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Energy Supply

All articles tagged with #energy supply

Chevron CEO Mike Wirth warns Trump administration against diesel export ban amid global supply crunch
energy-and-markets2 days ago

Chevron CEO Mike Wirth warns Trump administration against diesel export ban amid global supply crunch

Chevron CEO Mike Wirth warned the Trump administration that a U.S. diesel export ban would be unwise, arguing it would remove supply from global markets and undermine confidence in American energy reliability. He noted that while recent Middle East crude exports and G7 stockpile releases have eased immediate fears, global inventories remain critically low after being drained over several months. Wirth emphasized that the energy system is now more vulnerable to disruption, particularly as the U.S.-Iran conflict continues to threaten shipping through the Strait of Hormuz. He also highlighted Chevron’s $7 billion investment plan to double oil production in Venezuela by 2031, though he acknowledged this long-term growth cannot offset current Middle East supply risks.

via CNBC|
#chevron#diesel-export-ban#energy-and-markets
Oil spike drags European equities as Middle East tensions endure
markets7 months ago

Oil spike drags European equities as Middle East tensions endure

European stock markets opened lower as fears of a prolonged energy disruption from the Middle East conflict weighed on sentiment, with Brent crude above $100 and WTI near $96 after sanctions waivers and reserves releases; Iran’s blocker of Hormuz kept supply concerns intact, while UK GDP was flat in January, Asian equities fell, and U.S. futures showed mixed moves.

via CNBC|
#brent-crude#energy-supply#european-stocks
Russia's Gazprom Halts Gas Supplies to Austria
energy-and-climate1 year ago

Russia's Gazprom Halts Gas Supplies to Austria

Austria's Chancellor Karl Nehammer assured citizens of a secure alternative fuel supply as Russia's Gazprom plans to halt gas deliveries to Austria, following a payment dispute linked to an arbitration award. Despite the cutoff, Austria, which heavily relies on Russian gas, is working to diversify its energy sources. The move is part of broader tensions over Europe's support for Ukraine, with Russia previously cutting gas supplies over payment disputes. Meanwhile, Germany's Chancellor Olaf Scholz has resumed direct communication with Russian President Vladimir Putin.

via POLITICO Europe|
#austria#energy-and-climate#energy-supply
Austria Faces Gas Cutoff as Russia Halts Supply Amid Rising Prices
energy1 year ago

Austria Faces Gas Cutoff as Russia Halts Supply Amid Rising Prices

Russia's Gazprom will cease natural gas deliveries to Austria this weekend, as announced by Austria's largest energy supplier, OMV. Despite this, Austria has secured alternative gas supplies from Germany, Italy, and the Netherlands, ensuring no disruption in energy supply. This decision follows an arbitration ruling awarding OMV €230 million in a dispute with Gazprom. Austria, heavily reliant on Russian gas, will maintain its Ukraine policy despite the halt in deliveries, with Chancellor Karl Nehammer affirming the country's energy security.

via DW (English)|
#austria#energy#energy-supply
"AI Boom and Clean Tech Strain US Power Grid Amid Record Energy Demand"
energy-technology2 years ago

"AI Boom and Clean Tech Strain US Power Grid Amid Record Energy Demand"

The surge in artificial intelligence (AI) development, clean technology manufacturing, and cryptocurrency mining is straining the U.S. energy supply, leading to increased demand for energy generation. The retirement of fossil fuel and nuclear power plants, coupled with the growing use of electric vehicles, is placing significant strain on the nation's energy infrastructure. The North American Electric Reliability Corporation (NERC) has identified potential capacity shortfalls in various regions, with the proliferation of emerging technologies like AI and cryptocurrency mining contributing to the strain. Efforts to address the energy demand include investments in nuclear fusion and data collection from crypto miners to better understand their power consumption.

via Fox Business|
#ai#clean-tech#cryptocurrency-mining
"Assessing Winter Reliability Risks in the U.S. Power Grid Amid Renewable Transition"
energy-infrastructure2 years ago

"Assessing Winter Reliability Risks in the U.S. Power Grid Amid Renewable Transition"

The vulnerability of the U.S. power grid during cold snaps was highlighted by a recent incident in New York, where high demand for heat and electricity strained the system. The reliance on natural gas for power generation, coupled with difficulties in gas supply and distribution during extreme cold, poses a significant risk to grid stability. Recommendations include winterizing the natural gas system, establishing tough reliability standards, and improving cooperation between gas companies and utilities to ensure a reliable energy supply during extreme weather events.

via NBC News|
#cold-weather#energy-infrastructure#energy-supply
"Biden's Decision to Halt LNG Terminals Sparks Political and Business Concerns"
energy-policy2 years ago

"Biden's Decision to Halt LNG Terminals Sparks Political and Business Concerns"

President Biden's administration has frozen the approval process for new LNG terminals, citing environmental concerns, despite previously promising the U.S. as a reliable supplier of natural gas to European countries. This move is seen as a political strategy to appeal to left-leaning voters concerned about environmental issues, but it raises questions about the reliability of U.S. natural gas supplies for European allies and the potential impact on energy security and climate change. The decision has sparked concerns about job losses and economic impact in states heavily involved in natural gas production and exportation.

via West Virginia MetroNews|
#biden#energy-policy#energy-supply
Pennsylvania Consumers Brace for Utility Rate Changes on December 1st
local-news2 years ago

Pennsylvania Consumers Brace for Utility Rate Changes on December 1st

Utility rates in Pittsburgh are set to change on December 1, with some rates experiencing significant shifts. While overall rates are lower than last year, consumers are encouraged to shop for the best energy prices. The Pennsylvania Public Utility Commission has provided a list of utilities and their rate changes, with some electric suppliers seeing decreases while others see increases. Gas supply rates are also fluctuating. Consumers have the option to choose their energy supplier through websites like PAPowerSwitch.com and PAGasSwitch.com. Shopping for energy can help consumers save money, especially for those with larger homes and higher energy usage.

via CBS Pittsburgh|
#energy-supply#local-news#pennsylvania-public-utility-commission
Ghana's Economic Crisis Casts Shadow of Darkness
energyeconomy2 years ago

Ghana's Economic Crisis Casts Shadow of Darkness

Ghana is experiencing widespread power blackouts due to gas shortages at a major power facility, exacerbating the country's severe economic crisis. The Ghana Grid Company (GRIDCo) reported a supply gap of 550MW at peak time, attributing it to limited gas supply. Ghana heavily relies on natural gas for power generation and has long struggled with power outages, locally known as "dumsor." Recent studies predict that the energy crisis will worsen in the coming years. The country's economic woes, including high inflation, a weakening currency, mounting debts, and low public revenues, have led to protests and calls for the removal of the central bank chair.

via CNN|
#economic-crisis#energy-supply#energyeconomy