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USA Crude Oil Stocks Drop 2MM Barrels WoW
U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR) decreased by 2.0 million barrels from the week ending January 3 to the week ending January 10, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. Crude oil stocks, excluding the SPR, stood at 412.7 million barrels on January 10, 414.6 million barrels on January 3, and 429.9 million barrels on January 12, 2024, the EIA report revealed. Crude oil in the SPR came in at 394.3 million barrels on January 10, 393.8 million barrels on January 3, and 355.6 million barrels on January 12, 2024, the report showed. The EIA report highlighted that data may not add up to totals due to independent rounding. 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 1.625 billion barrels on January 10, the report revealed. This figure was down 2.9 million barrels week on week and up 6.6 million barrels year on year, the report outlined. “At 412.7 million barrels, U.S. crude oil inventories are about six percent below the five year average for this time of year,” the EIA noted in its report. “Total motor gasoline inventories increased by 5.9 million barrels from last week and are sightly below the five year average for this time of year. Finished gasoline inventories and blending components inventories increased last week,” it added. “Distillate fuel inventories increased by 3.1 million barrels last week and are about four percent below the five year average for this time of year. Propane/propylene inventories decreased by 4.7 million barrels from last week and are seven percent above the five year average for this time of year,” it continued. U.S. crude
AEP, DTE and 6 other utilities win $22.9B in conditional loan guarantees from DOE
Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. The U.S. Department of Energy on Thursday announced conditional loan commitments for eight utilities totaling almost $23 billion. If finalized, the loans would support investments in transmission, energy storage, grid modernization, gas pipelines and more. “Projects planned by the utilities announced today will add much-needed transmission capacity by building new transmission lines, reconductoring existing lines, and implementing grid-enhancing technologies that will get more out of existing grid,” DOE said. Additional investments include substation upgrades, virtual power plants and “strategically placed energy storage … New generation from wind, solar, and hydropower are planned at gigawatt scale,” DOE said. And along with investments in the power grid, the conditional loans would support replacing over 3,000 miles of “leaky natural gas distribution and main lines.” The loan guarantees would be provided through the Energy Infrastructure Reinvestment program, funded by the Inflation Reduction Act, and go to utilities serving almost 15 million customers across 12 states. Retrieved from U.S. Department of Energy. The largest award would go to DTE Electric, which could receive up to $7.17 billion in loan guarantees to help finance generation and battery storage in Michigan. Sister utility DTE Gas could receive up to $1.64 billion in loan guarantees to update large natural gas pipes and service distribution lines and to move metering infrastructure outdoors. Consumers Energy, a subsidiary of CMS Energy, could receive a $5.23 billion loan guarantee for investments through 2031 in solar generation, wind generation, battery storage, virtual power plant projects and the replacement of legacy natural gas pipelines. “If finalized, the loan guarantee will enable Consumers Energy to invest in reliability and energy security while significantly lowering costs for its customers,” DOE said. PacifiCorp could receive a $3.5 billion loan guarantee
2025 FERC, DOE Outlook: Surging demand growth to drive power-sector agenda
Listen to the article 13 min This audio is auto-generated. Please let us know if you have feedback. President-elect Donald Trump, set to be sworn in on Monday, is returning to the White House amid surging electricity demand, partly driven by planned data centers, new manufacturing facilities and electrification of the building and transportation sectors. That reality — starkly different from the flat demand growth during Trump’s first term from 2017 to 2021 — will drive the incoming administration’s power-related policies, according to experts. At the same time, there are more barriers to new power supply than probably during any previous era, such as state policies that make it hard to build infrastructure, according to Devin Hartman, director of energy and environmental policy at the R Street Institute, a market-oriented think tank. “You just cannot reconcile massive barriers to new supply with growing demand, and the situation that you inherit in the power sector is also the same set of conditions that constrain decarbonization,” he said. Hartman contends there is significant overlap between Republican priorities for lowering energy costs and boosting reliability with Democratic desires for developing clean energy. Those goals, for example, can all be facilitated by new transmission, he said. Trump moves quickly on nominations At least three agencies — the Federal Energy Regulatory Commission and the departments of Energy and Interior — will play major roles in the Trump administration’s efforts to spur new power supplies and slash energy costs. The Environmental Protection Agency will also have a role in those efforts. The incoming administration moved quickly with nominations to lead Energy, Interior and the EPA all announced in mid-November. The Senate is holding hearings this week on North Dakota Gov. Doug Burgum, R, Trump’s Interior secretary nominee and and prospective energy czar; former Rep. Lee Zeldin,
What’s on the agenda for Scottish Offshore Wind 2025 in Glasgow?
As the Scottish offshore wind sector prepares to gather in Glasgow next week, Energy Voice looks at the key items on the agenda for industry leaders. The Scottish Renewables Offshore Wind 2025 conference will take place at the SEC in Glasgow from 22-23 January. After a major stumble in 2023 when the fifth renewable auction round failed to secure any bids from UK developers, the offshore wind sector got “back on track” in 2024. The emerging floating wind sector also received a significant boost last year as the Green Volt project secured approval from the Scottish government. Inflationary pressures also eased, but the industry in Scotland still faces barriers to offshore wind deployment. These hurdles range from planning and grid connection delays to a lack of domestic manufacturing capacity and skills shortages. The election of a Labour government brought with it a clean power 2030 target, and the introduction of GB Energy and Mission Control. In 2024, the Glasgow event featured discussions around port infrastructure, transmission, community benefit and Contracts for Difference. With the industry set to gather in Glasgow once again next week, are there any clues for what’s in store for the Scottish offshore wind sector in 2025? GB Energy and green industrial strategy First up in Glasgow, day one will see industry leaders explore ways to accelerate progress in ramping up supply chain capacity to meet decarbonisation targets. Top of the agenda will be Labour’s flagship publicly owned GB Energy, as well as the Scottish government’s green industrial strategy. GB Energy chair Juergen Maier will headline the opening plenary, appearing alongside SSE Renewables head of offshore development Brian McFarlane and BlueFloat Energy Nadara Partnership UK managing director Susie Lind. The discussion will focus on ways the industry can collaborate with governments to tackle the barriers to offshore
TXO Identifies Potential 3 Tcfe of Gas in San Juan Basin
TXO Partners LP said Wednesday it has identified potential natural gas of nearly three trillion cubic feet equivalent in the Mancos Shale of the San Juan Basin in the Southwestern United States. “On an oil equivalent basis, we believe this could represent as much as five times our current total reserve base”, chair and chief executive Bob Simpson said in an online statement. “The catalyst for action in developing this project is commodity price, and we anticipate strong natural gas economics ahead”. The Fort Worth, Texas-based company holds production rights in a contiguous area of 58,500 acres in the Mancos field. It also holds water rights and an option for “key” gas gathering systems in the basin, according to TXO. “We believe the Mancos Shale development will be a game-changer for our reserve holdings and production potential”, added Gary Simpson, president for production and development. “TXO acreage and operations reside in prime position. Offset drilling on adjoining acreage has confirmed well results. “Given all the important criteria—reservoir characteristics, acreage location, productivity data, and infrastructure access—we have identified a tactical 3,520-acre block as phase I for developing and monetizing reserves, representing about six percent of our current Mancos position. “Specifically, our internal engineers estimate that this single position holds about 200 to 300 Bcf [billion cubic feet] of natural gas with 25 Bcfe estimated per drill well and has the potential to almost double our existing natural gas reserves. “Importantly, the company’s acres for exploitation are held by production with no leasehold expiration dates. “We expect to drill, develop, and monetize at an economically opportune time and pace”. TXO closed higher at $17.93 on the New York Stock Exchange on Wednesday. Last year TXO expanded with the acquisition of Williston Basin assets in Montana and North Dakota through separate transactions with
NW Natural Names Kim Rush as President
Northwest Natural Gas Co. (NW Natural) has announced that Kim Rush will become president of the company effective April 1, 2025. Rush is a long-serving executive of NW Natural, a unit of Northwest Natural Holding Co. (NW Natural Holdings). In a media release, NW Natural said Rush will assume full strategic, financial, and operational responsibilities for the company. The appointment coincides with Justin B. Palfreyman’s expected appointment as CEO of NW Natural Holdings and NW Natural, replacing the retiring David H. Anderson, the company said. Rush joined NW Natural in 1998 and has held various leadership roles in communications, marketing, and operations. In 2023, she was named senior vice president and chief operating officer, having previously served as chief marketing officer and chief corporate communications officer, NW Natural said. “Kim plays an integral role in how we operate every day and in how we show up outside our organization, including to customers and stakeholders. She has extensive knowledge of our gas utility and the critical role it plays in our regional energy system. She is highly respected by our industry peers and colleagues and is a strong leader within our senior executive team”, Justin B. Palfreyman, president of NW Natural Holdings, said. “I am so proud to have spent most of my career at NW Natural, where our team has a deep commitment to the communities we live in and where our core values really mean something”, Rush said. “I’m particularly excited to lead the utility at a time when the work we do is more important than ever to reliably serve our customers and support the regional energy system”. Before joining NW Natural, Rush held senior communications roles at Alltel Corp. and Bank of America in Chicago. She serves on the board of the Northwest Gas Association and is
USA Crude Oil Stocks Drop 2MM Barrels WoW
U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR) decreased by 2.0 million barrels from the week ending January 3 to the week ending January 10, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. Crude oil stocks, excluding the SPR, stood at 412.7 million barrels on January 10, 414.6 million barrels on January 3, and 429.9 million barrels on January 12, 2024, the EIA report revealed. Crude oil in the SPR came in at 394.3 million barrels on January 10, 393.8 million barrels on January 3, and 355.6 million barrels on January 12, 2024, the report showed. The EIA report highlighted that data may not add up to totals due to independent rounding. 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 1.625 billion barrels on January 10, the report revealed. This figure was down 2.9 million barrels week on week and up 6.6 million barrels year on year, the report outlined. “At 412.7 million barrels, U.S. crude oil inventories are about six percent below the five year average for this time of year,” the EIA noted in its report. “Total motor gasoline inventories increased by 5.9 million barrels from last week and are sightly below the five year average for this time of year. Finished gasoline inventories and blending components inventories increased last week,” it added. “Distillate fuel inventories increased by 3.1 million barrels last week and are about four percent below the five year average for this time of year. Propane/propylene inventories decreased by 4.7 million barrels from last week and are seven percent above the five year average for this time of year,” it continued. U.S. crude
AEP, DTE and 6 other utilities win $22.9B in conditional loan guarantees from DOE
Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. The U.S. Department of Energy on Thursday announced conditional loan commitments for eight utilities totaling almost $23 billion. If finalized, the loans would support investments in transmission, energy storage, grid modernization, gas pipelines and more. “Projects planned by the utilities announced today will add much-needed transmission capacity by building new transmission lines, reconductoring existing lines, and implementing grid-enhancing technologies that will get more out of existing grid,” DOE said. Additional investments include substation upgrades, virtual power plants and “strategically placed energy storage … New generation from wind, solar, and hydropower are planned at gigawatt scale,” DOE said. And along with investments in the power grid, the conditional loans would support replacing over 3,000 miles of “leaky natural gas distribution and main lines.” The loan guarantees would be provided through the Energy Infrastructure Reinvestment program, funded by the Inflation Reduction Act, and go to utilities serving almost 15 million customers across 12 states. Retrieved from U.S. Department of Energy. The largest award would go to DTE Electric, which could receive up to $7.17 billion in loan guarantees to help finance generation and battery storage in Michigan. Sister utility DTE Gas could receive up to $1.64 billion in loan guarantees to update large natural gas pipes and service distribution lines and to move metering infrastructure outdoors. Consumers Energy, a subsidiary of CMS Energy, could receive a $5.23 billion loan guarantee for investments through 2031 in solar generation, wind generation, battery storage, virtual power plant projects and the replacement of legacy natural gas pipelines. “If finalized, the loan guarantee will enable Consumers Energy to invest in reliability and energy security while significantly lowering costs for its customers,” DOE said. PacifiCorp could receive a $3.5 billion loan guarantee
2025 FERC, DOE Outlook: Surging demand growth to drive power-sector agenda
Listen to the article 13 min This audio is auto-generated. Please let us know if you have feedback. President-elect Donald Trump, set to be sworn in on Monday, is returning to the White House amid surging electricity demand, partly driven by planned data centers, new manufacturing facilities and electrification of the building and transportation sectors. That reality — starkly different from the flat demand growth during Trump’s first term from 2017 to 2021 — will drive the incoming administration’s power-related policies, according to experts. At the same time, there are more barriers to new power supply than probably during any previous era, such as state policies that make it hard to build infrastructure, according to Devin Hartman, director of energy and environmental policy at the R Street Institute, a market-oriented think tank. “You just cannot reconcile massive barriers to new supply with growing demand, and the situation that you inherit in the power sector is also the same set of conditions that constrain decarbonization,” he said. Hartman contends there is significant overlap between Republican priorities for lowering energy costs and boosting reliability with Democratic desires for developing clean energy. Those goals, for example, can all be facilitated by new transmission, he said. Trump moves quickly on nominations At least three agencies — the Federal Energy Regulatory Commission and the departments of Energy and Interior — will play major roles in the Trump administration’s efforts to spur new power supplies and slash energy costs. The Environmental Protection Agency will also have a role in those efforts. The incoming administration moved quickly with nominations to lead Energy, Interior and the EPA all announced in mid-November. The Senate is holding hearings this week on North Dakota Gov. Doug Burgum, R, Trump’s Interior secretary nominee and and prospective energy czar; former Rep. Lee Zeldin,
What’s on the agenda for Scottish Offshore Wind 2025 in Glasgow?
As the Scottish offshore wind sector prepares to gather in Glasgow next week, Energy Voice looks at the key items on the agenda for industry leaders. The Scottish Renewables Offshore Wind 2025 conference will take place at the SEC in Glasgow from 22-23 January. After a major stumble in 2023 when the fifth renewable auction round failed to secure any bids from UK developers, the offshore wind sector got “back on track” in 2024. The emerging floating wind sector also received a significant boost last year as the Green Volt project secured approval from the Scottish government. Inflationary pressures also eased, but the industry in Scotland still faces barriers to offshore wind deployment. These hurdles range from planning and grid connection delays to a lack of domestic manufacturing capacity and skills shortages. The election of a Labour government brought with it a clean power 2030 target, and the introduction of GB Energy and Mission Control. In 2024, the Glasgow event featured discussions around port infrastructure, transmission, community benefit and Contracts for Difference. With the industry set to gather in Glasgow once again next week, are there any clues for what’s in store for the Scottish offshore wind sector in 2025? GB Energy and green industrial strategy First up in Glasgow, day one will see industry leaders explore ways to accelerate progress in ramping up supply chain capacity to meet decarbonisation targets. Top of the agenda will be Labour’s flagship publicly owned GB Energy, as well as the Scottish government’s green industrial strategy. GB Energy chair Juergen Maier will headline the opening plenary, appearing alongside SSE Renewables head of offshore development Brian McFarlane and BlueFloat Energy Nadara Partnership UK managing director Susie Lind. The discussion will focus on ways the industry can collaborate with governments to tackle the barriers to offshore
TXO Identifies Potential 3 Tcfe of Gas in San Juan Basin
TXO Partners LP said Wednesday it has identified potential natural gas of nearly three trillion cubic feet equivalent in the Mancos Shale of the San Juan Basin in the Southwestern United States. “On an oil equivalent basis, we believe this could represent as much as five times our current total reserve base”, chair and chief executive Bob Simpson said in an online statement. “The catalyst for action in developing this project is commodity price, and we anticipate strong natural gas economics ahead”. The Fort Worth, Texas-based company holds production rights in a contiguous area of 58,500 acres in the Mancos field. It also holds water rights and an option for “key” gas gathering systems in the basin, according to TXO. “We believe the Mancos Shale development will be a game-changer for our reserve holdings and production potential”, added Gary Simpson, president for production and development. “TXO acreage and operations reside in prime position. Offset drilling on adjoining acreage has confirmed well results. “Given all the important criteria—reservoir characteristics, acreage location, productivity data, and infrastructure access—we have identified a tactical 3,520-acre block as phase I for developing and monetizing reserves, representing about six percent of our current Mancos position. “Specifically, our internal engineers estimate that this single position holds about 200 to 300 Bcf [billion cubic feet] of natural gas with 25 Bcfe estimated per drill well and has the potential to almost double our existing natural gas reserves. “Importantly, the company’s acres for exploitation are held by production with no leasehold expiration dates. “We expect to drill, develop, and monetize at an economically opportune time and pace”. TXO closed higher at $17.93 on the New York Stock Exchange on Wednesday. Last year TXO expanded with the acquisition of Williston Basin assets in Montana and North Dakota through separate transactions with
NW Natural Names Kim Rush as President
Northwest Natural Gas Co. (NW Natural) has announced that Kim Rush will become president of the company effective April 1, 2025. Rush is a long-serving executive of NW Natural, a unit of Northwest Natural Holding Co. (NW Natural Holdings). In a media release, NW Natural said Rush will assume full strategic, financial, and operational responsibilities for the company. The appointment coincides with Justin B. Palfreyman’s expected appointment as CEO of NW Natural Holdings and NW Natural, replacing the retiring David H. Anderson, the company said. Rush joined NW Natural in 1998 and has held various leadership roles in communications, marketing, and operations. In 2023, she was named senior vice president and chief operating officer, having previously served as chief marketing officer and chief corporate communications officer, NW Natural said. “Kim plays an integral role in how we operate every day and in how we show up outside our organization, including to customers and stakeholders. She has extensive knowledge of our gas utility and the critical role it plays in our regional energy system. She is highly respected by our industry peers and colleagues and is a strong leader within our senior executive team”, Justin B. Palfreyman, president of NW Natural Holdings, said. “I am so proud to have spent most of my career at NW Natural, where our team has a deep commitment to the communities we live in and where our core values really mean something”, Rush said. “I’m particularly excited to lead the utility at a time when the work we do is more important than ever to reliably serve our customers and support the regional energy system”. Before joining NW Natural, Rush held senior communications roles at Alltel Corp. and Bank of America in Chicago. She serves on the board of the Northwest Gas Association and is
USA Crude Oil Stocks Drop 2MM Barrels WoW
U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR) decreased by 2.0 million barrels from the week ending January 3 to the week ending January 10, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. Crude oil stocks, excluding the SPR, stood at 412.7 million barrels on January 10, 414.6 million barrels on January 3, and 429.9 million barrels on January 12, 2024, the EIA report revealed. Crude oil in the SPR came in at 394.3 million barrels on January 10, 393.8 million barrels on January 3, and 355.6 million barrels on January 12, 2024, the report showed. The EIA report highlighted that data may not add up to totals due to independent rounding. 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 1.625 billion barrels on January 10, the report revealed. This figure was down 2.9 million barrels week on week and up 6.6 million barrels year on year, the report outlined. “At 412.7 million barrels, U.S. crude oil inventories are about six percent below the five year average for this time of year,” the EIA noted in its report. “Total motor gasoline inventories increased by 5.9 million barrels from last week and are sightly below the five year average for this time of year. Finished gasoline inventories and blending components inventories increased last week,” it added. “Distillate fuel inventories increased by 3.1 million barrels last week and are about four percent below the five year average for this time of year. Propane/propylene inventories decreased by 4.7 million barrels from last week and are seven percent above the five year average for this time of year,” it continued. U.S. crude
AEP, DTE and 6 other utilities win $22.9B in conditional loan guarantees from DOE
Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. The U.S. Department of Energy on Thursday announced conditional loan commitments for eight utilities totaling almost $23 billion. If finalized, the loans would support investments in transmission, energy storage, grid modernization, gas pipelines and more. “Projects planned by the utilities announced today will add much-needed transmission capacity by building new transmission lines, reconductoring existing lines, and implementing grid-enhancing technologies that will get more out of existing grid,” DOE said. Additional investments include substation upgrades, virtual power plants and “strategically placed energy storage … New generation from wind, solar, and hydropower are planned at gigawatt scale,” DOE said. And along with investments in the power grid, the conditional loans would support replacing over 3,000 miles of “leaky natural gas distribution and main lines.” The loan guarantees would be provided through the Energy Infrastructure Reinvestment program, funded by the Inflation Reduction Act, and go to utilities serving almost 15 million customers across 12 states. Retrieved from U.S. Department of Energy. The largest award would go to DTE Electric, which could receive up to $7.17 billion in loan guarantees to help finance generation and battery storage in Michigan. Sister utility DTE Gas could receive up to $1.64 billion in loan guarantees to update large natural gas pipes and service distribution lines and to move metering infrastructure outdoors. Consumers Energy, a subsidiary of CMS Energy, could receive a $5.23 billion loan guarantee for investments through 2031 in solar generation, wind generation, battery storage, virtual power plant projects and the replacement of legacy natural gas pipelines. “If finalized, the loan guarantee will enable Consumers Energy to invest in reliability and energy security while significantly lowering costs for its customers,” DOE said. PacifiCorp could receive a $3.5 billion loan guarantee
2025 FERC, DOE Outlook: Surging demand growth to drive power-sector agenda
Listen to the article 13 min This audio is auto-generated. Please let us know if you have feedback. President-elect Donald Trump, set to be sworn in on Monday, is returning to the White House amid surging electricity demand, partly driven by planned data centers, new manufacturing facilities and electrification of the building and transportation sectors. That reality — starkly different from the flat demand growth during Trump’s first term from 2017 to 2021 — will drive the incoming administration’s power-related policies, according to experts. At the same time, there are more barriers to new power supply than probably during any previous era, such as state policies that make it hard to build infrastructure, according to Devin Hartman, director of energy and environmental policy at the R Street Institute, a market-oriented think tank. “You just cannot reconcile massive barriers to new supply with growing demand, and the situation that you inherit in the power sector is also the same set of conditions that constrain decarbonization,” he said. Hartman contends there is significant overlap between Republican priorities for lowering energy costs and boosting reliability with Democratic desires for developing clean energy. Those goals, for example, can all be facilitated by new transmission, he said. Trump moves quickly on nominations At least three agencies — the Federal Energy Regulatory Commission and the departments of Energy and Interior — will play major roles in the Trump administration’s efforts to spur new power supplies and slash energy costs. The Environmental Protection Agency will also have a role in those efforts. The incoming administration moved quickly with nominations to lead Energy, Interior and the EPA all announced in mid-November. The Senate is holding hearings this week on North Dakota Gov. Doug Burgum, R, Trump’s Interior secretary nominee and and prospective energy czar; former Rep. Lee Zeldin,
What’s on the agenda for Scottish Offshore Wind 2025 in Glasgow?
As the Scottish offshore wind sector prepares to gather in Glasgow next week, Energy Voice looks at the key items on the agenda for industry leaders. The Scottish Renewables Offshore Wind 2025 conference will take place at the SEC in Glasgow from 22-23 January. After a major stumble in 2023 when the fifth renewable auction round failed to secure any bids from UK developers, the offshore wind sector got “back on track” in 2024. The emerging floating wind sector also received a significant boost last year as the Green Volt project secured approval from the Scottish government. Inflationary pressures also eased, but the industry in Scotland still faces barriers to offshore wind deployment. These hurdles range from planning and grid connection delays to a lack of domestic manufacturing capacity and skills shortages. The election of a Labour government brought with it a clean power 2030 target, and the introduction of GB Energy and Mission Control. In 2024, the Glasgow event featured discussions around port infrastructure, transmission, community benefit and Contracts for Difference. With the industry set to gather in Glasgow once again next week, are there any clues for what’s in store for the Scottish offshore wind sector in 2025? GB Energy and green industrial strategy First up in Glasgow, day one will see industry leaders explore ways to accelerate progress in ramping up supply chain capacity to meet decarbonisation targets. Top of the agenda will be Labour’s flagship publicly owned GB Energy, as well as the Scottish government’s green industrial strategy. GB Energy chair Juergen Maier will headline the opening plenary, appearing alongside SSE Renewables head of offshore development Brian McFarlane and BlueFloat Energy Nadara Partnership UK managing director Susie Lind. The discussion will focus on ways the industry can collaborate with governments to tackle the barriers to offshore
TXO Identifies Potential 3 Tcfe of Gas in San Juan Basin
TXO Partners LP said Wednesday it has identified potential natural gas of nearly three trillion cubic feet equivalent in the Mancos Shale of the San Juan Basin in the Southwestern United States. “On an oil equivalent basis, we believe this could represent as much as five times our current total reserve base”, chair and chief executive Bob Simpson said in an online statement. “The catalyst for action in developing this project is commodity price, and we anticipate strong natural gas economics ahead”. The Fort Worth, Texas-based company holds production rights in a contiguous area of 58,500 acres in the Mancos field. It also holds water rights and an option for “key” gas gathering systems in the basin, according to TXO. “We believe the Mancos Shale development will be a game-changer for our reserve holdings and production potential”, added Gary Simpson, president for production and development. “TXO acreage and operations reside in prime position. Offset drilling on adjoining acreage has confirmed well results. “Given all the important criteria—reservoir characteristics, acreage location, productivity data, and infrastructure access—we have identified a tactical 3,520-acre block as phase I for developing and monetizing reserves, representing about six percent of our current Mancos position. “Specifically, our internal engineers estimate that this single position holds about 200 to 300 Bcf [billion cubic feet] of natural gas with 25 Bcfe estimated per drill well and has the potential to almost double our existing natural gas reserves. “Importantly, the company’s acres for exploitation are held by production with no leasehold expiration dates. “We expect to drill, develop, and monetize at an economically opportune time and pace”. TXO closed higher at $17.93 on the New York Stock Exchange on Wednesday. Last year TXO expanded with the acquisition of Williston Basin assets in Montana and North Dakota through separate transactions with
NW Natural Names Kim Rush as President
Northwest Natural Gas Co. (NW Natural) has announced that Kim Rush will become president of the company effective April 1, 2025. Rush is a long-serving executive of NW Natural, a unit of Northwest Natural Holding Co. (NW Natural Holdings). In a media release, NW Natural said Rush will assume full strategic, financial, and operational responsibilities for the company. The appointment coincides with Justin B. Palfreyman’s expected appointment as CEO of NW Natural Holdings and NW Natural, replacing the retiring David H. Anderson, the company said. Rush joined NW Natural in 1998 and has held various leadership roles in communications, marketing, and operations. In 2023, she was named senior vice president and chief operating officer, having previously served as chief marketing officer and chief corporate communications officer, NW Natural said. “Kim plays an integral role in how we operate every day and in how we show up outside our organization, including to customers and stakeholders. She has extensive knowledge of our gas utility and the critical role it plays in our regional energy system. She is highly respected by our industry peers and colleagues and is a strong leader within our senior executive team”, Justin B. Palfreyman, president of NW Natural Holdings, said. “I am so proud to have spent most of my career at NW Natural, where our team has a deep commitment to the communities we live in and where our core values really mean something”, Rush said. “I’m particularly excited to lead the utility at a time when the work we do is more important than ever to reliably serve our customers and support the regional energy system”. Before joining NW Natural, Rush held senior communications roles at Alltel Corp. and Bank of America in Chicago. She serves on the board of the Northwest Gas Association and is
Microsoft will invest $80B in AI data centers in fiscal 2025
And Microsoft isn’t the only one that is ramping up its investments into AI-enabled data centers. Rival cloud service providers are all investing in either upgrading or opening new data centers to capture a larger chunk of business from developers and users of large language models (LLMs). In a report published in October 2024, Bloomberg Intelligence estimated that demand for generative AI would push Microsoft, AWS, Google, Oracle, Meta, and Apple would between them devote $200 billion to capex in 2025, up from $110 billion in 2023. Microsoft is one of the biggest spenders, followed closely by Google and AWS, Bloomberg Intelligence said. Its estimate of Microsoft’s capital spending on AI, at $62.4 billion for calendar 2025, is lower than Smith’s claim that the company will invest $80 billion in the fiscal year to June 30, 2025. Both figures, though, are way higher than Microsoft’s 2020 capital expenditure of “just” $17.6 billion. The majority of the increased spending is tied to cloud services and the expansion of AI infrastructure needed to provide compute capacity for OpenAI workloads. Separately, last October Amazon CEO Andy Jassy said his company planned total capex spend of $75 billion in 2024 and even more in 2025, with much of it going to AWS, its cloud computing division.
John Deere unveils more autonomous farm machines to address skill labor shortage
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Self-driving tractors might be the path to self-driving cars. John Deere has revealed a new line of autonomous machines and tech across agriculture, construction and commercial landscaping. The Moline, Illinois-based John Deere has been in business for 187 years, yet it’s been a regular as a non-tech company showing off technology at the big tech trade show in Las Vegas and is back at CES 2025 with more autonomous tractors and other vehicles. This is not something we usually cover, but John Deere has a lot of data that is interesting in the big picture of tech. The message from the company is that there aren’t enough skilled farm laborers to do the work that its customers need. It’s been a challenge for most of the last two decades, said Jahmy Hindman, CTO at John Deere, in a briefing. Much of the tech will come this fall and after that. He noted that the average farmer in the U.S. is over 58 and works 12 to 18 hours a day to grow food for us. And he said the American Farm Bureau Federation estimates there are roughly 2.4 million farm jobs that need to be filled annually; and the agricultural work force continues to shrink. (This is my hint to the anti-immigration crowd). John Deere’s autonomous 9RX Tractor. Farmers can oversee it using an app. While each of these industries experiences their own set of challenges, a commonality across all is skilled labor availability. In construction, about 80% percent of contractors struggle to find skilled labor. And in commercial landscaping, 86% of landscaping business owners can’t find labor to fill open positions, he said. “They have to figure out how to do
2025 playbook for enterprise AI success, from agents to evals
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More 2025 is poised to be a pivotal year for enterprise AI. The past year has seen rapid innovation, and this year will see the same. This has made it more critical than ever to revisit your AI strategy to stay competitive and create value for your customers. From scaling AI agents to optimizing costs, here are the five critical areas enterprises should prioritize for their AI strategy this year. 1. Agents: the next generation of automation AI agents are no longer theoretical. In 2025, they’re indispensable tools for enterprises looking to streamline operations and enhance customer interactions. Unlike traditional software, agents powered by large language models (LLMs) can make nuanced decisions, navigate complex multi-step tasks, and integrate seamlessly with tools and APIs. At the start of 2024, agents were not ready for prime time, making frustrating mistakes like hallucinating URLs. They started getting better as frontier large language models themselves improved. “Let me put it this way,” said Sam Witteveen, cofounder of Red Dragon, a company that develops agents for companies, and that recently reviewed the 48 agents it built last year. “Interestingly, the ones that we built at the start of the year, a lot of those worked way better at the end of the year just because the models got better.” Witteveen shared this in the video podcast we filmed to discuss these five big trends in detail. Models are getting better and hallucinating less, and they’re also being trained to do agentic tasks. Another feature that the model providers are researching is a way to use the LLM as a judge, and as models get cheaper (something we’ll cover below), companies can use three or more models to
OpenAI’s red teaming innovations define new essentials for security leaders in the AI era
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More OpenAI has taken a more aggressive approach to red teaming than its AI competitors, demonstrating its security teams’ advanced capabilities in two areas: multi-step reinforcement and external red teaming. OpenAI recently released two papers that set a new competitive standard for improving the quality, reliability and safety of AI models in these two techniques and more. The first paper, “OpenAI’s Approach to External Red Teaming for AI Models and Systems,” reports that specialized teams outside the company have proven effective in uncovering vulnerabilities that might otherwise have made it into a released model because in-house testing techniques may have missed them. In the second paper, “Diverse and Effective Red Teaming with Auto-Generated Rewards and Multi-Step Reinforcement Learning,” OpenAI introduces an automated framework that relies on iterative reinforcement learning to generate a broad spectrum of novel, wide-ranging attacks. Going all-in on red teaming pays practical, competitive dividends It’s encouraging to see competitive intensity in red teaming growing among AI companies. When Anthropic released its AI red team guidelines in June of last year, it joined AI providers including Google, Microsoft, Nvidia, OpenAI, and even the U.S.’s National Institute of Standards and Technology (NIST), which all had released red teaming frameworks. Investing heavily in red teaming yields tangible benefits for security leaders in any organization. OpenAI’s paper on external red teaming provides a detailed analysis of how the company strives to create specialized external teams that include cybersecurity and subject matter experts. The goal is to see if knowledgeable external teams can defeat models’ security perimeters and find gaps in their security, biases and controls that prompt-based testing couldn’t find. What makes OpenAI’s recent papers noteworthy is how well they define using human-in-the-middle
Three Aberdeen oil company headquarters sell for £45m
Three Aberdeen oil company headquarters have been sold in a deal worth £45 million. The CNOOC, Apache and Taqa buildings at the Prime Four business park in Kingswells have been acquired by EEH Ventures. The trio of buildings, totalling 275,000 sq ft, were previously owned by Canadian firm BMO. The financial services powerhouse first bought the buildings in 2014 but took the decision to sell the buildings as part of a “long-standing strategy to reduce their office exposure across the UK”. The deal was the largest to take place throughout Scotland during the last quarter of 2024. Trio of buildings snapped up London headquartered EEH Ventures was founded in 2013 and owns a number of residential, offices, shopping centres and hotels throughout the UK. All three Kingswells-based buildings were pre-let, designed and constructed by Aberdeen property developer Drum in 2012 on a 15-year lease. © Supplied by CBREThe Aberdeen headquarters of Taqa. Image: CBRE The North Sea headquarters of Middle-East oil firm Taqa has previously been described as “an amazing success story in the Granite City”. Taqa announced in 2023 that it intends to cease production from all of its UK North Sea platforms by the end of 2027. Meanwhile, Apache revealed at the end of last year it is planning to exit the North Sea by the end of 2029 blaming the windfall tax. The US firm first entered the North Sea in 2003 but will wrap up all of its UK operations by 2030. Aberdeen big deals The Prime Four acquisition wasn’t the biggest Granite City commercial property sale of 2024. American private equity firm Lone Star bought Union Square shopping centre from Hammerson for £111m. © ShutterstockAberdeen city centre. Hammerson, who also built the property, had originally been seeking £150m. BP’s North Sea headquarters in Stoneywood, Aberdeen, was also sold. Manchester-based
2025 ransomware predictions, trends, and how to prepare
Zscaler ThreatLabz research team has revealed critical insights and predictions on ransomware trends for 2025. The latest Ransomware Report uncovered a surge in sophisticated tactics and extortion attacks. As ransomware remains a key concern for CISOs and CIOs, the report sheds light on actionable strategies to mitigate risks. Top Ransomware Predictions for 2025: ● AI-Powered Social Engineering: In 2025, GenAI will fuel voice phishing (vishing) attacks. With the proliferation of GenAI-based tooling, initial access broker groups will increasingly leverage AI-generated voices; which sound more and more realistic by adopting local accents and dialects to enhance credibility and success rates. ● The Trifecta of Social Engineering Attacks: Vishing, Ransomware and Data Exfiltration. Additionally, sophisticated ransomware groups, like the Dark Angels, will continue the trend of low-volume, high-impact attacks; preferring to focus on an individual company, stealing vast amounts of data without encrypting files, and evading media and law enforcement scrutiny. ● Targeted Industries Under Siege: Manufacturing, healthcare, education, energy will remain primary targets, with no slowdown in attacks expected. ● New SEC Regulations Drive Increased Transparency: 2025 will see an uptick in reported ransomware attacks and payouts due to new, tighter SEC requirements mandating that public companies report material incidents within four business days. ● Ransomware Payouts Are on the Rise: In 2025 ransom demands will most likely increase due to an evolving ecosystem of cybercrime groups, specializing in designated attack tactics, and collaboration by these groups that have entered a sophisticated profit sharing model using Ransomware-as-a-Service. To combat damaging ransomware attacks, Zscaler ThreatLabz recommends the following strategies. ● Fighting AI with AI: As threat actors use AI to identify vulnerabilities, organizations must counter with AI-powered zero trust security systems that detect and mitigate new threats. ● Advantages of adopting a Zero Trust architecture: A Zero Trust cloud security platform stops
Nvidia tackles agentic AI safety and security with new NeMo Guardrails NIMs
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More As the use of agentic AI continues to grow, so too does the need for safety and security. Today, Nvidia announced a series of updates to its NeMo Guardrails technology designed specifically to address the needs of agentic AI. The basic idea behind guardrails is to provide some form of policy and control for large language models (LLMs) to help prevent unauthorized and unintended outputs. The guardrails concept has been broadly embraced in recent years by multiple vendors, including AWS. The new NeMo Guardrails updates from Nvidia are designed to make it easier for organizations to deploy and provide more granular types of controls. NeMo Guardrails are now available as a NIM (Nvidia Inference Microservices), which are optimized for Nvidia’s GPUs. Additionally, there are three new specific NIM services that enterprises can deploy for content safety, topic control and jailbreak detection. The guardrails have been optimized for agentic AI deployments, rather than just singular LLMs. “It’s not just about guard-railing a model anymore,” Kari Briski, VP for enterprise AI models, software and services at Nvidia, said in a press briefing. “It’s about guard railing and a total system.” What the new NeMo Guardrails bring to enterprise Agentic AI Agentic AI use is expected to be a dominant trend in 2025. While agentic AI has plenty of benefits, it also brings new challenges, particularly around security, data privacy and governance requirements, which can create significant barriers to deployment. The three new NeMo Guardrails NIMs are intended to help solve some of those challenges. They include: Content Safety NIM: Trained on Nvidia’s Aegis content safety dataset with 35,000 human-annotated samples, this service blocks harmful, toxic and unethical content. Topic Control NIM: Helps ensure
The Download: what’s next for Neuralink, and Meta’s language translation AI
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. What to expect from Neuralink in 2025 In November, a young man named Noland Arbaugh announced he’d be livestreaming from his home for three days straight. His broadcast was in some ways typical fare: a backyard tour, video games, meet mom. The difference is that Arbaugh, who is paralyzed, has thin electrode-studded wires installed in his brain, which he used to move a computer mouse on a screen, click menus, and play chess. The implant, called N1, was installed last year by neurosurgeons working with Neuralink, Elon Musk’s brain-interface company.
Arbaugh’s livestream is an indicator that Neuralink is a whole lot closer to creating a plug-and-play experience that can restore people’s daily ability to roam the web and play games, giving them what the company has called “digital freedom.” But this is not yet a commercial product. The current studies are small-scale—they are true experiments, explorations of how the device works and how it can be improved. Read on for our analysis of what to expect from the company in 2025.
—Antonio Regalado Meta’s new AI model can translate speech from more than 100 languages What’s new: Meta has released a new AI model that can translate speech from 101 different languages. It represents a step toward real-time, simultaneous interpretation, where words are translated as soon as they come out of someone’s mouth. Why it matters: Typically, translation models for speech use a multistep approach which can be inefficient, and at each step, errors and mistranslations can creep in. But Meta’s new model, called SeamlessM4T, enables more direct translation from speech in one language to speech in another. Read the full story. —Scott J Mulligan Interest in nuclear power is surging. Is it enough to build new reactors?
Lately, the vibes have been good for nuclear power. Public support is building, and public and private funding have made the technology more economical in key markets. There’s also a swell of interest from major companies looking to power their data centers. These shifts have been great for existing nuclear plants. We’re seeing efforts to boost their power output, extend the lifetime of old reactors, and even reopen facilities that have shut down. That’s good news for climate action, because nuclear power plants produce consistent electricity with very low greenhouse-gas emissions.I covered all these trends in my latest story, which digs into what’s next for nuclear power in 2025 and beyond. But as I spoke with experts, one central question kept coming up for me: Will all of this be enough to actually get new reactors built? —Casey Crownhart This article is from The Spark, MIT Technology Review’s weekly climate and energy newsletter. To receive it in your inbox every Wednesday, sign up here. The must-reads I’ve combed the internet to find you today’s most fun/important/scary/fascinating stories about technology. 1 Donald Trump is exploring how to save TikTokAn executive order could suspend its ban or sale by up to 90 days. (WP $)+ But questions remain over the legality of such a move. (Axios)+ YouTuber MrBeast has said he’s interested in buying the app. (Insider $)+ The depressing truth about TikTok’s impending ban. (MIT Technology Review)
2 Blue Origin’s New Glenn rocket has made it into spaceBut it lost a booster along the way. (The Verge) 3 Angelenos are naming and shaming landlords for illegal price gougingA grassroots Google Sheet is tracking rentals with significant price increases among the wild fires. (Fast Company $)
4 How the Trump administration will shake up defense tech It’s likely to favor newer players over established firms for lucrative contracts. (FT $)+ Weapons startup Anduril plans to build a $1 billion factory in Ohio. (Axios)+ Palmer Luckey on the Pentagon’s future of mixed reality. (MIT Technology Review) 5 The difference between mistakes made by humans and AIMachines’ errors are a whole lot weirder, for a start. (IEEE Spectrum)+ A new public database lists all the ways AI could go wrong. (MIT Technology Review) 6 The creator economy is bouncing backFunding for creator startups is rising, after two years in the doldrums. (The Information $) 7 Predicting the future of tech is notoriously toughBut asking better initial questions is a good place to start. (WSJ $) 8 IVF isn’t just for combating fertility problems any moreIt’s becoming a tool for genetic screening before a baby is even born. (The Atlantic $)+ Three-parent baby technique could create babies at risk of severe disease. (MIT Technology Review) 9 The killer caterpillars could pave the way to better medicine 🐛Studying their toxic secretions could help create new drugs more quickly. (Knowable Magazine)
10 How to document your life digitallyIf physical diaries aren’t for you, there are plenty of smartphone-based options. (NYT $) Quote of the day “Americans may only be able to watch as their app rots.”
—Joseph Lorenzo Hall, a technologist at the nonprofit Internet Society, tells Reuters how TikTok’s complicated network of service providers means that the app could fall apart gradually, rather than all at once, if the proposed US ban goes ahead. The big story How refrigeration ruined fresh food October 2024 Three-quarters of everything in the average American diet passes through the cold chain—the network of warehouses, shipping containers, trucks, display cases, and domestic fridges that keep meat, milk, and more chilled on the journey from farm to fork. As consumers, we put a lot of faith in terms like “fresh” and “natural,” but artificial refrigeration has created a blind spot. We’ve gotten so good at preserving (and storing) food, that we know more about how to lengthen an apple’s life span than a human’s, and most of us don’t give that extraordinary process much thought at all. But all that convenience has come at the expense of diversity and deliciousness. Read the full story. —Allison Arieff 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.) + The biggest and best tours of 2025 look really exciting (especially Oasis!)+ If you love classic mobile phones, you need to check out Aalto University’s newly launched Nokia Design Archive immediately.+ The one and only Ridley Scott explains how a cigarette inspired that iconic hand-in-wheat shot in Gladiator.+ Set aside your reading goals for the year—your only aim should be to read the books you really want to.
Interest in nuclear power is surging. Is it enough to build new reactors?
This article is from The Spark, MIT Technology Review’s weekly climate newsletter. To receive it in your inbox every Wednesday, sign up here. Lately, the vibes have been good for nuclear power. Public support is building, and public and private funding have made the technology more economical in key markets. There’s also a swell of interest from major companies looking to power their data centers. These shifts have been great for existing nuclear plants. We’re seeing efforts to boost their power output, extend the lifetime of old reactors, and even reopen facilities that have shut down. That’s good news for climate action, because nuclear power plants produce consistent electricity with very low greenhouse-gas emissions. I covered all these trends in my latest story, which digs into what’s next for nuclear power in 2025 and beyond. But as I spoke with experts, one central question kept coming up for me: Will all of this be enough to actually get new reactors built?
To zoom in on some of these trends, let’s take a look at the US, which has the largest fleet of nuclear reactors in the world (and the oldest, with an average age of over 42 years). In recent years we’ve seen a steady improvement in public support for nuclear power in the US. Today, around 56% of Americans support more nuclear power, up from 43% in 2020, according to a Pew Research poll.
The economic landscape has also shifted in favor of the technology. The Inflation Reduction Act of 2022 includes tax credits specifically for operating nuclear plants, aimed at keeping them online. Qualifying plants can receive up to $15 per megawatt-hour, provided they meet certain labor requirements. (For context, in 2021, its last full year of operation, Palisades in Michigan generated over 7 million megawatt-hours.) Big Tech has also provided an economic boost for the industry—tech giants like Microsoft, Meta, Google, and Amazon are all making deals to get in on nuclear. These developments have made existing (or recently closed) nuclear power plants a hot commodity. Plants that might have been candidates for decommissioning just a few years ago are now candidates for license extension. Plants that have already shut down are seeing a potential second chance at life. There’s also the potential to milk more power out of existing facilities through changes called uprates, which basically allow existing facilities to produce more energy by tweaking existing instruments and power generation systems. The US Nuclear Regulatory Commission has approved uprates totaling six gigawatts over the past two decades. That’s a small but certainly significant fraction of the roughly 97 gigawatts of nuclear on the grid today. Any reactors kept online, reopened, or ramped up spell good news for emissions. But expanding the nuclear fleet in the US will require not just making the most of existing assets, but building new reactors. We’ll probably also need new reactors just to maintain the current fleet, since so many reactors are scheduled to be retired in the next couple of decades. Will the enthusiasm for keeping old plants running also translate into building new ones? In much of the world (China being a notable exception), building new nuclear capacity has historically been expensive and slow. It’s easy to point at Plant Vogtle in the US: The third and fourth reactors at that facility began construction in 2009. They were originally scheduled to start up in 2016 and 2017, at a cost of around $14 billion. They actually came online in 2023 and 2024, and the total cost of the project was north of $30 billion. Some advanced technology has promised to fix the problems in nuclear power. Small modular reactors could help cut cost and construction times, and next-generation reactors promise safety and efficiency improvements that could translate to cheaper, quicker construction. Realistically, though, getting these first-of-their-kind projects off the ground will still require a lot of money and a sustained commitment to making them happen. “The next four years are make or break for advanced nuclear,” says Jessica Lovering, cofounder at the Good Energy Collective, a policy research organization that advocates for the use of nuclear energy.
There are a few factors that could help the progress we’ve seen recently in nuclear extend to new builds. For one, public support from the US Department of Energy includes not only tax credits but public loans and grants for demonstration projects, which can be a key stepping stone to commercial plants that generate electricity for the grid. Changes to the regulatory process could also help. The Advance Act, passed in 2024, aims at sprucing up the Nuclear Regulatory Commission (NRC) in the hopes of making the approval process more efficient (currently, it can take up to five years to complete). “If you can see the NRC really start to modernize toward a more efficient, effective, and predictable regulator, it really helps the case for a lot of these commercial projects, because the NRC will no longer be seen as this barrier to innovation,” says Patrick White, research director at the Nuclear Innovation Alliance, a nonprofit think tank. We should start to see changes from that legislation this year, though what happens could depend on the Trump administration. The next few years are crucial for next-generation nuclear technology, and how the industry fares between now and the end of the decade could be very telling when it comes to how big a role this technology plays in our longer-term efforts to decarbonize energy. Related reading For more on what’s next for nuclear power, check out my latest story. One key trend I’m following is efforts to reopen shuttered nuclear plants. Here’s how to do it. Kairos Power is working to build molten-salt-cooled reactors, and we named the company to our list of 10 Climate Tech Companies to watch in 2024. Another thing Devastating wildfires have been ravaging Southern California. Here’s a roundup of some key stories about the blazes.
→ Strong winds have continued this week, bringing with them the threat of new fires. Here’s a page with live updates on the latest. (Washington Post) → Officials are scouring the spot where the deadly Palisades fire started to better understand how it was sparked. (New York Times)
→ Climate change didn’t directly start the fires, but global warming did contribute to how intensely they burned and how quickly they spread. (Axios) →The LA fires show that controlled burns aren’t a cure-all when it comes to preventing wildfires. (Heatmap News) → Seawater is a last resort when it comes to fighting fires, since it’s corrosive and can harm the environment when dumped on a blaze. (Wall Street Journal) Keeping up with climate US emissions cuts stalled last year, despite strong growth in renewables. The cause: After staying flat or falling for two decades, electricity demand is rising. (New York Times) With Donald Trump set to take office in the US next week, many are looking to state governments as a potential seat of climate action. Here’s what to look for in states including Texas, California, and Massachusetts. (Inside Climate News) The US could see as many as 80 new gas-fired power plants built by 2030. The surge comes as demand for power from data centers, including those powering AI, is ballooning. (Financial Times)
Global sales of EVs and plug-in hybrids were up 25% in 2024 from the year before. China, the world’s largest EV market, is a major engine behind the growth. (Reuters) A massive plant to produce low-emissions steel could be in trouble. Steelmaker SSAB has pulled out of talks on federal funding for a plant in Mississippi. (Canary Media) Some solar panel companies have turned to door-to-door sales. Things aren’t always so sunny for those involved. (Wired)
Botika raises $8M to change fashion photography with AI-generated fashion models
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Botika, a started focused on AI-generated fashion models, has raised $8 million and launched its new mobile iOS app. While human fashion models are not going to like this, Botika said that it empowers online clothing companies of all sizes with its AI-generated models that can make their clothing look good. The app, alongside the latest advancements to Botika’s generative AI platform, helps fashion brands create high-quality, on-model images for e-commerce. In addition to this announcement, Botika has successfully closed an $8 million seed funding round, co-led by Stardom, and Secret Chord Ventures, with participation from Seedcamp. Botika makes fashion model images available to all clothiers. This funding will drive continued product innovation and support the company’s expansion in the fashion industry, where it has achieved remarkable growth – multiplying its revenue by nine times and its customer base by eleven times in the past year. With this significant infusion of capital and the launch of the mobile app, Botika aims to provide an accessible, cost-effective solution to enable online clothing brands to enhance their visual content, improve sales, and reduce production costs. Botika’s unique AI technology is designed to aid brands in seamlessly transforming basic product images into professional, studio-quality shots, complete with AI generated models and backgrounds that reflect each brand’s aesthetic, with the company also training its own custom foundation models. More than half of shoppers rely on brand or retailer-provided imagery when deciding whether or not to purchase a piece of clothing. Yet, the production cost of a photography shoot for ecommerce can range anywhere from tens of thousands to hundreds of thousands of dollars per shoot, the company said. Botika’s AI generated fashion model addresses this critical pain point for fashion brands and breaks
What to expect from Neuralink in 2025
In November, a young man named Noland Arbaugh announced he’d be livestreaming from his home for three days straight. His broadcast was in some ways typical fare: a backyard tour, video games, meet mom. The difference is that Arbaugh, who is paralyzed, has thin electrode-studded wires installed in his brain, which he used to move a computer mouse on a screen, click menus, and play chess. The implant, called N1, was installed last year by neurosurgeons working with Neuralink, Elon Musk’s brain-interface company. The possibility of listening to neurons and using their signals to move a computer cursor was first demonstrated more than 20 years ago in a lab setting. Now, Arbaugh’s livestream is an indicator that Neuralink is a whole lot closer to creating a plug-and-play experience that can restore people’s daily ability to roam the web and play games, giving them what the company has called “digital freedom.” But this is not yet a commercial product. The current studies are small-scale—they are true experiments, explorations of how the device works and how it can be improved. For instance, at some point last year, more than half the electrode-studded “threads” inserted into Aurbaugh’s brain retracted, and his control over the device worsened; Neuralink rushed to implement fixes so he could use his remaining electrodes to move the mouse.
Neuralink did not reply to emails seeking comment, but here is what our analysis of its public statements leads us to expect from the company in 2025. More patients How many people will get these implants? Elon Musk keeps predicting huge numbers. In August, he posted on X: “If all goes well, there will be hundreds of people with Neuralinks within a few years, maybe tens of thousands within five years, millions within 10 years.”
In reality, the actual pace is slower—a lot slower. That’s because in a study of a novel device, it’s typical for the first patients to be staged months apart, to allow time to monitor for problems. Neuralink has publicly announced that two people have received an implant: Arbaugh and a man referred to only as “Alex,” who received his in July or August. Then, on January 8, Musk disclosed during an online interview that there was now a third person with an implant. “We’ve got now three patients, three humans with Neuralinks implanted, and they are all working …well,” Musk said. During 2025, he added, “we expect to hopefully do, I don’t know, 20 or 30 patients.” Barring major setbacks, expect the pace of implants to increase—although perhaps not as fast as Musk says. In November, Neuralink updated its US trial listing to include space for five volunteers (up from three), and it also opened a trial in Canada with room for six. Considering these two studies only, Neuralink would carry out at least two more implants by the end of 2025 and eight by the end of 2026. However, by opening further international studies, Neuralink could increase the pace of the experiments. Better control So how good is Arbaugh’s control over the mouse? You can get an idea by trying a game called Webgrid, where you try to click quickly on a moving target. The program translates your speed into a measure of information transfer: bits per second. Neuralink claims Arbaugh reached a rate of over nine bits per second, doubling the old brain-interface record. The median able-bodied user scores around 10 bits per second, according to Neuralink. And yet during his livestream, Arbaugh complained that his mouse control wasn’t very good because his “model” was out of date. It was a reference to how his imagined physical movements get mapped to mouse movements. That mapping degrades over hours and days, and to recalibrate it, he has said, he spends as long as 45 minutes doing a set of retraining tasks on his monitor, such as imagining moving a dot from a center point to the edge of a circle. Noland Arbaugh stops to calibrate during a livestream on X@MODDEDQUAD VIA X Improving the software that sits between Arbaugh’s brain and the mouse is a big area of focus for Neuralink—one where the company is still experimenting and making significant changes. Among the goals: cutting the recalibration time to a few minutes. “We want them to feel like they are in the F1 [Formula One] car, not the minivan,” Bliss Chapman, who leads the BCI software team, told the podcaster Lex Fridman last year. Device changes Before Neuralink ever seeks approval to sell its brain interface, it will have to lock in a final device design that can be tested in a “pivotal trial” involving perhaps 20 to 40 patients, to show it really works as intended. That type of study could itself take a year or two to carry out and hasn’t yet been announced.
In fact, Neuralink is still tweaking its implant in significant ways—for instance, by trying to increase the number of electrodes or extend the battery life. This month, Musk said the next human tests would be using an “upgraded Neuralink device.” The company is also still developing the surgical robot, called R1, that’s used to implant the device. It functions like a sewing machine: A surgeon uses R1 to thread the electrode wires into people’s brains. According to Neuralink’s job listings, improving the R1 robot and making the implant process entirely automatic is a major goal of the company. That’s partly to meet Musk’s predictions of a future where millions of people have an implant, since there wouldn’t be enough neurosurgeons in the world to put them all in manually. “We want to get to the point where it’s one click,” Neuralink president Dongjin Seo told Fridman last year. Robot arm Late last year, Neuralink opened a companion study through which it says some of its existing implant volunteers will get to try using their brain activity to control not only a computer mouse but other types of external devices, including an “assistive robotic arm.” We haven’t yet seen what Neuralink’s robotic arm looks like—whether it’s a tabletop research device or something that could be attached to a wheelchair and used at home to complete daily tasks. But it’s clear such a device could be helpful. During Aurbaugh’s livestream he frequently asked other people to do simple things for him, like brush his hair or put on his hat. Arbaugh demonstrates the use of Imagined Movement Control.@MODDEDQUAD VIA X And using brains to control robots is definitely possible—although so far only in a controlled research setting. In tests using a different brain implant, carried out at the University of Pittsburgh in 2012, a paralyzed woman named Jan Scheuermann was able to use a robot arm to stack blocks and plastic cups about as well as a person who’d had a severe stroke—impressive, since she couldn’t actually move her own limbs. There are several practical obstacles to using a robot arm at home. One is developing a robot that’s safe and useful. Another, as noted by Wired, is that the calibration steps to maintain control over an arm that can make 3D movements and grasp objects could be onerous and time consuming.
Vision implant In September, Neuralink said it had received “breakthrough device designation” from the FDA for a version of its implant that could be used to restore limited vision to blind people. The system, which it calls Blindsight, would work by sending electrical impulses directly into a volunteer’s visual cortex, producing spots of light called phosphenes. If there are enough spots, they can be organized into a simple, pixelated form of vision, as previously demonstrated by academic researchers. The FDA designation is not the same as permission to start the vision study. Instead, it’s a promise by the agency to speed up review steps, including agreements around what a trial should look like. Right now, it’s impossible to guess when a Neuralink vision trial could start, but it won’t necessarily be this year.
More money Neuralink last raised money in 2003, collecting around $325 million from investors in a funding round that valued the company at over $3 billion, according to Pitchbook. Ryan Tanaka, who publishes a podcast about the company, Neura Pod, says he thinks Neuralink will raise more money this year and that the valuation of the private company could triple. Fighting regulators Neuralink has attracted plenty of scrutiny from news reporters, animal-rights campaigners, and even fraud investigators at the Securities and Exchange Commission. Many of the questions surround its treatment of test animals and whether it rushed to try the implant in people. More recently, Musk has started using his X platform to badger and bully heads of state and was named by Donald Trump to co-lead a so-called Department of Government Efficiency, which Musk says will “get rid of nonsensical regulations” and potentially gut some DC agencies. During 2025, watch for whether Musk uses his digital bullhorn to give health regulators pointed feedback on how they’re handling Neuralink. Other efforts Don’t forget that Neuralink isn’t the only company working on brain implants. A company called Synchron has one that’s inserted into the brain through a blood vessel, which it’s also testing in human trials of brain control over computers. Other companies, including Paradromics, Precision Neuroscience, and BlackRock Neurotech, are also developing advanced brain-computer interfaces. Special thanks to Ryan Tanaka of Neura Pod for pointing us to Neuralink’s public announcements and projections.
Building resilience with AI threat modeling: Lessons from the Rate Companies
Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More Financial services firms are fighting off increasingly sophisticated identity-based attacks intent on stealing billions and disrupting transactions, ultimately destroying trust that took years to build. Cybercriminals continue to sharpen their tradecraft, targeting the industry’s gaps in identity security. From attempting to weaponize LLMs to using the latest adversarial AI techniques to steal identities and commit synthetic fraud, cybercriminals, crime syndicates and nation-state actors are all taking aim at financial services. Here’s how Rate Companies (formerly Guaranteed Rate) is battling back against these increasingly complex identity-based attacks — and what other industries and enterprise leaders can learn from their strategy. How Rate Companies is defending against AI-driven threats Financial institutions face more than $3.1 billion in exposure from synthetic identity fraud, which grew 14.2% in the past year, while deepfakes jumped by 3,000% and are projected to rise another 50 to 60% in 2024. Not to mention that smishing texts, MFA fatigue and deepfake impersonations have become alarmingly common. As the second-largest retail mortgage lender in the U.S., Rate has billions of sensitive transactions flowing through its systems daily, making the company a prime target for cybercriminals. VentureBeat recently sat down (virtually) with Katherine Mowen, the financial institution’s SVP of information security, to get insights into how she is orchestrating AI across Rate’s infrastructure, with a strong focus on protecting customer, employee and partner identities. “Because of the nature of our business, we face some of the most advanced and persistent cyber threats out there,” Mowen told VentureBeat. “We saw others in the mortgage industry getting breached, so we needed to ensure it didn’t happen to us. I think that what we’re doing right now is fighting AI with AI.” Mowen explained
USA Crude Oil Stocks Drop 2MM Barrels WoW
U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR) decreased by 2.0 million barrels from the week ending January 3 to the week ending January 10, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. Crude oil stocks, excluding the SPR, stood at 412.7 million barrels on January 10, 414.6 million barrels on January 3, and 429.9 million barrels on January 12, 2024, the EIA report revealed. Crude oil in the SPR came in at 394.3 million barrels on January 10, 393.8 million barrels on January 3, and 355.6 million barrels on January 12, 2024, the report showed. The EIA report highlighted that data may not add up to totals due to independent rounding. 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 1.625 billion barrels on January 10, the report revealed. This figure was down 2.9 million barrels week on week and up 6.6 million barrels year on year, the report outlined. “At 412.7 million barrels, U.S. crude oil inventories are about six percent below the five year average for this time of year,” the EIA noted in its report. “Total motor gasoline inventories increased by 5.9 million barrels from last week and are sightly below the five year average for this time of year. Finished gasoline inventories and blending components inventories increased last week,” it added. “Distillate fuel inventories increased by 3.1 million barrels last week and are about four percent below the five year average for this time of year. Propane/propylene inventories decreased by 4.7 million barrels from last week and are seven percent above the five year average for this time of year,” it continued. U.S. crude
AEP, DTE and 6 other utilities win $22.9B in conditional loan guarantees from DOE
Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. The U.S. Department of Energy on Thursday announced conditional loan commitments for eight utilities totaling almost $23 billion. If finalized, the loans would support investments in transmission, energy storage, grid modernization, gas pipelines and more. “Projects planned by the utilities announced today will add much-needed transmission capacity by building new transmission lines, reconductoring existing lines, and implementing grid-enhancing technologies that will get more out of existing grid,” DOE said. Additional investments include substation upgrades, virtual power plants and “strategically placed energy storage … New generation from wind, solar, and hydropower are planned at gigawatt scale,” DOE said. And along with investments in the power grid, the conditional loans would support replacing over 3,000 miles of “leaky natural gas distribution and main lines.” The loan guarantees would be provided through the Energy Infrastructure Reinvestment program, funded by the Inflation Reduction Act, and go to utilities serving almost 15 million customers across 12 states. Retrieved from U.S. Department of Energy. The largest award would go to DTE Electric, which could receive up to $7.17 billion in loan guarantees to help finance generation and battery storage in Michigan. Sister utility DTE Gas could receive up to $1.64 billion in loan guarantees to update large natural gas pipes and service distribution lines and to move metering infrastructure outdoors. Consumers Energy, a subsidiary of CMS Energy, could receive a $5.23 billion loan guarantee for investments through 2031 in solar generation, wind generation, battery storage, virtual power plant projects and the replacement of legacy natural gas pipelines. “If finalized, the loan guarantee will enable Consumers Energy to invest in reliability and energy security while significantly lowering costs for its customers,” DOE said. PacifiCorp could receive a $3.5 billion loan guarantee
2025 FERC, DOE Outlook: Surging demand growth to drive power-sector agenda
Listen to the article 13 min This audio is auto-generated. Please let us know if you have feedback. President-elect Donald Trump, set to be sworn in on Monday, is returning to the White House amid surging electricity demand, partly driven by planned data centers, new manufacturing facilities and electrification of the building and transportation sectors. That reality — starkly different from the flat demand growth during Trump’s first term from 2017 to 2021 — will drive the incoming administration’s power-related policies, according to experts. At the same time, there are more barriers to new power supply than probably during any previous era, such as state policies that make it hard to build infrastructure, according to Devin Hartman, director of energy and environmental policy at the R Street Institute, a market-oriented think tank. “You just cannot reconcile massive barriers to new supply with growing demand, and the situation that you inherit in the power sector is also the same set of conditions that constrain decarbonization,” he said. Hartman contends there is significant overlap between Republican priorities for lowering energy costs and boosting reliability with Democratic desires for developing clean energy. Those goals, for example, can all be facilitated by new transmission, he said. Trump moves quickly on nominations At least three agencies — the Federal Energy Regulatory Commission and the departments of Energy and Interior — will play major roles in the Trump administration’s efforts to spur new power supplies and slash energy costs. The Environmental Protection Agency will also have a role in those efforts. The incoming administration moved quickly with nominations to lead Energy, Interior and the EPA all announced in mid-November. The Senate is holding hearings this week on North Dakota Gov. Doug Burgum, R, Trump’s Interior secretary nominee and and prospective energy czar; former Rep. Lee Zeldin,
What’s on the agenda for Scottish Offshore Wind 2025 in Glasgow?
As the Scottish offshore wind sector prepares to gather in Glasgow next week, Energy Voice looks at the key items on the agenda for industry leaders. The Scottish Renewables Offshore Wind 2025 conference will take place at the SEC in Glasgow from 22-23 January. After a major stumble in 2023 when the fifth renewable auction round failed to secure any bids from UK developers, the offshore wind sector got “back on track” in 2024. The emerging floating wind sector also received a significant boost last year as the Green Volt project secured approval from the Scottish government. Inflationary pressures also eased, but the industry in Scotland still faces barriers to offshore wind deployment. These hurdles range from planning and grid connection delays to a lack of domestic manufacturing capacity and skills shortages. The election of a Labour government brought with it a clean power 2030 target, and the introduction of GB Energy and Mission Control. In 2024, the Glasgow event featured discussions around port infrastructure, transmission, community benefit and Contracts for Difference. With the industry set to gather in Glasgow once again next week, are there any clues for what’s in store for the Scottish offshore wind sector in 2025? GB Energy and green industrial strategy First up in Glasgow, day one will see industry leaders explore ways to accelerate progress in ramping up supply chain capacity to meet decarbonisation targets. Top of the agenda will be Labour’s flagship publicly owned GB Energy, as well as the Scottish government’s green industrial strategy. GB Energy chair Juergen Maier will headline the opening plenary, appearing alongside SSE Renewables head of offshore development Brian McFarlane and BlueFloat Energy Nadara Partnership UK managing director Susie Lind. The discussion will focus on ways the industry can collaborate with governments to tackle the barriers to offshore
TXO Identifies Potential 3 Tcfe of Gas in San Juan Basin
TXO Partners LP said Wednesday it has identified potential natural gas of nearly three trillion cubic feet equivalent in the Mancos Shale of the San Juan Basin in the Southwestern United States. “On an oil equivalent basis, we believe this could represent as much as five times our current total reserve base”, chair and chief executive Bob Simpson said in an online statement. “The catalyst for action in developing this project is commodity price, and we anticipate strong natural gas economics ahead”. The Fort Worth, Texas-based company holds production rights in a contiguous area of 58,500 acres in the Mancos field. It also holds water rights and an option for “key” gas gathering systems in the basin, according to TXO. “We believe the Mancos Shale development will be a game-changer for our reserve holdings and production potential”, added Gary Simpson, president for production and development. “TXO acreage and operations reside in prime position. Offset drilling on adjoining acreage has confirmed well results. “Given all the important criteria—reservoir characteristics, acreage location, productivity data, and infrastructure access—we have identified a tactical 3,520-acre block as phase I for developing and monetizing reserves, representing about six percent of our current Mancos position. “Specifically, our internal engineers estimate that this single position holds about 200 to 300 Bcf [billion cubic feet] of natural gas with 25 Bcfe estimated per drill well and has the potential to almost double our existing natural gas reserves. “Importantly, the company’s acres for exploitation are held by production with no leasehold expiration dates. “We expect to drill, develop, and monetize at an economically opportune time and pace”. TXO closed higher at $17.93 on the New York Stock Exchange on Wednesday. Last year TXO expanded with the acquisition of Williston Basin assets in Montana and North Dakota through separate transactions with
NW Natural Names Kim Rush as President
Northwest Natural Gas Co. (NW Natural) has announced that Kim Rush will become president of the company effective April 1, 2025. Rush is a long-serving executive of NW Natural, a unit of Northwest Natural Holding Co. (NW Natural Holdings). In a media release, NW Natural said Rush will assume full strategic, financial, and operational responsibilities for the company. The appointment coincides with Justin B. Palfreyman’s expected appointment as CEO of NW Natural Holdings and NW Natural, replacing the retiring David H. Anderson, the company said. Rush joined NW Natural in 1998 and has held various leadership roles in communications, marketing, and operations. In 2023, she was named senior vice president and chief operating officer, having previously served as chief marketing officer and chief corporate communications officer, NW Natural said. “Kim plays an integral role in how we operate every day and in how we show up outside our organization, including to customers and stakeholders. She has extensive knowledge of our gas utility and the critical role it plays in our regional energy system. She is highly respected by our industry peers and colleagues and is a strong leader within our senior executive team”, Justin B. Palfreyman, president of NW Natural Holdings, said. “I am so proud to have spent most of my career at NW Natural, where our team has a deep commitment to the communities we live in and where our core values really mean something”, Rush said. “I’m particularly excited to lead the utility at a time when the work we do is more important than ever to reliably serve our customers and support the regional energy system”. Before joining NW Natural, Rush held senior communications roles at Alltel Corp. and Bank of America in Chicago. She serves on the board of the Northwest Gas Association and is
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