While many were expecting the oil market to open for electronic trading at 6 p.m. ET with a bang, 30 minutes into trading, oil was up by barely 3%, despite the U.S. military’s overnight strikes on Iranian nuclear facilities, a geopolitical incident that might normally have sent oil soaring. At 6:27 p.m. ET, Brent crude was trading up 3.17% at $79.45 per barrel, while the U.S. crude benchmark, West Texas Intermediate (WTI) was trading up $3.18 at $76.19 per barrel in early New York trading.  The muted reaction underscores how firmly markets…

With strong government backing and billions of dollars at their disposal, Middle Eastern oil giants are aggressively expanding into the global liquefied natural gas (LNG) market, aiming to nearly double their LNG capacity within the next decade. Companies like Saudi Aramco, Abu Dhabi National Oil Co. (ADNOC) and QatarEnergy are investing heavily in LNG production and trading, driven by the growing demand for natural gas as a transition fuel and a desire to diversify their portfolios beyond crude. “LNG seems to be still the best bet across…

Over the past two weeks, multiple people have sent me a story about a supposed water-powered car and asked for comment. The story varies, but one widely shared version on Facebook claimed: “In a move that will shake up the global auto industry, Toyota has just unveiled a water-powered engine powered by hydrogen created through electrolysis — emitting only water vapor! No lithium. No charging stations. Just pure disruption.” This is pure nonsense, but I have been hearing similar stories for decades. I believe the first version…

The sun is setting on residential solar in the United States as the Trump administration leans toward pulling the plug on clean energy incentives. In a shift in policy, the latest draft of the  “One Big Beautiful Bill Act” omits residential solar lease providers from the Investment Tax Credit. Already, solar stocks are falling and bankruptcies are ticking up as tension and worries rise.  Until now, home solar and batteries have benefitted from a 30 percent tax credit. That would drop to zero percent 180 days after Trump signs,…

South Africa has long been dependent on coal, finding it difficult to leave fossil fuels in the past for a future in green energy. The African country has produced and exported coal to bolster its economy as well as to provide energy for its population of over 60 million. However, now it has a $2.2 billion coal-exit plan thanks to funding from the World Bank.  Coal contributes around 82 percent of South Africa’s energy mix. In addition, roughly 28 percent of the country’s coal production is exported, primarily through the Richards…

In a dramatic escalation of Middle East tensions, the United States launched targeted strikes on three Iranian nuclear facilities—Natanz, Isfahan, and Fordo—late Saturday, prompting fears of soaring oil prices, market volatility, and a deepening U.S. role in the region’s conflict.  President Donald Trump, announcing the attack on Truth Social and in a televised address, hailed it as a “spectacular military success,” claiming Iran’s “key nuclear enrichment facilities have been completely and totally…

Forget betrayal. Forget backsliding. What global banks are doing right now isn’t a reversal of climate commitments—it’s a long-overdue reality check. In 2024, they dumped nearly $900 billion into fossil fuel financing, according to the latest “Banking on Climate Chaos” report. And while advocacy groups are clutching their pearls, investors are quietly nodding. Banks funding fossil fuels haven’t lost their way—they’ve just stopped pretending. JPMorgan Chase, Bank of America, Citigroup, and Barclays…

A team of researchers in China is using artificial intelligence to help breathe new life into old electric vehicle batteries. Extending the lifespan of lithium-ion batteries used in electric vehicles would be a major boon for making electric vehicles more endurable and cost-effective, help mitigate skyrocketing lithium demand, and slow the flow of critical – not to mention toxic – minerals into landfills. The China-based scientists wanted to discover a molecule that could re-infuse a dead cell with lithium ions, replenishing its capacity.…

Brazil will hold the COP30 climate summit in November, where it is expected to lead the world in supporting a green transition. In recent years, Brazil has made greater efforts to increase its renewable energy capacity and protect the Amazon rainforest from deforestation activities. However, in the lead-up to the summit, Brazil’s government has announced plans to auction new areas for oil and gas exploration and expand fossil fuel production over the coming years, decisions that are at odds with its COP30 presidency.  When Luiz Inácio…

Year after year, the leaders of developing countries across the globe plead with high-income countries to invest in a global green transition. Many low-income countries are open to exploiting their natural resources to develop their renewable energy capacity, through wind and solar, and other energy projects. However, establishing new energy sectors and transitioning away from a reliance on fossil fuels will require significant financing, and many countries simply do not have the funds to invest in green energy. Now, the Inter-American Development…

The U.K. is once again backing nuclear power, with plans to develop new large-scale nuclear plants as well as alternative small modular reactors (SMRs) in the coming decades. This is part of a Labour government plan to accelerate the country’s green transition by expanding its clean energy capacity and shifting away from a reliance on fossil fuels. For decades, the U.K. stopped developing its nuclear energy capacity, due to poor public perception of the energy source, the high costs involved with developing new projects, and a focus on other…

Ontario has always been a clean-energy giant, deriving half of its electricity from nuclear power and 25 percent from hydroelectricity. Now, the central Canadian province is preparing to expand its nuclear energy capacity to meet rising electricity demand. Under a strategy released June 12 called ‘Energy for Generations’, "nuclear power will continue to serve as the backbone of the province's electricity system providing the 24/7 baseload power the province's economy requires.” Electricity demand is expected to rise by 75 percent…

As artificial intelligence transforms our computing systems, economies, and energy footprints, the question of who should regulate artificial intelligence and how is a pressing – and incredibly complex – issue. There’s a political battle currently unfolding in Washington about governance over the sector, and large questions about what limitations should be placed on the fast-evolving sector. Answering these questions will be extremely difficult thanks to high levels of secrecy and opacity within and around the sector.  One…

The UK government is mulling over a change to the law to oil and gas projects in the North Sea in a drive to lower energy bills. Michael Shanks, a minister working under energy secretary Ed Miliband, will be visiting Scotland on Thursday with a decision set to be made on the government’s intervention on legal cases won by environmentalists last year over an oil project by Equinor at Rosebank and a gas field by Shell in Jackdaw. The government has given extra funds for the Department for Energy Security and Net Zero to invest between 2026…

For decades, China has driven the lion’s share of oil demand growth thanks to its remarkable economic boom and large population. However, China is now losing its prominence in global oil markets due to a dramatic slowdown in its economy coupled with the country’s ongoing electric vehicle revolution. Last year, nearly half of all new cars sold in China were electric vehicles, including both battery-electric and plug-in hybrid electric vehicles. Indeed, China's rapid adoption of EVs, as well as rapid growth of high-speed rail and natural…

It was a completely unsurprising surprise announcement.  In a highly unusual statement issued on June 14, a Saturday, Kazakh authorities said they had selected Russia’s state-owned Rosatom to build Kazakhstan’s first nuclear power plant, binding the country further to its northern neighbor. “Finally, the spectacle is over,” Kazakh economist Aset Nauryzbaev, who opposed the project, said in a video after the announcement.  The real surprise came later the same day when Almassadam Satkaliyev, the chair of Kazakhstan’s…

Russia hiked its fuel oil and vacuum gasoil (VGO) exports to India and Turkey in May as buyers preferred to purchase more fuel oil amid falling prices, according to shipping and trade data reviewed by Reuters. Russia’s oil products have been banned in the EU and other Western countries since 2023, so Moscow redirected most of the shipments to Asia and the Middle East. Saudi Arabia has emerged as the top buyer of Russia’s fuel oil as it is taking advantage of discounted prices to use the fuel for summer electricity generation. But Russian…

Russia hiked its fuel oil and vacuum gasoil (VGO) exports to India and Turkey in May as buyers preferred to purchase more fuel oil amid falling prices, according to shipping and trade data reviewed by Reuters. Russia’s oil products have been banned in the EU and other Western countries since 2023, so Moscow redirected most of the shipments to Asia and the Middle East. Saudi Arabia has emerged as the top buyer of Russia’s fuel oil as it is taking advantage of discounted prices to use the fuel for summer electricity generation. But Russian…

Fuel producers just scored a green light from the nation’s highest court to go after California’s aggressive emissions standards. In a 7-2 decision Friday, the U.S. Supreme Court ruled that energy companies like Valero’s Diamond Alternative Energy do, in fact, have standing to challenge the EPA’s 2022 decision that allowed California to impose tougher emissions and electric vehicle mandates than the federal baseline. Justice Brett Kavanaugh, writing for the majority, said plainly: “The government generally may not…

Fuel producers just scored a green light from the nation’s highest court to go after California’s aggressive emissions standards. In a 7-2 decision Friday, the U.S. Supreme Court ruled that energy companies like Valero’s Diamond Alternative Energy do, in fact, have standing to challenge the EPA’s 2022 decision that allowed California to impose tougher emissions and electric vehicle mandates than the federal baseline. Justice Brett Kavanaugh, writing for the majority, said plainly: “The government generally may not…