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Category: Renewable energy/fossil fuels

U.S. diesel price tops $6 per gallon, a record high as Ukraine and Iran wars ripple through economy

U.S. diesel price tops $6 per gallon, a record high as Ukraine and Iran wars ripple through economy

CNBC reports: U.S. diesel prices hit $6 per gallon on Friday for the first time ever, as fuel supply disruptions triggered by the Ukraine and Iran wars raises transportation costs across the entire economy. Truckers and farmers are paying about 63% more to fill up their semis and tractors than they did at this time last year, according to data from AAA. The average price nationwide is now about $6.06 per gallon. Prices are even higher in California, the biggest…

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Oil’s rise past $100 per barrel deepens GOP’s midterm elections challenge

Oil’s rise past $100 per barrel deepens GOP’s midterm elections challenge

The Washington Post reports: As Republicans gather with President Donald Trump in Dallas this week in an effort to boost their sagging midterm elections prospects, their political challenges mounted with an ominous number flashing across financial terminals and news sites: $100. Brent crude, the global benchmark for oil, crossed that threshold Wednesday amid fresh fighting in Iran, dimming the GOP’s hopes that the high gas prices driving voter frustration would ease before ballots are cast. The elevated oil price is…

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Profiteer-in-Chief: Trump has made millions from war in Iran as oil investments rose

Profiteer-in-Chief: Trump has made millions from war in Iran as oil investments rose

CNBC reports: As President Donald Trump’s wartime directives in Iran repeatedly jolted global markets, his personal energy portfolio surged. Throughout the first six months of fighting, Trump’s investment accounts continued aggressively trading energy stocks. Between the eve of the war, on Feb. 27, and Aug. 31, his nine largest oil and gas holdings gained approximately $1.5 million to $4.4 million, according to a CNBC analysis of his annual financial disclosure, quarterly corporate reports and FactSet market data. CNBC identified the…

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Price of diesel hits a record high

Price of diesel hits a record high

NPR reports: The price of diesel has reached an all-time high, according to AAA. The national average for a gallon is now $5.85. That exceeds the previous high in June 2022, when the average for a gallon reached $5.81 a few months after Russia invaded Ukraine, according to AAA data. The record high is significant because diesel powers much of the industrial supply chain in the United States via the “three t’s” of the economy: trains, tractors, and trucks, says…

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The plot to steal Venezuela’s oil is both vile and deeply stupid

The plot to steal Venezuela’s oil is both vile and deeply stupid

Paul Krugman writes: The United States has an ugly reputation in Latin America — a reputation that, I’m sorry to say, is mostly well deserved. Our government has a long track record of supporting dictators, assisting in the overthrow of democratic governments, and sometimes even sending in the Marines, often on behalf of American corporations trying to pillage other nations’ natural resources. Excluding the Trump II presidency, we have, I think, behaved better in the recent past. And this was…

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‘A new form of U.S. colonialism’: Venezuelans bristle as Trump takes the oil and leaves the dictatorship

‘A new form of U.S. colonialism’: Venezuelans bristle as Trump takes the oil and leaves the dictatorship

The New York Times reports: Many Venezuelans suspected that there was going to be a price to pay for President Trump’s brazen capture of their autocratic leader, Nicolás Maduro, who was arrested by U.S. forces in January. On Friday, that cost became clear when Mr. Trump announced that the U.S. would be taking majority control of a vast part of Venezuela’s oil reserves — national resources long considered by many in the country to be a birthright. By Saturday, many…

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Trump says U.S. has entered deal with Venezuela to take control of 65 billion barrels of oil reserves

Trump says U.S. has entered deal with Venezuela to take control of 65 billion barrels of oil reserves

The Associated Press reports: President Donald Trump said Friday that his administration has entered a sweeping agreement with Venezuela that, if realized, could give the U.S. access to vast amounts of the South American country’s untapped oil reserves, at cost. Trump in a social media post announcing the agreement said it was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Venezuela’s acting President Delcy Rodríguez. “The United States of America has just entered into an Agreement…

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Trump seeks vast, potentially costly U.S. stake in Venezuelan oil industry

Trump seeks vast, potentially costly U.S. stake in Venezuelan oil industry

The Washington Post reports: The Trump administration is negotiating a long-term stake in a vast share of Venezuela’s oil fields, according to three people close to the discussions, a costly and legally precarious proposal that aims to nudge reluctant energy companies to drill in the risky region. The contours of the plan, which is still evolving and could change or fall apart, would involve the United States taking more direct control over Venezuelan reserves as crime and steep logistical challenges…

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New tariffs and expired tax credits put a dent in U.S. solar panel sales, but there’s reason for optimism

New tariffs and expired tax credits put a dent in U.S. solar panel sales, but there’s reason for optimism

By Dan Gearino August 27, 2026 This article originally appeared on Inside Climate News, a nonprofit, non-partisan news organization that covers climate, energy and the environment. Sign up for their newsletter here. Rooftop solar installers feel like a dog that’s been repeatedly kicked. President Donald Trump has made solar more expensive—or at least slowed the long-term decline in costs—by imposing tariffs on imported photovoltaic panels and other parts. Trump also signed a measure last year that phased out the main…

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Depleted strategic oil reserve nears level that raises concerns about damage to storage caverns

Depleted strategic oil reserve nears level that raises concerns about damage to storage caverns

CNBC reports: The caverns that hold the U.S. strategic oil reserves could get damaged by the rapid release of stockpiles in response to the Iran war, experts warned this week as inventories hit a four-decade low. Damage to the caverns would make it more difficult to respond to future energy emergencies, the experts said. The oil in the Strategic Petroleum Reserve (SPR) is stored at 60 salt caverns thousands of feet underground at four major sites along the Gulf Coast…

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The real reason why data center gas power plants are so dirty

The real reason why data center gas power plants are so dirty

Wired reports: Amazon has acquired a massive off-grid power plant being built in Texas for one of its data centers that could be one of the biggest sources of greenhouse gas emissions in the US. But size isn’t the only reason its climate toll will be so high. The plant will rely on a much less efficient set of gas turbines than regular power plants use; these kinds of turbines are also increasingly being put to use at other data…

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Samuel Alito gained up to $2.9m from oil and gas assets since joining Supreme Court, analysis shows

Samuel Alito gained up to $2.9m from oil and gas assets since joining Supreme Court, analysis shows

The Guardian reports: The supreme court justice Samuel Alito gained up to $2.9m from his fossil fuel interests between 2005 and 2024, a new review of financial disclosures shows. The analysis from the non-profit advocacy group and judicial watchdog Court Accountability, shared exclusively with the Guardian, found that even at the lowest range of estimates, Alito gained almost $400,000 from his oil and gas interests since being tapped for the high court by George W Bush in 2005. The findings…

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How AI will accelerate climate change by boosting fossil fuel production

How AI will accelerate climate change by boosting fossil fuel production

The Guardian reports: AI-driven productivity gains enable more planet-heating pollution from fossil fuels than they avoid from renewables, a study has found. Researchers modelled the technical potential for AI to boost clean power generation along with projections for how it can help produce coal, oil and gas. Across 64 scenarios, they found net yearly carbon pollution rose by 0.47-1.8 gigatonnes, or about 1-5% of the energy sector’s annual emissions. The study is the first to quantify the climate impact of…

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Iran insists Strait of Hormuz will stay closed until U.S. complies with demands

Iran insists Strait of Hormuz will stay closed until U.S. complies with demands

The New York Times reports: Iran said on Monday that any deal with Oman on shipping in the Strait of Hormuz would not lead to the waterway being fully reopened and that the route would remain closed until the United States agreed to demands including lifting a naval blockade. The comments were the latest sign that Iran sees its grip on the strait — which has driven up global energy prices, creating a political headache for President Trump — as…

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Iran issues list of demands, complicating efforts to reopen Strait of Hormuz

Iran issues list of demands, complicating efforts to reopen Strait of Hormuz

The New York Times reports: A top Iranian national security official delivered a sweeping set of demands on Saturday that he said the United States must meet before the Strait of Hormuz can reopen to maritime traffic, throwing the fate of the critical trade waterway into question. Mohammad Bagher Zolghadr, the secretary of Iran’s Supreme National Security Council, issued a statement carried by state media laying out multiple requirements for reopening the strait. He called for the United States to…

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Greenland issues ‘strong warning’ as Trump-linked oil firm prepares to drill

Greenland issues ‘strong warning’ as Trump-linked oil firm prepares to drill

The Guardian reports: An American oil company connected to Donald Trump is preparing to sink wells in remote Greenland despite not having received permission from the local authorities. As the US president renews his threats to claim the vast Arctic territory, materials to prepare for drilling were brought ashore in recent days on Greenland’s eastern coast. That has prompted Greenland’s government to issue a “strong warning” that no approval had been granted to land the kit. “All future logistical matters…

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