Trending well: US is producing more oil than ever
Trending well America’s fossil fuel industry is booming. Indeed, while clean energy policies (or, perhaps, a lack thereof) are debated ahead of November’s election, one quiet fact has gone relatively ...
The bottom LINE: Saudi's profit machine is still producing
Pumping profits Saudi Aramco reported a 25% drop in profits yesterday, as lower oil prices filtered through to a shrunken bottom line for the state-controlled oil giant, which is 95% owned by Saudi ...
Fossil fuels: The world is "transitioning away" from the energy source
Fossilized After a few newsworthy bumps in the road , the COP28 climate conference came to a somewhat happy ending — depending on who you ask — as almost 200 countries made a landmark pledge to "tran...
Peak coal: Plotting America's coal cutback
COP28 The 28th annual UN climate meeting, held this year in Dubai, is already fueling controversy, after the host country revealed plans to expand oil production and the president of the summit made ...
Roll out the barrels: US oil production is reaching new heights
Barrels beyond belief The US is producing more oil than ever before. That’s according to the latest data from the Energy Information Administration , which revealed that the nation’s crude oil produc...
Permian pioneers: ExxonMobil is splashing the cash
Permian pioneer ExxonMobil is eyeing up a major deal, with America’s largest oil company on the brink of buying Pioneer Natural Resources, Texas' biggest crude producer, in a deal worth approximately ...
Thirsty: Microsoft's water usage was up 34% last year
Thirst bots Until someone finds a better way to contextualize large volumes of liquid, we’ll put it like this: in 2022, Microsoft consumed enough water to fill over 2,500 Olympic-sized swimming pools...
Same energy: Energy stocks are reporting weaker earnings, but the stocks are still flying high
Last week was the busiest for second-quarter earnings season , and corporate America didn’t have much good news. Indeed, companies in the S&P 500 are currently on track to report the worst operating q...
Surging: The US just got a brand new nuclear reactor
Reacting Plant Vogtle Unit 3, America’s first nuclear reactor built entirely from scratch in more than 30 years, is now online and successfully sending electricity to millions of customers and the S...
Electricians: Demand for electrical experts is surging
Surging The job market for electricians is booming. Driven by a seismic shift to electrify-everything, the Bureau of Labor Statistics predicts that 80,000 new electrician jobs will be created annuall...
Charged up: US renewables produced more electricity than coal in 2022
Charged up Electricity generated from renewable sources — wind, hydro, solar, geothermal and biomass — surpassed coal for the first time ever in the US last year, the Energy Information Administratio...
Willow windfall: A controversial Alaskan oil project has got the green light
Windfall in the Willow On Monday, Joe Biden greenlit the Willow oil drilling project — a proposal to drill at 3 sites in Alaska’s vast North Slope region. At peak production, the project is anticipat...
Aramco: The state-owned Saudi company had a record-breaking year
Yesterday, Saudi Aramco announced record profits of $161bn for 2022 , up 46% on the year prior. That's the best year on record for the oil giant, which is ~95% state-owned, and the company remains sec...
Hot air: BP is talking a lot about emissions, but scaling back its targets
A little less conversation… In recent weeks, oil giant BP has quietly scaled back its climate commitments. The original goal, a 35-40% reduction in emissions by 2030 (relative to 2019 levels), has no...
The Energy Exception & Socialites
The energy exception As alluded to in the previous story, 2022 was a tough year for the stock market. As of Dec 15th, the S&P 500 Index was down 17% this year — with 338 of its ~500 members losing gr...
Here comes the sun: Solar power is rising fast
Here comes the sun Renewables are set to become the world’s leading source of electricity generation by 2025, with solar power leading the charge, according to a new report from the International Ene...
The energy anomaly: American oil companies are thriving
America’s energy sector is thriving. On Friday, ExxonMobil and Chevron — America’s largest oil companies — reported record results . Combined the 2 companies raked in more than $30bn of profit in the...
Black gold goes green: Norway's sovereign wealth fund is getting greener
Black gold goes green This week, Norway’s sovereign wealth fund announced that it would require the companies it invests in to reach net-zero emissions by 2050. As a country with just 0.06% of the wo...
Scraping the barrels: The US oil reserve is running down
Scraping the barrels America’s crude oil stockpile has fallen below 450 million barrels, marking its lowest level since 1984, as the Biden administration continues to use the Strategic Petroleum Rese...
Here comes the sun: Where we're at on solar power
This week the Biden administration — in between discussing the technical definition of a recession — unveiled a new plan to get lower-income households hooked up to solar power. Here comes the sun T...