Energy News Beat
Trump’s executive order boosts Alaska’s resource industry by reversing limits on oil and gas extraction placed by Biden’s regime.
Trump’s executive order boosts Alaska’s resource industry by reversing limits on oil and gas extraction placed by Biden’s regime.
The post Trump Signs Executive Order To Unleash Alaska’s ‘Extraordinary’ Energy Potential appeared first on Energy News Beat.
Energy News Beat
ESG investments are collapsing as ‘sustainability’ agendas drew criticism for prioritizing politics over innovation and financial performance.
ESG investments are collapsing as ‘sustainability’ agendas drew criticism for prioritizing politics over innovation and financial performance.
The post ESG’s Collapse Exposes The Folly Of Woke Investing appeared first on Energy News Beat.
Energy News Beat
Trump’s executive order halts wind projects, citing wildlife threats like eagles and whales, while also blocking the Lava Ridge project hated by locals.
Trump’s executive order halts wind projects, citing wildlife threats like eagles and whales, while also blocking the Lava Ridge project hated by locals.
The post Trump Halts Wind Projects Over Wildlife Threats, Blocks Idaho’s Lava Ridge Project appeared first on Energy News Beat.
Energy News Beat
As Trump is unlikely to approve the waivers, California is scrapping its ambitious plan to ban diesel trucks and cleaner locomotives.
As Trump is unlikely to approve the waivers, California is scrapping its ambitious plan to ban diesel trucks and cleaner locomotives.
The post California Blames Trump As It Ditches Diesel Truck Ban, New Clean-Air Rules appeared first on Energy News Beat.
Energy News Beat
Trump signed an executive order withdrawing the United States from the Paris Agreement for the second time shortly after his inauguration.
Trump signed an executive order withdrawing the United States from the Paris Agreement for the second time shortly after his inauguration.
The post Trump Officially Ditches Paris Climate Deal, Blasts Biden’s Globalist Agenda appeared first on Energy News Beat.
Energy News Beat
The 1970s saw fears of a new ice age, with widespread media and public concern. Today, those climate predictions are often dismissed as misinformation.
The 1970s saw fears of a new ice age, with widespread media and public concern. Today, those climate predictions are often dismissed as misinformation.
The post How The 1970s Ice Age Scare Was A Blueprint For Today’s Climate Hysteria appeared first on Energy News Beat.
Energy News Beat
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Rising borrowing costs and debt levels could trigger a self-reinforcing fiscal crisis, according to Bridgewater Associates’ boss
The UK faces significant fiscal risks due to its rising borrowing costs and increasing debt levels, the boss of the world’s largest hedge fund, Ray Dalio, has warned.
Britain’s annual interest payments have surpassed £100 billion (roughly $125 billion), Dalio, the founder of investment management firm Bridgewater Associates, said in an interview with the Financial Times.
The recent sell-off in fixed-interest loan securities issued by the UK government, known as gilts, coupled with the weakening of the British pound, indicate that the market is struggling to absorb the government’s higher borrowing requirements, he explained.
“When you get to the point that you have to borrow money to service the debt and interest rates are rising, so that debt-service payments rise, so you need to borrow more money to pay them, you’re in what the markets call a death spiral,” the investor told the FT in Tuesday’s report.
The UK’s ten-year borrowing costs rose from 3.75% in mid-September to a 16-year high earlier this month at 4.93%, the outlet noted.
”As those risks increase, everybody looks at that need to borrow more money at higher interest, which creates [a] self-reinforcing debt deterioration cycle,” Dalio also pointed out.
The UK government in October adopted a budget for the financial year 2025/2026, pledging more funding for essential services and social support, and increased debt-servicing costs. Although the government announced tax increases, analysts have pointed out that these may not fully cover the additional spending, particularly amid slower economic growth.
The British pound has been declining since September, having lost about 8.2% of its value against the US dollar. The drop has been attributed to rising borrowing costs, market apprehension about the country’s debt levels, and reduced investor confidence.
READ MORE:
Money problems force UK military to scrap warships and aircraft
The trends have prompted another warning, this one from Berlin-based credit rating agency Scope Ratings. Recent moves in UK debt markets and the falling pound suggest that cracks may be appearing in Britain’s reserve currency status, Reuters reported on Wednesday, citing Denis Shen, a top analyst at the agency. The UK’s vulnerability to emerging market-style sell-offs could jeopardize its AA credit rating, Shen warns.
In response to the challenges, the UK government said it remained “absolutely committed” to strict fiscal discipline. Prime Minister Keir Starmer and Chancellor Rachel Reeves have described their fiscal rules as “ironclad” and “non-negotiable.”
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The post UK faces ‘debt death spiral’ – Ray Dalio appeared first on Energy News Beat.
Energy News Beat
Greece’s Performance Shipping has extended the time charter contract for an aframax tanker with Glencore subsidiary ST Shipping & Transport.
The deal will see the deal for the 2011-built, 105,525 dwt tanker P. Monterey extended for 12 months. The charterer has the option to shorten or extend the deal by 30 days.
The extension started in mid-January. The vessel will work on a gross charter rate of $28,000 per day and is expected to generate around $9.38m in gross revenue for the minimum duration of the charter. The initial two-year deal for the vessel was for a higher rate of $32,000 per day.
The charter increases the company’s secured revenue backlog to approximately $62m, or $232m when including the five-year contracts for its three aframax LR2 newbuildings.
“Our fleet deployment now consists of six vessels operating under time charter arrangements and one vessel trading in the spot market through pool participation. Looking ahead, we remain constructive on the tanker market as we expect the redelivery of two more vessels from their period charters in the coming months,” said Andreas Michalopoulos, Performance Shipping CEO.
The post Performance Shipping extends aframax charter at lower rate appeared first on Energy News Beat.
Energy News Beat
Nearly all modern warming and treeline advances at a Rocky Mountain ice patch occurred between the 1910s and 1940s, challenging global warming claims.
Nearly all modern warming and treeline advances at a Rocky Mountain ice patch occurred between the 1910s and 1940s, challenging global warming claims.
The post Study Finds Modern Warming And Treeline Advances Peaked By 1940s, Defying Climate Narratives appeared first on Energy News Beat.
Energy News Beat
Shares of big Danish offshore wind developer Orsted dropped by 17% Monday, the same day President Donald Trump took the oath of office to become the 47th president of the United States. The two events are not merely coincidental with one another.
To be sure, Orsted’s loss of market cap was caused by several factors, including both the general slowing of the offshore wind business, and Orsted’s own announcement that it will incur a $1.69 billion impairment charge related to its Sunrise Wind project off the coast of New York. Company CEO Mads Nipper attributed the charge to delays and cost increases and said the project completion date is now delayed to the second half of 2027.
But there can be little doubt that the raft of energy-related executive orders signed by Trump also contributed to the drop in Orsted’s stock price. As part of a Day 1 agenda consisting of a reported 196 executive orders, the new president took dead aim at reversing the Biden Green New Deal agenda in general, with a special focus on wind power projects on federal lands and waters.
In addition to general orders declaring a national energy emergency and pulling the United States out of the Paris Climate Accords (for a second time), Trump signed a separate order titled, “Temporary Withdrawal of All Areas on the Outer Continental Shelf from Offshore Wind Leasing and Review of the Federal Government’s Leasing and Permitting Practices for Wind Projects.” That long-winded title (pardon the pun) is quite descriptive of what the order is designed to accomplish.
Section 1 of this order withdraws “from disposition for wind energy leasing all areas within the Offshore Continental Shelf (OCS) as defined in section 2 of the Outer Continental Shelf Lands Act (OCSLA), 43 U.S.C. 1331.” Somewhat ironically, this is the same OCSLA cited in early January by former President Joe Biden when he set 625 million acres of federal offshore waters off limits to oil and gas leasing and drilling into perpetuity.
As with Biden’s LNG permitting pause, the fourth paragraph of Section 1 in Trump’s order states that “Nothing in this withdrawal affects rights under existing leases in the withdrawn areas.” However, the same paragraph goes on to subject those existing leases to review by the secretary of the Interior, who is charged with conducting “a comprehensive review of the ecological, economic, and environmental necessity of terminating or amending any existing wind energy leases, identifying any legal bases for such removal, and submit a report with recommendations to the President, through the Assistant to the President for Economic Policy.”
Observant readers will know that the parameters of this order as it relates to offshore wind are essentially the same as a proposal I suggested in a previous piece here on Jan. 1. So, obviously, it receives the Blackmon Seal of Approval.
But we should also note that Trump goes even further, extending this freeze to onshore wind projects as well. While the rationale for the freeze in offshore leasing and permitting cites factors unique to the offshore like harm to marine mammals, ocean currents and the marine fishing industry, the rationale supporting the onshore freeze cites “environmental impact and cost to surrounding communities of defunct and idle windmills and deliver a report to the President, through the Assistant to the President for Economic Policy, with their findings and recommended authorities to require the removal of such windmills.”
This gets at concerns long held by me and many others that neither the federal government nor any state government has seen fit to require the proper, complete tear down and safe disposal of these massive wind turbines, blades, towers and foundations once they outlive their useful lives. In most jurisdictions, wind operators are free to just abandon the projects and leave the equipment to dilapidate and rot.
The dirty secret of the wind industry, whether onshore or offshore, is that it is not sustainable without consistent new injections of more and more subsidies, along with the tacit refusal by governments to properly regulate its operations. Trump and his team understand this reality and should be applauded for taking real action to address it.
David Blackmon is an energy writer and consultant based in Texas. He spent 40 years in the oil and gas business, where he specialized in public policy and communications.
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.
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The post DAVID BLACKMON: Trump Moves To Reverse Biden’s Green New Deal Agenda — With A Special Focus On Wind appeared first on Energy News Beat.
Pecos Country Operating, LLC is a privately owned oil and gas exploration and production company headquartered in Fort Worth. We own and operate wells across the South Central United States with our predominant means of production coming out of West and North Texas.
