Argentina has become a major mining hotspot in recent years, as energy firms eye the South American country’s vast critical mineral reserves and build upon its strong mining reputation. In addition to lithium and copper, companies are showing interest in Argentina’s uranium reserves, particularly as several governments worldwide look to rapidly develop their nuclear energy capacity. However, many Argentinians are less enthusiastic about the prospect of uranium mining.  Argentina’s uranium resources total roughly 10,500 tonnes…

The conflict in Iran is unlikely to lead to 1970s-style oil rationing, but policymakers must use price mechanisms and encourage domestic energy investment to insure against unpredictable escalations, says Andy Mayer In 1979 the Iranian Revolution sparked the ‘second oil crisis’ as the price of crude oil more than doubled to $40 per barrel. Although global production only fell four per cent, then seven per cent during the following year’s Iran-Iraq war, it took time for policy and global supply chains to adjust. The price shock…

Interest in Virtual Power Plants (VPPs) is increasing across the United States. A VPP relies on the combined power of various renewable energy projects, such as home or small-scale solar and wind power projects. Solar panels and home batteries have significantly increased in popularity in recent years, as people look to drive down energy bills, as well as switch to green energy.  VPPs are networks of small energy-producing or storage devices, which, together, provide power to the electricity grid. Utilities are increasingly partnering with…

As things continue to pop off in the Middle East, the United States is still focused on Venezuela - and has brokered a multimillion-dollar gold deal.  The agreement, first reported by Axios, involves the sale of between 650 and 1,000 kilograms of gold doré bars - which are semi-refined with approximately 98% gold content - from Venezuela's state-owned mining company, Minerven, to the global commodities trader Trafigura. The gold is destined for refineries in the United States, marking a shift in Venezuela's resource exports toward American…

A few years ago, I analyzed the growth of world energy consumption, breaking it down into (a) the growth in energy consumption needed to support the growth in world population, and (b) the growth in energy consumption available to support higher standards of living. This analysis covered the period 1820 to 2020. I found that periods of low growth tended to coincide with wars, depressions, and collapses. This is not surprising in a world economy governed by the laws of physics. Every part of the economy requires adequate energy of appropriate…

Following the United States intervention in Venezuela on 3rd January, which brought an end to President Nicolás Maduro’s 13-year dictatorship, all eyes have been on the South American country’s oil industry. Once one of the world’s biggest oil producers, output has waned in recent years. However, with U.S. President Trump setting his sights on Venezuelan crude, many are speculating just how quickly its resources can be tapped. While the focus is on Venezuela’s potential as an oil power, others think that more immediate…

Azerbaijan risks getting sucked into a widening Middle East conflict after Iran conducted a drone attack March 5 on the Nakhchivan exclave, wounding four civilians.  One of four drones targeting Nakhchivan, a territory sitting on Iran’s northern border, hit a terminal at the region’s airport. Another narrowly missed a school building, according to a statement issued by Azerbaijan’s Defense Ministry. Azerbaijani anti-air defenses shot down one of the drones, the statement added. Iran has denied initiating any attack against…

Americans are experiencing a sharp rise in gas prices this week, with the national average gasoline price posting its largest weekly jump since the early days of the Russia-Ukraine war. If fuel prices continue to climb as the U.S.-Israeli Operation Epic Fury intensifies against Iran, the fallout for consumer sentiment may weigh on the broader economy and affect voting polls in the near term. The surge in gasoline and diesel prices at pumps nationwide doesn't appear to be a concern for President Trump (at least not yet). "I don't have…

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, bringing the total rig count in the US to 551 this week, down 41 from this same time last year. The number of active oil rigs rose by 4 to 411 during the latest reporting period, according to the data. This is 75 below this same time last year. The number of gas sunk by 2, reaching 132, which is 31 more than this time last year. The miscellaneous rig count stayed the same at 8. The latest EIA…

India’s largest private refiner, Reliance Industries, is sounding the market for buying Russian crude, an anonymous source told Bloomberg on Friday, after the United States on Thursday issued a temporary one-month license to India allowing it to purchase Russia-origin crude loaded on vessels before or on March 5.  Even before the waiver was issued, India was considering returning to buying Russian crude amassed in floating storage in Asia as the war in Iran and Tehran’s retaliatory strikes in the region have severely disrupted…

India’s largest private refiner, Reliance Industries, is sounding the market for buying Russian crude, an anonymous source told Bloomberg on Friday, after the United States on Thursday issued a temporary one-month license to India allowing it to purchase Russia-origin crude loaded on vessels before or on March 5.  Even before the waiver was issued, India was considering returning to buying Russian crude amassed in floating storage in Asia as the war in Iran and Tehran’s retaliatory strikes in the region have severely disrupted…

The national average price of gasoline in the United States has jumped to the highest level seen during either of President Donald Trump’s terms in office, per GasBuddy data, as the de facto closure of the Strait of Hormuz is holding back millions of barrels of crude and fuel supplies and leading to price spikes.   WTI Crude, the U.S. benchmark, jumped from $67 per barrel on February 27, just before the Iran war started, to above $84 per barrel a week later as of early Friday. Oil prices are on track for at least a 16% weekly jump…

The national average price of gasoline in the United States has jumped to the highest level seen during either of President Donald Trump’s terms in office, per GasBuddy data, as the de facto closure of the Strait of Hormuz is holding back millions of barrels of crude and fuel supplies and leading to price spikes.   WTI Crude, the U.S. benchmark, jumped from $67 per barrel on February 27, just before the Iran war started, to above $84 per barrel a week later as of early Friday. Oil prices are on track for at least a 16% weekly jump…

Brent tops $90 as the Strait of Hormuz closure halts Gulf oil flows and Iraq and Kuwait begin cutting output, fueling fears of a sharper price surge. Friday, March 06, 2026 When a US President declares that there would be no deal with Iran except for ‘unconditional surrender’, the oil markets rally. Hence, there should be nothing surprising about ICE Brent jumping above $90 per barrel for the first time since April 2024, as the closure of Strait of Hormuz continues, with zero crude oil movement out of the Persian Gulf. With Iraq and…

The United States produces more crude oil than any country in history, pumping more than 13.5 million barrels per day. On paper, that suggests a high level of energy security. But energy security for different states depends on infrastructure and access. For the 39 million residents of California, independence is largely geographic fiction. If the Strait of Hormuz remains constrained, attention will focus on Asia’s large crude importers. Yet a close look at U.S. pipeline maps and refinery configurations shows that California is uniquely exposed…

Oil prices could soar to as much as $150 per barrel within two to three weeks if the critical Strait of Hormuz remains off limits for tankers, Qatar’s Energy Minister Saad al-Kaabi told the Financial Times in an interview published on Friday.   That proclamation came just a few short hours before reports that Kuwait—one of the founding members of OPEC—had begun shutting in oil production at some oilfields as there just simply isn’t anywhere to store any more oil with the Strait of Hormuz still at a standstill.…

Oil prices could soar to as much as $150 per barrel within two to three weeks if the critical Strait of Hormuz remains off limits for tankers, Qatar’s Energy Minister Saad al-Kaabi told the Financial Times in an interview published on Friday.   That proclamation came just a few short hours before reports that Kuwait—one of the founding members of OPEC—had begun shutting in oil production at some oilfields as there just simply isn’t anywhere to store any more oil with the Strait of Hormuz still at a standstill.…

Europe’s benchmark natural gas prices were on track early on Friday for a 50% weekly jump—the biggest one-week surge since the energy crisis in the summer of 2023, as the Middle East war has cut off 20% of global LNG supply.     The implied volatility in the Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, has surged fourfold since the beginning of the year and is at the highest in nearly three years, according to data compiled by Bloomberg.   Early on Friday, the April…

Europe’s benchmark natural gas prices were on track early on Friday for a 50% weekly jump—the biggest one-week surge since the energy crisis in the summer of 2023, as the Middle East war has cut off 20% of global LNG supply.     The implied volatility in the Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, has surged fourfold since the beginning of the year and is at the highest in nearly three years, according to data compiled by Bloomberg.   Early on Friday, the April…

Europe’s benchmark natural gas prices were on track early on Friday for a 50% weekly jump—the biggest one-week surge since the energy crisis in the summer of 2023, as the Middle East war has cut off 20% of global LNG supply.     The implied volatility in the Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, has surged fourfold since the beginning of the year and is at the highest in nearly three years, according to data compiled by Bloomberg.   Early on Friday, the April…