Author: Graham Foster

The Trump administration is working on an executive order that aims to boost US self-sufficiency in essential minerals by allowing the stockpiling of metals found on the seabed of the Pacific Ocean. This move is seen as a way to reduce China’s control over key battery and rare earth mineral supply chains. These valuable potato-sized nodules form on the ocean floor over millions of years under extreme pressure. They are rich in nickel, cobalt, copper, and manganese, all critical for making batteries and electrical wiring, plus some rare earth elements. With an eye on becoming more independent in these crucial…

Leading asset manager Legal & General is set to vote against the re-election of BP’s chair, Helge Lund, at the upcoming annual meeting. This decision reflects ongoing discontent among shareholders regarding BP’s recent pivot back to oil and gas, moving away from its ambitious renewable energy plans. Legal & General, which holds a 1.8 percent stake in BP, expressed its “deep concern” over this strategic change and the absence of shareholder consultation on the matter. The asset manager emphasized that climate change poses a significant and long-term financial risk to investors. Additionally, several other smaller shareholders are expected to support…

Dive Brief: Dive Insight: Many of the tankless water heaters available today already follow stricter energy standards. However, a recent decision to reverse these rules could still affect consumers significantly, as per the Appliance Standards Awareness Project. These standards, scheduled to begin in 2029, aimed to reduce energy usage in new gas tankless water heaters by approximately 13% compared to the least efficient models currently sold. The expected savings for households amounted to around $112 over the lifespan of these units, the organization noted. Andrew deLaski, Executive Director of ASAP, expressed concern, stating, “American families are likely to face increased…

Dive Brief: The U.S. Department of Energy (DOE) has granted conditional commitments to five advanced nuclear companies for early supplies of high-assay, low-enriched uranium (HALEU). This initiative comes from the department’s HALEU Availability Program, with the goal of supporting the development of new reactor designs. The companies awarded are Kairos Power, Radiant Nuclear, Westinghouse, TerraPower, and the X-energy subsidiary TRISO-X. These companies successfully met the DOE’s criteria for prioritization among ten applicants, with three needing the fuel within the current year. If finalized, these awards will see HALEU supplied from stockpiles managed by the National Nuclear Security Administration (NNSA) and…

The ongoing tariff conflict between the United States and China is fundamentally reshaping the global economy, with significant consequences for various sectors. Especially impacted is the clean energy industry, where the effects of these tariffs are being closely monitored by investors and stakeholders. Recently, President Trump escalated tariffs on Chinese imports dramatically. Initially increasing tariffs to 104%, he subsequently raised them to 125% and later to 145%. This move has severely strained the trade relationship between these two major economic players. Despite this turmoil, the CSI New Energy index in China showed resilience, climbing over 3% since the tariff hike,…

US shale oil producers are currently facing a significant challenge as crude prices have sharply declined due to the ongoing trade tensions initiated by Donald Trump. This rapid drop in prices has left many in the industry worried about their financial stability. Since Trump’s announcement of new tariffs, oil prices have plummeted by 16%. Many Texas producers, who need prices to remain above a certain level to sustain their operations, are now fearing that some may have to stop their drilling activities altogether. The price for West Texas Intermediate, the benchmark for US oil, slid to below $60 per barrel,…

In recent developments, President Donald Trump announced a temporary 90-day halt on additional tariffs for countries willing to negotiate with the US. This news positively impacted the stock market, yet oil prices continued to exhibit volatility. On a recent Wednesday, the international oil benchmark, Brent crude, saw a rise, settling at $65.48 per barrel. This improvement came after falling below the $60 mark for the first time in four years, prior to Trump’s tariff announcement. Despite this recovery, crude oil prices have significantly declined throughout the year. Reports indicate that shale producers are encountering some of the toughest challenges they’ve…

The Trump administration has recently canceled licenses for gas projects operated by BP and Shell in Venezuelan waters. These projects were intended to supply a vital liquefied natural gas facility that significantly contributes to Trinidad and Tobago’s economy. This decision is part of a broader effort by the U.S. to increase economic and diplomatic pressure on Nicolás Maduro, the president of Venezuela. Maduro’s recent inauguration for a third term has been widely criticized due to allegations of electoral fraud. The licenses pertain to Shell’s Dragon and BP’s Cocuina-Manakin projects, which are collaborations with Trinidad and Tobago’s National Gas Company. These…

Trump Intensifies Pressure on Venezuela’s Oil Industry In a significant shift in strategy, President Donald Trump has ramped up his “maximum pressure” campaign against Nicolás Maduro’s government in Venezuela. This move poses serious consequences for Venezuela’s crucial oil sector. Earlier this year, the Trump administration announced plans to revoke Chevron’s license to operate in Venezuela, alongside similar actions against other Western oil companies. Recently, Trump introduced a 25% “secondary” tariff on oil imports from any country dealing with Venezuela, a drastic step taken amid further tariffs targeted at various sectors. Oil companies are expected to cease operations in Venezuela by…

Key Highlights: The energy services firm launched by Energy Secretary Chris Wright has teamed up to deliver dedicated power generation for data centers and large-load customers at an 875-acre industrial park being developed near Pittsburgh. Liberty Energy will set up modular 25-MW gas-fired power blocks alongside clients in the Fort Cherry Development District, and there is potential to enhance generation capacity to 1 GW or more, according to Mike Brady, Senior Vice President of Power Generation Execution at Liberty Energy. A subsidiary of Range Resources Corporation will supply the power systems’ fuel from the nearby Marcellus Shale, which is noted…