Author: Graham Foster

Good morning! Today in Energy Source, we turn our attention to the latest developments in the U.S. energy scene following key announcements from both sides of the political spectrum. Recently, Indian billionaire Gautam Adani has faced federal allegations of bribing officials to secure favorable solar power contracts in India. In another significant update, Marc Rowan is being considered as a leading candidate for the Treasury department under President Donald Trump. His potential appointment could have profound effects on U.S. energy policy and the future of the Inflation Reduction Act (IRA), which aims at boosting clean energy and reducing dependency on…

Google has taken a significant step towards sustainable energy by ordering six to seven small modular nuclear reactors (SMRs) from Kairos Power. This makes Google the first major tech company to invest in new nuclear power plants aimed at supplying low-carbon electricity to its data centers. On Monday, both Google and Kairos announced that the tech giant has placed an order for reactors that will collectively generate 500 megawatts of power. This agreement will allow Kairos, a young startup founded just seven years ago, to bring its first commercial reactor online by 2030 and additional units by 2035. Michael Terrell,…

As Donald Trump prepares to take office, concerns grow about his administration’s impact on climate policies. Although his economic team is still being formed, Trump has suggested he might eliminate key green initiatives such as subsidies for electric vehicles (EVs), which were a significant part of Joe Biden’s Inflation Reduction Act aimed at boosting clean energy investments. Howard Lutnick, Trump’s nominee for commerce secretary, has publicly dismissed climate change as an issue for the wealthy. This perspective raises eyebrows, especially given Lutnick’s background as a Wall Street executive. Historically, the US’s withdrawal from green technologies could have significantly hindered global…

BP, along with its partners, has officially approved a significant gas project in Indonesia, estimated to cost around $7 billion. This venture is part of the broader Tangguh liquefied natural gas initiative in Papua, which has been exporting LNG to Asian markets like Japan and China since 2009. BP will manage 40% of the project and will cover that portion of the expenses. The new project will focus on developing the Ubadari field, which is set to supply natural gas to the LNG facility. A key aspect of this initiative is the plan to enhance gas recovery by capturing carbon…

The United States has introduced sanctions against Gazprombank, a significant Russian bank, in an effort to hinder the Kremlin’s capacity to fund its military actions in Ukraine. This new measure announced on Thursday essentially bars Gazprombank, which plays a crucial role in Russian energy transactions, along with its six international branches, from accessing the global finance system dominated by the U.S. According to U.S. officials, Gazprombank has been instrumental for Russia in acquiring military supplies, supporting soldiers, and compensating families of those killed in the ongoing conflict. U.S. Treasury Secretary Janet Yellen emphasized that this comprehensive action will complicate Russia’s…

District energy systems, which are networks of underground pipes that transport steam or water to buildings, have been in use for many years. These systems primarily heat, and in some cases cool, various facilities like campuses, military bases, and urban areas across the globe. Typically, these systems rely on central cogeneration plants that use fossil fuels or biomass for heating. However, there’s a shift happening in the United States with the emergence of thermal energy networks aimed at reducing carbon emissions. Last year, the U.S. Department of Energy provided $13 million to support 11 communities in designing these low-carbon heating…

Hello and good morning from London! We’re back with the latest updates from the world of energy. This past week, tensions in the Middle East have sharply increased oil prices, with Brent crude surpassing $80 a barrel for the first time since August. The impact isn’t limited to oil, as natural gas prices are also climbing. The European benchmark price for natural gas, known as the Title Transfer Facility, has surged nearly 23% since mid-September following Israel’s actions against Hezbollah. Despite Europe being relatively prepared for winter with its gas storage, concerns loom over potential interruptions in liquefied natural gas…

The U.S. Department of the Treasury and the IRS recently announced new regulations aimed at assisting local governments, schools, hospitals, and other eligible entities in jointly investing in clean energy projects. This move is part of the ongoing implementation of the Inflation Reduction Act, which provides clean energy tax credits to organizations that typically wouldn’t benefit from federal tax incentives. Under these new rules, entities that have little to no federal tax liability can now opt for direct pay to access these credits, making it easier for them to participate in clean energy initiatives. One important clarification made by the…

EU ministers have recently shown their backing for nuclear energy as part of their plan for the upcoming UN climate summit, marking a significant step for nuclear power as a viable energy source across Europe. This development follows prolonged discussions that highlighted differences between France and Germany regarding the EU’s approach for the COP29 meeting. Despite the debates, EU nations eventually agreed on the need to promote “low-emissions technologies,” aligning with an earlier agreement made at last year’s COP28 summit which acknowledged nuclear energy’s role. This change signifies a notable shift in perspective towards nuclear power in Europe, especially after…

Canada is facing a significant shift in its energy landscape, moving from being a major exporter of hydropower to now importing electricity from the United States. This dramatic change comes as a result of ongoing drought conditions and extreme weather, dramatically affecting electricity generation across the country. As one of the world’s top producers of hydroelectric power, Canada typically generates about 62% of its electricity from hydropower, primarily in provinces like Québec, British Columbia, and Manitoba. However, prolonged droughts have severely reduced water levels, leading to a drop in hydroelectric production. Consequently, rising power demands linked to advancements in technology…