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
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
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
This article is part of our special report on the World Economic Forum’s annual meeting in Davos, Switzerland. As world leaders, chief executives and nonprofit leaders descend on Davos, Switzerland, for the annual meeting of the World Economic Forum next week, war will be raging about 1,000 miles away. Russia’s invasion of Ukraine almost one … Read more
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
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? 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
Benjamin Reynaga used power tools to hack his way into a beat-up hybrid Honda Fit at an auto dismantling plant at the edge of the Mojave Desert until he reached the most important part of the car: its lithium-ion battery. The vehicle itself was set to be crushed, but the battery would be treated with … Read more