Energy storage would gain access to the same tax incentives that helped make renewable energy the biggest new source of electricity in the U.S. last year under a bill introduced in the Senate.
More than 100 energy companies have had their credit ratings put on review for possible downgrade by Moody’s Investor Service. Shell, Total and Statoil are included in the move as oil prices are expected to recover more slowly than companies expect.
Oil producers in the US are about to see their credit lines shrink, just when they need the money most.
The Ibovespa fell for a second day, led by Petroleo Brasileiro SA, after Finance Minister Joaquim Levy said that a credit downgrade by Moody’s Investors Service is more likely if Brazil doesn’t make economic adjustments. Traders also pushed down the value of shares after newspaper Folha de S Paulo reported Saturday that lower house President Eduardo Cunha would rebel against the administration by blocking a fiscal-austerity package designed to shrink the budget deficit. His announcement escalated a political crisis that already had driven President Dilma Rousseff’s popularity to a record low and revived talks of impeachment.