‘Inflation Reduction’ Rule Hikes Domestic Oil, Gas Production Costs

TL/DR - The Biden Administration has finalized a rule as part of the "Inflation Reduction Act" that will significantly increase the cost of producing oil and gas in the US. The rule includes a raised royalty rate, causing an increase of $1.8 billion for oil and gas companies by 2023, and also imposes higher fees and royalties, dramatically raises…

House Renews FISA Surveillance Tool After GOP Revolt

TL/DR - The House voted in favor of renewing a surveillance program known as Section 702 of the Foreign Intelligence Surveillance Act (FISA). Initially blocked by a group of 19 conservative privacy advocates, the bill moved forward after an agreement to cut the reauthorization period from five years to two years. The legislation, which received…

Lancet Criticises Deterioration of Modi’s India Healthcare

TL/DR - The Lancet medical journal has criticized Prime Minister Narendra Modi's management of India's healthcare, citing declines in public health spending to about 1.2% of GDP and a lack of reliable data. The journal noted that out-of-pocket healthcare expenses in India remain extremely high. It also highlighted the failure of government…

Reasons House Republicans Supported Climate Law

TL/DR - During the Republican-controlled House's "energy week", over 100 GOP lawmakers voted against an amendment that would have undermined the Democrats' climate law. The amendment, proposed by Rep. Garret Graves, aimed to change water permitting legislation for companies using Inflation Reduction Act funds, but it was defeated 99-323. Major…