Environment

Oil prices could climb higher despite the U.S. and other major consumers releasing millions of barrels of oil from their reserves to try to keep energy prices down, one analyst told CNBC. “It’s not going to work simply because the strategic petroleum reserve — any country’s strategic petroleum reserve is not there to try to

Working oil pumps against a sunset sky. Imaginima | E+ | Getty Images Oil prices tumbled to the lowest level in more than two months Friday as the new Covid-19 strain sparked fears about a demand slowdown just as supply increases. The leg lower came amid a broad sell-off in the market with Dow futures

An oil well pump jack operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021. David Paul Morris | Bloomberg | Getty Images The Biden administration on Friday proposed reforms to the country’s oil and gas leasing program that would raise costs for energy companies to drill on public lands and

Petroleum pump jacks are pictured in the Kern River oil field in Bakersfield, California. Jonathan Alcorn | Reuters The head of the world’s leading energy authority has said that some countries had failed to adopt a helpful position to calm soaring oil and gas prices, criticizing “artificial tightness” in energy markets. “[A] factor I would

In this article ENEL-IT The CEO of multinational Italian energy firm Enel has expressed doubt on the usefulness of carbon capture and storage, suggesting the technology is not a climate solution. “We have tried and tried — and when I say ‘we’, I mean the electricity industry,” Francesco Starace told CNBC’s Karen Tso on Wednesday. “You can imagine,

Oil wells pumping outside of Midland Texas. Joe Sohm | Visions of America | Universal Images Group | Getty Images The Biden administration’s decision to release oil from U.S. reserves is a “mistake,” former U.S. Energy Secretary Dan Brouillette told on Wednesday. “I do think it’s a bad policy choice. There’s no question about that,”

In this article ENI-IT EQNR-NO RDSA-GB mcKensa | iStock | Getty Images Shell said Wednesday it had signed a deal to purchase power from a development dubbed “the world’s largest offshore wind farm.” The 15-year power purchase agreement relates to 240 megawatts from Dogger Bank C, the third and final phase of the 3.6 gigawatt

President Joe Biden said Tuesday that the administration will tap the Strategic Petroleum Reserve as part of a global effort from energy-consuming nations to calm 2021’s rapid rise in fuel prices. The coordinated release between the U.S., India, China, Japan, Republic of Korea and the United Kingdom is the first such move of its kind.

In this article GE SGRE-ES HOL.N-CH GS VOW3-DE A wind turbine blade manufactured by LM Wind Power arrives at the Offshore Renewable Energy Catapult in Blyth, England, on August 15, 2019. Tom White | Getty Images News | Getty Images GE’s renewable energy unit said Tuesday it would manufacture zero waste wind turbine blades by

Many people expect electric vehicles to be fixtures in a future world that relies on renewable energy. But not many EV companies started out as renewable energy companies. One company trying to pull off that feat is Bangkok-based Energy Absolute. The biodiesel producer and renewable energy company branched into the commercial EV business in 2019.

In this article GM F 7203.T-JP VOW3-DE A charging cable plugged into a Volvo electric vehicle in London on November 18, 2020. TOLGA AKMEN | AFP | Getty Images New homes in England will be required to have charging points for electric vehicles, according to plans announced by authorities in the U.K. “We’re regulating so

Long-term market bull Jeremy Siegel expects a serious pullback that it isn’t tied to the Covid-19 surge risks. His tipping point: a drastic change in Federal Reserve policy in order to deal with hot inflation. “If the Fed suddenly gets tougher, I’m not sure that the market is going to be ready for a U-turn

In this article GE IBE-ES AGR This photograph, taken on June 13, 2017, shows the Block Island Wind Farm, Rhode Island. David L. Ryan | Boston Globe | Getty Images Ground has been broken on a project dubbed the United States’ “first commercial scale offshore wind farm.” The construction’s kickoff, which took place on Thursday,

President Joe Biden speaks during a visit to the General Motors Factory ZERO electric vehicle assembly plant, Wednesday, Nov. 17, 2021, in Detroit. Evan Vucci | AP DETROIT – Now that President Joe Biden‘s $1 trillion infrastructure bill is law, Democrats are setting their sights on his Build Back Better Act to further advance the

Byron, UNITED STATES: The Exelon Byron Nuclear Generating Stations running at full capacity 14 May, 2007 in Byron, Illinois, is one of 17 nuclear reactors at 10 sites in three US states, is the nation’s largest operator of commercial nuclear power plants and third largest in the world. In the US, nuclear operators have focused

In this article RY4C-IE AIR-FR BMW-DE RR.-GB Rolls-Royce’s all-electric Spirit of Innovation takes to the skies for the first time. Courtesy: Rolls-Royce Rolls-Royce said Friday its electric aircraft had reached a maximum speed of 623 kilometers per hour (a little over 387 miles per hour), with the firm claiming this made the airplane the “world’s

Oil pumping jacks, also known as “nodding donkeys”in a Rosneft Oil Co. oilfield near Sokolovka village, in the Udmurt Republic, Russia, on Friday, Nov. 20, 2020. Bloomberg | Bloomberg | Getty Images Oil prices fell to a six-week low on Friday as new Covid lockdowns sparked demand concerns just as industry players signal a return

In this article JNJ GE MORN Cincinnati – Circa September 2021: General Electric Global Operations Center. jetcityimage | iStock Editorial | Getty Images Two major companies — General Electric and Johnson & Johnson — announced this month that they’ll be splitting up into multiple entities. GE, priced at around $102 a share on Wednesday, will

Kemmerer, Wyoming, is a frontier coal town. It was organized in 1897 by coal miners and still employs people in the coal and natural gas industries today. Photo courtesy TerraPower TerraPower, a start-up co-founded by Bill Gates to revolutionize designs for nuclear reactors, has picked Kemmerer, Wyoming, as the preferred location for its first demonstration

It may be evidence inflation is meaningfully stretching budgets. According to economic forecaster Lakshman Achuthan, Wall Street is ignoring a striking consumer spending slowdown that will translate into an underwhelming holiday season. “There’s still this narrative that the rebound is there,” the Economic Cycle Research Institute co-founder told CNBC’s “Trading Nation” on Wednesday. “The hope