Author: Graham Foster

Key Points: Although President-elect Donald Trump has a close relationship with Tesla CEO Elon Musk, his proposal to raise tariffs on imported battery materials could impact the growth of energy storage in the U.S. This could also make it tough for some energy developers and operators, according to experts. There is uncertainty about the future of tax credits that were established by the Inflation Reduction Act. However, factors like geopolitical issues and the growth of U.S. clean technology manufacturing could prevent these credits from being canceled next year. Tax credits are less likely to be eliminated given Trump’s emphasis on…

At the UN COP29 climate talks taking place in Baku, negotiators are preparing to establish a new financial target aimed at addressing climate change. In addition to this key goal, discussions will also explore the potential for creating a robust framework for carbon markets. The implications of a potential Trump victory for Biden’s green initiatives will be evaluated, while China continues to advance its cleantech sector. Meanwhile, the EU faces criticism, and the topic of funding for loss and damage from climate impacts remains a crucial point of discussion.

GE Vernova, the third-largest wind turbine manufacturer in the world (excluding China), is pausing its search for new offshore turbine contracts. CEO Scott Strazik is holding off on new deals as he waits for better market conditions. Strazik mentioned that the offshore wind sector has been facing tough times due to supply chain issues and rising interest rates. Recent political developments, particularly Donald Trump’s potential re-election, add more uncertainty. Trump has promised to hinder offshore wind initiatives in the U.S. from the first day of his presidency, including cutting tax incentives for renewable energy. However, Strazik clarified that GE Vernova’s…

The export of liquefied natural gas (LNG) from the US is becoming a key negotiating point in talks between the US and the European Union (EU). This exchange could potentially increase energy supplies to Europe while persuading former President Donald Trump to avoid imposing heavy tariffs on EU imports. European leaders believe that importing more US LNG can help reduce the continent’s reliance on Russian gas. This move is also intended to address Trump’s worries about the trade deficit. For American companies in the LNG sector, the expanding European market, along with Trump’s commitment to resume export licenses following his…

On the shores of the Caspian Sea, very close to the ongoing COP29 climate summit in Baku, a significant environmental issue is unfolding. A strong greenhouse gas, methane, has been leaking into the atmosphere from oil and gas facilities. Recent observations from sensors on the International Space Station revealed six distinct methane plumes recorded between April and June, all linked to oil and gas operations near Baku. Carbon Mapper, a California-based nonprofit, confirmed that several additional leaks were found throughout Azerbaijan, including near major sites like the Sangachal oil and gas terminal. These emissions, although varying in intensity, are toxic…

Colombia has been working hard to move away from fossil fuels since the election of its first leftist president, Gustavo Petro, over two years ago. However, transitioning to sectors like agriculture, tourism, and renewable energy has proven to be a challenging task. Andrés Camacho, the country’s minister of mines and energy, emphasizes the need for economic diversification, stating, “Without a doubt, in order to substitute the revenues from fossil fuels, the economy must be diversified.” Under President Petro’s leadership, Colombia has halted new oil drilling and exploration contracts and, in a historic move, was the first major oil and coal…

Plans by Mark Zuckerberg’s company, Meta, to create a data center powered by nuclear energy in the U.S. have hit a snag. Sources say that the discovery of a rare species of bee on the proposed site has complicated the project. Zuckerberg intended to partner with a nuclear power plant to secure emissions-free electricity for the new data center, which was aimed at supporting Meta’s ambitions in artificial intelligence (AI). However, discussions ran into problems involving environmental regulations and other challenges. During a recent company-wide meeting, Zuckerberg mentioned the rare bee finding as a significant obstacle, according to insiders. This…

The reliance on Russian nuclear fuel is a significant challenge for Western nations, especially in light of the ongoing geopolitical tensions. Nicolas Maes, the CEO of Orano, which is the second-largest supplier of enriched uranium in the West, has indicated that breaking away from Russia needs more than just political will; it requires substantial investment and guarantees from alternative suppliers. Since Russia invaded Ukraine in 2022, the nuclear fuel supply chain has largely escaped the sweeping sanctions that have impacted the oil and gas sectors. This is mainly due to Russia’s monopolistic control over around 40% of the global enrichment…

Three oil and gas companies are expected to acknowledge that the UK government made a mistake in granting them licenses for two significant offshore projects. This acknowledgment comes just before an important court case that could impact future fossil fuel developments. The companies in question—Shell, Ithaca, and Norway’s Equinor—plan to argue that they should still be permitted to move forward with their projects: Rosebank in the North Atlantic and Jackdaw in the North Sea. Documents obtained reveal that Greenpeace and Uplift, two environmental groups, have brought judicial reviews against the government regarding these licenses. They claim that the environmental assessments…

Dive Brief: NRG and Renew Home are teaming up to roll out smart thermostats across Texas, aiming to establish a virtual power plant (VPP) with nearly 1 GW of capacity by 2035. This initiative, backed by Google Cloud, will start installing Vivint and Nest smart thermostats in selected homes starting in spring 2025. The VPP could expand to include home batteries, electric vehicles, and other energy resources. With the help of Google Cloud’s data and AI tools, NRG aims to enhance weather forecasting and pricing models to boost the effectiveness of the Renew Home VPP and other future projects. Dive…