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The system—with an endowment second only to Harvard’s—is diversifying into wind and solar energy at a fraught time for renewables. By Janet Lorin A crypto data center in Pyote, Texas, on land leased from the University of Texas System. Photographer: Jordan Vonderhaar for Bloomberg Markets Scores of wind turbines, each as tall as a 50-story …
Oil-Rich University of Texas Wants to Cash In on AI, Crypto and Power Read More »
(Reuters) – U.S. crude stocks fell last week as refining activity picked up, driving gasoline and distillate inventories higher, the Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 3.6 million barrels to 432.4 million barrels in the week ended June 6, the EIA said, compared with analysts’ expectations in a Reuters poll …
Oil demand growth will remain robust over the next two and a half decades as the world population grows, OPEC Secretary General Haitham Al Ghais said on Tuesday. The organization expects a 24% increase in the world’s energy needs between now and 2050, with oil demand surpassing 120 million barrels per day over that time …
Oil Demand Growth to Continue, No Peak in sight, OPEC Secretary-General Says Read More »
There’s no peak in global oil demand on the horizon and it will take trillions in investment in the coming decades to meet that need, the secretary-general of the Organization of Petroleum Exporting Countries said Tuesday. Primary energy demand is forecast to rise by 24 per cent between now and 2050, surpassing 120 million barrels …
OPEC Secretary-General Takes Aim at Net-Zero Targets ‘Detached From Reality’ Read More »
By Ari Natter and Jennifer A Dlouhy The Trump administration will propose scrapping Biden-era climate mandates requiring the nation’s power plants to curb planet-warming greenhouse gas emissions as soon as Wednesday, according to people familiar with the matter. The Environmental Protection Agency is also set to advance a plan for unwinding limits on mercury and …
Trump Poised to Repeal Biden Curb on Power-Plant Pollution Read More »
By Will Wade US data centers are rapidly driving up demand for power, with the official forecast for electricity consumption next year almost doubling in the past month. Total power usage in the US is expected to climb 2.15% in 2026, spurred largely by a 5% spike from commercial users because of the expansion of …
Data Centers Prompt US to Boost Power-Usage Forecast by 92% Read More »
The U.S. Environmental Protection Agency on Monday proposed approving Texas’ application to oversee its own permitting for projects to inject carbon dioxide underground, a move long sought by that state’s regulators and oil and gas companies with projects in the wings. EPA Administrator Lee Zeldin said Texas is best positioned to protect its drinking water …
EPA Proposes Giving Texas Authority to Oversee CO2 Injection Permits Read More »
Shares are down about 27 per cent in 2025, making it the weakest performer of the so-called Magnificent Seven stocks Bloomberg News Tesla Inc. received a pair of downgrades on Monday, with analysts warning that Elon Musk’s electric-vehicle company is facing a highly uncertain outlook, especially on the political front. The stock fell 1.1 per cent in …
Tesla Hit With Pair of Downgrades Amid Fallout From Trump Feud Read More »
(Reuters) – Canadian Natural Resources has restarted its Jackfish 1 oil sands site in northern Alberta after determining wildfires in the region are a safe distance away. The company said its operations will ramp up over the next several days, targeting full production of approximately 36,500 bpd by June 6. Canadian Natural evacuated non-essential workers …
Canadian Oil Sands Company Restarts Operations as Wildfire Risk Lessens Read More »
(Reuters) – Saudi Arabia, the world’s biggest oil exporter, cut its prices for Asian crude buyers close to the lowest level in four years on Wednesday, in what the market sees as the country’s attempt to regain market share. Saudi Arabia has pushed OPEC+ this year to raise its output targets ahead of schedule. OPEC+ …
Saudi Arabia Cuts July Oil Prices to Asia to 4-year Low After OPEC+ Supply Boost Read More »
