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☆ Europe Is Embarking on a Mining Renaissance. Winning Over Locals Is Proving a Challenge.
▼ + stars: | 2023-08-10 | by ( Yusuf Khan | ) www.wsj.com time to read: +12 min

“It’s definitely a [mining] renaissance,” said Rebecca Campbell, global mining and metals lead at law firm White & Case. “We’re trying to foster a permitting landscape that is both efficient and responsible.”In Europe, the mining renaissance comes after years of nearly no new mining activity on the continent. Left: A layer of spodumene within the host rock that Savannah Resources intends to mine. Savannah Resources, which has set up two offices in the municipality, has said it would strictly avoid that and instead build reservoirs to store rain water. That view is echoed by Savannah Resources.

Persons: COVAS, Portugal —, Barroso, BEL, mina ”, ”, Nelson Gomes, Covas, Alex Gorman, “, Nelson, YUSUF KHAN, “ It’s, Rebecca Campbell, ” “, Jayni Hein, Hein, “ We’re, Peel Hunt’s Gorman, Dale Ferguson, Gomes, Jessica Polfjärd, Polfjärd, Ana Fontoura Gouveia, Fontoura, ” Fontoura, Yusuf Khan Organizations: COVAS DO BARROSO, Associação, Peel, Vulcan Energy Resources, Adriatic Metals, White, Covington, Burling, Environmental, Council, Savannah Resources, Sustainable Business, Sweden’s Moderate Party, Serra Locations: Portugal, Porto, Boticas, Covas, It’s, Europe, Germany, Sweden, Bosnia, Finland, Greece, U.S, Savannah, London, spodumene, Serbia, China, yusuf.khan

☆ Natural gas prices are soaring as energy workers in Australia look poised to strike, threatening global supply
▼ + stars: | 2023-08-09 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Natural gas prices surged as much as 9% on Wednesday as energy workers in Australia threatened to strike. Australia is the world's second-largest exporter of liquefied natural gas, so potential work stoppages could threaten global supply of the commodity. Natural gas prices have surged 22% over the past week, but are still down 60% from a year ago. Natural gas prices are up 22% over the past week, but are still down 60% from a year-ago. Shares of Cheniere Energy, a US-based exporter of liquefied natural gas, surged as much as 5% in Wednesday's trading session.

Persons: Rankin, Goodwyn, Chevron's Wheatstone Organizations: Service, Workers, Australian Financial, Chevron, Cheniere Energy Locations: Australia, Wall, Silicon, Western Australia, Qatar, Woodside, Australian, Chevron's, Ukraine, Russia, US

☆ Fervo Energy hits milestone in using oil drilling technology to tap geothermal energy
▼ + stars: | 2023-07-18 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +2 min

Geothermal startup Fervo Energy announced a key technical milestone on Tuesday, paving the way for geothermal energy to play a bigger role in the transition to clean energy. In the test, Fervo drilled down drilled down to 7,700 feet and then turned to drill another 3,250 feet horizontally, and internal temperatures reached roughly 375 degrees Fahrenheit. In the United States, geothermal energy supplies only 0.4% of electricity right now. Instead of relying on naturally occurring conditions, Fervo is using drilling technology developed by the oil and gas industry with hydraulic fracturing to create reservoirs in rocks deep underground. "By applying drilling technology from the oil and gas industry, we have proven that we can produce 24/7 carbon-free energy resources in new geographies across the world," Tim Latimer, the CEO of Fervo Energy, said in a written statement.

Persons: Fervo, Jesse Jenkins, Tim Latimer Organizations: Fervo Energy, Princeton, Fervo Locations: Nevada, United States

☆ The cloud uses massive amounts of energy. Generative AI will be way worse. A Microsoft data center veteran warns big changes are coming.
▼ + stars: | 2023-07-14 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +7 min

Training AI models in data centers uses up to three times more energy than traditional cloud tasks. A warning from a Microsoft data center veteranA Microsoft data center. MicrosoftTom Keane, who oversaw Microsoft's cloud data centers for about two decades, recently warned about this. An AI data center will need up to three times more power than a traditional cloud facility, he estimated. "The data center of the future is not in Virginia, it's not in Santa Clara, it's not in Dallas, Texas," Ganzi said.

Persons: Marc Ganzi, Cowen, Nammo, TikTok, Jack Clark, Matthew Barakat, Shaolei Ren, Microsoft Tom Keane, Keane, Bernstein, Mark Moerdler, DigitalBridge, Ganzi, it's, Ellen Thomas Organizations: Dominion Energy, Amazon, Microsoft, Google, McKinsey, Big Tech, Financial Times, AP, Nvidia, UC Riverside Locations: Northern Virginia, Manassas , Virginia, Virginia, DataBank, Santa Clara, Dallas , Texas

☆ Leaders of Turkey and Greece vow to repair ties after year of tension
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

[1/3] Greece's Prime Minister Kyriakos Mitsotakis meets with Turkey's President Tayyip Erdogan during a NATO leaders summit in Vilnius, Lithuania July 12, 2023. Dimitris Papamitsos/Greek Prime Minister's Office/Handout via REUTERSATHENS, July 12 (Reuters) - Greece and Turkey agreed on Wednesday to resume talks and confidence-building measures as they hailed a new "positive climate" in ties after more than a year of tensions between the historic foes. Relations improved when Greece became one of the first countries to send rescue workers to help pull survivors from the rubble after a devastating earthquake hit Turkey in February. "We are cautiously optimistic we can turn a new page," Mitsotakis told reporters after the summit. Reporting by Renee Maltezou; Additional reporting by Huseyin Hayatsever; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kyriakos Mitsotakis, Tayyip Erdogan, Dimitris Papamitsos, Erdogan, Mitsotakis, Renee Maltezou, Huseyin Hayatsever, Conor Humphries Organizations: NATO, Minister's, REUTERS, Atlantic Treaty Organization, Greek, Cooperation, Thomson Locations: Vilnius, Lithuania, REUTERS ATHENS, Greece, Turkey, Cyprus, United States, Greek, Thessalonki

☆ Berkshire Hathaway takes control of LNG facility as Buffett ups bet on energy infrastructure
▼ + stars: | 2023-07-11 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Berkshire Hathaway Energy has agreed to purchase a 50% stake in the Cove Point liquefied natural gas facility for $3.3 billion in cash. Warren Buffett's big energy and utility division bought the stake from Dominion Energy and will now own a 75% limited partnership stake in Cove Point LNG located in Lusby, Maryland. The Cove Point LNG Terminal has a storage capacity of 14.6 billion cubic feet and a daily send-out capacity of 1.8 billion cubic feet. Berkshire Hathaway first bought a stake in Dominion's gas pipeline and storage assets for $4 billion in 2020. Abel is now vice chairman for noninsurance operations at Berkshire Hathaway and the successor to the 92-year-old "Oracle of Omaha."

Persons: Warren Buffett's, Bill Stone, Buffett, Berkshire Hathaway, Greg Abel, Tom Farrell, Abel, Stone Organizations: Berkshire Hathaway Energy, Dominion Energy, Brookfield Infrastructure Partners, Glenview Trust, Sumitomo Corp, CNBC, Berkshire Hathaway, Oracle, Occidental Petroleum, Chevron Locations: Point, Lusby , Maryland, Berkshire, U.S, Glenview, Omaha, Iowa

CNN —At least 17 people have died from nitrate gas inhalation following a gas leak at an informal settlement camp in South Africa, according to state media. The leak came from a gas cylinder containing nitrate oxide at the informal settlement, William Ntlad, spokesperson for the Disaster and Emergency Management Services said. He said an initial investigation indicates the leak could be linked to illegal mining activity in the area. A police officer sits in the back of a police vehicle loaded with illegal mining equipment, after investigating the scene of a suspected gas leak thought to be linked to illegal mining, in the Angelo shack settlement, near Boksburg, east of Johannesburg, South Africa July 6, 2023. Siphiwe Sibeko/ReutersIllegal mining, mostly for gold, has remained rife in South Africa and costs the country millions of dollars each year.

Persons: Lesufi, William Ntlad, Ntladi, Siphiwe Sibeko, ” Organizations: CNN, SABC, Premier, Tambo Memorial Hospital, Emergency Management Services, Reuters, country’s Department of Mineral and Energy Resources, country’s Free Locations: South Africa, Angelo, Boksburg, Gauteng, Panyaza, Tambo, Johannesburg, Lesotho

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to prepare the U.S. power grid for the EV boomThe EV revolution could put a major strain on the nation's electric grid, an aging system built for a world that runs on fossil fuels. To upgrade the grid to meet growing electricity demand, the U.S. needs to build a massive amount of new transmission and distribution lines to connect renewable energy resources to population centers. But there are major regulatory hurdles, and the government is not investing near the amount that analysts say we need in order to meet electrification targets.

Locations: U.S

☆ Why the electric vehicle boom could put a major strain on the U.S. power grid
▼ + stars: | 2023-07-01 | by ( Katie Brigham | ) www.cnbc.com time to read: +9 min

Over half of all new cars sold in the U.S. by 2030 are expected to be electric vehicles. That could put a major strain on our nation's electric grid, an aging system built for a world that runs on fossil fuels. Major grid infrastructure needsCharging electric vehicles is quite electricity intensive. Larger electric vehicles such as the Ford F-150 Lightning would generally use more electricity than a central AC unit in a large home. The utility is tied to a four-year funding cycle for grid infrastructure upgrades, and its last funding request was in 2021.

Persons: That's, we've, Rob Gramlich, Gramlich, Lydia Krefta, Krefta, David Paul Morris, Aram Shumavon, Shumavon, we're, Sen, Joe Manchin, Joe Biden, Tesla Organizations: Rapid Energy, Princeton University, Grid, California Public Utilities Commission, EV, Tesla, Ford, Workers, Power Services, Pacific Gas & Electric, Bloomberg, Getty, Nissan Leaf, Ford Motor Company Locations: U.S, California, Northern, Central California, Healdsburg , California

☆ Climate activist faces 10 years in jail for a fake letter ‘canceling’ an oil industry conference
▼ + stars: | 2023-06-16 | by ( Laura Paddison | ) edition.cnn.com time to read: +3 min

CNN —A climate activist in New Zealand faces 10 years in jail after a court found her guilty of forgery for sending a fake letter to the speakers at an oil industry conference, telling them it had been postponed due to the climate crisis. She had been protesting outside oil conferences for years, but the 2019 PEPANZ conference was taking place in quite a small town and she was concerned few activists would be able to attend, she told CNN. Five days before the conference, she sent the letter by email, purporting to be from oil industry organizers canceling the event until further notice. PEPANZ organizers told speakers that the letter was fake and the conference went ahead. Three years later, after a trial in the Dunedin District Court, Penwarden was found guilty on Wednesday of two charges of creating and using a forged document.

Persons: Rosemary Penwarden, “, ”, Penwarden, ” Penwarden, “ I’m, Niamh O’Flynn, Rosemary, ” O’Flynn Organizations: CNN, Petroleum Exploration, Production Association of New, Greenpeace, Energy Resources Aotearoa Locations: New Zealand, Dunedin, Production Association of New Zealand, Court

☆ China is drilling a hole over 33,000-feet-deep to explore the Earth's crust
▼ + stars: | 2023-06-03 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

China has begun drilling a hole over 10,000 meters (32,808 feet) deep into the Earth's crust. Chinese President Xi Jinping named deep Earth sciences one of four strategic frontiers to explore. The drilling project, led by the country's largest oil producer China National Petroleum Corp., would be among the deepest ever drilled. In a 2021 speech addressing the nation's top scientists, Chinese President Xi Jinping named deep Earth sciences one of four strategic frontiers to explore. The deepest hole is still the Kola Superdeep Borehole in Russia, which reached 12,262 meters (40,230 feet) in 1989 after 20 years of drilling.

Persons: Xi Jinping, Wang Chunsheng Organizations: Service, Privacy, Scientists, China National Petroleum Corp, Xinhua, Chinese Academy of Engineering, Bloomberg Locations: China, Xinjiang, Xinhua, Russia

☆ Morgan Stanley's best stock picks to play the transition to clean energy
▼ + stars: | 2023-05-31 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

The transition to clean energy won't be equal across sectors, according to Morgan Stanley Research. The Wall Street bank broke down segments of the energy transition that will benefit and others that will be challenged by the transition to clean energy. For this list, CNBC picked stocks Morgan Stanley thinks stand to benefit from the move toward clean energy, with a special focus on shares with overweight and equal weight ratings. The stocks in this list fall into one of four categories: — Energy storage and fuel cells. "Not all incumbent utilities will gain from the energy transition," Byrd wrote Wednesday.

Persons: Morgan Stanley, Stephen Byrd, Stocks, Byrd, Morgan Stanley's Organizations: Morgan Stanley Research, CNBC, Products, Chemicals Inc, Linde PLC, Air Products, Chemicals, Energy, Occidental Petroleum, Exxon Mobil, Chevron, Oil, Pacific Gas and, Edison International Locations: California, U.S

Cromwell’s rule plays an important formal role in Bayesian statistics but it is important for any exercise in prediction and analysis. SOFT LANDING CONDITIONSI have written elsewhere the global economy is on course for a significant mid-cycle slowdown if not a cycle-ending recession. Multiple conditions would need to be satisfied, and none violated, for a soft landing to occur. The soft landing scenario is so tricky to pull off and therefore so improbable it has been called “immaculate disinflation” by some forecasters. Nevertheless, the probability of a soft landing is far from zero.

Exxon has held eight exploration and production contracts in Colombia, including the fracking pilot. All either have been or are being ended, suspended or liquidated, Colombia's National Hydrocarbon Agency (ANH) told Reuters. The proposed bill would ban development of non-conventional energy projects including fracking. "We will continue to have constructive dialogue with the Colombian government on a comprehensive assessment of our unconventional investments," Exxon spokesperson Michelle Gray told Reuters. Exxon said it continuously evaluates and prioritize investments, including those in Colombia.

Many DLE technologies use lots of potable water and electricity. SQM (SQMA.SN) and Albemarle Corp (ALB.N), Chile's two existing lithium producers, use evaporation ponds to produce the metal. Livent Corp (LTHM.N) uses a variation of DLE technology in Argentina alongside evaporation ponds. Lake Resources is working with Bill Gates-backed Lilac Solutions Inc to deploy Lilac's DLE technology in Argentina. In Chile, DLE companies see a business opportunity despite the nationalization plans given that Boric's new state lithium company is expected to need technical support.

☆ This renewables stock will make three kinds of investors happy, JPMorgan says
▼ + stars: | 2023-04-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

JPMorgan says three distinct investors types will find something to like in NextEra Energy Partners: energy industry investors, income hunters and those focused on environmental factors. "We believe the stock should appeal to a broad array of yield, energy and ESG investors," analyst Mark Strouse said in a note Friday. NEP provides investors access to downstream ownership of renewable projects, offering high-quality cash flows and industry-leading dividend growth, supported by the company's strong relationship with NextEra Energy ," Strouse wrote. NEP YTD mountain NextEra Energy Partners NextEra Energy Partners is a limited partnership formed by NextEra Energy. NEP's access to NextEra Energy subsidiary NextEra Energy Resources is also bullish because the latter is "best in class developer, owner, and operator of renewable assets," Strouse said.

Meanwhile, BlackRock is part of another group investing $650 million to build chargers along freight routes. Because port real estate is at a premium, most early drayage charging projects will be "behind the fence" on trucking company property, experts said. Electric trucks cannot operate without chargers, but it does not make sense to build chargers if drivers are not using electric trucks. Prologis, the biggest U.S. warehouse owner, created its mobility business to install electric truck chargers and solar panels. "A marriage between real estate and energy infrastructure" will be needed to accelerate the transition to electric-powered trucking, Prologis Mobility's Holland said.

☆ Russia risks becoming an 'economic colony of China' following its invasion of Ukraine, says CIA director
▼ + stars: | 2023-04-12 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

CIA director William Burns said Russia is becoming "more and more dependent on China." And it "runs the risk of becoming an economic colony of China over time." Putin recently dismissed "jealous people" who say Russia is becoming too dependent on China. China initially appeared unhappy with Russia's invasion of Ukraine, with Putin saying in September that China had "questions and concerns" about it. But the war appears to have strengthened economic ties, which includes China buying more Russian oil now than it did before the invasion began.

Rio Tinto, the majority shareholder in ERA which owns and operates the Ranger mine site, has been under pressure to fund the cleanup costs. Rehabilitation costs are estimated at A$1.6 billion to A$2.2 billion, ERA said in a statement. ERA shares declined 9.8% to A$0.185, their lowest since June 2022, while the benchmark index (.AXJO) was marginally higher. ERA will also use the proceeds to partly repay a A$100 million loan from Rio Tinto. (This story has been corrected to state that Rio Tinto is majority shareholder of the mine's owner and operator, not the mine's operator, in paragraph 2, and to state that the target of the protests was the mine and the Jabiluka project, not Rio Tinto, in paragraph 7)Reporting by Harish Sridharan in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

☆ Vietnam sends ship to track Chinese vessel patrolling Russian gas field in EEZ -data
▼ + stars: | 2023-03-27 | by ( Francesco Guarascio | Thomson Reuters | Francesco Leads A Team Of Reporters In Vietnam That Covers Top Financial | ) www.reuters.com time to read: +5 min

HANOI, March 27 (Reuters) - A Vietnamese ship monitored a Chinese Coast Guard vessel on Saturday in a Russian-operated gas field in Vietnam's South China Sea exclusive economic zone (EEZ), data show - the latest Chinese patrol in a pattern stretching more than a year. The patrols mirror Chinese Coast Guard activity elsewhere in the South China Sea, where such vessels have been used to assert territorial claims. A spokeswoman for Vietnam's foreign ministry said on Friday that Vietnam acts in the South China Sea “to protect its legal rights”. Malaysia, the Philippines, Taiwan and Brunei are among other countries that have competing claims in the South China Sea. Chinese Coast Guard vessels have also patrolled the Tuna block; in January, Indonesia deployed a warship to monitor a Chinese ship there.

☆ After calling the Russia-Ukraine war a 'territorial dispute,' DeSantis says Putin is a 'war criminal' and 'basically a gas station with a bunch of nuclear weapons'
▼ + stars: | 2023-03-23 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Ron DeSantis called the Russia-Ukraine war a "territorial dispute" last week. When asked about the comment, DeSantis said Russia's invasion was "wrong" and Putin was a "war criminal." Ron DeSantis used some of his harshest words yet for Russian President Vladimir Putin and the invasion of Ukraine. DeSantis's comments come after he downplayed the US interest in the war, referring to it as a "territorial dispute" between Russia and Ukraine. When asked about his "territorial dispute" comment, DeSantis told Morgan his words had been "mischaracterized," adding that "obviously" Russia invaded last year, as well as Crimea in 2014, and was "wrong" to do so.

☆ Fusion is one of the only energy sources capable of massive decarbonization, Tokamak Energy chief says
▼ + stars: | 2023-03-22 | 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 EmailFusion is one of the only energy sources capable of massive decarbonization, Tokamak Energy chief saysChris Martin, chairman of Tokamak Energy, says that fusion power is one of the only large energy resources that is capable of massive decarbonization.

☆ Europe Moves to Revive Mining to Cut Reliance on China
▼ + stars: | 2023-03-18 | by ( Eric Sylvers | ) www.wsj.com time to read: 1 min

INSHEIM, Germany—Near the Rhine river in this part of western Germany, little indicates that beneath the picturesque villages, vineyards and rolling hills there lies enough lithium to make millions of batteries for electric vehicles. Vulcan Energy Resources Ltd., an Australian-German mining company, recently began extracting lithium from a mix of scalding water, minerals and metals almost 2 miles underground. The same hot brine has for years powered a geothermal electricity station, which Vulcan bought. The company has big expansion plans in the valley, backed by contracts to supply the auto industry.

☆ Russia’s economy is hurting despite Putin’s bluster
▼ + stars: | 2023-02-22 | by ( Julia Horowitz | ) edition.cnn.com time to read: +9 min

Russia’s economy did weaken as a result. “The Russian economy and system of government have turned out to be much stronger than the West believed,” Putin said in a speech to Russia’s parliament Tuesday. The bloc, which dramatically reduced its dependence on Russian natural gas last year, officially banned most imports of Russian crude oil by sea in December. Russia’s oil problemIn fact, Russia’s export revenue from oil rose last year. On the declineThe International Monetary Fund still expects Russia’s economy to expand by 0.3% this year and 2.1% the next.

☆ North Korea and Russia are ramping up trade in oil, coal and weapons as Ukraine war sanctions send Moscow to pariah state
▼ + stars: | 2023-02-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

A new CSIS report analyzed satellite imagery that suggests significantly increased trade between Russia and North Korea. Wartime sanctions have pushed Moscow to turn to railroad trade with Pyongyang, the researchers wrote. Trade between North Korea and Russia hit roughly $48 million in 2019, International Trade Centre data compiled by the Wall Street Journal shows. That dropped to nearly zero in 2021, with North Korea closing off its borders during the pandemic. Similarly, over recent years, Russia has sided with North Korea in geopolitical conversations over sanctions on the Kim Jong-un's regime.

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