First $1 Billion, Now $50 Million: Khanna Says Wealth Tax "Must Not Stop At Billionaires"

DOE Presses PJM On Ratepayer Protections From Large Load Costs By Ethan Howland of UtilityDive The U.S. Department of Energy on Wednesday urged the PJM Interconnection to revise its reliability backstop procurement plan to prevent cost shifts onto existing utility customers from data centers and other large loads. PJM should file a proposal by Oct. 29 in response to the Federal Energy Regulatory Commission’s decision last month that the grid operator’s backstop procurement plan needed changes, including to address flaws in its cost-allocation framework, according to the DOE’s “statement of position” filed...

Netflix Reportedly Readies First Major Layoffs Since 2022, Cutting 5% Of Staff With Shares Down 42% In A Year Continued wokeness does not seem to be working out well for Netflix, which is planning to cut about 5% of its workforce, with an announcement expected as early as next week, Puck News reported Friday, citing people familiar with the matter. The company had about 16,000 full-time employees at the end of last year, so a 5% cut would mean roughly 800 jobs. It is not yet clear which departments would be hit,...

$100 Oil Is Solving Russia's Budget Problem Submitted by Charles Kennedy of OilPrice.com Russia is getting an unexpected windfall from the war in the Middle East. The Kremlin’s oil revenues this month hit a four-year high as oil prices jumped to $100 per barrel amid the Iran war and the de facto closed Strait of Hormuz. Moscow expects so much additional revenues from the oil price spike that authorities are unlikely to downgrade Russia’s economic prospects, hold off on planned budget cuts, and even boost military spending on the war...