(Investing) – PARIS – U.S. Energy Secretary Chris Wright gave the International Energy Agency on Thursday a one-year deadline to scrap its support of goals to reduce energy emissions to net zero or risk losing the United States as a member. European countries played down the threat at the agency’s biennial meeting and restated their commitment to pursuing cleaner fuel. In
(Investing) – A federal judge declared unconstitutional a 2021 Texas law restricting state investments in companies seeking to rely less on fossil fuels or boycott that industry. In a decision made public on Wednesday, U.S. District Judge Alan Albright said the law violated First Amendment free speech protections because it punished businesses for speaking about fossil fuels and associating with organizations that
(Oil price)– The COP30 climate summit is ditching an earlier draft of a roadmap to transition away from fossil fuels, according to the latest draft of negotiating texts at the global gathering in Belem, Brazil. Many countries at COP30 have mobilized and supported a so-called “roadmap” to transition away from fossil fuels. But the latest draft document of the summit has
(Oil Price) – Republican lawmakers on Monday moved to declare Coal Week, amplifying the Trump administration’s push to expand U.S. coal output and keep aging plants online, the Washington Times reported. The resolution coincides with new executive actions to “reinvigorate” coal, including directives signed in April to boost production and preserve baseload capacity, as outlined in a White House executive order. The message to
(Oil Price)– Power generation from clean energy rose globally in the first half of the year, led by the renewables champion China, while power output from fossil fuels remained flat from a year earlier, due to rising gas and coal use in Europe and surging coal generation in the United States. China’s clean energy generation jumped by 14% to a
(EIA) – In 2024, the United States consumed about 94 quadrillion British thermal units (quads) of energy, a 1% increase from 2023, according to our Monthly Energy Review. Fossil fuels—petroleum, natural gas, and coal—accounted for 82% of total U.S. energy consumption in 2024. Nonfossil fuel energy—from renewables and nuclear energy—accounted for the other 18%. Petroleum remained the most-consumed fuel in the
(World Oil) – (Bloomberg) – The U.S. may depart the International Energy Agency without changes to forecasting that Republicans have criticized as unrealistically green, President Donald Trump’s energy chief said. “We will do one of two things: we will reform the way the IEA operates or we will withdraw,” Energy Secretary Chris Wright said during an interview Tuesday. “My strong
(Investing) – WASHINGTON -U.S. Senate committees on Thursday approved President Donald Trump’s choices to run energy and environmental policy – officials who, if backed by the full Senate, will seek to maximize fossil fuel output and scrap chunks of climate policy. The panel voted 18-2 to approve former North Dakota governor Doug Burgum to lead the U.S. Department of Interior
(Oil & Gas 360) – The ever-changing global energy markets were given a comprehensive assessment by the International Energy Agency in its World Energy Outlook 2024 released earlier this October. The agency’s Energy Transition assessment highlights capacity additions of renewals of over 560 gigawatts added in 2023. Capacity refers to a source running at full efficiency; actual electron delivery from
(Oil & Gas 360) – Since it’s the season for handicapping everything from fantasy football to electoral outcomes, Oil & Gas 360 offers some picks and perspectives if you’re in a peak oil prediction pool. Earlier fossil fuel forecasters were humbled (one would think so, anyway) for utterly underestimating the resource size, ingenuity, and appetite for risk that proved them
Oil Price Donald Trump has pledged to ramp up U.S. domestic oil production and undo some regulations to make that happen, the Republican presidential candidate told Bloomberg Businessweek in an exclusive interview published on Wednesday. The interview with the former U.S. president took place at Mar-a-Lago in late June, two days before the first presidential debate and two weeks prior to the
Nasdaq DUBAI – A draft of a potential climate deal at the COP28 summit on Monday offered various options to reduce greenhouse gas emissions, but stopped short of the full “phase out” of fossil fuels many nations have demanded. U.N. Secretary General Antonio Guterres said a central benchmark of success for COP28 would be whether it yields a deal to reduce coal,
