Author: Graham Foster

Oil prices have dropped for three consecutive days, falling nearly 3 percent to reach their lowest point in three years. This decline raises concerns about the impact of U.S. President Donald Trump’s trade war on the economy and crude oil demand. On Wednesday, Brent crude, the global oil standard, fell to $68.33, marking its lowest level since December 2021. Meanwhile, West Texas Intermediate (WTI), the U.S. benchmark, decreased by over 4 percent to hit $65.22. These price shifts followed a report from the U.S. Energy Information Administration (EIA) that revealed a more significant-than-expected increase in domestic crude oil inventories. The…

The CEO of TC Energy, one of North America’s largest pipeline companies, has expressed concerns about new U.S. tariffs on oil and gas imports from Canada and Mexico. François Poirier warns that these tariffs could lead to higher inflation and jeopardize energy security amid growing fears of a trade dispute. In an interview, Poirier emphasized that these tariffs would disrupt the efficient movement of energy and create unnecessary barriers to trade. He advocates for the removal of regulatory obstacles to infrastructure development in order to advance liquefied natural gas (LNG) exports and support electricity growth, especially in the context of…

The CEO of TC Energy, one of North America’s largest pipeline companies, has expressed concerns about new U.S. tariffs on oil and gas imports from Canada and Mexico. François Poirier warns that these tariffs could lead to higher inflation and jeopardize energy security amid growing fears of a trade dispute. In an interview, Poirier emphasized that these tariffs would disrupt the efficient movement of energy and create unnecessary barriers to trade. He advocates for the removal of regulatory obstacles to infrastructure development in order to advance liquefied natural gas (LNG) exports and support electricity growth, especially in the context of…

Dive Brief: NuScale is currently engaged in advanced discussions with leading tech, industrial companies, utilities, and government entities regarding potential small modular reactor projects. They anticipate receiving approval from the U.S. Nuclear Regulatory Commission for their 77-MW reactor upgrade application later this year, as mentioned in a recent earnings report. The company has ordered essential components for six more modules from their partner, Doosan Enerbility, as they prepare for future customer orders. Additionally, they are progressing on a 462-MW power plant project in Romania, working alongside Fluor Corp., as stated by CEO John Hopkins during the earnings call. However, NuScale…

The recent tensions in the transatlantic security alliance have led Europe to face some challenging decisions regarding its energy sources. As discussions about a potential ceasefire between Russia and Ukraine progress, the continent must consider whether to resume gas purchases from Moscow through a Baltic pipeline, with the approval of the US, or to take steps to eliminate its reliance on Russian fossil fuels. For Europe, the economic implications of natural gas consumption are just as complex as the strategic concerns. The spike in natural gas prices in 2022, following Russia’s invasion of Ukraine, played a significant role in driving…

Key Highlights The Massachusetts Clean Energy Center (MassCEC) plans to roll out 100 bidirectional electric vehicle (EV) chargers at no cost to users, including residential, commercial, municipal, and school customers. This initiative is part of a two-year “vehicle-to-everything” (V2X) demonstration project, as announced by Resource Innovations and The Mobility House on February 24. By September 2026, this project is expected to contribute an estimated 1.5 MW of distributed energy storage capacity across Massachusetts, with all installations anticipated to be completed by that time. Rachel Ackerman, MassCEC’s Senior Director of Clean Transportation, highlighted the importance of this demonstration, stating that it…

Welcome to Energy Source, where we turn our attention to the shifts in the energy sector in light of recent U.S. tariffs on imports from Canada and Mexico. The new policy imposes a hefty 25 percent tax on many goods, but oil products from Canada will face a slightly lower duty of 10 percent. This is due to U.S. refineries needing about 4 million barrels a day of Canadian crude to produce various petroleum products. Experts are predicting that these tariffs could lead to higher gasoline prices, especially for consumers in northern Midwest states. The ongoing threat of a trade…

Dive Brief: During a recent earnings call, executives from Edison International, the parent company of Southern California Edison (SCE), assured investors that the recent 14,000-acre Eaton Fire would not adversely affect the company’s financial standing. While the investigation into the fire’s cause is ongoing, company officials have stated that preliminary evidence points to a possible connection with inactive power lines owned by SCE. Edison International is eligible to claim expenses against California’s state-managed wildfire fund, which could protect investors from the financial fallout of the fire, according to CEO Pedro Pizarro. Dive Insight: Southern California Edison has a robust self-insurance…

After Russia launched its large-scale military invasion of Ukraine in February 2022, European nations rushed to find budgetary resources and borrowing options to aid Ukraine’s defense. This was not an easy task for most countries. Following the invasion, Russia halted natural gas supplies to Europe, attempting to deter nations from supporting Ukraine. This move led to a surge in natural gas prices, causing significant financial stress for both businesses and households. For consumers, the rapid rise in energy costs felt similar to an abrupt and steep carbon tax. While many European economies faced hardships, Norway emerged as a significant beneficiary.…

Big companies are stepping up their efforts to purchase electricity from new wind and solar farms, providing a much-needed boost to the renewable energy sector, especially as governments face financial pressures and are cutting back on subsidies. According to recent data from BloombergNEF, sales of renewable electricity through long-term power purchase agreements (PPAs) grew by 35 percent last year. The largest growth was seen in the United States, where tech giants are increasingly securing renewable energy to power their data centers. Nayel Brihi, an analyst at BloombergNEF, highlighted that Amazon was the leading purchaser. He also noted that companies in…