Russia announced that it would cut oil production by 500,000 barrels per day in March after the West slapped price caps on Russian oil and oil products.
Bans and price caps targeting Russian oil are having the “intended effect” despite surprisingly resilient production and exports in recent months, according to Toril Bosoni from the International Energy Agency.
Bosoni, who’s head of the oil industry and markets division at the IEA, told CNBC on Wednesday that Russian oil production and exports had held up “much better than expected” in recent months. This is because Moscow has been able to reroute much of the crude that previously went to Europe to new markets in Asia.
China, India and Turkey in particular ramped up purchases to partially offset the 400,000-barrel-per-day fall in Russian crude exports to Europe in January, according to the IEA’s oil market report published Wednesday. Some Russian oil is also still making its way to Europe through the Druzhba pipeline and Bulgaria, both of which are exempt from EU embargo.
As such, Russian net oil output fell by only 160,000 barrels a day from pre-war levels in January, with 8.2 million barrels of oil shipped to markets worldwide, the IEA said. The agency added that G-7 price caps may also be helping to bolster Russian exports to some extent, as Moscow is forced to sell its Urals oil at a lower price to those countries complying with the caps, which potentially makes it more attractive than other sources of crude.
Despite Russia’s substantial export volumes, Bosoni argued that this did not mean the sanctions had failed.
“The price cap was put in place to allow for Russian oil to continue to flow to market, but at the same time reducing Russian revenues. Even though Russian production is coming to market, we’re seeing that the revenues that Russia receives from its oil and gas have really come down,” Bosoni said.
“For instance in January, export revenues for Russia were about $13 billion, that’s down 36% from a year ago,” she said. “Russian fiscal receipts from the oil industry is down 48% in the year, so in that sense we can say that the price cap is having its intended effect.”
She also highlighted the growing discrepancy between Russian Urals crude prices and international benchmark Brent crude. The former averaged $49.48 per barrel in January, according to the Russian Finance Ministry, while Brent was trading above $85 a barrel on Thursday.
Importantly, Russia’s 2023 budget is based on a Urals price average of $70.10/bbl, so plunging fiscal revenues from oil operations year-on-year are leaving a substantial hole in public finances.
Bosoni also noted that the indications are that Moscow may not be able to reallocate the trade of oil products in the same way as it has crude exports, which is why the IEA expects exports and production to fall further in the coming months.
“We’re seeing now some reallocation of trade of the products but we haven’t seen the same shift as we saw for crude, which is why we’re expecting Russian exports to fall and production to fall,” she said.
However, Bosoni said this was in line with the IEA’s expectations.
“This is included in our balances that still see the markets relatively well supplied through the first half of the year, so we’re not too concerned about this decline, we think there’s enough supply to meet demand for the coming months,” she said.
“The question will be when summer comes around, refinery activity picks up to meet summer driving and China rebound really takes off, this is when we can see the market tighten really through the rest of the year.”
In its report, the IEA suggested the production cut may be less about retaliation and more an attempt by Moscow to shore up pricing by curbing output rather than continuing to sell at a large discount to countries complying with the G-7 price caps.
Global oil demand
Global oil demand growth is expected to pick up in 2023 after a sharp slowdown in the second half of 2022, with China accounting for a substantial portion of the projected increase.
The IEA said a pronounced uptick in air traffic in recent weeks highlighted the central role of jet fuel deliveries in 2023 growth. Oil deliveries are expected to surge by 1.1 million barrels a day to hit 7.2 million barrels a day over the course of 2023, with total demand hitting a record 101.9 million barrels a day.
The effects of the West’s latest oil embargo and price cap will be a key factor in meeting that demand growth, the IEA report noted.
“So will Beijing’s stance on domestic refinery activity and product exports amid its reopening. New refineries in Africa and the Middle East as well as China are expected to step in to cater for the growth in refined product demand,” it said.
“If the price cap on products is half as successful as the crude cap, product markets may well weather the storm – but more crude supplies would be required to prevent renewed stock draws later in the year.”
What seemed like a too-good-to-be-true opportunity in micromobility has turned into a cautionary tale. The Lightning Shared Scooter Company (LSSC) lured investors with promises of leasing scooters in Asia, offering hefty daily returns to Western investors – often average folks instead of seasoned investors. But now regulators and watchdogs warn it was all a well‑orchestrated scam, leaving victims robbed of millions.
The pitch: Easy money, powered by scooters?
From the start, LSSC presented itself as a legitimate shared-scooter rental company with high demand and even higher returns. Investors were told they’d lease scooters, watch them get deployed in bustling Asian cities, and collect reliable daily pay‑outs. The company sold a dream of passive income from a booming market of micromobility. But in reality, it was all smoke and mirrors.
In theory, as the e-scooters were rented and ridden, the investors would earn money from those scooters. In practice, fake revenue stacked up in the app but couldn’t actually be withdrawn. Making matters worse, the scam relied on its victims also roping in friends, family, or other potential “investors”, functioning much like a pyramid scheme.
To appear legitimate, the company circulated an official-looking SEC certificate, though NBC News reported that upon inspection, the document was riddled with typos, grammatical errors, and other flaws that any due diligence process should have caught.
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A notice from the Alberta Securities Commission shows the scam has targeted Canadians, too
Countless Americans fell for it, along with the company’s shiny marketing materials and supposed celebrity endorsements. According to the Better Business Bureau (BBB), LSSC’s victims often invested anywhere between $1,000 to a staggering $55,000. And this devastation wasn’t isolated; claims span at least 17 US states.
With mounting complaints piling up, the BBB has issued public warnings to anyone who might be approached by LSSC or similar schemes masquerading as shared-mobility ventures.
The scooter industry has been both glorified and maligned in recent years, from legitimate startups redefining urban transit to watchdogs cracking down on mismanagement and faulty batteries. What’s particularly concerning here is that LSSC weaponized well-known industry tropes: scooter popularity, micromobility returns, and a “global venture” to build credibility.
Ultimately, the Lightning Shared Scooter fiasco reads like a modern-day cautionary fable for investors: brand new names, global promises, and passive-income allure can be the perfect ingredients for fraud.
Micromobility is a bright, evolving industry, and one worth supporting, innovating, and investing in. But as this shadowy tale shows, even in our electric future, scams still require old-fashioned skepticism. So if you’re ever asked to “invest in scooters” – especially in far-off markets – pause, ask tough questions, and remember: not every opportunity is what it seems. And if a “business opportunity” requires signing up your friends and family, run for the hills. Or better yet, scoot there!
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The Anthbot Genie 3000 brings automated mowing tech to your backyard without the need for old-fashioned perimeter wires. It has GPS-grade precision and AI-powered vision, and I got to check out how well it works. With a mix of impressive strengths and a few growing pains, it’s a compelling entrant in the smart‑lawn space worth a closer look.
Setup and specs
There are a few models in the lineup, ranging from $699 to $1,399. I was testing the larger battery version since my parents have some land, and the extra battery makes quicker work of larger plots.
Unboxing the Genie, you’ll find the mower, charging base, RTK GPS station with pole (the mushroom-looking thing), power cables, spare blades, tools, and a quick‑start guide. Unlike some electronics I’ve set up, the quick start guide was actually really well laid out and useful.
The three models in the Genie line:
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600 – up to ~600 m² (0.22 acres)
1000 – up to ~2,000 m² (0.49 acres)
3000 – up to ~3,600 m² (0.89 acres)
The 3000 bumps up the battery to 10 Ah, but they all share the same core specs: a 20 cm (7.9 “) cutting width, adjustable electric deck height (30–70 mm or 1.25 to 2.75 inches), IPX6 waterproofing, and the ability to handle steep slopes, though my Florida testing didn’t exactly put the hill-climbing claims to the test.
Navigation and mapping
This is where the Genie shines. The combo of full‑band RTK GPS plus four AI‑driven cameras enables wire‑free navigation. That means no boundary cables, freeing the mower from the biggest problem with old-fashioned alternatives. Instead, GPS-based boundaries set the limits and your mower is free to do its thing without worrying about a boundary wire breaking one day and your mower making a run for the county line.
Mowing occurs in mostly clean, straight lines, avoiding the chaotic randomness older robot mowers often exhibited. It did seem to have a few areas where it missed on the first run, though it actually went back and got them (mostly), and that got better on subsequent mowing sessions.
Obstacle avoidance is solid. Within its 300° camera field, it claims to detect upwards of 1,000 common objects, sidestepping everything from garden hoses to pets. For me, the occasional potted plant or other obstruction in the yard was pretty easy for the robot to spot.
There are even headlights that seemed quite bright at night (and the very quiet electric mowing meant that it doesn’t disturb anyone when mowing at night).
It’s so cute how it just runs around doing its thing, day or night (though you can program to avoid certain times).
App and smart features
The Genie app is used for setup and lets you define many different mowing zones, draw no‑go zones, tweak cutting height, schedule operations, and monitor battery and progress live, even when you’re away. During setup, I did find that I had to move the mower closer to my router for it to successfully update its firmware, but afterwards it was fine just stealing some signal that leaked out the walls of the house. I guess for the bigger download, it wanted the stronger signal closer to the router.
There are also anti‑theft features, including device‑binding to your Wi‑Fi and account, and a PIN lock so that someone else can’t just take and use your robot. That may be a concern if you live in an area with lots of neighbors, but out in the boonies, I don’t think anyone is looking for robo-mowers.
After nearly 3.5 hours, the robot usually returns to charge, then finishes the second half of the backyard.
Performance and real-world use
The first thing that impressed me about the Genie is how quiet it is. They say it runs at about 58–66 dB, whisper-quiet under normal conditions. You can literally hear the individual grass blades being cut – something I’ve never heard before in all my gasoline-powered mowing years.
The battery seems to last for around 450 to 500 m2 of mowing, or around 3-4 hours, depending on how thick the grass is in that section. Then it returns home to recharge and starts up again where it left off. The mowing width might seem hilariously narrow, just 7.9 inches. But since you’re not actually the one mowing, it doesn’t really matter. My robotic vacuum also has a very narrow vacuum width, but I’m not the one walking around vacuuming, so what do I care? The passes all seem straight and good-looking, so you still get the nice lawn stripes look, though they’re a bit narrower.
The robot performs quite well, and it fulfills my goal which was to make it easier on my 70-year-old parents. It’s not perfect at edging, but if my dad can do 3 minutes of cleaning up along the fence line once in a while instead of an hour of lawn mowing, that’s a major improvement for him.
I don’t know how long these little razor-style blades will last, though they’re pretty cheap and easy to swap out. And I do wish the company made the cable longer between the RTK mushroom and the mower’s base station, so you can get the RTK out a bit further if you need it, but I found a spot that seemed to work for optimal signal for me.
I would say that the Genie 3000 is great for anyone who wants an easy setup process and wire-free operation. There’s no boundary wire to install or to check for breaks. It just works (as long as you have a clear view to the sky for the satellites). But if you’re trying to mow several acres, this little guy probably isn’t the one for you. Anything up to around 3/4 of an acre is where it will shine.
Now I just need to find something that can handle several acres in the pasture behind the backyard…
Sped up 7x, but you get the point.
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A new review of US Energy Information Administration (EIA) data by the SUN DAY Campaign reveals that solar delivered almost 9% of US electricity in the first half of 2025. Wind and solar combined produced just over one-fifth of the country’s electricity, while renewables as a whole hit nearly 28%.
Solar’s record-breaking growth
EIA’s latest monthly Electric Power Monthly report (with data through June 30, 2025) confirms that solar kept its streak as the fastest-growing major source of US electricity. In June 2025 alone, solar soared. Utility-scale solar power plants cranked out 30.1% more electricity than in June 2024, while rooftop and other small-scale solar systems grew by 10.5%. Combined, solar generation jumped 25% year-over-year and made up 10.2% of US electricity that month.
Looking at the first six months of 2025, utility-scale solar expanded by 37.6%, and small-scale systems rose 10.7%. Together, they grew nearly one-third (29.7%) compared to the same period in 2024. That meant solar provided 8.7% of all US electricity in January-June, up from 6.9% the year before.
That’s a milestone: Solar is now producing almost 45% more electricity than hydropower (6.0%), and it’s generating more than hydropower, biomass, and geothermal combined.
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Wind is still a front-runner
Wind turbines supplied 11.6% of US electricity in the first half of 2025 — a 2.4% boost compared to the same time in 2024. Wind’s output was almost double hydropower’s contribution.
Wind + solar are beating coal and nuclear
Together, wind and solar accounted for 20.3% of total US electricity in the first half of 2025, up from 18.6% last year. That’s a bigger share than coal or nuclear. In fact, wind and solar generated 25% more electricity than coal and 15.6% more than nuclear over the same period.
Renewables overall are surging
All renewable sources combined – wind, solar, hydropower, biomass, and geothermal – generated 27.7% of US electricity from January through June 2025, up from 26.1% a year ago. Their output grew three times faster than total US electricity generation overall (9.2% vs. 3.0%). Renewables are now second only to natural gas, whose generation actually dropped 3.7% in the first half of the year.
Ken Bossong, executive director of the SUN DAY Campaign, added that this growth happened before the passage of the Trump/Republican “megabill,” which could slow future renewable expansion. “Nonetheless, EIA notes that US developers expect half of new electric generating capacity to come from solar in 2025 and another 13% from wind.”
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
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