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Oil futures and stock markets fell sharply Monday as reports of new cases of the coronavirus outside of China raised fears over the potential impacts of the outbreak on global economic activity.

The coronavirus reasserted its influence over the Lower 48 oil price outlook Monday as reports of new cases of the disease outside of China stoked fears both at home and abroad over the outbreak’s impact on global economic activity.

Bankruptcy-immersed Pacific Gas and Electric Co. (PG&E) last week committed to a five-year program undergrounding its distribution electricity system in Paradise, CA, and establishing a $105 million housing fund for victims of the state’s severe wildfires in 2017 and 2018.

Legislation has been introduced in Pennsylvania to support nuclear power plants that face stiff competition from natural gas in the wholesale markets by requiring electric distribution companies and suppliers to purchase credits from the facilities.

Federal regulators are set to reconsider whether New York took too long to issue a water quality certification (WQC) for the embattled Constitution Pipeline after the U.S. Court of Appeals for the District of Columbia Circuit on Thursday granted a motion to remand the matter back to FERC at the commission’s request.

TransCanada Corp. said Thursday the remainder of the Columbia Gas Transmission LLC (TCO) WB XPress project has entered service, allowing another 1.3 Bcf/d of Appalachian natural gas to move to Mid-Atlantic markets.

Lawmakers from both sides of the aisle appeared to breathe a collective sigh of relief following Scott Pruitt’s resignation as administrator of the Environmental Protection Agency (EPA), but new battle lines were beginning to form around Andrew Wheeler, a former coal industry lobbyist who is taking the reins on an interim basis beginning Monday.

A federal appeals court on Thursday stayed a crucial U.S. Army Corps of Engineers water crossing permit for Mountain Valley Pipeline (MVP) in West Virginia, potentially a major setback for a project under construction that was aiming to begin service this year.

After garnering feedback from many circles, including the oil and natural gas industry, the Trump administration outlined a procedure for requesting an exemption to its recently announced tariffs on steel and aluminum imports, and began accepting such requests on Monday.