Sign In or Create an Account.

By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy

Energy

IEA to Oil Markets: ‘Buckle Up’

On oil forecasts, DOE cuts, and the cost of coal

IEA to Oil Markets: ‘Buckle Up’
Heatmap Illustration/Getty Images

Current conditions: Breezy weather in Sarasota, Florida, is increasing today’s fire dangerTurin, Italy, is bracing for an April’s worth of rain in a single dayThe aurora borealis may be visible over the northern U.S. tonight and tomorrow thanks to a geomagnetic storm.

THE TOP FIVE

1. IEA report moderates expectations of global oil demand

The International Energy Agency released its monthly analysis of the global oil market on Tuesday, writing “buckle up.” The group cut its forecast by almost a third, estimating world oil demand will rise by 730,000 barrels per day in 2025, down from its estimate of just over 1 million barrels per day last month. The group further predicted the slowdown will extend into 2026 due to a “fragile macroeconomic environment” and the continued growth of EVs. Though “imports of oil, gas, and refined products were given exemptions from the tariffs announced by the United States,” IEA wrote that its analysis took into consideration “concerns that the measures could stoke inflation, slow economic growth, and intensify trade disputes.” The group noted that the new tariffs also make it more expensive to buy steel and the equipment required for drilling, and that “the situation is still fluid and substantial risks remain.”

On Monday, the Organization of the Petroleum Exporting Countries also cut its 2025 global oil demand forecast. Likewise citing the Trump tariffs, OPEC sees world oil demand rising 1.3 million barrels per day in 2025 and 1.28 million barrels per day in 2026, each down about 150,000 barrels per day from March’s forecast.

2. Energy executives, scientists warn Trump administration against cuts to DOE

On Monday, energy executives and trade groups formally warned the Trump administration that its cuts to the Department of Energy would sabotage the president’s stated goal of “energy dominance.” As Heatmap’s Robinson Meyer previously reported, the agency stands to lose nearly one-fifth of its employees to buyouts and layoffs, with The New York Times reporting Monday that some of the deepest cuts are anticipated at the Office of Clean Energy Demonstrations and the Loan Program Office, which also provides support for clean energy development. “LPO continues to play a critical role in financing infrastructure that enables new nuclear power development, revitalizes domestic mineral production, and modernizes both grid and gas systems — all central to the administration’s goals of lowering energy costs, reshoring manufacturing, and achieving energy dominance,” the 30 signatories wrote in the letter, which was addressed to Energy Secretary Chris Wright.

3. Coal push could strand ‘tens of billions’ of renewable interconnection investments

President Trump’s executive order meant to boost “beautiful clean coal” could cost “tens of billions” of solar grid interconnection investments, according to comments made by Grid Strategies president Rob Gramlich in a webinar reported on by PV Magazine. (Gramlich is also a Heatmap contributor.)

As my colleague Matthew Zeitlin pointed out last week, many of coal’s uses can be “easily substituted with other sources, such as natural gas,” which is part of why coal production has fallen in the U.S. since 2008. Trump’s order could extend about 50 gigawatts of coal that would otherwise likely have been retired, thereby limiting the amount of wind and solar that can come online. Gramlich’s co-host for the webinar, Roth Capital Partners Managing Director Phil Shen, added that he was “incrementally more pessimistic” about utility-scale solar given the administration’s bolstering of coal.

4. Wisconsin’s fire season is already one for the books

Wisconsin has seen a record number of wildfires in 2025, with local experts citing the warming climate and extended droughts as part of what is fueling the blazes. “We’ve never had this many fires in January and February ever in the state of Wisconsin,” Jim Bernier, the forest fire section manager of the state Department of National Resources, said in comments reported by Wisconsin Public Radio. Wisconsin averages around 864 wildfires annually; there have already been 470 wildfires in 2025, double what would be expected by this time of year. Making matters worse, researchers say that areas where urban development borders wildlands account for nearly 10% of the fire-prone land in the state. “We have to mentally prepare ourselves that … we’re in it for a long haul,” Bernier said.

5. More than 60% of climate voters are women

A new report released Monday found that women are “significantly more likely than men to name climate change or environmental issues as their top political priority.” The research, conducted by the Environmental Voter Project, revealed that 62% of climate voters are women, compared to just 37% being men. The divide is most pronounced among young voters, with women aged 18-24 twice as likely as men of the same age to list climate as a top priority. “This report confirms what so many of us have known for years: women are leading the charge against the climate crisis,” Jane Fonda said in a statement shared with the study’s release. “Mothers, grandmothers, and daughters are showing up, organizing, and voting like our lives — and the lives of our children — depend on it.”

Environmental Voters Project

THE KICKER

Making buses free in New York City would wipe out $600 million a year in net fare revenues for the Metropolitan Transportation Authority — but create $1.5 billion a year in benefits for riders, boost ridership by 23%, and save riders 36 million hours a year, according to a new study by the transportation economist Charles Komanoff.

Yellow

You’re out of free articles.

Subscribe today to experience Heatmap’s expert analysis 
of climate change, clean energy, and sustainability.
To continue reading
Create a free account or sign in to unlock more free articles.
or
Please enter an email address
By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy
Energy

The EPA’s Backdoor Move to Hobble the Carbon Capture Industry

Why killing a government climate database could essentially gut a tax credit

Lee Zeldin.
Heatmap Illustration/Getty Images

The Trump administration’s bid to end an Environmental Protection Agency program may essentially block any company — even an oil firm — from accessing federal subsidies for capturing carbon or producing hydrogen fuel.

On Friday, the Environmental Protection Agency announced that it would stop collecting and publishing greenhouse gas emissions data from thousands of refineries, power plants, and factories across the country.

Keep reading...Show less
Blue
Adaptation

The ‘Buffer’ That Can Protect a Town from Wildfires

Paradise, California, is snatching up high-risk properties to create a defensive perimeter and prevent the town from burning again.

Homes as a wildfire buffer.
Heatmap Illustration/Getty Images

The 2018 Camp Fire was the deadliest wildfire in California’s history, wiping out 90% of the structures in the mountain town of Paradise and killing at least 85 people in a matter of hours. Investigations afterward found that Paradise’s town planners had ignored warnings of the fire risk to its residents and forgone common-sense preparations that would have saved lives. In the years since, the Camp Fire has consequently become a cautionary tale for similar communities in high-risk wildfire areas — places like Chinese Camp, a small historic landmark in the Sierra Nevada foothills that dramatically burned to the ground last week as part of the nearly 14,000-acre TCU September Lightning Complex.

More recently, Paradise has also become a model for how a town can rebuild wisely after a wildfire. At least some of that is due to the work of Dan Efseaff, the director of the Paradise Recreation and Park District, who has launched a program to identify and acquire some of the highest-risk, hardest-to-access properties in the Camp Fire burn scar. Though he has a limited total operating budget of around $5.5 million and relies heavily on the charity of local property owners (he’s currently in the process of applying for a $15 million grant with a $5 million match for the program) Efseaff has nevertheless managed to build the beginning of a defensible buffer of managed parkland around Paradise that could potentially buy the town time in the case of a future wildfire.

Keep reading...Show less
Spotlight

How the Tax Bill Is Empowering Anti-Renewables Activists

A war of attrition is now turning in opponents’ favor.

Massachusetts and solar panels.
Heatmap Illustration/Library of Congress, Getty Images

A solar developer’s defeat in Massachusetts last week reveals just how much stronger project opponents are on the battlefield after the de facto repeal of the Inflation Reduction Act.

Last week, solar developer PureSky pulled five projects under development around the western Massachusetts town of Shutesbury. PureSky’s facilities had been in the works for years and would together represent what the developer has claimed would be one of the state’s largest solar projects thus far. In a statement, the company laid blame on “broader policy and regulatory headwinds,” including the state’s existing renewables incentives not keeping pace with rising costs and “federal policy updates,” which PureSky said were “making it harder to finance projects like those proposed near Shutesbury.”

Keep reading...Show less
Yellow