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Diamondback Eyes Natural Gas to Generate Power in Oil Patch

Permian Basin explorer aims to meet electrification demands Company also looking at using small nuclear reactors for power Diamondback Energy Inc., one of the Permian Basin’s biggest oil companies, is considering using some of the natural gas it produces to generate electricity to run drilling and fracking operations. Permian producers have increasingly shifted operations from …

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Chevron CEO Attacks Biden LNG Export Pause on Costs, Carbon

Energy Department enacted gas terminal moratorium in January Shale boom transformed US into world’s biggest LNG exporter The oil and gas industry is zeroing in on the Biden administration’s moratorium on new liquefied natural gas export permits as the key policy they want changed under the next US president. Chevron Corp. Chief Executive Officer Mike Wirth called on …

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Harris Understands Fracking Ban Raises Energy Costs, Industry Execs Say

Fracking site near Midland, Texas, U.S. August 22, 2019. Picture taken August 22, 2019. REUTERS/Jessica Lutz/File Photo (Reuters) – U.S. Vice President Kamala Harris understands natural gas prices will rise if fracking is banned, industry executives said on Tuesday, explaining their confidence that the Democratic candidate will not ban the production method if she becomes …

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Chevron CEO Hits Biden’s Natural Gas Policies, Says Fuel is Crucial for AI

Chevron CEO Michael Wirth on Tuesday criticized U.S. President Joe Biden’s administration for what he described as “attacks on the natural gas” industry and emphasized the crucial role of Permian natural gas in powering the rapid growth of artificial intelligence (AI). The CEO’s remarks followed new government plans over policies to prevent power-hungry AI data …

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Gas Power Roars Back to Drive Data-Center Boom

Utilities in the US are building a slew of plants, putting the government’s clean-energy goals further from reach. The Calpine Los Medanos Energy Center gas-fired power plant in Pittsburg, California. Photographer: Bloomberg Natural gas is back in favor in the US. In the first six months of this year, power producers announced plans to build more gas-fired capacity than they …

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OPEC+ Faces a New Problem: A Texas Gas Pipeline

The new path to market for Permian Basin shale gas could could foil oil producers’ plan to curb output. By Javier Blas Now is the moment when common sense says the US shale industry should be slowing. With oil prices plunging 25% over the last year, you’d expect companies would surely react by cutting drilling. …

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U.S. Solar Jobs Rise 6% in 2023, Study Says

(Reuters) – U.S. solar industry jobs rose 6% last year to nearly 280,000, their highest level ever, according to an annual study known as the National Solar Jobs Census published on Monday by the nonprofit Interstate Renewable Energy Council. WHY IT MATTERS Solar-generated electricity is one of the fastest-growing segments of the U.S. energy industry …

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Investors Turned More Bearish on Oil Last Week Than Ever

Investors were more bearish than ever on crude oil last week, deepening a months-long selloff that pressured prices to multi-year lows amid growing concerns of weak demand in top consuming nations. Negative sentiment swept oil markets so strongly that short positions on Brent crude overtook long positions for the first time, data from the Intercontinental …

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AI Boom Is Driving a Surprise Resurgence of U.S. Gas-Fired Power

Energy companies in the US are planning new natural gas-fired power generation at the fastest pace in years, one of the clearest signals yet that fossil fuels are likely to have a longer runway than previously thought. From Florida to Oregon, utilities are racing to meet a surge in demand from power-hungry AI data centers, …

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