WASHINGTON—Today, President Trump signed several key executive orders to usher in a nuclear renaissance and restore America’s gold standard in science and innovation, directing the Department of Energy to take a leading role in unleashing the American nuclear renaissance. President Trump is taking decisive action to strengthen scientific discovery in America, rebuild public trust in science, and accelerate advanced nuclear technologies. After decades of stagnation and shuttered reactors, President Trump is providing a path forward for nuclear innovation. Today’s executive orders allow for reactor design testing at the Department of Energy’s (DOE) National Labs, clear the way for construction on federal lands to protect national and economic security, and remove regulatory barriers by requiring the Nuclear Regulatory Commission to issue timely licensing decisions. “For too long, America’s nuclear energy industry has been stymied by red tape and outdated government policies, but thanks to President Trump, the American nuclear renaissance is finally here,”Energy Secretary Chris Wright said. “With the emergence of AI and President Trump’s pro-American manufacturing policies at work, American civil nuclear energy is being unleashed at the perfect time. Nuclear has the potential to be America’s greatest source of energy addition. It works whether the wind is blowing, or the sun is shining, is possible anywhere and at different scales. President Trump’s executive orders today unshackle our civil nuclear energy industry and ensure it can meet this critical moment.” “Over the last 30 years, we stopped building nuclear reactors in America – that ends now. Today’s executive orders are the most significant nuclear regulatory reform actions taken in decades. We are restoring a strong American nuclear industrial base, rebuilding a secure and sovereign domestic nuclear fuel supply chain, and leading the world towards a future fueled by American nuclear energy. These actions are critical to American energy independence and

WASHINGTON— U.S. Secretary of Energy Chris Wright issued an emergency order today to minimize the risk of blackouts and address critical grid security issues in the Midwestern region of the United States ahead of the high electricity demand expected this summer. Secretary Wright’s order directs the Midcontinent Independent System Operator (MISO), in coordination with Consumers Energy, to ensure that the 1,560 megawatt (MW) J.H. Campbell coal-fired power plant in West Olive, Michigan remains available for operation, minimizing any potential capacity shortfall that could lead to unnecessary power outages. The Campbell Plant was scheduled to shut down on May 31, which is 15 years before the end of its scheduled design life. “Today’s emergency order ensures that Michiganders and the greater Midwest region do not lose critical power generation capability as summer begins and electricity demand regularly reach high levels,” Secretary Wright said. “This administration will not sit back and allow dangerous energy subtraction policies threaten the resiliency of our grid and raise electricity prices on American families. With President Trump’s leadership, the Energy Department is hard at work securing the American people access to affordable, reliable, and secure energy that powers their lives regardless of whether the wind is blowing, or the sun is shining.” The emergency order, which is issued by the Office of Cybersecurity, Energy Security, and Emergency Response (CESER), is authorized by Section 202(c) of the Federal Power Act and is in accordance with President Trump’s Executive Order: Declaring a National Energy Emergency. It will ensure the power generation availability in the region does not dip below 2024 capacity levels. BACKGROUND: Heading into the summer months, the North American Electric Reliability Corporation (NERC) has warned the region served by MISO “is at elevated risk of operating reserve shortfalls during periods of high demand,” particularly during the summer

Oil drifted higher in thin pre-holiday trading as investors’ conviction that the US and Iran can reach a nuclear deal waned while strong US data buoyed a shaky demand picture. West Texas Intermediate edged up by 0.5% to settle above $61 a barrel, with volumes trending lower ahead of Monday’s Memorial Day holiday. The US and Iran concluded a fifth round of nuclear talks in Rome that yielded “some but not conclusive progress,” according to Iranian Foreign Minister Abbas Araghchi. A wrong turn in the negotiations, which have spurred criticism from several high-ranking Iranian officials, may lead to tighter sanctions, crimping flows from the OPEC member. Meanwhile, strong US economic data helped erase an earlier rout of nearly 2% after President Donald Trump said in a social media post that the European Union had been “very difficult to deal with” and that he would recommend a 50% tariff to be imposed on the bloc on June 1. The US dollar slumped to its lowest level since 2023, making commodities priced in the currency more attractive. Geopolitics have been a major focus for traders this week, with a report from CNN that US intelligence suggested Israel was making preparations to strike Iranian nuclear facilities driving brief gains earlier in the week. After that, Araghchi, Iran’s lead negotiator in talks with the US, said a deal was possible that would entail Tehran avoiding nuclear weapons, but not ditching uranium enrichment. Still, the outlook remains overall bearish. Crude has shed about 14% this year, hitting the lowest since 2021 last month, as OPEC+ loosened supply curbs at a faster-than-expected pace, just as the US-led tariff war posed headwinds for demand. Prices had recovered some ground as trade tensions between the US and China eased, but data this week also showed another increase in

Polish Prime Minister Donald Tusk warned on Thursday that the Baltic Sea is becoming “a new area of confrontation” with Russia, putting the country’s critical infrastructure increasingly at risk. His warning comes a day after Polish authorities said a sanctioned Russian ship was performing “suspicious maneuvers” near the power cable connecting Poland and Sweden. The tanker left for an unspecified Russian port after the Polish armed forces intervened, they said. The undersea power link was not damaged, but Poland is checking whether any explosive devices were planted, the prime minister said after meeting top navy commanders. The Baltic Sea has become a flashpoint in recent months after the detention of several vessels on suspicion of tearing up undersea telecommunications cables. Baltic nations have also increased scrutiny of unregistered tankers due to concerns about sanctioned Russian oil, saying that Moscow’s so-called ‘shadow fleet’ could lead to security breaches and environmental risks. Since Russia’s full-scale invasion of Ukraine there have been “too many incidents” in the Baltic Sea for Poland to take maritime security lightly, Tusk said at a meeting with Polish naval commanders in the coastal city of Gdynia on Thursday.  The risks are keenly felt in Poland, which shares a border with Russia’s ally Belarus and exclave of Kaliningrad, home to a naval base at Baltiysk. On Wednesday, Russia declared that it would defend its vessels in the Baltic Sea, one of the world’s busiest shipping routes, by all legal means after briefly deploying a fighter jet as Estonia tried to halt an oil tanker in its economic zone. In recent years, Poland has expanded its energy infrastructure to wean itself off Russian supplies. It has constructed a gas link to Norway, a liquefied natural gas import terminal as well as expanded port capacities to handle growing flows of goods and military aid to neighboring Ukraine. 

Mitsui O.S.K. Lines, owner of the world’s largest fleet of liquefied natural gas carriers, said it is hard to buy Chinese vessels for the time being as the US ramps up scrutiny of the Asian country’s shipbuilding industry. “It is difficult to purchase Chinese vessels under the current circumstances, because of the port entry fees” that the US is proposing for China-built ships calling at its ports, a spokesperson for the Japanese firm said. Earlier on Friday, the Nikkei reported Mitsui O.S.K. was planning to shift new orders from China to South Korea. But the plans have not yet been finalized, the spokesperson told Bloomberg News. The Japanese firm is aiming to reduce risks, according to remarks made by President and Chief Executive Officer Takeshi Hashimoto during an interview.  “We will wait and see about new business with the Chinese,” Hashimoto said in the report, which added that Mitsui O.S.K. will not cancel any existing contracts with Chinese yards. Washington has issued a flurry of measures under President Donald Trump’s administration aimed at curbing China’s maritime dominance and reviving its own flagging shipbuilding industry. The moves have shaken up the global shipping market, prompting shipowners to rethink where they want their vessels to be built in the future. South Korean shipbuilders have sensed an opportunity. Last week, major shipbuilders HD Hyundai Co. and Hanwha Ocean Co. offered to help the US improve its shipbuilding capacity and restore its maritime dominance. South Korean builders have an 18% share of ships under construction worldwide in deadweight tons terms, while the Japanese have 11%, according to data from Clarksons Research. Mitsui O.S.K. owns a fleet of 97 LNG vessels, according to a 2024 corporate presentation. It also maintains the world’s second-largest merchant fleet at 873 vessels.  Chinese shipyards make up two-thirds of the global orderbook. In

President Donald Trump has said there is North Sea oil to last 100 years with the Granite City as its hub. A message posted on his site Truth Social also took aim at “unsightly windmills” – long a bugbear for Trump since he opposed the development of the Aberdeen Bay wind farm which can be seen from his golf course on the Menie Estate. The US president urged Sir Keir Starmer’s Labour government to support “modernised drilling” in the North Sea which would cut the cost of energy. Mr Trump said “large amounts of oil lay waiting to be taken” as he promoted the White House’s trade agreement with Britain. “Our negotiated deal with the United Kingdom is working out well for all,” he said. “I strongly recommend to them, however, that in order to get their energy costs down, they stop with the costly and unsightly windmills, and incentivise modernized drilling in the North Sea, where large amounts of oil lay waiting to be taken. He added on his own social media site: “A century of drilling left, with Aberdeen as the hub. “The old fashioned tax system disincentivises drilling, rather than the opposite. “UK’s energy costs would go way down, and fast!” The president’s intervention came as the UK regulator Ofgem announced the first cut in the energy price cap for year which will reduce energy costs from July. However, prices still remain high and cost of energy for households and business has often been cited as major disincentive for investment and growth. It is not the first time he has weighed in on the North Sea since becoming 45th president. In January, he claimed the UK was making a “big mistake” in its energy policies, sharing a story about US oil and gas firm APA – previously