Energy updates

** A next-generation geothermal plant backed by Google has started sending carbon-free electricity to the grid in Nevada, where the tech company operates some of its massive data centers. On Tuesday, Google and geothermal developer Fervo Energy said that electrons began flowing from the first-of-a-kind facility earlier this month reported Canary Media.

** Electricity in Kentucky is about to get a lot more planet-friendly, and it could make state residents’ energy bills a lot cheaper in the process. The state’s largest utility company, Louisville Gas and Electric and Kentucky Utilities, has gotten permission from state regulators to increase its solar and battery storage capacity by an incredible 900%.

** By 2040, 100% of Michigan’s energy is set to come from clean sources under a new law approved by Gov. Gretchen Whitmer on Tuesday. The state now has one of the most ambitious clean energy goals in the U.S., after Whitmer approved heavily debated bills that passed both chambers of the Legislature along party lines.

** US oil production is on the path to reach record highs in 2023, according to the Energy Information Administration (EIA), while active domestic oil rigs decline this year.


** Poland’s next government wants to accelerate the country’s exit from coal and boost green power sources in an overhaul of the current energy plan, said Paulina Hennig-Kloska, a lawmaker tipped to be climate minister.

** A Russian oil tanker sanctioned by Washington is still floating about 1,600 miles from the Indian port where it was due to unload as New Delhi grapples with a dilemma over whether to let the vessel dock.

** The Emirati president-designate for the upcoming United Nations COP28 climate talks forcefully denied Wednesday a report alleging his nation planned to use the summit to strike oil and gas deals.

** The cost of shipping fuels such as diesel across the Atlantic has soared to an almost 16-month high amid ongoing disruption at the Panama Canal.

** China’s oil refiners are spending billions of yuan to produce chemicals for the renewables sector, as the nation’s clean energy boom ripples through to even its dirtiest industries.

** Kingdom Holding Co., the investment company of Prince Alwaleed Bin Talal, has raised its stake in Citigroup Inc. to 2.2% after buying a $450 million stake from the Saudi billionaire.

** Panama’s government said it will shut a $10 billion copper mine owned by First Quantum Minerals Ltd., damping hopes that the company might reach a new deal to keep operating after a supreme court ruling against it.