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Home2024May

Month: May 2024

Oil
Crude Oil News

Oil Falls as Weak Treasury Auction Boosts Dollar

May 29, 2024 Mariel Alumit

Oil retreated as another weak sale of Treasuries raised concerns about rising yields, stoking a risk-off mood across financial markets. West Texas Intermediate settled below $80 as equities declined. The drop pared Tuesday’s 2.7% gains, […]

White House
Energy Policy

White House to support new nuclear power plants in the U.S.

May 29, 2024 Mariel Alumit

The White House on Wednesday plans to announce new measures to support the development of new U.S. nuclear power plants, a large potential source of carbon-free electricity the government says is needed to combat climate […]

Gold
Finance

The True Cost of Abandoning the Gold Standard

May 29, 2024 Mariel Alumit

Returning to the gold standard would limit the issuance of new currency. There are geopolitical reasons why the US abandoned the gold standard in 1971. Fiat currencies are backed by the interest payments made on […]

Germany
Energy Transition

Germany Repurposes Underground Gas Storage for Green Hydrogen

May 29, 2024 Mariel Alumit

Germany’s government approved on Wednesday a draft law to enable faster development of hydrogen projects and infrastructure by fast-tracking permitting and environmental checks for hydrogen production, storage, and transportation, government sources told Reuters. The so-called Hydrogen […]

America
AI

How Big Tech Helped Bring on America’s New Energy Crisis

May 29, 2024 Mariel Alumit

America produces more energy than any other country in the world, has more energy reserves than any other country, and pioneered clean, inexpensive, and virtually unlimited nuclear energy. So why does even the Washington Post […]

Shell
Big Oil Companies

Shell plans job cuts in offshore wind business as CEO refocuses on oil and gas

May 29, 2024 Mariel Alumit

(Bloomberg) – Shell Plc is preparing to cut staff from its offshore wind business as Chief Executive Officer Wael Sawan moves the company away from the capital-intensive renewable energy sector. The British oil major is […]

Coal Mines
Coal

Active Coal Mines Might Be Key to the Renewable Revolution

May 29, 2024 Mariel Alumit

The US is working to build its own rare earth element supply chain to reduce dependence on China. China currently dominates the market due to decades of investment and lax environmental regulations. Researchers are exploring […]

Virginia
AI

Virginia Explained: Data center expansion, with all its challenges and benefits

May 29, 2024 Mariel Alumit

Humanity is almost a quarter of the way through the 21st century and Virginia — home to 70% of the world’s data centers — is on the frontlines of the latest emerging technology: artificial intelligence, […]

ConocoPhillips
Crude Oil News

ConocoPhillips to buy Marathon Oil in $17 billion all-stock deal that bolsters shale assets

May 29, 2024 Stu Turley

The acquisition of Marathon Oil will extend ConocoPhillips’ reach across shale fields in Texas, New Mexico and North Dakota, adding 2 billion barrels of resources to its portfolio. ConocoPhillips expects share buybacks worth $7 billion […]

Golar
LNG

Golar says progress made on new FLNG deal

May 29, 2024 Stu Turley

Floating LNG player Golar LNG is working to sign definitive agreements for an up to 20-year FLNG deployment. In February, the LNG firm led by Tor Olav Trøim said in its 2023 results report that […]

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