Reality shows that, despite its many advantages, hydrogen is economically unviable as an energy source. Even subsidies worth billions of euros have not been enough to deliver the expected technological breakthrough, and investors are staying away from hydrogen.

In his book The 7 Habits of Highly Effective People, Stephen R. Covey compares a company to a team hacking its way through a jungle with machetes. The employees do the cutting, while their managers set the pace and sharpen the machetes. From above the treetops, senior management checks whether the company is heading in the right direction through the right jungle. After years of developing the green hydrogen business, the message from above is: “Wrong jungle!”

Read the full article HERE.

6. Liquid-fuel reactor produces uranium-233 from thorium for the first time

China is taking the lead in research into advanced nuclear technologies. Its latest milestone is the start of thorium-cycle tests in the TMSR-LF1 prototype liquid-fuel reactor, which uses molten salts.

There is renewed interest in liquid-fuel reactors, which use molten salts containing uranium, thorium or transuranic elements. These reactors could make it possible to close the fuel cycle, and thorium could offer major advantages in this respect. A liquid-fuel blanket could also be used in subcritical accelerator-driven transmutation systems, which would enable highly efficient burning of nuclear waste. China is focusing intensely on these technologies and has achieved a new breakthrough. Tests have begun in the new TMSR-LF1 (Thorium-based Molten Salt Reactor Liquid Fuel) prototype, using thorium to produce uranium-233.

Read the full article HERE.

7. Shell pulls out of wind farm projects and turns its focus back to oil and gas

Multinational energy group Shell has announced it is exiting two offshore wind farm projects in the United Kingdom. Like some other oil and gas majors, Shell has been reassessing its strategy in recent years and, after previously setting ambitious plans for renewable energy development, is returning to oil and gas production.

Following a review of its strategy, Shell’s management decided to leave the MarramWind and CampionWind offshore wind farm projects. Shell has sold its 50% stake in MarramWind to ScottishPower Renewables, while for CampionWind it returned the lease rights to Crown Estate Scotland, which manages the Crown Estate. According to Reuters, it is not yet clear whether CampionWind will proceed in another form. Together, the two projects were expected to provide around 5 GW of installed capacity.

Read the full article HERE.

8. IEA: Russia’s oil and fuel export revenues fell to USD 13.1 billion in October

Russia’s revenue from oil and fuel sales fell by 2.3 billion year on year to USD 13.1 billion (about CZK 273 billion) in October. The decline was due to lower export volumes and prices, the International Energy Agency (IEA) said today. Exports of crude oil and oil products fell by 150.000 barrels per day to 7.4 million barrels per day, reversing the increase recorded in September.

Russia’s vital energy industry is under pressure from intensified Ukrainian drone attacks on oil refineries and pipelines. It is also being weakened by Western sanctions aimed at reducing Moscow’s revenue, which is used to wage war in Ukraine.

Read the full article HERE.

9. US accelerates nuclear expansion: Illinois lifts moratorium, New York plans new reactors

Two developments with the potential to significantly affect nuclear energy growth took place in the US in a single week. The New York Power Authority (NYPA) issued its first requests for proposals for developing advanced nuclear reactors in upstate New York. In Illinois, lawmakers approved a law that will lift a more than 30-year moratorium on the construction of large nuclear power plants on January 1, 2026.

New York Governor Kathy Hochul tasked NYPA this year with developing a plan for at least 1 GW of new installed nuclear capacity in New York State. Immediately after the announcement in June, the authority began a preliminary assessment and consultations with key stakeholders.NYPA has now published two separate Requests for Information (RFIs). The first call is aimed at municipalities and regions in the northern part of the state interested in hosting an advanced nuclear reactor project. Applicants must identify at least one site with “strong potential for a new nuclear power source”—that is, one with sufficient space, access to water and appropriate protection against external hazards—and provide evidence of support from the local community and key stakeholders.

Read the full article HERE.

10. Italy’s Federacciai warns: Without a change in EU policy, we will lose strategic steelmaking

Italy’s steel federation Federacciai warns that, without a fundamental change in European industrial policy, the continent’s last blast furnaces could close, the S&P Platts website reports. While Italy is urging Brussels to ensure affordable energy and effective protection against cheap imports, Czech steelmakers are calling on the new government in an open letter to make Czechia’s voice heard in the EU before Europe loses the ability to produce strategic materials independently. The federation describes the switch to hydrogen-based steel production as technologically and economically absurd.

Europe’s steel industry is at a crossroads, a point urgently raised by Italian steel federation Federacciai. It warns that without a fundamental and targeted European industrial policy, Europe risks losing its strategic steel production—the key raw material for construction, the automotive industry, infrastructure and the defense industry.

Read the full article HERE.

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