Governor Gavin Newsom’s California has perfected a special skill: taking ordinary life and making it more expensive, less reliable, and more bureaucratic—all in the name of climate virtue. The latest exhibit is the California Energy Commission’s unanimous approval of the nation’s first efficiency standards for replacement tires. These rules, effective in phases starting in 2029 […]
Continue Reading
The U.S. diesel crack spread—the premium of ultra-low sulfur diesel (ULSD) futures over West Texas Intermediate (WTI) crude—has shattered every historical record. On Monday, August 17, 2026, it surged to an intraday all-time high of $102.20 per barrel and settled in triple digits for the first time, hovering around $100 the following day. For context, […]
Continue Reading
The elusive hydrogen economy continues to face setbacks as another high-profile green hydrogen initiative collapses under the weight of economic and regulatory uncertainties. The HyScale 100 project at Raffinerie Heide in Schleswig-Holstein, northern Germany, has been canceled for the second time, highlighting the persistent difficulties in scaling clean hydrogen production and the broader challenges of […]
Continue Reading
Geopolitical risks are colliding across multiple theaters in early August 2026, creating a perfect storm for energy markets. The Strait of Hormuz is flaring again, with Iranian loadings collapsing toward zero. Saudi Arabia’s Jazan refinery has been hit by Houthi drones for the second time in weeks. Ukraine continues deep strikes on Russian refining infrastructure, […]
Continue Reading
On August 7, 2026, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sweeping sanctions targeting digital asset exchanges and networks used by the Iranian regime to launder funds, evade sanctions, and support the Islamic Revolutionary Guard Corps (IRGC) and other terrorist groups. The action hits two major platforms exploited by […]
Continue Reading
On the night of August 7-8, 2026, Russia and Ukraine exchanged strikes targeting energy infrastructure and civilian areas. Russian forces launched ballistic missiles and drones at the Kyiv region and capital, while Ukrainian forces conducted long-range drone strikes on two Russian oil refineries. Russian strikes hit the Brovary district near Kyiv and areas in the […]
Continue Reading
The Renewable Treadmill of Financial Death The Renewable Treadmill of Financial Death is a topic that David Blackmon , The Nemeth Report (Dr. Tammy Nemeth) and I will be covering at our new time at 9:00 Central this Monday. The following week at 9:00, we have a special edition of the Energy Realities Podcast with Dr. Joseph Fournier, another great Substack […]
Continue Reading
The global energy landscape remains highly volatile in early August 2026, shaped by overlapping geopolitical, security, and climate pressures. Disruptions centered on Russia’s refined product exports, ongoing uncertainty over the Strait of Hormuz, escalating risks in the Bab el-Mandab Strait, and a severe drought across Europe are tightening supplies of crude oil, petroleum products, LNG, […]
Continue Reading
Oil markets swung lower on Tuesday as Qatar and U.S. Treasury Secretary Scott Bessent pointed to advancing mediation efforts aimed at a short-term arrangement between the United States and Iran, centered on reopening the Strait of Hormuz. The chokepoint, which normally handles roughly one-fifth of global oil and LNG supplies, has been heavily disrupted since […]
Continue Reading
Texas ratepayers are on the hook for a $33 billion high-voltage transmission expansion that critics call a classic power grab—funneling guaranteed returns to transmission monopolies, condemning thousands of acres of private land, and primarily enabling more intermittent wind and solar that many of today’s assets won’t economically or physically outlast another decade. The Electric Reliability […]
Continue Reading