Energy
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Markets rejoice as deal to reopen Hormuz nears, but U.S. forces conduct ‘self-defense strikes’ on Iranian missile sites and boats laying mines
Stock futures jumped while oil prices and bond yields tumbled Monday evening on reports that a deal to reopen the Strait of Hormuz was coming together, even as the U.S. military conducted new airstrikes on Iran. Futures tied to the Dow Jones industrial average surged 297 points, or 0.58%. S&P 500 futures were up 0.64%, and Nasdaq futures leapt…
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Oil drops as U.S. says deal with Iran and Hormuz reopening is near
Oil dropped as the US and Iran edged toward a deal, although President Donald Trump said that Washington’s blockade of the Strait of Hormuz would remain until an agreement was completed. Global crude benchmark Brent fell as much as 5.2% to $98.12 a barrel, while West Texas Intermediate was near $92. Trump said in social-media…
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Alaska’s oil revival sparks a new energy rush Into the Arctic
When John Kurz left Alaska’s North Slope in 2009, he was staring at a grim future for what had once been the country’s premiere oil field. Crude production had plummeted to 567,000 barrels per day, barely more than a quarter of the roughly 2 million barrels pumped daily at the field’s peak two decades earlier.…
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Nonprofit fraud isn’t surging. Enforcement is
Nonprofit fraud is in the news a lot these days. Federal investigators in Minnesota prosecuted one of the largest alleged COVID-19 pandemic fraud schemes, in which several nonprofits and individuals are accused of stealing about $250 million from a federally funded child nutrition program. The defendants were found guilty in 2025, three years after the…
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It took over a decade, but NextDecade’s longshot bet to lead Texas LNG is finally paying off
Near the U.S.-Mexico border—just a few miles from SpaceX Starbase—little-known NextDecade is on the verge of becoming the top exporter of natural gas out of Texas. Its massive complex, sprawling 1,000 acres along the Brownsville Ship Channel, took more than a decade to reach this point: surviving industry doubters, the sudden death of its founder,…
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Gavin Newsom takes rare step of telling Californians to avoid Chevron: ‘Big Oil is already making billions off Trump’s Iran War’
California Gov. Gavin Newsom is in a spat with a major oil company over who is to blame for the state’s high gas prices, with the Democratic governor’s office urging drivers not to fill up at Chevron stations over Memorial Day weekend. “Pro tip: unbranded gas comes from the same refineries, storage tanks, and pipelines,…
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Prices at the pump hit $4 a gallon in all 50 states—just as summer driving season begins
This week marked a discouraging milestone for American motorists. The average gas price is now on the wrong side of the $4 mark in every state in the country, an increase that coincides with the start of the busy summer driving season, which kicks off on Memorial Day weekend. GasBuddy, which tracks fuel pricing, said…
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2025 was a turning point for your electricity bill and it’s just getting more expensive from here. It’s not just data centers
Last year increasingly looks like a turning point for American electricity bills. Retail electricity prices rose 7% in 2025 alone, part of a nearly 40% climb since 2021 that has made this decade the fastest period of electricity price growth on record. Wholesale costs are now 6.1% higher than a year prior — almost double…
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NextEra’s $67 billion Dominion takeover creates the world’s largest utility—just in time to win the AI data-center power surge
NextEra Energy’s massive $67 billion deal to acquire Virginia-based Dominion, announced on May 18, will effectively build the world’s largest utility in a bid to dominate the AI data center boom. It’s a goal big enough that NextEra was willing to pay a hefty premium—and risk overpaying—to make it happen. On a call with analysts,…
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Ryanair’s CFO says the airline has plans for an ‘armageddon situation’ as the jet fuel crisis threatens weaker European airlines this winter
The chief financial officer of one of Europe’s most prolific low-cost airlines says the company has come up with a plan for a potential ‘armageddon situation’ triggered by high jet fuel prices as the Iran war drags on. Neil Sorahan, CFO of RyanAir, said persistently high jet fuel prices may cause some airlines that were…