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Western Firms Eye Multiple Deals In Major Offensive To Take The Iraq Initiative Back From China And Russia There are two distinct superpower strategies at play to capture the very heartland of the Middle East – Iraq. On the one hand, China and Russia want to end the semi-independent status of Kurdistan in the north, have it rolled into the rest of Iraq as a regular province, and then expel all Western firms from the then-unified country. The objective for Beijing and Moscow in so doing was delineated by a very senior member of the Russian…
As data centers place more and more demand on global power grids, policy and economic priorities are shifting from creating more clean energy to creating more energy, period. Projected clean energy additions are simply not enough to meet the runaway demand of the global tech sector, meaning that climate goals could be at risk. The proliferation of artificial intelligence is causing massive increases in energy demand from data centers, and the areas that host them are struggling to keep up. A 2024 study from scientists at Cornell University…
Despite years of climate summits and net-zero targets, global coal consumption and production both hit record highs in 2024. According to the newly released 2025 Statistical Review of World Energy, global coal demand reached an all-time high of 165.1 exajoules (EJ), a powerful reminder of how deeply the world still relies on this carbon-intensive fuel. The Asia-Pacific Powerhouse At the heart of coal’s resilience is Asia. China alone accounted for a staggering 56% of global coal consumption last year, burning through 92.2 EJ. That’s…
The U.S. Nuclear Regulatory Commission on Thursday granted multiple licensing and regulatory approvals necessary for the 800-MW Palisades nuclear plant in Michigan to restart operations later this year. Palisades is now authorized to receive new fuel and formally transition licensed reactor operators to on-shift status, Holtec International said in a statement. The company is leading the effort to restart the plant. “The NRC’s approval to transition Palisades back to an operating license represents an unprecedented…
Over the past couple of years, China has become the world’s largest importer of Liquefied Natural Gas (LNG), surpassing Japan as the top buyer of super-chilled gas since 2021. China’s surging LNG imports have been shaping Asian energy flows, with the country accounting for more than 40% of the continent's total LNG import growth. However, China’s dominance in LNG markets now appears in jeopardy, and we are seeing a prolonged decline in imports. According to ship-tracking data by Kpler via Bloomberg, China’s LNG imports are…
Earlier this week, Chevron completed its acquisition of Hess Corp. It was one of the largest deals in the oil and gas space in recent history, after Exxon’s takeover of Pioneer Natural Resources, finalized in 2024. With that out of the way, the question begs to be asked: could the two U.S. giants strike a deal to create a single, much bigger giant? Some argue it might only be a matter of time. Reuters’ Ron Bousso, for instance, wrote in a recent article that Exxon and Chevron are already partners in a number of projects around the world…
Puerto Rico’s government has pulled the plug on contract talks with New Fortress Energy after the island’s federally appointed oversight board declined to approve a proposed $20-billion LNG supply deal, upending years of negotiations and raising questions about the future shape of its energy transition. According to a report by Hart Energy, the Financial Oversight and Management Board for Puerto Rico withheld support for the contract earlier this month, citing concerns about cost, duration, and long-term fuel dependency. In response,…
Donald Trump’s tariffs are (as of now) set to go into effect on August 1. One of the primary targets of these tariffs is China, Trump’s primary political and economic rival. But not only will the tariffs – which have been negotiated down to 30 percent from Trump’s April threat of 145 percent – not have much of an adverse impact on China’s economy or trade volumes, it will likely provide a significant boost to both as countries around the world are incentivized to trade with Beijing rather than Washington. …
Although the outlook on oil prices and demand has become increasingly uncertain in recent months, analysts continue to recommend the underperforming energy stocks as a good bet for investors. Energy has the highest share of the stocks with “buy” recommendations of all 11 sectors of the S&P 500, according to ratings from Wall Street analysts compiled by Bloomberg. Many experts cite the cheap valuations of the energy sector and the pro-oil and gas policies of the Trump Administration as key drivers of future stock growth. Moreover,…
This month, Finland switched on the world’s biggest sand battery, which will “enable residents to eliminate oil from their district heating network, thereby cutting emissions by nearly 70 percent,” according to Euro News. And if it keeps running as cheaply and efficiently as it appears to be doing now, don’t be surprised if sand batteries start popping up around the world – even in your neck of the woods. The battery, built by Finnish company Polar Night Energy, employs a form of thermal energy storage by using…
In the fast-paced world of clean energy innovation, biomethane is rarely the star of the show. It doesn’t sparkle like solar, boom like batteries, or stir geopolitical intrigue like hydrogen. But quietly, consistently, and with increasing impact, biomethane is doing exactly what many climate technologies still promise to do someday: replacing fossil fuels today. Produced from organic waste, agricultural residues, and even wastewater sludge, biomethane is essentially upgraded biogas with a methane content high enough to substitute fossil natural…
As U.S. President Donald Trump has reignited the trade war with China, he is gutting federal government funding for foreign aid agencies and media outlets, in a move touted as an ‘America first’ approach by his Administration and slammed by Democrats and critics as damaging the U.S. soft power on the global stage. Following decades of efforts to build partnerships and influence, including with the promotion of democratic and free-economy values, the U.S. is now retreating, leaving a void that China would be happy to fill. …
Upstream merger and acquisition (M&A) activity experienced a sharp downturn in early 2025, with global deal value plunging 39% from the fourth quarter of 2024 to just $28 billion in the first quarter of 2025 – less than half the $66 billion recorded in the same period a year earlier. Although activity has picked up in Africa, Asia, and the Middle East, it is not enough to make up for North America’s dominant market share, which stood at 71% of the deal value in the first quarter of this year. As the year progressed, upstream M&A…
Shares of rare earths companies have exploded higher since MP Materials (NYSE:MP) unveiled a game-changing deal with the U.S. Department of Defense that marks the most aggressive federal intervention in the rare earths space in decades. The DoD-backed investment package will see the Nevada-based producer build out a fully domestic magnet supply chain and lock in long-term pricing support for neodymium-praseodymium, the critical alloy used in everything from fighter jets to iPhones. MP shares have doubled in just days, taking year-to-date gains…
They've been debunked. Repeatedly. But like zombies in a horror movie, these oil market myths just won’t stay dead. From campaign slogans to cocktail party arguments, here's what the data really says. 1) The U.S. is Energy Independent Energy independence has been a key slogan in the campaigns and presidential terms of President Donald Trump. Make America Great Again and Make the US Energy Independent have often been tied into one pledge or claim. Fact: While the U.S. became a net petroleum exporter in 2020 for the…
As Russia remains preoccupied with its war in Ukraine, its influence is weakening along its southern border, particularly in Armenia and Azerbaijan. This power shift is opening the door for other players, including Turkey, the European Union, and the United States, to expand their presence in the region, analysts told RFE/RL. On July 10, Armenian Prime Minister Nikol Pashinian and Azerbaijani President Ilham Aliyev met in Abu Dhabi to discuss a potential peace deal, notably without any mediators -- including Russia. Although no breakthrough was…
The Energy Institute recently published its updated energy report, the 2025 Statistical Review of World Energy, showing data through the year 2024. In this post, I identify trends in the new data that I consider worrying. These trends help explain the strange behaviors that we have been seeing from governments recently. A major hidden issue is that prices never seem to rise high enough, for long enough, to prevent production of fossil fuels and other mineral resources from declining relative to what is needed for the world’s rising population.…
The Middle East is on track to surpass Asia to become the world’s second-largest gas producer in 2025, ranking only behind North America, according to Rystad Energy research and analysis. Gas production in the Middle East has grown by about 15% since 2020, and the future growth underscores the determination of regional producers to monetize gas reserves and develop export potential to meet global demand. The region currently produces about 70 billion cubic feet per day (Bcfd) of gas, a figure that is forecast to increase by 30% by 2030 and…
China’s 2024 ban on exports of critical minerals antimony, gallium and germanium to the U.S. sent prices soaring nearly 50% in a matter of days. It was a retaliatory move following Washington's crackdown on the country’s chip sector. But there are always loopholes, and new reports now reveal how Chinese traders are circumventing the ban by re-routing U.S. shipments through third countries. According to U.S. customs data, the U.S. imported 3,834 metric tons of antimony from Mexico and Thailand in the first four months following…
Brazil has become the latest target of U.S. President Donald Trump’s ire after the Republican frontrunner threatened 50% tariffs on the South American giant for allegedly persecuting right-wing ex-president Jair Bolsonaro. In a post on Truth Social, Trump called on Brazilian President Luiz Inácio Lula da Silva to halt what he described as a “Witch Hunt that should end IMMEDIATELY!” Bolsonaro is currently on trial for allegedly attempting to overturn the results of the 2022 election. Tensions have escalated. Lula has promised…
Via Metal Miner German flats producer ThyssenKrupp Steel recently commissioned a modernized strip mill at its main site in Duisburg as well as new upstream equipment. On July 4, the steel industry titan released a statement detailing that the modernized hot rolled strip mill will be able to roll 3.1 million metric tons of hot rolled coil in widths of 900-1,600mm and in 1.2-9mm gauges. “The new units are located at the interface between upstream operations and hot strip production, making them a core feature of the integrated production network…
Artificial intelligence is rapidly changing the world around us as our systems get smarter, and the resource and energy use of large language models grow ever larger. In the energy sector, artificial intelligence represents a double-edged sword: AI could help the sector overcome some of the hurdles involved in maintaining global energy security while we transition to cleaner alternatives, but it could also pose an existential threat to vulnerable power grids if used indiscriminately. Artificial intelligence requires a staggering amount of energy…
Taiwan is facing an energy crisis that could prove existential. Not only is the country’s energy demand outpacing its grid’s capacities, the country is heavily dependent on energy imports, making the island nation highly vulnerable to military blockades from neighboring China. If Taiwan is not able to build up its own energy supply in a hurry, it will become increasingly difficult – if not impossible – to continue resistance against the Chinese agenda to annex the island under its One China policy. Taiwan’s isolated…
Investors who have shorted Tesla stock are about to pocket $1.4 billion in profits as the beleaguered company continues its rapid downward spiral. A potent combination of tariffs, anti-clean energy legislation, and stunningly bad PR have led to devastating drops in the company’s share values, with reverberating consequences for the company’s many ventures, not to mention clean energy tech research and development writ large. Tesla has been failing to meet its forecasts for a while now, even with projections much reduced to reflect the…
