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Tankers located in the waters near Ceuta, Spain are transferring crude oil from Russia to reach the Asian markets in spite of Western sanctions.

Europa Press News | Europa Press | Getty Images

Russia’s oil revenues rebounded in March and April to reach the highest level since November last year, according to a new report, bolstering President Vladimir Putin‘s ability to finance the Kremlin’s onslaught in Ukraine.

Analysis published Wednesday by the Centre for Research in Energy and Clean Air, an independent Finnish think tank, found that Russia’s revenues from oil exports have recovered from levels reached in January and February.

The findings show that Moscow has recently been able to successfully claw back earnings from fossil fuel exports despite the imposition late last year of import bans from the European Union and a broader G7 oil price cap.

It comes less than a week after G7 leaders said at the conclusion of the Hiroshima Summit in Japan that a price cap on Russian oil and petroleum products was working, Russian revenues were down and falling oil and gas prices were benefitting countries around the world.

This is a clear indication that the enforcement is not working.

Lauri Myllyvirta

Lead analyst at the Centre for Research in Energy and Clean Air

Energy analysts at CREA suggested the failure from the so-called Price Cap Coalition to revise price levels and enforce the policy had resulted in the measures “losing traction, integrity and credibility.”

“The EU has failed in its commitment to review the price cap every two months to ensure that it stays lower than the average market price,” said Lauri Myllyvirta, lead analyst at CREA and co-author of the report.

“This is a clear indication that the enforcement is not working,” he added.

A spokesperson for the European Union declined to comment when contacted by CNBC.

Russia’s oil revenue recovery expected to continue

At the start of the year, data showed Russia’s revenue from fossil fuel exports had collapsed in December. It appeared to underscore the effectiveness of policymakers targeting Russia’s oil revenues and sparked calls for even tougher measures to help Kyiv prevail.

CREA’s latest findings, however, show that Russia’s oil tax revenues rose 6% month-on-month in April due to the increase of export revenues in March.

To be sure, the Kremlin’s revenues were significantly below levels recorded in April last year, when oil prices jumped.

The increase of export revenues in March resulted in a 5% month-on-month rebound in Russia’s mineral extraction tax receipts in April, the report said — and an even larger increase is expected in May.

It means that after bottoming out at the start of 2023, Russia’s oil tax revenues have since recovered due to increased sales.

Russian President Vladimir Putin meets with the Supreme Court chairman Vyacheslav Lebedev at the Kremlin in Moscow on May 22, 2023.

Mikhail Klimentyev | Afp | Getty Images

“The Kremlin’s tax revenue has closely followed prices for Russian crude oil, highlighting the importance of the oil price cap. The state is also changing its tax regime to diminish the impact of the price cap,” said Isaac Levi, energy analyst at CREA.

“Unless the price cap coalition takes action to lower the price cap level and plug the enforcement gaps, changes to Russia’s oil taxation structure will force the price of Russian crude oil closer to international benchmarks, leading to further recovery of Russia’s oil revenue and wholesale failure of the price cap system,” he added.

CREA’s analysis said that since the EU’s import bans and the G7 price cap on Russian oil, Moscow has earned an estimated 58 billion euros ($62.5 billion) in export revenues from seaborne oil.

The majority of which was transported on European-insured or owned tankers, it added. Russia’s revenues could be slashed by a further 22 billion euros if the price cap for crude oil was reduced to $30 per barrel and price caps for oil products were revised accordingly, CREA said.

What is the aim of the price cap?

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One of Texas’ dirtiest coal plants will swap to solar with help from US grant

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One of Texas' dirtiest coal plants will swap to solar with help from US grant

A coal plant in South Texas will shut down and convert to a solar + battery electricity generation facility, with the help of a $1.4 billion grant from the US Department of Agriculture meant to help clean energy while saving rural jobs.

The grant will go to San Miguel Electric Cooperative Inc (SMECI) headquartered in Atascosa County, Texas, south of San Antonio, and serving 340,000 customers 47 South Texas counties.

SMECI has operated a mine mouth lignite-fired coal plant (named due to its proximity to the mine that supplies it) since 1982. The plant is in the town of Christine, Texas, population 337.

But that coal-fired plant is one of the dirtiest in Texas. It’s the fourth-largest mercury polluter in the state, producing around 12 times as much mercury as is allowed by a new EPA rule.

It also has two coal ash ponds on site which leech into the local water table and create some of the most contaminated groundwater in the country. Here’s a passage from a 2022 Earthjustice report which analyzed contamination from coal plants:

Numerous constituents were found in concentrations exceeding relevant thresholds from the outset of monitoring in 2018—in wells both up- and downgradient from CCR units. These constituents include arsenic (up to 7 times the Maximum Contamination Level (MCL)), beryllium (up to 112 times the MCL), boron (up to 28 times its 10-day child health advisory), cadmium (up to 83 times the MCL), cobalt (up to 360 times its default GWPS in the CCR Rule), lithium (up to 82 times its default GWPS), selenium (up to 16 times the MCL), and radium (up to 6 times the MCL).

Poisonous Coverup, The Widespread Failure of the Power Industry to Clean Up Coal Ash Dumps, Earthjustice, 2022

In particular, note that the coal plant resulted in 360x as much cobalt as is allowed in the groundwater protection standard – an element that people often associate with electric car batteries, but is also present in many fossil fueled applications (oil refining, for one).

So, moving away from this coal plant and to a cleaner option would definitely be a big win, given what an environmental stain it is on the area.

In September, SMECI was chosen as a finalist for a new USDA “Empowering Rural America” grant, and this week, was officially selected as one of the sites to receive part of grant, alongside 9 others. SMECI received the largest chunk of the $4.37 billion total, with other sites mostly getting grants in the hundreds of millions.

In total, the grants will support 5,000 jobs and reduced climate pollution by 11 million tons per year, according to the USDA. SMECI’s grant will reduce climate pollution by 1.8 million tons, as much removing 446,000 cars from the road, and support around 600 jobs.

The grant money will be used to convert the plant away from coal power and replace it with solar and battery storage. Solar is an abundant resource in sunny South Texas, and the plant already has grid connections to make this an easier drop-in than having to run new transmission lines.

But not only that, the site’s capacity will see a significant upgrade. The current coal plant can produce up to 410 megawatts of power, but the upcoming solar plant will be capable of 600 MW – nearly half again as much as its previous capacity.

And pairing this solar power with grid-tied batteries will help to make the grid more resilient, too. Thermal power plants tend to take time to turn off and on, meaning it’s harder to manage unexpected peaks and troughs in electricity demand – plus, equipment at the plants tends to wear when it heats up and cools down a lot, contributing to the high costs of coal power. There have been numerous studies showing that new solar plants are cheaper than old coal – and that’s even ignoring externalities.

While solar power is often considered intermittent – you are at the mercy of the sun, after all – batteries can solve that problem. These batteries can help to smooth out peaks and troughs in generation and demand, and can be dispatched to the grid within milliseconds, to better match supply with demand. They can also be used for energy arbitrage, by charging when supply is abundant and discharging when demand is high.

While there’s no announced timeline yet for exactly when the plant will complete its transition, SMECI will develop a Community Benefits Plan over the course of the next year as a provision of the grant process.

Once this transition is completed, Texas will be left with 14 coal plants. In 2023, Texas generated 71GWh of electricity through coal, down from a peak of 157GWh in 2011. Electricity generation in the state was 37.2% coal in 2000, and just 13.1% in 2023.


And if you want to make the transition to solar on your own personal level, why not install some on your roof? 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. – ad*

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Sustainable performance with ERANGE – the best EV tires for top EVs

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Sustainable performance with ERANGE – the best EV tires for top EVs

From their cutting-edge tech to their planet-saving potential and just how fun they are to drive, EVs are here to stay. And as EVs rapidly become more mainstream, so do the unique demands they place on other components – like tires. The unsung heroes of every road trip, tires play a critical role in delivering the performance and efficiency EV drivers expect. Enter ERANGE, an EV tire series that’s specifically designed to meet those demands.

In this post, we spotlight four of the hottest EV models on the market, their go-to tire sizes, what matters most to EV drivers, and what ERANGE delivers when it’s time to replace the rubber.

Table of contents

ERANGE EV Tires

Hottest EV models and tire sizes

Tesla Model Y
This crossover powerhouse is the world’s best-selling EV for a reason. It offers impressive range, a roomy interior, and Tesla’s signature tech, making it a favorite for families and tech lovers alike.

  • Most popular tire size for the Tesla Model Y: Common tire sizes include 255/45R19 and 255/40R20, designed for optimal efficiency and grip.

Lucid Air
If luxury and range had a baby, it would be the Lucid Air. With industry-leading range and a design that screams sophistication, this premium sedan is making waves among EV buyers who demand the best.

  • Most popular tire size for the Lucid Air: Premium models often sport 245/35R21 tires, perfect for performance and aerodynamics.

Ford Mustang Mach-E
Who says EVs can’t have a muscle car vibe? The Mach-E blends style, performance, and affordability into a package that’s become a hit with mainstream drivers.

  • Most popular tire size for the Ford Mustang Mach-E: Sizes like 225/55R19 offer a balance of comfort and range.

Hyundai Ioniq 5
With its futuristic design and competitive price, the Ioniq 5 is quickly becoming a darling among urbanites and younger drivers looking to go electric without breaking the bank.

  • Most popular tire size for the Hyundai Ioniq 5: 235/55R19 tires are known for quiet operation and energy efficiency.

What EV drivers want in tires

EVs aren’t just regular cars with a battery – they bring a whole new set of challenges and opportunities for tire design. Here’s what matters most to EV drivers:

  • Low rolling resistance: Critical for squeezing out every mile of range and optimizing efficiency.
  • Durability: EVs are heavier and pack more torque than gas-powered cars, which means they’re tougher on tires. EV-specific compounds are a must for longevity.
  • Quiet ride: EVs are whisper-quiet, and the last thing you want is road noise ruining the vibe.
  • All-season performance: A solid tire should handle everything from summer downpours to light snow.
  • Sustainability: Eco-conscious EV owners want tires made with greener materials and manufacturing processes.
ERANGE EV Tires

Why ERANGE tires deliver for EV drivers

ERANGE tires are designed with EVs in mind, and they deliver on every front that matters:

  • Optimized efficiency: Thanks to Sailun’s proprietary EcoPoint3 technology, ERANGE tires reduce rolling resistance, giving you more miles per charge without sacrificing performance.
  • Exceptional durability: These tires are built tough to handle the unique stresses of EVs, which means fewer replacements and better value over time.
  • Enhanced comfort: The tread design is tailored for EVs, minimizing road noise so you can enjoy that peaceful cabin.
  • Eco-friendly design: Made with sustainable materials and processes, ERANGE tires align perfectly with the green ethos of EV ownership.
  • All-season capability: Rain, shine, or snow, ERANGE tires keep you safe and steady year-round.

Final thoughts

The EV revolution is here, and it’s transforming everything from how we drive to the tires that carry us there. ERANGE EV is leading the way in tire innovation, offering products that enhance efficiency, durability, and sustainability. Backed by Sailun’s cutting-edge technology, ERANGE tires are a smart, reliable choice for EV drivers who demand the best.

So, if you’re looking for tires that can keep up with your EV’s performance and your eco-conscious values, ERANGE EV has you covered.

You can visit ERANGE EV’s website here.

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Awesomely Weird Alibaba EV of the Week: This 18 MPH suitcase is a terrible idea

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Awesomely Weird Alibaba EV of the Week: This 18 MPH suitcase is a terrible idea

I’ve got a bit of a reputation for testing out some of the wildest, strangest, and most interesting non-car electric vehicles on the internet. In order to find many of these far-fetched electric steeds, all I have to do is pop open a few (dozen) Alibaba tabs in my browser and start window shopping through the world’s largest repository of creative EV engineering. That’s exactly how I found this week’s focus: a surprisingly fast and fun-looking suitcase that you can giddy-up and ride till the wheels fall off, which they very well might.

Now let me tell you right off the bat: I did not actually buy this awesome-looking scooter suitcase (scootcase?). This is part of a long series of posts where we enjoy the beauty (or horror) of some of Alibaba’s wildest EVs from the safe distance of our computer screens.

But this one is really tempting me. And that’s because for a mere US $733, this electric suitcase that nobody ever asked for could be yours!

It’s powered by a 400W motor – or perhaps two 400W motors, as the ad copy isn’t super clear. But either way, that single or double motor is apparently enough to send this suitcase careening around an airport terminal at a wholly irresponsible 30 km/h (18 mph).

If this seems like a half-baked idea, then you’re probably being generous. The last thing I want when I’m rushing to catch a flight is to be taken out at the knees by someone riding an 18 mph suitcase. But then again, the simple solution to that problem is to already be on my own electric suitcase! Problem solved – and race started!

The concept sounds far fetched, but the execution actually looks pretty decent, especially when shown off by the leggy model giving us the money shot, above.

The design is sort of fascinating, even if I’m not 100% sure I understand the engineering. Apparently it starts life as a normal carry-on suitcase. You know, the boring old kind that you can’t drift around a Cinnabon on your way to Gate 16A.

But then it transforms like Optimus Prime into a scooter, folding part of the suitcase back on itself and pivoting its trolley pull-handle 90 degrees into a set of handlebars. At that point you pop a fat squat right onto Scootimus Prime and you’re ready to fly around an airport at breakneck speeds. Based on the graphic below, I’m led to believe this transformation takes just five seconds.

I can’t imagine this does any favors to the storage space available inside of the suitcase. But hey, did you buy your suitcase to carry things, or did you buy it to race old folks on those Terminal 3 golf cart shuttles? Yeah, that’s what I thought. So quit complaining, go toss your laundry and neck pillow in a plastic shopping bag, and strap on your riding goggles because we’ve got some very narrow tire marks to lay down on some very squeaky airport linoleum.

The on-board battery is said to be enough for 13 km (8 miles) of range, which seems longer than necessary in any airport setting. It also powers some USB outlets on the suitcase, meaning you could recharge your phone in a pinch.

The 75Wh battery is compliant with pretty much any airline, falling below the 100Wh limit. So if you’re getting hassled at the airport about your new wheels, it won’t be by TSA, but rather all the teenagers laughing at you while posting it on TikTok.

But let ’em laugh, because they’re just haters in your non-existent rearview mirror. If they only knew what sweet loadout this scootcase had, they’d be singing a different tune.

There are surprisingly nice features like four speed settings, electronic braking, cruise control, and even a reverse feature. You might scoff, but my LiveWire electric motorcycle doesn’t even have reverse. Harley engineers could learn a thing or two from this silly little thing!

Some final thoughts

As interesting as this thing looks, I don’t think I’ll be dropping $733 on it anytime soon. I’ll have to stick with my trusty Cotopaxi travel backpack, which can neither ferry me around an airport nor charge my devices, but has served me well for boring old tasks like carrying my belongings.

And as many of my longtime readers will already know, this is very much a tongue-in-cheek post as part of a long series of other tongue-in-cheek Alibaba posts (which I hope to resurrect to a near-regular schedule again). Therefore, nothing in this post should be taken as an endorsement of this product. In fact, please do not buy this thing. You’ve been warned. If you do buy it, don’t complain to me when you get a speeding ticket from a mall cop or get banned from LaGuardia for causing a pileup outside of a Sbarro.

Let’s just let this thing exist in its own weird little corner of the internet with the rest of the finest electric vehicles that Alibaba has to offer.

And that, my friends, is a wrap. It’s good to be back.

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