Viper owns mineral and royalty interests, primarily in the Permian Basin. Royalty owners collect a percentage of production revenue from every barrel of oil, cubic foot of natural gas, and barrel of natural gas liquids produced on their acreage without bearing drilling costs or capital expenditures.
The village deliberately chose to spend solar income on welfare rather than individual dividends, a decision Jeon says residents made themselves rather than being persuaded. If you divide money as individual income, people feel disconnected.
China's exports have decelerated as the Iran war starts to affect global demand and supply chains, according to Gary Ng, a senior economist for Asia Pacific at French bank Natixis.
BYD, the world's biggest car seller, unveiled a new battery giving its latest electric models more than 600 miles of range. Remarkably, the Chinese motor-maker said 250 miles of range could be injected into its new batteries in just five minutes. If true, the last remaining advantages of petrol cars—long range and quick refuelling—are beginning to disappear.
Researchers in China have reportedly tested a new, gravity-defying wind turbine system that they say could generate power from the airspace above cities. The turbine is called the S2000 Stratosphere Airborne Wind Energy System, or SAWES. Held up by what is essentially a helium blimp, the machine reportedly generated 385 kilowatts of electricity from 2,000 meters (more than 6,500 feet) above the city of Yibin in China's province of Sichuan, according to a recent Euronews report.
"The Secretary of War, in coordination with the Secretary of Energy," the order reads, "shall seek to procure power from the United States coal generation fleet by approving long-term Power Purchase Agreements, or entering into any similar contractual agreements, with coal-fired energy production facilities to serve Department of War installations or other mission-critical facilities."
The war in the Middle East is exposing how dependent the world is on a handful of strategic chokepoints. The Strait of Hormuz a narrow waterway in the Gulf is closed. The longer this goes on, the faster the global energy map could be reshaped.
The head of Britain's largest energy supplier has warned that the UK risks being "left behind" if it fails to collaborate with China on renewable technology, suggesting that importing Chinese wind farm innovations could create thousands of jobs. Greg Jackson, founder and chief executive of Octopus Energy, recently accompanied Sir Keir Starmer on a UK delegation to China. He emphasised China's significant advancements in technology and renewables, which he believes could provide Britain with crucial energy security.
A decade ago, China's political leaders laid out an ambitious industrial plan: By 2025, they pledged, their country would be a world capital, with the goal of moving from "Chinese speed to Chinese quality, the transformation of Chinese products to Chinese brands." This is the difference, they wrote, between "Made in China" and "Created in China." At WIRED, we never take what the government (ours or anybody else's) says at face value.
Rare earths are rapidly evolving into a strategic asset class as nations strive to reduce reliance on China, which retains overwhelming dominance in mining and refining capacity. Driven by surging demand from critical industries and heightened government intervention, the market infrastructure is maturing to meet the challenge. A pivotal milestone in this evolution is the CME Group's plan to launch rare earth futures contracts.
Devastating wildfires, flooding and winter storms were among the 23 extreme weather and climate-related disasters in the US which cost more than a billion dollars last year at an estimated total loss of $115bn. The last three years have shattered previous records for such events. Last Wednesday, scientists said that we are closer than ever to the point after which global heating cannot be stopped.
When Specian dug into the data, he discovered that implementing energy-efficiency measures and shifting electricity usage to lower-demand times are two of the fastest and cheapest ways of meeting growing thirst for electricity. These moves could help meet much, if not all, of the nation's projected load growth. Moreover, they would cost only half-or less-what building out new infrastructure would, while avoiding the emissions those operations would bring.