Reuters WASHINGTON – President Joe Biden’s vast infrastructure plan includes $174 billion to boost the markets for electric vehicles and billions more for renewable power – both provisions aimed at weaning the U.S. off of fossil fuels and combating climate change. The $2 trillion plan, which also seeks to invest in traditional projects like roads and bridges, is a centerpiece
Reuters MEXICO CITY – As oil majors and developed nations push for a faster transition to clean energy, much of Latin America is struggling just to cover its basic supply needs for fossil fuels, which is forcing some countries to actually rely more on dirty energy sources. Experts speaking at this year’s all-virtual CERAWeek conference said a portion of Latin
Reuters NEW YORK – Oil demand is expected to rise over the next decade and the fossil fuel will remain to be a crucial part of the energy mix, even as renewables draw increasing attention, Hess Corp Chief Executive John Hess said at CERAWeek on Monday. At the biggest gathering of top energy leaders, investors and politicians from around the
Reuters LONDON – National oil companies (NOCs) risk squandering $400 billion on expensive oil and gas projects over the next decade that may only break even if the world fails to meet the Paris climate goals, a non-governmental organisation said on Tuesday. In a new report called Risky Bet, the Natural Resource Governance Institute (NRGI) estimated that NOCs could invest
Reuters LONDON – Royal Dutch Shell is betting on its expertise in power trading and rapid growth in hydrogen and biofuels markets as it shifts away from oil, rather than joining rivals in a scramble for renewable power assets, company sources said. Shell and its European rivals are seeking new business models to reduce their dependency on fossil fuels and
Reuters LONDON – Nuclear power capacity able to supply roughly 60 million homes is scheduled to close this decade as utilities struggle to replace northwest Europe’s ageing reactors, raising the risk of higher carbon emissions as fossil fuels plug the gap. Nuclear power provides around a quarter of the European Union’s electricity generation, with 15 of the 27 nations hosting
BOE Report Time to come clean about something. Like almost any other person affiliated with the hydrocarbon industry, I’ve long been frustrated with the Ottawa-centric, social-science-heavy analyses of industry provided by the CBC. The institution’s output seems geared to the sort of mentality one would not be thrilled to work with – whiny, hand-wringing, dependent, un-calloused, offended urbanites that couldn’t
Reuters The Trump administration on Wednesday will offer all available areas in the Gulf of Mexico for auction to oil and gas companies in its final offshore sale before the January inauguration of President-elect Joe Biden, a Democrat who has pledged to ban new drilling on federal lands and waters. The Bureau of Ocean Energy Management, an arm of the
BOE Report Alex Epstein, who most know from his book “The Moral Case for Fossil Fuels” has been busy. Since founding the energy think tank Center for Industrial Progress in 2011 he received the “Most Original Thinker of 2014” award from the McLaughlin Group. He has been publicly debating environmentalist organizations such as Greenpeace, the Sierra Club, and 350.org’s Bill McKibben- an
Reuters OSLO – Norway’s top court began to hear arguments on Wednesday on the legality of awarding offshore oil licenses in the Arctic, in a landmark case that could stop the industry’s expansion. The lawsuit, led by environmental groups Greenpeace Norway and Nature and Youth, is part of an emerging branch of law worldwide where plaintiffs seek to use a
CNBC President Donald Trump will move to weaken more environmental regulations on industries if reelected in November, while work to complete Superfund cleanup projects, according to Environmental Protection Agency administrator Andrew Wheeler. The Trump administration in a second term would establish a cost-benefit analysis of any new regulation and expand the use of “science transparency” in order to justify the science behind implementing new
Houston Chronicle Everyone from environmentalists to investors is beating up on fossil fuels, and American energy giants Exxon Mobil Corp. and Chevron Corp. are taking increasingly diverging approaches as they try to weather the storm. The problem is, neither strategy is working right now. Exxon is using the downturn in oil, gas and chemical prices as an opportunity to unleash
