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Adding to this bearish tone, the International Energy Agency (IEA) revised its global oil supply growth estimate higher by 380,000 barrels per day, citing rising OPEC+ output. Even as the IEA slightly raised its demand projection, the agency still forecasted a surplus for the upcoming year—a signal that supply could outpace consumption even in a recovery scenario. EIA Data Shows Surprise Inventory Build, Weakening Demand Signal Official inventory data from the U.S. Energy Information Administration (EIA) revealed a sharp 3.5 million barrel build in crude stockpiles—far above consensus expectations of a draw. Total U.S. inventories now stand at 441.8 million…
This week in ESG news: European Central Bank warns against watering down EU sustainability reporting rules; CDP restructures, aims to reduce sustainability reporting burden for companies; Shell faces new legal action over new oil & gas projects; Germany’s Merz looks to scrap EU sustainability due diligence law; Microsoft signs carbon credit mega-deal; L’Oréal to invest €100 million in sustainability innovations; EU lawmakers propose deeper cuts to sustainability reporting requirements; Gen Zs and Millennials integrating sustainability into career and consumption decisions; California moves forward with plans for $60 billion carbon pricing program; Republicans look to scrap billions in clean energy tax…
Matt Thurmond seems like a poster child for tech-forward millennials. He runs an AI-assisted platform for mortgage professionals. He leads a nonprofit that connects longevity researchers, investors, and startups. He was the copresident of a technology conference at Harvard, where he got his MBA.So it’s a little surprising that Thurmond is almost never on his phone.Count him among the “appstinent” — one of a growing number of Americans, mostly millennials and Zoomers, vowing to live a life free of endless scrolling. “Screen time was just crowding out other things,” says Thurmond, who’s 41. “That’s not where I want to get…
The divisions within the Liberals on climate and energy policy are “no secret”, senior frontbencher Anne Ruston has admitted, as the party braces for an internal brawl on net zero and nuclear power that could fracture the Coalition.The commitment from the new Liberal leader, Sussan Ley, to review its entire policy agenda has raised the prospect the Coalition could abandon net zero by 2050, ending bipartisan political support for the long-term climate target.On Sunday, the rightwing Liberal senator Alex Antic intensified his push to dump the goal, claiming it was the “only way this party is going to appeal to…
LONDON, Ky. (AP) — Storms that swept across part of the Midwest and South killed least 27 people including 18 in Kentucky, where another 10 were hospitalized in critical condition, authorities said. A devastating tornado in Kentucky damaged homes, tossed vehicles and left many people homeless. Seventeen of the deaths were in Laurel County, located in the state’s southeast, and one was in Pulaski County: Fire Department Maj. Roger Leslie Leatherman, a 39-year veteran who was fatally injured while responding to the deadly weather.Parts of two dozen state roads were closed, and some could take days to reopen, according to…
CAMPANA, Argentina (AP) — More than 2,000 people were ordered to evacuate rural areas north of Argentina’s capital after several days of heavy rainfall flooded highways, farmlands and entire neighborhoods. Rescue workers evacuate residents following heavy rains in Campana, Argentina, Saturday, May 17, 2025. (AP Photo/Rodrigo Abd) Rescue workers evacuate residents following heavy rains in Campana, Argentina, Saturday, May 17, 2025. (AP Photo/Rodrigo Abd)Read More Residents wade through flooded streets following heavy rains in Campana, Argentina, Saturday, May 17, 2025. (AP Photo/Rodrigo Abd) Residents wade through flooded streets following heavy rains in Campana, Argentina, Saturday, May 17, 2025. (AP Photo/Rodrigo…
The Chinese electric car manufacturer BYD is further expanding its activities in Hungary and plans to establish its European headquarters in the capital Budapest. A new European research and development centre is also to be built there. The new headquarters will be built in the 11th district of the Hungarian capital and, according to the company, will create “thousands of highly qualified jobs,” with media reports referring to an initial 2,000 jobs. There are also plans to work closely with at least three Hungarian universities to strengthen training and further education programmes and promote young talent. BYD is thus consolidating…
The California-based air taxi company Archer has been selected as the official air taxi provider for the Los Angeles 2028 Olympic and Paralympic Games. Under the partnership, Archer’s Midnight eVTOLs will be used throughout the LA28 games for a variety of applications. The eVTOL in question, the Midnight, is a piloted electric air taxi capable of carrying up to four passengers at once. It can reportedly reach aerial speeds of up to 241km/h (150mph) and is powered by six battery packs, each of which support one pair of a total twelve onboard engines. Archer claims its eVTOLs can be charged…
President Donald Trump wants to revive the struggling coal industry in the U.S. by deploying plants to power the data centers that the Big Tech companies are building to train artificial intelligence.Trump issued an executive order in April that directed his Cabinet to find areas of the U.S. where coal-powered infrastructure is available to support AI data centers and determine whether the infrastructure can be expanded to meet the growing electricity demand from the nation’s tech sector.Trump has repeatedly promoted coal as power source for data centers. The president told the World Economic Forum in January that he would approve…
President Donald Trump’s administration is deepening its review of more than $15 billion in grants and other support awarded by its predecessor for upgrading power grids and manufacturing energy technology. Energy Secretary Chris Wright is ordering the stepped-up scrutiny, with a plan for case-by-case reviews to ensure projects that won funding under former President Joe Biden are financially sound, aligned with US economic and security interests and consistent with the Trump administration’s policies, according to documents seen by Bloomberg News. The reviews will cover projects for modernizing the power grid, making batteries in the US and building other energy technology…