In a candid interview at the Milken Institute Global Conference, Chevron Chairman and CEO Mike Wirth delivered a sobering assessment of the global oil market: the industry’s traditional “shock absorbers” — commercial inventories in tanks, oil on tankers (including shadow fleet vessels), and strategic petroleum reserves — have been significantly drawn down in recent months […]
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As U.S. naval pressure intensifies around Iran’s ports and the Strait of Hormuz, Tehran is accelerating use of its overland rail connection to China as a sanctions-busting “back door.” The route, part of Beijing’s Belt and Road infrastructure push, offers a faster, blockade-resistant alternative for goods — but how much can it really move, especially […]
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The European offshore wind market is experiencing a structural supply constraint as the exit of GE Vernova from new orders leaves Siemens Gamesa and Vestas as the primary suppliers for the region. Turbine selling prices have increased by 40% to 45% since 2020, a surge that outpaces manufacturing cost inflation and reflects the immense technical […]
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In a stark warning to markets, CEOs from America’s largest oil companies say the global crude market is rapidly approaching a critical “cliff’s edge.” With the Strait of Hormuz effectively closed for months amid the ongoing U.S.-Israel conflict with Iran, commercial stockpiles, strategic reserves, and pre-war floating crude are being burned through at an alarming […]
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The 2026 Iran war has triggered what the International Energy Agency (IEA) calls the “largest supply disruption in the history of the global oil market.” Iran’s effective closure of the Strait of Hormuz—through which roughly 20% of the world’s oil and significant LNG volumes flow—has upended global energy supplies. Over 50 countries have implemented emergency […]
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Ukrainian drone strikes continue to hammer Russian oil infrastructure, with the latest assault on the Tuapse Oil Refinery in Krasnodar Krai marking the third hit on the facility in April alone. Overnight on April 27-28, 2026, drones ignited fires and damaged additional storage tanks, triggering a state of emergency, an oil spill, and direct Kremlin […]
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Europe is staring down a jet fuel supply crunch that could disrupt summer travel as early as June, with imports from the Middle East — historically its largest external source — completely halted this month. California, already grappling with refinery closures and heavy reliance on strained Asian imports, is only weeks behind, with tanker tracking […]
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ENB Pub Note: This article was first run on America Outloud by Ronald Stein, and we recommend signing up for his newsletter and reading America Outloud. Executive Orders in the United States are moving the country away from electric vehicles (EVs) and wind and solar electricity systems. Executive Orders issued by President Trump on January 20, 2025, ended the […]
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In an era of global energy volatility—exemplified by the 2026 Strait of Hormuz crisis and surging U.S. oil and LNG exports—true energy security isn’t just about drilling and producing at home. It’s about controlling the vessels that carry American energy to the world. President Donald J. Trump’s administration has made this crystal clear: Energy dominance […]
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California’s energy system is teetering on the edge of collapse. Decades of aggressive refinery closures, strict CARB fuel specifications, and heavy reliance on long-haul imports have left the state uniquely vulnerable. The ongoing disruption in the Strait of Hormuz—triggered by the U.S.-Israeli war on Iran—has now turned that vulnerability into an imminent crisis. Refined product […]
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