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A widespread myth in energy circles is that U.S. refineries are “unable” to process the light, sweet crude produced by the shale boom. The claim tends to surface whenever gasoline prices rise or energy independence becomes a talking point. The argument is usually that the U.S. is producing record volumes of oil, yet still imports crude because its refineries were built for heavier foreign barrels. It’s a compelling narrative, but it’s mostly wrong. U.S. refineries can and do process shale crude every day. The issue isn’t…
No country was more prepared for the war in Iran than China. As the rest of Asia reels from oil and gas shortages due to the Iran War, Beijing is sitting pretty thanks to its vast stores of crude oil and its enormous clean energy infrastructure. China has been building up its domestic clean energy sector faster than any other country on Earth at the same time that it has been stockpiling massive amounts of surplus oil and gas, all in anticipation of a major geopolitical disruption just like the one we’re seeing now. As a result, China is…
The Strait of Hormuz has been closed for business for well over a month now. The effective blockage of the waterway that typically hosts the passage of at least one-fifth of the world’s oil and gas resources on the average day has sent global energy markets into a tailspin. The resounding impacts of this disruption – which is now larger than those in the 1973 and 1979 oil crises combined – are just beginning. The question is how the world will choose to deal with the fallout – will we retreat into well-worn fossil fuel supply…
For years, one argument has dominated the debate around renewables: they are intermittent, and therefore require large-scale, dispatchable backup—usually in the form of gas-fired power plants. It is a compelling argument. It is also becoming increasingly outdated. Because while much of the discussion still treats batteries as a marginal technology, real-world systems are starting to show something very different. Storage is not just filling small gaps. It is beginning to replace the role traditionally played by large, flexible fossil generation.…
India’s economy will grow by lower rates over the next year than initially expected as the energy supply shock from the Middle East is hitting supply and manufacturing and raising prices for industry and consumers, analysts say. The war in the Middle East and the de facto closed Strait of Hormuz have crippled oil, LNG, and LPG supply to India, which is the world’s third largest crude oil importer and relies on the Strait of Hormuz for 90% of its imported LPG, the liquefied petroleum gas most households use for cooking. Iran has begun…
