London Climate Action Week took place during an intense heat wave last week, causing some of the planned events to be cancelled and calling extra attention to the urgency of the summit’s cause. One of the biggest takeaways of the event, underscored by the weather, is that Europe has missed critical opportunities to catalyze the clean energy transition and mitigate greenhouse gas emissions. A number of bankers present at the London Climate Action Week were in agreement that “EU authorities risk curbing investments in the continent’s…

Prime Minister Mark Carney threw a wrench into Alberta's West Coast pipeline ambitions on Thursday just hours before Premier Danielle Smith was set to unveil details of the province's long-awaited proposal. Speaking alongside B.C. Premier David Eby in Vancouver, Carney reaffirmed that Ottawa will maintain the federal ban on oil tankers along British Columbia's North Coast, effectively taking one of the most attractive export corridors off the table before Alberta's proposal even reached the federal government. The announcement came as part of a…

Just when the oil market was getting comfortable with the idea that the Strait of Hormuz was reopening, Iran reminded everyone who's still directing traffic. Iran's joint military command warned on Thursday that all oil tankers transiting the Strait of Hormuz must follow routes approved by Tehran or face an "immediate and forceful response." The warning, carried by Iranian state television, also cautioned that any U.S. interference in the waterway would prompt a "rapid and decisive reaction." The warning came a day after U.S. and Iranian negotiators…

Tesla delivered a much stronger-than-expected second quarter, reporting 480,126 vehicle deliveries, well ahead of Wall Street forecasts of roughly 406,600. The company also produced 451,758 vehicles during the period, signaling a meaningful improvement after a slow start to the year, according to CNBC. Shares were volatile on the news and have settled near unchanged into the cash open… The delivery total marked a sharp increase from 358,023 vehicles in the first quarter and was also significantly higher than the roughly 384,000 deliveries…

The U.S. is leading the world in small modular nuclear reactor (SMR) development with 28 siting announcements, as of 2026. This graphic, via Visual Capitalist's Cody Good, in partnership with the National Public Utilities Council, shows which countries are building the most SMRs. The U.S. Leads Global SMR Development With 28 siting announcements, the U.S. has more SMR projects in development than the next four countries combined. Source: The Nuclear Energy Agency Only 78 of 129 SMR designs being tracked by the NEA are publicly reported in the digital…

The Bureau of Land Management is giving California another chance to weigh in on oil and gas leasing—whether the state wants it or not. On Thursday, the BLM opened a 30-day public scoping period for 50 federal oil and gas parcels covering roughly 36,000 acres across Kern, Kings, Fresno, and San Luis Obispo counties. The parcels could be included in a future federal lease sale, marking the latest step in the Trump administration's effort to revive domestic energy development on public lands. If this feels familiar, that's because it is. Just…

The seven-member group of OPEC+ oil producers that has been restraining production since 2023 is set to extend a series of output quota hikes they launched after the U.S. and Israeli strikes on Iran that set off the latest war in the Middle East. Yet the UAE is already shipping record volumes of crude abroad, right after it quit OPEC. According to unnamed sources who spoke to Reuters, the OPEC seven, including Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman, will likely decide to boost their production quotas for August by another…

The Bureau of Land Management is giving California another chance to weigh in on oil and gas leasing—whether the state wants it or not. On Thursday, the BLM opened a 30-day public scoping period for 50 federal oil and gas parcels covering roughly 36,000 acres across Kern, Kings, Fresno, and San Luis Obispo counties. The parcels could be included in a future federal lease sale, marking the latest step in the Trump administration's effort to revive domestic energy development on public lands. If this feels familiar, that's because it is. Just…

Europe Isn't Anti-Air Conditioning. It's Just Calling It Something Else. The recent heatwaves across Europe have reignited a familiar debate in parts of the American media. Articles in publications including The Washington Post and The New York Times have questioned why Europe continues to lag behind the United States in air conditioning, with some suggesting that Europeans remain culturally reluctant to embrace cooling or that governments have actively discouraged its deployment. As temperatures continue to break records, the implication is that…

Crude oil prices are crashing on reports that flows out of the Strait of Hormuz are recovering, and analysts are back to predicting oversupply, even though Iran just said it will not be meeting with the U.S. envoys to negotiate peace, and that comes after strikes on a couple of ships in Hormuz. “The Strait is reopening faster than expected, yet the ‘twin solvers’ of high US exports and low Chinese imports remain in place,” Morgan Stanley commodity analysts wrote this week in a note, as quoted by Bloomberg. “As attention…

Kuwait’s state oil firm, Kuwait Petroleum Corporation (KPC), has asked some of the asset management funds bidding for a stake in its oil pipeline network to tap other investors in their bids for the planned sale estimated at $7 billion, anonymous sources familiar with the process told Reuters on Thursday. Early this year, it emerged that KPC is considering following in the footsteps of its Saudi and Abu Dhabi peers by tapping major international infrastructure investors to buy a stake in its oil pipeline network. KPC held initial talks with…

Kuwait’s state oil firm, Kuwait Petroleum Corporation (KPC), has asked some of the asset management funds bidding for a stake in its oil pipeline network to tap other investors in their bids for the planned sale estimated at $7 billion, anonymous sources familiar with the process told Reuters on Thursday. Early this year, it emerged that KPC is considering following in the footsteps of its Saudi and Abu Dhabi peers by tapping major international infrastructure investors to buy a stake in its oil pipeline network. KPC held initial talks with…

The ripple effect from a severe gas shortage in Russia caused by Ukrainian drone strikes is being felt in Central Asia, where seasonal demand is rising. Kyrgyzstan and Tajikistan are heavily dependent on Russia for energy supplies, so it is no surprise that the ongoing destruction of Russian energy infrastructure threatens to hit two Central Asian states the hardest. Gas stations across Kyrgyzstan are already reporting shortages of high-octane auto fuel, the Moscow Times has reported. State regulators have established price controls on fuels and…

Kyrgyzstan, which imports more than 90% of its gasoline supply from Russia, is concerned that the Russian fuel crisis could cripple supply to the Central Asian nation. Thus, the Energy Ministry of Kyrgyzstan has asked its neighbors, as well as Russia, to help with its fuel supplies. Currently, fuel stocks in Kyrgyzstan remain sufficient, Kyrgyzstan’s authorities have assured the public, but the crisis in Russia could soon begin to be felt in the central Asian nation. “To ensure sustainable fuel supplies, official requests have been…

Russia pummeled the Ukrainian capital in one of its largest drone-and-missile assaults this year, killing at least 17 people, highlighting Moscow's stubborn efforts to pound Kyiv into submission. The July 2 attack came amid weeks of Ukrainian drone strikes that have targeted Russian oil refineries, a campaign that caused fuel shortages nationwide and stoked discontent among Russians disconnected the Ukraine war, now in its fifth year. Russia's military said the assault was in response to “terrorist attacks” against Russian “civilian…

NNPC Limited booked lower revenues in May compared to April despite the higher crude oil and condensate production, the latest monthly figures by the Nigeria's state oil and gas firm showed. NNPC's revenues fell to $3.15 billion (4.335 trillion Nigerian naira) in May, from $3.62 billion (4.97 trillion naira) in April, as oil prices eased from the Iran war-time highs seen in April. Profit after tax also fell in May from the previous month, despite the fact that crude and condensate production inched up to 1.73 million barrels per day (bpd), up from…

NNPC Limited booked lower revenues in May compared to April despite the higher crude oil and condensate production, the latest monthly figures by the Nigeria's state oil and gas firm showed. NNPC's revenues fell to $3.15 billion (4.335 trillion Nigerian naira) in May, from $3.62 billion (4.97 trillion naira) in April, as oil prices eased from the Iran war-time highs seen in April. Profit after tax also fell in May from the previous month, despite the fact that crude and condensate production inched up to 1.73 million barrels per day (bpd), up from…

NNPC Limited booked lower revenues in May compared to April despite the higher crude oil and condensate production, the latest monthly figures by the Nigeria's state oil and gas firm showed. NNPC's revenues fell to $3.15 billion (4.335 trillion Nigerian naira) in May, from $3.62 billion (4.97 trillion naira) in April, as oil prices eased from the Iran war-time highs seen in April. Profit after tax also fell in May from the previous month, despite the fact that crude and condensate production inched up to 1.73 million barrels per day (bpd), up from…

Nvidia was the first poster child of the AI revolution. OpenAI turned ChatGPT into a global phenomenon. Google, Microsoft, and Anthropic have since dominated headlines with ever-more-powerful models. But throughout history, the biggest fortunes made during a technological revolution rarely went to the most famous names. The California Gold Rush didn't create the most wealth for gold miners. It created fortunes for the people selling picks, shovels, railroads, and infrastructure. The same dynamic is emerging in AI. The future won't be decided by…

For years, U.S. President Donald Trump has loomed large over California's energy and environmental sectors as he tries to promote fossil fuels and roll back the state’s climate initiatives, with varying degrees of success. Back in 2019, the Trump administration effectively revoked California's federal waiver under the Clean Air Act that allowed the state to set its own stringent greenhouse gas emissions standards. The president has been even more aggressive during his second term. Last year, Trump utilized federal agencies to mandate the…