The state government of Karnataka (India) has proposed the construction of a 2 GW underground electricity storage project in the Sharavathi basin for an investment of INR53.9bn (US$700m).

The Brent price will average $117/b in March, $116/b in 2Q22, and $102/b in the second half of 2022 (2H22). We expect the average price to fall to $89/b in 2023.

Russian hackers, which are often linked to the state, are believed responsible for the Colonial Pipeline hack last spring that sent the eastern U.S. into a fuel frenzy.

Combined, solar and wind grew by 15.96% and accounted for more than one-eighth (13.05%) of U.S. electrical generation (wind - 9.12%, solar - 3.93%).

The country's installed capacity stood at 99,820 MW at the end of 2021, with 46% of thermal, 32% of hydro, 11% of wind, 8% of solar and 4% of biomass, geothermal, and waste heat.

Some 97% of Turkey's electricity generation capacity that came into operation last year was from renewable energy plants.

Renewable electricity generation increased by 24% to 6.9 TWh,

In the situation that has obtained in recent months on energy markets, it has become clear that one of the foundations of stability of the modern global world is, in the first instance, reliable energy supply, which cannot be provided without observing a reasonable balance of energy sources and an absence of discrimination against traditional sectors of the fuel and energy complex.

Israel currently aims for 30% of renewables in power generation by 2030.

TX politicians are not the only ones promoting crypto-currency mining. Many tech companies are excited by TX’s energy capabilities.

Texas is the second largest state by both area and population and has major expertise in the energy industry. Texas is in the south of the US, which allows it to generate plenty of solar electricity even in winter.

The $5 billion will be distributed to states over five years, with $615 million available in fiscal 2022.

This dynamic leads to rising global oil inventories from 2Q22 through the end of 2023, and the Brent spot price will fall to an average of $87/b in 2Q22 and $75/b in 4Q22. The Brent price will average $68/b for all of 2023.

Throughout the West’s diverse energy resource portfolio, in recent years there has been a shift away from large baseload resources (e.g., coal, nuclear) toward more renewable and largely variable resources.

The eastern Chinese coastal province of Zhejiang has approved the construction of a new 7 billion yuan ($1.10 billion) coal-fired power plant with 2 gigawatts (GW) of generating capacity