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Russia Confounds the West by Recapturing Its Oil Riches
Russia pumps almost as much oil into the global market as it did before its invasion of Ukraine. With oil prices up, Moscow is also making more money. Demand from some of the world’s largest economies has given Russian President Vladimir Putin the upper hand in the energy battle that shadows the war in Ukraine, and has confounded the West’s bid to cripple Russia’s economy with sanctions. [ read more … ]
Wind Energy
Cape Cod Offshore Wind Moves Ahead — Despite Controversy
Fierce opponents of Cape Cod offshore wind have held their ground over decades. But, remarkably, the project is now underway for a 35-mile offshore transmission cable serving Vineyard Wind. The 62 turbine project planned in federal waters south of Martha’s Vineyard will connect with Cape Cod’s center south shore in Barnstable. What changed? [ read more … ]
Inflation Reduction Act incentives offer hope of reopening Iowa wind turbine blade plant
The Inflation Reduction Act, signed into bill into law this month by President Joe Biden, includes long-term renewal of tax credits that encourage renewable energy adoption and offers richer incentives for companies that use wind, solar and other renewable energy production components made in the U.S. That could be good news for TPI Composites, an Arizona company that closed its Newton turbine blade manufacturing plant at the end of last year, laying off 710 workers. Another beneficiary could be Arcosa Inc., a Texas company that makes wind turbine towers in Newton. [ read more … ]
New wind additions plummet in Q2, declining 77% from a year ago: S&P
New additions of U.S. wind capacity reached just 945 MW in the second quarter, falling 77% from the more than 4 GW that was installed during the same period last year, according to new data from S&P Gobal Market Intelligence. The second quarter capacity additions were also 66% below Q1 2022 figures, when wind developers added 2,786 MW of wind power capacity, according to the data. [ read more … ]
States
Tailpipe Emissions Are Notoriously Hard to Cut. California’s New Gas Car Ban Will Help
The new rule, which is the first of its kind in the United States and is the strictest among just a handful of similar bans around the world, will be implemented in phases. It requires 35 percent of the available passenger vehicle models offered by auto retailers in the state to be electric or hydrogen gas-powered by 2026, with that proportion increasing to 51 percent by 2028, 68 percent by 2030 and ultimately to 100 percent by 2035. The plan also outlines a goal of having all medium- and heavy-duty vehicles be zero-emission by 2045. [ read more … ]
California sets sights on zero-emission vehicle future to chagrin of oil, biofuel groups
Oil refiners and ethanol producers expressed support Aug. 26 for achieving carbon neutrality in the transportation sector but argued that California’s push to eliminate gasoline- and diesel-fueled vehicle sales by 2035 was misguided. “This is a deeply flawed plan that will eliminate consumer choice, limit innovation and jeopardize progress towards our shared climate goals,” the American Petroleum Institute said in a statement. The group lashed out against “prescriptive mandates” and said that “meaningful progress is best achieved through policies that promote marketplace flexibility, are technology-neutral and respectful of consumer choice.” [ read more … ]
Climate
Climate Change Measures Are a Lot More Popular Than Americans Think
Some farmers said they preferred a government policy to deal with change. Others said they’d alter their production techniques to accommodate new conditions, and a third group saw ways to adapt financially. None considered that climate change might call for sustained, multiple responses. In fact, identifying a risk-reduction technique they liked seemed to eclipse their awareness of other options. [ read more … ]
China’s Record Drought Is Drying Rivers and Feeding Its Coal Habit
Car assembly plants and electronics factories in southwestern China have closed for lack of power. Owners of electric cars are waiting overnight at charging stations to recharge their vehicles. Rivers are so low there that ships can no longer carry supplies. A record-setting drought and an 11-week heat wave are causing broad disruption in a region that depends on dams for more than three-quarters of its electricity generation. The factory shutdowns and logistical delays are hindering China’s efforts to revive its economy as the country’s leader, Xi Jinping, prepares to claim a third term in power this autumn. [ read more … ]
Elon Musk Says World Needs More Oil and Gas as Bridge to Renewables
The world needs more oil and gas now to deal with an energy shortage while pushing to transition to renewable supplies, Tesla Inc. Chief Executive Officer Elon Musk said. “At this time, we actually need more oil and gas, not less,” Musk said Monday during an energy conference in Norway, adding that he’s not someone to “demonize” the fossil fuels. At the same time, “we must have a clear path to a sustainable energy future.” [ read more … ]
Markets
U.S. energy secretary urges refiners not to increase fuel exports
The U.S. Energy Secretary urged domestic oil refiners this month to not further increase exports of fuels like gasoline and diesel, adding that the Biden administration may need to consider taking action if the plants do not build inventories. U.S. refiners have boosted oil product exports this month as domestic crude oil production rose and global fuel demand continued to recover. [ read more … ]
Note: News clips provided do not necessarily reflect the views of coalition or its member governors.