AI Data Centers Push Power Prices to Crisis Levels
** AI data centers hit by winter storms this week surged electric costs to as high as $1,200 per megawatt-hour, as Northern Virginia’s hyperscale campuses powering AWS, Microsoft Azure, and other cloud platforms turned what should have been a manageable winter peak into a grid-straining crisis.
Offshore Wind Project Wins Court Challenge
** A federal judge ruled Tuesday that a nearly completed Massachusetts offshore wind project may continue construction, marking another legal victory for the offshore wind industry as it challenges Trump administration actions in court.
Trump Administration Opens California Offshore Leasing Process
** The Trump administration invited oil and gas companies to nominate areas for potential offshore oil and gas lease sales in Southern and Central California, a move aimed at expanding offshore drilling as early as next year, according to the Interior Department.
Nearly Half of EV Owners Consider Returning to Gas Vehicles
** Nearly half of U.S. electric vehicle owners say they are considering switching back to gasoline-powered cars, according to McKinsey & Co.’s 2024 Mobility Consumer Pulse study, which analyzed nearly one million data points highlighting growing dissatisfaction among EV drivers.
OPEC+ Signals March Production Pause
** OPEC+ is expected to maintain its pause on oil output increases for March, according to three delegates cited by Reuters, as prices rise following a drop in Kazakhstan’s oil production.
Iowa Lawmakers Target Carbon Pipeline Eminent Domain
** Iowa lawmakers advanced legislation through committee that would ban the use of eminent domain for carbon capture pipelines, intensifying resistance to carbon transport projects across the Midwest.
World Energy Brief
Chevron Pushes Iraq on Oilfield Returns
** Chevron is pressing Iraq to improve returns on the West Qurna 2 oil field as a condition for acquiring the project from Russia’s Lukoil, sources said, following Iraq’s nationalization of the field amid U.S. sanctions.
India Redirects Diesel Exports to West Africa
** India halted diesel exports to the European Union this month due to the EU’s ban on fuel derived from Russian crude, instead shipping record volumes to West Africa, according to data from Kpler and Vortexa.
Europe Imports LNG from Australia After U.S. Freeze
** Europe imported liquefied natural gas from Australia after Arctic weather froze key U.S. gas facilities, forcing traders to seek global LNG supplies amid storm-related disruptions.