Guyana Eyes Gas Boom, But Can It Deliver?

By Irina Slav - Nov 26, 2024

Guyana has become notorious for its vast offshore oil reserves, but its offshore fields contain a lot of gas too.

Earlier this year, the government of Guyana launched a tender for companies interested in developing its gas reserves.

Guyana looks to send the associated gas from the Liza 1 and 2 fields to the shore, process it and use it for power generation and exports.


In just a few short years, Guyana has become a factor to reckon with in global oil. The country is on track to hit the 1-million-bpd mark before this decade is over. It would only make sense that it would seek to capitalize on its gas reserves as well—but it’s facing challenges.

Guyana has become notorious for its vast offshore oil reserves, but there is natural gas there, too. For now, this is being injected back into the wells operated by Exxon, Hess, and CNOOC, to maintain pressure. Yet the authorities in Georgetown have plans—and these plans feature LNG.

Earlier this year, the government of Guyana launched a tender for companies interested in developing its gas reserves. It would have been easier to bet on the Exxon-led consortium again, but the authorities in Georgetown have made it clear they would like some diversification. The tender, however, ended in a somewhat odd way. Of the 17 companies that submitted proposals, Guyana’s government picked one called Fulcrum LNG—set up by a former Exxon executive just a year earlier. Now, doubts are emerging that the company is solid enough to help Guyana develop its gas reserves.

The founder of Fulcrum, Jesus Bronchalo appears to be the only person associated with the company, according to Reuters. The company’s website only has one press release; on the news of Fulcrum’s selection by Guyana as partner to Exxon to develop natural gas resources. And it was competing with much larger LNG developers with much longer track records, Reuters noted in its report on the selection back in June.

According to the Guyanese government, Fulcrum’s was “the most comprehensive and technically sound proposal.” The idea is simple enough: send the associated gas from the Liza 1 and Liza 2 fields to the shore, process it, and use it for power generation and LNG exports. The capacity of the project was set at up to 50 million cu ft daily. Interestingly, nothing has been finalized yet, Reuters reports.

“No project has been awarded to anyone. We're in an exploratory phase,” Guyana’s vice-president told the publication in October. The walkback on the initial enthusiasm appears to have coincided with criticism of the government’s pick by opposition politicians. Fulcrum LNG “lacks requisite experience and a demonstrated ability to raise the type of multi-billion-dollar finances required,” an economist and adviser to a Guyanese opposition party, the People’s National Congress, told Reuters.

Indeed, there is very little information about the company besides the fact its founder and CEO spent 20 years at Exxon before striking out on his own—after spending the three years between 2020 and 2023 in Guyana as regional executive. The company’s website has a lot of information about expertise in the oil and gas industry but with no details about specific projects.

According to skeptics who spoke to Reuters, the problem with such small companies is that they lack the means to find the financing necessary for projects of the scale that the Guyanese government wants to develop. According to the government, Fulcrum plans to get funding from the U.S. Export-Import Bank, private equity firms, and “an environmental partner.” The company has not divulged any details on the identity of these firms, only saying it would partner with Baker Hughes and McDermott on the construction work.

It is a somewhat strange situation, for sure, and it may mean that Guyana takes longer than desired to tap its natural gas reserves, which could reduce energy costs for its population and propel it to the global LNG scene in the future. Exxon is already working on the first part of the plan: it is building a gas pipeline to the shore for a 500-MW power plant that should be operational by the end of next year—but it is running behind schedule. It seems repeating its oil success with gas may be a bit of a challenge for Guyana.

By Irina Slav for Oilprice.com


India’s PM Modi Says Guyana Crude Is Key For India’s Energy Security

By Alex Kimani - Nov 26, 2024

Indian Prime Minister Narendra Modi said Thursday during a visit to Guyana that his government views Guyana as key to India’s energy security.
Modi: we will encourage Indian companies to invest in Guyana.
India currently imports most of its crude from the Middle East and Russia.


Two weeks ago, U.S. oil and gas giant, Exxon Mobil Corp. (NYSE:XOM) announced it had reached 500M barrels of oil produced from Guyana's offshore Stabroek block, just five years after it kicked off production at the location. According to Exxon, the first three projects--Liza Phase 1, Liza Phase 2 and Payara--are already pumping more than 650K bbl/day. The Exxon-led consortium which includes Hess Corp. (NYSE:HES) and China's Cnooc (OTCPK:CEOHF) have set a target to reach production of at least 1.3M bbl/day of oil by year-end 2027, a feat it hopes to achieve when six approved offshore projects come online.

And now one of the world’s biggest oil consumers is eyeing the light and sweet crude produced by the tiny South American country. Indian Prime Minister Narendra Modi said Thursday during a visit to Guyana that his government views Guyana as key to India’s energy security. Modi told a special sitting of Parliament that he views Guyana as an important energy source and that he will encourage large Indian businesses to invest in the country.

Guyana did not immediately grant Modi’s wish, with India’s External Affairs Minister Jaideep Mazumdar saying talks will continue and that such a deal would ensure “greater predictability.” Guyanese Natural Resources Minister Vickram Bharrat told reporters that Guyana is willing to supply India with a large amount of crude, if Exxon Mobil, the main operator in Guyana’s offshore oil production, agrees to such an arrangement.

“We know Exxon has to do some amount of changes to their lifting schedule and logistics because their preference is for the very large vessels that can accommodate two million barrels mainly because of distance and cost,” Bharrat said.

According to Bharrat, Guyana prefers that Indian companies bid for oil blocks and negotiations can proceed once a bid is submitted.

Enhancing Energy Security

With India recently becoming the biggest buyer of discounted Russian oil ahead of China, it appears counterintuitive that it would be so eager to buy crude from a country located nearly three times farther away than its much larger neighbor. Russian crude exports to India in July reached a record 2.07 million barrels per day (bpd) compared with 1.76 million bpd to China. However, energy security has become a critical issue for India due to its surging energy demand and limited domestic resources.

Previously, we reported that India’s energy security has been severely compromised by the ongoing Middle East conflict. Whereas a lot of focus lately has been on India’s surging imports of Russian oil, the country actually buys the lion’s share of its oil from the Middle East. In August, the Middle East accounted for 44.6% of India’s crude imports, up from 40.3% in July. Iraq, Saudi Arabia, the UAE and Kuwait are the main Middle Eastern suppliers of oil to India. In contrast, the share of Russian crude fell to 36% after five straight months of increases. Meanwhile, India imports nearly half of its liquefied natural gas (LNG) from Qatar. Back in February, India's Petronet LNG (PLL) and QatarEnergy inked a long-term LNG Sale & Purchase Agreement (SPA) for the supply of around 7.5 million metric tons per annum (MMTPA) of LNG to India over the next 20 years. The deal involves LNG imports of $78 billion by the PLL during the contract period.

India’s geostrategic positioning and access to two of the world’s most critical maritime chokepoints--the Malacca and Hormuz Straits--make it a critical player in the global oil trade. Hormuz is the world's most important oil transit choke point. Chokepoints are narrow channels along widely used global sea routes that are critical to global energy security. Even temporary disruptions that occur along these critical routes can lead to substantial increases in shipping costs, increasing world energy prices. Located between Oman and Iran, Hormuz connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. The Strait of Hormuz is the only maritime link to the rest of the world for Iraq, Kuwait, Bahrain, and Qatar, with their economies highly dependent on imports for basic necessities. Over 85% of India’s oil is imported via the Strait of Hormuz while key trade routes pass through the Malacca Strait. Together, these straits see over 60% of the world’s oil flow and a third of global trade, underscoring their strategic importance for not only India’s but the world’s energy security and economic continuity.

Oil prices fell more $2 per barrel on Monday after reports emerged that Israel and Lebanon have agreed to the terms of a deal to end the Israel-Hezbollah conflict. Reuters reported on Monday that a senior Israeli official said the country’s cabinet would meet on Tuesday to approve a ceasefire deal with Hezbollah, while a Lebanese official said Beirut had been told by Washington that an accord could be announced "within hours".

"It seems the news of a ceasefire between Israel and Lebanon is behind the price drop, though no supply has been disrupted due to the conflict between the two countries and the risk premium in oil has been low already before the latest price decline," said Giovanni Staunovo of UBS.

It’s possible that these developments mark the beginning of de-escalation of tensions in the region. However, U.S. officials have warned that negotiations are not complete after previous hopes for Israel-Hezbollah ceasefire were dashed. Further, the fact that Israel has dramatically ramped up its campaign of air strikes in Beirut and other parts of Lebanon just hours after news of a potential deal came out does not inspire a lot of confidence.

By Alex Kimani for Oilprice.com

UK Government May Relax Rules On EV Targets

By ZeroHedge - Nov 27, 2024

The UK government is set to review electric vehicle sales rules through a "fast track" consultation.

Under existing rules, EVs must account for 22% of car sales and 10% of van sales this year, with non-compliance resulting in £15,000 fines per vehicle.

While EV sales have risen, making up nearly a quarter of registrations in October, industry sources attribute this to heavy discounting, which they claim is unsustainable.



The UK government is set to review electric vehicle (EV) sales rules through a "fast track" consultation, following pressure from carmakers who argue that current sales targets are too ambitious given weaker-than-expected demand, according to the BBC.

Business Secretary Jonathan Reynolds is expected to announce the consultation at the Society of Motor Manufacturers and Traders’ annual dinner on Tuesday.

Under existing rules, EVs must account for 22% of car sales and 10% of van sales this year, with non-compliance resulting in £15,000 fines per vehicle. Manufacturers can offset shortfalls by purchasing credits from EV-focused firms like Tesla or BYD, which critics say disadvantages UK-based manufacturers.

Longtime Tesla skeptic Mark Spiegel responded to the news on X stating: "So now the UK will join the U.S. and EU in killing the need for car companies to buy emission credits from Tesla."



While EV sales have risen, making up nearly a quarter of registrations in October, industry sources attribute this to heavy discounting, which they claim is unsustainable.

The BBC writes that Reynolds aims to address these challenges in his forthcoming announcement.

Carmakers, including Nissan, have urged Reynolds and Transport Secretary Louise Haigh to make EV sales regulations more flexible, citing risks to UK jobs and investments. Nissan warned the rules threaten the business case for UK manufacturing, while Ford recently announced 800 job cuts, partly due to weaker EV demand.

While committed to Labour’s 2030 target for ending petrol and diesel car sales, the government is open to tweaks in the EV mandate. Options include allowing credit transfers between cars and vans, granting credit for British-made EVs sold abroad, or introducing new incentives for private buyers.

The government seeks industry consensus on changes but insists annual quotas will remain. Haigh emphasized that while "flexibilities" are being considered, the mandate itself "will not be weakened."

By Zerohedge.com

U.S. Gas Drillers Saddle Up for Data Center-Fueled Demand Ride

By Irina Slav - Nov 26, 2024

U.S. natural gas producers anticipate higher demand and prices driven by growing LNG exports and the rapid expansion of data centers.'

While natural gas producers plan to increase output to meet rising demand, they aim to avoid overproduction.

Drillers are learning lessons from a history of unrestrained drilling in shale plays like the Permian and Haynesville.


U.S. natural gas producers are preparing for stronger demand and higher prices for their product as data center proliferation accelerates further and years of depressed gas prices become a thing of the past. They are not letting it all happen by itself either—gas executives are in talks with data center developers to build them where the gas is.

“Expectation of a step change in power demand has created opportunities for increasing dialogue around the potential for power generation and data projects within the Permian Basin,” the co-chief executive of Permian Resources said recently, as quoted by Reuters.

Also recently, Black & Veatch, the EPC and construction major, wrote that natural gas was just about the optimal power option for data centers, which made it quite appealing for data center developers.

“Enterprises eager to make an environmental impact through greener strategies and energy innovation that lessen their carbon footprints get reliable, accessible and cleaner power from natural gas,” Black & Veatch wrote. “Natural gas supply and delivery are extremely reliable, given that pipelines typically are below ground and protected from nature’s elements. Natural gas also is cheaper than diesel, and widely available generators now can meet the industry standard of a 10-second startup time for emergency power.”

In anticipation of more demand, gas producers are already preparing to boost production—after they just cut it for the first time in four years this year. The Energy Information Administration said in its latest Short-Term Energy Report that it expected natural gas production in 2025 to inch up to 114 billion cu ft daily from 113 billion cu ft daily this year, or 1%, led by a 6% increase in output in the Permian. This happens to be where gas executives are trying to convince data center developers to build their new facilities.

“Rather than continuing to get low margins on our gas... we're trying to figure out a way to be creative on ways to turn some of that natural gas into more value for our shareholders,” the chief executive of Diamondback Energy said, as quoted by Reuters last week.

There is more, however. Grid supply is not unlimited, even in Texas and New Mexico with their abundant natural gas supply, which means that a new mechanism of power supply may be applied for the needs of data center operators, again per the above Reuters report. It cited analysts as saying data centers, power utilities, and gas producers could negotiate some sort of a three-way agreement to secure the supply necessary for data centers’ needs.

What all this means is what many analysts have been forecasting: the AI race will be powered by natural gas, and not wind and solar. The reason is simple enough: natural gas supply is more reliable than the supply of weather-dependent energy sources. Interestingly, the EIA does not seem to care about AI electricity needs. In its latest STEO, it said it expected power generation next year to increase by 3%, “mostly to supply increased air-conditioning demand compared with last year, driven by hotter summer temperatures this year.”

There is always a chance that next summer will be less hot than this summer was, but with data centers, the trajectory of demand will continue higher—just like LNG export demand. “The combination of growing LNG exports, increased electrical generation demand, and the prospect of winter weather suggests a tighter supply-demand picture for natural gas in 2025 and beyond,” the chief executive of Coterra Energy said at the company’s third-quarter analyst call, as quoted by Reuters. And that picture suggests higher prices and higher output—but not too high.


Oil drillers found out the hard way why drilling at will was not wise and took a more disciplined approach to production. Natural gas drillers have also had to learn this lesson the hard way, even if it wasn’t them who drove the surplus supply situation but those shale oil drillers with their associated gas in the Permian. In any case, when the industry sees a stronger case for supply growth, it will not unleash all available supply. It will likely pace itself.

Enverus recently estimated the remaining reserve situation for one of the biggest gas-producing shale regions, Haynesville, and found that it depends on the demand. “We estimate the Haynesville has 12.5 years of sub-$3.00/Mcf inventory at last year’s turn-in-line (TIL) cadence,” Enverus analyst Jimmy McNamara said. “This drops to 10.5 years when modeling EIR’s 2026 TIL cadence that increases Haynesville supply by 2.0 Bcf/d to match incoming LNG demand.”

Some companies have better inventory than others and would be able to produce cheap gas for longer, but all in all, the price rise seems inevitable when factoring in both the rise in LNG demand, especially in Europe, and the demand surge expected from the tech industry for its data centers. And so does the production increase, cementing the position of natural gas as the optimal power generation fuel.

Data Centers Highlight the Limits of Renewable Energy Scaling

By Irina Slav - Nov 24, 2024

Data centers are turning into an unexpected obstacle that may well compromise the whole transition offensive against hydrocarbons.

Wind and solar could supply power to data centers for certain periods of a day, week, or month, but the bulk of the round-the-clock supply must come from baseload generation facilities.

The part about the affordability of the energy system likely has to do with emissions rather than money.


Until about a year ago, no one paid much attention to data centers. Everyone used them, of course, but they didn’t think about them. Then, the AI rush began. It was followed by a rush for energy supply. One year in, and data centers are threatening the very energy transition on which so many governments have staked everything.

Power utilities, regulators, and climate activists appear to be experiencing growing concern about the immediate outlook for oil and gas demand, Reuters reported this week, saying the fast growth in demand for electricity caused by the mushrooming of data centers had come as a surprise to many. There may have been some frustration, too, because wind and solar have been unable to scale up fast enough to cover this additional demand, per some of the people Reuters spoke to—even though there is no scale that would have covered that demand, not for intermittents.

The worry is real, for sure. The Washington Post also published a worry-laden article this week about the increase in electricity demand due to data center proliferation and the risk this is posing to “decades of progress cutting greenhouse gas emissions, as utilities lay plans for scores of new gas power plants to meet soaring electricity demand.”

Data centers are turning into an unexpected obstacle that may well compromise the whole transition offensive against hydrocarbons. Data centers need reliable, uninterrupted electricity around the clock, and there is no way either wind or solar, even with battery backup, can guarantee this to the extent that data centers need. No wonder their operators are turning to gas and coal generators. They’re even planning to build new nuclear and revive old nuclear. The race for electricity supply is on.

Natural gas generators and natural gas producers are only too happy to oblige, of course. After years of depressed prices, natural gas drillers are due some respite. They see it in the surge in electricity demand driven by data centers and their new and much greater needs originating with AI development. Data centers have become more power hungry. Gas is the most easily available source of that power.

Last month, S&P Global estimated that growth in data centers could add between 3 billion cu ft and 6 billion cu ft in new daily gas demand to the U.S. total by 2030. “We believe that combination of data center demand and ongoing security concerns will underpin hydrocarbon revenues, and particularly natural gas demand, for at least the next decade,” S&P analysts said.

Indeed, the ratings agency expects electricity demand from data centers to grow at an annual rate of 12% over the next six years, which is certainly a healthy pace from natural gas producers’ perspective. And there is no realistic way this demand can be reliably met by wind and solar, the pillars of the energy transition. Yet this does not mean that pressure on data center operators to green-up is not growing.

“I think everyone agrees that we need more and more renewable energy to keep up with a growing demand,” Meta spokesman Jim Cullinan said recently, as quoted by Reuters. “I think it is up to the utilities to comment on how they will fill the supply.”

Passing the ball to the power utilities, however, is not going to change the situation. That situation is that wind and solar could supply power to data centers for certain periods of a day, week, or month, but the bulk of the round-the-clock supply must come from baseload generation facilities, emissions and all. With that, the data center situation gives us a taste of what the energy transition would actually look like—because the central idea of the transition is total electrification.

“Data centers are just a warm-up act compared to the amount of electrification we’re going to have going forward,” the chief executive of transition advocacy outlet RMI told Reuters. “And if our first instinct is to start building gas plants and nuclear plants in order to do that, we're just going to create an energy system we cannot afford.”

The part about the affordability of the energy system likely has to do with emissions rather than money, but the first part about data centers being a warm-up is spot-on. The surge in electricity demand from these facilities is an excellent illustration of the insurmountable obstacles to the success of the energy transition as envisioned by its net-zero champions. It also exposes the shortcomings of wind and solar, and dispels the myth that they can replace, instead of complement, gas and coal generation.

Whatever Big Tech corporate spokespeople say, the fact is that their industry needs a reliable electricity supply, and the poster tech of the transition falls short on that very condition. One can either have green or reliable power supply. The sooner this gets acknowledged by the transition leaders, the better for everyone—including the planet.


By Irina Slav for Oilprice.com

The Secret Metal That Helped Win WWII is Back, And Prices Are Soaring

By Josh Owens - Nov 24, 2024


More than 100 years ago, a ship left a Nova Scotia harbor carrying a precious cargo that few today would recognize as valuable. The crew, full of optimism, was bound for Wales hoping that the metal they carried would lead them to riches. Unfortunately, they never made it.

A German U-boat lurking in the cold Atlantic waters fired a torpedo and the ship went down, sinking to the ocean floor along with its mysterious cargo.

At the time, the metal seemed unimportant, but its true value wasn’t fully realized until later. Fast forward to today and that same metal is critical to modern military and industrial applications. That metal, once forgotten at the bottom of the sea is not gold or silver, but antimony—a mineral that has become a key player in global conflicts and high-tech industries alike.

This shipwreck might sound like an intriguing piece of history, but it’s far more than that. It’s a reminder of how vital antimony has been and continues to be for national security and economic stability.

Now, thanks to Military Metals Corp. (CSE:MILI; OTCQB:MILIF), the very same mine in Nova Scotia that once produced this valuable metal is being re-visited. And it couldn’t have come at a more crucial time.

Antimony: The Unsung Hero of Modern Warfare

Antimony might not be a household name, but it’s been an essential material in warfare for centuries. During both World War I and World War II, antimony was used in everything from bullet casings to explosives.

Today, it’s more important than ever. According to the U.S. Geological Survey, American manufacturers use over 50 million pounds of antimony each year.



That’s because antimony is a critical component in the production of semiconductors, batteries, and solar panels. From electronics to renewable energy, the modern world runs on antimony.


In short, antimony is critical to both offensive and defensive operations. Any disruption to the supply of this key mineral could have devastating effects on national security.

The Growing Threat of an Antimony Shortage

This is where things get concerning. For decades, the U.S. has relied on antimony imports from China. In fact, China controls nearly 50% of antimony mining and 80% of the world’s antimony production. This has put the U.S. in a precarious position, especially as tensions with China continue to rise.

The U.S. military is well aware of the risks. The Pentagon has been scrambling to secure a domestic source of antimony, recognizing that losing access to this vital mineral could severely impact America’s ability to defend itself.

That’s why Military Metals (CSE:MILI; OTCQB:MILIF) is stepping in at the perfect moment.

The company has taken a bold step with their plans to redevelop the historic West Gore Antimony Project in Nova Scotia. This mine was once a key source of antimony during both World War I. Today, it stands as one of the few potential sources of antimony in North America.

The company has also recently acquired one of Europe’s largest antimony deposits with a historical resource in Slovakia which could prove even more promising as tensions between Russia and Europe escalate.



The above table is data from their recent Slovakian acquisition and helps to show the potential in situ value of Military Metals.

Simply multiply the antimony tons (60,998) by the current spot price ($38,000) to arrive at a total of $2,000,000,000 in situ value of antimony in the ground. The company is merely $23 million at its current market cap with a healthy cash position. Also, the average grade of the resource is 2.478%, which is considered very high for antimony. Most antimony is produced at low grades as a by-product of some gold deposits.


By comparison, Perpetua Resources, which is in the process of receiving a $1.86-billion government loan to develop their strategic resource, is valued at around $700 million with 90,000 tons of antimony.

By announcing the definitive agreement on Slovakia assets as well as acquiring the West Gore project in North America, Military Metals Corp. is positioning itself as a critical player in the fight to secure domestic antimony production.

The company’s CEO, Scott Eldridge, has stated, “The acquisition of the West Gore Antimony Project demonstrates our strategy of becoming a significant global antimony player.”

Eldridge understands the importance of antimony not just for military use, but also for a wide range of industrial applications. He’s betting that as tensions with China escalate, the value of domestically produced antimony will skyrocket.

This isn’t just speculation. The U.S. government has already started investing heavily in securing domestic sources of critical minerals, including antimony. And Military Metals Corp., with its historic West Gore project, is perfectly positioned to capitalize on this growing demand.


The Strategic Importance of Domestic Antimony Production

The potential reopening of the West Gore mine is more than just a business opportunity. It’s a strategic move to safeguard North America’s supply of a mineral that could decide the outcome of the next global conflict.

Antimony is on the U.S. government’s list of critical minerals, and for good reason. Without it, the military cannot produce the advanced weapons systems needed to defend the country. As China tightens its grip on global antimony production, securing a domestic source has become a matter of national security.

Military Metals (CSE:MILI; OTCQB:MILIF) West Gore project is one of the only known sources of antimony in North America. This puts the company in a unique position to benefit from government initiatives aimed at stockpiling critical minerals.

With billions of dollars being allocated to secure domestic mineral supplies, companies like Military Metals Corp. stand to gain substantial financial support.

But it’s not just the government that’s interested. The private sector is also waking up to the importance of antimony. As industries like renewable energy and tech continue to grow, demand for antimony will only increase. And with China controlling most of the world’s supply, companies that can produce antimony domestically will be in high demand.

Antimony-Focused Strategy

The company has made it clear that it’s focused on acquiring and developing antimony resources across North America and with their latest definitive agreement announcement on two Antimony projects in Europe, they have a chance to be a global powerhouse. This strategy is designed to potentially make them one of the leading suppliers of antimony outside of China.

With the global antimony market expected to grow significantly in the coming years, Military Metals Corp. is positioning itself as a key player in what could be one of the most critical supply chain battles of the 21st century.

In addition to the definitive agreement for Slovakian assets, the company is actively exploring additional opportunities to acquire other antimony assets, ensuring that it remains at the forefront of this growing industry.

Five Reasons to Keep an Eye on Military Metals Corp.A Historic Mine with Modern Relevance

Military Metals Corp. controls the West Gore mine, a site with a rich history of supplying antimony during both World War I. Now, with China restricting exports, the mine’s strategic importance is greater than ever.Military and Industrial Demand

Antimony is essential for military hardware, including everything from bullets, explosives, missiles to night vision goggles. But it’s also critical for the production of semiconductors, batteries, and solar panels, making it indispensable for both defense and industry.China’s Stranglehold on Supply

With China controlling the majority of the world’s antimony supply, the U.S. is in a vulnerable position. Military Metals Corp. is one of the few companies with a domestic antimony project, making it a key

player in securing North America’s supply. They also have recently closed on their flagship European asset with a 60,998 ton historical resource of antimony.Government Support for Critical Minerals

The U.S. government has already started investing heavily in securing domestic sources of critical minerals, including antimony. Military Metals Corp. is well-positioned to benefit from these initiatives, especially as tensions with China continue to rise.Rising Demand Across Multiple Industries

Antimony is essential not just for military applications but also for renewable energy, electronics, and other high-tech industries. As demand for these products grows, so too will the demand for antimony.

Final Thoughts for Investors

As the world faces growing geopolitical tensions and supply chain disruptions, the importance of securing critical minerals like antimony cannot be overstated.

The company is emerging as a key player in this high-stakes race, with its historic West Gore project leading the charge and potentially one of EU’s largest historical deposits of antimony.

With China tightening its grip on global antimony supply, now is the time to pay attention to companies like Military Metals Corp. The future of modern warfare, renewable energy, and high-tech industries may very well depend on it.


Other companies to keep a close eye on:

United States Steel (NYSE: X)

United States Steel is an integrated steel producer with major operations in the United States and Central Europe. As a major steel supplier to the automotive, appliance, construction, and energy sectors, U.S. Steel plays a vital role in the U.S. economy. A strong domestic steel industry is essential for maintaining a robust manufacturing base, which contributes to national security by ensuring the ability to produce critical equipment and infrastructure.

U.S. Steel's production capacity and focus on research and development are crucial for meeting the evolving demands of the defense industry. Their ability to produce advanced high-strength steels and other specialized steel products is essential for constructing modern military vehicles, ships, and infrastructure.

U.S. Steel is committed to investing in its workforce and communities, contributing to the long-term viability of the U.S. steel industry. By providing good-paying jobs and supporting the economic well-being of communities, U.S. Steel helps ensure the domestic manufacturing base remains strong.

ArcelorMittal (NYSE: MT)

ArcelorMittal is the world's leading steel and mining company with a significant presence in the United States. Their vast production capacity and global reach make them a critical supplier of steel to various industries, including the defense sector. ArcelorMittal produces a wide range of steel products, from basic sheet steel to specialized high-strength alloys, essential for manufacturing vehicles, ships, and infrastructure.

ArcelorMittal's commitment to research and development keeps them at the forefront of steelmaking technology. This is crucial for meeting the evolving demands of the defense industry, which requires advanced materials to produce lighter, stronger, and more resilient equipment.

ArcelorMittal's focus on sustainability and responsible sourcing is vital for the long-term viability of the steel industry. By minimizing its environmental impact and promoting ethical labor practices, ArcelorMittal contributes to a responsible and sustainable defense supply chain.

Energy Fuels (NYSE American: UUUU)

Energy Fuels is a leading U.S.-based uranium mining company, operating the only conventional uranium mill in the United States. With a diverse portfolio of uranium mines and projects across the Western U.S., they are a crucial player in the U.S. nuclear fuel cycle. Energy Fuels also produces vanadium, a metal used in high-strength steel alloys and aerospace applications.

The company plays a vital role in ensuring a secure and reliable domestic supply of uranium, which is essential for nuclear power plants that provide a significant portion of the nation's electricity. This reduces reliance on foreign sources of nuclear fuel and strengthens energy security.

Furthermore, Energy Fuels contributes to national security by supporting the domestic uranium industry. Maintaining this capability is crucial for the long-term viability of the nation's nuclear deterrent, reducing dependence on foreign sources of this strategically important material.

Lockheed Martin (NYSE: LMT)

Lockheed Martin is a global security and aerospace leader with approximately 114,000 employees worldwide. The company focuses on the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services. As the world's largest defense contractor, Lockheed Martin plays a critical role in the defense of the United States and its allies.

Lockheed Martin's portfolio includes renowned products like the F-35 fighter jet, the C-130 Hercules transport aircraft, and the THAAD missile defense system. The company is also a significant player in the space industry, notably developing the Orion spacecraft for future crewed missions to Mars. This diverse range of offerings makes Lockheed Martin a cornerstone of the U.S. defense industrial base.

The company's commitment to technological innovation is evident in its investments in hypersonic weapons, AI and machine learning, and cybersecurity. Lockheed Martin is also focused on expanding its international business, pursuing opportunities in Europe, the Middle East, and Asia. This dedication to growth and innovation ensures Lockheed Martin remains a leader in the global security and aerospace sector.

Northrop Grumman (NYSE: NOC)

Northrop Grumman is a leading global security company with 90,000 employees. They provide innovative solutions in autonomous systems, cyber, C4ISR, space, strike, and logistics and modernization to customers worldwide. Northrop Grumman is known for its expertise in developing cutting-edge technologies, including stealth aircraft, unmanned aerial vehicles (UAVs), and missile defense systems.

As a major partner to the U.S. government and its allies, Northrop Grumman provides essential capabilities for maintaining national security. Their expertise in developing cutting-edge technology is vital in addressing evolving global threats. The company's work in cybersecurity and autonomous systems is particularly noteworthy, shaping the future of warfare.

Northrop Grumman is committed to research and development, ensuring customers have access to the latest technologies. They are also focused on delivering value to shareholders through organic growth and strategic acquisitions, maintaining a strong balance sheet, and returning capital through dividends and share repurchases.

Raytheon Technologies (NYSE: RTX)

Raytheon Technologies is an aerospace and defense company formed in 2020 through the merger of Raytheon Company and United Technologies Corporation. With 180,000 employees, the company provides advanced systems and services for commercial, military, and government customers worldwide. Raytheon Technologies operates through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.

As a leader in the aerospace and defense industry, Raytheon Technologies develops and produces a wide range of products, including aircraft engines, avionics, cybersecurity solutions, missile defense systems, and space systems. These products and services are used by customers in over 150 countries.

Raytheon Technologies is committed to maintaining its technological edge through significant investment in research and development. The company plays a vital role in the global aerospace and defense industry, ensuring the safety and security of people around the world while contributing substantially to the U.S. economy.

Huntington Ingalls Industries (NYSE: HII)

Huntington Ingalls Industries is America's largest military shipbuilding company, with 42,000 employees. They design, build, and maintain nuclear-powered aircraft carriers and submarines, and provide after-market services for military ships globally. Huntington Ingalls also provides mission-critical national security solutions to government and commercial customers.

Huntington Ingalls Industries is the sole builder of aircraft carriers for the U.S. Navy and one of only two companies that build nuclear-powered submarines. The company's shipbuilding expertise is critical to the U.S. Navy's ability to maintain its global presence and protect national interests. Huntington Ingalls is also a major provider of technical and management services to the U.S. government.

Huntington Ingalls is committed to delivering quality products and services while investing in new technologies to improve its shipbuilding capabilities. The company is a vital part of the U.S. defense industrial base and a key contributor to national security.

Leidos (NYSE: LDOS)

Leidos is a major player in the national security arena, providing innovative solutions to the Department of Defense and intelligence agencies. Their work in artificial intelligence, machine learning, and big data analytics is transforming how these agencies operate and make critical decisions.

Leidos is also a leader in the civil market, offering a wide range of services to government agencies and commercial customers in areas like transportation, energy, and healthcare. This diverse portfolio demonstrates their ability to adapt and innovate across sectors.

With a strong commitment to its employees and the communities it operates in, Leidos is a responsible corporate citizen. Their focus on sustainability and environmental stewardship further solidifies their position as a valuable partner to its customers.

By Josh Owens

IMF's Proposed Carbon Restrictions Could Have Major Economic Repercussions

By ZeroHedge - Nov 25, 2024

The IMF proposes carbon restrictions far exceeding COVID lockdowns to achieve net zero emissions by 2030.

These restrictions could lead to economic devastation, energy shortages, and food insecurity.

The article questions the scientific basis for these measures and suggests ulterior motives such as wealth redistribution.


At the height of the covid lockdowns and mandates a massive portion of the global economy was shut down, leading to supply chain instability, huge job losses and a stagflationary crisis. However, climate change propagandists argued that the event was actually a positive for the planet when it was revealed that emissions fell by 5.4%. They asserted that the covid lockdowns were a practice run for what they called "climate lockdowns" - Presenting a plan for scheduled disruptions to global economic activity as a means to slow the effects of climate change.

Globalists also presented climate lockdowns as a kind of collective social punishment in the event that populations refused to cut carbon output on their own. As World Economic Forum "Agenda Contributor" Mariana Mazzucato argued in 2020:

"Under a “climate lockdown,” governments would limit private-vehicle use, ban consumption of red meat, and impose extreme energy-saving measures, while fossil-fuel companies would have to stop drilling. To avoid such a scenario, we must overhaul our economic structures and do capitalism differently.

Many think of the climate crisis as distinct from the health and economic crises caused by the pandemic. But the three crises – and their solutions – are interconnected..."

After a public uproar over the notion of extending pandemic lockdowns into climate lockdowns, the establishment media would go on to "Fact Check" the issue and assert that it was a "conspiracy theory." They lied.


The pandemic lockdowns would eventually be exposed as pointless; a disastrous drain on the global economy that did nothing to prevent the spread of the covid virus. But as we witnessed with most of the restrictions instituted during covid, the goal was never to protect the health of the populace. Rather, the goal was to acclimate the populace to an exponentially increasing list of violations of their basic freedoms.

One organization that has a distinct interest in diminishing economic activity for the sake of preventing global warming is the International Monetary Fund (IMF). In a recent 'call for global climate action' the IMF states that restrictions on economic activity and general emissions activity would have to far surpass those enforced during the pandemic in order to get to their stated temperature target of less than 1.5°C.

Open lockdowns of developed nations might not ultimately be the tool that globalists use to reach net zero, but carbon taxation on an oppressive scale could end up having the same effect. Carbon taxes could act like steep interest rate increases commonly used by central banks to slow economic activity during inflation. An indirect economic shut down of this magnitude would be absolutely devastating for western nations in particular, resulting in crippling energy shortages, food shortages, job losses, and eventually total collapse and a population plunge.

Net zero is not possible otherwise.

The IMF and other globalist organizations suggest that all nations must achieve a net zero carbon goal by 2030 in order to avoid the "climate cliff" - The theory that once the Earth hits warming of more than 1.5°C, there will be a domino effect which will lead to environmental catastrophe and even more carbon emissions and warming.


To be clear, there is no evidence whatsoever to support the idea of the climate cliff, primarily because there is no evidence of a causation relationship between carbon emissions and global warming. In fact, there is no evidence that that human industry has a warming effect on the climate whatsoever.

Temperature records for hundreds of millions of years prove that warming periods are a mainstay of the Earth's climate history. In comparison, our current era is one of the coldest, not the warmest. Climate scientists ignore this data and use temperature records going back to the 1880s. Meaning, their data is based on a mere 140 years of the Earth's history.



The current warming rate is not significant to other periods, nor is there any evidence that human activity is causing it. Data on carbon levels of the past show that temperatures do not necessarily rise in tandem with carbon activity. Carbon emissions are also far lower today than they have been in the past. The claim that carbon concentration due to human activity has a drastic influence on global temperatures (or weather) is absolutely unfounded.




The real reason for climate controls and carbon taxes seems to have far more to do with wealth redistribution from developed nations over to developing nations. The agenda is about centralizing the control of national wealth as well as individual liberties and private property. And the IMF, of course, would like to be one of the institutions at the helm of that wealth management empire.

By Zerohedge.com

 

Europe: Healthcare Workers’ Wage Disparities Deepen Workforce Crisis

Ana Vračar | 29 Nov 2024

• 
  
• 
  

Healthcare assistants across Europe face pronounced wage disparities, both internationally and between public and private sectors, exacerbating the ongoing health workforce crisis.

Nurses’ protest at the Christiansborg Castle Square, Copenhagen in 2021 demanding pay rises. The strike was one of several which have occurred across Europe in recent years to protest conditions in the sector. (Photo: via Danish Nurses' Organization)

Healthcare assistants are a crucial part of Europe’s health systems, yet their wages remain among the lowest in the sector. A new report by the European Federation of Public Service Unions (EPSU) reveals alarming disparities in pay, with wages falling behind inflation amid skyrocketing living costs. Combined with increasing workloads and task shifting, this creates an extremely precarious situation for workers.

In a comparison of 15 European countries, EPSU’s researchers found worrying disparities in healthcare assistants’ salaries, with wages varying by as much as four times between different countries. In Germany, an assistant’s median hourly wage is approximately €20. In Romania, it is less than €5. Romania stands out as an extreme case, with the report noting that even degree-qualified nurses earn, on average, 22% less than the national median wage. This wage gap offers a clear illustration of the reasons behind Romania’s struggle with health worker brain drain.

The issue is not just the international disparities in wages. Salaries for healthcare assistants often fall well below average and median national incomes. In some cases, such as in England, Ireland, and Spain, some workers are paid as little as the national minimum wage. Despite this, they are tasked with important responsibilities, including assisting with patients’ personal hygiene, helping with meals, and even monitoring vital parameters.

Many of these responsibilities were originally part of nurses’ workloads but have been transferred to assistants as part of a broader trend toward “task shifting.” Mainstream health policy analysts often view task shifting as a way to redistribute workloads within a decimated workforce. However, when it comes to employers and policymakers, task shifting appears to be equated with the expectation that workers will take on more tasks with significantly less training and pay than before. For example, in England, healthcare assistant training can take as little as one month, compared to the three years required to become a nurse.

According to Can Kaya from EPSU, there is another important aspect of task shifting that cannot be overlooked when discussing health workers’ rights. While it is often presented as a technical solution to a real problem, in practice, it frequently ends up becoming a measure to cut corners – and costs – when developing health workforce plans. “It means shifting tasks to lower-paid workers in order to save expenses,” Kaya explains. As a result, healthcare assistants find themselves trapped at the intersection of workforce shortages and austerity.

The presence of trade unions can help in this situation, addressing both salary levels and workloads across sectors. If unions are present, even in the private sector, the wage gap tends to get less pronounced, explains Can Kaya. For instance, the situation is different between select Scandinavian countries, where solid unionization rates in private institutions help narrow wage gaps, and Italy, where trade unions are still stronger in the public sector.

In some cases, healthcare assistants in the public sector can earn 30% or more than their counterparts in private institutions, which are spreading across Europe. The largest differences between public and private wages are observed, in addition to Italy, in Ireland, Spain, and Cyprus. This highlights another factor contributing to wage disparities, as Kaya explains: “The private sector is a business, with the goal of maximizing profit, which it achieves by paying workers less. Commercialization is a driver of lower wages.”

The situation faced by healthcare assistants today highlights the failures in Europe’s health workforce strategy. “The current staffing crisis is a national as well as a European crisis,” says Kaya. While national governments have a responsibility to protect the health and care sectors, Kaya emphasizes that the European Union must also take action, including revising its fiscal rules. “Austerity will only exacerbate the existing staffing crisis,” he warns. More decisive action and investment at all levels of European governance are essential to stop staff shortages and ensure safe staffing levels.

People’s Health Dispatch is a fortnightly bulletin published by the People’s Health Movement and Peoples Dispatch. For more articles and subscriptions to People’s Health Dispatch, click here.

Courtesy: Peoples Dispatch

How Lebanese Resistance Struck Heavy Blow Against Israel

Aseel Saleh | 30 Nov 2024

• 
  
• 
  

Hezbollah has inflicted considerable military losses on Israel, which obliged the US to press Netanyahu for a ceasefire deal.

Displaced returning to Beirut's southern suburbs. (Photo:Haitham Al-Moussawi).

After around 14 months of Israeli aggression, and two months of intense escalation, the Lebanese resistance group Hezbollah forced Israel to sign a ceasefire agreement and end its heavy aerial bombing campaign against Lebanon. The agreement, seen as a strong victory by the resistance group, was achieved despite the huge humanitarian and military losses inflicted on the Lebanese people and their resistance.

The Zionist onslaught claimed over 3,823 lives, and left at least 15,859 injured, according to the Lebanese Health Ministry. According to the United Nations High Commissioner for Refugees (UNHCR), around 1.2 million people were displaced during the war, in a country that has suffered a debilitating economic crisis since 2019.

The aggression caused considerable material damage in different sectors as well, further aggravating Lebanon’s economic plight. According to a report published by the World Bank on November 14, the cost of physical damages and economic losses that resulted from the war in Lebanon is estimated at 8.5 billion US dollars. This includes 3.4 billion dollars damage to physical structures, and 5.1 billion dollars in economic losses.

The most affected sector among all was the housing sector with around 100,000 housing units partially or fully damaged. Whereas, agricultural losses and damages are estimated at almost 1.2 billion dollars due to destruction of crops and livestock, alongside the displacement of farmers. In addition, the report estimated that 166,000 individuals have lost their jobs because of the war.

How Hezbollah persisted despite huge losses?

There are multiple reasons to believe that Hezbollah triumphed in its prolonged battle against Israel. Hezbollah is a group that operates within a limited geographical area, while surrounded by multiple national and regional geopolitical challenges. Whereas, Israel has been backed by the United States and the North Atlantic Treaty Organization (NATO), which has over 40,000 troops stationed in military bases across West Asia.

Nevertheless, Hezbollah showcased its steadfastness and blocked Israel from achieving any of its objectives. In a televised speech released on Friday, November 29, Hezbollah Secretary General Sheikh Naim Qassem described the triumph of Hezbollah in the war as a victory that is greater than that reached in 2006 despite all the sacrifices made by the group, and the Western support provided to Israel. “َWe are witnessing a great victory because we prevented the enemy from destroying Hezbollah, weakening the Resistance, and forced the enemy to justify itself to its public,” the top Hezbollah leader said.

Resistance re-unified Lebanese people against the enemy

Political sectarianism within Lebanon has been a major challenge on the national level. However, the latest Israeli aggression showed that the Lebanese people became more aware of the importance of national unity. In a televised speech, Lebanese House Speaker Nabih Berri said on Tuesday, November 27: “The war showed the true face of Lebanon in terms of national unity.”

In addition, Hezbollah has apparently garnered greater support and popularity by the Lebanese people in the aftermath of the Israeli aggression. In this regard, American-Lebanese journalist Rania Khalek said during a special live episode of Dispatches with Lebanese journalist Ghadi Francis: “I think that when it comes to Hezbollah, their enemies often forget that this is not just some group that exists completely detached from Lebanon, I mean we saw the same images today of Lebanese people who have been displaced going back to their villages and their towns, the first chance they got, whose flags were they waving? They were waving the Lebanese flags and they were waving Hezbollah’s flags.”

The role of unity among Lebanese sects and factions in foiling Israel’s attempts to incite a strife was stressed by Sheikh Naim Qassem, who said that “the occupation bet on internal discord with the hosts, but this gamble failed due to cooperation among sects and factions. The legendary and sacrificial [Martyrdom-Seeking] steadfastness of the fighters astonished the world, terrified the Israeli army, and sowed despair among the enemy.”

Hezbollah’s popularity across the region bounced back

On the regional level, Hezbollah has been surrounded by many countries that are both submissive to the US and its allies, and which consider Hezbollah a rival due to its anti-Zionist and anti-imperialist ideology that conflicts with their own political interests. For decades, the government of these countries worked hard to incite their people against Hezbollah, by systematically fueling a Shiite- Sunni sectarian and doctrinal strife through malicious propaganda.

Nonetheless, after Hezbollah became the major support front to Gaza, and sacrificed its leaders to defend the Palestinian people, which saw its popularity bounce back among the peoples of the region. Meanwhile the position of Arab and Islamic countries continues to be characterized by their inaction in the face of genocide and declining popularity.

Hezbollah’s steadfastness and resilience 

Hezbollah proved to be unshaken by the assassinations of its top leaders and by the massive terrorist pager and walkie-talkie attacks that it endured. The organization was able to recover in a record time and intensified its attacks against the invading Israeli forces, reaching positions deep in Israel through drone and missile strikes.

Hezbollah’s capabilities are deemed limited in terms of personnel, resources and weaponry when compared to Israel, which possesses huge and advanced weapon stock. However, the Lebanese resistance group was able to fight back relentlessly. Commenting on this specific point, Lebanese journalist Ghadi Francis said during the aforementioned episode of Dispatches: “You are talking about F-35s fighting people after the infiltration with the AI systems, and that couldn’t stop 560 sirens in three hours from blowing off and on in Tel Aviv, eight weeks after the trials to invade Lebanon, and one year after bombing and striking targets of all shapes and types in Lebanon.”

Moreover, from a military perspective, Hezbollah is said to have triumphed as it prevented IOF’s land incursions into southern Lebanon. In the instances when IOF soldiers were able to invade some villages and towns in the area, they were quickly pushed out by resistance fighters and unable to hold territory.

The Lebanese resistance group also managed to inflict considerable damage to key positions in Israel through more than 4,637 announced military operations over 417 days, with an average of 11 operations daily. According to a statement published by Hezbollah’s operation room on Wednesday, November 27, the group killed over 130 Israeli soldiers and officers, with more than 1,250 wounded during these operations. Meanwhile, 59 Merkava tanks, 11 military bulldozers, two Hummers, two armored vehicles, and two personnel carriers were destroyed. Furthermore, six Hermes 450 drones, two Hermes 900 drones, and one quadcopter glider were downed.

Israel’s losses were implicitly articulated by Israeli Prime Minister Benjamin Netanyahu in a press conference on Tuesday, November 26, when he claimed that reactivating the army, and overcoming the restrictions imposed on the arms supplies to ‘Israel’, were among the reasons that pushed Israel to approve the ceasefire deal.

Israel’s military failure in Lebanon is said to have driven the US administration to push Netanyahu towards the negotiations table for a ceasefire in Lebanon according to Member of Hezbollah Central Council Sheikh Hasan al-Baghdadi.

“What happened was due to the huge difference in capabilities between Hezbollah and the resistance in Palestine, which put the temporary entity in the circle of danger. Therefore, the Americans and others began to pressure Netanyahu’s government to stop the war out of fear for them and their certainty that the Israeli army is unable to win, not for the sake of Lebanon, as all the killing and destruction here were by American missiles,” Al-Baghdadi stated.

US and Israel’s plans for “New Middle East” fall apart again

The intended plans of the United States and Israel to re-shape the West Asia region have once again collapsed. Hezbollah has succeeded in preventing Israel and the US from tampering with the security, sovereignty, and unity of Lebanon. The Lebanese group also reaffirmed that resistance against the Zionist entity is a demand by people across the region, which in turn undermines Israel’s grueling efforts for expansion, normalization, and the liquidation of the Palestinian cause.

This was reaffirmed by Sheikh Naim Qassem in his Friday’s speech as he stated that Israel made its plans 64 days ago to eradicate Hezbollah, let Israeli settlers return to their residences in the north, and establish a “New Middle East”. However, Hezbollah managed to remain steadfast on the frontlines and launched airstrikes on the Israeli internal front, placing the Zionist entity in a significant defensive position. In addition, the number of displaced settlers in Israel has increased from 70,000 to hundreds of thousands.

Courtesy: Peoples Dispatch

Can Lebanon's Renewable Energy Sector Rise to the Challenge?

By Felicity Bradstock - Nov 24, 2024

Lebanon's energy crisis, characterized by regular blackouts and overreliance on diesel generators, has been exacerbated by the ongoing conflict with Israel.

The conflict has led to the displacement of over a million people, further straining the already overstretched energy infrastructure and deepening the economic crisis.

While private investment in solar energy has increased, providing some relief for those who can afford it, the lack of government investment and regulatory oversight has led to severe energy inequality.



Lebanon has been facing an energy crisis for several years, with regular blackouts leading to an overreliance on diesel generators for power. This is largely due to years of misspending public funds and underinvestment in the country’s energy infrastructure. Now, there are concerns that Lebanon’s ongoing conflict with neighbouring Israel could make it even more difficult to tackle the worsening energy and economic crises.

Lebanon has been facing a severe economic crisis for the last five years, owing largely to political instability, a financial crisis, and the Covid-19 pandemic. Unemployment rates have risen sharply, and the banking sector has been hit hard, with many losing confidence in the country’s financial institutions. Infrastructure development has lagged in response, primarily due to financing shortages. This has exacerbated the country’s energy crisis, with little public finance available for the state-owned electric company Électricité du Liban (EDL) to improve Lebanon’s energy system and limited interest from private and foreign investors due to ongoing economic and geopolitical instability.

In the summer of 2021, following years of on-and-off blackouts due to severe underinvestment in Lebanon’s ageing energy infrastructure, the country entered an energy crisis when the State became unable to secure the foreign currency needed to purchase fuel. Since then, the ESL has only been able to provide a few hours of electricity per day on average.

While the government has long been open to the development of Lebanon’s renewable energy capacity, it continues to rely heavily on fossil fuels for its power. In 2022, oil contributed 55 percent of Lebanon’s electricity generation, followed by solar PV (29 percent) and hydropower (16 percent). The government has introduced diverse energy policies over the last decade and a half to limited success.

In 2010, the government launched the National Energy Efficiency and Renewable Energy Action, a mechanism to support the financing of green energy projects across the country. In 2023, the government introduced a new decentralised renewable energy law, which simplifies regulatory processes and ensures grid access for decentralised systems. It encourages private sector participation and helps local communities to generate and manage their own energy, thereby reducing reliance on the unstable national grid. The government is now drawing up the second National Renewable Energy Plan (NREAP 2024-2030), which could support the development of a strong green energy sector and grow Lebanon’s renewable energy capacity to contribute 40 percent of electricity consumption by 2030.

The government has aimed to diversify Lebanon’s energy mix in recent years to enhance energy security in recent years. To date, the government has signed power purchase agreements for 11 projects with a projected total of 165 MW of PV capacity. Meanwhile, private investment in rooftop solar projects has increased as citizens respond to several years of unstable energy provision, regular power cuts, and rising electricity costs, which have driven many to rely heavily on diesel generators for power.

A 2023 report from the NGO Human Rights Watch stated that between November 2021 and January 2022, Lebanese households allocated 44 percent of their monthly income to meet their electricity needs, spending mainly on keeping their generators running. However, private investment in solar energy has risen sharply in the last couple of years, as those with the means are investing in personal solar power systems to provide a more stable flow of electricity – a longer-term solution to the lack of power than generators. The solar sector has expanded significantly, from a capacity of 100 MW in 2016 to around 1,000 MW by 2023, with little oversight and regulation. This has led to severe energy inequality in Lebanon between those who can afford solar panels and those who cannot.

In addition to battling continued economic and energy crises, the Lebanese government must now find a way to support hundreds of thousands of people who have been displaced due to the ongoing conflict with Israel. Between mid-September and mid-November, around 1.2 million people were reported to have fled their homes because of the conflict.

Since the beginning of the conflict, losses suffered by the public water and energy sectors have been estimated at $480 million. The energy sector alone has suffered more than $320 million in losses, due to increased demand from displaced persons, infrastructure damage, and revenue losses. The government and EDL are under pressure to provide economic support and energy to displaced persons under an already overstrained system. The longer the conflict persists, the more likely that the government will be unable to meet even the basic needs of the Lebanese population without external economic intervention.

Despite the government’s support for the expansion of Lebanon’s renewable energy capacity, there has been little formal sectoral growth. The country’s solar energy capacity has, instead, grown largely thanks to small-scale private investment in response to the failure of the EDL to provide a stable flow of energy to consumers. Lebanon has faced an economic and energy crisis for five years, with no end in sight. Further, the forced displacement of over a million Lebanese due to the conflict with Israel is likely to exacerbate the crises unless the government can attract funding from foreign actors to support short- and long-term investment in energy capacity growth and distribution.


By Felicity Bradstock for Oilprice.com