News
Tony Blair’s think tank has called for the government to ditch its 2030 clean power target as it urged the Labour government to focus on making electricity cheaper in order to persuade Brits to use it over gas. In a report published by the Tony Blair Institute (TBI), researchers called for the government to “solve” problems including the decline of North Sea oil production, which had made the UK less secure. It is the latest indication that Blair has split from Keir Starmer’s government on key issues after the…
Annual conventional discovered volumes once averaged more than 20 billion barrels of oil equivalent (boe) per year in the early 2010s, but these have fallen to nearly one-third of that, with analysis by Rystad Energy showing global discoveries have averaged slightly over 8 billion boe annually since 2020 despite several standout frontier finds in Namibia, Suriname, and Guyana. Despairingly, the yearly average declines further to about 5.5 billion boe between 2023 and September this year. The contraction reflects a strategic change where the global…
Two drastically different trends in energy careers are taking place on either side of the Atlantic Ocean. While the Trump administration pulls back billions of dollars in clean energy funding and seeks to prop up coal careers, the United Kingdom is rolling out a plan to add 400,000 clean energy jobs to the national economy. Just this week Edward Miliband, the Secretary of State for Energy and Climate Change of the United Kingdom, announced a national plan to train hundreds of thousands of plumbers, electricians, carpenters, welders, HVAC installers,…
A study by X-energy Canada has confirmed the feasibility and benefits of repurposing an existing thermal generation site in Alberta with X-energy's small modular reactors, World Nuclear News reports. Funded by Emissions Reduction Alberta (ERA), the study found that the Xe-100 high-temperature gas-cooled reactor is uniquely suited to Alberta's energy needs. As well as producing electricity, it is specifically designed to provide 565°C heat and steam for industrial applications, unlocking a broad range of use cases for Alberta's industrial…
The fight over Venezuela’s last major foreign asset just got nastier. Lawyers for Citgo Petroleum and its owner, PDV Holding, told a Delaware court this week that Elliott Management’s affiliate Amber Energy shouldn’t even be in the running for Citgo’s parent company—calling its bid “so low it shocks the conscience.” What began nearly six years ago as a straightforward plan to settle old creditor claims has turned into something else entirely — a slugfest over conflicts of interest, political meddling,…
