Author: Graham Foster

GE Vernova is getting ready to finalize its acquisition of Prolec GE next month. This move is expected to strengthen its position in the global market for low-voltage electrical distribution equipment and improve its long-term financial outlook. During its fourth-quarter earnings call, the company shared positive news, with CEO Scott Strazik highlighting the strength of their electrification and power segments amid a growing electric power market. However, their wind segment is facing challenges due to shifts in U.S. policy regarding offshore wind projects, although it still experienced solid growth from onshore orders. Key Financial Highlights: Order Backlog: $150 billion in…

The Democratic Republic of Congo is getting close to deciding on the sale of Chemaf, a mining company that is becoming a key example of its new minerals partnership with the United States. Chemaf, which manages the Mutoshi copper and cobalt project, has attracted the interest of at least six potential buyers since being put up for sale in 2023. This sale is important as it will test the new partnership between the U.S. and DR Congo, established in December alongside a peace agreement between DR Congo and Rwanda. The goal of this arrangement is to reduce U.S. reliance on…

European nations are beginning to explore their own oil and gas resources again, moving away from a strategy that emphasized renewable energy investments in recent years. This insight comes from Mathios Rigas, the CEO of Energean, which is one of the largest independent gas producers in Europe. Countries like Greece, Italy, and Cyprus are revising their energy policies following the upheaval in energy markets triggered by Russia’s invasion of Ukraine in 2022. Rigas notes that just a few years ago, Greece was primarily focused on green investments, discussing the closure of coal-fired plants. Now, however, drilling for oil and gas…

Rising energy demand, inflation, and unpredictable weather conditions are driving up electricity costs more quickly than many households can manage, and experts caution that there are no straightforward solutions. Addressing this issue may require a careful approach to policies. Even if effective policies are implemented, it will take time to ease the financial pressure on consumers. The U.S. Energy Information Administration (EIA) forecasts that the average residential electricity cost will reach 18 cents per kilowatt-hour by 2026, marking a 37% increase since 2020. Ray Gifford, a managing partner at a law firm and a former chair of Colorado’s Public Utilities…

By 2026, the electric utility industry is expected to experience significant growth, putting pressure on the existing power grid and its management systems, which have been in place for many years. There is a growing conflict between federal and state agencies about who should oversee this expansion, particularly as costs continue to rise. Meanwhile, the current administration is taking steps to centralize control over the energy sector, promoting an agenda of energy dominance. The articles in our 2026 forecast series provide insights into what lies ahead. This includes expected developments from the Federal Energy Regulatory Commission, the effects of new…

Europe’s innovative nuclear start-ups are looking to shift operations to the US in search of better financing and stronger government support. They express concern over falling behind well-resourced competitors, particularly Chinese firms, in developing advanced technology. The interest in the sector has been spurred by former President Donald Trump’s support for nuclear energy and the exciting potential of small modular reactors (SMRs). This enthusiasm has caught the eye of American investors, leading to significant funding for US nuclear developers, which often surpasses what is available to European firms. Many start-ups on the continent are struggling to maintain liquidity. Some European…

ExxonMobil, known as the largest private oil firm globally, often finds itself facing criticism from climate activists. They accuse Exxon of hindering efforts to combat global warming. However, the company defends its position, stating its commitment to address climate change—considered one of the world’s significant challenges. Exxon recently announced plans for new government policies aimed at improving standards for emissions and establishing a fresh framework for carbon accounting. A new initiative, supported by Exxon and numerous other large corporations, aims to further these efforts. The question remains: will this lead to real progress in reducing emissions, or will it merely…

Federal Reserve Holds Steady Amid Pressure In an unusual winter, New York is facing freezing temperatures. Despite pressure from Donald Trump to lower interest rates, Federal Reserve Chair Jay Powell stated that borrowing costs are not constraining growth and that inflation levels are holding steady. He noted the labor market is stabilizing as well. Powell’s position wasn’t without dissent. Governors Christopher Waller and Stephen Miran, allied with Trump, expressed different views. Ford’s Partnership Sparks Controversy Meanwhile, Ford’s growing ties with Chinese battery maker CATL have sparked discontent among Congress members and competing automotive companies. In Canada, oil production is booming,…

The UK government has decided to reduce subsidies for renewable energy generators by tying them to a lower inflation measure. This move aims to save taxpayer money and help lower energy bills for consumers. However, some investors believe it could undermine confidence in the market. Starting in April, payments under the renewables obligation scheme will be adjusted according to the consumer price index (CPI) instead of the retail price index (RPI). Officials estimate that this change could save approximately £270 million a year by 2030, which they describe as a necessary step due to the subsidy scheme’s rising costs, projected…

Chevron has decided not to increase its capital spending this year to speed up its expansion in Venezuela. This comes as major U.S. oil companies respond cautiously to former President Donald Trump’s call for more investments in the country. Eimear Bonner, Chevron’s chief financial officer, expressed a hopeful outlook for growth in Venezuela but emphasized the need to manage spending carefully while focusing on enhancing production from existing operations. She mentioned that Chevron currently produces 250,000 barrels of oil per day, with the potential to increase that by 50% over the next 18 to 24 months, pending additional U.S. government…