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Climeworks Is Cutting 22% of Staff as US Climate Backlash Hits Carbon Removal

Carbon Capture, CDN and International News, Emission Reduction, Energy Topics & Technology, Environment, Latest / By

By Akshat Rathi and Coco Liu Founded in 2009, Climeworks constructed a pilot plant in Iceland in 2021 followed by a larger version that began operations in 2024 and is still being built out. Photographer: Heida Helgadottir/Bloomberg Climeworks AG is laying off 106 people, as startups that aim to reverse global warming face a reckoning …

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Group That Blocked New Mexico Utility Merger Eyes Data Centers in Blackstone Deal

Artificial Inteligence, Electricity Grid, Energy Topics & Technology, Latest, US News / By

By Laila Kearney Blackstone’s data center plans may affect TXNM acquisition approval TXNM’s sale agreement follows rising electricity demand from AI data centers New Energy Economy to scrutinize Blackstone’s handling of data centers NEW YORK, May 21 (Reuters) – Blackstone Infrastructure’s (BX.N) plans for data centers in New Mexico will be a deciding factor in …

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US Crude, Fuel Stocks Up as Crude Imports Rise, Product Demand Slips, EIA Says

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

By Georgina Mccartney and Nicole Jao HOUSTON, May 21 (Reuters) – U.S. crude and fuel inventories posted surprise stock builds last week, the Energy Information Administration said on Wednesday, as crude imports hit a six-week high and gasoline, distillate demand slipped. Crude inventories rose by 1.3 million barrels to 443.2 million barrels in the week …

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Elliott Wins Two Seats, Phillips 66 Retains Two Seats in Hotly Contested Board Fight

Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, Oil, Refineries, US News / By

By Svea Herbst-Bayliss and David French Phillips shareholders elect two of activist investor’s nominees Oil refiner also sees two of its nominated directors elected Analysts say vote means some change but no big mandate for transformation Elliott had never had a US based proxy fight go to a vote NEW YORK, May 21 (Reuters) – …

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Inside the First Stargate AI Data Center

Artificial Inteligence, Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, US News / By

By Shirin Ghaffary, Brody Ford, and Emily Chang OpenAI, Oracle and SoftBank hope that the site in Texas is the first of many across the US. The future home of the first Stargate site in Abilene, Texas. Photographer: Bobby Scheidemann for Bloomberg Businessweek Trucks carrying concrete and electrical wiring plod over red clay, weaving in …

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Energy Storage Boom Drives Battery Shift, Leaving Nickel, Cobalt Behind

Batteries, Energy Storage, Energy Topics & Technology, Latest, US News / By

Summary Cheap LFP batteries drive rapid energy storage growth Storage demand for grid transitions expanding exponentially Trend likely to accelerate pivot away from nickel and cobalt (Reuters) – When Fidra Energy acquired a 55-acre (22-hectare) patch of northern England countryside in 2023, its plan to transform it into a 1.45 gigawatt energy storage facility – …

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US Utilities on Dealmaking Spree to Blockbuster 2025

Electricity Grid, Energy Services, Energy Storage, Energy Topics & Technology, Latest, US News / By

(Reuters) – With electricity demand in the United States set to hit record highs over the next two years, utilities are doubling down on assets that can boost their power generation capacity while shedding others to fund their massive spending plans. The U.S. utilities sector – which includes electric, gas and water utilities – has …

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US Natgas Prices Jump 10% On Lower Output, Higher Demand and Technical Buying

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, LNG, Natural Gas, US News / By

(Reuters) – U.S. natural gas futures soared about 10% on Tuesday on a decline in daily output, forecasts for more demand next week, long-term forecasts for a hotter-than-normal summer and what some analysts called a technical bounce. Gas prices fell about 7% and closed below the 200-day moving average on Monday, which some analysts said …

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US Shale to Plateau if Oil Stays in Current Range, ConocoPhillips CEO Says

Conventional Energy, Energy Topics & Technology, Latest, LNG, Mergers and Acquisitions, Natural Gas, Oil, Shale, US News / By

U.S. shale oil output will flatten out if prices remain where they are now and will start to decline with prices in the $50s per barrel, the CEO of ConocoPhillips said on Tuesday in the latest prediction that oil’s slump could curb U.S. supply. The comments from Conoco CEO Ryan Lance come as forecasters including …

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AI Power Demand is Generating Hallucinations

Artificial Inteligence, Conventional Energy, Electricity Grid, Energy Topics & Technology, Latest, Natural Gas, US News / By

(Reuters Breakingviews) – A sprawling global network of silicon has sprung up to power artificial intelligence. Housed within data centers, these chips demand vast sums of electricity to crunch the numbers behind the likes of ChatGPT. Yet both technology giants and energy utilities are incentivized to pad projections for how many of these facilities need …

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