News
As the spread of renewable energy continues to ramp up around the world, finding more efficient and affordable technologies for energy storage has become a high-priority issue for global energy security. While energy storage addition is making huge strides across the world, leading technologies – most notably lithium-ion batteries – have some critical drawbacks. As a result, the race to find the tech breakthrough to replace lithium-ion batteries is on as “clean energy’s next trillion-dollar business” heats up. …
The machinery that powers the modern world, from industrial assembly lines to the cooling systems of data centers, is undergoing a massive, capital-intensive overhaul. According to a new analysis by Allied Market Research, the global electric motor market is projected to reach $373.9 billion by 2032, nearly tripling its 2020 valuation of $142.1 billion. The data reveals a Compound Annual Growth Rate (CAGR) of 9.5% from 2023 to 2032. But beyond the growth percentages, the report outlines a structural change in how the global economy consumes energy. …
Congress just overturned a Biden-era rule that had restricted how much of the Arctic National Wildlife Refuge’s Coastal Plain could be leased for oil and gas. The Senate passed the resolution 49-45, using the Congressional Review Act to wipe out a 2024 Interior Department plan that kept large sections of the 1.56-million-acre area off-limits. Federal leasing will now revert to the broader 2020 Trump-era framework that opened essentially the entire Coastal Plain to development. For Alaska’s delegation and regional Native corporations,…
Notions of renewable energy and reducing greenhouse gases are nice, but costly energy prices are forcing a shift in Europe’s priorities. Reuters reported this week that two members of the European Union — Greece and Italy — and the UK are loosening their opposition to new oil and gas drilling, even as the continent builds out renewables to slash greenhouse gas emissions and meet climate targets. Greece in November issued its first offshore oil and gas exploration license in more than 40 years to a trio of companies including Exxon…
Saudi Arabia has launched production at the giant Jafurah natural gas field, the largest non-associated gas development in the Kingdom, which is key to the Saudi goal to significantly boost its gas processing capacity to meet rising demand. Saudi Aramco, the state oil giant, has completed the first phase of the Jafurah Gas Plant construction and launched production at the field with a capacity of 450 million cubic feet per day, the Saudi Finance Ministry said in the 2026 Budget announcement. Sustainable production at Jafurah is expected…
