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Sweeping climate bill pushes American energy to go green

WASHINGTON (AP) — Congress is poised to pass a transformative climate change fighting bill. Friday's vote would be the first major climate package in the U.S. and would include close to $375 billion in spending. Most of the bill is aimed at infusions of cash, subsidies and tax breaks to make green energy eventually so cheap it's nearly irresistible. It would slice U.S. carbon emissions by about 40%. This compromise bill comes 34 years after Congress was warned that climate change was a serious threat. Since then there have been 308 weather disasters that each cost $1 billion.

Explainer: Why gas prices are falling

Gas prices hit record highs just two months ago, but now they're sinking below $4 a gallon. The auto club and insurer AAA said Thursday that the nationwide average price was $3.99 a gallon. There are several factors behind the dramatic drop, and the biggest is a sharp pullback in oil prices. The price of benchmark U.S. crude is down about one-fourth from its peak. Investors bidding down the price of oil are worried that the global economy is shaky, and that demand for energy will get weaker.

Gas prices dip just below $4 for the first time in 5 months

DALLAS (AP) — U.S. gas prices have dipped under $4 a gallon for the first time in more than five months. AAA says the national average is $3.99 for a gallon of regular. That's down 15 cents in just the last week, and 68 cents in the last month. Gasoline peaked at around $5.02 a gallon on June 14. Motorists in California and Hawaii are still paying above $5, and other states in the West are paying close to that. The cheapest gas is in Texas and several other states in the South and Midwest. The decline reflects falling prices for crude oil, which have dipped close to $90 a barrel from over $120 a barrel in June.

Tips for saving on your commute amid high inflation

NEW YORK (AP) — Gas prices are falling but still high. And inflation is making everything else more expensive. But experts say there are ways to save on commuting costs. If you drive, AAA recommends avoiding traffic and adjusting your normal route in order to avoid unnecessary driving. Driving the speed limit can also help you save money. You should also talk with your employer. Even working from home one day a week if it's possible can help save on commuting.

EXPLAINER: How is inflation affecting commuting costs?

NEW YORK (AP) — Gas prices have fallen from the record highs they reached earlier this summer, but they’re still higher than a year ago. And with inflation driving up the cost of pretty much everything else, finding the funds to cover your commute may be increasingly tricky. Whether you drive, take the bus or ride the subway, you're likely being affected by inflation. More than 76% of Americans commute by car. The national average price of a gallon of regular unleaded was $3.99 on Thursday, much lower than in recent months but still higher than $3.19 a year ago.

US wholesale inflation fell in July for 1st time in 2 years

WASHINGTON (AP) — Prices at the wholesale level fell from June to July, the first month-to-month drop in more than two years and a sign that some of the U.S. economy’s inflationary pressures cooled last month. Thursday’s report from the Labor Department showed that the producer price index — which measures inflation before it reaches consumers — declined 0.5% in July. It was the first monthly drop since April 2020 and was down from a sharp 1% increase from May to June. The easing of wholesale inflation suggests that consumers could get some relief from relentless inflation in the coming months.

Stocks close mixed after new signs of cooling inflation

NEW YORK (AP) — An afternoon pullback left stock indexes on Wall Street mixed, erasing most of their morning gains following another encouraging report about inflation. The S&P 500 closed 0.1% lower Thursday. The Nasdaq also fell, while the Dow Jones Industrial Average rose slightly. Investors weighed new data showing inflation at the wholesale level slowed more than economists expected in July. That bolstered hopes that inflation may be close to a peak and that the Federal Reserve will be less aggressive about raising interest rates than feared. Stocks pared their gains after Treasury yields climbed. The Walt Disney Co. rallied after reporting stronger quarterly results than expected.

FTC looking at rules to corral tech firms' data collection

WASHINGTON (AP) — Whether it's the fitness tracker on your wrist, the “smart” home appliances in your house or the latest kids’ fad going viral in online videos, they all produce a trove of personal data for big tech companies. How that data is being used and protected has led to growing public concern and officials’ outrage. Now federal regulators are looking at drafting rules to crack down on what they call harmful commercial surveillance and lax data security. The Federal Trade Commission announced the initiative Thursday, seeking public comment on the harmful effects of companies’ data collection and the potential benefit of new rules to protect consumers’ privacy.

OSHA investigates deaths of Amazon workers in New Jersey

Federal work-safety investigators are looking into the death of an Amazon worker and an injury that potentially lead to the death of another employee. The new Occupational Health and Safety Administration investigations add to a probe already underway following the death of a third worker during the company's annual Prime Day shopping event in mid-July. All three Amazon workers died within the past month and were employed at company facilities in New Jersey. An Amazon spokesperson said its cooperating with OSHA in the investigations. The spokesperson says the death of the worker who died on Prime Day was related to a personal medical condition and not work related.

Big Mac is coming back: McDonald's to reopen in Ukraine

CHICAGO (AP) — McDonald’s will begin reopening some of its restaurants in Ukraine in the coming months. The burger giant closed its Ukrainian restaurants after Russia’s invasion nearly six months ago but has continued to pay its more than 10,000 employees in the country. McDonald’s said Thursday that it plans to gradually begin reopening some restaurants in the capital, Kyiv, and western Ukraine, where other companies are doing business farther from the fighting. McDonald’s has 109 restaurants in Ukraine but didn’t say how many would reopen, when that would happen or which locations would be first. McDonald's has sold its 850 restaurants in Russia.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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