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☆ Oil prices slip as International Energy Agency cuts demand growth forecast
▼ + stars: | 2024-05-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

Crude oil futures edged lower Wednesday as the International Energy sees global demand growing less than originally forecast this year. World oil demand is forecast to grow by 1.1 million barrels per day this year, down 140,000 bpd from last month's projection as demand in developed economies softened in the first quarter, according to an IEA report. Here are today's energy prices:Global crude inventories surged in March by 34.6 million barrels as trade disruptions pushed oil on water to a post pandemic high, according to the IEA. Oil deliveries have been rerouted this year due to attacks by Yemen-based Houthi militants on shipping through the Red Sea. Inventories continued to build in April as oil on water was discharged to land, leading to an increase in onshore stockpiles, according to the IEA.

Persons: Brent Organizations: International Energy, IEA Locations: Yemen

☆ Goldman says buy call options in these stocks set to benefit from an AI-driven energy demand surge
▼ + stars: | 2024-05-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Power demand is expected to surge over the next decade driven primarily by artificial intelligence and data centers, with natural gas , renewable and utility stocks poised to benefit, according to Goldman Sachs. AI and data centers will consume 8% of U.S. power demand by 2030, compared with 3% currently, according to Goldman projections. Natural gas will power 60% of the growth, while renewables are expected to make up the other 40%, according to the investment bank. Goldman recommends that investors buy call options for stocks most levered to the coming power demand surge. These buy-rated stocks are attractive because their current volatility is well below their median implied volatility, according to Goldman.

Persons: Goldman Sachs, Goldman, Kinder Morgan Organizations: Southern Company, Southern

☆ Clarence Thomas, who has faced scrutiny over his ethics, discusses people who 'bomb your reputation'
▼ + stars: | 2024-05-11 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The subsequent uproar resulted in Thomas updating financial disclosures to indicate his ties to the conservative donor. "I think what you are going to find and especially in Washington, people pride themselves on being awful. It is a hideous place as far as I'm concerned," Thomas told his Friday audience, per the AP. Representatives for Thomas and the Supreme Court did not immediately respond to a request for comment.

Persons: —, Clarence Thomas, he's, Thomas, Justice, Kathryn Kimball Mizelle —, Donald Trump, it's, Harlan Crow, Ginni Thomas Organizations: Service, Circuit Judicial, Associated Press, Business, US, The New York Times, Finance Locations: Clear , Alabama, Washington

☆ Oil prices fall more than 1% as market softens on rising inventories
▼ + stars: | 2024-05-08 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

Crude oil futures fell more than 1% on Wednesday as the market softens on rising inventories, though prices could firm later this year as demand increases during the summer driving season. "Oil market indicators have turned softer in recent weeks, and prices have declined from recent peaks," Morgan Stanley analysts said in a Wednesday note. "The oil market is not tight now, but we see seasonal strength ahead in coming months." Here are today's energy prices:Oil prices have fallen 8% since April highs when traders bid up prices on fears that Iran and Israel would go to war. Investors have largely sold off the war premium since then, with Morgan Stanley removing $4 per barrel of risk from its oil price forecast for the year.

Persons: Morgan Stanley Organizations: Investors Locations: U.S, Iran, Israel

☆ Oil falls as course of Gaza war remains uncertain, while cease-fire talks hang in the balance
▼ + stars: | 2024-05-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Hundreds of Palestinians, including women and children living in east part of Rafah, migrate to the west part of the Khan Yunis with their few belongings loaded on vehicles following the Israel's announcement on the evacuation of neighborhoods, in Khan Yunis, Gaza on May 6, 2024. Crude oil futures fell Tuesday as the course of the war in Gaza remains uncertain. Israel's war cabinet unanimously voted to continue military operations in Rafah after rejecting a cease-fire proposal accepted by Hamas on Monday. Israeli forces seized the Rafah border crossing, sparking condemnation from Egypt, which has been mediating cease-fire talks. Chevron CEO Mike Wirth said prices have remained in a relatively stable band but risk remains to the upside for oil due to the war's proximity to the Strait of Hormuz — the most important global transit point for crude.

Persons: Mike Wirth Organizations: Chevron Locations: Rafah, Khan Yunis, Gaza, Egypt, Hormuz

☆ Microsoft signs deal with Swedish partner to remove 3.3 million metric tons of carbon dioxide
▼ + stars: | 2024-05-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Microsoft signed a deal to remove to permanently remove 3.3 million metric tons of carbon dioxide with Swedish energy company Stockholm Exergi, the companies announced on Monday. The contract with Microsoft is the world's largest carbon removal deal to date, Stockholm Exergi said in a statement. Carbon dioxide released from those materials during incineration will be removed from the gas emitted from the plant, liquified for transport and permanently stored underground. Stockholm Exergi is selling carbon removal certificates, equivalent to 1 million metric tons of carbon dioxide, to help companies achieve their net-zero emissions goals. "Leveraging existing biomass power plants is a crucial first step to building worldwide carbon removal capacity," said Brian Marrs, Microsoft's senior director of energy and carbon removal, in a statement.

Persons: Stockholm Exergi, Anders Egelrud, Brian Marrs, Microsoft's Organizations: Microsoft, Stockholm Exergi Locations: Stockholm, Swedish, Europe

☆ Chevron CEO says natural gas demand will outpace expectations on data center electricity needs
▼ + stars: | 2024-05-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

Natural gas demand will likely outpace expectations as electricity consumption surges from artificial intelligence and data centers, Chevron CEO Mike Wirth told CNBC on Monday. "It's a little hard to quantify right now because this is evolving so quickly on the AI side," Wirth told CNBC's Sara Eisen at the Milken Institute's Global Conference in Los Angeles. "But I think demand for natural gas is likely to be higher than what people have been estimating up until now." Wirth said the move to electrify the nation's vehicle fleet, heating and manufacturing as well as the increase in demand from data centers will require reliable and affordable backup power generation. Wind and solar offer affordable power in some regions, but they still face challenges in generating enough electricity to meet peak demand because they rely on variable weather conditions, the Chevron CEO said.

Persons: Mike Wirth, Wirth, CNBC's Sara Eisen Organizations: Chevron, CNBC, Milken Institute's Global Conference Locations: Los Angeles

☆ Exxon CEO says dispute with Chevron over Hess Guyana oil assets could drag into 2025
▼ + stars: | 2024-05-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Darren Woods, chairman and chief executive officer of Exxon Mobil Corp, speaks during the 2024 CERAWeek by S&P Global conference in Houston, Texas, US, on Monday, March 18, 2024. Exxon CEO Darren Woods said Monday that the dispute with Chevron over Hess Corporation 's oil assets in Guyana likely will not be resolved until 2025. "This is an important arbitration obviously not only for Exxon Mobil but for Chevron and Hess," Woods said. Exxon is claiming a right of first refusal on Hess' assets in Guyana under a joint operating agreement that governs a consortium that is developing the South American nation's prolific oil resources. The CEO has repeatedly expressed confidence that Exxon will prevail in the dispute, saying the company wrote the agreement that governs the consortium.

Persons: Darren Woods, Woods, CNBC's David Faber, Hess Organizations: Exxon Mobil Corp, P Global, Exxon, Chevron, Hess Corporation, Milken Institute's Global Conference, Exxon Mobil, Hess, International Chamber of Commerce Locations: Houston , Texas, Guyana, Los Angeles, Paris

☆ Goldman is bullish long term on nuclear power and uranium. This stock is a key way to gain exposure
▼ + stars: | 2024-05-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Goldman has raised Cameco's 12-month stock price target by $1 to $56, implying 15.7% upside from Friday's close. CCJ YTD mountain CCJ 3-mo chart "We continue to see CCJ as a key means of gaining exposure to the entire value chain of uranium," Goldman analysts lead by Neil Mehta told clients in a note Monday. Though Cameco's sales of 7.3 million pounds of uranium in the quarter missed guidance of 8.25 million pounds, the company maintained its full-year guidance of 32 million pounds to 34 million pounds. Governments around the world increasingly view nuclear power as a key pillar of the energy transition because the technology can provide reliable carbon-free energy at a time when electricity demand is rising. Western countries are seeking secure supplies of uranium to support a nuclear buildout, rather than relying on Russia or neighboring Kazakhstan.

Persons: Goldman Sachs, Goldman, Cameco, Neil Mehta, Mehta, Joe Biden Organizations: Uranium, The U.S, Senate Locations: Friday's, Canada, Russia, Kazakhstan, The, Russian

☆ U.S. oil rises as Israel tells Palestinians to evacuate Rafah, Saudi Aramco increases prices
▼ + stars: | 2024-05-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

In this article @LCO.1@CL.1 Follow your favorite stocks CREATE FREE ACCOUNTPalestinians, including children, collect usable belongings in the heavily damaged buildings after Israeli attacks in Rafah, Gaza on February 12, 2024. Building targeted in the Israeli attacks and surrounding structures were damaged as Israel's air, land and sea attacks continue on the Gaza Strip. (Photo by Jehad Alshrafi/Anadolu via Getty Images) Jehad Alshrafi | Anadolu | Getty ImagesU.S. oil rose Monday, trying to recover from last week's steep declines, after Israel told Palestinians to evacuate the southern Gaza city of Rafah, and Saudi Aramco raised its official crude prices. Stock Chart Icon Stock chart icon WTI vs. BrentBut tensions in the Middle East are rising again after the Israel Defense Forces told some 100,000 Palestinians to leave the southern Gaza city of Rafah. Efforts to broker a ceasefire between Israel and Hamas have stalled again, with the two sides accusing each other of sabotaging a deal.

Persons: Jehad Alshrafi, Brent Organizations: Getty, Anadolu, Saudi Aramco, West Texas Intermediate Brent, Natural Gas, Israel Defense Forces, Hamas Locations: Rafah, Gaza, Anadolu, Israel, Saudi, Iran, U.S

☆ AI could drive a natural gas boom as power companies face surging electricity demand
▼ + stars: | 2024-05-05 | by ( Spencer Kimball | ) www.cnbc.com time to read: +10 min

AI data centers alone are expected to add about 323 terawatt hours of electricity demand in the U.S. by 2030, according to Wells Fargo. The forecast power demand from AI alone is seven times greater than New York City's current annual electricity consumption of 48 terawatt hours. The natural gas industry is betting gas will serve as the preferred choice. Coal plant retirements and data centers could result in 6 bcf/d of new natural gas demand in EQT's backyard by 2030, the CEO said. The level of electricity demand could help lift natural gas prices out of the doldrums.

Persons: Kena, Goldman Sachs, Robert, Richard Kinder, Kinder Morgan, Kinder, Roger Read, Wells, Goldman, Toby Rice, Rice, CNBC's, Christopher Womack, Robert Blue, EQT, Jeremy Knop, Knop, Blue, Read, Lynn, Zack Van Everen, Robert Kinder Organizations: Linden, View Press, Getty, Amazon, Google, Microsoft, Meta, Rystad Energy, Robert Blue Dominion Energy, Gas, Holt, Co, EQT Corp, U.S ., Dominion Energy, Georgia Power, Southern Company, Dominion, Renewables, CNBC, Lynn Good, Energy Locations: Linden New Jersey, U.S, Wells, Wells Fargo, New York, Houston, Pickering, Northern Virginia, Georgia, Appalachian, Virginia, Gulf

☆ Data center boom is tailwind for natural gas. Goldman says these pipeline stocks will profit
▼ + stars: | 2024-05-05 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The two largest pipeline operators in the U.S. are poised to benefit from the data center boom as rising natural gas demand requires billions of dollar of infrastructure investment, according to Goldman Sachs. To satisfy power users, the data center boom could drive $7.4 billion in pipeline investments to boost capacity by 6.1 bcf/d through 2030. Goldman currently rates Kinder Morgan as buy with a stock price target of $20, implying 8% upside from Friday's close of $18.57. Williams Companies' market share stands at 33%, with strong exposure in the Southeast, including the nation's largest data center market in Northern Virignia. The company is the largest natural gas producer in the U.S., responsible for about 6% of total production.

Persons: Goldman Sachs, Kinder Morgan, Williams, KMI, Goldman, — CNBC's Michael Bloom Organizations: Goldman, Williams Companies, Williams, EQT Corp Locations: U.S, Texas, Northern Virignia

☆ Lithium giant Albemarle’s plans to reopen a rich mine in North Carolina will take years to complete
▼ + stars: | 2024-05-03 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Albemarle 's plans to reopen a resource rich lithium mine in North Carolina will take longer than originally expected as a collapse in lithium prices weighs on the company. Albemarle, a top lithium producer, had originally planned to reopen the Kings Mountain mine as early as late 2026 to increase domestic lithium production and support a U.S. electric vehicle battery supply chain. Kings Mountain could produce enough material to manufacture 1.2 million electric vehicles annually. There is currently only one operational lithium mine in the U.S. in Silver Peak, Nevada, which is owned by Albemarle. Albemarle does not have a precise date for when Kings Mountain will become operational, Norris said.

Persons: Albemarle, Eric Norris, It's, we've, Norris Organizations: CNBC, Kings Locations: North Carolina, Albemarle, U.S, Silver, , Nevada, Albemarle . Albemarle

☆ FTC accuses ex-Pioneer CEO of colluding with OPEC, blocks him from Exxon board seat
▼ + stars: | 2024-05-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The FTC filed a complaint alleging that Scott Sheffield attempted to collude with representatives of OPEC to reduce oil and gas output to increase prices at the pump and inflate Pioneer's profits. "The FTC has a responsibility to refer potentially criminal behavior and takes that obligation very seriously," spokesman Doug Farrar told CNBC. In response, Exxon agreed to keep Sheffield off its board, the oil major said in a statement Thursday. The FTC alleged that Sheffield repeatedly held private conversations with high-ranking OPEC representatives to assure them that Pioneer and its competitors in the Permian Basin were working to keep oil output artificially low. "Notwithstanding, Pioneer and Mr. Sheffield are not taking any steps to prevent the merger from closing," the company said in the statement.

Persons: Scott Sheffield, Doug Farrar, Exxon, Sheffield, Sheffield's, Lina Khan, — CNBC's Pippa Stevens, Mary Catherine Wellons, Lina Khan's Organizations: Federal Trade Commission, Natural Resources, OPEC, Exxon Mobil, Pioneer, FTC, Justice Department, Wall Street, CNBC, Exxon, Sheffield

☆ U.S. crude oil bounces after hitting seven-week low on surging U.S. inventories
▼ + stars: | 2024-05-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

An oil pumpjack is pictured in the Permian basin, Loco Hills regions, New Mexico, U.S., April 6, 2023. Liz Hampton | ReutersU.S. crude oil edged higher on Thursday after selling off to a seven-week low on a surge in petroleum inventories on softening demand. Here are today's energy prices: West Texas IntermediateBrentRBOB Gasoline June: $2.59 a gallon, up 0.57%. Natural Gas Oil prices tumbled more than 3% on Wednesday after U.S. commercial crude inventories, which exclude the strategic petroleum reserves, surged by 7.3 million barrels to 461 million barrels total last week. The rate at which refiners process crude and the average demand for gasoline is lower than the year-ago period despite summer driving season rapidly approaching.

Persons: Liz Hampton, Brent Those, Bob Yawger, Tamas Varga Organizations: Reuters, West Texas Intermediate Brent, Natural Gas, Mizuho Americas, Federal Reserve Locations: Loco Hills, New Mexico, U.S

☆ This solar stock is poised for 50% upside as demand strengthens on data center surge, Goldman says
▼ + stars: | 2024-05-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

First Solar is poised for growth as demand continues to improve with surging electricity consumption from data centers acting as a catalyst for the manufacturer, according to Goldman Sachs. The firm raised its stock price target to $268 after First Solar reported another stronger quarter, which suggests the shares could log 50% upside from Wednesday's close of $177.58. First Solar CEO Mark Widmar told analysts during the company's earnings call that he is seeing a "meaningful increase in demand expectations driven in part by data center load growth." Apple , Google, Meta , and Microsoft are committed to carbon-free energy as they hyperscale data centers, Widmar said. "We'll be ready to go as quickly as possible," Widmar told analysts.

Persons: Goldman Sachs, Brian Lee, Morgan, Mark Strouse, Strouse, Wall, Mark Widmar, Widmar, Alexander Bradley Organizations: First, Google, Microsoft

☆ U.S. crude oil falls for third day, dips below $81 ahead of Fed decision, Gaza cease-fire talks
▼ + stars: | 2024-05-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

U.S. crude oil fell below $81 a barrel Wednesday in the third straight day of losses as hopes for cease-fire in Gaza and growing concerns about the future course of interest rates in the U.S. weighed on prices. U.S. crude oil is now off 8% from its intraday high for the year of $87.67, when traders bid up prices on fears that Iran and Israel were on the brink of war. Here are today's energy prices:Traders will be closely monitoring the Federal Reserve's meeting Wednesday for any indication of the central bank's future course on interest rates.

Locations: Gaza, U.S, Iran, Israel

☆ Microsoft signs deal to invest more than $10 billion on renewable energy capacity to power data centers
▼ + stars: | 2024-05-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Microsoft has signed a deal with Brookfield Asset Management to invest more than $10 billion to develop renewable energy capacity to power the growing demand for artificial intelligence and data centers, the companies announced on Wednesday. Brookfield will deliver 10.5 gigawatts of renewable energy for Microsoft between 2026 and 2030 in the U.S. and Europe under the agreement. The 10.5 gigawatts of renewable capacity is 3 times larger than the 3.5 gigawatts of electricity consumed by data centers in Northern Virginia, the largest data center market market in the world. A Brookfield spokesperson said the deal would lead to more than $10 billion of investment in renewable energy. The scope of the deal could increase to include additional energy capacity in the U.S. and Europe, as well as Asia, Latin America and India, the companies said.

Persons: Satya Narayana Nadella, Wells Organizations: Microsoft, Brookfield Asset Management, Brookfield, Research Locations: Manhattan, New York City, U.S, Europe, Northern Virginia, Asia, Latin America, India

☆ Oil prices edge higher as Netanyahu says Israel will attack Rafah with or without hostage deal
▼ + stars: | 2024-04-30 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Israeli Prime Minister Benjamin Netanyahu addresses the Conference of Presidents of Major American Jewish Organizations, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Jerusalem, February 18, 2024. Ronen Zvulun | ReutersCrude oil futures moved slightly higher Tuesday after Israel Prime Minister Benjamin Netanyahu dismissed hopes that a proposed hostage deal would prevent an attack on the southern Gaza city of Rafah. Here are today's energy prices: West Texas IntermediateBrentRBOB GasolineNatural Gas The U.S. is pushing for a cease-fire to head off an Israeli offensive against Rafah. But Netanyahu threatened to move against Rafah regardless of whether a hostage deal is reached. "We will enter Rafah and we will eliminate the Hamas battalions there – with or without a deal, in order to achieve the total victory."

Persons: Benjamin Netanyahu, Ronen Zvulun, Netanyahu, Brent Organizations: Major, Jewish, Hamas, Reuters, Israel, West Texas Intermediate Brent, Gas, Rafah Locations: Israel, Palestinian, Jerusalem, Gaza, Rafah, Washington

☆ Wolfe Research says to play enduring inflation through energy stocks — these 2 in particular
▼ + stars: | 2024-04-29 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Investors should look to energy stocks as stubborn inflation weighs on the stock market amid growing anxiety over whether the Federal Reserve will cut interest rates at all this year, according to Wolfe Research. "This inability to adequately tame inflation of course coincides with the reacceleration of Oil and Energy stocks over the past few months," analysts Rob Ginsberg and Read Harvey told clients in a Monday note. The Wolfe analysts said investors should take advantage of any near-term overbought consolidations and make a play for the stock to rise back into the mid $40s. Crude oil and the 10-year breakeven inflation rate, meanwhile, are both on the upswing from multiyear bases, according to the Wolfe analysts. "Needless to say, we want to keep playing Oil and Energy stocks to the upside over near – mid term, which should in turn put continued upward pressure on inflation," the Wolfe analysts said.

Persons: Rob Ginsberg, Read Harvey, Ginsberg, Harvey, Halliburton, EQT, Wolfe, CNBC's Michael Bloom Organizations: Federal Reserve, Wolfe Research, Oil, Energy, Halliburton, EQT Corporation, HAL, Securities Locations: –

☆ Oil prices fall as Secretary of State Blinken pushes for Gaza cease-fire
▼ + stars: | 2024-04-29 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

A view of the damaged buildings and streets after months of Israeli bombardment which have turned the city into piles of rubble and ash in Khan Yunis, Gaza on April 19, 2024. Crude oil futures fell Monday as the U.S. Secretary of State made a renewed diplomatic push in the Middle East to secure a cease-fire in Gaza and head off an Israeli offensive against Rafah. A successful cease-fire agreement would likely further ease the geopolitical risk premium factored into oil prices on fears that the war in Gaza could trigger a broader conflict in the Middle East that disrupts crude supplies. Here are today's energy prices:Secretary of State Antony Blinken held talks with Arab leaders in Saudi Arabia on Monday. He will travel to Israel and Jordan on Tuesday.

Persons: Antony Blinken, Jordan Organizations: U.S, State, Rafah Locations: Khan Yunis, Gaza, Saudi Arabia, Israel

☆ Exxon stock falls as earnings miss on lower natural gas prices and squeezed refining margins
▼ + stars: | 2024-04-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

An Exxon gas station is seen on October 06, 2023 in the Brooklyn borough of New York City. Exxon Mobil on Friday reported first-quarter earnings that missed expectations as the industry came under pressure from eroding refining margins and collapsing natural gas prices. Natural gas prices have plummeted 37% this year, and refining margins are lower than they were a year ago. Oil and gas production profits fell 12% to $5.67 billion, compared with $6.46 billion in same quarter last year due to lower natural gas prices. Exxon's fuel business saw earnings plummet 67% to $1.38 billion, compared with $4.18 billion in the prior year, due to lower refining margins.

Persons: Hess Organizations: Exxon, Exxon Mobil, LSEG, Chevron, Revenue, Hess Corp Locations: Brooklyn, New York City, Guyana

☆ Chevron beats earnings estimates but profit falls on lower refining margins and natural gas prices
▼ + stars: | 2024-04-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Revenue of $48.72 billion fell from $50.79 billion a year ago and was short of analyst expectations. The company attributed declining profits to lower sales margins at its refineries and lower natural gas prices eating into profits in international production. Natural gas prices have plummeted 35% this year due to a supply glut. International oil and gas earnings fell 6% to $3.2 billion as production fell by 39,000 barrels to 1.77 million bpd due to maintenance in Nigeria and field declines. The higher spending was on its oil and gas production and old assets from PDC Energy after completing its acquisition of the company last August.

Persons: Read Organizations: Chevron, LSEG, Wall, Energy Information Administration, Denver, Hess Corp, Exxon Mobil, Federal, PDC Energy Locations: U.S, Nigeria, Guyana

☆ Exxon is working on tech to remove CO2 from atmosphere but a breakthrough is needed to slash costs
▼ + stars: | 2024-04-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Exxon Mobil is working on technology to directly remove carbon dioxide from the atmosphere with the goal of slashing sky-high costs by half, CEO Darren Woods said Friday. Woods said direct air capture technology holds huge long-term potential as a tool to address climate change. But it is currently unaffordable at scale, with the removal of atmospheric emissions costing between $600 to $1,000 per ton. He added that atmospheric emissions are extremely dilute and require a massive amount of air to be processed to remove a single ton of carbon dioxide. "This is a tough challenge to break and I'm not pretending like we're going to be the ones to solve it," Woods said.

Persons: Darren Woods, Woods, We're, I'm Organizations: Exxon Mobil, Exxon Locations: Baytown , Texas

☆ As pro-Palestinian protests sweep college campuses, student journalists are rushing to the big story and exams
▼ + stars: | 2024-04-26 | by ( Hadas Gold | Liam Reilly | ) edition.cnn.com time to read: +4 min

Smith is editor-in-chief of The Lantern, Ohio State University’s student-run newspaper, which has scrambled in recent days to cover pro-Palestinian protests roiling the campus. It’s also finals week, and in the coming days the newspaper’s staff will transition to the next year’s staff. And, for many of these student journalists, it’s becoming a seminal moment in their nascent careers. “Given that we’re student journalists, we know the campus and the students here. As pressure mounted on campus, the newspaper mobilized a handful of writers who worked together to cover the protests.

Persons: Arianna Smith, Smith, It’s, ” Smith, it’s, “, We’re, we’re, Anjali Patel, ” Patel, “ We’re, Amelia Kimball, Kimball, Greg Abbott, ” Kimball, CNN’s John Berman, ” Organizations: CNN, Ohio State University’s, Ohio, ”, University of Southern, The Daily, USC, Daily, University of Texas, The Daily Texan, “ Locations: Gaza, Columbus, University of Southern California, Austin, Texas

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