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The Esso Fawley Oil Refinery, operated by Exxon Mobil, stands in Fawley, U.K., on Thursday, May 14, 2020.

Luke MacGregor | Bloomberg | Getty Images

The surprise output cut by OPEC and its allies sent oil prices rallying — and analysts say major oil importers like India, Japan and South Korea will feel the most pain if prices hit $100 per barrel, as some have predicted.

On Sunday, OPEC+ announced a production cut of 1.16 million barrels per day, in a move that oil markets were not expecting.

“It’s a tax on every oil importing economy,” said Pavel Molchanov, managing director of private investment bank Raymond James.

“It’s not the US that would feel the most pain from $100 oil, it would be the countries that have no domestic petroleum resources: Japan, India, Germany, France … to name some of the big examples,” Molchanov said.

The voluntary cuts by countries in the oil cartel are set to start in May and last till the end of 2023. Both Saudi Arabia and Russia will trim oil production by 500,000 barrels per day until the end of this year, while other OPEC members like Kuwait, Oman, Iraq, Algeria and Kazakhstan also reduce output.

Brent crude futures were last trading 0.57% higher at $85.41 a barrel, while the U.S. West Texas Intermediate futures stood 0.5% at $81.11 per barrel.

Countries heavily reliant on oil imports

“The regions most hit by the oil supply cut and related crude price jump are those with a high degree of import reliance and a high share of fossil fuels in their primary energy systems,” said director of Eurasia Group, Henning Gloystein. 

If oil goes up further, even the discounted Russian crude will start to hurt India’s growth.

Henning Gloystein

director, Eurasia Group

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“Although they’re still profiting from discounted Russian gas they are already hurting from high coal and gas prices,” Gloystein said.

“If oil goes up further, even the discounted Russian crude will start to hurt India’s growth.”

Japan

Oil is the most significant energy source in Japan, and accounts for around 40% of its total energy supply.

“Having no notable domestic production, Japan is heavily dependent on crude oil imports, with between 80% to 90% coming from the Middle East region,” the International Energy Agency said.

South Korea

Likewise for South Korea, oil makes up the main bulk of its energy needs, according to independent research company Enerdata.

“South Korea and Italy are more than 75% dependent on imported oil,” Molchanov pointed out. 

Europe and China are also “highly exposed,” according to Gloystein.

However, he added that China’s exposure was slightly less due to domestic oil production, while Europe as a whole relies mainly on nuclear, coal and natural gas rather than fossil fuel in their primary energy mix.

Impact on emerging economies

Some emerging markets that “do not have the foreign currency capability to support these fuel imports,” will be negatively impacted by the $100 price tag, said Molchanov. He named Argentina, Turkey, South Africa and Pakistan as potential economies that will be hit.

Sri Lanka, which does not produce oil domestically and is 100% dependent on imports, is also very susceptible to a harder hit, he said.

Cooling towers emiting vapor at the Leuna refinery and chemical industrial complex, home to refineries and plants operated by TotalEnergies in Leuna, Germany, on Tuesday, June 7, 2022.

Krisztian Bocsi | Bloomberg | Getty Images

“Countries with the least foreign currencies and who are importers will hurt the most because oil is priced in the U.S. dollar,” said founder of Energy Aspects, Amrita Sen, who added that the cost of imports will rise even further if the greenback appreciates.

$100 per barrel won’t be permanent

However, while $100 per barrel may be within the horizon, the higher price point may not stay for long, said Molchanov, adding that it’s not going to be “the permanent plateau.”

“In the long run, prices could be more kind of in line with where we are today” — in the region of about $80 to $90 or so, he said.

“Once crude hits $100 a barrel and stays there for a bit, that incentivizes producers to really ramp up output again,” said Gloystein.

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It happened: the storm hit. The power’s out. You have a home battery. Now what?

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It happened: the storm hit. The power’s out. You have a home battery. Now what?

The storm hit. The power’s out. With all the damage around you, it looks like you might be without power for a few days (at least). But you planned for this. You have a home backup battery. What happens now?

If you’re considering a home backup battery, or you already have one and haven’t needed it yet, you might be wondering what you’re supposed to do when the inevitable happens. The good news is: you probably won’t have to do much at all.

Whether you’ve got an industry standard like the Tesla Powerwall, one of the new GM Energy Storage Bundles, or any of the other excellent home battery systems on the market, from your point of view they’ll function in pretty much the same way.

Step 1: do nothing


“Jus’ chill, baby,” by ChatGPT.

Modern home batteries are paired with an automatic transfer switch. That’s a switch, usually installed near your home’s electrical panel, that allows you to go from grid power, to battery, and back. And, because it’s automatic, you don’t have to do anything at all.

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The instant the grid goes down, the automatic transfer switch recognizes the loss of power and automagically disconnects your house from the grid, seamlessly connecting it to your backup battery instead. Your lights stay on, the refrigerator keeps humming, and whatever else you’ve chosen to back up just keeps on keeping on. In some cases, the transition to battery power happens so smoothly that you might not even realize the neighborhood’s lost power, not noticing the neighbors’ dark windows until you step outside.

When the power comes back, that side of the switch gets energized, and it does its thing again, only in reverse – switching you back from battery to grid power and intelligently re-charging the battery in anticipation for the next blackout.

How long will my battery last?


UK battery storage
13.5 kWh Powerwall battery; via Tesla.

Unfortunately, this is one of those questions that doesn’t have an easy answer. In the simplest terms, if you have a small battery and try to keep the AC running, you might run out of juice in a few hours. On the other hand, if you have great big battery and save its electrons for just the barest essentials (a few lights, a laptop, and a phone or radio, for example) you might never run out of power.

To put some numbers to that, a 31 cu. ft. Samsung RF32CG5400SRAA stainless steel refrigerator is rated at 785 kWh/year. That works out to about 2.15 kWh/day. Factor in 20-40% higher energy needs for warmer temperatures, a few daily door openings, defrost cycles, inverter losses, etc. and you’re looking at 18-22 kWh of usable battery capacity to keep that thing running for a full week on battery power. Now do that same math for every appliance you deem a “must have,” then do the “nice to haves,” and on down the line.

That doesn’t even address the other form of “last,” and whether you’re looking for a ten- or twenty- year battery solution.

What you need to do, in other words, is talk to the experts. Let them know what appliances you need to keep running, how long you want to prepare for, and let them do the math to help determine which battery solution is right for you.

I’ve included a video that covers the process of picking a solar battery from EnergySage (a trusted affiliate partner), below, and invite you to share some of your own backup battery-picking experiences in the comments.

How to pick a solar battery


Original content from Electrek.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. 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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Ford cracks Corvette ZR1 ‘Ring record – with an electric van*

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Ford cracks Corvette ZR1 'Ring record – with an electric van*

Just days after Chevrolet beat the mighty Ford Mustang GTD’s Nürburgring track record with their Corvette ZR1 and ZR1X, Ford went back to the ‘Ring to reclaim some glory. They didn’t bring a Mustang along, though – they showed up with an electric van, and record-setting hot shoe Romain Dumas behind the wheel.

* it’s not your typical van. It’s a SuperVan.

Ford took back a fair bit of Chevy’s headline-grabbing glory this week when LeMans-winning driver Romain Dumas lapped the 12.9 mile Green Hell in just 6 minutes and 48.393 seconds – a blazing performance that makes the 2000 hp Ford SuperVan 4.2 the ninth fastest car to ever blast around the storied German racetrack.

Dumas is no stranger to the Nürburgring’s Nordschleife. He was first overall at the 2007 24 hour race there. He also holds the outright Nürburgring track record for EVs, which he set back in 2019 behind the wheel of the Volkswagen ID.R, completing the circuit in 6 minutes and 05.336 driving the Volkswagen ID.R.

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The new ‘Ring-record comes just a few weeks after Ford beat out every other supercar at the Goodwood Festival of Speed in the UK with its all-electric SuperTruck, crushing the “competition” with their 1,400 hp prototype EV silhouette racer.

No word yet on what track record Ford plans to snatch with an EV next.

Electrek’s Take


Romain Dumas in-car video; via Ford.

If there were still Ford guys and Chevy guys, I like to think I’d be a Mopar guy – but even from the sidelines, I can tell that Chevy’s been having a rough couple of weeks, performance-wise. Not only did their top-shelf ZR1X get beaten by a Ford van (even if it is a SuperVan), but their clean sheet, future-thinking, pie-in-the-sky concept Corvette got beat to the hypercar headlines by a Chinese rival with 1,000 extra hp.

Take my advice, GM: it’s time to drag Warren Mosler back home from the Virgin Islands, figure out where Rod Trenne’s hiding, and get them to build you a proper, 900 kg electric ‘Vette. Y’all let me know if you need help setting that up.

SOURCE | IMAGES: Ford.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. 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.

FTC: We use income earning auto affiliate links. More.

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PA Turnpike to add 80 new Applegreen DC fast chargers by 2027

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PA Turnpike to add 80 new Applegreen DC fast chargers by 2027

EV drivers who use the Pennsylvania Turnpike just got a jolt of good news: Two Applegreen DC fast charging stations have come online, adding to the growing network of over 60 EV chargers along the 360-mile toll road that links Pittsburgh, Harrisburg, and Philadelphia.

The new 400 kW Applegreen Electric charging stations are at the PA Turnpike’s North Somerset (MP 112.3 westbound) and South Somerset (MP 112.3 eastbound) Service Plazas. Each site includes two DC fast chargers for a total of four charging ports, with two NACS and two CCS plugs at each service plaza. The PA Turnpike says the sites are equipped to be expanded.

The Pennsylvania Turnpike plugged in its first EV charger in April 2014. A decade later, more than 60 charging stations are online at eight of its service plazas, giving EV drivers a reliable boost across the state. And thanks to a new partnership with Applegreen Electric, 80 new universal EV chargers are on the way. By 2027, all 17 service plazas will feature DC fast chargers.

“We are pleased to offer our EV customers convenient access to the latest, fastest technology – without leaving the PA Turnpike,” said Director of Facilities Operations Keith Jack.

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The EV chargers at North Somerset and South Somerset, along with an EV charger at the Hickory Run Service Plaza scheduled to open this fall, were funded with grants from the Pennsylvania Department of Environmental Protection’s Driving PA Forward program. The chargers at nine service plazas scheduled to open in 2027 are being funded through grants from the Biden administration’s federal National Electric Vehicle Infrastructure (NEVI) program. 

Applegreen Electric chief executive Eugene Moore noted that the PA Turnpike’s fast charger rollout “marks a key step in building a connected corridor with Pennsylvania as a vital part of the seamless network that now spans New Jersey, New York, Connecticut, and Delaware. With more to come soon in Ohio and Massachusetts, we’re accelerating the rollout of reliable, accessible EV infrastructure across the region.” 

Applegreen is deploying fast chargers on the New Jersey Turnpike, with which it now has an exclusive agreement – it’s taking over from Tesla.


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.

FTC: We use income earning auto affiliate links. More.

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