Category: Energy News Beat

BP Shares Plummet on $2 Billion Impairment Warning

Energy News Beat Shares in BP fell by as much as four percent this morning after it warned it was expected to post an impairment of up to $2bn (1.6bn) and was operating under “significantly” lower refining margins. The FTSE 100 oil major, which in April surprised investors with a better-than-expected oil and gas trading performance […]

US electricity prices rise again as AI, onshoring may mean decades of power demand growth: BofA

Energy News Beat Dive Brief: The year-over-year inflation rate for U.S. electricity prices reached 5.9% in May, up from 3.8% in January, according to Bank of America Institute, a think tank utilizing proprietary data to develop insights into consumer behavior and the economy. Utility payments — including electricity, gas, waste removal and water — declined 1.4%  […]

The End of Chevron Deference: Tapping the Brakes on the Road to Serfdom

Energy News Beat The desire to control so much of other people’s lives is inconsistent not only with liberalism, but with the U.S. Constitution. Government has controlled so much of our lives for so long, it now seems normal, even rational. Where we live. Where we work. Whom we hire. What becomes of our labor. What we eat. The precise share of […]

Germany Nears Decision on Fate of Seized Russian Oil Operations

Energy News Beat Germany is nearing a decision on what to do with the local units of Russian oil major Rosneft PJSC that the government seized two years ago after Moscow’s invasion of Ukraine. The future of the assets will be determined soon, a government official familiar with the matter told reporters Monday. The state-controlled […]

New UK Secretary of State for Energy Security Outlines Priorities

Energy News Beat Ed Miliband, the UK’s new Secretary of State for Energy Security and Net Zero, has outlined his priorities in a message to staff, which was posted on the UK government website. “Our department will be at the heart of the new government’s agenda, leading one of the Prime Minister’s five national missions, […]

Dark Side Of ‘The Next AI Trade’: Seizing Private Property For Transmission Lines

Energy News Beat There’s a dark side to ‘The Next AI Trade’—at least for some landowners. Powering up America and upgrading power grids for artificial intelligence data centers, onshoring trends, and the electrification of the economy will require thousands of miles of new transmission lines nationwide. Existing lines will be upgraded, but new lines will also be needed, […]

‘Will you stop exploring yours?’: Latin America forges ahead on new oil frontier

Energy News Beat About half the countries in the region are experiencing a rush in oil exploration that threatens the global drive to achieve net zero. But many argue that they have a right to enrich themselves in the same way the west has His raised hands dirty with oil, the president of Brazil, Luiz […]

Freeport LNG terminal in Texas shut down due to Hurricane Beryl

Energy News Beat US LNG terminal operator Freeport LNG has shut down its three-train liquefaction and export plant in Texas due to Hurricane Beryl. “We safely ramped down production at our liquefaction facility on Sunday, July 7, ahead of Hurricane Beryl making landfall,” a Freeport LNG spokeswoman told LNG Prime in an emailed statement on […]

Biden’s Net Zero Plans Have Sent Prices Soaring. It’s Going To Get Worse

Energy News Beat Biden’s betting big on his ‘net zero’ agenda as part of his misguided ideological climate-control vision, even as Americans get walloped. The Biden administration doggedly has pursued a “net zero” climate-control policy since President Joe Biden’s first day in the Oval Office when he recommitted the country to the Paris Climate Accord. […]

NBC News Inadvertently Exposes California’s Taxpayer-Funded Solar Follies

Energy News Beat An NBC News item on lost solar energy unwittingly exposes the folly of big-government climate policies such as the Green New Deal. An NBC News item on lost solar energy inadvertently exposes the folly of big government climate policies such as the Green New Deal, and building mandates. [emphasis, links added] The […]