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☆ Meet nuclear power's newest fans: data centers
▼ + stars: | 2024-05-06 | by ( Daniel Geiger | Ellen Thomas | ) www.businessinsider.com time to read: +11 min

The deal illustrates data centers' new-found interest in nuclear power. Joe Dominguez, the CEO of Constellation, the nation's largest operator of nuclear plants, said in a March earnings call that powering data centers with nuclear energy was "kind of a perfect marriage." AdvertisementVistra, another nuclear owner, also indicated it was arranging data center deals for a nuclear plant it owns in Ohio and one in Texas. Greg Poulos, the executive director of a PJM watchdog group, said that "one of my highest priority, highest radar items" is how data centers could push costs onto consumers and also whether nuclear data centers deals could reduce grid reliability. Beyond the nuclear optionNot all data centers, of course, are seeking out nuclear power to seize their energy independence.

Persons: —, Wes Swenson, Swenson, Joe Dominguez, Jim Burke, Ralph La Rossa, La Rossa, Steve Helber, Burke, Dominguez, PJM, Michael Jacobs, Brian Janous, Greg Poulos, Poulos, Biden Organizations: Service, Susquehanna, Amazon, Business, US Energy Information Administration, Nuclear, Constellation, Public Service Enterprise Group, Microsoft, International Energy Agency, Dominion Energy, Talen Energy, Energy, Union of Concerned Locations: Pennsylvania, Salt Lake City, Ohio, Texas, New Jersey, Our, Jersey, Virginia, Chester , Va, Susquehanna, Chicago, New York City

☆ May see some unwinding of tail hedges on oil prices, says Rebecca Babin
▼ + stars: | 2024-04-15 | 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 EmailMay see some unwinding of tail hedges on oil prices, says Rebecca BabinRebecca Babin, Senior Energy Trader at CIBC Private Wealth, discusses Iran's strike on Israel and the impact on oil prices.

Persons: Rebecca Babin Rebecca Babin Organizations: Senior Energy, CIBC Private Wealth Locations: Israel

☆ Concern rising among Biden officials that Israel is planning incursion into Lebanon
▼ + stars: | 2024-02-29 | by ( Alex Marquardt | ) edition.cnn.com time to read: +9 min

“We are operating in the assumption that an Israeli military operation is in the coming months,” one senior Biden administration official said. That deal would likely postpone an Israeli incursion, US officials believe. “Some Israeli officials suggest that it is more of an effort at creating a threat that they can utilize. A second senior Biden administration official said there are elements inside the Israeli government and military in favor of an incursion. Benjamin Netanyahu Ariel Tagar/USA Today“Once the war is over, his expiration date arrives,” the first senior administration official said.

Persons: Biden, ”, “, let’s, Let’s, ’, Israel, Herzi, Amos Hochstein, Amos Hochstein Michael Brochstein, Amos, Hochstein, Yoav Gallant, It’s, ” Gallant, Ziv, Jalaa Marey, Benjamin Netanyahu, Benjamin Netanyahu Ariel Tagar Organizations: CNN, Biden, “, Israel, US, Getty, Lebanese Armed Forces, United Nations, UNIFIL, Bibi Locations: Israel, Lebanon, Israeli, Gaza, “, Washington, The State, Beirut, Baalbek, Israel's, Safed, AFP, ” Israel, Golan

A picture taken during an organised tour by Yemen's Houthi rebels on November 22, 2023 showing the Galaxy Leader cargo ship approaching the port in the Red Sea off Yemen's province of Hodeida. Oil prices fell Tuesday as traders monitored rising tensions in the Red Sea amid a backdrop of record U.S. crude production and worries about demand in China. Crude prices had jumped more than 2% earlier in the trading session on escalating tensions in the Red Sea, a crucial global trade chokepoint. And Iran on Monday deployed a destroyer to the Red Sea, according to the country's Tansim news agency. The move by Tehran comes after U.S. Navy helicopters destroyed three boats of Iran-backed Houthi rebels.

Persons: Yemen's Houthi, Brent, Helima Croft, Croft, Adi Imsirovic, Ayatollah Ali Khamenei, Neil Beveridge, Lloyd Organizations: Galaxy Leader, The West Texas Intermediate, RBC Capital Markets, CNBC, Center for Strategic, International Studies, Monday, U.S . Navy, Navy, U.S . Central Command, Energy, Prosperity Locations: Red, Yemen's, Hodeida, China, The, Iran, Tehran, Singapore, Hangzhou, Brent, Israel, Gaza, Suez, Africa, The U.S

"Since then, the United States has turned ambition into action." On the sidelines of the conference, the United States also unveiled new measures to curb emissions of the powerful greenhouse gas methane from oil and gas operations. That awkward coincidence underscores one of COP28's most contentious questions: Can the world's response to climate change involve continuing use of fossil fuels? Harris told the conference that the United States supports phasing out of "unabated coal" use, but she did not mention other fossil fuels. "We're in a context in which we need to reduce production of fossil fuels and ... we need to be on a path of lower consumption.

Persons: Kamala Harris, Joe Biden, Harris, haven't, aren't, Catherine Abreu, John Podesta, Richard Valdmanis, Valerie Volcovici, Sarah McFarlane, Simon Jessop, Katy Daigle, Kevin Liffey, Diane Craft Organizations: Climate Fund, OPEC, United, UAE, Saturday, Exxon Mobil, Saudi Arabia's Aramco, Oil, Climate Initiative, Reuters, Thomson Locations: DUBAI, United States, Dubai, COP26, America, China, Texas, New Mexico, United Arab Emirates, U.S, Saudi, Ukraine

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures were down 60 cents, or 0.7%, at $79.98 a barrel. U.S. West Texas Intermediate (WTI) crude futures lost 68 cents, or 0.9%, to $74.86. OPEC+ is looking at deepening oil production cuts despite its policy meeting being postponed to this Thursday, an OPEC+ source said on Monday. The Middle East crisis had impacted oil prices as investors worried about impacts on supply.

Persons: Angus Mordant, Rebecca Babin, Goldman Sachs, Arathy Somasekhar, Paul Carsten, Florence Tan, Mohi Narayan, Peter Graff, Mark Potter, Tomasz Janowski, Cynthia Osterman, David Gregorio Our Organizations: REUTERS, HOUSTON, Brent, . West Texas, Organization of, Petroleum, Reuters, Saudi, CIBC Private Wealth, ING, OPEC, United, International Energy Agency, Qatar, Hamas, U.S . Commodity Futures Trading Commission, Thomson Locations: Loving County , Texas, U.S, Saudi, Russia, OPEC, Saudi Arabia, United Arab Emirates, Iraq, Turkey, United States, Gaza, Houston, London

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Brent crude futures were down 60 cents, or 0.7%, at $79.98 a barrel, while U.S. West Texas Intermediate (WTI) crude futures lost 68 cents, or 0.9%, to $74.86. "We still expect an extension of the unilateral Saudi and Russia cuts through at least the first quarter of 2024," the bank added. Higher crude stockpiles in the United States have also put downward pressure on prices, analysts said. The Middle East crisis had impacted oil prices as investors worried about impacts on supply.

Persons: Angus Mordant, Rebecca Babin, Goldman Sachs, Arathy Somasekhar, Paul Carsten, Florence Tan, Mohi Narayan, Peter Graff, Mark Potter, Tomasz Janowski, Cynthia Osterman Organizations: REUTERS, HOUSTON, Brent, U.S, West Texas, Organization of, Petroleum, Reuters, Saudi, CIBC Private Wealth, ING, OPEC, United, International Energy Agency, Qatar, Hamas, Thomson Locations: Loving County , Texas, U.S, Saudi, Russia, OPEC, Saudi Arabia, United Arab Emirates, Iraq, Turkey, United States, Gaza, Houston, London

☆ Here's why Goldman Sach's Samantha Dart is bearish on natural gas
▼ + stars: | 2023-11-17 | 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 EmailHere's why Goldman Sach's Samantha Dart is bearish on natural gasSamantha Dart, Goldman Sachs senior energy strategist, joins 'Squawk on the Street' to discuss his outlook for natural gas, whether the United States is still a reliable exporter of natural gas, and more.

Persons: Goldman, Samantha Dart, Goldman Sachs Locations: United States

☆ U.S. renewable, grid battery projects battle transformer shortage
▼ + stars: | 2023-11-15 | by ( Nicole Jao | ) www.reuters.com time to read: +5 min

LONGER LEAD TIMESLarge-scale battery projects to store energy on grids and to smooth out the variance of wind and solar power are also seeing longer lead times. They are taking around 12 to 18 months to complete, around six months longer than they would take without the supply issues, said Andrew Waranch, chief executive of battery energy storage system developer Spearmint Energy. Utility AES Corp (AES.N) has stockpiled supplies of the equipment it needs to build battery storage projects through 2025, a company spokesperson said. A shortage of raw materials that has contributed to transformer supply delays is unlikely to ease soon, manufacturers said. The supply-demand dislocation has worsened with the rapid scale-up of wind, solar and storage projects.

Persons: Nick Oxford, Vanessa Witte, Wood Mackenzie, Ben Pratt, Pratt, we've, Reagan Farr, Farr, Andrew Waranch, Waranch, Marco Terruzzin, Doug Banty, Banty, John Darby, Nicole Jao, Simon Webb, Nick Zieminski Organizations: REUTERS, AES, Nova Clean Energy, Silicon, Spearmint Energy, Developers, American Clean Power Association, U.S . Energy Information Administration, AES Corp, MGM, Niagara, Thomson Locations: Big Spring , Texas, U.S, Chicago, Swiss, China, California, Russia, Ukraine, New York

☆ We're not seeing the oil inventory draws that we've seen despite robust supply: CIBC's Rebecca Babin
▼ + stars: | 2023-11-09 | 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 EmailWe're not seeing the oil inventory draws that we've seen despite robust supply: CIBC's Rebecca BabinRebecca Babin, CIBC Private Wealth senior energy trader, joins 'Squawk Box' to discuss the state of the oil market after prices slid to their lowest levels in months, the impact of waning demand in the U.S. and China, and more.

Persons: we've, Rebecca Babin Rebecca Babin Organizations: CIBC Private Wealth Locations: U.S, China

Interest rates for long-term borrowing for capital improvements also would be less costly for Pine Tree Power. The anger and frustration from electric ratepayers in Maine is a far cry from the days when Iberdrola bought Central Maine Power, the state’s largest electric utility. The privately operated, nonprofit Pine Tree Power utility would contract with a private grid operator through a competitive bidding process. But Pine Tree Power would face some of the same constraints as CMP and Versant. And, like the existing utilities, Pine Tree Power would have no control over the actual cost of electricity, which comprises about half of consumers' monthly bills.

Persons: Mainers, ”, Timothy Cox, Janet Mills, William Harwood, Seth Berry, Harwood, Ann, Ursula Schryver, Schryver, Mike Jacobs, Jacobs, who's, Christie Decker, “, Decker, Freed, Willy Ritch, ” Al, David Sharp, @David_Sharp_AP Organizations: Central Maine Power, Energy Partners, Democratic Gov, Maine Public, CMP, Nationwide, American Public Power Association, Union of Concerned Scientists, Iberdrola, Maine, Tree, Maine Affordable Energy Coalition Locations: PORTLAND, Maine, U.S, Washington, Tree, Francisco, San Diego, Ann Arbor , Michigan, Rochester , New York, Nebraska, Boston, Wilton, Pine, ” Al Cleveland

"The most serious outcome for crude is that the conflict escalates into a more devastating proxy war which could affect crude supply," said Rebecca Babin, senior energy trader at CIBC Private Wealth US. Israel's port of Ashkelon and its oil terminal have been shut in the wake of the conflict, sources said. Goldman Sachs said the conflict reduced the likelihood of normalization of Israel's relations with Saudi Arabia, and the associated boost to Saudi production over time. The conflict is likely to lead to higher volatility and speculation in oil markets, the CEO of Brazil's Petrobras (PETR4.SA) said. High oil price due to the conflict could bolster inflation, analysts said, forcing rate hikes that could dampen demand.

Persons: recouping, Brent, WTI, Israel, Rebecca Babin, Agustin Marcarian, Goldman Sachs, Caroline Bain, Saxo Bank's Ole Hansen, Nicolas Maduro, Arathy Somasekhar, Natalie Grover, Andrew Hayley, Emily Chow, Kirsten Donovan, Lisa Shumaker, David Gregorio Our Organizations: HOUSTON, . West Texas, Reuters Graphics Reuters, Hamas, CIBC Private Wealth, Israel, REUTERS, Saudi, Analysts, Capital Economics, U.S, Petrobras, PETR4, Thomson Locations: Saudi, Israel, Ashkelon, Israel US, Venezuela, Palestinian, Gaza, Saudi Arabia, Washington, Riyadh, Vaca, Patagonian, Neuquen, Argentina, Moscow, U.S, Iran, Russia, Caracas, Mexico, Tel Aviv, Houston, London, Beijing, Singapore

☆ Ukraine 'ready for winter loads' after repairs to energy system
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

Sergij Ovchynnikov, a worker of electricity company Khersonoblenergo, replaces the power cord of a pylon amid Russia's invasion of Ukraine, in Pravdyne, Kherson region, Ukraine, February 23, 2023. REUTERS/Lisi Niesner/File Photo Acquire Licensing RightsKYIV, Sept 13 (Reuters) - Ukraine has nearly completed repairs of its power systems following Russian air strikes on energy infrastructure last winter, and is ready for the coming winter, a senior energy official said on Wednesday. "We have installed all the equipment we planned and we are ready for the winter loads," Volodymyr Kudrytskiy, head of state-owned Ukrenergo power grid operator, told national television. Kudrytskiy said there was a 'high risk' of new attacks on the county's energy system this winter, but that Ukrainian air defences were much stronger now. He said the pace of repairs this year was six to seven times quicker than the average time for repairs before Russia's full-scale invasion in February 2022.

Persons: Sergij, Lisi Niesner, Volodymyr Kudrytskiy, Kudrytskiy, Ukrenergo, Pavel Polityuk, Timothy Organizations: REUTERS, Rights, Timothy Heritage, Thomson Locations: Ukraine, Pravdyne, Kherson region

However, as government policies started to line up in the industry's favor in recent years, offshore wind developers unveiled a host of new project proposals, mostly off the U.S. East Coast. Many contracts for offshore wind projects have no mechanism for adjustment in the case of higher interest rates or costs. In New York, offshore wind developers also sought to boost the price of power produced at their projects. Norway's Equinor EQNR.OL and its partner BP (BP.L) are seeking a 54% increase for the power produced at three planned offshore wind farms - Empire Wind 1 and 2 and Beacon Wind. But the offshore wind industry is not fully satisfied.

Persons: Joe Biden, Kevin Lamarque, Eli Rubin, Rubin, Equinor, France's, Scott DiSavino, Nerijus, Nichola Groom, Simon Webb, Marguerita Choy Organizations: Federal, State, White, REUTERS, U.S ., Dominion, EBW Analytics, Reuters, U.S . Federal Reserve, Commonwealth, BP, Nichola, Thomson Locations: Washington , U.S, U.S, Europe, U.S . East Coast, Rhode, Virginia, Massachusetts, New York, Oslo, Culver City

☆ Short-sellers have been flushed out of the oil market, says CIBC's Rebecca Babin
▼ + stars: | 2023-09-06 | 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 EmailShort-sellers have been flushed out of the oil market, says CIBC's Rebecca BabinRebecca Babin, Senior Energy Trader at CIBC Wealth, discusses Saudi Arabia and Russia's decision to extend oil production cuts to the end of the year.

Persons: CIBC's Rebecca Babin Rebecca Babin Organizations: Senior Energy, CIBC Wealth Locations: Saudi Arabia

☆ Oil prices are up 20% and energy stocks are rebounding
▼ + stars: | 2023-08-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

New York CNN —Energy stocks are making a comeback after being left for dead earlier this year. Energy stocks faltered in the beginning of the year, defying investors’ expectations for last year’s boom to accelerate on a lack of global supply. That drop in energy stocks came despite OPEC+ producers, the cartel of oil producing countries plus Russia, announcing several output cuts in a bid to bump up crude prices. US WTI crude oil prices have gained 22% since June 11, while global benchmark Brent is up by 19%. Jobs report will likely be strongMarkets and economists are expecting another solid jobs report on Friday, reports my colleague Alicia Wallace.

Persons: That’s, what’s, ”, Rebecca Babin, Chevron, Derek Amey, Jobs, Alicia Wallace, Daniel Zhao, Refinitiv, Read, Here’s what’s, Danielle Wiener, Bronner, We’ve, ” Read Organizations: CNN Business, Bell, New York CNN — Energy, Energy, OPEC, Brent, Federal Reserve, CIBC Private Wealth, titans, Shell, Reuters, Glassdoor, USA Rice Federation Locations: New York, Russia, Saudi Arabia, China

☆ Big Oil's capital discipline has led to solid returns and tremendous dividends: Wells Fargo's Read
▼ + stars: | 2023-07-28 | 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 EmailBig Oil's capital discipline has led to solid returns and tremendous dividends: Wells Fargo's ReadRoger Read, Wells Fargo senior energy analyst, joins 'Squawk on the Street' to discuss his thoughts on Exxon and Chevron, if big oil will begin to buy more properties, and much more.

Persons: Wells Fargo's Read Roger Read, Wells Organizations: Exxon, Chevron Locations: Wells Fargo

☆ Crude oil rally can continue if the supply side holds true, says CIBC's Rebecca Babin
▼ + stars: | 2023-07-25 | 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 EmailCrude oil rally can continue if the supply side holds true, says CIBC's Rebecca BabinRebecca Babin, CIBC Private Wealth senior energy trader, joins 'Squawk Box' to discuss the crude oil market, what it'll take for the rally to continue, and more.

Persons: CIBC's Rebecca Babin Rebecca Babin Organizations: CIBC Private Wealth

☆ The oil market is very chill about the chaos in Russia. Should it be?
▼ + stars: | 2023-06-28 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

Oil prices are, incredibly, lower today than they were before the short-lived uprising in Russia — one of the world’s most important players in the oil market. But some oil market veterans wonder if the pendulum has now swung too far in the other direction. An actual disruption to Russia’s oil flows would be a game-changer for the oil market, and perhaps the world economy. That country’s civil war shut down oil export terminals — and even though Libya’s output is much smaller than that of Russia, oil prices shot higher. For now, the oil market is betting there won’t be a repeat of the Libya unrest in Russia.

Persons: Wagner, Russia won’t, Vladimir Putin’s, Jerome Powell, Powell, Putin, ” Helima Croft, ”, Croft, Yevgeny Prigozhin, Bob McNally, George W, Bush, ” McNally, Prigozhin, “, ” Croft, Obama Organizations: New York CNN Business, CIA, RBC Capital Markets, CNN, Rapidan Energy Group, RBC, Strategic Petroleum Reserve Locations: Russia, Ukraine, Moscow, China, Libya

OTTAWA, June 1 (Reuters) - The Canadian government is backing up to C$3 billion ($2.24 billion) in loans for Trans Mountain Corp (TMC), the crown corporation building an over-budget and long-delayed oil pipeline expansion to Canada's Pacific Coast. Last year Liberal Prime Minister Justin Trudeau's government, which bought the Trans Mountain pipeline in 2018 to ensure the expansion project got built, provided a C$10 billion loan guarantee to TMC. The Trans Mountain Expansion will nearly triple the flow of crude from Alberta's oil sands to Burnaby, British Columbia, to 890,000 barrels per day and is intended to boost access to Asian refining markets. Finance Ministry spokeswoman Marie-France Faucher said the loan guarantee was "common practice" and did not reflect any new public spending. TMC is paying a fee to the government for the loan guarantee, she said.

Persons: Justin Trudeau's, Chrystia Freeland, Marie, France Faucher, Faucher, Stephen Ellis, Keith Stewart, Ismail Shakil, Nia Williams, Daniel Wallis, Richard Chang Organizations: OTTAWA, Canadian, Trans Mountain Corp, Export Development, Liberal, TMC, Finance, Morningstar, Greenpeace Canada, Thomson Locations: Coast, Burnaby , British Columbia, France

☆ What to know about buying a used electric vehicle as more hit the auto sales market
▼ + stars: | 2023-05-21 | by ( Joe D'Allegro | ) www.cnbc.com time to read: +6 min

Electric vehicle sales keep growing, too. As recently as 2021, total battery-powered electric vehicle sales in the U.S. were under 450,000, but Kelley Blue Book says sales surpassed 800,000 in 2022 and are expected to top one million this year. While the used EV market is still very small, the growth trajectory of EV sales means shopping for a used electric vehicle will become more common and get easier over time, and encompass more make and model choices. In many ways, shopping for a used electric vehicle is the same as looking for any other used car or truck. Electric vehicles lose value faster, but upkeep is lessEVs generally depreciate faster than ICE vehicles, according to Kelley Blue Book.

But at the same time, EU countries have increased their overall purchases of Russian LNG, undermining the bloc's pledge to end its use of Russian fossil fuels by 2027. Russian LNG exports by region Russian LNG exports by regionEU analysis found Russian LNG imports increased to 22 billion cubic metres (bcm) last year, up from 16 bcm in 2021. Belgium and Spain nearly doubled their imports of Russian LNG in the 12 months since Russia invaded Ukraine, analysis by Kpler showed. The Netherlands has eliminated its Russian pipeline gas imports since the war and reduced, but not eliminated, Russian LNG imports. TO BAN OR NOT TO BANHalting Russian LNG imports would be double-edged, analysts say.

Oil futures have fallen over 8% since last Friday as the collapse of SVB Financial (SIVB.O) and peer Signature Bank (SBNY.O) prompted concerns of a wider banking crisis. Investors in the oil market, including oil producers, have rushed to buy put options, used to either bet on or protect against downside movement. For U.S. crude futures options open interest, the ratio of puts to calls is the highest since August 2022. The discount of later-dated oil futures contracts to the front-month contract tightened on Wednesday, indicating that market participants were less confident in short-term demand. That short-term uncertainty should buoy put buying, Price Futures Group's Flynn said.

☆ Japan to promote gas, LNG, hydrogen investments during G7 presidency - METI
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Feb 28 (Reuters) - Japan plans to emphasise the importance of investments in natural gas, liquefied natural gas as well as cleaner fuels such as hydrogen and ammonia during the country's presidency at the G7 summit later this year, a senior energy official said. Takeshi Soda, director, petroleum and natural gas division, Ministry of Economy, Trade and Industry (METI), told a conference on Tuesday that such investments would be central to solving potential future energy shocks. Reporting by Katya Golubkova and Yuka Obayashi; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Crude prices rising above $100 in six months seems 'overzealous', says Rebecca Babin
▼ + stars: | 2023-02-23 | 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 EmailCrude prices rising above $100 in six months seems 'overzealous', says Rebecca BabinRebecca Babin, CIBC Private Wealth senior energy trader and managing director, joins 'Squawk Box' to discuss Babin's six-month outlook for energy, why the oil market isn't already near $100 a barrel and Babin's outlook for refined products.

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