A building of Stockholm Exergi in Stockholm, Sweden, Sept. 5, 2022. He Miao | Xinhua | Getty Images Microsoft signed a deal to remove to permanently remove 3.3 million metric tons of carbon dioxide with Swedish energy company Stockholm Exergi, the companies announced on Monday. The contract with Microsoft is the world’s largest carbon removal … Read more
Natural gas demand will likely outpace expectations as electricity consumption surges from artificial intelligence and data centers, Chevron CEO Mike Wirth told CNBC on Monday. “It’s a little hard to quantify right now because this is evolving so quickly on the AI side,” Wirth told CNBC’s Sara Eisen at the Milken Institute’s Global Conference in … Read more
So the demand is there, as is growing support from the federal and state governments. What’s lagging is the workforce—at least temporarily. And the US is nowhere near alone: Wherever heat pump adoption is growing, more workers need to train up to meet demand. “If you look at a place like, say, Finland, where pretty … Read more
A chimney from the Linden Cogeneration Plant is seen in Linden New Jersey April 22, 2022. Kena Betancur | View Press | Corbis News | Getty Images Natural gas producers are planning for a significant spike in demand over the next decade, as artificial intelligence drives a surge in electricity consumption that renewables may struggle … Read more
The Biden administration wants the United States to triple the global supply of nuclear power, with American-designed reactors running on fuel enriched in the West. The goal: Usurp Russia’s near monopoly on atomic energy exports, and keep China from gaining control of yet another green energy industry. But there’s one big problem: The U.S. isn’t … Read more
VanWalleghem said there is room to push costs down as the company gains experience from these first few plants. The storage systems have a projected lifespan of about 50 years, which is an important data point when comparing it to battery systems, which have much shorter lives, he said. Yiyi Zhou, an analyst for BloombergNEF, … Read more
Melting an ice cube takes 3.34 x 105 joules per kilogram. So a single ice cube with a mass of 50 grams would take 16,700 joules. You can already see that melting stuff takes a bunch of energy. If you want to melt a metal door, you have to do two things—increase the temperature to … Read more
The Albemarle lithium processing facility in Kings Mountain, North Carolina, US, on Wednesday, Aug. 10, 2022. Logan Cyrus | Bloomberg | Getty Images Albemarle‘s plans to reopen a resource-rich lithium mine in North Carolina will take longer than originally expected as a collapse in lithium prices weighs on the company. Albemarle, a top lithium producer, … Read more
Coterra Energy topped Wall Street expectations Thursday with first-quarter results that further proved the Club holding’s nimble production strategy is the right one for shareholders. Revenue in the three months ended March 31 fell 19% year over year to $1.43 billion, beating the consensus forecast of $1.39 billion, according to analyst estimates compiled by LSEG. … Read more
Block reported first-quarter earnings after the bell that exceeded analysts’ estimates. The stock rose about 10% in extended trading. Here’s how the company did, compared to analysts’ consensus from LSEG. Earnings per share: 85 cents adjusted vs. 72 cents adjusted that was expected Revenue: $5.97 billion vs. $5.82 billion expected Block posted $2.09 billion in … Read more
