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It looks easy enough: Ask ChatGPT something, and it responds. But pull back the curtain, and you’ll find that every ChatGPT prompt and Microsoft Copilot task consumes vast resources. Millions of human beings engineering, correcting and training models. Enough terawatt-hours of electricity to power countries. Data center megacampuses around the world. Power line networks and …
Summary Brent, WTI both up more than 3% this week EU imposes new sanctions on Russia, US also weighs more China stimulus expected to support demand IEA forecasts a supply surplus in 2025 LONDON, Dec 13 (Reuters) – Oil prices rose more than 1% Friday, heading for their first weekly rise since the end of …
Summary Geothermal energy in its infancy Shale drilling drew opposition from environmental campaigners More than $1 trillion in investment needed (Reuters) – The shale drilling techniques that led to a boom in oil and gas output have also spurred the development of geothermal, which in theory could provide a stable source of power equal to …
Shale Drilling Techniques Could Lead to a Geothermal Surge, IEA Says Read More »
While tariffs can be disruptive in any market, they threaten to be particularly troublesome for a North American energy industry that already largely favors U.S. interestsBloomberg News Though U.S. president-elect Donald Trump exempted energy products from tariffs during his previous term, his threat last month said they will apply to “ALL products” from Canada and …
No Winners Seen in Trump’s ‘Hugely Destructive’ Energy Tariffs Read More »
The rivalry between Standard Oil descendants is set to boil over as they battle for control of Guyana’s massive patch. The rivalry between Exxon Mobil Corp. and Chevron Corp. is thinly veiled during the best of times. But it’s ripe to spill into the open next year as they make starkly contrasting pitches to Wall …
Exxon and Chevron Offer Wall Street Opposing Visions Read More »
U.S. coal traders have exported the highest volume of thermal coal in six years over the first eleven months of 2024, and look set to ship out even greater volumes in 2025 once President-elect Donald Trump takes office. U.S. exports of coal used in power generation hit 32.6 million short tons from January through November, …
Hefty US Thermal Coal Exports Look Set to Keep Climbing in 2025: Maguire Read More »
Summary Sees overhang of up to 1.4 million bpd in 2025 Sees higher 2025 demand growth on China stimulus Trims 2024 oil demand growth forecast by 80,000 bpd (Reuters) – The world oil market will be comfortably supplied in 2025, the International Energy Agency (IEA) said on Thursday, even after producer group OPEC+ extended oil supply …
IEA Expects Comfortably Supplied Oil Market in 2025 Despite Demand Hike Read More »
Summary Lobbyist for Exxon investigated for role in hacking operation targeting environmentalists Green groups urge scrutiny of any potential Exxon ties to spying Exxon says: ‘If there was any hacking involved, we condemn it’ WASHINGTON, Dec 12 – Two Democratic senators and a host of environmental groups have called for investigations and accountability following a …
US Senators, Green Groups Call for Accountability Over Hacking of Exxon Critics Read More »
Summary IEA raises oil demand growth forecast for 2025 EU sanctions target ‘shadow fleet’ carrying Russian oil US gasoline, distillate stocks up more than expected last week (Reuters) – Oil prices were little changed on Thursday as a forecast for ample supply in the oil market offset optimism stemming from rising expectations of a U.S. …
Oil Little Changed as IEA Surplus Forecast Offsets Rate Cut Optimism Read More »
(Reuters) – U.S. crude inventories fell for the third time in a row, while fuel stockpiles rose in the week ending December 6, the Energy Information Administration (EIA) said on Wednesday, as refinery activity remained seasonally strong. Crude inventories fell by 1.4 million barrels to 422 million barrels, the EIA said, compared with analysts’ expectations …
US Crude Stocks Fall, Fuel Inventories Rise on Robust Refining, EIA Says Read More »
