China is moving fast to solve one of the biggest bottlenecks in the global AI race: powering data centers quickly and cheaply. According to state broadcaster CCTV, the country has just launched its first prefabricated computing power hub in the eastern city of Qingdao, Shandong province. This modular power solution promises to slash construction time […]
Illinois Governor JB Pritzker has joined Ohio Governor Mike DeWine in hitting the pause button on tax incentives for new data centers. On June 5, 2026, Pritzker directed the Illinois Department of Commerce and Economic Opportunity (DCEO) to stop processing new agreements under the Data Center Investment Program effective July 1. This move mirrors Ohio’s […]
The global oil tanker industry is riding an unprecedented wave of profits fueled by the ongoing Iran conflict, but shipowners are already bracing for a sharp reversal. According to a new Financial Times report, tanker owners are warning of a potential market crash if the Strait of Hormuz reopens or as broader market forces take […]
The U.S. naval blockade of Iran, enforced since mid-April 2026, is delivering a measurable blow to Tehran’s oil-dependent economy. Iranian crude and condensate exports have plummeted from nearly 2 million barrels per day (bpd) earlier this year to below 300,000 bpd in May, according to trade intelligence firm Kpler. At conservative Brent prices around $90 […]
Houston, TX – June 6, 2026 – U.S. oil-directed drilling rigs posted their sixth consecutive weekly gain this week—the longest upward streak in domestic exploration since mid-2022—pushing the Baker Hughes oil rig count to 431. The increase comes as higher crude prices, fueled by ongoing disruptions and geopolitical tensions in the Strait of Hormuz, continue […]
As the world grapples with the ongoing Strait of Hormuz crisis—triggered by the 2026 Iran conflict and resulting in the near-closure of a chokepoint carrying roughly 20% of global oil trade—energy security has never been more critical. North Dakota is positioning itself for a dramatic encore: a second Bakken boom powered by enhanced oil recovery […]
U.S. forces conducted a maritime interdiction and boarded the stateless supertanker MT Davina (also known as Lenore) overnight in the Indian Ocean, the Pentagon and U.S. Indo-Pacific Command (INDOPACOM) confirmed on June 5, 2026. The vessel, a very large crude carrier (VLCC) capable of carrying up to two million barrels of oil, was operating as […]
Kim Farrington, a candidate for the U.S. Senate in Virginia, stopped by the EnergyNews Beat Podcast to discuss her campaign strategy of listening to Virginia voters and addressing their concerns. Kim Farrington is a candidate for U.S. Senate in Virginia, running on an America First platform, and she stopped by the Energy News Beat podcast […]
In a major step forward for U.S. floating LNG technology, Delfin Midstream has reached a Final Investment Decision (FID) on its first FLNG project offshore Louisiana. The 4.4 million tonnes per annum (mtpa) facility will become the first floating liquefaction unit in the United States and the world’s largest FLNG vessel. Samsung Heavy Industries secured […]
Duke Energy President and CEO Harry Sideris delivered a clear message at the Edison Electric Institute convention in Las Vegas today: artificial intelligence and data centers are reshaping U.S. power demand at a pace never seen before. With 30 years at the company, Sideris noted that Duke has historically experienced annual load growth of just […]
