In a stunning blow to global climate finance efforts, the Net-Zero Banking Alliance (NZBA)—the world’s largest climate coalition for financial institutions—has suspended its operations and is now polling remaining members on whether to dismantle its membership structure entirely. This development, announced on August 27, 2025, follows a mass exodus of major banks from Wall Street […]
In the early hours of August 28, 2025, Ukrainian forces launched a significant drone assault on multiple Russian oil refineries, marking yet another escalation in the ongoing conflict’s economic warfare. The attacks targeted the Kuibyshev refinery in Samara Oblast and the Afipsky refinery in Krasnodar Krai, with reports also indicating hits on the nearby Novokuibyshevsk […]
In a significant development for the European automotive and energy sectors, leading carmakers have declared that the European Union’s ambitious plan to ban combustion engine vehicles by 2035 is no longer realistic. This warning comes amid mounting challenges, including sluggish electric vehicle (EV) adoption, geopolitical tensions, and economic pressures that threaten the region’s auto industry […]
The artificial intelligence (AI) boom is reshaping industries, from healthcare to finance, but it’s also igniting an unprecedented surge in electricity demand. Data centers powering AI models like those from OpenAI and Google are consuming energy at rates not seen since the post-World War II era, with projections indicating a need for tens of gigawatts […]
So goes Germany’s economy, so goes the EU. Germany’s GDP contracted 0.2% in 2024, marking back-to-back recessions, with forecasts for zero growth in 2025 due to persistent structural issues and trade tensions. There is a real concern for German consumers about jobs and increased energy prices, and it seems like the Energiewende policy accelerated the […]
In the Bruce Willis movie, The Last Boy Scout, Bruce uses the line, ” The sky’s blue, water is wet, and women have secrets,” which does not really apply, but it would be fun seeing Chris Wright running around like Joe Hallenbeck, solving the crimes against consumers.” – The Trump administration is opposing wind power […]
Data source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO), August 2025 Note: Growth rates are compound annual growth rates for 2010 to 2019, 2020 to 2024, and 2024 to 2026. We use product supplied to estimate consumption. U.S. jet fuel consumption growth has slowed in 2025, following a period of rapid consumption growth after 2020, as U.S. air […]
US energy services firm Baker Hughes has secured a long-term service agreement award from UK-based energy giant BP for its Tangguh LNG plant in Papua Barat, Indonesia. According to a statement by Baker Hughes, this comprehensive 90-month agreement covers spare parts, repair services, and field service engineering support for critical turbomachinery at the facility including […]
Trafigura said this agreement “expects substantial volumes of LNG to be delivered to Kogas over the next decade.” The pricing index will be Henry Hub, the US natural gas benchmark. Trafigura said it will meet this commitment through its offtake agreements with LNG producers, including US LNG exporting giant Cheniere, and Trafigura’s global LNG portfolio. […]
The DOE LNG monthly report shows that US terminals shipped 62.1 Bcf to the Netherlands (15.3 percent), 45.7 Bcf to Germany (11.3 percent), 42.3 Bcf to Italy (10.4 percent), 27.3 Bcf to France (6.7 percent), and 25.6 Bcf to Egypt (6.3 percent) in June. These five countries took 50 percent of total US LNG exports […]
