As the clean energy transition picks up pace around the world, more and more land is needed to accommodate utility-scale solar and wind farms. Solar and wind farms need land that is both well-suited to their climatic and geographic needs and large enough to make the project worthwhile. Unfortunately, these types of land are also frequently among those most suitable for agriculture, creating policy and economic tensions between food security and energy security.  Utility-scale solar and wind farms require a whopping 10 times as much land as…

As companies worldwide race to increase their green hydrogen production capacity to power heavy industry and transport in support of a green transition, others are looking to naturally occurring hydrogen, also known as white, gold or geologic hydrogen, as the solution. Since the energy source was discovered in Mali in 2012, interest in its development has been slow due to the lack of knowledge about how much white hydrogen there is around the globe and exactly where to find it. However, the development of several new projects, in Europe, Africa,…

Crude oil markets took a fresh hit this weekend after OPEC+ stunned traders by announcing a larger-than-expected output increase for June. In a virtual meeting on Saturday, key producers led by Saudi Arabia and Russia agreed to raise collective output by 411,000 barrels per day (bpd), nearly triple the volume originally scheduled. The move follows a similar surge announced for May and signals a sharp reversal from OPEC+ efforts to defend oil prices. Instead, Riyadh appears to be embracing a low-price strategy, aiming to discipline overproducing…

Blackouts across the Iberian Peninsula have exposed the fragility of our highly-connected infrastructure – and Britain is uniquely ill-equipped for a similar incident, says James Price In Ayn Rand’s Atlas Shrugged, society comes crashing down because the most talented people are not respected or rewarded for their endeavours, so they go on strike. Quickly, things fall apart. “He said that we had to extinguish the lights of the world, and when we would see the lights of New York go out, we would know that our job was done.”…

Forever chemicals seem to be coming up in weekly news articles around the world, as people become increasingly concerned about just how many PFAS we come into contact with on a daily basis. They are in our cooking equipment, the food we eat and, according to recent reports, even our drinking water. Until recently, little attention was given to PFAS but, under former President Biden, the U.S. imposed harsher restrictions on the use of PFAS, and, under President Trump, there has been more conversation about these forever chemicals.  PFAS (Per-…

Afghanistan's Taliban rulers were shunned by foreign governments after seizing power in 2021, but recently the hard-line militants have notched up some big wins in their diplomatic efforts to forge international ties. This week, Indian special envoy Anand Prakash was in Kabul for talks with senior Taliban leaders on boosting political and trade links. That came after Uzbek Foreign Minister Bakhtiyor Saidov hosted a Taliban delegation in Tashkent to talk about a proposed trans-Afghan rail link. And last week, in the biggest win of all, Russia removed…

President Trump’s newly released 2026 budget proposal aims to slash over $15 billion in federal support for carbon capture and renewable energy programs, signaling a sharp pivot toward fossil fuels and nuclear energy—and away from climate-focused policy. The White House plan, which proposes $163 billion in total cuts to non-defense spending, also scraps $6 billion in funding for electric vehicle (EV) chargers from the 2021 bipartisan infrastructure law. The administration blamed the lack of charger deployment on overregulation and climate…

An increasing number of "zombie" or "phantom" oil tankers—vessels that assume the identities of scrapped ships—have emerged off Venezuela's coast, allowing dark fleet operators to circumvent U.S. trade restrictions on global oil transport.  According to a Bloomberg report, one of these zombie tankers was recently spotted off the waters of Malaysia after a two-month voyage from Venezuela, raising many red flags.  The report describes how dark fleet operators transform tankers into floating zombies:   The vessel raised…

The total number of active drilling rigs for oil and gas in the United States slipped this week, according to new data that Baker Hughes published on Friday, following a 2 rig increase in each of the two weeks prior. The total rig count in the US fell by 3 to 584 rigs, according to Baker Hughes, down 21 from this same time last year. The number of oil rigs fell by 4 to 479—down by 20 compared to this time last year. The number of gas rigs rose by 2 this week, to 101 for a loss of 1 active gas rigs from this time last year. Miscellaneous rigs…

Crude oil futures tumbled over the past week, falling more than 6% as concerns over weakening global demand and a resurgent supply outlook weighed on sentiment.  Friday, May 02, 2025 China, preparing for a week-long lull in trading activity, has nevertheless given the oil markets a much-needed carrot after a month-long stick treatment, saying that Beijing is evaluating a Trump administration proposal to hold negotiations over tariffs. As US-Iran nuclear talks have seemingly hit a temporary impasse, ICE Brent is set to start May trading with…

The OPEC+ members currently participating in voluntary production cuts will meet this Saturday, May 3, instead of Monday, May 5, according to Kpler’s Amena Bakr on X. The call is set for noon Vienna time, with the agenda focused on “consensus building around maintaining the sped-up increment of 411K for June.” Brent crude had slipped nearly 1% by late Friday morning, trading at $61.56. It’s a price level not seen since early 2021—and one that puts most OPEC+ budgets underwater. For producers already grappling with…

Canadian producer Imperial Oil booked a higher net income for the first quarter than a year earlier as industry refining margins improved. Imperial Oil, majority owned by U.S. supermajor ExxonMobil, reported on Friday a net income in the first quarter of US$933 million (C$1.29 billion), up from US$860 million (C$1.19 billion) for the same period of 2024. Net income rose compared to the fourth quarter, too, thanks to improved refining margins, which allowed Imperial Oil to book higher downstream margin capture. Refining margins in North America…

European benchmark natural gas prices rose on Friday amid signals from China that it considers engaging in trade talks with the United States.  A de-escalation of the tensions drove markets higher at the end of the week as traders and analysts weigh the possibility of less disruptive trade and lower impact on the economy. Over the past month, European gas prices have slumped by 20% on warmer spring weather and higher wind and solar output, but also due to concerns that an escalating U.S.-China trade war would hit global demand for commodities,…

Numbers Report – May 02, 2025 In the latest edition of the Numbers Report, we will take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers. Let’s take a look. Asia’s Manufacturing Plunges on Trump Tariffs - In the first month of Donald Trump’s import tariffs, even if temporarily capped at 10% for most, Asian countries have seen an across-the-board contraction in manufacturing…

Politics, Geopolitics & Conflict - The fourth round of indirect nuclear negotiations between the U.S. and Iran, initially scheduled for May 3 in Rome, has been postponed. While Omani officials cited logistical reasons, Iranian authorities say the delay is due to Washington’s imposition of new sanctions targeting oil and petrochemicals during the negotiations, which Tehran has criticized as unconstructive. Things are about to get choppier with respect to these talks, as well, with Trump this week dismissing National Security Adviser Mike…

We’re seeing a fast-moving deterioration in India-Pakistan relations triggered by a high-casualty militant attack in Indian-administered Kashmir on April 22. Indian intelligence is attributing the incident to Pakistan-based elements, citing cross-border movement and recovered ID documents. Pakistan has denied any role and is calling for third-party verification.  On Tuesday, Pakistan said it had credible intel that India was planning a military strike within the next 24-36 hours (a timeframe that did not materialize by the time of writing…

Crude oil futures tumbled over the past week, falling more than 6% as concerns over weakening global demand and a resurgent supply outlook weighed on sentiment. West Texas Intermediate (WTI) briefly hit a low of $56.39 before recovering to $59.24 by Thursday’s close. While dip-buying provided short-term support, the underlying market tone remains distinctly bearish as fundamental pressures intensify. China Demand Slowdown Fuels Bearish Sentiment Fresh economic data from China delivered a major blow to oil bulls. The country's official manufacturing…

There have been reports this week that the Tesla (TSLA) board have initiated a search for a new CEO to replace Elon Musk. The company has denied them, of course, but the chaos around Tesla’s leadership is adding another element of uncertainty to an industry that is already under pressure from tariffs and the threat of a US, or maybe even a global recession. Despite the obvious and oft quoted potential of the market, therefore, investing in American EV specialist stocks right now is a risky thing to do, but Tesla’s problems may create…

Researchers around the world are competing to design and scale next generation solar panels. While current photovoltaic solar panels are generally cost-effective and efficient, the sector is always looking to advance, and find even better ways of converting sunlight into clean energy.  Solar photovoltaics are on track to be the world’s biggest source of renewable energy by 2029, overtaking hydropower. While solar deployment has risen sharply in recent years, buoyed by supportive policy measures and falling costs, solar technology will…

First-quarter earnings at ExxonMobil (NYSE: XOM) topped analyst estimates as higher production in the Permian and offshore Guyana offset part of the lower realizations due to falling oil prices.  Despite the lower earnings compared to a year ago, Exxon expressed confidence that the structural and cost-saving measures of the past few years have prepared it to weather the uncertain market environment.  Exxon reported on Friday first-quarter earnings of $7.7 billion, down from $8.2 billion in the first quarter of 2024. Earnings per share…