Fighting renewed
** US Central Command (Centcom) said on Tuesday it had launched “powerful” strikes in response to attacks on three oil tankers in the Strait of Hormuz, hitting more than 80 targets including air defense systems, coastal radar and fast boats. On Wednesday, Iran said it had targeted US military sites in Bahrain and Kuwait in retaliation to the US attacks.
Oil prices
** Oil prices surged more than 5% on Wednesday and global stocks and bond prices tumbled as investors fled risk assets after U.S. President Donald Trump said the memorandum of understanding signed with Iran to end the Gulf conflict was “over”.
Russia burning?
** Russia’s oil refineries are burning as Vladimir Putin’s war on Ukraine is now being deeply felt domestically. An analysis in the Financial Times suggests that, so far this year, long-range Ukrainian drones have struck Russian targets, primarily in European Russia, 194 times. That number is accelerating.
Thailand’s investment
** Thailand just put $4.1 billion behind electric vehicles. The Thailand Board of Investment says it has locked in more than $4.1 billion in commitments across 198 projects spanning battery electric vehicles, hybrids, battery manufacturing, components, and charging infrastructure.
US Energy
** Top North Carolina utility Duke Energy has proposed a “large load tariff” that would require data centers and other large power consumers to pay a minimum bill so their costs don’t end up burdening other customers. Consumer advocates had been pushing the utility to establish regulations like these for months and say Duke’s proposal could still go further.
** The Louisiana Public Service Commission is considering adopting a rule that would require groups that want to intervene in regulatory proceedings to disclose their out-of-state funding. It comes in the wake of a conservative think tank’s report finding that environmental groups have received out-of-state donations as they push for a transition off fossil fuels.
** Last week’s heat wave pushed electric demand to its second-highest level ever on the PJM grid and forced New York and New England’s grid operators to ask consumers to lower their energy use to help alleviate strain on the system.
** New Jersey Gov. Mikie Sherrill (D) signs three energy bills aimed at lowering electric bills, increasing oversight of utilities, and ensuring that data centers shoulder the costs they impose on the grid.
