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Newsom signs 1 bill to speed geothermal approvals, vetoes another

Gov. Gavin Newsom, D-Calif., signed into law Monday a bill that will expand the California Energy Commission’s streamlined certification program to allow it to speed approvals for geothermal energy, but he vetoed a bill to speed approvals of well-drilling for geothermal exploratory projects. “In addition to delaying much-needed regulations that are already in process, the [Geologic Energy Management] Division would need to substantially increase fees on geothermal operators to implement the new requirements imposed by the bill,” Newsom wrote in his veto message for the second bill, AB527. Newsom said in the message that while he supports the expansion of geothermal energy in California “as a much-needed source of baseload clean power,” he thinks that the increased fees would disincentivize geothermal development “beyond any incentive provided by a [California Environmental Quality Act] exemption for one part of a project’s permitting process.” The governor also noted that he signed AB1359 last year, which reformed the approval process for geothermal exploration, and he thinks it is “prudent that we understand the effects of these changes before granting wholesale CEQA exemptions with costly and complicated conditions.” AB527 would have allowed geothermal exploratory projects that GEMD deems to meet certain criteria to also be presumed to “have satisfied the requirements of CEQA for the geothermal exploratory project, including to support the issuance of any permit, funding, or other approval by a state or local agency, as provided.” AB531, which Newsom signed, makes geothermal projects one of the types of projects that — once the state Energy Commission certifies them as an “environmental leadership development project” — can benefit from a streamlined approval process under CEQA. The other projects that can receive that certification are solar or wind farms generating 50 MW or more, energy storage systems capable of storing 200 MWh or more, power plants 50 MW or

Read More »

Citigroup Flags Oil Market’s Bearish Consensus

The broad mood in the oil market remains bearish, although there are discrepancies as to how gloomy crude’s prospects are, according to Citigroup Inc., summarizing views from clients in North America and Europe. “Conviction differs on the depth of downside,” analysts including Francesco Martoccia said in a note. “Some clients doubt that a price floor at $60 a barrel for Brent crude oil would be enough to induce a supply-and-demand reaction to balance a global liquids market generally seen heading for a surplus.” Oil prices have shed more than 10% this year, with global benchmark Brent posting back-to-back monthly losses in August and September. The weakness has been driven largely by expectations that supplies will run ahead of demand as OPEC+ loosens output curbs and rival drillers also step up production. Still, stockpiling by China has acted to support the market, with inventory builds so far seen concentrated away from the market’s main pricing centers. “Other clients expect a more moderate, orderly price correction, arguing that projected stock builds could continue to accumulate outside of key pricing hubs, certainly ex-Cushing,” the analysts said, referring to the storage hub in Oklahoma that’s the physical delivery point for West Texas Intermediate. The Organization of the Petroleum Exporting Countries and its allies endorsed another quota hike last weekend, although the increment — 137,000 barrels a day for November’s production — was smaller than some of the sums that had been reported in the run-up to the gathering. “Today’s slower non-OPEC+ growth and greater OPEC+ optionality, along with heightened geopolitical risks looming on large producers” such as Russia and Iran, could temper the pace of price adjustment, the analysts said. Brent futures — which tumbled 8% last week ahead of the OPEC+ supply decision — traded slightly lower at $65.80 a barrel on Thursday. “Within the energy complex, consensus

Read More »

USA Crude Oil Stocks Rise by Almost 4 Million Barrels WoW

U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 3.7 million barrels from the week ending September 26 to the week ending October 3, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. That report, which was released on October 8 and included data for the week ending October 3, showed that crude oil stocks, not including the SPR, stood at 420.3 million barrels on October 3, 416.5 million barrels on September 26, and 422.7 million barrels on October 4, 2024. The report highlighted that data may not add up to totals due to independent rounding. Crude oil in the SPR stood at 407.0 million barrels on October 3, 406.7 million barrels on September 26, and 382.9 million barrels on October 4, 2024, the report revealed. Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.694 billion barrels on October 3, the report highlighted. Total petroleum stocks were down 0.9 million barrels week on week and up 52.2 million barrels year on year, the report showed. “At 420.3 million barrels, U.S. crude oil inventories are about four percent below the five year average for this time of year,” the EIA said in its latest weekly petroleum status report. “Total motor gasoline inventories decreased by 1.6 million barrels from last week and are about one percent below the five year average for this time of year. Finished gasoline inventories increased, while blending components inventories decreased last week,” it added. “Distillate fuel inventories decreased by 2.0 million barrels last week and are about six percent below the five year average for this time of year. Propane/propylene inventories decreased by 2.9 million

Read More »

Grid planners and experts on why markets keep choosing renewables

Listen to the article 11 min This audio is auto-generated. Please let us know if you have feedback. As electricity demand grows, alongside wind and solar’s share in the U.S. energy mix, concerns about renewables’ reliability are being raised more frequently — including at the highest levels of the federal government. “With the electricity grid, you have to match supply and demand in every moment in time,” Energy Secretary Chris Wright said recently on Fox News. “With wind and solar, you don’t know when they’re going to be there, and you don’t know when they’re going to go away.” Wright went on to say the development of renewables has led to an “extra distribution grid” that has raised energy prices.  But utility planners, grid operators and analysts say wind, solar and batteries are an important part of an evolving power system in which intermittent resources can be reliably scheduled and called upon using sophisticated software and other tools. They also point to both the levelized cost of electricity for renewables and their competitiveness in automated energy markets that select the least cost units to run in each hour. “System operators don’t decide whether resources bidding into the market are good or bad,” said Rob Gramlich, president of energy sector consultant Grid Strategies, in an interview. “There is no central decision maker,” he said. “Markets don’t play favorites.” ERCOT’s multi-resource price-selected portfolio for August 20, 2025, at 5:50 PM CDT ERCOT “dashboard” [jpg]. Retrieved from dashboard. With generators retiring, demand rising, and construction, financing, permitting and supply chain challenges growing, operators and analysts acknowledged concerns over the future of the U.S. power system. Many called for diversification of resources, including renewables and storage, to protect electricity reliability and affordability. “The objective of planning is a portfolio of diverse resources at the least cost

Read More »

Investor-owned utilities could spend $1.1T between 2025 and 2029: EEI

Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Electric utilities are on pace to spend nearly $208 billion on grid upgrades and expansions this year, the highest amount ever, the Edison Electric Institute said Tuesday. The group represents investor-owned utilities. And more growth in capital expenditures is on the way, as the sector rushes to meet growing demand, according to EEI’s 2024 financial review. The group’s members are projected to make capital expenditures of more than $1.1 trillion between 2025 and 2029. U.S electricity generation rose 3% in 2024 “and is expected to rise for the foreseeable future,” EEI said. Generation investments as a share of the industry’s total capital expenditures have risen for four straight years, it said. Dive Insight: After years of relatively stagnant growth, the electric sector is moving quickly to meet new demand from AI data centers, industrial expansion, electrification and other sources. The U.S. generated 4.3 million GWh in 2024, “the largest annual jump in five years,” EEI said. The group anticipates an annual growth rate of 1.7% through 2040, when domestic generation could surpass 5.4 million GWh.     Meeting the new demand requires significant grid investments. IOU capital expenditures grew more than 16% from 2024 to 2025, based on anticipated investments, EEI said. Permission granted by Edison Electric Institute “Our capital expenditures are higher than any other sector in the U.S. economy, outpacing transportation, retail, and other capital-intensive industries,” EEI President and CEO Drew Maloney wrote in a letter accompanying the report. “As always, we remain committed to keeping customer bills as low as possible as we work to deliver the reliable, secure electricity that is enabling innovation and enhancing the energy leadership of the United States.”   But some experts say retail consumers are footing the bill

Read More »

To keep energy affordable, Virginia must embrace power line innovation

Jeff Dennis is executive director of the Electricity Customers Alliance, a coalition that advocates for customer-centric solutions to grid modernization and energy affordability challenges. A modern economy requires modern energy solutions to meet the growing energy demand created by reshored manufacturing, increased electrification of homes, businesses, and vehicles, and — of course — data centers. Virginia and the Mid-Atlantic house the data center capital of the Western world, and the Commonwealth is positioned to lead America’s push to win the global artificial intelligence race. Data center growth can deliver many economic benefits to communities. However, this increased electricity demand requires smartly planned power infrastructure and a focus on short- and long-term solutions to address consumers’ concerns about their power bills. Planning and building electricity infrastructure to meet rapidly growing demand while keeping electricity affordable for all consumers will take time. However, data centers and manufacturers need power now to win the AI race and capture new economic opportunities in manufacturing and the digital economy. Virginia must capitalize on short-term opportunities to expand and maximize the use of our existing grid assets to deliver more power while setting the foundation for smart, long-term buildout of our shared electricity grid. To address this challenge, the General Assembly passed, and Gov. Glenn Youngkin signed, legislation to encourage deployment of advanced transmission technologies that maximize the amount of power that can be delivered from our existing lines. Beginning in 2026, the legislation requires the State Corporation Commission to consider the use of new power line technologies called “advanced conductors” when deciding how to bring more power supply onto the grid. Many other Mid-Atlantic states have followed Virginia’s lead in encouraging adoption of these technologies to help meet our needs today while establishing a foundation for an efficient future electricity system. That’s great news for consumers —

Read More »

Newsom signs 1 bill to speed geothermal approvals, vetoes another

Gov. Gavin Newsom, D-Calif., signed into law Monday a bill that will expand the California Energy Commission’s streamlined certification program to allow it to speed approvals for geothermal energy, but he vetoed a bill to speed approvals of well-drilling for geothermal exploratory projects. “In addition to delaying much-needed regulations that are already in process, the [Geologic Energy Management] Division would need to substantially increase fees on geothermal operators to implement the new requirements imposed by the bill,” Newsom wrote in his veto message for the second bill, AB527. Newsom said in the message that while he supports the expansion of geothermal energy in California “as a much-needed source of baseload clean power,” he thinks that the increased fees would disincentivize geothermal development “beyond any incentive provided by a [California Environmental Quality Act] exemption for one part of a project’s permitting process.” The governor also noted that he signed AB1359 last year, which reformed the approval process for geothermal exploration, and he thinks it is “prudent that we understand the effects of these changes before granting wholesale CEQA exemptions with costly and complicated conditions.” AB527 would have allowed geothermal exploratory projects that GEMD deems to meet certain criteria to also be presumed to “have satisfied the requirements of CEQA for the geothermal exploratory project, including to support the issuance of any permit, funding, or other approval by a state or local agency, as provided.” AB531, which Newsom signed, makes geothermal projects one of the types of projects that — once the state Energy Commission certifies them as an “environmental leadership development project” — can benefit from a streamlined approval process under CEQA. The other projects that can receive that certification are solar or wind farms generating 50 MW or more, energy storage systems capable of storing 200 MWh or more, power plants 50 MW or

Read More »

Citigroup Flags Oil Market’s Bearish Consensus

The broad mood in the oil market remains bearish, although there are discrepancies as to how gloomy crude’s prospects are, according to Citigroup Inc., summarizing views from clients in North America and Europe. “Conviction differs on the depth of downside,” analysts including Francesco Martoccia said in a note. “Some clients doubt that a price floor at $60 a barrel for Brent crude oil would be enough to induce a supply-and-demand reaction to balance a global liquids market generally seen heading for a surplus.” Oil prices have shed more than 10% this year, with global benchmark Brent posting back-to-back monthly losses in August and September. The weakness has been driven largely by expectations that supplies will run ahead of demand as OPEC+ loosens output curbs and rival drillers also step up production. Still, stockpiling by China has acted to support the market, with inventory builds so far seen concentrated away from the market’s main pricing centers. “Other clients expect a more moderate, orderly price correction, arguing that projected stock builds could continue to accumulate outside of key pricing hubs, certainly ex-Cushing,” the analysts said, referring to the storage hub in Oklahoma that’s the physical delivery point for West Texas Intermediate. The Organization of the Petroleum Exporting Countries and its allies endorsed another quota hike last weekend, although the increment — 137,000 barrels a day for November’s production — was smaller than some of the sums that had been reported in the run-up to the gathering. “Today’s slower non-OPEC+ growth and greater OPEC+ optionality, along with heightened geopolitical risks looming on large producers” such as Russia and Iran, could temper the pace of price adjustment, the analysts said. Brent futures — which tumbled 8% last week ahead of the OPEC+ supply decision — traded slightly lower at $65.80 a barrel on Thursday. “Within the energy complex, consensus

Read More »

USA Crude Oil Stocks Rise by Almost 4 Million Barrels WoW

U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 3.7 million barrels from the week ending September 26 to the week ending October 3, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. That report, which was released on October 8 and included data for the week ending October 3, showed that crude oil stocks, not including the SPR, stood at 420.3 million barrels on October 3, 416.5 million barrels on September 26, and 422.7 million barrels on October 4, 2024. The report highlighted that data may not add up to totals due to independent rounding. Crude oil in the SPR stood at 407.0 million barrels on October 3, 406.7 million barrels on September 26, and 382.9 million barrels on October 4, 2024, the report revealed. Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.694 billion barrels on October 3, the report highlighted. Total petroleum stocks were down 0.9 million barrels week on week and up 52.2 million barrels year on year, the report showed. “At 420.3 million barrels, U.S. crude oil inventories are about four percent below the five year average for this time of year,” the EIA said in its latest weekly petroleum status report. “Total motor gasoline inventories decreased by 1.6 million barrels from last week and are about one percent below the five year average for this time of year. Finished gasoline inventories increased, while blending components inventories decreased last week,” it added. “Distillate fuel inventories decreased by 2.0 million barrels last week and are about six percent below the five year average for this time of year. Propane/propylene inventories decreased by 2.9 million

Read More »

Grid planners and experts on why markets keep choosing renewables

Listen to the article 11 min This audio is auto-generated. Please let us know if you have feedback. As electricity demand grows, alongside wind and solar’s share in the U.S. energy mix, concerns about renewables’ reliability are being raised more frequently — including at the highest levels of the federal government. “With the electricity grid, you have to match supply and demand in every moment in time,” Energy Secretary Chris Wright said recently on Fox News. “With wind and solar, you don’t know when they’re going to be there, and you don’t know when they’re going to go away.” Wright went on to say the development of renewables has led to an “extra distribution grid” that has raised energy prices.  But utility planners, grid operators and analysts say wind, solar and batteries are an important part of an evolving power system in which intermittent resources can be reliably scheduled and called upon using sophisticated software and other tools. They also point to both the levelized cost of electricity for renewables and their competitiveness in automated energy markets that select the least cost units to run in each hour. “System operators don’t decide whether resources bidding into the market are good or bad,” said Rob Gramlich, president of energy sector consultant Grid Strategies, in an interview. “There is no central decision maker,” he said. “Markets don’t play favorites.” ERCOT’s multi-resource price-selected portfolio for August 20, 2025, at 5:50 PM CDT ERCOT “dashboard” [jpg]. Retrieved from dashboard. With generators retiring, demand rising, and construction, financing, permitting and supply chain challenges growing, operators and analysts acknowledged concerns over the future of the U.S. power system. Many called for diversification of resources, including renewables and storage, to protect electricity reliability and affordability. “The objective of planning is a portfolio of diverse resources at the least cost

Read More »

Investor-owned utilities could spend $1.1T between 2025 and 2029: EEI

Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Electric utilities are on pace to spend nearly $208 billion on grid upgrades and expansions this year, the highest amount ever, the Edison Electric Institute said Tuesday. The group represents investor-owned utilities. And more growth in capital expenditures is on the way, as the sector rushes to meet growing demand, according to EEI’s 2024 financial review. The group’s members are projected to make capital expenditures of more than $1.1 trillion between 2025 and 2029. U.S electricity generation rose 3% in 2024 “and is expected to rise for the foreseeable future,” EEI said. Generation investments as a share of the industry’s total capital expenditures have risen for four straight years, it said. Dive Insight: After years of relatively stagnant growth, the electric sector is moving quickly to meet new demand from AI data centers, industrial expansion, electrification and other sources. The U.S. generated 4.3 million GWh in 2024, “the largest annual jump in five years,” EEI said. The group anticipates an annual growth rate of 1.7% through 2040, when domestic generation could surpass 5.4 million GWh.     Meeting the new demand requires significant grid investments. IOU capital expenditures grew more than 16% from 2024 to 2025, based on anticipated investments, EEI said. Permission granted by Edison Electric Institute “Our capital expenditures are higher than any other sector in the U.S. economy, outpacing transportation, retail, and other capital-intensive industries,” EEI President and CEO Drew Maloney wrote in a letter accompanying the report. “As always, we remain committed to keeping customer bills as low as possible as we work to deliver the reliable, secure electricity that is enabling innovation and enhancing the energy leadership of the United States.”   But some experts say retail consumers are footing the bill

Read More »

To keep energy affordable, Virginia must embrace power line innovation

Jeff Dennis is executive director of the Electricity Customers Alliance, a coalition that advocates for customer-centric solutions to grid modernization and energy affordability challenges. A modern economy requires modern energy solutions to meet the growing energy demand created by reshored manufacturing, increased electrification of homes, businesses, and vehicles, and — of course — data centers. Virginia and the Mid-Atlantic house the data center capital of the Western world, and the Commonwealth is positioned to lead America’s push to win the global artificial intelligence race. Data center growth can deliver many economic benefits to communities. However, this increased electricity demand requires smartly planned power infrastructure and a focus on short- and long-term solutions to address consumers’ concerns about their power bills. Planning and building electricity infrastructure to meet rapidly growing demand while keeping electricity affordable for all consumers will take time. However, data centers and manufacturers need power now to win the AI race and capture new economic opportunities in manufacturing and the digital economy. Virginia must capitalize on short-term opportunities to expand and maximize the use of our existing grid assets to deliver more power while setting the foundation for smart, long-term buildout of our shared electricity grid. To address this challenge, the General Assembly passed, and Gov. Glenn Youngkin signed, legislation to encourage deployment of advanced transmission technologies that maximize the amount of power that can be delivered from our existing lines. Beginning in 2026, the legislation requires the State Corporation Commission to consider the use of new power line technologies called “advanced conductors” when deciding how to bring more power supply onto the grid. Many other Mid-Atlantic states have followed Virginia’s lead in encouraging adoption of these technologies to help meet our needs today while establishing a foundation for an efficient future electricity system. That’s great news for consumers —

Read More »

Investor-owned utilities could spend $1.1T between 2025 and 2029: EEI

Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Electric utilities are on pace to spend nearly $208 billion on grid upgrades and expansions this year, the highest amount ever, the Edison Electric Institute said Tuesday. The group represents investor-owned utilities. And more growth in capital expenditures is on the way, as the sector rushes to meet growing demand, according to EEI’s 2024 financial review. The group’s members are projected to make capital expenditures of more than $1.1 trillion between 2025 and 2029. U.S electricity generation rose 3% in 2024 “and is expected to rise for the foreseeable future,” EEI said. Generation investments as a share of the industry’s total capital expenditures have risen for four straight years, it said. Dive Insight: After years of relatively stagnant growth, the electric sector is moving quickly to meet new demand from AI data centers, industrial expansion, electrification and other sources. The U.S. generated 4.3 million GWh in 2024, “the largest annual jump in five years,” EEI said. The group anticipates an annual growth rate of 1.7% through 2040, when domestic generation could surpass 5.4 million GWh.     Meeting the new demand requires significant grid investments. IOU capital expenditures grew more than 16% from 2024 to 2025, based on anticipated investments, EEI said. Permission granted by Edison Electric Institute “Our capital expenditures are higher than any other sector in the U.S. economy, outpacing transportation, retail, and other capital-intensive industries,” EEI President and CEO Drew Maloney wrote in a letter accompanying the report. “As always, we remain committed to keeping customer bills as low as possible as we work to deliver the reliable, secure electricity that is enabling innovation and enhancing the energy leadership of the United States.”   But some experts say retail consumers are footing the bill

Read More »

Grid planners and experts on why markets keep choosing renewables

Listen to the article 11 min This audio is auto-generated. Please let us know if you have feedback. As electricity demand grows, alongside wind and solar’s share in the U.S. energy mix, concerns about renewables’ reliability are being raised more frequently — including at the highest levels of the federal government. “With the electricity grid, you have to match supply and demand in every moment in time,” Energy Secretary Chris Wright said recently on Fox News. “With wind and solar, you don’t know when they’re going to be there, and you don’t know when they’re going to go away.” Wright went on to say the development of renewables has led to an “extra distribution grid” that has raised energy prices.  But utility planners, grid operators and analysts say wind, solar and batteries are an important part of an evolving power system in which intermittent resources can be reliably scheduled and called upon using sophisticated software and other tools. They also point to both the levelized cost of electricity for renewables and their competitiveness in automated energy markets that select the least cost units to run in each hour. “System operators don’t decide whether resources bidding into the market are good or bad,” said Rob Gramlich, president of energy sector consultant Grid Strategies, in an interview. “There is no central decision maker,” he said. “Markets don’t play favorites.” ERCOT’s multi-resource price-selected portfolio for August 20, 2025, at 5:50 PM CDT ERCOT “dashboard” [jpg]. Retrieved from dashboard. With generators retiring, demand rising, and construction, financing, permitting and supply chain challenges growing, operators and analysts acknowledged concerns over the future of the U.S. power system. Many called for diversification of resources, including renewables and storage, to protect electricity reliability and affordability. “The objective of planning is a portfolio of diverse resources at the least cost

Read More »

Uniper Inks 7-Year Deal for Biomethane Supply from Spain

Uniper SE has signed an agreement with Fivebioenergy SL for supply from three of Spain’s biggest biomethane projects for seven years. The Madrid-based developer will start deliveries 2027, a joint statement said, without disclosing the contract volume. “This agreement places Uniper in a strong position to complement the growing share of renewables with low-carbon energy sources and to accelerate the decarbonization of both road and maritime sectors”, the statement said. “It is a significant milestone in the ongoing commitment to delivering reliable, sustainable energy to customers across Europe. “To support the import of renewable and low-carbon gases, Uniper is expanding its portfolio accordingly. “Next to hydrogen and its derivates, biomethane plays a crucial role in achieving a sustainable energy mix”. Five Bioenergy chief information officer Ivan Copin said the agreement with the German power and gas utility “secures a stable market for our biomethane while reinforcing our vision of a decarbonized Europe powered by renewable energy”. All three plants in the agreement are to rise in Murcia, the statement said. Earlier this year Five Bioenergy contracted HoSt Energy Systems to deliver five of the biggest biogas plants in Spain. The projects in the regions of Castilla Leon, Aragon and Murcia will include biogas upgrading systems for nearly 0.8 terawatt hours of biomethane production and carbon dioxide (CO2) liquefaction plants to recover and liquefy the CO2 from the anaerobic digestion process, HoSt said in a statement April 7. Two of the projects under construction in Lorca and Milagros will process a total of up to 387,000 metric tons of agricultural residues including cow, sheep and poultry manure, alongside expired food such as slaughterhouse waste and distillery waste, HoSt said. “The feedstock is supplied by local farmers who get value for their waste as the digestate, the digested matter, from the biogas plant is converted

Read More »

BMI Flags Trends It Says Will Shape Future of Oil, Gas

A BMI “megatrends analysis” sent to Rigzone by the Fitch Group this week highlighted “key trends within trade and globalization which will shape the future of the oil and gas industry until 2050”. One of these trends is that “divergent climate policies drive carbon-differentiated oil and gas trade”, the report pointed out. “Divergent decarbonization pathways and cyclical stop-start climate action will reshape global oil and gas markets,” a description of the trend in the report noted. “As governments pursue differing policy mixes, trade will fragment, forming loose blocs defined by carbon intensity and regulatory alignment. After decades of deepening integration, fungibility will give way to a more fractured energy system,” it added. Looking at the “winners” of this trend, the report flagged “low-carbon producers and exporters and those with carbon-management capabilities that can capture price premia”. It also highlighted “oilfield services and technology providers offering carbon management solutions, efficiency and electrification technologies and emissions certification and compliance services”, “trading intermediaries and financial institutions exploiting policy-driven arbitrage and structuring products around carbondifferentiated trade”, and “carbon accounting and MRV providers supplying emissions monitoring, verification and certification services”. The report flagged “high-carbon producers and exporters with limited carbon-management capabilities that face structural discounts on their O&G” as “losers” of the trend. “Oilfield services and technology providers tied to high-emissions operations with limited capacity to diversify geographically or technologically” and “capital providers and insurers exposed to carbon-intensive assets at increased risk of asset stranding” were also predicted to lose out in the report. Another trend highlighted in the report is that “energy security fears lead to a restructured oil and gas trade”. “The continuing global fragmentation into a multipolar world order would divide up existing trade blocs and necessitate a re-routing of vital energy supplies from allied states,” the report noted in a description

Read More »

EIA Lifts 2025 and 2026 Brent Forecasts for 1st Time in 2025

The U.S. Energy Information Administration (EIA) has raised both its 2025 and 2026 average Brent crude oil spot price forecasts in a short term energy outlook (STEO) for the first time in 2025. In its latest STEO, which was released on October 7, the EIA projected that the Brent crude spot price will average $68.64 per barrel in 2025 and $52.16 per barrel in 2026. The EIA predicted in its October STEO that the Brent spot price will come in at $62.05 per barrel in the fourth quarter of this year, $51.97 per barrel in the first quarter of 2026, $51.67 per barrel in the second quarter, $52.00 per barrel in the third quarter, and $53.00 per barrel in the fourth quarter. The EIA projected that the Brent spot price would average $67.80 per barrel in 2025 and $51.43 per barrel in 2026 in its September STEO, $67.22 per barrel in 2025 and $51.43 per barrel in 2026 in its August STEO, $68.89 per barrel in 2025 and $58.48 per barrel in 2026 in its July STEO, $65.97 per barrel in 2025 and $59.24 per barrel in 2026 in its June STEO, $65.85 per barrel in 2025 and $59.24 per barrel in 2026 in its May STEO, $67.87 per barrel in 2025 and $61.48 per barrel in 2026 in its April STEO, $74.22 per barrel in 2025 and $68.47 per barrel in 2026 in its March STEO, $74.50 per barrel in 2025 and $66.46 per barrel in 2026 in its February STEO, and $74.31 per barrel in 2025 and $66.46 per barrel in 2026 in its January STEO. “Brent crude oil spot prices averaged $68 per barrel in September, unchanged from the average in August,” the EIA noted in its October STEO. “We forecast that growing global oil supply and

Read More »

OMV to Reset Dividend Policy

OMV AG will implement a new dividend policy from 2026, when it expects to have consolidated its petrochemical assets with Abu Dhabi National Oil Co PJSC (ADNOC), the Austrian state-backed integrated energy company said this week. On March 4 OMV and ADNOC announced an agreement to combine Borealis GmbH, formerly Borealis AG, and Borouge PLC to form Borouge Group International (BGI). OMV owns 75 percent of Vienna-based Borealis while ADNOC holds the remaining 25 percent. In Abu Dhabi-based Borouge, ADNOC directly owns 54 percent and Borealis 36 percent. OMV and ADNOC will each own 46.94 percent in BGI. They expect to complete the Borealis-Borouge combination in the first quarter of 2026. “OMV will distribute 50 percent of BGI dividends attributable to OMV, plus 20-30 percent of operating cash flow excluding BGI dividends attributable to OMV”, OMV said in a statement on its website. “The revised policy ensures OMV shareholders benefiting from BGI’s performance, while maintaining OMV’s strong track record of attractive and competitive shareholder distributions. “The structure of a progressive regular dividend, plus an additional variable dividend is retained when the leverage ratio is below 30 percent. “The new dividend policy will apply starting with the financial year 2026, with dividends to be paid in 2027. The current dividend policy will continue to apply for the financial year 2025, with dividends to be paid in 2026”. BGI is set to become the world’s fourth-biggest polyolefins producer, according to the partners. “BGI enables access to high-end markets, cost-advantaged feedstock (70 percent of production) and robust cash flows”, OMV said “Starting in 2026, OMV anticipates a minimum floor dividend of $1 billion from Borouge Group International, significantly strengthening its financial performance”. OMV also announced an organic investment plan of around EUR 2.8 billion a year on average from 2026 to 2030, with

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National Grid, Con Edison urge FERC to adopt gas pipeline reliability requirements

The Federal Energy Regulatory Commission should adopt reliability-related requirements for gas pipeline operators to ensure fuel supplies during cold weather, according to National Grid USA and affiliated utilities Consolidated Edison Co. of New York and Orange and Rockland Utilities. In the wake of power outages in the Southeast and the near collapse of New York City’s gas system during Winter Storm Elliott in December 2022, voluntary efforts to bolster gas pipeline reliability are inadequate, the utilities said in two separate filings on Friday at FERC. The filings were in response to a gas-electric coordination meeting held in November by the Federal-State Current Issues Collaborative between FERC and the National Association of Regulatory Utility Commissioners. National Grid called for FERC to use its authority under the Natural Gas Act to require pipeline reliability reporting, coupled with enforcement mechanisms, and pipeline tariff reforms. “Such data reporting would enable the commission to gain a clearer picture into pipeline reliability and identify any problematic trends in the quality of pipeline service,” National Grid said. “At that point, the commission could consider using its ratemaking, audit, and civil penalty authority preemptively to address such identified concerns before they result in service curtailments.” On pipeline tariff reforms, FERC should develop tougher provisions for force majeure events — an unforeseen occurence that prevents a contract from being fulfilled — reservation charge crediting, operational flow orders, scheduling and confirmation enhancements, improved real-time coordination, and limits on changes to nomination rankings, National Grid said. FERC should support efforts in New England and New York to create financial incentives for gas-fired generators to enter into winter contracts for imported liquefied natural gas supplies, or other long-term firm contracts with suppliers and pipelines, National Grid said. Con Edison and O&R said they were encouraged by recent efforts such as North American Energy Standard

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US BOEM Seeks Feedback on Potential Wind Leasing Offshore Guam

The United States Bureau of Ocean Energy Management (BOEM) on Monday issued a Call for Information and Nominations to help it decide on potential leasing areas for wind energy development offshore Guam. The call concerns a contiguous area around the island that comprises about 2.1 million acres. The area’s water depths range from 350 meters (1,148.29 feet) to 2,200 meters (7,217.85 feet), according to a statement on BOEM’s website. Closing April 7, the comment period seeks “relevant information on site conditions, marine resources, and ocean uses near or within the call area”, the BOEM said. “Concurrently, wind energy companies can nominate specific areas they would like to see offered for leasing. “During the call comment period, BOEM will engage with Indigenous Peoples, stakeholder organizations, ocean users, federal agencies, the government of Guam, and other parties to identify conflicts early in the process as BOEM seeks to identify areas where offshore wind development would have the least impact”. The next step would be the identification of specific WEAs, or wind energy areas, in the larger call area. BOEM would then conduct environmental reviews of the WEAs in consultation with different stakeholders. “After completing its environmental reviews and consultations, BOEM may propose one or more competitive lease sales for areas within the WEAs”, the Department of the Interior (DOI) sub-agency said. BOEM Director Elizabeth Klein said, “Responsible offshore wind development off Guam’s coast offers a vital opportunity to expand clean energy, cut carbon emissions, and reduce energy costs for Guam residents”. Late last year the DOI announced the approval of the 2.4-gigawatt (GW) SouthCoast Wind Project, raising the total capacity of federally approved offshore wind power projects to over 19 GW. The project owned by a joint venture between EDP Renewables and ENGIE received a positive Record of Decision, the DOI said in

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Biden Bars Offshore Oil Drilling in USA Atlantic and Pacific

President Joe Biden is indefinitely blocking offshore oil and gas development in more than 625 million acres of US coastal waters, warning that drilling there is simply “not worth the risks” and “unnecessary” to meet the nation’s energy needs.  Biden’s move is enshrined in a pair of presidential memoranda being issued Monday, burnishing his legacy on conservation and fighting climate change just two weeks before President-elect Donald Trump takes office. Yet unlike other actions Biden has taken to constrain fossil fuel development, this one could be harder for Trump to unwind, since it’s rooted in a 72-year-old provision of federal law that empowers presidents to withdraw US waters from oil and gas leasing without explicitly authorizing revocations.  Biden is ruling out future oil and gas leasing along the US East and West Coasts, the eastern Gulf of Mexico and a sliver of the Northern Bering Sea, an area teeming with seabirds, marine mammals, fish and other wildlife that indigenous people have depended on for millennia. The action doesn’t affect energy development under existing offshore leases, and it won’t prevent the sale of more drilling rights in Alaska’s gas-rich Cook Inlet or the central and western Gulf of Mexico, which together provide about 14% of US oil and gas production.  The president cast the move as achieving a careful balance between conservation and energy security. “It is clear to me that the relatively minimal fossil fuel potential in the areas I am withdrawing do not justify the environmental, public health and economic risks that would come from new leasing and drilling,” Biden said. “We do not need to choose between protecting the environment and growing our economy, or between keeping our ocean healthy, our coastlines resilient and the food they produce secure — and keeping energy prices low.” Some of the areas Biden is protecting

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Biden Admin Finalizes Hydrogen Tax Credit Favoring Cleaner Production

The Biden administration has finalized rules for a tax incentive promoting hydrogen production using renewable power, with lower credits for processes using abated natural gas. The Clean Hydrogen Production Credit is based on carbon intensity, which must not exceed four kilograms of carbon dioxide equivalent per kilogram of hydrogen produced. Qualified facilities are those whose start of construction falls before 2033. These facilities can claim credits for 10 years of production starting on the date of service placement, according to the draft text on the Federal Register’s portal. The final text is scheduled for publication Friday. Established by the 2022 Inflation Reduction Act, the four-tier scheme gives producers that meet wage and apprenticeship requirements a credit of up to $3 per kilogram of “qualified clean hydrogen”, to be adjusted for inflation. Hydrogen whose production process makes higher lifecycle emissions gets less. The scheme will use the Energy Department’s Greenhouse Gases, Regulated Emissions and Energy Use in Transportation (GREET) model in tiering production processes for credit computation. “In the coming weeks, the Department of Energy will release an updated version of the 45VH2-GREET model that producers will use to calculate the section 45V tax credit”, the Treasury Department said in a statement announcing the finalization of rules, a process that it said had considered roughly 30,000 public comments. However, producers may use the GREET model that was the most recent when their facility began construction. “This is in consideration of comments that the prospect of potential changes to the model over time reduces investment certainty”, explained the statement on the Treasury’s website. “Calculation of the lifecycle GHG analysis for the tax credit requires consideration of direct and significant indirect emissions”, the statement said. For electrolytic hydrogen, electrolyzers covered by the scheme include not only those using renewables-derived electricity (green hydrogen) but

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Xthings unveils Ulticam home security cameras powered by edge AI

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Xthings announced that its Ulticam security camera brand has a new model out today: the Ulticam IQ Floodlight, an edge AI-powered home security camera. The company also plans to showcase two additional cameras, Ulticam IQ, an outdoor spotlight camera, and Ulticam Dot, a portable, wireless security camera. All three cameras offer free cloud storage (seven days rolling) and subscription-free edge AI-powered person detection and alerts. The AI at the edge means that it doesn’t have to go out to an internet-connected data center to tap AI computing to figure out what is in front of the camera. Rather, the processing for the AI is built into the camera itself, and that sets a new standard for value and performance in home security cameras. It can identify people, faces and vehicles. CES 2025 attendees can experience Ulticam’s entire lineup at Pepcom’s Digital Experience event on January 6, 2025, and at the Venetian Expo, Halls A-D, booth #51732, from January 7 to January 10, 2025. These new security cameras will be available for purchase online in the U.S. in Q1 and Q2 2025 at U-tec.com, Amazon, and Best Buy. The Ulticam IQ Series: smart edge AI-powered home security cameras Ulticam IQ home security camera. The Ulticam IQ Series, which includes IQ and IQ Floodlight, takes home security to the next level with the most advanced AI-powered recognition. Among the very first consumer cameras to use edge AI, the IQ Series can quickly and accurately identify people, faces and vehicles, without uploading video for server-side processing, which improves speed, accuracy, security and privacy. Additionally, the Ulticam IQ Series is designed to improve over time with over-the-air updates that enable new AI features. Both cameras

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Intel unveils new Core Ultra processors with 2X to 3X performance on AI apps

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Intel unveiled new Intel Core Ultra 9 processors today at CES 2025 with as much as two or three times the edge performance on AI apps as before. The chips under the Intel Core Ultra 9 and Core i9 labels were previously codenamed Arrow Lake H, Meteor Lake H, Arrow Lake S and Raptor Lake S Refresh. Intel said it is pushing the boundaries of AI performance and power efficiency for businesses and consumers, ushering in the next era of AI computing. In other performance metrics, Intel said the Core Ultra 9 processors are up to 5.8 times faster in media performance, 3.4 times faster in video analytics end-to-end workloads with media and AI, and 8.2 times better in terms of performance per watt than prior chips. Intel hopes to kick off the year better than in 2024. CEO Pat Gelsinger resigned last month without a permanent successor after a variety of struggles, including mass layoffs, manufacturing delays and poor execution on chips including gaming bugs in chips launched during the summer. Intel Core Ultra Series 2 Michael Masci, vice president of product management at the Edge Computing Group at Intel, said in a briefing that AI, once the domain of research labs, is integrating into every aspect of our lives, including AI PCs where the AI processing is done in the computer itself, not the cloud. AI is also being processed in data centers in big enterprises, from retail stores to hospital rooms. “As CES kicks off, it’s clear we are witnessing a transformative moment,” he said. “Artificial intelligence is moving at an unprecedented pace.” The new processors include the Intel Core 9 Ultra 200 H/U/S models, with up to

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Powering HPC with next-generation CPUs

In partnership withMicrosoft and AMD For all the excitement around GPUs—the workhorses of today’s AI revolution—the central processing unit (CPU) remains the backbone of high-performance computing (HPC). CPUs still handle 80% to 90% of HPC workloads globally, powering everything from climate modeling to semiconductor design. Far from being eclipsed, they’re evolving in ways that make them more competitive, flexible, and indispensable than ever. [embedded content] The competitive landscape around CPUs has intensified. Once dominated almost exclusively by Intel’s x86 chips, the market now includes powerful alternatives based on ARM and even emerging architectures like RISC-V. Flagship examples like Japan’s Fugaku supercomputer demonstrate how CPU innovation is pushing performance to new frontiers. Meanwhile, cloud providers like Microsoft and AWS are developing their own silicon, adding even more diversity to the ecosystem. What makes CPUs so enduring? Flexibility, compatibility, and cost efficiency are key. As Evan Burness of Microsoft Azure points out, CPUs remain the “it-just-works” technology. Moving complex, proprietary code to GPUs can be an expensive and time-consuming effort, while CPUs typically support software continuity across generations with minimal friction. That reliability matters for businesses and researchers who need results, not just raw power. Innovation is also reshaping what a CPU can be. Advances in chiplet design, on-package memory, and hybrid CPU-GPU architectures are extending the performance curve well beyond the limits of Moore’s Law. For many organizations, the CPU is the strategic choice that balances speed, efficiency, and cost.
Looking ahead, the relationship between CPUs, GPUs, and specialized processors like NPUs will define the future of HPC. Rather than a zero-sum contest, it’s increasingly a question of fit-for-purpose design. As Addison Snell, co-founder and chief executive officer of Intersect360 Research, notes, science and industry never run out of harder problems to solve. That means CPUs, far from fading, will remain at the center of the computing ecosystem. To learn more, read the new report “Designing CPUs for next-generation supercomputing.” This content was produced by Insights, the custom content arm of MIT Technology Review. It was not written by MIT Technology Review’s editorial staff. It was researched, designed, and written by human writers, editors, analysts, and illustrators. AI tools that may have been used were limited to secondary production processes that passed thorough human review.

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Designing CPUs for next-generation supercomputing

In partnership withMicrosoft Azure and AMD In Seattle, a meteorologist analyzes dynamic atmospheric models to predict the next major storm system. In Stuttgart, an automotive engineer examines crash-test simulations for vehicle safety certification. And in Singapore, a financial analyst simulates portfolio stress tests to hedge against global economic shocks.  Each of these professionals—and the consumers, commuters, and investors who depend on their insights— relies on a time-tested pillar of high-performance computing: the humble CPU.  With GPU-powered AI breakthroughs getting the lion’s share of press (and investment) in 2025, it is tempting to assume that CPUs are yesterday’s news. Recent predictions anticipate that GPU and accelerator installations will increase by 17% year over year through 2030. But, in reality, CPUs are still responsible for the vast majority of today’s most cutting-edge scientific, engineering, and research workloads. Evan Burness, who leads Microsoft Azure’s HPC and AI product teams, estimates that CPUs still support 80% to 90% of HPC simulation jobs today. In 2025, not only are these systems far from obsolete, they are experiencing a technological renaissance. A new wave of CPU innovation, including high-bandwidth memory (HBM), is delivering major performance gains— without requiring costly architectural resets. 
Download the report. To learn more, watch the new webcast “Powering HPC with next-generation CPUs.” This content was produced by Insights, the custom content arm of MIT Technology Review. It was not written by MIT Technology Review’s editorial staff. It was researched, designed, and written by human writers, editors, analysts, and illustrators. AI tools that may have been used were limited to secondary production processes that passed thorough human review.

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The Download: our thawing permafrost, and a drone-filled future

This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology. Scientists can see Earth’s permafrost thawing from space Something is rotten in the city of Nunapitchuk. In recent years, sewage has leached into the earth. The ground can feel squishy, sodden.This small town in northern Alaska is experiencing a sometimes overlooked consequence of climate change: thawing permafrost. And Nunapitchuk is far from the only Arctic town to find itself in such a predicament.  Now scientists think they may be able to use satellite data to delve deep beneath the ground’s surface and get a better understanding of how the permafrost thaws, and which areas might be most severely affected. Read the full story.
—Sarah Scoles
The US may be heading toward a drone-filled future —James O’Donnell Last week, I published a story about the police-tech giant Flock Safety selling its drones to the private sector to track shoplifters. Keith Kauffman, a former police chief who now leads Flock’s drone efforts, described the ideal scenario: A security team at a Home Depot, say, launches a drone from the roof that follows shoplifting suspects to their car. The drone tracks their car through the streets, transmitting its live video feed directly to the police.It’s a vision that, unsurprisingly, alarms civil liberties advocates. But the fate of drones in the US pretty much comes down to one rule. It’s a Federal Aviation Administration regulation that stipulates where and how drones can be flown—and it is about to change. Read the full story. This story originally appeared in The Algorithm, our weekly newsletter on AI. To get stories like this in your inbox first, sign up here. Trump’s impact on the next generation of innovators Every year, MIT Technology Review recognizes dozens of young researchers on our Innovators Under 35 list. This year Amy Nordrum, our executive editor, and our senior investigative reporter Eileen Guo checked back in with recent honorees to see how they’re faring amid sweeping changes to science and technology policy within the US.Join us tomorrow at 1.30pm ET for an exclusive Roundtables conversation with Amy and Eileen to learn about the complex realities of what life has been like for those aiming to build their labs and companies in today’s political climate. Register here!

The must-reads I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology. 1 California’s governor has signed America’s first AI law It’ll require AI developers to publicly disclose their safety and security protocols. (Politico)+ The landmark bill has received a mixed reception from the AI industry. (TechCrunch) 2 The Trump administration is pressuring TaiwanIt’s pushing officials to move 50% of chip production to the US—or else. (Ars Technica)+ The US argues it’s the best way to counter invasion threats from China. (Bloomberg $)+ Taiwan’s “silicon shield” could be weakening. (MIT Technology Review) 3 US ChatGPT users can now buy stuff without leaving the chatbotIt’s laying the groundwork for AI agent-based shopping. (WSJ $)+ Etsy is among the first retailers to sign up for the service. (CNBC)+ It’s a direct challenge to Google’s business model. (Fortune $)+ Your most important customer may be AI. (MIT Technology Review) 4 YouTube has agreed to settle a lawsuit brought by Trump It’s handing over $24.5 million after his account was suspended in the wake of the US Capitol riot in 2021. (WSJ $)+ It’s the third giant tech platform to bend to the President’s will. (The Verge) 5 Meta is expanding use of its facial recognition toolsIn a bid to combat account impersonation in Europe, the UK, and South Korea. (Engadget) 6 The US Energy Department has banned the term “climate change”See also: “green” and “decarbonization.” (Politico)+ Even “emissions” isn’t safe. (TechCrunch)+ How to make clean energy progress under Trump in the States. (MIT Technology Review)
7 AI data centers are sending the cost of electricity skyrocketingAnd it’s regular citizens who are left paying the price. (Bloomberg $)+ Sam Altman wants a staggering amount of energy. (The Information $)+ The data center boom in the desert. (MIT Technology Review) 8 Elon Musk’s senior staff are leaving in their drovesThey’re burnt out and tired of their leader’s erratic strategies. (FT $)
9 Do black holes actually exist?The evidence says yes, but proving it is a different matter. (New Scientist $)10 California police tried to ticket a driverless car But who’s to blame for its illegal U-turn if there’s no driver? (The Guardian)+ It turns out officers don’t currently have any way to issue tickets to robots. (Insider $) Quote of the day “There are certainly people in [the] tech world who would like to see no regulation of anything in any respect whatsoever, but that’s not tenable.” —US Senator Scott Wiener, who proposed the original AI Safety Bill last year, explains why he believes the revised version that’s been passed into law is a reasonable approach to the New York Times.
One more thing How mobile money supercharged Kenya’s sports betting addictionMobile money has mostly been hugely beneficial for Kenyans. But it has also turbo-charged the country’s sports betting sector.Since the middle of the last decade, experts and public figures across the African continent have been sounding the alarm over the rising popularity of sports betting. The practice has produced tales of riches, but it has also broken families, consumed college tuitions, and even driven some to suicide.Nowhere, though, is the craze as acute as it is in Kenya, the country often dubbed Africa’s “Silicon Savannah” for its status as a regional tech powerhouse. But while Kenya’s mobile money revolution has played a well-documented role in encouraging savings and democratizing access to finance, today, it’s easier than ever for those in fragile economic circumstances to squander everything. Read the full story. —Jonathan W. Rosen

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The US may be heading toward a drone-filled future

On Thursday, I published a story about the police-tech giant Flock Safety selling its drones to the private sector to track shoplifters. Keith Kauffman, a former police chief who now leads Flock’s drone efforts, described the ideal scenario: A security team at a Home Depot, say, launches a drone from the roof that follows shoplifting suspects to their car. The drone tracks their car through the streets, transmitting its live video feed directly to the police.  It’s a vision that, unsurprisingly, alarms civil liberties advocates. They say it will expand the surveillance state created by police drones, license-plate readers, and other crime tech, which has allowed law enforcement to collect massive amounts of private data without warrants. Flock is in the middle of a federal lawsuit in Norfolk, Virginia, that alleges just that. Read the full story to learn more.  But the peculiar thing about the world of drones is that its fate in the US—whether the skies above your home in the coming years will be quiet, or abuzz with drones dropping off pizzas, inspecting potholes, or chasing shoplifting suspects—pretty much comes down to one rule. It’s a Federal Aviation Administration (FAA) regulation that stipulates where and how drones can be flown, and it is about to change. Currently, you need a waiver from the FAA to fly a drone farther than you can see it. This is meant to protect the public and property from in-air collisions and accidents. In 2018, the FAA began granting these waivers for various scenarios, like search and rescues, insurance inspections, or police investigations. With Flock’s help, police departments can get waivers approved in just two weeks. The company’s private-sector customers generally have to wait 60 to 90 days.
For years, industries with a stake in drones—whether e-commerce companies promising doorstep delivery or medical transporters racing to move organs—have pushed the government to scrap the waiver system in favor of easier approval to fly beyond visual line of sight. In June, President Donald Trump echoed that call in an executive order for “American drone dominance,” and in August, the FAA released a new proposed rule. The proposed rule lays out some broad categories for which drone operators are permitted to fly drones beyond their line of sight, including package delivery, agriculture, aerial surveying, and civic interest, which includes policing. Getting approval to fly beyond sight would become easier for operators from these categories, and would generally expand their range. 
Drone companies, and amateur drone pilots, see it as a win. But it’s a win that comes at the expense of privacy for the rest of us, says Jay Stanley, a senior policy analyst with the ACLU Speech, Privacy and Technology Project who served on the rule-making commission for the FAA. “The FAA is about to open up the skies enormously, to a lot more [beyond visual line of sight] flights without any privacy protections,” he says. The ACLU has said that fleets of drones enable persistent surveillance, including of protests and gatherings, and impinge on the public’s expectations of privacy. If you’ve got something to say about the FAA’s proposed rule, you can leave a public comment (they’re being accepted until October 6.) Trump’s executive order directs the FAA to release the final rule by spring 2026. This story originally appeared in The Algorithm, our weekly newsletter on AI. To get stories like this in your inbox first, sign up here.

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Scientists can see Earth’s permafrost thawing from space

Something is rotten in the city of Nunapitchuk. In recent years, a crack has formed in the middle of a house. Sewage has leached into the earth. Soil has eroded around buildings, leaving them perched atop precarious lumps of dirt. There are eternal puddles. And mold. The ground can feel squishy, sodden.  This small town in northern Alaska is experiencing a sometimes overlooked consequence of climate change: thawing permafrost. And Nunapitchuk is far from the only Arctic town to find itself in such a predicament.  Permafrost, which lies beneath about 15% of the land in the Northern Hemisphere, is defined as ground that has remained frozen for at least two years. Historically, much of the world’s permafrost has remained solid and stable for far longer, allowing people to build whole towns atop it. But as the planet warms, a process that is happening more rapidly near the poles than at more temperate latitudes, permafrost is thawing and causing a host of infrastructural and environmental problems. Now scientists think they may be able to use satellite data to delve deep beneath the ground’s surface and get a better understanding of how the permafrost thaws, and which areas might be most severely affected because they had more ice to start with. Clues from the short-term behavior of those especially icy areas, seen from space, could portend future problems.
Using information gathered both from space and on the ground, they are working with affected communities to anticipate whether a house’s foundation will crack—and whether it is worth mending that crack or is better to start over in a new house on a stable hilltop. These scientists’ permafrost predictions are already helping communities like Nunapitchuk make those tough calls. But it’s not just civilian homes that are at risk. One of the top US intelligence agencies, the National Geospatial-Intelligence Agency (NGA), is also interested in understanding permafrost better. That’s because the same problems that plague civilians in the high north also plague military infrastructure, at home and abroad. The NGA is, essentially, an organization full of space spies—people who analyze data from surveillance satellites and make sense of it for the country’s national security apparatus. 
Understanding the potential instabilities of the Alaskan military infrastructure—which includes radar stations that watch for intercontinental ballistic missiles, as well as military bases and National Guard posts—is key to keeping those facilities in good working order and planning for their strengthened future. Understanding the potential permafrost weaknesses that could affect the infrastructure of countries like Russia and China, meanwhile, affords what insiders might call “situational awareness” about competitors.  The work to understand this thawing will only become more relevant, for civilians and their governments alike, as the world continues to warm.  The ground beneath If you live much below the Arctic Circle, you probably don’t think a lot about permafrost. But it affects you no matter where you call home. In addition to the infrastructural consequences for real towns like Nunapitchuk, thawing permafrost contains sequestered carbon—twice as much as currently inhabits the atmosphere. As the permafrost thaws, the process can release greenhouse gases into the atmosphere. That release can cause a feedback loop: Warmer temperatures thaw permafrost, which releases greenhouse gases, which warms the air more, which then—you get it.  The microbes themselves, along with previously trapped heavy metals, are also set dangerously free. For many years, researchers’ primary options for understanding some of these freeze-thaw changes involved hands-on, on-the-ground surveys. But in the late 2000s, Kevin Schaefer, currently a senior scientist at the Cooperative Institute for Research in Environmental Sciences at the University of Colorado Boulder, started to investigate a less labor-intensive idea: using radar systems aboard satellites to survey the ground beneath.  This idea implanted itself in his brain in 2009, when he traveled to a place called Toolik Lake, southwest of the oilfields of Prudhoe Bay in Alaska. One day, after hours of drilling sample cores out of the ground to study permafrost, he was relaxing in the Quonset hut, chatting with colleagues. They began to discuss how  space-based radar could potentially detect how the land sinks and heaves back up as temperatures change.  Huh, he thought. Yes, radar probably could do that. 

Scientists call the ground right above permafrost the active layer. The water in this layer of soil contracts and expands with the seasons: during the summer, the ice suffusing the soil melts and the resulting decrease in volume causes the ground to dip. During the winter, the water freezes and expands, bulking the active layer back up. Radar can help measure that height difference, which is usually around one to five centimeters.  Schaefer realized that he could use radar to measure the ground elevation at the start and end of the thaw. The electromagnetic waves that bounce back at those two times would have traveled slightly different distances. That difference would reveal the tiny shift in elevation over the seasons and would allow him to estimate how much water had thawed and refrozen in the active layer and how far below the surface the thaw had extended. With radar, Schaefer realized, scientists could cover a lot more literal ground, with less effort and at lower cost. “It took us two years to figure out how to write a paper on it,” he says; no one had ever made those measurements before. He and colleagues presented the idea at the 2010 meeting of the American Geophysical Union and published a paper in 2012 detailing the method, using it to estimate the thickness of the active layer on Alaska’s North Slope. When they did, they helped start a new subfield that grew as large-scale data sets started to become available around 5 to 10 years ago, says Roger Michaelides, a geophysicist at Washington University in St. Louis and a collaborator of Schaefer’s. Researchers’ efforts were aided by the growth in space radar systems and smaller, cheaper satellites.  With the availability of global data sets (sometimes for free, from government-run satellites like the European Space Agency’s Sentinel) and targeted observations from commercial companies like Iceye, permafrost studies are moving from bespoke regional analyses to more automated, large-scale monitoring and prediction. The remote view Simon Zwieback, a geospatial and environmental expert at the University of Alaska Fairbanks, sees the consequences of thawing permafrost firsthand every day. His office overlooks a university parking lot, a corner of which is fenced off to keep cars and pedestrians from falling into a brand-new sinkhole. That area of asphalt had been slowly sagging for more than a year, but over a week or two this spring, it finally started to collapse inward.  Kevin Schaefer stands on top of a melting layer of ice near the Alaskan pipeline on the North Slope of Alaska.COURTESY OF KEVIN SCHAEFER The new remote research methods are a large-scale version of Zwieback taking in the view from his window. Researchers look at the ground and measure how its height changes as ice thaws and refreezes. The approach can cover wide swaths of land, but it involves making assumptions about what’s going on below the surface—namely, how much ice suffuses the soil in the active layer and permafrost. Thawing areas with relatively low ice content could mimic thinner layers with more ice. And it’s important to differentiate the two, since more ice in the permafrost means more potential instability. 
To check that they’re on the right track, scientists have historically had to go out into the field. But a few years ago, Zwieback started to explore a way to make better and deeper estimates of ice content using the available remote sensing data. Finding a way to make those kinds of measurements on a large scale was more than an academic exercise: Areas of what he calls “excess ice” are most liable to cause instability at the surface. “In order to plan in these environments, we really need to know how much ice there is, or where those locations are that are rich in ice,” he says. Zwieback, who did his undergraduate and graduate studies in Switzerland and Austria, wasn’t always so interested in permafrost, or so deeply affected by it. But in 2014, when he was a doctoral student in environmental engineering, he joined an environmental field campaign in Siberia, at the Lena River Delta, which resembles a gigantic piece of coral fanning out into the Arctic Ocean. Zwieback was near a town called Tiksi, one of the world’s northernmost settlements. It’s a military outpost and starting point for expeditions to the North Pole, featuring an abandoned plane near the ocean. Its Soviet-era concrete buildings sometimes bring it to the front page of the r/UrbanHell subreddit. 
Here, Zwieback saw part of the coastline collapse, exposing almost pure ice. It looked like a subterranean glacier, but it was permafrost. “That really had an indelible impact on me,” he says.  Later, as a doctoral student in Zurich and postdoc in Canada, he used his radar skills to understand the rapid changes that the activity of permafrost impressed upon the landscape.  And now, with his job in Fairbanks and his ideas about the use of radar sensing, he has done work funded by the NGA, which has an open Arctic data portal.  In his Arctic research, Zwieback started with the approach underlying most radar permafrost studies: looking at the ground’s seasonal subsidence and heave. “But that’s something that happens very close to the surface,” he says. “It doesn’t really tell us about these long-term destabilizing effects,” he adds. In warmer summers, he thought, subtle clues would emerge that could indicate how much ice is buried deeper down. For example, he expected those warmer-than-average periods to exaggerate the amount of change seen on the surface, making it easier to tell which areas are ice-rich. Land that was particularly dense with ice would dip more than it “should”—a precursor of bigger dips to come.
The first step, then, was to measure subsidence directly, as usual. But from there, Zwieback developed an algorithm to ingest data about the subsidence over time—as measured by radar—and other environmental information, like the temperatures at each measurement. He then created a digital model of the land that allowed him to adjust the simulated amount of ground ice and determine when it matched the subsidence seen in the real world. With that, researchers could infer the amount of ice beneath. Next, he made maps of that ice that could potentially be useful to engineers—whether they were planning a new subdivision or, as his funders might be, keeping watch on a military airfield. “What was new in my work was to look at these much shorter periods and use them to understand specific aspects of this whole system, and specifically how much ice there is deep down,” Zwieback says.  The NGA, which has also funded Schaefer’s work, did not respond to an initial request for comment but did later provide feedback for fact-checking. It removed an article on its website about Zwieback’s grant and its application to agency interests around the time that the current presidential administration began to ban mention of climate change in federal research. But the thawing earth is of keen concern. 
To start, the US has significant military infrastructure in Alaska: It’s home to six military bases and 49 National Guard posts, as well as 21 missile-detecting radar sites. Most are vulnerable to thaw now or in the near future, given that 85% of the state is on permafrost.  Beyond American borders, the broader north is in a state of tension. Russia’s relations with Northern Europe are icy. Its invasion of Ukraine has left those countries fearing that they too could be invaded, prompting Sweden and Finland, for instance, to join NATO. The US has threatened takeovers of Greenland and Canada. And China—which has shipping and resource ambitions for the region—is jockeying to surpass the US as the premier superpower.  Permafrost plays a role in the situation. “As knowledge has expanded, so has the understanding that thawing permafrost can affect things NGA cares about, including the stability of infrastructure in Russia and China,” read the NGA article. Permafrost covers 60% of Russia, and thaws have affected more than 40% of buildings in northern Russia already, according to statements from the country’s minister of natural resources in 2021. Experts say critical infrastructure like roads and pipelines is at risk, along with military installations. That could weaken both Russia’s strategic position and the security of its residents. In China, meanwhile, according to a report from the Council on Strategic Risks, important moving parts like the Qinghai-Tibet Railway, “which allows Beijing to more quickly move military personnel near contested areas of the Indian border,” is susceptible to ground thaw—as are oil and gas pipelines linking Russia and China.  In the field Any permafrost analysis that relies on data from space requires verification on Earth. The hope is that remote methods will become reliable enough to use on their own, but while they’re being developed, researchers must still get their hands muddy with more straightforward and longer tested physical methods. Some use a network called Circumpolar Active Layer Monitoring, which has existed since 1991, incorporating active-layer data from hundreds of measurement sites across the Northern Hemisphere.  Sometimes, that data comes from people physically probing an area; other sites use tubes permanently inserted into the ground, filled with a liquid that indicates freezing; still others use underground cables that measure soil temperature. Some researchers, like Schaefer, lug ground-penetrating radar systems around the tundra. He’s taken his system to around 50 sites and made more than 200,000 measurements of the active layer. The field-ready ground-penetrating radar comes in a big box—the size of a steamer trunk—that emits radio pulses. These pulses bounce off the bottom of the active layer, or the top of the permafrost. In this case, the timing of that reflection reveals how thick the active layer is. With handles designed for humans, Schaefer’s team drags this box around the Arctic’s boggier areas.  The box floats. “I do not,” he says. He has vivid memories of tromping through wetlands, his legs pushing straight down through the muck, his body sinking up to his hips. Andy Parsekian and Kevin Schaefer haul a ground penetrating radar unit through the tundra near Utqiagvik.COURTESY OF KEVIN SCHAEFER Zwieback also needs to verify what he infers from his space data. And so in 2022, he went to the Toolik Field station, a National Science Foundation–funded ecology research facility along the Dalton Highway and adjacent to Schaefer’s Toolik Lake. This road, which goes from Fairbanks up to the Arctic Ocean, is colloquially called the Haul Road; it was made famous in the TV show Ice Road Truckers. From this access point, Zwieback’s team needed to get deep samples of soil whose ice content could be analyzed in the lab. Every day, two teams would drive along the Dalton Highway to get close to their field sites. Slamming their car doors, they would unload and hop on snow machines to travel the final distance. Often they would see musk oxen, looking like bison that never cut their hair. The grizzlies were also interested in these oxen, and in the nearby caribou.  At the sites they could reach, they took out a corer, a long, tubular piece of equipment driven by a gas engine, meant to drill deep into the ground. Zwieback or a teammate pressed it into the earth. The barrel’s two blades rotated, slicing a cylinder about five feet down to ensure that their samples went deep enough to generate data that can be compared with the measurements made from space. Then they pulled up and extracted the cylinder, a sausage of earth and ice. All day every day for a week, they gathered cores that matched up with the pixels in radar images taken from space. In those cores, the ice was apparent to the eye. But Zwieback didn’t want anecdata. “We want to get a number,” he says. So he and his team would pack their soil cylinders back to the lab. There they sliced them into segments and measured their volume, in both their frozen and their thawed form, to see how well the measured ice content matched estimates from the space-based algorithm.  The initial validation, which took months, demonstrated the value of using satellites for permafrost work. The ice profiles that Zwieback’s algorithm inferred from the satellite data matched measurements in the lab down to about 1.1 feet, and farther in a warm year, with some uncertainty near the surface and deeper into the permafrost.  Whereas it cost tens of thousands of dollars to fly in on a helicopter, drive in a car, and switch to a snowmobile to ultimately sample a small area using your hands, only to have to continue the work at home, the team needed just a few hundred dollars to run the algorithm on satellite data that was free and publicly available.  Michaelides, who is familiar with Zwieback’s work, agrees that estimating excess ice content is key to making infrastructural decisions, and that historical methods of sussing it out have been costly in all senses. Zwieback’s method of using late-summer clues to infer what’s going on at that depth “is a very exciting idea,” he says, and the results “demonstrate that there is considerable promise for this approach.”  He notes, though, that using space-based radar to understand the thawing ground is complicated: Ground ice content, soil moisture, and vegetation can differ even within a single pixel that a satellite can pick out. “To be clear, this limitation is not unique to Simon’s work,” Michaelides says; it affects all space-radar methods. There is also excess ice below even where Zwieback’s algorithm can probe—something the labor-intensive on-ground methods can pick up that still can’t be seen from space.  Mapping out the future After Zwieback did his fieldwork, NGA decided to do its own. The agency’s attempt to independently validate his work—in Prudhoe Bay, Utqiagvik, and Fairbanks—was part of a project it called Frostbyte.  Its partners in that project—the Army’s Cold Regions Research Engineering Laboratory and Los Alamos National Laboratory—declined requests for interviews. As far as Zwieback knows, they’re still analyzing data.  But the intelligence community isn’t the only group interested in research like Zwieback’s. He also works with Arctic residents, reaching out to rural Alaskan communities where people are trying to make decisions about whether to relocate or where to build safely. “They typically can’t afford to do expensive coring,” he says. “So the idea is to make these data available to them.”  Zwieback and his team haul their gear out to gather data from drilled core samples, a process which can be arduous and costly.ANDREW JOHNSON Schaefer is also trying to bridge the gap between his science and the people it affects. Through a company called Weather Stream, he is helping communities identify risks to infrastructure before anything collapses, so they can take preventative action. Making such connections has always been a key concern for Erin Trochim, a geospatial scientist at the University of Alaska Fairbanks. As a researcher who works not just on permafrost but also on policy, she’s seen radar science progress massively in recent years—without commensurate advances on the ground. For instance, it’s still hard for residents in her town of Fairbanks—or anywhere—to know if there’s permafrost on their property at all, unless they’re willing to do expensive drilling. She’s encountered this problem, still unsolved, on property she owns. And if an expert can’t figure it out, non-experts hardly stand a chance. “It’s just frustrating when a lot of this information that we know from the science side, and [that’s] trickled through the engineering side, hasn’t really translated into the on-the-ground construction,” she says.  There is a group, though, trying to turn that trickle into a flood: Permafrost Pathways, a venture that launched with a $41 million grant through the TED Audacious Project. In concert with affected communities, including Nunapitchuk, it is building a data-gathering network on the ground, and combining information from that network with satellite data and local knowledge to help understand permafrost thaw and develop adaptation strategies.  “I think about it often as if you got a diagnosis of a disease,” says Sue Natali, the head of the project. “It’s terrible, but it’s also really great, because when you know what your problem is and what you’re dealing with, it’s only then that you can actually make a plan to address it.”  And the communities Permafrost Pathways works with are making plans. Nunapitchuk has decided to relocate, and the town and the research group have collaboratively surveyed the proposed new location: a higher spot on hardpacked sand. Permafrost Pathways scientists were able to help validate the stability of the new site—and prove to policymakers that this stability would extend into the future.  Radar helps with that in part, Natali says, because unlike other satellite detectors, it penetrates clouds. “In Alaska, it’s extremely cloudy,” she says. “So other data sets have been very, very challenging. Sometimes we get one image per year.” And so radar data, and algorithms like Zwieback’s that help scientists and communities make sense of that data, dig up deeper insight into what’s going on beneath northerners’ feet—and how to step forward on firmer ground.  Sarah Scoles is a freelance science journalist based in southern Colorado and the author, most recently, of the book Countdown: The Blinding Future of Nuclear Weapons.

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The Download: AI to detect child abuse images, and what to expect from our 2025 Climate Tech Companies to Watch list

This is today’s edition of The Download, our weekday newsletter that provides a daily dose of what’s going on in the world of technology. US investigators are using AI to detect child abuse images made by AIGenerative AI has enabled the production of child sexual abuse images to skyrocket. Now the leading investigator of child exploitation in the US is experimenting with using AI to distinguish AI-generated images from material depicting real victims, according to a new government filing. The Department of Homeland Security’s Cyber Crimes Center, which investigates child exploitation across international borders, has awarded a $150,000 contract to San Francisco–based Hive AI for its software, which can identify whether a piece of content was AI-generated. Read the full story. —James O’Donnell
Coming soon: our 2025 list of Climate Tech Companies to Watch
The need to cut emissions and adapt to our warming world is growing more urgent. This year, we’ve seen temperatures reach record highs, as they have nearly every year for the last decade. Climate-fueled natural disasters are affecting communities around the world, costing billions of dollars.  That’s why, for the past two years, MIT Technology Review has curated a list of companies with the potential to make a meaningful difference in addressing climate change (you can revisit the 2024 list here). We’re excited to share that we’ll publish our third edition of Climate Tech Companies to Watch on October 6. Here’s what you can expect from this year’s list. —Casey Crownhart The must-reads I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology. 1 ChatGPT’s parental controls are now liveThe model can now alert parents and law enforcement when users under 18-years old discuss self harm or suicide. (Wired $)+ The feature launches as chatbot makers face increasing pressure to improve safety. (Bloomberg $)+ The looming crackdown on AI companionship. (MIT Technology Review) 2 Companies’ AI spending is spiralling out of controlAnd it’s unclear whether they’ll ever get returns on their investments. (WSJ $)+ Some VCs are convinced AI is the best way to make a quick buck. (TechCrunch)+ Investors are wondering what to invest in beyond AI. (Reuters)

3 Even oil executives are worried by Trump’s attacks on offshore windCracking down on renewables now is bad news for traditional energy down the line. (NYT $)+ The scale of the Trump administration’s intervention is wild. (The Guardian)+ How to make clean energy progress under Trump in the states. (MIT Technology Review) 4 How America is winning the war on city firesMaking homes fire-resistant isn’t glamorous—but it’s essential. (Vox)+ How AI can help spot wildfires. (MIT Technology Review) 5 Top AI firms are going all-in on world modelsThey’re powered by videos and robotics data, not just language. (FT $)+ Experts are convinced they’re vital to creating the next wave of AI. (WSJ $) 6 China is rushing to electrify freight trucksNot content with dominating the electric car market, it’s eyeing bigger vehicles. (Rest of World)+ Sales of battery-powered cars are projected to plummet in the US. (NYT $) 7 What we lose when we rely on AI translationNuance and cultural context are among the first casualties. (WP $)+ How AI and Wikipedia have sent vulnerable languages into a doom spiral. (MIT Technology Review) 8 The tricky ethics of gene-editing the natural worldJust because we can, doesn’t mean we should. (Aeon)+ The short, strange history of gene de-extinction. (MIT Technology Review) 9 This robotics firm uses AI to clean the underside of giant ships 🚢Neptune Robotics has the lofty goal of becoming Uber for hull-cleaning. (Bloomberg $)10 Talent agents are desperate to sign this AI actressWe are living in the end times. (Deadline $)+ Why the Twin Peaks subreddit briefly became an AI slop dumping ground. (404 Media)+ An AI-powered hologram of Marvel Comics’ creator Stan Lee isn’t very popular. (Ars Technica)
Quote of the day “There’s so much pressure to be the company that went from zero to $100 million in X days.”
—An anonymous VC tells Fortune about the intense pressure on startups in the age of AI hype. One more thing How DeepSeek became a fortune teller for China’s youthAs DeepSeek has emerged as a homegrown challenger to OpenAI, young people across China have started using AI to revive fortune-telling practices that have deep roots in Chinese culture. People are sharing AI-generated readings, experimenting with fortune-telling prompt engineering, and revisiting ancient spiritual texts—all with the help of DeepSeek.The surge in AI fortune-telling comes during a time of pervasive anxiety and pessimism in Chinese society. And as spiritual practices remain hidden underground thanks to the country’s regime, computers and phone screens are helping younger people to gain a sense of control over their lives. Read the full story. —Caiwen Chen
We can still have nice things A place for comfort, fun and distraction to brighten up your day. (Got any ideas? Drop me a line or skeet ’em at me.) + This site lets you find out what was happening in the news on the day you were born. + This blistering track by South Korean band Silica Gel confirms rock is alive and well.+  Spend a few minutes exploring Hieronymus Bosch’s Garden of Earthly Delights.+ Play around with this map that allows you to explore movie settings around the world.

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Newsom signs 1 bill to speed geothermal approvals, vetoes another

Gov. Gavin Newsom, D-Calif., signed into law Monday a bill that will expand the California Energy Commission’s streamlined certification program to allow it to speed approvals for geothermal energy, but he vetoed a bill to speed approvals of well-drilling for geothermal exploratory projects. “In addition to delaying much-needed regulations that are already in process, the [Geologic Energy Management] Division would need to substantially increase fees on geothermal operators to implement the new requirements imposed by the bill,” Newsom wrote in his veto message for the second bill, AB527. Newsom said in the message that while he supports the expansion of geothermal energy in California “as a much-needed source of baseload clean power,” he thinks that the increased fees would disincentivize geothermal development “beyond any incentive provided by a [California Environmental Quality Act] exemption for one part of a project’s permitting process.” The governor also noted that he signed AB1359 last year, which reformed the approval process for geothermal exploration, and he thinks it is “prudent that we understand the effects of these changes before granting wholesale CEQA exemptions with costly and complicated conditions.” AB527 would have allowed geothermal exploratory projects that GEMD deems to meet certain criteria to also be presumed to “have satisfied the requirements of CEQA for the geothermal exploratory project, including to support the issuance of any permit, funding, or other approval by a state or local agency, as provided.” AB531, which Newsom signed, makes geothermal projects one of the types of projects that — once the state Energy Commission certifies them as an “environmental leadership development project” — can benefit from a streamlined approval process under CEQA. The other projects that can receive that certification are solar or wind farms generating 50 MW or more, energy storage systems capable of storing 200 MWh or more, power plants 50 MW or

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Citigroup Flags Oil Market’s Bearish Consensus

The broad mood in the oil market remains bearish, although there are discrepancies as to how gloomy crude’s prospects are, according to Citigroup Inc., summarizing views from clients in North America and Europe. “Conviction differs on the depth of downside,” analysts including Francesco Martoccia said in a note. “Some clients doubt that a price floor at $60 a barrel for Brent crude oil would be enough to induce a supply-and-demand reaction to balance a global liquids market generally seen heading for a surplus.” Oil prices have shed more than 10% this year, with global benchmark Brent posting back-to-back monthly losses in August and September. The weakness has been driven largely by expectations that supplies will run ahead of demand as OPEC+ loosens output curbs and rival drillers also step up production. Still, stockpiling by China has acted to support the market, with inventory builds so far seen concentrated away from the market’s main pricing centers. “Other clients expect a more moderate, orderly price correction, arguing that projected stock builds could continue to accumulate outside of key pricing hubs, certainly ex-Cushing,” the analysts said, referring to the storage hub in Oklahoma that’s the physical delivery point for West Texas Intermediate. The Organization of the Petroleum Exporting Countries and its allies endorsed another quota hike last weekend, although the increment — 137,000 barrels a day for November’s production — was smaller than some of the sums that had been reported in the run-up to the gathering. “Today’s slower non-OPEC+ growth and greater OPEC+ optionality, along with heightened geopolitical risks looming on large producers” such as Russia and Iran, could temper the pace of price adjustment, the analysts said. Brent futures — which tumbled 8% last week ahead of the OPEC+ supply decision — traded slightly lower at $65.80 a barrel on Thursday. “Within the energy complex, consensus

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USA Crude Oil Stocks Rise by Almost 4 Million Barrels WoW

U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 3.7 million barrels from the week ending September 26 to the week ending October 3, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. That report, which was released on October 8 and included data for the week ending October 3, showed that crude oil stocks, not including the SPR, stood at 420.3 million barrels on October 3, 416.5 million barrels on September 26, and 422.7 million barrels on October 4, 2024. The report highlighted that data may not add up to totals due to independent rounding. Crude oil in the SPR stood at 407.0 million barrels on October 3, 406.7 million barrels on September 26, and 382.9 million barrels on October 4, 2024, the report revealed. Total petroleum stocks – including crude oil, total motor gasoline, fuel ethanol, kerosene type jet fuel, distillate fuel oil, residual fuel oil, propane/propylene, and other oils – stood at 1.694 billion barrels on October 3, the report highlighted. Total petroleum stocks were down 0.9 million barrels week on week and up 52.2 million barrels year on year, the report showed. “At 420.3 million barrels, U.S. crude oil inventories are about four percent below the five year average for this time of year,” the EIA said in its latest weekly petroleum status report. “Total motor gasoline inventories decreased by 1.6 million barrels from last week and are about one percent below the five year average for this time of year. Finished gasoline inventories increased, while blending components inventories decreased last week,” it added. “Distillate fuel inventories decreased by 2.0 million barrels last week and are about six percent below the five year average for this time of year. Propane/propylene inventories decreased by 2.9 million

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Grid planners and experts on why markets keep choosing renewables

Listen to the article 11 min This audio is auto-generated. Please let us know if you have feedback. As electricity demand grows, alongside wind and solar’s share in the U.S. energy mix, concerns about renewables’ reliability are being raised more frequently — including at the highest levels of the federal government. “With the electricity grid, you have to match supply and demand in every moment in time,” Energy Secretary Chris Wright said recently on Fox News. “With wind and solar, you don’t know when they’re going to be there, and you don’t know when they’re going to go away.” Wright went on to say the development of renewables has led to an “extra distribution grid” that has raised energy prices.  But utility planners, grid operators and analysts say wind, solar and batteries are an important part of an evolving power system in which intermittent resources can be reliably scheduled and called upon using sophisticated software and other tools. They also point to both the levelized cost of electricity for renewables and their competitiveness in automated energy markets that select the least cost units to run in each hour. “System operators don’t decide whether resources bidding into the market are good or bad,” said Rob Gramlich, president of energy sector consultant Grid Strategies, in an interview. “There is no central decision maker,” he said. “Markets don’t play favorites.” ERCOT’s multi-resource price-selected portfolio for August 20, 2025, at 5:50 PM CDT ERCOT “dashboard” [jpg]. Retrieved from dashboard. With generators retiring, demand rising, and construction, financing, permitting and supply chain challenges growing, operators and analysts acknowledged concerns over the future of the U.S. power system. Many called for diversification of resources, including renewables and storage, to protect electricity reliability and affordability. “The objective of planning is a portfolio of diverse resources at the least cost

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Investor-owned utilities could spend $1.1T between 2025 and 2029: EEI

Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Electric utilities are on pace to spend nearly $208 billion on grid upgrades and expansions this year, the highest amount ever, the Edison Electric Institute said Tuesday. The group represents investor-owned utilities. And more growth in capital expenditures is on the way, as the sector rushes to meet growing demand, according to EEI’s 2024 financial review. The group’s members are projected to make capital expenditures of more than $1.1 trillion between 2025 and 2029. U.S electricity generation rose 3% in 2024 “and is expected to rise for the foreseeable future,” EEI said. Generation investments as a share of the industry’s total capital expenditures have risen for four straight years, it said. Dive Insight: After years of relatively stagnant growth, the electric sector is moving quickly to meet new demand from AI data centers, industrial expansion, electrification and other sources. The U.S. generated 4.3 million GWh in 2024, “the largest annual jump in five years,” EEI said. The group anticipates an annual growth rate of 1.7% through 2040, when domestic generation could surpass 5.4 million GWh.     Meeting the new demand requires significant grid investments. IOU capital expenditures grew more than 16% from 2024 to 2025, based on anticipated investments, EEI said. Permission granted by Edison Electric Institute “Our capital expenditures are higher than any other sector in the U.S. economy, outpacing transportation, retail, and other capital-intensive industries,” EEI President and CEO Drew Maloney wrote in a letter accompanying the report. “As always, we remain committed to keeping customer bills as low as possible as we work to deliver the reliable, secure electricity that is enabling innovation and enhancing the energy leadership of the United States.”   But some experts say retail consumers are footing the bill

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To keep energy affordable, Virginia must embrace power line innovation

Jeff Dennis is executive director of the Electricity Customers Alliance, a coalition that advocates for customer-centric solutions to grid modernization and energy affordability challenges. A modern economy requires modern energy solutions to meet the growing energy demand created by reshored manufacturing, increased electrification of homes, businesses, and vehicles, and — of course — data centers. Virginia and the Mid-Atlantic house the data center capital of the Western world, and the Commonwealth is positioned to lead America’s push to win the global artificial intelligence race. Data center growth can deliver many economic benefits to communities. However, this increased electricity demand requires smartly planned power infrastructure and a focus on short- and long-term solutions to address consumers’ concerns about their power bills. Planning and building electricity infrastructure to meet rapidly growing demand while keeping electricity affordable for all consumers will take time. However, data centers and manufacturers need power now to win the AI race and capture new economic opportunities in manufacturing and the digital economy. Virginia must capitalize on short-term opportunities to expand and maximize the use of our existing grid assets to deliver more power while setting the foundation for smart, long-term buildout of our shared electricity grid. To address this challenge, the General Assembly passed, and Gov. Glenn Youngkin signed, legislation to encourage deployment of advanced transmission technologies that maximize the amount of power that can be delivered from our existing lines. Beginning in 2026, the legislation requires the State Corporation Commission to consider the use of new power line technologies called “advanced conductors” when deciding how to bring more power supply onto the grid. Many other Mid-Atlantic states have followed Virginia’s lead in encouraging adoption of these technologies to help meet our needs today while establishing a foundation for an efficient future electricity system. That’s great news for consumers —

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