New Middle East oil pipeline
** The United Arab Emirates (UAE) plans to speed up construction of a new oil pipeline to double its export capacity through the port of Fujairah by 2027, according to the Abu Dhabi Media Office. This development is expected to increase the UAE’s ability to ship oil outside the Strait of Hormuz, a major transit route for global energy supplies that is currently affected by regional instability, reported Reuters.
New oversight by Iran
** Ships transiting the Strait of Hormuz now face tolls and strict Iranian oversight as Tehran launches the Persian Gulf Strait Authority, with JPMorgan forecasting 11‑figure annual revenue from tolls. The Islamic regime officially launched the Persian Gulf Strait Authority, a body it will use to claim authority over the Strait of Hormuz, on Monday.
Drone message
** The drone attack on the civilian Barakah Nuclear Power Plant, which supplies electricity to the United Arab Emirates, was intended to “send a message” to the Emiratis, two sources familiar with the details of the strike told The Jerusalem Post on Sunday.
Time’s running out
** Commercial oil stockpiles will only last several more weeks, International Energy Agency head Fatih Birol told reporters at a G7 finance ministers meeting in Paris, per Reuters and Bloomberg.
US Energy
** For the first time ever, solar is set to generate more electricity than coal in the power market managed by the Electric Reliability Council of Texas. Nobody is building new coal power plants in the state, but developers are adding more solar there than anywhere else in the country.
** Reno, Nevada’s city council votes to pause new data center permits to allow it to develop new regulations, citing the facilities’ growing cumulative energy use.
** New York state lawmakers are poised to pass a budget that includes measures delaying implementation of a statewide electric school bus mandate by five years.
** The U.S. EPA rejects Hawaii’s proposed long-term haze reduction plan that would have required two oil-fired plants to shut down, saying the closures could lead to power reserve shortfalls.