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☆ 'Iran is in for the long haul' with oil tanker hijacks, expert says, as U.S. considers more sanctions
▼ + stars: | 2024-04-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Before this weekend's tanker seizure, the last vessel Iran hijacked was the St. Nikolas on January 1. A Planet Labs satellite image of the location of the MSC Aries and other tankers recently hijacked by Iran. Planet Labs PBCAs the U.S. considers more sanctions against Iran in response to its recent attack on Israel, Iran has been using the hijacked ships as a means of sanctions retaliation. Iran chose to do this as a way to compensate for sanctions," Madani said. In a note to clients, ClearView highlighted that the House of Representatives added several Iran sanctions bills to its calendar for consideration this week, under suspension rules, including new sanctions on Iranian oil exports to China.

Persons: Nikolas, Houthis, Samir Madani, Eyal Ofer's, Madani, Janet Yellen, Helima Croft, Andy Lipow, Brent, Lipow, Kevin Book, Book Organizations: Anadolu, Getty, MSC Aries, U.S . Naval Forces Central Command, Galaxy Leader, MSC, Planet Labs, U.S . Energy Information Agency, United Arab, JPMorgan, CNBC, Lipow Oil Associates, ClearView Energy Partners, US, UN Locations: Gulf of Oman, Hormuz, Anadolu, Iran, Israel, Gaza, U.S, Iranian, Khuran, China, Russia, Malaysia, United Arab Emirates, Oman, Strait, Tehran, East, North Africa, India, Saudi Arabia, Kuwait, Iraq, France, Germany

☆ Crypto and AI data centers are driving up energy consumption forecast: ClearView Energy’s Tim Fox
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto and AI data centers are driving up energy consumption forecast: ClearView Energy’s Tim FoxTimothy Fox, ClearView Energy Partners managing director, joins 'Squawk Box' to discuss the impact of crypto mining and AI surge on the U.S. energy grid, what it means for the power sector at large, and more.

Persons: Tim Fox Timothy Fox Organizations: ClearView Energy Partners

Former President Donald J. Trump, the front-runner for the Republican nomination, has repeatedly attacked central elements of the Inflation Reduction Act, including tax credits for purchasing electric vehicles. “Otherwise it’s all going to be on the chopping block.”The Inflation Reduction Act contains various tax credits and other subsidies to incentivize companies to deploy more clean energy projects. It also includes tax breaks for consumers to offset the cost of electric vehicles, heat pumps and other energy-efficient appliances. That could cut the number of eligible vehicles, potentially hindering progress toward the Biden administration’s goal of having electric vehicles make up half of new car sales by 2030. The estimated cost of the Inflation Reduction Act’s energy incentives has effectively doubled since it passed, largely because forecasters believe the legislation will be more popular than they originally expected.

Persons: Biden, Donald J, Trump, “ We’ve, Frank Pallone Jr, Thomas Pyle, ’, Pyle, Kevin Book, Sean Rayford, ” Mr, John Ketchum, Ketchum, “ It’s, Mr, Sasha Mackler, David Carroll, we’ve, Carroll, T.J . Kirkpatrick, ” Michael Kikukawa, Lori Esposito Murray, Ms, Murray, Jeanna Smialek Organizations: Republican, Democratic, Company, Biden, House Energy, Commerce, American Energy Alliance, ClearView Energy Partners, The New York Times, NextEra Energy, Republicans, Center, Engie, White, Economic Development, Conference Board, “ Locations: States, China, New Hampshire, America, Indiana, Texas, Irvine , Calif

☆ How the U.S. Became the World’s Biggest Gas Supplier
▼ + stars: | 2024-02-03 | by ( Brad Plumer | Nadja Popovich | ) www.nytimes.com time to read: +8 min

Became the World’s Biggest Gas SupplierTop exporters of liquefied natural gas 12 billion cubic feet per day U.S. Qatar 10 Australia 8 6 Russia 4 Malaysia 2 2014 2023 12 billion cubic feet per day United States Qatar Australia 10 8 6 Russia 4 Malaysia 2 2014 2023 Source: S&P Global Note: Data reflects annual average liquefied natural gas exports by country. But climate activists worry that soaring exports of liquefied natural gas could make global warming worse. In the early 2000s, natural gas was relatively scarce at home, and companies were spending billions of dollars to build terminals to import gas from places like Qatar and Australia. In the mid-2000s, U.S. drillers perfected methods to unlock vast reserves of cheap natural gas from shale rock. The process of making and shipping liquefied natural gas adds complexity and cost, but if the difference between U.S. natural gas prices and overseas prices is big enough, it is profitable.

Persons: Biden, Fracking, ”, Kenneth Medlock, —, Ben Cahill Organizations: U.S, drillers, Cheniere Energy, Center for Energy Studies, Rice University, “, Asia, Department of Energy, Energy Department, . Energy, Energy Information Administration, Clearview Energy Partners, Center for Strategic, International Studies Locations: U.S, Qatar, Australia, Russia, Malaysia, United States Qatar Australia, United States, Japan, Europe, Asia, Ukraine, China, India, Pakistan, Bangladesh, Vietnam, Texas , Louisiana, Maryland, Georgia, Mexico

WASHINGTON (AP) — A project to build a first-of-a-kind small modular nuclear reactor power plant was terminated Wednesday, another blow to the Biden administration's clean energy agenda following cancellations last week of two major offshore wind projects. Oregon-based NuScale Power has the only small modular nuclear reactor design certified for use in the United States. “We absolutely need advanced nuclear energy technology to meet (the Biden administration’s) ambitious clean energy goals,'' spokeswoman Charisma Troiano said. In 2020, the Trump administration approved up to $1.4 billion for the project, known as the Carbon Free Power Project. Most prospective subscribers were unwilling to take on the risks associated with developing a first-of-a-kind nuclear project, the Utah group said.

Persons: Joe Biden's, Biden, Charisma Troiano, “, Timothy Fox, Fox, Trump, Obama, John Hopkins, NuScale, Ken Cook, ” Cook, ___ McDermott Organizations: WASHINGTON, Biden, Idaho National Laboratory, Energy Department, DOE, ClearView Energy Partners, The Energy Department, Energy Department's, Energy Department's Idaho National Laboratory, Carbon, Power, Congress, Utah Associated Municipal Power Systems, Nuclear Energy Institute, Environmental, U.S . Nuclear Regulatory Commission, AP Locations: Oregon, United States, Utah, Idaho, New Jersey, U.S, Washington, Idaho Falls , Idaho, Energy Department's Idaho, California, Providence , Rhode Island

In total, the cancellations equate to nearly one-fifth of President Joe Biden’s goal of 30 gigawatts of offshore wind power by 2030. Despite the setbacks, offshore wind continues to move forward, the White House said, citing recent investments by New York state and approval by the Interior Department of the nation’s largest planned offshore wind farm in Virginia. Hardy spoke at the American Clean Power industry group’s offshore wind conference in Boston last month on a panel with Morris. Phil Murphy, has established increasingly stringent clean energy goals, moving from 100% clean energy by 2050 to 100% by 2035. “Offshore wind is a lot bigger than Ørsted.”The first U.S. commercial-scale offshore wind farms are currently under construction: Vineyard Wind off Massachusetts and South Fork Wind off Rhode Island and New York.

Persons: jeopardizing, Ørsted, Joe Biden’s, Biden, Timothy Fox, “, Molly Morris, David Hardy, Hardy, Morris, “ We’re, ”, Walt Musial, Musial, Conor Bambrick, Phil Murphy, Murphy, Catherine Klinger, Catherine Bowes, ″ Bowes, Michael Brown, ” ___ McDermott Organizations: WASHINGTON, Biden, Interior Department, Interior’s Bureau of Ocean Energy Management, Industry, ClearView Energy Partners, Ørsted, American Clean, National Renewable Energy Laboratory, Energy Department, P, Environmental, ., Democratic Gov, New, U.S, Offshore, Ocean, ___, AP Locations: New Jersey, U.S, Danish, New England, Massachusetts, Connecticut, New York, Virginia, Interior’s, Gulf of Mexico, East Coast, Washington, Norwegian, Jersey, United States, Boston, Europe, Virginia Beach, Rhode Island, . New Jersey, Rhode, North America, Providence , Rhode Island, Hill, Albany , New York, Catalini, Trenton , New Jersey

The world's biggest offshore wind farm company on Tuesday said it would cease all development on the Ocean Wind projects even as it moves forward with developments off neighboring New York, triggering an angry response from New Jersey Governor Phil Murphy. "People did not anticipate (Orsted) backing out of Ocean Wind," said Timothy Fox, VP at research firm ClearView Energy Partners. Nipper told analysts that unlike Ocean Wind, Orsted is still pursuing Sunrise for several reasons, including the fact that the company has already lined up a vessel to build it. Under the most accelerated proposal, the New York State Energy Research & Development Authority said it could release the next offshore wind request for proposals in late November or early December. The Ocean Wind cancellation was the latest setback for the nascent U.S. offshore wind industry in recent months, which U.S. President Joe Biden and several states have counted on to fight global warming.

Persons: Phil Murphy, Timothy Fox, Mads Nipper, Nipper, Orsted, Joe Biden, Murphy, Scott DiSavino, Jarrett Renshaw, Nichola Groom, Bill Berkrot Organizations: ClearView Energy Partners, Sunrise, New York State Energy Research, Development Authority, Analysts, BP, U.S, Thomson Locations: New Jersey, New York, U.S, Massachusetts, Connecticut, Culver City , California

☆ Israel-Hamas conflict enters 3rd day: Here's how it impacts the energy prices
▼ + stars: | 2023-10-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIsrael-Hamas conflict enters 3rd day: Here's how it impacts the energy pricesKevin Book, Clearview Energy Partners managing director of research, joins 'Power Lunch' to discuss Israel's oil capacity amid the war, Saudi Arabia's cuts in the oil market, and more.

Organizations: Israel, Clearview Energy Partners Locations: Saudi

The Liberian-flagged oil tanker Ice Energy transfers crude oil from the Iranian-flagged oil tanker Lana (former Pegas), off the shore of Karystos, on the Island of Evia, Greece, May 26, 2022. The United States has sought to limit Iran's oil exports since Donald Trump exited a 2015 nuclear accord in 2018 and re-imposed sanctions aimed at curbing revenues to Iran's government. SVB International, a consultant, estimates Iran's oil production increased in August to 3.15 million barrels per day (bpd), the highest since 2018, with crude oil and condensate exports at just under 2 million bpd. Kpler, a provider of flows data, expects August crude exports to average about 1.2 million bpd, down from a 2018 high of 1.54 million bpd reached in May. Iran's oil minister was quoted by state media as saying crude output will reach 3.4 million bpd by the end of September.

Persons: Costas Baltas, Donald Trump, Joe Biden's, Sara Vakhshouri, Jake Sullivan, Biden, Kevin, Ben Cahill, Vakhshouri, Alex Lawyer, Timothy Gardner, Andy Sullivan Organizations: Liberian, Ice Energy, REUTERS, Analysts, United, SVB, Reuters, White, National, ClearView Energy Partners, U.S . State Department, Treasury Department, Center for Strategic, International Studies, Organization of, Petroleum, Tanker, Thomson Locations: Karystos, Evia, Greece, WASHINGTON, Tehran, China, United States, Iran, South Korea, U.S, Syria, Venezuela, OPEC, Russia, London, Washington

☆ Premarket stocks: What the OPEC cuts mean for Putin and Russia
▼ + stars: | 2023-04-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

OPEC+ was formed in 2016 to coordinate and regulate oil production and stabilize global oil prices. What it means for Putin: OPEC+’s decision to cut oil production could have big implications for Russia. After Russia invaded Ukraine last year, the United States and United Kingdom immediately stopped purchasing oil from the country. Higher-priced oil could help Russia pay for its war on Ukraine and also boosts revenue in Saudi Arabia. Current regulations, Dimon argued, could actually lull banks into complacency without actually addressing real system-wide banking issues.

Big gas producers including Chesapeake Energy Corp (CHK.O) and Comstock Resources Inc (CRK.N) are reducing their drilling. "About a third of U.S. gas production is associated gas - produced from oil wells," said Jacques Rousseau, a managing director at research firm ClearView Energy Partners LLC. Gas from the Permian also has climbed to record highs every month this year. PRODUCTION REMAINS STICKYU.S. gas production remains on track to hit 100.67 billion cubic feet per day (bcfd) this year, up from last year's record 98.09 bcfd, according to the U.S. government. Despite low gas prices, U.S. drillers have 160 rigs seeking gas up 16% from a year ago, according to data from Baker Hughes Co (BKR.O).

WASHINGTON, March 27 (Reuters) - U.S. President Joe Biden would veto a Republican energy legislation package if it were to pass Congress, citing cost increases that the legislation could lead to, the White House said on Monday. 1 (Lower Energy Costs Act) would double the cost of energy efficiency upgrades that families need to reduce household bills and would repeal the Greenhouse Gas Reduction Fund that will cut energy costs and boost economic development in rural and urban communities across the country," the White House said. Republicans plan to bring the legislation to the floor of the House of Representatives, where they hold a slim majority, for a vote this week, Representative Elise Stefanik, who chairs the House Republican Conference, said on Monday. Senate Majority Leader Chuck Schumer has said the House bill is "dead on arrival" in the Senate. But many senators want more moderate permitting legislation to expand the electricity transmission system and rapid build out of renewable power.

☆ Analysis: U.S. House Republicans favor message over substance in early legislation
▼ + stars: | 2023-01-13 | by ( David Morgan | ) www.reuters.com time to read: +6 min

Senator Joni Ernst (R-IA) speaks during a news conference following Senate Republican leadership elections that included the re-election of U.S. The bills are meant to provide a political benefit, as Republicans seek to fulfill 2022 campaign promises and formulate plans to capture the Senate and White House in 2024. "You'll watch it week after week after week." "The real purpose for the House Republican conference is to hold down spending and try to limit the debt," said Republican strategist Charles Black. 2 House Republican Steve Scalise said would target people earning less than $400,000 and break Biden's promise not to raise taxes on that income group.

☆ Clearview's Kevin Book weighs in on the 2023 energy outlook
▼ + stars: | 2023-01-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailClearview's Kevin Book weighs in on the 2023 energy outlookKevin Book, Clearview Energy Partners managing director, joins 'The Exchange' to discuss price risks to the energy stocks and his outlook on the sector.

☆ Fed policy continues to concern oil markets
▼ + stars: | 2022-12-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed policy continues to concern oil marketsFrancisco Blanch, head of global commodity and derivative research for Bank of America securities, and Kevin Book, managing director at Clearview Energy Partners, join 'Power Lunch' to discuss global supply and demand of oil, impacts of the European Union's price cap, and key takeaways from the latest OPEC meeting.

After oil prices soared following Russia's invasion of Ukraine, European governments already have imposed windfall taxes on their oil industries. But most U.S. lawmakers show little appetite to reverse that trend after oil companies like Exxon Mobil Corp and Chevron Corp <CVX.N. Senator Sheldon Whitehouse and Representative Ro Khanna, both Democrats, are among legislators who have already introduced bills to tax excess oil company profits. Democratic Senators Kyrsten Sinema from Arizona and Joe Manchin from West Virginia would likely oppose a windfall profits tax, dimming its prospects, congressional sources and research groups said. Administration officials conceded privately that it may be difficult to enact a federal windfall profits tax, and said no deadline has been set for a next step.

☆ Wave of LNG tankers is overwhelming Europe in energy crisis and hitting natural gas prices
▼ + stars: | 2022-10-24 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

Two LNG vessels that came from the U.S. are underway to Spain's Huelva port. The underlying infrastructure issue is a lack of European regasification capacity due to a shortage of regasification plants and pipelines connecting countries that have regasification facilities. As a result, the amount of LNG on the water — floating storage — increases and in turn drives down the price of natural gas . Energy experts tell CNBC they are keeping an eye on an EU LNG price cap. Russia, which supplies a large portion of natural gas to Europe, cut gas supplies as a response to sanctions after the country's war with Ukraine.

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