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The 2026 US-Israeli war against Iran delivered one of the sharpest ironies in modern energy geopolitics: while Iranian infrastructure was taking a pounding, it managed to somewhat absorb the relentless airstrikes to its culture, its way of life, and its main target—the economy. However, the already heavily punished Iranian economy took on fresh sanctions and the might of a US naval blockade. During these sanctions and the blockade, Tehran’s oil revenues rose sharply in the critical early months. The regime that Washington sought to…
Last month, we reported that Bridger Pipeline LLC has proposed a giant pipeline with a capacity in excess of 1 million barrels per day (bpd) to transport Canadian crude into the United States. Dubbed "Keystone Light" due to its similarities to the Keystone XL project that former U.S. President Joe Biden canceled in 2021, the 36-inch pipeline would span nearly 650 miles (1,050 km) from the U.S.-Canada border in Phillips County, Montana, to Guernsey, Wyoming, and cost approximately US$2 billion. And now U.S. President Donald Trump has given…
Beijing is reversing its curbs on refined fuel exports after halting shipments in the opening days of the U.S.-Iran conflict. This move suggests that Chinese domestic inventories are now at comfortable levels, allowing state refiners to reopen the export spigot, even as much of Asia remains gripped by a fuel shock caused by disrupted Gulf energy flows through the Hormuz chokepoint. There was chatter earlier this week that China's state-owned refiners were applying for government permits to resume fuel exports in May. These include…
The AI boom has unleashed an energy monster unlike anything the world has ever seen before. No one is exactly sure how much energy the AI sector will require in the coming years as large language models continue to advance and expand. In fact, we don’t even really know how much energy it’s consuming now. But most experts agree that we can expect a sharp and continuing rise in demand from the data centers that power the tech sector in the coming years as the global economy increasingly integrates AI into virtually every market sector…
A couple of days ago, the United Arab Emirates announced that it will formally leave OPEC on May 1, with the Middle East oil giant becoming the latest country to cut ties with the organization in recent years. The UAE is among the world’s leading oil producers and OPEC’s third-largest, trailing only Saudi Arabia and Iraq. The UAE is ostensibly leaving the cartel, driven by a desire to capitalize on oil assets before the peak transition to renewable energy, with the country looking to bypass OPEC production constraints and boost oil…
