Europe is embracing nuclear energy with a new vigor. Even the most historically staunch nuclear opponents are softening their restrictions on the carbon-free form of energy production as the continent continues to pivot away from oil and gas imports and toward energy independence in the long shadow of Russia’s invasion in Ukraine and the European energy crisis that followed.  In March, the government of Italy made a significant step toward overturning the nation’s 40-year ban on nuclear power production. In April, leadership in…

 So far, Russia has resisted Western calls for a cease-fire in its war on Ukraine. And so far, US President Donald Trump has resisted calls by Kyiv and European countries to impose additional sanctions on Moscow in response. Trump has threatened to use "devastating" measures against Russia if he feels the time is right. But he has repeatedly said that time has not yet come, voicing concern that imposing new sanctions could undermine his push for peace by hardening President Vladimir Putin's stance. "Only the fact that if I think I'm close…

Carbon capture and storage (CCS) has long been recognized as a critical technology for achieving net-zero emissions, particularly in hard-to-abate sectors like steel, cement, and chemicals. Historically, the United States has been at the forefront of CCS development, propelled by generous subsidies and tax incentives, notably the 45Q tax credit enhanced by the Inflation Reduction Act (IRA). However, recent policy developments in Europe signal a strategic shift that could redefine global leadership in CCS. The U.S. approach: A market-led model facing…

Power grids around the world are decentralizing at a rapid pace as renewable energy production vastly reshapes where electricity is produced. This will require a massive systems overhaul in the way that our power grids are designed, maintained, and protected. Instead of maintaining grid management at a central hub, more and more software and hardware developments are taking place at the grid edge. According to Wood Macenzie, ‘grid edge’ is “an umbrella term to cover all the distributed hardware, software and business innovations…

The US representative to the United Nations told the UN Security Council on May 29 that the deal now on offer to end the war in Ukraine is the best possible outcome for Russia and that President Vladimir Putin should take it. Prolonging the war is in no one's interest, said John Kelley, acting US alternate representative to the UN, warning of the possibility that the United States would "consider stepping back" from its negotiation efforts if Russia "makes the wrong decision to continue this catastrophic war." Kelley added that additional sanctions…

As governments and companies look to a future run on renewable energy, the need for utility-scale batteries is greater than ever. Currently, the dominant battery form is the lithium-ion battery, which is produced using lithium and other critical minerals, a market dominated by China. While this type of battery is extremely useful for electronics, electric vehicles (EVs), and utility-scale storage, demand for lithium is expected to outpace supply in the coming years. For years, researchers have been assessing the potential for alternative battery…

For years, the US has been a stalwart ally to Canada, peacefully sharing the longest international land border in the world. The US and Canada have worked together to develop valuable north-south integration of energy infrastructure that benefits both nations and have partnered to develop common specifications and standards for many products, including petroleum fuels and passenger vehicles.   Recent political events have, however, placed Canada and the US at the cusp of a critical shift in their long and prosperous relationship. The future…

In April this year, China’s BYD hit a first--it sold more cars in Europe than Tesla. Of course, one reason for this was EV fans’ reaction to Elon Musk’s political endeavors, but another was that BYD’s EVs were simply better and more affordable. And now Western carmakers want to learn from BYD and other Chinese sector players how to make their electric cars more attractive—and affordable—for buyers. Caixin Global reported this week that non-Chinese carmakers were “tapping into local expertise and supply…

I predict that the world economy will shrink in the next 10 years. I think that this is bound to happen because of energy and debt limits the world economy is hitting. There are a variety of other factors involved, as well. In this post, I will try to describe the physics-based limits that the economy is facing, related to diminishing returns of many kinds. The problem we are facing has sometimes been called “limits to growth,” or “overshoot and collapse.” Such changes tend to lead to a loss of “complexity.”…

Last Friday, the President signed four separate executive orders designed to accelerate nuclear energy development in the US. The first order directs the Department of Defense to deploy new reactor technologies at military installations. The second order, directed specifically at the Nuclear Regulatory Commission, mandated much tighter deadlines for new reactor approvals, demanded a review of current radiological exposure risks, and called for further agency staffing cuts. The third order directs the Department of Energy to test and approve no…

President Kassym-Jomart Tokayev is trying to position Kazakhstan as a leading advocate for changing “the architecture of international relations” in ways that give “middle powers” a greater say in global affairs. In an opening speech at the May 29-30 Astana International Forum, Tokayev offered a full-throated endorsement for a return to a global order rooted in multilateralism. While many emerging threats, such as global warming, are transnational, “our responses are becoming increasingly fragmented,” he said.…

U.S. crude oil production surged to an all-time high in March, reaching 13.488 million barrels per day, according to newly released monthly EIA data. That edges out the previous monthly record of 13.450 million bpd set in October 2024, and an increase over the 13.153 million bpd in February. The increase reflects steady momentum from the Permian and Gulf Coast operators—even as drilling activity slows elsewhere. But while the supply side flexed its muscle, demand told a different story. Total petroleum product supplied—a broad proxy…

U.S. crude oil production surged to an all-time high in March, reaching 13.488 million barrels per day, according to newly released monthly EIA data. That edges out the previous monthly record of 13.450 million bpd set in October 2024, and an increase over the 13.153 million bpd in February. The increase reflects steady momentum from the Permian and Gulf Coast operators—even as drilling activity slows elsewhere. But while the supply side flexed its muscle, demand told a different story. Total petroleum product supplied—a broad proxy…

This year, the world will generate more nuclear energy than ever before. “The market, technology and policy foundations are in place for a new era of growth in nuclear energy over the coming decades,” the International Energy Agency (IEA) wrote in a report published last month.  “It’s clear today that the strong comeback for nuclear energy that the IEA predicted several years ago is well underway, with nuclear set to generate a record level of electricity in 2025,” stated IEA Executive Director Fatih Birol. “In…

EOG Resources is making a bold northeast push, announcing Friday it will acquire privately held Encino Acquisition Partners for $5.6 billion, including debt. The move positions EOG as a dominant Utica shale player, with 1.1 million net acres and 275,000 boe/d in combined production. The seller, Encino Energy, backed by the Canada Pension Plan Investment Board, controls 675,000 net core acres in the play—most of it contiguous and liquids-rich. That’s precisely what EOG is after. CEO Ezra Yacob called it a “third foundational play”…

The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Friday, following a 10-rig decrease last week, and a 6-rig decrease the week before that. The total rig count in the US fell by 3 to 563 rigs, according to Baker Hughes, down 37 from this same time last year. The number of oil rigs fell by 4 to 461 after falling by 8 during the previous week—and down by 35 compared to this time last year. The number of gas rigs rose by 1 this week, to…

The European Union says China, including Hong Kong, is responsible for "approximately" 80 percent of the circumventions of sanctions against Russia even though Beijing continues to deny it. According to a classified report by the German Foreign Ministry, seen by German newspaper Sueddeutsche Zeitung and the state television networks NDR and WDR, EU sanctions commissioner David O'Sullivan told a meeting in Brussels earlier this month that, while sanctions have a significant impact on Russia's economy, difficulties continue. The media outlets said…

A turbulent week for global energy markets saw oil prices slide amid OPEC+ uncertainty and escalating U.S.-China tensions. The double whammy of OPEC+’s unpredictability and Donald Trump’s heated rhetoric over China ‘totally violating its agreement’ with the US put oil prices under renewed pressure, sending ICE Brent slightly below $64 per barrel with WTI balancing on the edge of the $60 per barrel threshold. Should the weekend bring an OPEC+ surprise of a bigger-than-expected unwinding, the downslide could very well continue…

Defying Lower Oil Prices, Saudi Aramco Goes on Borrowing Spree - Saudi Arabia’s national oil company, Saudi Aramco, is seeking to borrow more from the financial markets to meet its investment needs, having raised $5 billion this week in its first dollar-bond sale of 2025. - The company’s net debt rose to its highest since 2022 as of April 2025, up 18% quarter-on-quarter to 25 billion, although Aramco’s gearing ratio remains relatively low at 5.3%, a fraction of BP’s more than 25%. - According to the IMF, Saudi Arabia’s…

Just under a year ago, I wrote a piece here suggesting that readers look at buying stock in NuScale (SMR), a young company that designs and builds small modular reactors (SMRs). SMRs are a reputedly safer, more manageable type of nuclear reactor, and my argument then was that a shift in where government green energy money was being targeted, towards nuclear power and away from wind and solar, would be good news for NuScale. That has panned out, particularly over the last week or so, with the stock now trading at more than three times what it was…