Author: Graham Foster

Last December, the COP28 summit seemed to signal a promising future for clean energy firms and their investors. Representatives from nearly 200 nations committed to tripling global renewable energy capacity by 2030 and doubling efficiency improvements. Achieving these goals could dramatically boost the growth of companies involved in reducing energy emissions. However, this expected growth is taking longer to arrive than many hoped. For instance, the iShares Global Clean Energy ETF, which includes a wide range of climate technology stocks, fell by 6.5% over the year leading up to November 4, while the FTSE World index rose by 26%. Private…

As Donald Trump celebrated his election night victory at Mar-a-Lago, two prominent figures in the U.S. oil industry were with him: North Dakota Governor Doug Burgum and shale oil leader Harold Hamm. Both have been loyal supporters of Trump’s campaign, with Burgum even taking a brief run for the presidency himself. At a dinner arranged by Hamm earlier this year, Trump had called for $1 billion in donations from top oil executives, promising to dismantle President Joe Biden’s climate policies if he returned to the White House. The backing of these oil leaders has certainly paid off for Trump. In…

The COP29 climate summit faced a major setback on Saturday when representatives from 80 small island nations and other vulnerable countries walked out of negotiations. These nations left discussions about how to finance a shift toward a low-carbon economy and address climate change impacts after receiving a revised proposal of $300 billion from wealthier countries, which is $50 billion more than the initial offer. The G77 group of developing nations had been asking for a minimum of $500 billion. A representative from Barbados expressed the sentiment of the group, saying, “We’ve not been offered a deal, we’ve been offered an…

The Federal Energy Regulatory Commission (FERC) has voted 4-0 to mostly maintain its earlier decision regarding transmission planning and cost allocation. However, the updated order provides state regulators with a broader role in forming scenario development and deciding on cost allocation methods. Under the new guidelines, states can extend the negotiation period for cost allocation methodologies from six months to a full year, with compliance deadlines adjusted accordingly. This change aims to enhance state involvement in the planning process. FERC Commissioner Mark Christie, who initially opposed the original order in May, expressed that the revisions give states a much larger…

Good morning and welcome to Energy Source, coming to you from New York. As of last night, over a million households in the southeastern United States were still without power following Hurricane Helene, which tragically resulted in the deaths of more than 180 individuals. This storm has become the deadliest since Hurricane Katrina back in 2005. In West Texas, former President Donald Trump held a private fundraising event in Midland, seeking financial support from oil donors as his campaign progresses. Eyes around the world are focused on Israel, anticipating a response to Iran’s recent missile attack. There are concerns about…

As Texas faces the challenges of unreliable energy systems, recent incidents have highlighted the urgent need for improvements in the state’s energy infrastructure. Severe outages during Hurricane Beryl and Winter Storm Uri left families without power for extended periods, leading to widespread desperation and even loss of life. These events have made Texas a focal point for discussions on energy reliability. In response, there is a growing call for utilities, lawmakers, and energy regulators to rethink their strategies for energy resilience. One promising solution is the use of Distributed Power Plants (DPPs), which harness groups of small energy generation sources…

Ukraine is sounding the alarm over Russian missiles flying over its nuclear power plants daily, a tactic it fears could lead to nuclear accidents. Ukrainian Energy Minister German Galushchenko shared that recent Russian assaults forced one nuclear facility to shut down on August 26 after a substation was hit. Since then, missiles have increasingly been flying over Ukraine’s three major nuclear plants, which are crucial as they supply nearly 60% of the country’s electricity. “This involves three active nuclear stations,” Galushchenko stated. He noted that while one plant went into emergency shutdown in central Ukraine, the other two targeted facilities…

Indian billionaire Gautam Adani is facing serious legal trouble as US prosecutors have charged him in a case involving a longstanding scheme to bribe Indian officials. This alleged plot was aimed at securing beneficial solar power contracts worth over $2 billion in profits. On Thursday, shares of Adani Group’s companies fell sharply after the indictment of the 62-year-old businessman, a major backer of Indian Prime Minister Narendra Modi. The charges against him include securities fraud, and he was indicted in New York along with seven co-defendants, including executives from Adani’s energy branches and a few ex-employees of a Canadian pension…

The world is on the verge of significant changes, especially when it comes to energy. Clean energy sources are becoming more available and cost-effective. Interestingly, China stands out as the leading force in clean energy, although it remains the highest emitter of carbon. Meanwhile, the newly elected president of the United States is known for his skepticism about climate change and his strong support for fossil fuels, hinting at a potential trade conflict with China. Adding to the mix, he has brought on Elon Musk, a major player in clean energy, as an influential ally. With all these developments, what…

Northvolt’s CEO has stepped down just a day after the battery company filed for bankruptcy, raising alarms about the future of Europe’s green energy goals. Peter Carlsson, a former Tesla executive and co-founder of Northvolt, acknowledged that mistakes were made in the company’s strategies. However, he urged European leaders not to lose sight of their ambitions to establish a competitive battery industry against Asian giants. Carlsson emphasized the need for stronger commitment from carmakers, policymakers, and investors to support the transition towards electric vehicles. He warned that hesitation could have long-lasting consequences for Europe’s industrial future, saying, “We will regret…