Stephanie Findlay reports from Houston that the midterm elections are shaping up as a referendum on the Trump administration, with polls in Texas pointing to a close Senate race. Republican Ken Paxton is neck and neck with Democrat James Talarico, a 37-year-old state representative and Presbyterian seminarian. If Talarico wins, he would be the first Democrat to win a statewide election in Texas in more than three decades and could help his party seize control of the Senate.
Oil and gas executives have questioned Talarico's stance on energy. During his campaign, he has shifted from criticizing fossil fuels to embracing an "all of the above" energy strategy. He is not alone. Rising affordability concerns, driven partly by massive power demand from the AI build-out and higher fuel costs linked to the Iran war, have prompted other Democrats to change their positions. Governors Maura Healey of Massachusetts and Mikie Sherrill of New Jersey support the approach, which backs energy from a variety of sources, including fossil fuels. Pennsylvania governor Josh Shapiro, after scrutinising oil and gas companies as attorney-general, has sought to leverage the state's natural gas resources.
"The reality is if we're going to handle the AI boom and we want re-industrialisation . . . then you have to provide the power," said Tim Ryan, a former Democratic congressman from Ohio and co-chair of Natural Allies for a Clean Energy Future, an industry group that promotes natural gas. Ryan said Talarico's shift was natural as he sought a bigger job and had to consider the wider interests of the state. "Think about the last time we had a Democrat being able to talk about their faith and an 'all of the above' energy strategy," he said. "He could be a really powerful voice moving forward."
The piece also touches on the Audi Revolut F1 team's sustainable fuel partnership with BP, which the companies hope could lead to wider adoption of renewable fuels.
Source: Financial Times Companies · Summarized by HeadlinesBriefing