Energy in America

Consumers Energy will phase out electricity production from coal by 2040 to slash emissions of heat-trapping gases that cause global warming, the Michigan utility's president and CEO told The Associated Press.

Japan has reported a trade deficit for January, its first in eight months, mainly due to seasonal factors.

Puerto Rico's power company said Sunday that it will reduce its operating reserve to save money amid a cash shortfall as officials warned the move could destabilize the U.S. territory's fragile electrical grid.

William Rios, director of generation at Puerto Rico's Electric Power Authority, said a plan to reduce its reserve by 450 megawatts will not affect customers and will help save $9 million a month.

India and Iran have agreed to step up cooperation in combatting extremism, terrorism and drug trafficking and restoring peace and stability in war-wracked Afghanistan.

Venezuela's former oil czar Rafael Ramirez is being sued by a Houston company that alleges he was behind alleged demands for at least $10 million in bribes to sign off on deals to sell its energy assets in the country.

The number of rigs exploring for oil and natural gas in the U.S. didn't increase this week, remaining at 975 for the second week in a row.

Shares were higher in Japan and Thailand but fell in Australia and India, with most Asian markets closed Friday for the lunar new year holiday.

Italian gas and oil giant Eni says its fourth-quarter profits rose more than five-fold to 2.1 billion euros ($2.6 billion) thanks to higher gas prices and record production.

U.S. stocks are rising Thursday as investors continue to snap up shares of companies that do better in times of faster economic growth, such as industrial and technology companies and banks.

Special conditions to address concerns about water quality may be justified for a proposed natural gas pipeline, a Maryland official wrote Thursday, as opponents to the project came to rally at the governor's residence.

___ US mortgage rates climb to a nearly 4-year peak WASHINGTON (AP) — Long-term U.S. mortgage rates jumped this week to their highest level in nearly four years.

The Latest on undersea footage showing marine life around the nation's first offshore wind farm (all times local): 3 p.m.

Offshore wind proponents are touting new undersea footage suggesting a vibrant marine habitat is growing around the nation's first offshore wind farm.

As the Trump administration weighs whether to hike the tax on gasoline in order to pay for the newly released infrastructure proposal, some are warning the president that it could hinder the sudden boost in approval ratings that Republicans have seen since the tax overhaul was signed into law in late December.

Asian shares posted solid gains on Thursday that mirrored Wall Street's advance as investors' worries over inflation receded, although trading was thin as some markets closed for Lunar New Year holidays.

U.S. stocks are shaking off an early decline and turning higher Wednesday.

Warren Buffett's company is selling 35 million shares of its Phillips 66 stock back to the oil refiner for $3.3 billion.

President Donald Trump is signaling his openness to a 25-cent fuel tax increase to help pay for his infrastructure proposal in a meeting with members of Congress.

___ US inflation pressures raising expectations for rate hikes WASHINGTON (AP) — Inflation pressures appear to be building in the U.S. economy, a prospect that is heightening anxiety about potentially higher borrowing rates that could slow economic growth.