Energy

US Government to Spend $1 Billion to Keep California Nuclear Plant Alive

Washington is saying ‘no’ for now to no-nukes in California. On Monday, the Biden administration announced it is giving a $1.1 billion grant to the Pacific Gas & Electric Company — the oft-beleaguered energy firm powering much of California —…

Crude Oil Prices Are Plummeting, but Gas Pump Prices Stay High

Gas prices, plastered in giant numbers on every third street corner and underpinning the shipping cost of just about everything, are perhaps the most visible victim of inflation. We see them with our eyes and feel them with our wallets,…

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Germany Prepares for Gas Rationing Amid Standoff With Russia

Vladimir Putin’s latest grandstanding on the international stage is leading Germany to brace for a potential swift end to trading with its largest energy supplier. The country’s economic affairs minister, Robert Habeck, triggered the first phase of an emergency law…

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Canada’s Vast Resources Have Made It the World’s Russia Alternative

They’re two of the world’s largest countries by land area, with harsh winter landscapes bordered by three oceans. They’re rich in oil, potash, uranium, and nickel. But only one has the delicious comfort food poutine, while the other is stuck…

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Big Oil Prospers Even As Investors Flock To Green Startups

Sometimes two seemingly contradictory ideas can both be true at once. Last year roughly 1,200 privately held sustainability startups raised a record $45 billion, according to Pitchbook, nearly doubling 2020’s total as part of a strengthening green wave. But the…

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Go Your Own Way: Icahn, Buffett, America, Europe Staking Out Oil Positions

Of all the economic chaos in the wake of Russia’s unprovoked attack on Ukraine, nothing’s moved markets like oil. That’s unsurprising, Russian exports account for 8% of the global oil supply. It has, however, led to some surprising moves by…

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This Week Proved a Lump of Coal is Still Good Business

Energy executives belatedly announced this week that they got a lump of coal in their stockings at the Christmas holiday. They couldn’t be happier. The largest coal mining companies in America — Peabody Energy and Arch Resources — reported their…

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New York Begins Construction On Offshore Wind Farm

On Friday, New York State broke ground on one of the biggest wind farms of its kind in the nation. Or, should we say, broke water? Roughly 35 miles east of Montauk Point, Long Island, South Fork Wind is billed…

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Energy Bills in the UK Will Rise a Cruel and Unusual 54% in April

An afternoon spot of tea might soon come with an afternoon spot of energy, as struggling Britons seek to ration power during the largest utility hike in memory. Energy bills in the UK are set to jump to the highest…

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Amazon Leads In Record Year For Corporate Clean Energy Purchases

These days, it’s no longer a question of whether corporations will purchase more and more clean energy every year. Now, it’s a question of how much. In 2021, global corporate purchases of clean power hit a record high for the…

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Wave Energy Projects Get $25 Million Funding Boost

You know about solar power. And wind power. And hydropower. Now, there’s a new field of potentially clean, reusable energy that’s— pardon the terrible pun— making waves. Yesterday, the Department of Energy announced it will dedicate $25 million in funding…

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Extra Credit: The Shifting World of Private Credit Markets

Tale of the Tape: Warren Buffett and Cathie Wood

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