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Leak Reported At Chinese Nuclear Power Plant
Leak Reported At Chinese Nuclear Power Plant A nuclear power plant in southeastern China could turn into an “imminent radiological threat,” the part owner of the facility, a French company, has told the United States, CNN reported on Monday, citing U.S. officials and a letter of the French firm it had obtained. The U.S. has been assessing […]
Oil Markets Baffled As The IEA Calls For More Production
Oil Markets Baffled As The IEA Calls For More Production In its latest Monthly Oil Report, the IEA called on OPEC+ to increase production in order to counter higher demand in 2022. The agency claimed that, based on current global economic growth expectations, demand for crude oil and petroleum products will be reaching pre-COVID levels […]
Saudi Arabia And Russia Warn Of Major Oil Supply Crunch
Saudi Arabia And Russia Warn Of Major Oil Supply Crunch The debate about emissions reduction and the path forward for oil companies moved to a whole new level since the International Energy Agency (IEA) dropped last month the bombshell report suggesting no new investment in oil and gas would be needed if the world is to reach […]
Extreme Drought Puts California’s Power Supply At Risk
Extreme Drought Puts California’s Power Supply At Risk A more severe than usual drought in California has depleted reservoirs and lakes, including the ones feeding some of the largest hydropower facilities, putting the state again at risk of power outages during heat waves this summer. Last year, residents in California went through rolling outages as there was […]
The IEA’s Latest Proposal Is Both Reckless And Impossible
The IEA’s Latest Proposal Is Both Reckless And Impossible The International Energy Agency, which has stepped up its efforts to become a major green energy supporter, appears to have forgotten the reason it was set up as an agency in the first place. In its new report “Net Zero in 2050”, the energy agency calls […]
U.S. Energy Production Saw Steepest Drop On Record In 2020
U.S. Energy Production Saw Steepest Drop On Record In 2020 Due to economic responses to the pandemic, U.S. energy production dropped by 5 percent last year, marking the steepest annual decline on record, the U.S. Energy Information Administration (EIA) said on Thursday. Last year, energy production in the United States fell to just below 96 quadrillion British […]
Extending The European Green Deal Into Eurasia
Extending The European Green Deal Into Eurasia The European Green Deal should be extended to include the Eurasian Economic Union. In June, the European Commission will present a package of bills detailing the European Green Deal, a strategy that aims to reduce CO2 emissions by 55% to 1990 levels by 2030, improve energy efficiency by 32.5%, and […]
Nuclear Reactions At Chernobyl “Cause for Concern”
Nuclear Reactions At Chernobyl “Cause for Concern” Sensors have detected increased levels of neutrons in an inaccessible chamber at the Chernobyl site, signaling that nuclear fission reactions are taking place in the entombed reactor hall, Science reports. The signs that fission reactions are occurring come 35 years nearly to the date when the Chernobyl nuclear power […]
Big Oil Is In Desperate Need Of New Discoveries
Big Oil Is In Desperate Need Of New Discoveries The year 2020 was a watershed moment for the fossil fuel sector. Faced with a global pandemic, severe demand shocks and a shift towards renewable energy, experts warned that nearly $900 billion worth of reserves–or about one-third of the value of big oil and gas companies–were […]
The Ugly Truth About Renewable Power
The Ugly Truth About Renewable Power When Texas literally froze this February, some blamed the blackouts that left millions of Texans in the dark on the wind turbines. Others blamed them on the gas-fired power plants. The truth isn’t so politically simple. In truth, both wind turbines and gas plants froze because of the abnormal weather. And […]
U.S. Oil Bankruptcies Shoot Up In Q1 2021
U.S. Oil Bankruptcies Shoot Up In Q1 2021 The number of North American producers that filed for bankruptcy protection in the first quarter of 2021 reached the highest number for a first quarter since 2016, yet the wave of bankruptcies has significantly slowed since the peaks in the second and third quarter of 2020, law […]
Shell To Exhaust Dwindling Oil & Gas Reserves By 2040
Shell To Exhaust Dwindling Oil & Gas Reserves By 2040 Shell expects to have produced 75 percent of its current proved oil and gas reserves by 2030, and only around 3 percent after 2040, the supermajor said in its Energy Transition Strategy that it will put to a non-binding shareholder vote next month. Discussing the […]
The Iran-China Axis Is A Fast Growing Force In Oil Markets
The Iran-China Axis Is A Fast Growing Force In Oil Markets One of the things that doesn’t get a lot of discussion in the press is the under-the-table relationship Iran and China have had when it comes to oil. At first glance, they wouldn’t seem to have a lot in common. One is a theocracy […]
OPEC+ Will Keep A Lid On Oil Production
OPEC+ Will Keep A Lid On Oil Production OPEC+ will likely decide to keep oil production essentially steady for another month, according to four Reuters sources. Saudi Arabia and the UAE have both spoke out in favor of the need to tread lightly when it comes to how much oil is put into the market. […]
How Will We Pay for the Energy Transition?
How Will We Pay for the Energy Transition? Earlier this month, the International Renewable Energy Agency said the world needed to invest $131 trillion by 2050 in order to limit the estimated global rise in average temperatures to 1.5 degrees Celsius. That’s 30 percent more than what is currently planned. It’s also equal to investments of $4.4 […]
