Lockheed Martin reported a major breakthrough in research on compact, modular, and scalable nuclear fusion reactors this week, and estimates that as soon as ten years from now it may have a production unit ready for market.
Russia is reportedly reaching out to Japan to construct a gas pipeline that would connect Sakhalin and Hokkaido. This serves as a reminder of how important reliable oil and gas customers are for Moscow.
New research suggests that plants absorb much more carbon than previously thought, potentially explaining some of the problems with current climate models. Once again, the green claim that climate science is somehow “settled” is proven wrong.
American shale producers are nervously eying the plunging price of oil, concerned that fracking may cease being profitable in the U.S. For now, the price of oil exists in a sweet spot: high enough to keep the shale boom going, but low enough to put the pinch on petrostates like Russia.
Germany’s energy ministry refuted a report that it plans to phase out coal consumption, remarking that “exiting nuclear and coal-fired power generation at the same time would not be possible.” So much for the country’s green energy revolution.
Oil prices are plunging on surging supply and torpid demand, putting pressure on the world’s petrostates, which have come to rely on high prices just to balance their budgets. So why hasn’t OPEC moved to cut production?
Warsaw desperately wants to wean itself off of dependence on Russian natural gas, but exploration of domestic shale reserves (fracking) has so far been a disappointment.
The price of oil is tracking downward recently, which has many wondering why OPEC hasn’t responded by curtailing production. There looks to be some intra-cartel posturing going on ahead of a big meeting next month.
The price of oil is dropping by the day, and while plenty has been made of the effect this decline could have on the world’s petrostates, there’s a growing concern that America’s shale boom might be in danger.
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