** The Biden administration announced Thursday that it will pay $440 million to install solar panels in Puerto Rico. The Department of Energy (DOE) made the announcement Thursday, saying that the funding will lower energy costs for 30,000 to 40,000 single-family households in Puerto Rico and help improve the resilience of energy sources.
** Uranium prices are on a roll, with demand shooting up worldwide. Last Thursday, uranium traded at a whopping $73,1 the highest seen since 2008 and pre-Fukushima nuclear disaster levels. The surge in uranium prices over the past few months can be chalked up to the supply-demand dynamics in the industry.
** A CEO says a proposed $1 billion sustainable aviation fuel plant in South Dakota is at risk unless state regulators reverse course and support carbon capture pipelines.
** Following news that Ørsted canceled two major offshore wind farms, investors drive the company’s stock down 25%, plunging the price to a six-year low.
** A driver tried to crash through the exit gates of a South Carolina nuclear plant Thursday night about an hour after security asked the same car to leave when it tried to enter, authorities said.
** The Biden administration has postponed an auction for rights to drill for oil in the Gulf of Mexico, saying it’s waiting for further court direction. The administration had originally been slated to hold an offshore oil lease sale in September, as the rights auction was mandated to be held by the Democrats’ climate, tax and health care bill.
World
** U.S. coal exports increased by 5.7 million short tons (MMst) in the 12 months after EU sanctions on coal from Russia went into full effect in August 2022. The increase was driven almost exclusively by a 22% jump in U.S. coal exports to Europe.
** Loaded with minerals critical to the production of batteries and other renewable energy components, Zambia and the Democratic Republic of Congo have become the latest venue in the struggle for advantage between Washington and Beijing.
** A.P. Moller-Maersk A/S, a bellwether for global trade, fell after saying it’s cutting at least 10,000 jobs to shield its profitability in a shipping market that is set to remain weak until about 2026.
** Chevron Corp. will promote Javier La Rosa to run its operations in Latin America as it builds its presence in the region. La Rosa, who joined the oil giant in 2000, will be based in Buenos Aires and replace Eric Dunning, who is set to retire after a 40-plus year career at the company, Chevron said.
** France has famously strict standards for how its quality cheeses are made, but some cheesemakers say they’re getting harder and harder to meet. French cheesemakers told The New York Times that climate change is impacting their ability to follow traditional methods for quality cheeses.
** Activists demonstrating against a $4 billion oil pipeline in Uganda have been threatened and detained as non-governmental organizations in the country are scrutinized, according to a Human Rights Watch report.
** Britain’s race to net zero risks blinding crucial radars protecting the UK from incursions over the North Sea amid fears that Russia will launch a campaign of sabotage. Offshore wind farms blades interfere with radar signals and there are concerns that plans for a significant expansion of turbines in the North Sea by the end of the decade will cause problems for the Royal Air Force (RAF).
