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U.S. energy consumption will grow this year, the U.S. Energy Information Administration (EIA) projected in its latest short term energy outlook (STEO), which was released on May 6. In that STEO, the EIA forecast that total U.S. energy consumption will come in at 95.42 quadrillion British thermal units in 2025. Total U.S. energy consumption was 94.21 quadrillion British thermal units last year, the EIA’s latest STEO highlighted. In its previous STEO, which was released in April, the EIA projected that total U.S. energy consumption would hit 95.28 quadrillion British thermal units this year. That STEO pointed out that total U.S.…

Warehouse robotics specialist Robust.AI is teaming up with Foxconn to ramp up production of its Carter robots. The partnership will help Robust.AI keep up with growing demand and strengthen its supply chain. What’s RelatedThe Carter robot is designed to work alongside people in warehouses, helping move products, pick items, and sort packages. It doesn’t require any new infrastructure, and customers can switch between different tasks using software. According to Robust.AI, a recent deployment at a DHL facility in Las Vegas boosted picking productivity by more than 60% in just a few weeks. “As shifting supply chains and international tariffs add…

WASHINGTON (AP) — As nasty tornadoes popped up from Kansas to Kentucky, a depleted National Weather Service was in scramble mode.The agency’s office in Jackson, Kentucky, had begun closing nightly as deep cuts by Elon Musk’s Department of Government Efficiency began hitting. But the weather service kept staffers on overtime Friday night to stay on top of the deadly storms, which killed nearly 20 people in the Jackson office’s forecast area.It’s a scenario likely to be repeated as the U.S. is on track to see more tornadoes this year than in 2024, which was the second-busiest tornado year on record.…

ADNOC Gas PLC has qualified to be included in the MSCI Emerging Markets Index, which serves as a benchmark for the performance of large and mid-cap stocks in 24 emerging market countries, effective next month. “ADNOC Gas becomes the third ADNOC company to be admitted to the Index, and its inclusion marks a significant milestone in the Company’s ongoing efforts to enhance its global investment profile”, Abu Dhabi National Oil Co.’s (ADNOC) gas processing and sales arm said in an online statement. “The development is set to increase the Company’s visibility among international institutional investors, which could improve passive cash inflows…

At 09:55. Light Crude Oil Futures are trading $62.07, down $0.07 or -0.11%. OPEC+ Supply Constraints Hold Despite Russia-Ukraine Ceasefire Talks A potential ceasefire between Russia and Ukraine remains a headline driver, but analysts caution against assuming near-term impacts on oil flows. Even if peace negotiations progress, Russia’s OPEC+ obligations continue to restrict production, muting any immediate supply boost. While President Putin signaled openness to talks, U.S. President Donald Trump has refrained from fresh sanctions on Moscow, softening geopolitical risk premiums but offering no real supply clarity. US-Iran Nuclear Talks Pose Key Risk to Oil Prices Forecast The possibility of…

To hit on ideas that could eventually develop into breakthroughs, the “Godfather of AI,” Geoffrey Hinton, says you have to be “contrarian.””You have to have a deep belief that everybody else could be doing things wrong, and you could figure out how to do them right,” Hinton said in a recent interview with CBS. “And most people don’t believe that about themselves.”Hinton was awarded the 2024 Nobel Prize in Physics for his work in machine learning and has previously warned of the possible existential risks of AI.When asked about advice he’d give to the forthcoming generation of AI researchers, Hinton…

Sustainability reporting software provider Novisto announced today that it has raised $27 million in a Series C financing round, with proceeds aimed at enhancing its ESG software platform and accelerating its presence across Europe to address the “huge market opportunity” to streamline and simplify sustainability reporting. Founded in 2019, Montreal-based Novisto provides sustainability data management and reporting software for global enterprises, with solutions aimed at enabling companies to collect quantitative and qualitative ESG data, manage sustainability information while adapting to changes in frameworks and standards, and streamline sustainability reporting. To date, Novisto has raised more than $55 million, including an…

India has phased out about five gigawatts of gas-fired power capacity that became inoperable after being left idle for years, according to people familiar with the matter.Some of the plants had sold off machinery, while others had become so rusty they were no longer fit to use, the people said. They asked not to be named as they are not authorized to speak to the media.India’s gas power industry has struggled for years, largely thanks to high prices which made plants uncompetitive, complicating the government’s goal to more than double the share of the fuel in the energy mix by…

Reliance Industries Ltd (RIL) on Tuesday approached the Supreme Court challenging a recent decision by the division bench of the Delhi High Court that overturned a 2018 international arbitral award in its favour. The dispute centers around a $1.729 billion claim over gas migration from ONGC-operated blocks into RIL’s Krishna Godavari D6 (KG-D6) block in the Bay of Bengal.The division bench, comprising Justices Rekha Palli and Saurabh Banerjee, in February this year set aside the earlier ruling of a single judge who had upheld the arbitral tribunal’s award. That May 2023 decision had rejected the central government’s allegations of “insidious…

The Big Four — Deloitte, PwC, EY, and KPMG — are a select and powerful few. They dominate the professional services industry and have done so for decades.But all empires fall eventually. Large corporations tend to merge, transform, or get replaced by the latest wave of innovative upstarts.It’s hard to see that time coming for the Big Four. With huge revenues, international reach, vast workforces, and numerous service offerings, they’re indispensable for many corporations.Yet AI could be poised to disrupt their business models, organizational structure, and day-to-day roles, while driving opportunities for the mid-market.Automation is coming The Big Four advise…