Amazonian communities in Peru rejoice as plan for oil drilling on ancestral land stalls
Peru 's state-run oil company failed to attract any bids to develop an oil field that overlaps ancestral territories of several Indigenous groups, prompting celebration by the communities and environmentalists on Friday.
The land parcel known as Block 64, which overlaps the ancestral territories of the Achuar, Wampis , and Chapra nations, has long been the focus of Indigenous resistance.
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2 hours ago
- Yahoo
Bureau of Land Management approves construction of Millard County potash mine
FILLMORE, Utah () – The Bureau of Land Management near Sevier Lake in Millard County. Plans for the mine have been in the works for years. Peak Minerals is developing the 124,223-acre Sevier Playa Project, which is billed as the largest producer of sulphate of potash outside of China. In a news release, the Bureau of Land Management said the approval comes as part of President Donald Trump's orders to boost domestic mineral production. Potash is a key ingredient in agricultural fertilizer and Utah has vast reserves of the mineral necessary for production. RELATED: BLM to remove over 3,000 wild horses from Wyoming land describe wells, trenches and ponds to be built for the process of extracting and processing subterranean brine. Roads, building and electrical infrastructure would also be built. Planners say the lifespan of phase one of the project would be about 25 years. Environmental advocates have fought the project for years. In 2023, the (SUWA) sued to stop it from moving forward. In the suit, the group insisted the project would harm groundwater, which is increasingly taxed by consumption in the drought-stricken West Desert. In a statement to ABC4 on Tuesday, the group expressed disappointment and alarm. 'The area—currently wild and remote—would become an industrial zone filled with evaporation ponds, dikes, roads, powerlines, a processing plant, and a rail loadout facility,' said Hanna Larsen, Staff Attorney for SUWA. 'The impacts of this industrialization would be clear on both the lakebed and the surrounding public lands, significantly impairing important habitat for migratory birds, ruining incredibly dark night skies, and adversely affecting air and water quality for decades to come. We'll continue to work to protect this area.' These Utah ponds aren't a trick of the eye, and you should stay away from them Indeed, the area around Sevier Lake is unique. The lake itself is a saline lake, not unlike the Great Salt Lake. It is fed by the Sevier River, and upstream water diversions cause the lake to dry out during certain times of the year. When surface water is available, migratory birds use it as a stopover and feeding ground. Environmental advocates point out the area is special because it is almost entirely devoid of light and noise pollution. Critics worry a large potash operation will destroy those qualities. But proponents of the project insist the economic benefit to the community will be worth it. In a advocating for the project, Peak Minerals claims the site would be an 'outstanding project with significant logistic advantages' with a 'skilled workforce ready to commute.' Company documents show the potential for lithium extraction in the future, which they say could add more economic value to the project. However, lithium extraction is water intensive and pressure on Utah's water reserves is only increasing with overuse and drought made worse by climate change. Bureau of Land Management approves construction of Millard County potash mine November statewide special election for collective bargaining referendum 'not off the table,' Cox says Family, police seeking information on missing 15-year-old girl from West Jordan RSL hoping to make a run in second half of season Utah lawmakers oppose AI regulation in Trump's 'Big, beautiful bill' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
5 hours ago
- Yahoo
Natural Gas Boom to Heat Up in Texas
Texas is pumping natural gas out of the ground and exporting it at a record pace. It may only be the start of another energy boom for the Lone Star State because natural gas demand is growing both globally and at home. Texas produced 34.1 billion cu ft daily of natural gas in March, newly released figures from the Texas Oil and Gas Association showed this week. The association forecast that by May, this will have grown to 34.4 billion cu ft daily. More than half of the March total was exported, at 12.5 billion cu ft daily, with the rest being consumed domestically. More natural gas will need to be consumed domestically in the coming years, however, thanks to Big Tech's artificial intelligence ambitions. The topic is as hot as they come: AI data center operators are scrambling to find enough reliable electricity supply for their facilities. Wind and solar can't cut it, so the companies are going the nuclear path or, as it happens, the natural gas path. A senior Amazon executive admitted earlier this year the technology sector will continue needing hydrocarbon energy for a while yet. Meta essentially admitted that talk about buying electricity from wind and solar operators is cheap; reliably powering data centers requires baseload generation that gas and nuclear can generate—and nuclear takes ages to build. Despite the hype around small modular reactors, the world's nuclear energy currently comes from the large sort, and building a large-reactor nuclear facility takes a long time to construct. Gas-fired power plants, on the other hand, can be built rather quickly, which is going to drive natural gas demand further—and so will rising exports.A recent report from an outlet called the Center for Energy & Environmental Analysis found that the number of new natural gas pipelines being built in the United States was surging and that most of these—more than a 100—were export oriented, that is, geared towards feeding natgas to LNG plants. The number was 104 new pipelines, the CEEA said, which will bring online as much as 99 billion cu ft daily in transport capacity. With nine out of the ten biggest among these pipeline projects in Texas and Louisiana, most of the additional production will come from those two states. Some are already warning that natural gas prices are going to surge at home due to the booming exports and the insatiable thirst of data centers. There is only so much gas to go around, and with demand surging, prices will follow, the bullish argument goes. But there is a bearish argument as well. Natural gas reserves are still very much abundant in Texas—and more associated gas is coming out of the shale oil wells. Production of associated natural gas from the Permian, the Eagle Ford, and the Bakken oil wells has surged over the past decade, the EIA said earlier this year. In the Permian, the gas-to-oil ratio has risen steadily from 34% of total production in 2014 to 40% in 2024. The rise was a result of pressure within the reservoir declining over time, and as more oil is brought to the surface, which allows more natural gas to be released from the geologic formation. This is a prolonged process, and the current trend suggests it will continue just as demand for natural gas continues expanding. It might not be such good news for pure-play oil producers, but it's definitely good news for those in gas. The export outlook is just as bright as the outlook for domestic demand. The biggest export markets for Texas-made LNG are Europe and Asia. In fact, the United States as a whole is the biggest LNG supplier to Europe. This is not about to change soon and the volumes of these exports are unlikely to be going down in any consistent way anytime soon. Europe may refuse to face facts, but it still very much needs natural gas to power its economies—and it doesn't want Russian gas. The only other source of comparable volumes of gas is the United States. Texas is set to continue breaking records. By Irina Slav for More Top Reads From this article on
Yahoo
9 hours ago
- Yahoo
Constellation Energy Stock (CEG) Eyes Atomic Expansion to Empower AI Boom
Constellation Energy Corporation (CEG) and Meta Platforms (META) are forming an unlikely partnership. The large-cap energy provider struck what's known as a 'power purchase agreement' with Meta, granting the tech conglomerate the entire 1.1 gigawatt output from Constellation's Clinton Clean Energy Center in Illinois for 20 years starting in mid-2027. Constellation's stock surged around 10% following the news, but has since given up its gains. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The deal marks a shift in how hyperscale tech companies are addressing their AI-driven power needs, with nuclear energy emerging as a preferred solution due to its carbon-free baseload power. Constellation's fleet of nuclear power plants bodes well for future deals, leaving me cautiously optimistic despite a frothy valuation. Meta's 20-year power agreement marks the largest in a growing wave of partnerships between nuclear energy providers and major tech companies. Amazon (AMZN), Microsoft (MSFT), and Google (GOOGL) have all secured nuclear energy to meet the surging power demands driven by their AI initiatives. Nuclear power offers several key advantages over other energy sources, including around-the-clock availability, scalability, and zero carbon emissions. These attributes make it especially appealing to energy-intensive data centers that operate continuously. To put this into perspective, a single ChatGPT query is estimated to consume roughly 10 times more energy than a standard Google search. Nuclear energy remains somewhat misunderstood. While rare nuclear accidents tend to dominate headlines and shape public perception, support for nuclear power is growing. A recent Pew Research Center poll found that 56% of Americans now favor expanding atomic energy. Regulatory momentum is also shifting in its favor, creating a supportive environment for companies like Constellation Energy. The ADVANCE Act of 2024, for example, reduced regulatory review fees for advanced reactor applicants and imposed an 18-month deadline for the Nuclear Regulatory Commission (NRC) to make decisions. Earlier this year, the Trump administration issued executive orders aimed at quadrupling U.S. nuclear capacity by 2050. Constellation, which operates the largest nuclear fleet in the country with 21 reactors across 15 sites, is well-positioned to benefit. When you combine favorable policy shifts with rising demand for energy, particularly from AI infrastructure, it's clear why Constellation is increasingly optimistic about the road ahead In its first quarter earnings, Constellation highlighted the demand for power from data centers. Constellation is just beginning to monetize AI-driven energy demand. Its adjusted operating earnings grew 17.6% in the first quarter to $2.14 per share. Nuclear production maintained an impressive 94.1% capacity factor and continues to remain stable across all geographies. Due to recent deals, Constellation now projects adjusted operating earnings growth of 13% or more through 2030, up from 10%. That said, much of Constellation's potential appears to be priced in. The stock has surged 380% over the past three years and now trades at a Price-to-Earnings (P/E) ratio of 33, nearly double the average for the Utilities sector. This premium valuation leaves little room for error; any operational setbacks could trigger a sharp pullback. While signing long-term agreements with companies like Meta is a positive step, the real challenge lies in execution—building infrastructure, scaling capacity, and navigating regulatory approvals. Time is a critical factor, and delays could have material consequences. Although Constellation currently enjoys a first-mover advantage, it won't be alone for long. Other utility providers are beginning to adopt similar strategies, and competitive pressures in the space are likely to intensify going forward. On Wall Street, CEG sports a Moderate Buy consensus rating based on eight Buy, five Hold, and zero Sell ratings in the past three months. CEG's average stock price target of $318.36 implies an upside potential of approximately 6.5% over the next twelve months. Following the Meta deal, analyst Ryan Levine from Citi downgraded CEG to Hold with a price target of $318. He noted that the stock's rally following the Meta announcement prompted a reevaluation of its value. He added, 'The Meta deal introduces a new framework where nuclear license extensions are considered additive generation, potentially impacting future deals for other plants in CEG's portfolio.' So, Levine sees both positives (a validated business model and premium pricing) and negatives (high valuation, execution risks, and market uncertainty). Technological advancements—particularly in artificial intelligence—present a significant opportunity for utility companies, and Constellation is well-positioned to capitalize. Its extensive fleet of nuclear power plants gives it a strategic edge, and its recent agreement with Meta could serve as a blueprint for future partnerships with other tech giants. Regulatory momentum is also working in Constellation's favor, further strengthening its long-term prospects. That said, the stock is already trading at a premium, reflecting high investor expectations. While Constellation's growth profile justifies a higher valuation—it's far from a traditional, slow-growth utility—there are still meaningful execution risks tied to complex nuclear infrastructure projects. Given this backdrop, a cautiously optimistic outlook, like the one expressed by analyst Levine, may be the most prudent approach. Still, Constellation appears well-positioned to benefit from the broader resurgence of nuclear energy, particularly as AI continues to drive up demand for reliable, carbon-free power, making it a compelling speculative opportunity. Disclaimer & DisclosureReport an Issue Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
