Oil Giants, After Surge in Profits, Are Wary About Spending

Exxon Mobil made $56 billion in profit last year, its largest annual haul ever. Chevron earned $36 billion, also a company record. But after a bountiful 2022, the outlook for those companies and other big oil and gas producers is cloudy. They benefited for much of last year from higher prices for nearly all fuels … Read more

China’s Oil and Gas Use Fell in 2022 for First Time in Decades

With its economy severely hampered by stringent measures to curb the spread of Covid-19, China’s oil and gas consumption declined in 2022 for the first time in decades, the International Energy Agency said on Friday. But after China’s recent reversal of its lockdown policies, the agency’s executive director, Fatih Birol, said he expected a sharp … Read more

A Copper Mine Could Advance Green Energy but Scar Sacred Land

SUPERIOR, Ariz. — As Wendsler Nosie finished his evening prayers sitting before a mesquite fire, a ceremonial yucca staff festooned with eagle feathers by his side, he gazed sternly toward a distant mesa where mining companies hope to extract more than a billion tons of copper. That mine could help address climate change by helping … Read more

Korean Solar Company Plans to Build $2.5 Billion Plant in Georgia

The climate and tax bill President Biden signed in August to increase the use of green energy and electric cars while expanding domestic manufacturing appears to be yielding some results. A Korean solar company, Hanwha Qcells, announced on Wednesday that it would spend $2.5 billion to build a large manufacturing complex in Georgia. The plant … Read more

Why Are Energy Prices So High? Some Experts Blame Deregulation.

When California, New York, Texas and other states began deregulating their electricity markets in the 1990s, officials promised that those changes would foster competition and make energy more affordable. But it hasn’t worked out that way. Average retail electricity costs in the 35 states that have partly or entirely broken apart the generation, transmission and … Read more

Is a Dam in Rural Portugal a Key to Our Alternative Energy Future?

Is a Dam in Rural Portugal a Key to Our Alternative Energy Future? When the Portuguese electric power grid needs more electricity, a large multinational power company releases millions of gallons of water from a dammed reservoir. The Alto Tâmega dam under construction, one of three dams that are part of the giant pumped storage … Read more