Slashing the red tape: Louisiana Gov. Jeff Landry delivered testimony before the U.S. House Transportation and Infrastructure Committee, calling for sweeping reforms to streamline federal infrastructure processes. Landry argues that excessive bureaucracy stymies critical projects and urged Congress to eliminate regulatory barriers, implement “one federal decision” policies, and expedite environmental reviews. Read more from The Center Square.
Cutting positions: British oil-and-gas giant BP told its employees Thursday morning that it would cut 4,700 internal and 3,000 contractor positions in an effort to cut costs. The internal cuts represent 5% of its workforce. In October, the company said it had identified savings of $500 million that would be realized in 2025. Read more from The Wall Street Journal.
Growing share: Sales of all-electric and hybrid vehicles reached 20% of new vehicles sales in the U.S. for the first time last year, marking a landmark year for “green” cars―albeit at a slower pace than previously expected. Auto data firm Motor Intelligence reports more than 3.2 million “electrified” vehicles were sold last year, including 1.9 million hybrid vehicles and 1.3 million all-electric models. Read more from CNBC.
