ENERGY

By Tsvetana Paraskova of OilPrice.com

The U.S. Department of Energy is allocating $2.2 billion in grants for upgrades of the grid to make it more resilient to extreme weather events and accommodate more renewable energy.

The funding from the DOE will add to private sector financing to support eight grid upgrade projects across 18 states.

According to the U.S. Administration, the DOE funding is expected to support the construction of more than 600 miles of new transmission (more…)

By Tsvetana Paraskova of Oilprice.com

Global oil demand is expected to rise by between 1.6 million and 2 million barrels per day (bpd) in the second half of the year, Saudi Aramco’s chief executive Amin Nasser said on Tuesday, noting that the past week’s selloff in oil doesn’t reflect fundamentals.

Aramco sees total global oil demand at 104.7 million bpd for the full-year 2024, the top executive of the world’s largest oil company said on the second-quarter (more…)

Authored by John Haughey via The Epoch Times (emphasis ours),

The nation’s utilities generated 5 percent more electricity during the first six months of 2024 than the first half of 2023 because of a hotter-than-normal start to summer and increasing power demands from the commercial sector, the Energy Information Administration (EIA) reported in its July Short-Term Energy Outlook.

The Kayenta Solar Plant in Kayenta, Ariz., on June 23, 2024. In late February, the U.S. Department (more…)