Nasdaq The Biden administration’s decision to exclude the existing U.S. fleet of natural gas power plants from upcoming carbon emissions regulations raises questions over the nation’s ability to meet its climate goals, according to researchers. Cleaning up the U.S. power industry, source of about a quarter of the nation’s greenhouse gas emissions, has been a central plank of President Joe
Yahoo Finance Utility firm Duke Energy missed fourth-quarter profit estimates on Thursday on higher interest expenses and raised its five-year capex by $8 billion to support its transition to renewable energy. The U.S. Federal Reserve’s interest-rate hikes to tame inflation have made borrowing more expensive for businesses, impacting utility firms like Duke. The company’s quarterly interest expense for its Electric
Oil Price Something strange is happening in the U.S. oil patch. Oil drilling—an activity that has always been energy-intensive—has turned into a massive drain on the grid. The trend is an ironic twist to the U.S. grid problem, which is how to accommodate soaring demand for electricity in a non-inflatable grid. Last November, the North American Reliability Corp. warned that blackouts could
Oil Price Back in the middle of 2023, the International Energy Agency reported that electricity demand is on the decline in advanced economies. The IEA said at the time that demand for electricity in the U.S. alone was set to drop by 2% in 2023. Instead, demand is surging. And warnings of blackouts are multiplying. This weekend, the Electric Reliability Council of
Oil Price Ford said on Thursday that half of all 1,550 Ford dealers chose to sell electric vehicles in 2024—down from two-thirds that said this time last year that they would opt in to sell EVs for 2023. The other half of Ford dealers will sell—and service—ICE and hybrid models. “EV adoption rates vary across the country, and we believe our
Nasdaq Ukrainian energy consumption hovered near record highs on Friday, increasing strains on the fragile power sector as nearly 500 settlements faced blackouts due to Russian shelling, air strikes and bad weather, officials said. Ukraine, an exporter of electricity before Russia’s invasion in February 2022, has been forced to turn to emergency power imports from neighbouring Romania and Poland this
Oil Price Not enough shareholders of Australia’s top energy retailer, Origin Energy, backed on Monday a takeover bid from a Brookfield-led consortium of investors, leading to a collapse of a proposed $11-billion deal. A total of 68.92% of the votes cast by Origin Energy’s shareholders were in favor of the bid, short of the required 75% majority necessary to approve
Oil Price The Biden administration is pushing for widespread electrification in less than 20 years through government subsidies and coercive regulations as part of its aggressive climate agenda. The truth is that President Joe Biden’s goals are an illusion at the expense of the American people. While EV proponents try to claim that EVs will soon be cheaper than gasoline vehicles,
Nasdaq LONDON – Giant batteries that ensure stable power supply by offsetting intermittent renewable supplies are becoming cheap enough to make developers abandon scores of projects for gas-fired generation world-wide. The long-term economics of gas-fired plants, used in Europe and some parts of the United States primarily to compensate for the intermittent nature of wind and solar power, are changing
Nasdaq U.S. developers building renewable energy projects and power storage for grids are scrambling to procure critical components, leading to rising costs and project delays. Supply chain problems have tightened supply of high-voltage transformers necessary to connect wind and solar farms and batteries to the grid, projects that are key to the energy transition. The long lead-time for delivery of
Yahoo Finance HOUSTON – Exxon Mobil said on Monday it plans to start producing lithium from subsurface wells by 2027 to provide supplies of the key metal used in electric-car batteries and advanced electronics. Oil majors are investing in the electrification sector as governments in the United States and Europe set programs to promote wider use of electric vehicles and
Investing The Electric Reliability Council of Texas (ERCOT) sought bids from power producers on Monday to increase its operating reserves by around 3,000 megawatts in case of any unexpected spikes in demand during the upcoming winter season. The Texas grid has been concerned about extreme weather since a deadly storm in February 2021 left millions without power for days as
