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The Biden administration awarded $1.2 billion in support of companies looking to pull carbon from the ambient air on Friday. It did so endorsing a specific strategy: that grouping like-minded companies and researchers in hubs is the most effective way to scale the nascent technology. Projects proposed by a subsidiary of Occidental Petroleum Corp. for Kleberg County, Texas, and …

How Biden’s Regional Carbon Cleanup Hubs Could Spur Innovation Read More »

(Reuters) – California’s Independent System Operator (ISO) warned of high temperatures and increased electricity usage during the coming week as the grid operator prepares for tight conditions works to ensure adequate supply. In a notice released on Saturday, ISO said it is closely monitoring the power grid as widespread heat waves can cause supply shortages, …

California grid warns heat wave will stoke power demand Read More »

Aug 11 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a fifth week in a row, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by five to 654 …

U.S. Drillers Cut Oil and Gas Rigs for Fifth Week in a Row – Baker Hughes Read More »

A substantial majority of PDC Energy Inc.’s bondholders say they won’t tender their bonds following the company’s acquisition by Chevron Corp. because the compensation for the swap is too low, according to people with knowledge of the matter. The noteholders organized earlier this week with help of the Credit Roundtable, an investor advocacy group. Barclays …

PDC Bondholders Push Back on Chevron Debt Swap Offer After Tie-Up Read More »

Summary Brent, WTI futures rise 0.5% week-over-week IEA estimates oil demand could rise to new monthly record in Aug Tighter inventories could push oil prices higher – IEA US oil rig count held steady last week – Baker Hughes BENGALURU, Aug 11 (Reuters) – Oil prices edged higher on Friday after the International Energy Agency …

Oil Up on Record Demand Forecast, 7th Straight Weekly Gain Read More »

LONDON, Aug 11 (Reuters) – Prices for diesel and other distillate fuel oils have surged as expectations for a soft landing and an improving economic outlook in the United States threaten to deplete already low inventories even further. Futures prices for ultra-low sulphur diesel delivered in New York Harbor in September climbed to $135 per …

Column: US diesel prices surge anticipating a soft landing – John Kemp Read More »

President Joe Biden said he regretted the name of one of his signature legislative achievements — the Inflation Reduction Act — saying the title didn’t draw enough attention to its impact on the overall economy. “I wish I hadn’t called it that, because it has less to do with reducing inflation than providing alternatives where …

Biden Wishes His Signature Climate Law Was Called Something Else Read More »

FRANKFURT, Aug 11 (Reuters) – Siemens Energy  has fixed quality issues at onshore wind turbines it is currently selling to customers, the CEO of the group’s wind division Siemens Gamesa said on Friday, adding the group had made progress with its turnaround. The comments by Jochen Eickholt come after Siemens Energy this week unveiled 2.2 billion …

Siemens Gamesa has fix for onshore wind turbine problem Read More »

U.S. natural gas futures slipped on Thursday, tracking a retreat in European gas prices ahead of a federal report expected to show last week’s storage build was smaller than usual for this time of year as hotter than normal weather boosted cooling demand. Front month gas futures for September delivery on the New York Mercantile …

U.S. natgas futures dip almost 3% ahead of storage report Read More »

4 key practices I shared with the Congressional Coal Caucus By Alex Epstein Why defend coal? All fossil fuels—oil, coal, natural gas—are under widespread attack, but coal is the most attacked of all. Even many people who say we need natural gas and or oil over the next several decades will say that we should …

How—and why—to defend coal Read More »