The United States became the world’s largest exporter of liquefied natural gas a year ago amid a flood of cheap natural gas from the shale wells of Texas and New Mexico that prompted a series of LNG projects along the Gulf Coast. Lately, however, the industry has started to lose …
Read More »Russia Reiterates Claims of U.S. Involvement in Nord Stream Explosions
Russia’s Foreign Minister Sergei Lavrov has claimed that the United States issued the order for the 2022 attacks on the Nord Stream gas pipelines. On 26 September 2022, a series of underwater explosions occurred on 3 of 4 pipes of the Nord Stream 1 (NS1) and Nord Stream 2 (NS2) …
Read More »Tech Companies are Racing to Harness Nuclear Power
With the demand for power increasing rapidly, tech companies are looking for innovative solutions to meet the demand created by artificial intelligence (AI) and other new technologies. In addition to solar and wind power, several tech companies are investing in nuclear energy projects to power operations. The clear shift in …
Read More »A New Era for Nuclear Power in the U.S.
The U.S. Palisades Power Plant could become the first nuclear plant to reopen in the U.S. after shutting down, potentially signaling a new era for U.S. nuclear power. As the U.S. government supports a new wave of nuclear reactor development, in support of a green transition, the reopening of existing …
Read More »Oil Prices Tick down after Surprise Rise in US Crude Stockpiles
Oil prices edged lower on Wednesday after U.S. crude inventories rose unexpectedly and as worries that a wider Middle East conflict could threaten production in one of the world’s major regions for crude production eased slightly. Brent crude futures slipped 41 cents, or 0.5%, to $80.28 a barrel by 10:36 …
Read More »EIA Raises 2024 Forecast for U.S. Crude Oil Demand
The U.S. Energy Information Administration (EIA) has raised its forecast for crude oil demand in the United States, according to the agency’s Short-Term Energy Outlook released today—although its price outlook for this year and next has been revised down. The EIA now sees U.S. petroleum and other liquid fuels consumption …
Read More »Oil Prices Dip amid Unexpected US Inventory Build, Supply Concerns
Oil prices slipped in early Asian trading on Wednesday following a brief rebound in the previous session after industry data showed an unexpected build in US crude oil and gasoline inventories, offsetting global oil supply concerns. Brent crude futures fell 21 cents, or 0.27%, to $76.27 a barrel by 0020 …
Read More »U.S. to Purchase more Oil for SPR while Prices are Low
The U.S. Department of Energy (DOE) is continuing its efforts to bolster the depleted Strategic Petroleum Reserve (SPR) with new oil purchases. Today, DOE’s Office of Petroleum Reserves announced a call for bids to supply up to 1.5 million barrels of oil to the Bayou Choctaw site in January 2025. …
Read More »U.S. Power Plants Hold the Highest Coal Stock Levels since 2020
U.S. electric power plants held a total of 138 million short tons of coal at the end of May, the highest level since the slump in power and coal demand at the start of the pandemic in early 2020, the U.S. Energy Information Administration (EIA) said on Monday. In recent …
Read More »Shale Keeps Getting Leaner and Meaner
U.S. oil production dipped by 61,000 barrels daily in May, the EIA reported this week, confirming what many already expected: continued stringent discipline among drillers. But those expectations may have been misleading because now some producers are planning output boosts—thanks to cost reductions. Last year, shale drillers surprised pretty much …
Read More »