On Wednesday, the Office of Energy Dominance Financing at the U.S. Department of Energy announced it had closed a $5.1 billion loan package to Alliant Energy—a utility company with over 1.5 million customers across Iowa and Wisconsin—to "lower electricity costs, expand firm power generation, and strengthen grid reliability" in the Midwestern states. 

The loan package is part of the Energy Department's response to President Donald Trump's April 2025 executive order directing the agency and its secretary, Chris Wright, to ensure the nation uses "all available power generation resources" to expand and secure America's electric grid amid growing demand. 

In a press release, Alliant said the 30-year loan package will finance 1.6 gigawatts of new natural gas generation, 240 megawatts of increased capacity at its existing natural gas facilities, and a gigawatt of energy storage. The loan package will also allow Alliant to add 2 billion cubic feet of liquefied natural gas storage. All told, these upgrades and additions will generate enough electricity to power 2 million homes annually, according to the Energy Department.

Alliant estimates the deal will result in "up to $1.2 billion in cumulative customer savings," as well as the creation of "more than 1,600 local jobs" through construction projects financed by the loans. Of course, some of the savings likely stem from Alliant receiving more favorable loan terms from the Energy Department than it would from an open-market lender. 

A report filed with the Securities and Exchange Commission outlining the deal's terms shows that the interest rate to be charged on each loan aligns with the government's borrowing costs. However, the markup on each loan will remain a fixed percentage, regardless of whether lending to Alliant becomes riskier or more expensive. Under the deal's terms, Alliant has until May 15, 2056, to repay the loan, but it is only responsible for paying interest until the first principal payment is due in 2052. 

The Energy Department said the deal is the Trump administration's 10th financial close and its "sixth and seventh utility financing completed through the Energy Dominance Financing Program." As of September 30, the department had issued $132 billion in loans and guarantees through the program, including $47.5 billion announced in conditional commitments, and disbursed $53.2 billion. 

While the Trump administration is taking credit for the deal, the loan is essentially a repackaging of a $3 billion conditional commitment offered by the Biden administration in 2025 as part of its last-ditch effort to spend as much taxpayer money on green projects as possible before Trump took office. Under the terms of the Joe Biden-era deal, Alliant would have used the loan to "finance multiple clean energy and battery energy storage system projects." Instead, the company will now receive an additional $2.1 billion in funding, without the climate goals the Biden administration stipulated.

Gregory Beard, director of the Office of Energy Dominance Financing, said the agency is "putting capital to work." The deal is perhaps better described as the Energy Department usurping a role that should be reserved for private-sector, institutional lenders. "This type of government involvement is only another example of the current Energy Department distorting the power generation market," says Tom Opdyke, director of energy and environmental policy at the R Street Institute.

The agency's meddling seems even more unnecessary given that Alliant's revenue is expected to grow 6.8 percent annually over the next three years, with its profit margins increasing from 18.4 percent to 22.2 percent, according to the stock research and portfolio-tracking platform Simply Wall St.

The timing of the announcement also raises some red flags. While an Alliant spokesperson tells Reason they spent "months reviewing the details and finalizing contracts" before the loan package "was finalized this week," the money is conveniently being directed to energy projects in two fairly competitive states in this year's midterm elections. The Cook Political Report has the Iowa Senate race as a toss-up and several incumbent House Republican seats in Iowa and Wisconsin leaning Democrat.

The loan package could be a ploy to boost Trump's and Republicans' favorability with the electorate in Iowa and Wisconsin by appearing to address a cost-of-living issue high on voters' list of concerns. "Even if that's the case, those things aren't going to happen by Election Day, and voters' opinions aren't likely to shift on the promise of future jobs and savings," says Opdyke. "So it might be too little, too late."

Trump is scheduled to speak this weekend in an Iowa-Wisconsin border town.

Whatever the reasoning, the loan package is effectively a subsidy for Alliant to expand its operations and grow its customer base at a lower cost. It's cronyism that enriches Alliant and disadvantages its competitors, at American taxpayers' expense.

The post Trump Hands Alliant Energy $5.1 Billion in Loans Ahead of Key Midterm Races in Iowa and Wisconsin appeared first on Reason Magazine.

Bush Heritage hopes to buy Wooroora station, which links wet sclerophyll forest and savanna woodland and is home to 12 endangered species

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A majestic tract of land in far north Queensland that links wet tropics and world heritage rainforest, and contains headwaters that flow to the Great Barrier Reef, could be bought and protected by Christmas, after a conservation group raised more than $19m in private donations to buy the cattle station.

Wooroora spans more than 20,000 hectares of largely intact wet sclerophyll forest and savanna woodland on the lands of the Jirrbal people about 100km south-west of Cairns – and borders Bush Heritage’s existing 43,575-hectare Yourka Reserve in one of the most biodiverse regions in Australia.

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© Photograph: Supplied

© Photograph: Supplied

© Photograph: Supplied

The European Commission has opened talks with oil producers, refiners and NATO over the future of Europe’s fuel industry, exposing growing tensions between decarbonisation, industrial competitiveness and the demands of military preparedness.

The European Union is reconsidering the strategic importance of its oil-refining industry as disruptions to international energy supplies and growing defence requirements force Brussels to examine whether Europe can afford further reductions in domestic fuel production.

On 28 October, the European Commission convened its first high-level dialogue with the European refining industry, bringing together energy companies, technology providers and representatives of NATO.

The meeting was chaired jointly by Energy Commissioner Dan Jørgensen and Defence and Space Commissioner Andrius Kubilius.

Its significance extends beyond the immediate increase in fuel prices associated with the conflict in the Middle East.

Brussels is confronting a longer-term problem: Europe intends to reduce its dependence on fossil fuels, but its transport networks, industrial infrastructure and military forces remain substantially dependent on petroleum products.

The question is no longer simply how quickly the European economy can decarbonise. It is also how much refining capacity must be retained to guarantee essential fuel supplies during a geopolitical crisis.

A strategic industry under pressure

Europe’s refining industry occupies an important position in the continent’s energy system.

According to figures published by the European Commission, EU refineries supply approximately 70 per cent of the jet fuel and 85 per cent of the diesel consumed in Europe.

These products are essential not only for civilian transport and logistics but also for military aviation, armoured vehicles and the movement of equipment.

Maintaining adequate production capacity therefore has implications for both economic activity and defence readiness.

Yet European refineries have faced difficult commercial conditions for years.

High energy costs, international competition and declining expectations for long-term fossil-fuel demand have complicated investment decisions.

Refineries require substantial capital expenditure to remain competitive, meet environmental requirements and adapt production processes.

Companies considering whether to modernise facilities must consequently assess the profitability of assets that may be expected to operate in a progressively decarbonising economy.

The resulting uncertainty creates a problem for governments seeking to retain strategically important industrial capabilities.

The Middle East conflict changes the calculation

The immediate catalyst for the Commission’s initiative is the disruption to energy markets caused by the continuing conflict in the Middle East.

Interruptions to supply chains and uncertainty over maritime transport have increased concerns about the availability and cost of refined petroleum products.

Importing crude oil and importing finished fuels are not equivalent from a strategic perspective.

A country with domestic refining capacity can process available crude into the particular products required by its economy.

An economy heavily dependent on imported refined products is additionally exposed to processing capacity, transport availability and commercial decisions outside its jurisdiction.

The distinction becomes particularly relevant when governments must guarantee supplies of diesel and aviation fuel during an emergency.

European policymakers are therefore examining ways to improve output from existing facilities and strengthen the resilience of fuel supply chains.

However, the Commission has not announced a binding production target or a programme to reopen closed refineries.

The 28 October meeting represents the beginning of a policy discussion rather than the adoption of a new industrial strategy.

NATO introduces a different perspective

The participation of NATO gives the initiative a wider security dimension.

Military preparedness requires dependable access to energy products, including during periods when normal commercial supply chains are disrupted.

Aircraft, naval vessels, military logistics and ground operations cannot be reorganised around alternative energy sources at the same pace as some civilian activities.

Furthermore, the ability to sustain prolonged operations depends on reliable industrial production, storage, distribution and transport.

A refinery’s strategic importance may therefore exceed its immediate commercial profitability.

That raises difficult policy questions.

Governments may consider whether critical production facilities require targeted support, whether strategic stockpiles are sufficient and how supply arrangements should function during emergencies.

Any intervention would have to address competition rules, public financing and the risk of subsidising facilities that become commercially unviable.

Decarbonisation remains part of the policy

Brussels has not abandoned its climate objectives.

The Commission has explicitly linked its refining discussions to the development of sustainable biofuels and synthetic fuels, commonly known as e-fuels.

These technologies offer potential alternatives for sectors where direct electrification remains technically difficult, including aviation.

However, their commercial development requires investment, suitable feedstocks, reliable energy supplies and sufficient demand.

Traditional refineries may be able to participate in this transition, although the technical requirements and economic viability vary between facilities.

Jørgensen said the Commission intended to work with industry on a roadmap that would reconcile domestic fuel production with Europe’s longer-term climate ambitions.

The challenge will be translating those objectives into investment decisions.

Europe’s industrial strategy faces a practical test

The initiative illustrates a wider adjustment in European economic policy.

In recent years, the EU has increasingly described industrial capacity as an element of economic security, rather than treating production solely as a commercial activity.

Semiconductors, pharmaceuticals, critical minerals and defence equipment have all attracted attention because of vulnerabilities in international supply chains.

Oil refining is now entering the same discussion.

The Commission must determine how to preserve sufficient capacity for essential civilian and military requirements while continuing to encourage cleaner technologies.

Those objectives are not necessarily incompatible, but they operate over different timescales and involve different commercial incentives.

For European refiners, the central question is whether governments can provide enough regulatory and investment certainty to support modernisation.

For Brussels, it is whether the energy transition can proceed without creating new strategic dependencies.

The outcome of the dialogue will indicate how the EU intends to balance its climate commitments with the industrial demands of a less predictable security environment.

The ports of Los Angeles and Long Beach have identified liquefied natural gas (LNG) and methanol as the most viable alternative marine fuels for the near and medium term, with...

Portugal’s minister for the environment and energy has announced support for the purchase of electric vehicles – specifically for low-income households – covering around 20,000 vehicles with subsidies of up

The post Government announces up to 80% support for purchase of electric vehicles for low-income households appeared first on Portugal Resident.

Software can fix a lot of this — if lawmakers let it.

A U.S. passenger ship Tuesday paused its global three-year voyage in Cambodia because of fuel costs, stranding hundreds of passengers. The MV Odyssey, which began its voyage from Belfast, Northern Ireland, two years ago, has no certain departure date as it remains docked at the port of Sihanoukville on the Gulf of Thailand. The ship…

NSW government imposes water restrictions after Menindee water volumes fall below 2021 levels

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Water levels at the Menindee Lakes in western New South Wales have fallen to their lowest point in five years, prompting the state government to impose upstream water use restrictions as experts warn of potential mass fish deaths over summer.

Combined volume at the Menindee Lakes fell below 480 gigalitres earlier this month, the first time since 2021.

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© Photograph: Google Earth

© Photograph: Google Earth

© Photograph: Google Earth

Software can fix a lot of this — if lawmakers let it.

A U.S. passenger ship Tuesday paused its global three-year voyage in Cambodia because of fuel costs, stranding hundreds of passengers. The MV Odyssey, which began its voyage from Belfast, Northern Ireland, two years ago, has no certain departure date as it remains docked at the port of Sihanoukville on the Gulf of Thailand. The ship…

Seagrass protects coasts, shelters thousands of species and stores CO2. But some 30% of this valuable ecosystem has disappeared since the late 19th century. Can we bring it back?

Human beings struggle with emergency communication. Chatbots can help—if people take them seriously.

Scientists uncover ancient hills and swamps that disappeared as sea levels rose across northern Adriatic

Venice is famed for being a floating city, but research shows the land it sits on once lay many miles inland. Dramatic changes in sea level over 10,000 years have reshaped the northern Adriatic coastline, with much of the land that our ancestors roamed now lying beneath the waves.

Samuele Ongaro, at the University of Southampton, and colleagues combined seismic data with sedimentary cores from the coastal basins of northern Italy, Slovenia and northern Croatia to model changes in sea level across the region and reconstruct past landscapes over the past 10,000 years.

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© Photograph: Paulo Amorim/Getty Images

© Photograph: Paulo Amorim/Getty Images

© Photograph: Paulo Amorim/Getty Images

Environmentalists have called on the cabinet to refuse a planning permit for a monastery built without permission in the Cape Greco protected area.

The ecologists urged the government to reject the application for the planned monastery of Saints Ephraim and Catherine, and order the demolition of any illegal structures presently built.

The party said the development sits within the Natura 2000 network and a nature protection zone, and that the required environmental assessments were not followed.

“Illegality cannot precede and licensing follow,” the statement said, warning that legalising work after the fact sets “a dangerous precedent”.

It said, “respect for the church” could not mean applying the law differently, and that “Natura 2000 areas cannot be selectively protected”.

The planning council voted four to one in favour of allowing construction to continue, with the representative of the technical chamber (Etek) the only objector.

A further meeting is set for October 30 before a reasoned recommendation goes to the cabinet, which alone decides.

The environment department did not evaluate the application as the project is already well advanced, and recommended a negative response.

The urban planning department likewise advised against, saying the project conflicts with nine provisions of the Paralimni, Ayia Napa and Deryneia local plan.

Etek president Konstantinos Konstantis said the interior minister “correctly started the procedures” and that the demolition decision must be enforced.

He argued that legalising work retrospectively undermines the credibility of the planning system, and Etek has also moved to refer the project’s architects and engineers to its disciplinary board.

The dispute dates to early 2024, when the Bishopric of Famagusta began building at the Mazeri tou Koukou site without environmental and planning permits.
Ayia Napa municipality and the town planning department issued enforcement notices in spring 2024, whereupon an appeal was subsequently rejected by the courts which refused a stay of execution, yet the structures remain.

Earlier opinions from Attorney-General George Savvides held that projects begun unlawfully inside Natura 2000 areas cannot be assessed retrospectively.

Critics warn of climate danger as president in Texas claims change will save companies and consumers billions

Donald Trump said his administration is “terminating” Biden-era regulations holding oil and gas companies accountable for large leaks of planet-warming methane during a rally in Lubbock, Texas, on Tuesday evening.

“Tonight, I’m officially terminating Biden’s expensive and unnecessary methane regulations to save consumers and energy producers,” Trump said, lifting what he called “crippling regulations on methane that caused prices to skyrocket” for small oil and gas operators. The change would save consumers and energy producers $45bn and unlock 210m barrels of oil, he said, which is equivalent to about 10 days of US petroleum consumption.

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© Photograph: Kent Nishimura/AFP/Getty Images

© Photograph: Kent Nishimura/AFP/Getty Images

© Photograph: Kent Nishimura/AFP/Getty Images

A camera set up to monitor a bowerbird inadvertently captured a range of wildlife thriving at Yourka after 20 years of bush management, from goannas to bettongs.

Legislation requiring mugs to be offered when people drink at cafes to be scrapped, with environment minister stating ‘we need to clear this up’

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The New South Wales government has backflipped on its plan to force cafes to offer customers who dine in the option of mugs and glasses instead of takeaway cups.

Chris Minns’ government will also ditch a law that would have required businesses to participate in a reusable cup scheme or risk a fine up to $110,000.

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© Photograph: Lukas Coch/AAP

© Photograph: Lukas Coch/AAP

© Photograph: Lukas Coch/AAP

President Trump announced plans to loosen methane regulations from the oil and gas sector during a Lubbock, Texas rally Tuesday night. The announcement came during the president’s second campaign stop of the day in Texas, during which he aimed to assist the Senate campaign of Republican Ken Paxton, the state attorney general, in the oil-heavy…

President Trump announced plans to loosen methane regulations from the oil and gas sector during a Lubbock, Texas rally Tuesday night. The announcement came during the president’s second campaign stop of the day in Texas, during which he aimed to assist the Senate campaign of Republican Ken Paxton, the state attorney general, in the oil-heavy…