Today’s headlines: Jones Act suspended, two geothermal funding announcements, and more

This roundup of U.S. energy news headlines is part of our Canary Media Daily newsletter. Sign up to get it in your inbox each morning.

IRAN

• President Donald Trump suspends the Jones Act for 60 days, allowing foreign vessels to ship between American ports in an attempt to curb rising fuel prices. (Politico)

ELECTRIC VEHICLES

• EVs around the world helped avoid the use of 2.3 million barrels of oil per day last year, according to a new BloombergNEF study. (Bloomberg)

GEOTHERMAL

• Conventional geothermal company Ormat brings in $875 million across its latest fundraise as it partners with newer advanced geothermal firms. (news release)

• Startup Fervo Energy announces a $421 million debt financing package that will fund its first utility-scale geothermal power plant, a 500-MW facility in Utah. (E&E News)

POLITICS

• Democratic and Republican U.S. senators urge the Trump administration to release $400 million in Low-Income Home Energy Assistance Program funding that still hasn’t been spent after the Trump administration called for the program’s elimination. (E&E News)

INDUSTRY

• Clean cement startup Cocoon Carbon raises $15 million as it aims to build a U.S. demonstration plant. (Axios)

CLIMATE

• The Federal Emergency Management Agency says it will relaunch a grant program that funded climate resiliency projects, as ordered by a court. (New York Times)