Canada’s Standard Lithium just brought 118 acres in southern Arkansas where it has plans for a $1.3 billion lithium extraction and refinement plant to help supply batteries for electric vehicles.

The Interior Department indicated the funding for the Osage Nation, the Muscogee (Creek) Nation, the Kiowa Indian Tribe of Oklahoma and the Chickasaw Nation was part of nearly $40 million in a first phase of funding through President Biden’s Investing in America agenda to help Tribal communities plug and remediate orphanied oil and gas wells across Indian Country.

Oil is headed as high as $150 a barrel unless the US government does more to encourage exploration, according to Continental Resources Inc., the shale driller controlled by billionaire Harold Hamm.

Today, renewable sources make up only 10.5 percent of power. That includes not only current projects but also others planned with promises they will soon come online

The world is currently consuming a record amount of oil — 102 million barrels per day (bpd) — and it’s increasing, even in the face of concerns surrounding a global economic slowdown.

U.S. oil output from top shale-producing regions is on track to fall for a third month in a row in October to the lowest level since May 2023

Industry executives and experts say companies are close to bringing to market technologies that extract lithium from brine in producing wells, creating a new revenue stream in an energy transition that’s threatening the oil industry’s bottom line.