BetaShares Holdings Pty Ltd.

Trump administration shortens permit process for fossil fuel projects

Shipping Agencies Reach Global Fuel Emission Standard Agreement

The White House held meetings with oil refiners and biofuel producers to address disputes over U.S. biofuel-blending requirements and refinery waivers. The Trump administration is nearing a decision on whether larger refiners should compensate for waived gallons. The discussions also covered year-round availability of E15 gasoline and potential reforms to the small refinery waiver program. The outcome could affect fuel prices, farm incomes, and energy politics. The EPA has proposed accounting for waived obligations worth 2.18 billion RINs from 2023 to 2025.

marketscreener

White House hosts oil, biofuel talks as Trump administration nears decision on refinery waivers

Global fossil fuel emissions are projected to reach a record 38.1 billion tonnes of CO2 in 2025, marking a 1.1% increase from the previous year. This rise is attributed to growing energy demand, despite advancements in renewable technologies. The study warns that limiting global warming to 1.5C is now nearly impossible, with only 170 billion tonnes of CO2 remaining in the budget. The findings coincide with COP30 climate talks, highlighting the urgent need for nations to enhance their climate action efforts.

Yahoo Finance

World's fossil fuel emissions to hit new record in 2025: study

Data centers bear part of the blame for rising bills on the PJM Interconnection electric grid that serves more than 65 million people across 13 states.

CNBC

Skyrocketing electricity prices fuel political backlash against tech sector's AI data centers

Oil prices weakened but remained rangebound due to strong demand for refined products offsetting rising crude oil supply. WTI crude fell to $60.18 per barrel, while Brent oil dropped to $64.29. Robust supply from OPEC+ and American producers contrasts with reduced fuel supply from lower Russian exports. Demand may increase with the U.S. government reopening, potentially boosting energy spending. Traders await monthly forecasts from the Energy Information Administration and the International Energy Agency's report for insights on the expected global surplus.

fidelity

Oil Prices Weaken, But Remain Rangebound as Solid Fuel Demand Offsets Rising Supply

Trump plans to revive offshore oil drilling in California, Alaska, and the Gulf, reversing Biden's ban. This proposal, expected soon, aims to boost domestic energy production and lower fuel costs, following a court ruling against Biden's moratorium. While Trump claims it could cut energy costs by 50%, analysts warn of reluctance from producers to invest in costly offshore projects. The Interior Secretary has initiated plans for new lease sales, focusing on job creation and energy independence, though legal and environmental challenges may limit immediate production gains.

Investinglive

Trump plans new offshore oil drilling near California and Alaska

Japan's industry ministry announced a temporary increase in gasoline and diesel subsidies starting next week to mitigate the impact of upcoming tax cuts on these fuels. The government plans to eliminate the gasoline levy by December 31 and the diesel tax by April 1, 2024, to alleviate household burdens. The subsidies will rise incrementally, reaching 25.1 yen for gasoline and 17.1 yen for diesel by December 11, ending when the fuel taxes are abolished. Despite lower prices potentially boosting demand, gasoline consumption is declining due to population decrease and hybrid vehicle usage.

- Japan's industry ministry will temporarily increase gasoline and diesel subsidies starting next week to mitigate the impact of upcoming tax cuts on these fuels.  
- The government aims to prevent consumers from delaying purchases and to avoid long queues at gas stations due to potential price drops following the tax cuts.  
- Current subsidies will rise progressively, with the tax on gasoline and diesel set to be eliminated by the end of the year and early next year, respectively.

Reuters

Japan to temporarily hike fuel subsidies to smooth tax cut impact

Canada's new government under Mark Carney is shifting energy policies to align more closely with pro-fossil fuel approaches, moving away from the previous carbon cap that restricted oil and gas production. The updated budget signals a potential increase in Canadian oil and gas output, responding to industry pressures and market demands. Carney's strategy emphasizes investment in carbon markets and technology rather than prohibitive measures, aiming to enhance competitiveness while addressing emissions. This shift comes amid rising diesel and gasoline prices due to tight supplies and geopolitical factors affecting global oil markets.

Talkmarkets

Making Canada Great Again - The Energy Report

Oil prices fell 1% on Wednesday due to concerns of a potential global oil oversupply. Brent crude futures decreased by 79 cents, or 1.23%, to $63.65 a barrel, while U.S. West Texas Intermediate crude dropped by 81 cents, or 1.34%, to $59.75. However, strong U.S. fuel demand helped to limit the losses.

Oil dips on fears of oversupply; strong US fuel demand limits losses

U.S. crude oil inventories increased by 5.2 million barrels to 421.2 million barrels for the week ending Oct. 31, according to the EIA. This rise was attributed to a rebound in imports, which rose by 873,000 barrels a day to 5.9 million barrels. In contrast, gasoline stocks fell by 4.7 million barrels to 206 million barrels, while distillate fuel stocks decreased by 643,000 barrels to 111.5 million barrels. Refinery capacity use dropped to 86%.

U.S. Crude Oil Stockpiles Post Large Increase

Oil prices increased slightly as investors analyzed U.S. inventory data indicating stronger fuel demand, despite weaker economic indicators from major oil importers. Brent crude futures rose by 45 cents, or 0.7%, reaching $64.89 per barrel, recovering from a near two-week low. U.S. West Texas Intermediate crude also saw a rise of 46 cents.

Oil edges up as investors assess US fuel demand

Oil prices have fallen below $60 amid concerns over the Federal Reserve's interest rate decisions and a shaky stock market. Fed officials express caution about future rate cuts, while forecasts predict a colder winter, driving up natural gas and heating fuel costs. OPEC's limited spare capacity and strong diesel demand may influence market dynamics. The Trump administration is pushing to keep the J.H. Campbell coal plant operational, igniting controversy over energy policies. The American Petroleum Institute's supply report is anticipated, with expectations of continued strong demand for oil despite recent inventory drops.

Chilly Forecast - The Energy Report

OPEC+ plans to increase oil production amid an existing oil glut, while the US is also achieving record production levels. This surge in fossil fuel supply is expected to lead to a significant rise in fossil fuel usage as crude oil prices drop to levels comparable to renewable energy. Additionally, the Trump Administration is facilitating drilling activities in the US.

Huge Surge In Oil Supply Bad For Environment

Crude oil futures rose, ending a three-session losing streak, due to larger-than-expected draws in U.S. crude and product stockpiles. U.S. crude inventories fell by 6.9 million barrels, significantly below the five-year average. Gasoline and distillate stocks also saw substantial declines. Optimism over U.S.-China trade talks further supported prices, with President Trump anticipating a deal. December Nymex crude closed at $60.48/bbl, while Brent settled at $64.92/bbl. Analysts noted that the significant cuts in gasoline and diesel stocks were more price supportive than the crude supply decline.

Oil edges higher as U.S. crude, fuel inventories fell much more than expected

A new report from ABI Research indicates that the global deployment of 262 Small Modular Reactors (SMRs) is expected by 2040, driven by industrial electrification and green energy needs. SMRs, offering benefits like flexibility and rapid deployment, will provide 42 gigawatts of energy. Despite regulatory hurdles, government support and investment from companies like Amazon are fostering growth in the SMR sector, which is crucial for meeting future energy demands, especially for data centers.

prnewswire

Amazon

20:00 ET
			
			
				Energy Demands Fuel Global Nuclear Revival, With 262 Small Modular Reactors to Be Deployed by 2040

Singapore is allocating 300 hectares of land on Jurong Island for renewable energy facilities and a data centre park, as announced by the Economic Development Board and JTC Corporation. This initiative aims to enhance renewable energy projects, including solar and low-carbon fuel production, while also establishing Singapore's largest data centre park with a capacity of 700 megawatts. The development supports the growth of specialty chemicals and sustainable products, alongside expanding battery storage infrastructure on the island.