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Semafor Energy
🟡 Semafor Energy: Hormuz reality check
Why the Strait of Hormuz may be more porous than it seems, oil prices have ticked down despite Iran war stalemate, and US electricity demand soars.
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Houthis claim strikes on Saudi refinery
The strikes could impact the kingdom’s efforts to maintain shipping volumes amid ongoing disruptions in the Strait of Hormuz.
Khaled Abdullah/Reuters
US clean energy investment surges 22% in second quarter
The results, published by the Clean Investment Monitor, were largely driven by residential battery storage installations.
Mike Blake/Reuters
US power demand to hit new highs on data center buildout
The federal projections come after two years of record electricity demand peaks.
Shelby Tauber/Reuters
Oil prices sink despite Iran war stalemate
The industry’s outlook for global demand weakened, and the US showed signs of rebuilding its stocks.
Damaged oil tanker Caroline Bezengi, off the coast of Oman. Ambrey/Handout via Reuters.
Amazon’s new data center projected to be top source of US emissions
Amazon’s sustainability chief foresees a multi-year uptick in the company’s carbon footprint.
Brian Snyder/Reuters
US ‘overpaid’ for cancelled wind leases, researcher finds
A German power company agreed to cancel offshore wind development leases, bringing total reimbursements owed by US taxpayers to nearly $4 billion.
Michael Kooren/Reuters
US imposes new tariffs targeting China’s solar panel sector
Washington imposed a 15% tariff and price floors on all imported polysilicon on Friday, a crucial material in solar panels.
US oil reserves hit 43-year low
Washington has leaned heavily on reserves since the US-Iran war began.
Argentina’s fossil fuels boom gains momentum
Argentina’s shale output is up 28% year-on-year as the country’s pivot to become an energy supplier gather pace.
The US has a sanctions problem
Tehran and Muscat are scrapping over who will control the Strait of Hormuz, but for ships to actually start moving, it will require a new deal with Washington and a rethinking of US sanctions.
Emissions-tracking startups see M&A opportunities
Both the US and the EU have scaled back corporate emissions reporting requirements, which ASUENE CEO Kohei Nishiwada believes is a good time to push for growth.
Romania’s navy detonates part of Danube river to cool nuclear plant
Romanian naval forces blew up part of the drought-hit Danube river.
Firms move in on Venezuelan oil seven months post Maduro removal
Acting President Delcy Rodríguez has scrapped the rule requiring state-run PDVSA to hold majority stakes in joint ventures.
OPEC+ raises production targets
OPEC+ agreed on Sunday to raise oil production by 188,000 barrels a day in September, marking its sixth consecutive monthly increase as the group seeks to restore supply to a market strained by global conflicts.
The gold rush is on to build Gulf energy projects
A group of US and Saudi investors is looking to set up a port-connected “energy corridor” for producing and exporting around the Strait of Hormuz.
US emissions reductions fall short of Biden-era goals
The US is on track to reduce its greenhouse gas emissions by only 27-41% below 2005 levels by 2040, a new report found.
US lawmakers advance bill that targets Russian oil buyers
The proposal will face tough questions about whether it really helps Ukraine or merely empowers President Donald Trump’s global tariff war.
Oil prices hold steady as Iran war expands
The US and Iran renewed attacks while two vessels were hit in a suspected drone attack in Egypt.