The US government is under pressure from the Fusion Energy Industry to provide billions of dollars in support
On Monday, fusion energy industry leaders met U.S. Department of Energy representatives to encourage them to provide billions of dollars to projects that seek to?generate electrical power by the same process as the sun. In November, the?department?created an Office of Fusion as part of a reorganization which focused on fossil and nuclear energy. Renewable energy offices were eliminated. The Trump administration has reversed…
Virginia data centers to replace coal where coal once reigned
Entrepreneurs are now looking at the rural area with the ambitious vision to rebuild its economic by converting the old mines into data centers and solar power systems that could help feed the growing power demand of the artificial-intelligence boom. A non-profit group called Energy DELTA Lab (Discovery, Education, Learning & Technology Accelerator), which is aiming to develop energy resources on approximately 65,000 acres in southwest Virginia, is currently working on such a project.
Trump Energy Department reorganizes to focus on fossil and nuclear priorities
The U.S. Department of Energy announced on Thursday a reorganization of its agency, which prioritizes oil and nucleic resources over offices dedicated to renewables or efficiency. DOE released a new organization chart along with a short statement stating that the changes aligned to President Donald Trump’s agenda of energy dominance. The chart includes several new divisions including the Hydrocarbons Office, Geothermal Office and Office of Fusion.
Plug Power will unlock $275 Million in data center power market
Plug Power said it expects to generate over $275 million through monetizing assets and releasing restricted funds, while reducing maintenance costs. The hydrogen fuel cell manufacturer is shifting its focus to high-return opportunities, and the rapidly growing data center market. The shares of the company rose over 10% during premarket trading. The company signed an non-binding letter to intent to monetize their electricity rights in New York, as well as another U.S. city.
Poland is in talks with the US to import more LNG to supply Ukraine and Slovakia
Two sources familiar with negotiations say that Poland is working to secure a deal for the import of liquefied gas from the U.S. in order to supply Ukraine and Slovakia. This agreement would strengthen the European Union's relationship with American energy. The Polish Energy Ministry confirmed the talks late Wednesday night. One source said that officials expect to announce a declaration jointly boosting imports following a meeting between the parties during a transatlantic conference on energy in Athens this week.
Poland Working on Deal to Import US LNG to Support Ukraine, Slovakia
Poland is working on a deal to import liquefied natural gas (LNG) from the U.S. to supply Ukraine and Slovakia, an agreement that would further tighten the European Union’s ties to American energy, according to two sources familiar with the negotiations.Officials expect to announce a joint declaration to boost imports after a meeting of the parties at a transatlantic energy conference in Athens later this week, one of the sources said."After that…
Poland is in talks with the US to import more LNG to supply Ukraine and Slovakia
According to sources familiar with negotiations, Poland is negotiating a deal for the import of liquefied gas (LNG), from the United States, to supply Ukraine and Slovakia. This agreement would strengthen the European Union's relationship with American energy. One source said that officials expect to announce a declaration jointly boosting imports following a meeting between the parties during a transatlantic conference on energy in Athens this week.
Poland is in talks with the U.S. about importing more LNG to Ukraine and Slovakia
According to sources familiar with negotiations, Poland is negotiating a deal for the import of liquefied gas (LNG) to Ukraine and Slovakia. This pact would strengthen the European Union's energy ties with America. One source said that officials expect to announce a declaration jointly boosting imports following a meeting between the parties during a transatlantic conference on energy in Athens this week. One of the sources said that "after that, discussions will follow about terms for supplies to Slovakia".
Utility AEP increases capital spending plan to meet demand for data center power
American Electric Power increased its five-year investment plan from $54 billion to $72 billion Wednesday to meet the unprecedented demand for power by customers such as data centers and industries. In premarket trading, shares of the company increased by 3.2%. U.S. utilities have increased their capital budgets to meet the growing demand from technology companies who are building data centers for complex AI-related tasks.
The US and India are the new drivers of copper demand as China's juggernaut slows.
Over the next decade, copper consumption in India and the United States will overtake China as the demand for the metal in China slows. Beijing's expansion of industrial and infrastructure has fueled a rally which has seen copper prices soar to over $10,000 per metric ton, from $1500 25 years earlier. Analysts expect that other factors, such as demand and prices, will increasingly influence copper's price. Producers, consumers, traders, and investors will need to adapt to the market's many drivers.
The rising tungsten price is a major concern for oil drillers.
U.S. shale drilling companies are paying higher prices for tungsten. This rare metal is used in industrial tools such as drillbits. Chinese export controls have slowed down the supply of tungsten. This threatens President Donald Trump's plans to increase America's fossil-fuel production. Tungsten is used in up to 75% of drill bits deployed in oilfields. The price of the metal has risen to more than $600 per unit metric ton from $330-$340 when Trump first imposed tariffs on Chinese products.
The rising tungsten price is a major concern for oil drillers.
U.S. shale drilling companies are paying higher prices for tungsten. This rare metal is used in industrial tools such as drill bits. Chinese export controls have slowed down the supply of tungsten. This threatens President Donald Trump's plans to increase America's fossil-fuel production. Tungsten is used in up to 75% of drill bits deployed in oilfields. The price of the metal has risen to more than $600 per unit metric ton from $330-$340 early in February.
US to cancel 13 billion dollars in green energy funds
On Wednesday, the U.S. Department of Energy announced that it would cancel over $13 billion of funds pledged by the Biden Administration to subsidize solar, wind, batteries, and electric vehicles. The funds that were targeted weren't immediately apparent. The department didn't immediately respond to an inquiry for more information. The department stated that by returning the funds to American taxpayers, the Trump Administration is demonstrating its commitment to providing more affordable…
EQT Corp. signs 20-year LNG contract with Commonwealth LNG Louisiana facility
The companies announced on Monday that the U.S. energy company EQT Corp would purchase 1 million tonnes of liquefied gas per year (mtpa), from Commonwealth LNG’s planned export facility on the Gulf Coast, near Cameron, Louisiana. EQT will purchase the LNG at a fixed price indexed by Henry Hub, and market and optimize their cargos on an international level. The company stated that the additional export capacity would allow EQT's domestic direct-to customer strategy to be expanded into global energy markets.
EIA expects Brent oil to fall below $60/bbl by Q4
The U.S. Energy Information Administration forecast Brent crude oil spot price will average less that $60 per barrel during the fourth quarter. This would be the lowest average price since 2020. In its August Short Term Energy Outlook, it stated that it expects Brent to be around $50 per barrel by 2026. The global benchmark closed Tuesday at just over $66. The U.S. Department of Energy's statistical arm forecasted a significant drop in oil prices…
Azerbaijan’s SOCAR signs agreements for oil exploration with Exxon and BP
Azeri SOCAR, the state-owned energy company of Azerbaijan, signed agreements with Exxon Mobil & BP for oil and natural gas exploration in Azerbaijan at a conference on energy in Baku. According to the U.S. Department of Energy, Azerbaijan's proven oil reserves are 7 billion barrels. Its proven natural gas reserves are 1.7 trillion cubic meters. The country's oil output has been declining for several years after the Azeri-Chirag-Gunashli (ACG) complex of oilfields passed its peak of 50 million metric tons…
White House to consider plan for clearing record backlog in biofuel waivers for small refineries
The White House is weighing a plan to clear a record backlog of requests from small refineries for exemptions from U.S. biofuel laws, which could include approving many current applications and requesting industry input to deal with older ones, according to three sources familiar with the plans. The U.S. Renewable Fuel Standard requires refiners to blend biofuels like corn-based ethanol into the nation's fuel supply or buy renewable fuel credits, known as RINs, from those who do.
White House to consider plan for clearing record backlog in biofuel waivers for small refineries
Three sources familiar with these plans say that the White House is considering a plan for clearing a backlog of exemption requests from small refineries from U.S. Biofuel Laws. This could include approving current applications and asking industry input on older ones. The U.S. Renewable Fuel Standard (RFS) requires refiners either to blend biofuels such as corn-based ethanol in the nation's fuel supply, or purchase renewable fuel credits known as RINs from those who are doing so.
White House to consider plan for clearing record backlog in biofuel waivers for small refineries
Three sources familiar with these plans say that the White House is considering a plan for clearing a backlog of exemption requests from small refineries from U.S. Biofuel Laws. This could include approving current applications and asking industry input on older ones. The U.S. Renewable Fuel Standard (RFS) requires refiners either to blend biofuels such as corn-based ethanol in the nation's fuel supply, or purchase renewable fuel credits known as RINs from those who are doing so.
Li-Cycle, a battery recycler in Canada, files for bankruptcy protection
Toronto-based Li-Cycle, a lithium battery recycling company, announced on Wednesday it had filed for bankruptcy in Canada. It expects to begin a formal sales process for its assets or business. The U.S. divisions of the firm have also filed bankruptcy proceedings with the U.S. Bankruptcy Court of the Southern District of New York. Li-Cycle, the largest secured creditor of Li-Cycle, has signed a debtor-in-possession agreement…