U.S. Shale Bankruptcies Accelerate Despite Pandemic Protection The U.S. oil industry is trying to recover from the worst demand shock in the history of oil markets. Some companies launched the long-awaited consolidation in the sector, while many others filed for bankruptcy as unsustainably low oil prices this year weighed on already weakened balance sheets. The...
Enbridge Sues To Stop Michigan From Shutting Down Pipeline Enbridge filed on Tuesday a federal complaint at a U.S. district court seeking an injunction to stop Michigan’s order for closure of the Line 5 pipeline, arguing that the state’s shutdown order violates U.S. federal law and the Constitution. The Canada-based pipeline operator and developer filed...
Britain’s Richest Man Plans To Make Hydrogen Cars Mainstream Hydrogen has been touted for decades as the future of mobility. In fact, there was a time when hydrogen was presumed to be “the fuel of the future,” while EVs were expected to remain confined to a niche of small, short-range urban cars. Yet, it’s battery-electric...
Coal Miners Are Turning Their Backs On Trump Support from coal miners helped Donald Trump win the US presidency four years ago. Now, the leader of the nation’s top mining union is calling on Trump to “move on”, adding that ongoing efforts to challenge vote counts and pressure state elections officials are a “threat to...
A Worrying Bottleneck For Offshore Wind Energy Offshore wind is booming, and as turbine and project sizes grow, demand for specialized installation vessels will soar. The market for vessels capable of installing large offshore wind components is quickly being outpaced by growing demand from the global development pipeline, a Rystad Energy analysis shows. The global...
Tourism Industry Set To Recover Sooner Than Expected On November 9 US pharmaceutical giant Pfizer and German biotechnology company BioNTech announced that a jointly developed vaccine candidate was effective at preventing more than 90% of test subjects from contracting Covid-19, according to results from the third stage of testing. Two weeks later, additional testing suggested...
Big Oil And Big Tech Are Spending Billions On Renewable Energy Given the option, most Americans would not only prefer to choose their own utility companies but also have more of the energy that powers their homes coming from clean energy sources. That’s according to a Consumer Report survey where 81% of respondents agreed that...
Bitcoin Miners Are Starving Entire Cities Of Electricity SUKHUMI — In the side streets and narrow alleys of Abkhazia’s main city, a low growl and an oily stench are commonplace. Thrumming diesel generators provide power amid rolling blackouts that have infuriated residents and evoked memories of the post-war chaos nearly three decades ago. But what’s...
Big Banks Virtue Signaling Is Irrelevant For Arctic Oil JP Morgan. Citi. Morgan Stanley. Goldman Sachs. All of these banks have announced they will no longer finance oil and gas drilling projects in the Arctic, virtue signaling to environmental groups that have been pressing for the suspension of Arctic drilling altogether. Things recently heated up...
Israel Prepares For A Potential U.S. Military Strike On Iran With just weeks to go until President-Elect Joe Biden is inaugurated on January 20, Axios reports that Israel is preparing for the possibility that Trump will launch a preemptive attack on Iran. Axios’ Barak Ravid reports from Tel Aviv that “The Israel Defense Forces have...