Oil posts largest loss since April
Crude oil futures posted their largest one-day loss since April after a report that U.S. crude inventories surged by 5.1 million barrels last week. Oil declined nearly 6 percent trading near $63 per barrel today.
DOE announces $30B in loans for renewable energy projects
The U.S. Department of Energy announced up to $30 billion in loan guarantees for renewable energy projects and $750 million in loan guarantees for the nation's transmission system. It separately announced an investment of up to $11.8 million for solar power grid integration projects.
Energy Efficiency could save U.S. $1.2 trillion
A report from the consulting firm McKinsey & Company measured the potential gross energy savings the U.S. could save by implementing energy efficiency at scale. McKinsey said more than $1.2 trillion could be saved by 2020 and calculated an upfront investment of $520 billion through 2020 would be needed.