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The nuclear power industry has been enjoying the spotlight lately. In just the past two days, the UK pledged $19 billion in additional funding for a nuclear project, and the World Bank lifted a ban on nuclear financing in developing nations, in place since 2017. A nuclear age is coming. “We need new nuclear to deliver a golden age of clean energy abundance, because that is the only way to protect family finances, take back control of our energy, and tackle the climate crisis,” UK energy minister Ed Miliband said in a statement in comments…
The rise of artificial intelligence (AI) on the global stage has resulted in data centers putting immense strain on global power grids, a turnaround from their previous role as minor electricity consumers. As chatbots become a permanent fixture in work and daily life, demand is being propelled to record heights as each search consumes power. While US data centers consumed 50 terawatt-hours (TWh) of power a decade ago, that figure has risen to 140 TWh today, thereby accounting for 3.5% of the country’s total electricity consumption. …
The computing industry is running out of energy. Though the technology in computer chips has been growing smaller and more energy efficient at a rapid clip for decades, advancements are set to slow down rapidly due to fundamental physical limitations. This is unfortunate timing, as the tech sector’s energy demands (and chip demands) are set to skyrocket as the growth of artificial intelligence’s already prodigious energy footprint outpaces the growth of new energy production capacity. “The semiconductor industry will soon…
Despite the lowest coal prices in Asia in four years, India’s coal power generation dipped in May to the lowest since the Covid lockdowns of 2020, as a lack of heatwaves and soaring renewable energy installations and generation pushed down coal demand in the electricity sector. To be sure, the share of coal in India’s power output remains above 70%, but at 70.7% in May, it was the lowest in three years, according to data from federal power grid regulator Grid India reviewed by Reuters. Natural gas-fired generation and its share in the…
China earlier this year introduced restrictions on its exports of rare earths. The move marked a new stage in the US- China trade spat, when the two sides no longer tried to out-tariff each other but took to more concrete steps. The problem is, the restrictions don’t just apply to U.S. companies. And they may well deliver the fatal blow to Europe’s struggling auto industry. China controls 90% of the world’s rare earths processing capacity. It is the indisputable, if not exactly celebrated in the West, master of the rare earths…
Via Metal Miner The Rare Earths MMI (Monthly Metals Index) found more price stability month-over-month. As a result, it moved sideways, with only a 0.81% increase. Despite this, the short-term outlook for rare earths remains uncertain. Chinese export restrictions jolted prices in H1 of 2025 and fractured long-running supply lines. Shortly after, global automakers warned that Beijing’s April curbs on alloys and magnet exports “could cause production delays” without fast relief. China’s Rare Earths Shockwaves Continue…
US President Donald Trump on June 5 compared Russia's war against Ukraine to children fighting in comments during a visit by German Chancellor Friedrich Merz, telling reporters at the White House that "sometimes you're better off letting them fight for a while." Trump downplayed prospects for an immediate peace between the countries despite his diplomatic efforts to push the two sides to negotiate a cease-fire and eventually a peace deal. The US president has become increasingly frustrated over the lack of progress toward either goal. During last…
Having arrived in Central Asia to make deals, Italian Prime Minister Giorgia Meloni did a lot of name-checking during a policy address at the Astana International Forum. First, she went for the low-hanging fruit, giving a shout-out to Marco Polo, pointing to the legendary 13th century Venetian merchant-explorer to support her assertion that it is in “the DNA of the Italian people” to seek new trade possibilities. She then dusted off a name that had fallen out of favor for decades — Halford Mackinder, the early 20th century British…
Tariff whiplash under the Trump administration has raised a lot of concerns about the United States’ relationship with its first- and second-largest trading partners, Canada and Mexico. This is especially true for energy trade, which all members of the United States-Mexico-Canada Agreement (USMCA) depend on to keep their economies healthy. Experts contend that recognizing the vital role of energy trade for all parties, and strengthening those relationships, is critical in these volatile times. While this is true for all of North America,…
In recent years, Colombia’s oil production and reserves have been in decline and interest in investing in the country’s crude seemed limited in the post-pandemic landscape. In addition, President Petro has been vocal about supporting a green transition and restricting investment in new fossil fuel projects. However, in recent months, there has been a renewed interest in developing exploration and production. Colombia has long relied on its fossil fuel revenues to support the national economy, with oil and gas contributing around…
In his 2003 State of the Union address, President George W. Bush offered a bold vision of a cleaner energy future. Standing before Congress and the nation, he announced a $1.2 billion initiative to develop hydrogen-powered vehicles, proclaiming that “the first car driven by a child born today could be powered by hydrogen and pollution-free.” The appeal was clear: a shift away from imported oil and a meaningful reduction in vehicle emissions. After all, the combustion product of hydrogen is just water. That child would be…
A week ago, the U.S. House of Representatives passed Trump’s “Big, Beautiful Bill” designed to deploy large tax cuts, extra spending on defense and immigration enforcement by primarily leveraging deep cuts to the Inflation Reduction Act (IRA) of 2022. With the contentious bill now headed for the Senate, some energy experts are warning of dire consequences for some renewable energy industries if it becomes law. To wit, the sweeping policy bill seeks to phase out billions in tax credits for the budding green hydrogen and EV battery…
Power grids around the world are decentralizing at a rapid pace as renewable energy production vastly reshapes where electricity is produced. This will require a massive systems overhaul in the way that our power grids are designed, maintained, and protected. Instead of maintaining grid management at a central hub, more and more software and hardware developments are taking place at the grid edge. According to Wood Macenzie, ‘grid edge’ is “an umbrella term to cover all the distributed hardware, software and business innovations…
President Kassym-Jomart Tokayev is trying to position Kazakhstan as a leading advocate for changing “the architecture of international relations” in ways that give “middle powers” a greater say in global affairs. In an opening speech at the May 29-30 Astana International Forum, Tokayev offered a full-throated endorsement for a return to a global order rooted in multilateralism. While many emerging threats, such as global warming, are transnational, “our responses are becoming increasingly fragmented,” he said.…
China has been steadily increasing its energy investing, and therefore its influence, in emerging economies for years now. Through its ambitious Belt and Road infrastructure program, Beijing has poured over a trillion dollars into developing its trade relations around the planet since its inception in 2000. In Africa, China is the primary trading partner, and therefore a critical strategic ally in developing the continent’s energy sector. So far, the vast majority of Chinese investment has gone to the development of fossil fuels, but that…
For most of the past century, energy producers could count on steady oil demand growth. From industrial development in China to population booms in emerging markets, the global appetite for oil kept expanding like clockwork. There were occasional exceptions, like the 2008-2009 recession and the demand slump from COVID-19, but global oil demand has increased at an average rate of about 1.2 million barrels per day (bpd) for nearly 60 years. But a recent forecast from the U.S. Energy Information Administration (EIA) suggests that the world may…
Sales of drilling rights in the oil sands of Alberta are on the decline, reversing an earlier boom. The trend, attributed to Trump’s tariffs and the consequent oil price dive, was aggravated by OPEC+’s decision to unwind its cuts faster than expected. It’s also not going to affect production outlooks for Canadian oil. Land prices in Alberta’s oil sands are down 18% from last year to C$771 per hectare, or $561, Bloomberg reported this week. The trend reflects a wider decline in land lease prices, at 25% from a year ago, and,…
U.S. midstream companies are hesitant to commit to new pipeline builds amid market volatility and tariff uncertainty. Some companies are announcing new projects, especially those bringing natural gas to power data centers, but the industry is generally in a wait-and-see mode regarding greenfield projects despite the Trump Administration’s regulatory push to accelerate energy infrastructure expansion. Firms have announced in recent months new pipeline projects, but many others have preferred to buy operating assets in deals with competitors…
The Department of the Interior has announced that the U.S. Geological Survey (USGS) has discovered large oil and gas deposits in the Mowry Composite Total Petroleum System that spans parts of Wyoming, Colorado and Utah. The report estimates large hydrocarbon resources, including 473 million barrels of oil and 27 trillion cubic feet (tcf) of natural gas. That’s multiples higher than the 90 mn barrels of oil and 7.3 tcf of natural gas that the Mowry Composite system has produced since exploration began in the 1950s. “This new USGS…
Daniel Ives of Wedbush Securities raised his 12-month price target on Tesla to a Street-high $500 from $350 on Friday morning, citing the near-term launch of Tesla's autonomous ride-hailing Cybercabs as a major catalyst to spark the "golden age of autonomy." "We believe the golden age of autonomous is now on the doorstep for Tesla with the Austin launch next month kicking off this key next chapter of growth for Musk & Co. and we are raising our price target from $350 to $500 reflecting this massive stage of valuation…
Via Metal Miner With the United States and China ratcheting down the tariff war (for 90 days at least), many expected that the export of rare earths and permanent magnets would soon return to pre-trade war conditions, as MetalMiner’s weekly newsletter weighed in on in the past. However, that does not seem to be happening on the ground. Now, alarm bells are going off as market insiders anticipate a major shortage in global rare earth supplies. China Allow Some Export of Rare Earths There is a bit of positive news: China has granted…
Exploitation of the vast Vaca Muerta shale in Argentina’s central southwest has unlocked a gargantuan unconventional hydrocarbon boom for the crisis-riven South American country. Rising oil and natural gas production from the 7.7-million-acre shale play is responsible for Argentina’s burgeoning hydrocarbon output, which is proving to be a silver bullet for the crisis-prone economy. President Javier Milei’s economic shock therapy, coupled with soaring oil and natural gas production, has put Argentina on the path to recovery. Growing…
Chevron confirmed Wednesday that a fire has injured at least 17 workers and left one missing on its Benguela Belize Lobito Tomboco (BBLT) offshore platform in Angola. The fire started on Tuesday, with details released to Reuters on Wednesday by Chevron subsidiary Cabinda Gulf Oil Company Ltd. (CABGOC), which operates the platform. Emergency teams are continuing search-and-rescue operations for the missing worker, while four of the injured reportedly remain in serious condition. CABGOC stated that the cause of the fire remains under…
The European Union will propose to G7 finance ministers to lower the price cap on Russian crude from the current $60 per barrel to $50, European Economic Commissioner Valdis Dombrovskis said. Established in December 2022, the G7 oil price cap prevents Western-allied companies from providing shipping, insurance, and related services for Russian crude sold above $60 per barrel. The main objective of the price cap is to cripple Russia's ability to fund its war in Ukraine, while also maintaining reasonable flows of Russian oil to global markets to…
