Bill Gates and the Secret Push to Save Biden’s Climate Bill
A look at the influencers who secured a rare climate win. It was the middle of July — with temperatures surging through one of the hottest summers in US history, Continue Reading
WTI Stops Slide As API Figures Show Major Gasoline Draw
The American Petroleum Institute (API) reported a draw this week for crude oil of 448,000 barrels, while analysts predicted a smaller draw of 117,000 barrels. The draw comes as the Continue Reading
More U.S. sour crude heads to Germany to replace Russia oil
A second shipment of crude from a U.S. Gulf of Mexico offshore field has sailed for Germany, according to vessel tracking data and trade sources on Tuesday, as European refiners Continue Reading
Iran Says Some Issues Still Pending as Deadline for Nuclear Deal Looms
Iran on Monday said there were several issues with the nuclear-deal draft text that the U.S. needs to address before Tehran can agree to it, leaving the fate of the Continue Reading
Nuclear Deal Increasingly Unlikely As Iran Strengthens Ties With Russia
The prospect of an imminent new “nuclear deal” between the West and Iran is looking increasingly unlikely. A senior political and oil industry analyst highlights that there is very little Continue Reading
U.S. natgas futures down 1% on rising output, lower demand
U.S. natural gas futures fell about 1% on Monday on rising supplies and forecasts for cooler weather and lower air conditioning demand over the next two weeks than previously expected. Continue Reading
Even With Biggest-Ever Climate Bill, US Lags China’s Green Spending
The historic US climate deal that has now passed both chambers of Congress is being touted as one of the most ambitious decarbonization commitments made by any government to date. Continue Reading
Bill Gates-Backed Firm Raises $750M To Develop Small Nuclear Reactors
TerraPower, a company working on small-scale nuclear reactor development backed by Bill Gates, has raised $750 million in investment, including from South Korea’s second-largest conglomerate, to pursue its plan to Continue Reading
Colorado River cuts expected for Arizona, Nevada and Mexico
The federal government on Tuesday is expected to announce water cuts to states that rely on the Colorado River as drought and climate change leave less water flowing through the Continue Reading
Money Won’t Solve America’s Power Grid Problems
Electrification of the U.S. creates a huge challenge for the aging grid. Upgrading the grid isn’t just a question of investing more money. Resistance from states and localities may cause Continue Reading
California Might Keep One Nuclear Plant Open
Anticipating electricity supply shortages well into 2026, California Governor Gavin Newsom has proposed allowing the state’s last-remaining nuclear power plant to continue operations beyond its 2025 planned shutdown. The package Continue Reading
Surging gas-fired power demand propels Southern California spot gas prices to fresh highs
Highlights Excessive heat watch issued for inland California CAISO thermal generation up 27% month over month Southern California spot gas benchmark SoCal, city-gate climbed above $12/MMBtu for the first time Continue Reading
Iran will respond to EU’s nuclear text by midnight on Monday, says foreign minister
Iran will respond to the European Union’s “final” text by midnight on Monday, Iranian Foreign Minister Hossein Amirabdollahian said, calling on the United States to show flexibility to resolve three Continue Reading
Analysis: Iranian nuclear deal limbo serve both sides
Whether or not Tehran and Washington accept a European Union “final” offer to revive the 2015 Iran nuclear deal, neither is likely to declare the pact dead because keeping it Continue Reading
‘Extreme heat belt’ to place 100mn Americans at risk in 3 decades, research shows
A quarter of the US land area, home to more than 100 million people, will be subjected to temperatures of more than 125F (52C) in three decades, including states with Continue Reading
Stocks record their best stretch of the year, as inflation fears recede.
The stock market has notched the year’s best stretch of gains, as investors take comfort from early signals that inflation is slowing and the economy is holding up. The S&P Continue Reading
Iran Signals That Latest Nuclear Deal Proposal Could Be ‘Acceptable’
Unnamed Iranian diplomat says that proposal for nuclear deal by EU could be acceptable. Iran has been seeking assurances that no other U.S. president could unilaterally withdraw from the deal. Continue Reading
U.S. Drilling Activity Sees Decline For Second Straight Week
The number of total active drilling rigs in the United States fell by 1 this week, according to new data from Baker Hughes published on Friday. It is the second Continue Reading
California governor proposes $1.4 billion loan to keep nuclear plant open
California Governor Gavin Newsom is proposing to give PG&E Corp (PCG.N) a $1.4 billion government loan to extend the life of a nuclear power plant it runs by as much Continue Reading
Hot nights: US in July sets new record for overnight warmth
Talk about hot nights, America got some for the history books last month. The continental United States in July set a record for overnight warmth, providing little relief from the Continue Reading
The Climate Future Just Changed: Eight Predictions for 2030
Cleaner air, greener cities, shifted politics: Experts speculate on likely outcomes by the decade’s end from $374 billion in US climate spending. The landmark bill could pave the way for Continue Reading
Climate Bill’s Success Hinges on Timely Renewable-Project Build-Out
The climate legislation includes tax credits making wind and other renewable technologies much less expensive to deploy. The landmark climate bill passed by Congress on Friday aims to reduce carbon Continue Reading
U.S. producer prices fall in July; weekly jobless claims climb
U.S. producer prices unexpectedly fell in July amid a drop in the cost for energy products and underlying producer inflation appears to be on a downward trend, while jobless claims Continue Reading
Listen: Gasoline shipments on Colonial Pipeline are in high demand as imports decline
Even after US gasoline prices reached historic highs during the coronavirus pandemic, they somehow found more room to rise in 2022 after Russia invaded Ukraine . Strong demand and a Continue Reading
U.S. gasoline prices fall below $4 for first time since March
The average price of U.S. retail gasoline fell below $4 per gallon on Thursday for the first time in months, giving some relief to drivers in the world’s largest consumer Continue Reading
U.S. consumer prices unchanged in July as cost of gasoline tumbles
U.S. consumer prices were unchanged in July due to a sharp drop in the cost of gasoline, delivering the first notable sign of relief for weary Americans who have watched Continue Reading
The Inflation Reduction Act Is A Game-Changer For Decarbonization
The Inflation Reduction Act (IRA) includes more than $170 billion of tax credits for the electric industry, designed to encourage the shift from carbon-intensive fuels. An analysis carried out in Continue Reading
U.S. Refiners See Demand Holding Strong Through Year-End
American refiners and oil and gas operators expect strong demand for fuels and energy through the remainder of the year, despite analyst concerns in recent weeks that demand could take Continue Reading
Oil Inches Higher After EIA Reports Large Crude Inventory Build
Crude oil prices inched down before the EIA reported its crude inventory report today, but saw a small jump after the release, when the agency reported that crude oil inventories Continue Reading
US natural gas prices could ease in 2023, potentially lowering northeast power prices: EIA
Mid-Atlantic power prices highest in years Mostly driven by higher fuel prices US Energy Information Administration analysts discussed the relationship between fuel costs and power prices, and how recent US Continue Reading
Falling Gasoline Prices Keep Inflation In Check
The U.S. Consumer Price Index (CPI) saw no real change in July, suggesting that inflation is easing as a result of falling gasoline prices, according to the latest data from Continue Reading
Oil Tanker Freight Rates From US to Europe Soar to Two-Year High
Shipping costs for mid-size oil tankers from the US Gulf to Europe are near the highest levels since early in the pandemic, due to changes in trade flows amid Russia’s Continue Reading
Gasoline-Demand Forecast Is Cut for This Year Amid High US Prices
The US will consume less gasoline this year than previously thought, although total demand will still top 2021 levels, according to the latest government forecast. Gasoline consumption for 2022 is Continue Reading
The US-China Rift Moves Climate Politics Into an Era of Competition
This month’s biggest climate milestones happened over one weekend. On Sunday, the US Senate approved hundreds of billions of dollars in climate and clean-energy spending. Just two days before, climate Continue Reading
Conceding to Manchin, U.S. climate bill exempts most oil industry from methane fees
The U.S. Senate climate bill’s fee on oil and gas industry methane emissions will cover less than half the sector’s releases of the powerful greenhouse gas, thanks to concessions made Continue Reading
Short-Term Energy Outlook
Forecast Highlights Global liquid fuels The August Short-Term Energy Outlook (STEO) is subject to heightened uncertainty resulting from Russia’s full-scale invasion of Ukraine, how sanctions affect Russia’s oil production, the production decisions Continue Reading
API Sees Another Surprise Build In Crude Inventories
The American Petroleum Institute (API) reported a surprise build this week for crude oil of 2.156 million barrels, while analysts predicted a draw of 400,000 barrels. The build comes as Continue Reading
EIA Lowers U.S. Oil Production Forecast
The Energy Information Administration has lowered its forecast for crude oil production for this year and next, according to a new report. The Energy Information Administration (EIA) made several adjustments Continue Reading
Chip Makers Expect Demand Slowdown to Expand Beyond PCs, Smartphones
President Biden on Tuesday signed the Chips and Science Act of 2022, directing financial assistance for the construction and expansion of semiconductor manufacturing facilities and other programs. Photo: Evan Vucci/AP Continue Reading
Green Jet Fuel Is Causing Problems For Biden’s Inflation Reduction Act
The Inflation Reduction Act budget reconciliation bill has passed the Senate and will now move for approval in the House. As well as extending the existing biodiesel and renewable diesel Continue Reading
U.S. says ready to quickly conclude Iran nuclear deal based on EU text
The United States stands ready to “quickly conclude a deal” to revive the 2015 Iran nuclear agreement on the basis of proposals put forward by the European Union, a State Continue Reading
China’s suspension of dialogue with US may further delay climate agenda
Highlights Bilateral climate agenda moves from collaboration to competition COP27 outcomes could be impacted Green hydrogen, CCUS, methane reduction likely to be hit China’s suspension of climate dialogue with the Continue Reading
Factbox: U.S. climate deal has money for EVs, clean energy and even Big Oil
After years of failed attempts to pass major legislation to combat climate change, the U.S. Senate’s Inflation Reduction Act is poised to become the largest U.S. climate legislation in history. Continue Reading
Gasoline Use Is Falling in US as Decades-High Inflation Hits Consumers
Gas stations in the US are selling plenty of fuel, even as government data shows a steep drop in wholesale gasoline demand. The amount of retail gasoline sold in the Continue Reading
US Set to Deliver More Offshore Wind Energy in New Climate Bill
The strong gusts blowing off the coasts of Puerto Rico, Guam and other US territories offer big green energy potential — but for decades, a quirk in federal law meant Continue Reading
What’s driving the massive, destructive rainfalls around the country
At one weather station in Fairbanks, Alaska, each hour of rainfall is about 50 percent more intense, on average, than it was a half-century ago. The Wichita area is experiencing rains Continue Reading
How a 4-day workweek could benefit the environment
Reducing the workweek to four days could have a climate benefit, advocates say. In addition to improving the well-being of workers, they say slashing working hours may reduce carbon emissions. It’s Continue Reading
Gas Prices Fall, But Not Enough to Lure Drivers Back to the Pump
Despite steadily falling gas prices during the peak of the summer driving season, fewer drivers fueled up last week. It’s another sign that, for now, Americans are changing their driving Continue Reading
How High Can U.S. Shale Production Climb?
The U.S. Energy Information Agency (EIA), has forecasted in their most recent edition of the Short Term Energy Outlook-STEO, a rise in U.S. production of about 800K BOEPD by the Continue Reading
U.S. sour crude cargo sails to Germany as Russia sanctions bite
A tanker of U.S. sour crude was delivered at Germany’s port of Rostock last week for the first time ever, according to sources, analysts, and vessel tracking data, as local Continue Reading