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☆ When Will Fusion Be Ready for Prime Time? Watch These Three Numbers
▼ + stars: | 2022-12-16 | by ( Josh Zumbrun | ) www.wsj.com time to read: 1 min

The U.S. Energy Department this past week announced a breakthrough in research on nuclear fusion, after a controlled reaction at the Lawrence Livermore National Laboratory produced more energy than it consumed. Fusion offers the potential for virtually limitless, clean energy. How long before this breakthrough can deliver on that promise? To get an idea, it’s helpful to know three simple numbers in the science and economics of fusion representing key “break-even points.”

☆ When Will Nuclear Fusion Energy Be Ready for Prime Time? Watch These Three Numbers
▼ + stars: | 2022-12-16 | by ( Josh Zumbrun | ) www.wsj.com time to read: 1 min

☆ U.S. begins buying back oil for strategic petroleum reserve -official
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +2 min

Companies TC Energy Corp FollowWASHINGTON, Dec 16 (Reuters) - The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile. The department will buy up to 3 million barrels for delivery in February, a senior official told reporters. The sale shrunk levels in the SPR to about 380 million barrels, their lowest since 1984, raising concerns about energy security. "We'll be releasing a solicitation to purchase 3 million barrels of oil for delivery in February of next year, 2023," the official said. Contracts will be awarded to energy companies by Jan. 13.

☆ U.S. begins buying back oil for strategic petroleum reserve
▼ + stars: | 2022-12-16 | by ( ) www.cnbc.com time to read: +2 min

The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile. The department will buy up to 3 million barrels for delivery in February, a senior official told reporters. The sale shrunk levels in the SPR to about 380 million barrels, their lowest since 1984, raising concerns about energy security. "We'll be releasing a solicitation to purchase 3 million barrels of oil for delivery in February of next year, 2023," the official said. "We are able to do that at the same time we're doing the 3 million barrel buy-back," the official said.

☆ Biden begins to refill Strategic Petroleum Reserve, while Keystone Pipeline leak prompts new emergency exchange
▼ + stars: | 2022-12-16 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

The new emergency exchange is aimed at addressing “potential supply disruptions” caused by the shutdown of the Keystone Pipeline due to a leak earlier this month, the Energy Department said. Unlike with emergency sales such as the record-setting release of 180 million barrels announced in March, this oil must be returned. “Small but a signal that pledges to refill are credible,” former Obama energy official Jason Bordoff said on Twitter in response to the new steps. Prices are currently in a “very useful” range to begin the process of refilling the SPR, the senior administration official said. Noting that gas prices are now at 15-month lows, the senior administration official said that historic release “helped provide some breathing room for American families at the pump,” the official said.

☆ Oil drops by over $2 per barrel, bogged down by recession fears
▼ + stars: | 2022-12-16 | by ( ) www.cnbc.com time to read: +2 min

Brent crude futures fell by $2.17, or 2.7% to $79.04 a barrel. U.S. West Texas Intermediate crude futures slipped $1.82, or 2.4%, to $74.29 a barrel. The U.S. Federal Reserve indicated it will raise interest rates further next year, even as the economy slips toward a possible recession. On Thursday, the Bank of England and the European Central Bank raised interest rates to fight inflation. However, while the Keystone outage is supportive for prices of heavier crude oil grades, it is "doing nothing" for lighter global benchmarks, such as WTI and Brent, said Matt Smith, lead oil analyst at Kpler.

☆ Bill Gates-Backed Startup Plans Large Solar Power Component Plant
▼ + stars: | 2022-12-15 | by ( Phred Dvorak | ) www.wsj.com time to read: 1 min

A startup backed by investors including Bill Gates is racing to build what could be the first silicon wafer factory for solar panels in the U.S., the latest example of the influence of recent legislation offering tax credits for green-energy projects. Silicon wafers are a key piece of the solar supply chain, and China controls 97% of it. There are currently no factories to make wafers for solar panels in the U.S., and the Energy Department has said building them should be a priority, since they could encourage faster development of other parts of the solar manufacturing industry as well.

☆ Nuclear Fusion Energy: What to Know About the Latest Scientific Breakthrough
▼ + stars: | 2022-12-14 | by ( Aylin Woodward | ) www.wsj.com time to read: 1 min

The Energy Department said Tuesday that scientists had achieved a breakthrough in research on nuclear fusion, bringing them one step closer to possibly changing the future of clean energy. Researchers at the Lawrence Livermore National Laboratory in Livermore, Calif., where the milestone known as fusion ignition was achieved, have been studying nuclear fusion for more than a decade. The broad appeal of nuclear fusion to researchers, as well as investors and companies, stems from its potential as a clean-energy alternative to sources that involve the burning of fossil fuels and the release of greenhouse gases.

☆ Bill Gates-backed reactor delayed on worries about fuel from Russia
▼ + stars: | 2022-12-14 | by ( Timothy Gardner | ) www.reuters.com time to read: +3 min

The fuel, called high assay low enriched uranium, or HALEU, is enriched up to 20%, much above the up to 5% level today's reactors use. "TerraPower is anticipating a minimum of a two-year delay to being able to bring the Natrium reactor into operation," he said. The Department of Energy (DOE) is looking to downblend some of its stockpile of weapons-grade uranium to help provide fuel for the reactor projects. Levesque said TerraPower will provide a schedule update next year when it knows more about HALEU supply including the availability of DOE material for downblending. Only one company outside Russia, U.S.-based Centrus Energy Corp (LEU.A) is licensed to produce the fuel but it is years away from making commercial amounts.

☆ History-making nonbinary government official is out of a job after theft accusations
▼ + stars: | 2022-12-13 | by ( Jo Yurcaba | Jo Yurcaba Is A Reporter For Nbc Out. | ) www.nbcnews.com time to read: +4 min

A department spokesperson confirmed Tuesday that Brinton is no longer the deputy assistant secretary of the Office of Spent Fuel and Waste Disposition but would not elaborate. “By law, the Department of Energy cannot comment further on personnel matters,” the spokesperson said in an email. NBC News has requested a copy of the warrant from the Las Vegas Metropolitan Police Department but has not received it yet. If convicted, Brinton could face five years in prison, a $10,000 fine or both, according to the complaint. Prior to joining the Energy Department, Brinton served as the vice president of advocacy and government affairs for The Trevor Project, a national LGBTQ youth suicide prevention and crisis intervention organization.

U.S. scientists have achieved “ignition” — a fusion reaction that produced more energy than it took to create — a critical milestone for nuclear fusion and a step forward in the pursuit of a nearly limitless source of clean energy, Energy Department officials said Tuesday. The process imploded a tiny capsule inside the hohlraum that is filled with deuterium and tritium, creating a fusion reaction. Lawrence Livermore National Laboratory"We have taken the first tentative steps toward a clean energy source," said Jill Hruby, the Energy Department's National Nuclear Security Administration. The Inflation Reduction Act provided millions in new funding for fusion projects and the White House this year convened the first fusion summit and developed a 10-year plan to commercialize fusion technology. A technician reviews an optic inside the preamplifier support structure at the Lawrence Livermore National Laboratory in Livermore, Calif., in 2012.

☆ Nuclear-Fusion Breakthrough Accelerates Quest to Unlock Limitless Energy Source
▼ + stars: | 2022-12-13 | by ( Aylin Woodward | Jennifer Hiller | ) www.wsj.com time to read: 1 min

The Energy Department said Tuesday that scientists at a federal research facility had achieved a breakthrough in research on nuclear fusion, long seen as a potential source of clean, virtually limitless energy. A controlled fusion reaction at Lawrence Livermore National Laboratory in Livermore, Calif., produced more energy than it consumed, Energy Secretary Jennifer Granholm and other government officials said during a press conference from DOE headquarters in Washington, D.C.

CNN —The Department of Energy official responsible for nuclear fuel and radioactive waste is no longer employed by the federal agency after two alleged airport baggage theft incidents, according to local reports and court records. Sam Brinton, the former deputy assistant secretary for spent fuel and waste disposition in the Office of Nuclear Energy, was charged in December for grand larceny in Nevada. Brinton was accused of stealing luggage from Harry Reid International Airport, according to a report from KLAS. By law, the Department of Energy cannot comment further on personnel matters,” a department spokesperson said. Prior to joining the Department of Energy, Brinton served in roles at several think tanks, including the Bipartisan Policy Center, the Breakthrough Institute and Third Way.

☆ UAW union president optimistic on quick contract with GM-LG battery venture
▼ + stars: | 2022-12-12 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 12 (Reuters) - United Auto Workers (UAW) President Ray Curry said Monday he is optimistic the union can quickly reach a contract deal with a General Motors (GM.N), LG Energy Solution (373220.KS) battery cell joint venture factory. The Detroit Three automakers all have battery plants in the works with South Korean partners and Ultium is building two other U.S. battery plants in Tennessee and Michigan. He said it would be "premature" to say how a deal with the union would affect labor costs or business structure. Ultium is building a $2.6 billion plant in Michigan, set to open in 2024. This month, Ultium said it would boost its planned investment in a $2.3 billion Tennessee plant by $275 million.

☆ U.S. finalizes $2.5 billion loan to GM, LG battery joint venture
▼ + stars: | 2022-12-12 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Reuters first reported in July the planned loan to Ultium Cells LLC from the government's Advanced Technology Vehicles Manufacturing (ATVM) loan program. Last week, workers at the $2.3 billion Ultium plant in Ohio voted to join the UAW, a win for the union, which is seeking to organize the growing EV supply chain. GM and LG Energy are considering an Indiana site for a fourth U.S. battery plant. The Energy Department said the $3 billion would provide an estimated $40 billion in additional loan authority for a total estimated available authority under ATVM of about $55.1 billion before the Ultium loan. The ATVM loan program in July closed on a $102.1 million loan to Syrah Technologies LLC (SYR.AX) for expansion of a facility producing a key component for batteries.

☆ Ohio workers vote to unionize GM, LG battery plant
▼ + stars: | 2022-12-09 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The Detroit Three automakers all have battery plants in the works with South Korean partners. The UAW petitioned in October to represent about 900 workers at the Ohio plant after a majority of employees signed cards authorizing the union to represent them. Production began in August at the Ohio plant, the first of at least four planned Ultium U.S. battery factories. GM and LG Energy are considering an Indiana site for a fourth U.S. battery plant. Last week, GM Chief Executive Mary Barra expressed support for unionizing the Ohio plant.

The recent attack on two North Carolina substations that cut power to thousands of people has raised concerns about security standards for the country’s electric grid and its numerous power stations, which have faced greater threats in recent years. Nearly 600 electric emergency incidents and disturbances were caused by suspected and confirmed physical attacks and vandalism on the electric grid in those nine years, the reports show. The incidents, which are self-reported by power companies to the federal government, provide little to no detail about what occurred. Paths forward for a new standardThose who want a new security standard said there remain significant bureaucratic headwinds against such a proposal. The North American Electric Reliability Corporation, a nonprofit originally created by the electricity industry, said it created security requirements based on risk, rather than a one-size-fits-all approach.

☆ Republican lawmakers criticize U.S. grant to battery company with China ties
▼ + stars: | 2022-12-07 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Kevin Lamarque/File PhotoWASHINGTON, Dec 7 (Reuters) - Two senior Republican lawmakers on Wednesday were highly critical of the decision by the U.S. Energy Department to award $200 million to Microvast Holdings (MVST.O) over the lithium battery company's ties to the Chinese government. In October, Texas-based Microvast won a $20 million U.S. grant from the department to help build a new EV battery components plant in Tennessee. Representative Frank Lucas, top Republican on the House Science Committee, said nearly 80% of Microvast’sassets are in China and 61% of its revenue in 2021 originated in China. In November, Microvast and General Motors (GM.N)said they would work together "to develop specialized EV battery separator technology and build a new separator plant in the U.S., which is expected to create hundreds of new jobs." Over 200 companies applied for $2.8 billion in Energy Department grants and 20 received awards.

U.S. shale production costs are soaring and there is no sign that tight-fisted investors will change their demands for returns rather than investment in expanding drilling. At Helmerich & Payne (HP.N), one of the largest drilling contractors, its R&D budget will rise only $1 million, from 2022's $27 million. The U.S. government expects overall oil production to reach a new peak next year, but it has several times this year cut its forecasts. Shale production declines rapidly after peaking compared to conventional oil wells, falling about 50% after the first year. Lower production rates are "a longer-term prospect," said Mike Oestmann, chief executive of shale producer Tall City Exploration.

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☆ White House to ask oil and gas execs to support Ukraine energy infrastructure
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Roman Baluk/File PhotoDec 5 (Reuters) - The Biden administration is convening a virtual meeting on Thursday with oil and gas executives to discuss how the United States can support Ukrainian energy infrastructure, according to a letter seen by Reuters. The meeting comes as Russia seeks to cut off Ukraine’s energy supplies and destroy infrastructure as winter approaches with missile attacks. "As you know Ukrainian energy assets are being aggressively targeted in an effort to take advantage of the winter's coldest temperatures and harshest weather conditions. Together, we can help to boost Ukrainian resilience," wrote David Turk, U.S. deputy secretary of energy, in a letter to oil and gas executives. It involves members of the Oil and Natural Gas Sector Coordinating Council, which includes 26 trade associations.

☆ GM, LG joint venture to invest $275 million in Tennessee battery cell plant
▼ + stars: | 2022-12-02 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 2 (Reuters) - General Motors Co (GM.N) and LG Energy Solution Ltd (373220.KS) said Friday they are investing another $275 million in their Tennessee joint venture battery cell plant to increase production by more than 40%. It is one of at least four U.S. joint venture battery plants planned to supply GM electric vehicles as the largest U.S. automaker ramps up production. The first Ultium joint venture plant in Warren, Ohio began production in August. GM and LG Energy are also considering an Indiana site for a fourth U.S. battery plant expected to cost around $2.4 billion. They are also building a $2.6 billion battery cell plant in Lansing, Michigan, set to open in 2024.

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☆ U.S. plans to boost purchases of Native goods, revitalize tribal languages
▼ + stars: | 2022-11-30 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 30 (Reuters) - The Biden administration will announce new actions on Wednesday to give Native American tribes more say in managing federal lands, boost purchases of tribal energy and other goods and services, and revitalize Native languages, the White House said. U.S. President Joe Biden and other Cabinet officials will announce the measures at this year's two-day Tribal Nations Summit, with additional steps focused on providing better access to capital for tribal nations, the White House said. Biden's three signature piece of legislation - laws dealing with infrastructure, climate and COVID-19 relief - have provided nearly $46 billion in funding for tribal communities and Native American people, the White House said. The Small Business Administration will announce plans to boost access to financing opportunities, while the Energy Department plans to increase federal agencies’ use of tribal energy through purchasing authority established under a 2005 law unused for more than 17 years. The government will also release of a draft 10-year plan to revitalize Native American languages and underscores the urgency for immediate action, while formally recognizing the role that the U.S. government played in erasing Native languages.

☆ Biden grants PG&E $1.1 billion to keep Diablo Canyon nuclear plant open
▼ + stars: | 2022-11-21 | by ( Emma Newburger | ) www.cnbc.com time to read: +2 min

The Biden administration on Monday said it's providing Pacific Gas & Electric Co. with a $1.1 billion grant to help the company prevent the closure of Diablo Canyon, California's last nuclear power plant. Diablo Canyon was originally scheduled to be decommissioned in two phases in 2024 and 2025, but state lawmakers in September voted to keep it open for five more years. PG&E applied for funding in the Department of Energy's initial phase of the $6 billion Civil Nuclear Credit program aimed to keep U.S. nuclear power reactors open. Diablo Canyon is California's single largest source of power, providing 8.6% of the state's total electricity and 17% of its zero-carbon electricity. Final terms of the grant are subject to negotiation and finalization, the Energy Department said, but the funding is designed to cover PG&E's anticipated losses from keeping Diablo Canyon open.

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☆ The big new Exxon Mobil climate change deal that got an assist from Joe Biden
▼ + stars: | 2022-11-19 | by ( Tim Mullaney | ) www.cnbc.com time to read: +7 min

The law may help oil companies like ExxonMobil build profitable businesses to replace some of the revenue and profit they'll lose as EVs proliferate. Maybe, if carbon capture and storage is indeed as big a deal as ExxonMobil's first-of-its-kind deal to extract, transport and store carbon from other companies' factories implies. Could it be that Big Oil's next big thing got a big assist from Joe Biden? An industrial facility on the Houston Ship Channel where Exxon Mobil is proposing a carbon capture and sequestration network. And big oil and gas companies are where the expertise is."

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