ENERGY

In the latest of countless cautionary tales about green energy, a large-scale Texas solar farm has been devastated by a hail storm that took much of the facility off-line for an unknown duration. 

The March 15 storm battered thousands of panels with hail described as anywhere between golf ball- and baseball-sized. “They look like somebody took a shotgun and blasted it into the air and let the pellets fall down and shatter holes all in them,” awestruck Fort Bend County resident (more…)

Authored by Charles Kennedy via OilPrice.com,

• Weakening refining margins and carbon taxes put a fifth of global refining capacity at risk.

• Europe and China face the highest closure risk due to declining demand and environmental regulations.

• The rise of electric vehicles and biofuels is transforming the industry, potentially leading to widespread refinery closures.

More than 20% of the total global refining capacity is at some risk of closure as refining margins are (more…)

US crude futures pierced $85 for the first time since October, the latest milestone in a rally driven by OPEC+ production cuts, strong demand and heightened geopolitical risks.

As Bloomberg reports, oil has jumped this week as tensions rise in the Middle East, with Iran vowing revenge on Israel for an airstrike on its embassy in Syria that killed a top military commander.

After last week's surprise crude build and big jump in stocks at the Cushing hub, traders were (more…)