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Companies Are Dropping Carbon Offsets, But Still Buying the Worst Ones

Carbon Capture, Conventional Energy, Energy Topics & Technology, Latest, US News / By

Purchases of carbon offsets last year fell for the first time since 2016, according to an analysis of 260,000 publicly available transactions. (Corrects the percentage decrease in demand for offsets in the 2nd paragraph of a story originally published on Nov. 27, 2023, and related figures in the first two charts.) Carbon offsets once looked primed …

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Exxon Secures Over 271,000 Acres in Texas waters for Offshore CO2 Capture

Carbon Capture, Energy Topics & Technology, Latest, US News / By

Exxon Mobil said on Thursday it has acquired state leases for over 271,000 acres in Texas state waters for an offshore carbon dioxide (CO2) capture operation. The lease with the Texas General Land Office follows Exxon’s 2021 bid for federal land off the Texas coast for CO2 capture, and its emergence as a high bidder on …

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Russia Pitches BRICS Payment System Aiming to Break US Dominance

Conventional Energy, Latest, Natural Gas, Oil, US News / By

Report says settlements with tokens could save billions Russia has sought to lower reliance on dollar after sanctions Russia is proposing changes to cross-border payments conducted among BRICS countries aimed at circumventing the global financial system, as the heavily penalized country seeks to sanctions-proof its own economy. The alternatives include developing a network of commercial …

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Countries’ Renewable Energy Plans Fall Short of Target, Says IRENA

Hydro, Latest, Renewable Energy, Solar, US News, Wind / By

(Reuters) – Governments’ targets and plans to speed up the use of renewable energy are set to deliver only half of the growth needed to reach a U.N. climate goal to triple capacity by 2030, a report by the International Renewable Energy Agency (IRENA) showed. WHY IT’S IMPORTANT The renewable energy goal set at the COP28 …

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Oil Heads for Weekly Climb on Potential Mideast Supply Disruption

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

(Reuters) – Oil prices softened on Friday but were set for a second weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites. Brent crude oil futures fell 60 cents, or 0.8%, to $78.80 a barrel by 0957 GMT. U.S. West …

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Surge in US Ethanol Exports Offsets Thriving Production

Biofuels, Energy Topics & Technology, Latest, US News / By

By Karen Braun NAPERVILLE, Illinois, Oct 9 (Reuters) – Despite a jump in production, U.S. ethanol stocks dropped significantly last week, partly owing to a sharp rebound in gasoline demand, which neared three-year highs. But record exports have been the factor keeping U.S. ethanol supplies in check over the last several months, even as output of …

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ConocoPhillips Gets US Licenses in Bid to Recoup Venezuela Debt

Conventional Energy, Latest, Oil, US News / By

Licenses allow ConocoPhillips to advance legal efforts Texas-based oil and gas producer owed $10 billion by Venezuela ConocoPhillips has been granted a string of licenses by the US government that allow the oil and gas producer to better position itself to recover some or all of the roughly $10 billion it is owed by Venezuela after …

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A World in Need of More Gas Isn’t Getting New Supply Fast Enough

Latest, LNG, Natural Gas, Pinned Primary, US News / By

With countries still reeling from the energy crisis, delays to LNG projects push relief prospects further out. A wave of new liquefied natural gas supply from projects agreed years ago in anticipation of surging demand keeps getting pushed back, threatening to extend the global energy crisis. Delays from the US to Mozambique promise little imminent …

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GM Hints at Cheaper Electric Truck With 350-Mile Range

Electric Vehicles, Energy Topics & Technology, Latest, US News / By

The Detroit-based automaker is working to secure a supply of lithium iron phosphate batteries General Motors Co. hinted that it’s developing a lower-cost electric pickup truck that could boast a 350-mile range. The Detroit-based automaker is working to secure a supply of lithium iron phosphate batteries in North America, said Kurt Kelty, GM’s vice president …

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US Gasoline Demand Rose by the Most in a Single Week Since 2001, EIA Data Shows

Energy Topics & Technology, Gasoline, Latest, US News / By

(Reuters) – U.S. gasoline demand rose by more than 1.1 million barrels per day in the week ended Oct. 4, the sharpest weekly increase since February 2001, data from the U.S. Energy Information Administration showed on Wednesday. Product supplied of gasoline, EIA’s measure of demand, hit 9.7 million barrels last week for the first time …

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