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Category: Energy

  • MIL-OSI Russia: Rosneft volunteers held a lesson in courage in a Saratov school

    Translartion. Region: Russians Fedetion –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    On the eve of Defender of the Fatherland Day, employees of the Saratov Oil Refinery (part of Rosneft) held a lesson in courage for students of the Cossack classes of Secondary School No. 43 in Saratov in honor of the 80th anniversary of the Victory in the Great Patriotic War.

    During the event, the children visited the plant’s museum, where they got acquainted with the exhibition display of the enterprise’s labor and military glory. The volunteers, in turn, told about the heroic work of the team during the Great Patriotic War. In 1941-1945, the plant produced a quarter of all fuel for the needs of the front, and, despite fierce bombing by enemy aircraft, made a significant contribution to the Victory.

    For its labor feat, the Saratov Oil Refinery was awarded the Order of the Patriotic War, 1st degree. The enterprise was also given the Banner of the State Defense Committee for eternal safekeeping.

    At the end of the excursion, the schoolchildren watched the documentary film “War of Motors”, created with the support of Rosneft. The newsreel tells about the role of fuel in the Great Patriotic War, as well as about the heroic work of oil workers in the rear, thanks to which the Red Army was continuously supplied with fuel.

    The Saratov Oil Refinery is actively developing the volunteer program “Good Deeds Platform”, within the framework of which employees, among other things, take an active part in historical, cultural and social-humanitarian initiatives. Volunteers conduct educational events and lessons that are aimed at preserving historical memory, forming spiritual and patriotic values in the younger generation.

    Reference:

    Secondary school No. 43 in Saratov is named after Hero of the Soviet Union, Army General Vasily Filippovich Margelov, a talented military leader during the Great Patriotic War. The first Cossack class was opened at the school in 2004, and today their number has increased to 18.

    Department of Information and Advertising of PJSC NK Rosneft February 21, 2025

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    February 22, 2025
  • MIL-OSI United Kingdom: Essential reforms to pave the way for clean power by 2030

    Source: United Kingdom – Government Statements

    Press release

    Essential reforms to pave the way for clean power by 2030

    Ambitious reforms to the government’s flagship renewables scheme will pave way for more projects to come online for clean power 2030 – helping to build an energy system that can bring down bills for households and businesses for good.

    • Government sets out proposals that pave the way for more homegrown, clean energy projects in the UK
    • consultation on flagship Contracts for Difference scheme includes proposals to remove planning barriers, bringing clean power online faster  
    • changes ensure auction remains fit for purpose and drives investment and growth, enabling government’s mission for clean power 2030 as part of Plan for Change 

    Building on the success of last year’s AR6 round, which delivered a record-breaking 128 projects with 9.6GW of capacity – enough to power around 11 million homes – the government is today (Friday 21 February) consulting on proposals to provide greater certainty to investors and a better deal for consumers, including:  

    • relaxing the eligibility criteria on planning consent for fixed-bottom offshore wind, helping to speed up new offshore wind farms coming
    • changing how offshore wind budgets are set and published, enabling funding to be invested more efficiently
    • increasing the Contracts for Difference contract term beyond the current 15 years, making renewables contracts more cost effective

    The UK is already home to the three largest operational offshore wind farm projects in the world, but the UK must secure even more to deliver clean power by 2030. Today’s reforms set out plans to secure the additional offshore wind the UK needs at a good price, delivering value for money to UK bill-payers. 

    Electricity generated by renewables will be the backbone of the clean power system by 2030, and the Contracts for Difference scheme is vital to deploying enough renewables that will deliver the capacity targets set out in the Clean Power 2030 Action Plan. This will get the UK off the rollercoaster of global fossil fuel markets while creating good jobs and driving economic growth. 

    The UK already has 30.7GW of offshore wind either installed or committed, with a further 7.2GW of capacity consented, against a target capacity range of 43-50GW needed for clean power by 2030. These reforms will enable the UK to go further and faster to secure its position as a clean energy superpower. 

    Energy Secretary Ed Miliband said: 

    Last year, we celebrated delivering the most successful auction round in history – now we want to go even further.  

    British families and businesses are bearing the cost of the reliance on petrostates and dictators who set the price of gas on the global market. 

    Our bold new reforms will give developers the certainty they need to build clean energy in the UK, supporting our mission to become a clean energy superpower and bring down bills for good.

    These proposals are the latest actions taken by the government to deliver clean power by 2030 and support growth. The government announced the launch of the Clean Industry Bonus, incentivising offshore wind developers to invest in cleaner supply chains and create jobs in industrial communities.  

    The consultation on reforms to the Contracts for Difference scheme is open for four weeks until 21 March, with a government response expected ahead of the AR7 round. 

    Notes to editors  

    Full list of proposed reforms being consulted on include: 

    • relaxation of eligibility criteria on planning consent for fixed-bottom offshore wind
    • changes to the way budgets for offshore wind are set and published, including allowing the government to view bid information in anonymised form
    • increasing the CfD contract term beyond the current 15 years
    • enabling CfD support for repowered onshore wind projects
    • extending phasing to floating offshore wind (FLOW) projects
    • increase the Target Commissioning Window (TCW) for solar projects from 3 to 6 months
    • removing the ability of existing CfD generators to apply surrendered capacity from previous allocations rounds into AR7

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    Published 21 February 2025

    MIL OSI United Kingdom –

    February 22, 2025
  • MIL-OSI Russia: A memorandum of cooperation was signed between SPbGASU and GC NEOLANT

    Translartion. Region: Russians Fedetion –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Victoria Vinogradova and Oleg Rukhlov

    A memorandum on the joint development of digital information models for nuclear power facilities, the fuel and energy complex and industry was signed between the NEOLANT Group of Companies and SPbGASU. It was signed by the Vice-Rector of SPbGASU for Continuing Education Victoria Vinogradova and the General Director of NEOLANT Group of Companies Oleg Rukhlov.

    JSC GC NEOLANT is a developer of domestic digital solutions such as 3D-CAD POLYNOM, laser scanning data processing and recognition system Nord LS, heterogeneous CAD data translation system Interbridge Pro, as well as the domestic engineering data management system (EDMS) NEOSINTEZ. NEOLANT software solutions have been selected by the State Atomic Energy Corporation Rosatom for the implementation of the Corporate Information System Digital Preparation of Decommissioning (CIS CPDE).

    The memorandum establishes the procedure for interaction in the preparation of the university’s faculty and students for the use of NEOLANT Group software products for educational, scientific and commercial purposes, as well as on issues of joint implementation of promising specialized R&D, R&D and other research and design work with the participation of students and teachers of SPbGASU.

    At the signing ceremony, Oleg Rukhlov noted: “By signing the memorandum of cooperation, we undertake to implement an import substitution program in the construction, architectural and engineering spheres by introducing the latest Russian products that have already earned the respect of leading Russian corporations. We are pleased to share unique knowledge and connect our products to the training of students, teachers, young professionals throughout the country and for the benefit of the entire country.”

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    February 21, 2025
  • MIL-OSI United Nations: How UNECE tools help shift to more sustainable critical raw materials governance

    Source: United Nations Economic Commission for Europe

    The global landscape of critical raw materials (CRMs) governance is undergoing a profound transformation. The United Nations Secretary-General’s Panel on Critical Energy Transition Minerals (CETMs) aims to catalyse a shift from extractive, short-term policies to a model prioritising equity, sustainability, and industrial transformation. The UN Framework Classification for Resources (UNFC) and the UN Resource Management System (UNRMS), developed at UNECE, provide practical tools to make this a reality on the ground. 

    Discussions at the International Round Table on Materials Criticality (IRTC) 2025 Conference (19-21 February, Ljubljana) themed “From Raw Material Policies to Practice,” together with the workshop on North-South Collaboration in CRMs, highlighted trends in the transition from resource extraction to more responsible resource stewardship. 

    The CETM Panel’s guiding principles, emphasizing resource sovereignty, sustainable supply chains, and fair market access, prompt policymakers, industries, and investors to rethink outdated CRM strategies. Regional trade frameworks like the EU-Mercosur Partnership Agreement are beginning to reflect this new reality, embedding strong environmental, social, and economic governance standards into CRM agreements. 

    A new model for North-South collaboration 

    This policy shift is shaping a new model of North-South collaboration, moving beyond the historical raw material export model toward domestic value addition, industrialization, and technology partnerships. Discussions highlighted the shift from extraction to processing in the Lithium Triangle (Bolivia, Argentina, Chile) and the potential to integrate sustainability and social responsibility in CRM development. Over the past seven years, lithium operations in the region have significantly reduced water use while increasing investment in local communities. Indonesia’s nickel beneficiation strategy, which triggered a 20-fold increase in local investment, was highlighted as a blueprint for future CRM development. 

    The workshop on “Equity, value, and Innovation: North-South Collaboration for Sustainable CRM Development”, organized by UNECE and ESM Foundation, reinforced that North-South collaboration must be redefined not as a dependency but as a partnership. Nations in the Global South are no longer just suppliers of raw materials—they are increasingly asserting control over processing and production. The African Green Minerals Strategy (AGMS) is a step in this direction, integrating fiscal incentives, infrastructure, and investment policies to build entire mineral-based industrial value chains. 

    UNFC & UNRMS: Tools to write the future, not repeat the past 

    No longer just theoretical frameworks, UNFC and UNRMS are being actively implemented across Europe, Africa, and Asia-Pacific, offering a transparent, standardized, and future-proofed approach to CRMs governance. These tools empower resource-rich nations to make informed decisions that balance economic benefits with environmental and social responsibilities.  

    The road ahead 

    As industry leaders, policymakers, and researchers align around these principles, the future of CRMs governance will be dictated not by short-term market fluctuations but by long-term strategic planning. Karen Hanghøj, Director of the British Geological Survey and Chair of the Expert Group on Resource Management at UNECE said, “We are not only witnessing a shift in resource governance—we are shaping a new paradigm. The challenge is ensuring these principles translate into concrete policies that empower resource-rich nations while securing stable and sustainable supply chains. UNFC and UNRMS are more than technical frameworks—they are tools for writing the future of resource management, ensuring that we do not repeat past mistakes”.

    MIL OSI United Nations News –

    February 21, 2025
  • MIL-OSI Russia: The Acceleration Interuniversity Program “City Energy. Environment 2.0” has been launched at the State University of Management

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    The acceleration program is carried out by the State University of Management in cooperation with the industrial partner of the State University of Management – OOO TEN Group – the TechnoSpark technology park in the city of Troitsk.

    Thematic areas of the accelerator: – TN1. Technologies for comfortable and safe human life; – TN2. Technologies of “green energy”; – TN3. Resource-saving systems, lean, digital technologies.

    These thematic areas of the Accelerator correspond to the critical technologies of the Russian Federation, approved by the Decree of the President of the Russian Federation of July 7, 2011 N 899, contribute to solving the problems of ensuring the technological sovereignty of the Russian Federation, and correspond to the markets of the National Technology Initiative.

    The acceleration program implementation period is February – June 2025.

    The acceleration program consists of the following educational events: — lectures; — traction meetings (held in the form of team meetings with a tracker to develop a project); — expert presentations from representatives of the partner companies of the State University of Management in the thematic areas of the accelerator; — the Equator event, where teams present the intermediate results of their projects; — the Pre-Defense event, where teams present to other teams and trackers. Trackers make a decision on admission and recommendation of a team to participate in DemodDen; — the DemodDen event, where teams present the results of their projects to invited external experts.

    The head of the acceleration program “City Energy. Environment 2.0” Ekaterina Khalimon talks about the features of the program:

    “This year, the implementation model of the 7th acceleration program based on the State University of Management has undergone some changes. Firstly, it is implemented entirely by the State University of Management, without attracting third-party funding and without attracting the services of third-party organizations. Today, the State University of Management has a sufficient number of highly qualified specialists who can efficiently implement the conceived ideas. The State University of Management has already accumulated practical experience. The acceleration program “City Energy. Environment 2.0” is the 7th acceleration program carried out on the basis of the State University of Management. Since 2022, over 5,000 students have been trained in acceleration programs in the field of technological entrepreneurship based on the State University of Management.

    Secondly, an important emphasis was placed on interuniversity coverage: if in previous accelerators 80% of participants were SUM students, then in this program we want to achieve a 40/60 ratio, where 40% are SUM students, and 60% are students from third-party universities, attracted by SUM students themselves based on the team’s requests. We understand that SUM trains talented managers who can package any project, calculate, plan, and brilliantly present it to investors. But if we want to achieve prototypes and deep project development, then engineers, programmers, doctors, and students from other fields of study need to be attracted at the earliest stages of project development. The experience of the 6th acceleration program “Healthy Life Technologies 2.0” showed that teams that included both managers and students from other universities demonstrated a high degree of development of their projects, demonstrated prototypes, sketches, and conducted experiments in the laboratories of partner universities.

    And finally, the third feature of the current acceleration program “City Energy. Environment 2.0″ is that at the project initiation stage we provide students with requests for technological innovations received in January 2025 from the industrial partner of the State University of Management – the TechnoSpark technology park. The requests concern such areas as: urban infrastructure, hydrogen energy, automation of warehouse complexes, waste disposal, synthesis of coal, peat, biomass. In total, over 30 requests have been received in these areas. Close cooperation with such a large partner allows us to develop projects and products that are already urgently needed by our domestic manufacturers.”

    The accelerator trackers are teachers from the project management department who are certified project management specialists, active entrepreneurs, and experts in tracking and mentoring student startups.

    Following the results of the Acceleration Program, teams that have passed the Demo Day will receive feedback from invited experts and representatives of the technology park, the best teams will be invited to practice at the company for further work on projects.

     

    Subscribe to the tg channel “Our State University” Announcement date: 02.21.2025

    технопарком «ТехноСпарк» города Троицка….” data-yashareImage=”https://guu.ru/wp-content/uploads/IMG_6074-1-scaled.jpg” data-yashareLink=”https://guu.ru/%d0%b2-%d0%b3%d1%83%d1%83-%d1%81%d1%82%d0%b0%d1%80%d1%82%d0%be%d0%b2%d0%b0%d0%bb%d0%b0-%d0%b0%d0%ba%d1%81%d0%b5%d0%bb%d0%b5%d1%80%d0%b0%d1%86%d0%b8%d0%be%d0%bd%d0%bd%d0%b0%d1%8f-%d0%bc%d0%b5%d0%b6/”>

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

    February 21, 2025
  • MIL-OSI USA: Senator Murray on Senate Republicans’ Pro-Billionaire Budget Resolution, Trump and Musk’s Devastating Funding Freeze and Mass Firings

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Murray: “Republicans are going down this partisan path because they know Democrats are not going to join them in throwing Medicaid, nutrition assistance, and veterans’ benefits into the wood chipper so they can throw more tax cuts at billionaires and the biggest corporations.”

    Murray: “We should not be taking kids out of child care to give billionaires a tax break. We should not be taking food off the family table to put more fuel in private jets.”

    ICYMI: Senator Murray speaks at Budget Committee markup of resolution, offers common sense amendments rejected by Republicans

    ***VIDEO HERE***

    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee and a senior member and former chair of the Senate Budget Committee, took to the Senate floor to forcefully speak out against Senate Republicans’ budget resolution that will help billionaires at working families’ expense—as well as the Trump administration’s lawless mass firings and ongoing funding freeze that is hurting people and jeopardizing critical services they need in every part of the country. She also underscored how a clean full-year CR is not an acceptable solution to government funding.

    Senator Murray’s remarks, as delivered, are below:

    “Thank you M. President. We need to be focused on solving problems—and I think most of us here get that.

    “No matter who the President is, our constituents expect us to work for them. They expect us to fight for them. And they expect us to do the hard work of passing laws to make their lives better.

    [TRUMP LEAVING FARMILIES IN THE DUST]

    “People don’t send us here to make their lives worse. But that’s exactly what Trump and Musk are doing. They are looking at our most pressing problems—and making them so much worse. And this budget proposal will only add fuel to the fire.

    “Right now—even as egg prices hit an all time high—Trump and Musk have done nothing to lower prices.

    “They’ve done nothing to address the housing crisis, or help families get quality, affordable child care—or address other issues I hear about from folks all the time.

    “Instead, they are slashing programs that help our families make ends meet, they are gutting an agency that saves working people money and protects them from scams, and starting trade wars that will impose what is effectively a Trump sales tax entirely on the backs of American workers.

    “As China works to strengthen its global leadership, Trump and Musk have ceded the ground almost entirely—illegally cutting off investments we make to continue our country’s leadership and help allies.

    “At the most precarious moment for the Middle East in decades—Trump is casually proposing to ethnically cleanse Gaza so that Trump and his family can build waterfront property there.

    “When it comes to helping our allies in Ukraine secure a just peace—Trump is giving away countless concessions to Putin out of the gate, calling our ally a dictator and meeting with Russia without inviting Ukraine.

    “When it comes to the Bird Flu—Trump and Musk are firing the very workers who are responsible for tracking the disease and keeping it from spreading further. And now, suddenly, they are desperately trying to hire them back.

    “And as Texas deals with a serious measles outbreak, Trump’s Health Secretary can’t even confirm the obvious, and tell parents the vaccine doesn’t cause autism—which, to be clear, it does not!


    “And, almost unbelievably, just weeks after the deadliest commercial plane crash in the U.S. in over two decades—Trump and Musk are firing FAA workers who make sure flying is safe. Who does that help?

    “And now Trump is letting Musk run wild by inappropriately accessing and rifling through sensitive SSA and Treasury files, with IRS being next—your data! How does that make sense?

    “But while President Trump is busy making problems worse, and trampling our laws, and quoting dictators—what are we doing here in the Senate?

    “Are we holding President Trump accountable? Are we holding his co-President, Elon Musk—the richest man in the world, who has billions of dollars in conflicts of interest—accountable? 

    “Are we putting a stop to the catastrophic cuts and reckless firings that are hurting people and our communities, and setting our country back decades?

    “Seems to me that would be a good use of our time—after all, I’ve even heard some Republicans admit that cutting things like medical research, and firing people like VA workers are bad ideas. So you would think—maybe—we could work together from that common ground.

    “But instead—Republicans are throwing all their effort behind a partisan plan to slash and burn programs that help our families, and raise costs for everyday Americans, and shovel billions of dollars to help people who already have billions of dollars.

    “Meanwhile, I would like to remind my colleagues we are less than a month away from a deadline to pass bills to fund our government. And as we approach that deadline, the entire world is watching as President Trump and Elon Musk shut the government down bit-by-bit—whatever parts Elon doesn’t like.

    [TRUMP AND MUSK’S RECKLESS, HEARTLESS MASS FIRINGS]

    “Trump and Musk are already showing thousands of essential workers the door—despite the fact that they have no clue what these workers do, or why their jobs matter. They’re just turning off the lights and hoping for the best! 

    “I am hearing so much alarm about this back home—from fired workers and from the people who depend on them.

    “Trump and his co-president are shuttering entire agencies, they are locking workers out of their devices and out of their buildings, and demanding the work of the American people come to a screeching halt—again, for no good reason.

    “And let me really drive home just how damaging and extreme these firings are—because we are not talking about some routine changing of the guard or some thoughtful or strategic plan to make government more efficient.

    “Trump and Musk are just taking a wrecking ball through the U.S. government. They don’t care what they smash up. They don’t care who they hurt. And they don’t seem to have any idea just how painful this is for American families.

    “We are talking about tens of thousands of people—and counting—being pushed out the door without any plan, and without any justification beyond Trump and Elon want to slash and cut with reckless abandon.

    “This has nothing to do with making government more efficient—it is about breaking it beyond repair.

    “Fundamentally, this is not about cutting waste or curbing fraud. Instead, this is about putting the federal workforce into ‘trauma’—that’s how OMB Director Russ Vought callously put it. 

    “So, they are mass firing hardworking women and men—many of them veterans—whose only mistake was serving our country, serving our communities, and believing they wouldn’t get stabbed in the back by a wannabe dictator and the richest man in the world.

    “And, setting aside the fact that many were illegally fired and without real cause, it’s not just the workers who are suffering because of this.

    “These cuts undermine essential services for the American people—right down to some of the most basic functions of government.

    “Trump and Musk are firing people who help Americans find quality, affordable health insurance, people who help small businesses get a loan, people who help communities and families get back on their feet after a disaster, and people who help Americans get their tax refunds.

    “They are firing people who help our economy stay competitive—from firings that undermine energy projects and thousands of good, new jobs, to firings that undermine innovation and technology, to firings that are hurting our farmers and undermining agricultural research.

    “They are laying off National Park Rangers—which will mean longer wait times, dirtier bathrooms, delayed emergency responses, and closed parks.

    “They fired Forest Service workers who are crucial to preventing wildfires.

    “Again, I have to emphasize, they are firing FAA workers for crying out loud—including personnel who work on radar, landing, and other critical infrastructure that help our aircraft navigate safely.

    “They are firing these people, and pretending it is no big deal, all just weeks after the deadliest crash our nation has seen in decades.

    “Trump and Elon might not fly commercial—but the rest of us do.

    “In the Pacific Northwest, the Bonneville Power Administration is losing hundreds of highly skilled workers. This includes everyone from electricians and engineers, to dispatchers, to lineworkers, to cybersecurity experts, and so many others.

    “These are literally the people who help keep the lights on—and now they’re being fired on a whim because Trump and Elon Musk don’t have a clue about what they do and why it’s important, and you know what? They don’t care to learn.

    “They don’t even seem to understand that these are positions funded by ratepayers—by all of us who live in the Northwest—they are not from federal funding.

    “Trump and Musk have even fired over a thousand VA workers, including people who are doing lifesaving research for our veterans—research to prevent veteran suicide, build life changing prosthetics, address opioid addiction, and more.

    “These layoffs could mean longer wait times for veterans to see their health care providers. It could mean ongoing clinical trials coming to a sudden stop. It could mean delays getting your disability claims approved.

    “Because Trump and Musk went ahead and fired clinicians and claims raters—even while the current back log of disability claims is over 250,000!

    “That is not just a betrayal of these public workers—it is a betrayal of our women and men who have served us in uniform.

    “And it is also worth noting—many of the workers being fired are veterans themselves. Trump is firing veterans.

    “And let’s not forget the thousands of NIH researchers who are having their research thrown into jeopardy, and the patients who are watching President Trump carelessly toss their best hope for a cure into the shredder.

    “Or CMS experts, who were working on improving maternal health outcomes so fewer pregnant women die in this country.

    “And medical research layoffs aren’t the only ones putting American lives at risk because Trump and Musk are firing public health workers who respond to disease outbreaks, cybersecurity experts who protect our critical infrastructure, sensitive systems, and our data, scientists who make sure our water and air are clean, and that we are ready for extreme weather, workers that help communities prepare for, respond to, and recover from disasters—not to mention, members of law enforcement who help stop violent criminals—and of course, our nuclear engineers!

    “Seriously—people who manage our nuclear weapons stockpile were being fired by the hundreds, with no real strategy. 

    “And we know there isn’t a strategy—because then Trump and Musk frantically turned around and rehired many of them.

    “And we also know they haven’t learned their lesson—because they just did the exact same thing to workers responding to bird flu.

    “Reckless layoffs—followed by ‘Wait, no! Come back!’ That is not a plan.

    “To callously fire people who help us stay ahead of deadly diseases, or who maintain a safe, secure, and reliable nuclear weapons stockpile—that is the height of dangerous incompetence.

    “And nuclear clean-up work has been hit as well. I’ve been fighting to get more resources for the Hanford clean-up in Washington state for years—it is already understaffed, and now Trump is actively making things worse.

    “I have heard directly from workers at Hanford who have been laid off—even after some were recognized just this past year for their outstanding work. And by the way: that underscores another reality of these firings—they have absolutely nothing to do with merit.

    “In fact, the way they are targeting new employees includes people who were recently promoted—so now these workers are getting fired from their newly earned jobs. Literally pushing out some of our best performers and our most committed workers.

    “Oh, and one more thing—they are even illegally firing the government watchdogs who provide accountability and prevent fraud.

    “If Trump and Musk were really committed to tackling waste, fraud, and abuse, would they fire the very people serving in nonpartisan roles whose very job is to uncover and reduce waste, fraud, and abuse?

    “If they were really interested in transparency, would they have torn down websites where the public can find information about agencies’ spending and policy?

    “The list of pointless, actively dangerous firings goes on, and on, and on. It grows by the day—as does the fallout and alarm being caused by it. My phones have been ringing off the hook—and I know I am not the only one.

    “Again, these sweeping layoffs do not address fraud or waste. These firings are totally arbitrary—pushing out high performers and the promising next generation of our federal workforce who won’t be easily replaced. Not to mention—the hiring freeze prevents them from even trying!

    “And here’s the thing that is so important to remember: these are people who have families, who work hard, who love their country. They are not being sent packing because they’ve done anything wrong or because their work is not important.

    “They are being pushed out simply because Trump and Musk are trying to break the government—trying to make it not work for the people who need it. It is wrong, and if this doesn’t stop now, it will be catastrophic.

    “The scale and scope of Trump and Elon’s purge will set our country back decades. It is not like you can fire everyone, say ‘oh wait, my bad,’ and rehire everyone with the snap of a finger.

    “If you are a VA medical researcher working for less than you could make in the private sector, and you’re fired by a billionaire who decides your research on cancer and burn pit exposure isn’t worth the investment, would you want to come back? Especially with the chaos and sheer incompetence of this administration?

    “The federal government is not Twitter. You can’t just fire everyone and break things and hope for the best—people’s lives are at stake.

    “Elon Musk has no clue what nuclear safety engineers do at Hanford. He doesn’t care that the Social Security Administration is already understaffed, and that pushing more of those federal workers out the door will make life harder for seniors.

    “This effort to push out and arbitrarily fire federal workers is going to break something, worse than it already has—and it’s going to break it irreparably.

    “When that happens, the blame will fall squarely on Trump, Musk, and Republicans.

    [TRUMP AND MUSK’S ILLEGAL FUNDING FREEZE]

    “And it is not just people being fired that is a serious problem—there are also funds still being frozen without rhyme, or reason, or any legal authority for Trump to do that.

    “So I’m not only worried about the fast-approaching funding deadline in March—I’m worried about the de facto government shutdown happening right now.

    “As we speak, Trump and Musk are still illegally blocking hundreds of billions of dollars in funding we all secured for the people we represent back home, putting good-paying jobs on the chopping block, creating incredible uncertainty for businesses, stalling funds for infrastructure and energy projects, and so much else.

    “As another week of Trump’s illegal funding blockade has come and gone, still, reports are coming in from across my state, and across the country—of the chaos and cuts this is causing.

    “And yet, little to nothing has been done by this administration to restore investments people in red and blue states are counting on. And Republicans here in Congress continue to sit by idly while our communities are robbed of hundreds of billions of dollars in bipartisan spending.

    “Meanwhile, it’s our workers, it’s our families, it’s our businesses that are feeling this consequence.

    “With each day that passes, the uncertain fate of these investments takes a toll of its own: ever-growing anxiety for workers whose jobs are in jeopardy, for farmers who are eyeing the calendar and waiting on resources that they are owed, and for business owners worried a ripped-up contract might put them under.

    “I’ve heard USDA grants have been cut off to rural businesses and farmers in my home state of Washington—and it is putting those hard-working Americans in dire straits.

    “A small laundromat ordered new machines—but Trump is now stiffing them on funds they need to make the payment.

    “A wheat farmer installed solar panels under a federal program—but Trump is going to leave them holding the bag.

    “A greenhouse has completed its end of the bargain to install upgrades—but Trump has stopped the federal government from doing the part it promises.

    “And there are so many other federal investments on hold as well: Forest Service funding to reduce wildfire risks and restore ecosystems. EPA funding for clean water infrastructure and clean-up work at superfund sites. HUD and Department of Energy investments to bring down folks’ energy costs and create new, good-paying jobs. Funding for our roads, bridges, transit, flood mapping, fisheries—and so many other things.

    “Medical research has also been completely upended at research institutions across the country—throwing lifesaving research, clinical trials, and patients into uncertainty.

    “Meanwhile they have not only illegally blocked our foreign assistance and shuttered USAID programs that bolster our global leadership and make the world safer for Americans—they are now illegally dismantling the Department of Education.

    “They have already bulldozed the independent research arm of the Department of Education—taking a wrecking ball to ongoing evidence-based research and basic collection data we need for accountability to improve student outcomes at our K-12 schools and colleges.

    “And, among the many contracts Trump cancelled with his executive orders was funding for a program that helps students with disabilities transition from high school to work and work to improve adoption of evidence-based literacy practices in Washington state. These billionaires have no idea what programs they are cutting.

    “Given the chaos of all these efforts—from Trump’s sweeping, radical, and illegal Executive Orders, to Elon Musk jumping from agency to agency and doing seemingly whatever he pleases and whatever is good for his businesses—it’s getting hard to even keep track of all the funding that is being illegally blocked.

    “Even stuff they say is not blocked, or say has been unblocked—is still frequently frozen.

    “But one thing that is clear? This is hurting our families. It is hurting our communities. And it needs to stop.

    “Remember, Musk is the richest man on earth—with deep business ties to China and a direct line to Putin.

    “Republicans have chosen to stand by and twiddle their thumbs, as he unilaterally, clandestinely, and illegally cuts our constituents off from the federal investments they are owed and badly need.

    “We have zero insight or oversight of what conflicts of interest Musk has as he chokes off government funding left and right, and as he hands over our sensitive financial data and systems to patently unqualified individuals with no accountability.

    “This multi-billionaire is operating completely in the dark, hoping his lies are loud enough to drown out any calls for truth or for transparency.


    “You can agree or disagree about federal spending—goodness knows we have debates on it here—but it is a complete lie to try and say this is all fraud, or waste, or a conspiracy.

    “As a long-time Appropriator—I can tell you—we debate these bills publicly, we post the details out in the open. We pass them in a bipartisan way.

    “Republicans overwhelmingly supported the individual bills we put together in Committee last year—many unanimously.


    “Spending is not a ‘conspiracy’ just because Elon Musk doesn’t know how to read USA-Spending.gov.

    “A program is not waste just because it doesn’t help the richest man in the world. It is not fraud just because he doesn’t like it.

    “A law is not illegal just because he disagrees with it. This guy just does not know what he is talking about—and it is frankly embarrassing, he doesn’t know how to count!

    [MUSK, DOGE LIES AND CORRUPTION]

    “The ‘DOGE’ website says it is slashing $55 billion—but it only lists $16.6 billion, and half of that is a typo.

    “They took $8 million with an M—as in ‘Musk can’t count’—and counted it as $8 billion with a B—as in ‘BS.’ That is not saving money—it is poor reading comprehension.

    “Speaking of reading comprehension—I don’t think Elon fully grasps what the concepts of ‘transparency’ and ‘accountability’ mean.

    “When he tweeted out the names of government employees months ago—and again this month even—that was ‘accountability,’ but when reporters name people gaining illegal access to Treasury’s payment system, that is a crime?

    “Elon Musk gets to look at all of our most sensitive data but no one gets to look at what he is actually doing? That cannot be the standard.

    “It’s not ‘maximally transparent’ for Elon Musk to decide for himself what he shares publicly about his actions.

    “It is maximally concerning—especially given there are many obvious conflicts of interest—but Elon has not recused himself from a single decision.

    “How is it not a conflict—when the owner of Space X is gutting NASA while taxpayer funds to his company keep flowing?

    “How is it not blatant corruption—when the owner of Tesla is freezing grants and loans that benefit his competitors?

    “How are we supposed to just trust him, when he is probing agencies that have done—or are doing right now—investigations into his businesses?

    “Trump fired the Ag Inspector General who was investigating Elon’s company, Neuralink—and then fired the FDA officials who were reviewing it.


    “He fired the EPA Inspector General and Transportation Inspector General as they were looking at Tesla.


    “He fired the Labor Inspector General—as the Department has several investigations into Musk’s companies.

    “And Trump fired the Defense Inspector General who was looking at Space X—and notably, Musk’s connections to Putin.

    “And it’s not just Musk who is concerning—he’s brought on an army of walking red flags to pry into our government’s most sensitive data.

    “How are Americans supposed to feel, knowing someone who was previously fired for leaking sensitive information from their employer is digging through your most private financial data?

    “How are Americans supposed to feel, knowing someone who engaged with prominent white supremacists and misogynists online is helping to shutdown USAID?

    “How are they supposed to feel, knowing someone who tweeted explicitly racist statements, someone who said they were, quote, ‘racist before it was cool,’ was given control over incredibly important Treasury payment systems?

    “What sort of vetting—if any—is going on here? Are they trying to pick the least qualified, most concerning people? Hey Elon—you are supposed to filter out red flags—not select for them!

    “The American people deserve transparency—if Elon Musk really has nothing to hide, then he should leave his safe place on X and at Trump rallies and come before us at a Congressional hearing to be held accountable to the public.

    [TRUMP HURTING PEOPLE IN RED AND BLUE STATES]

    “What they are doing here is not just illegal—it is devastating for working people in every single zip code in America, red and blue states alike.

    “Right now, we need to be speaking out with a unified voice to ensure that when Congress passes a bill, the law is followed.

    [DANGERS OF A FULL-YEAR CR]

    “And we need to focus on negotiating serious funding bills on a bipartisan basis ahead of the fast-approaching March 14th deadline. That is exactly what I am trying to do right now. And, a long term CR should not be acceptable for anyone here.

    “As I have reminded my colleagues many times now: there is a world of difference between a short term CR that gives us additional time for good faith negotiations on our full-year funding bills, and a long term CR that would not only create major shortfalls for critical programs, but would also hand vast power over spending decisions to an administration that absolutely cannot and should not be trusted.

    “Passing a clean full year CR would, first of all, create major shortfalls and fail to adjust for new realities on the ground.

    “It could mean that instead of babies getting fed through WIC, moms are getting put on a waitlist for the first time in that program’s history. And instead of families getting rental assistance, they get cut off.

    “A clean full year CR means veterans are not able to get the care they need and benefits they have earned in a timely way.

    “And it means our military falling behind—from forcing cuts across DoD, to pausing promotions, station changes, and other really essential functions.

    “It also means losing opportunities to provide new resources for new challenges, and to provide a check on Trump policies—including ones it is clear members on both sides have issues with.

    “And on that note, I want to emphasize this—because this is really critical—unlike a short-term CR, a clean, full-year CR means hundreds of specific funding directives from Congress fall away, effectively creating slush funds for this administration to adjust spending priorities and potentially eliminate longstanding programs as they see fit. That is a nonstarter.


    “With a full-year CR, Congress would be turning over our power of the purse to a President who has already shown he couldn’t care less about the separation of powers.

    “A yearlong CR could be a green light for President Trump, Elon Musk, and Russell Vought to redirect funding to their own pet projects—and slash, burn, and zero out programs we have supported from Congress, that our families count on.

    “Maybe they siphon money away from public schools. Maybe they slash federal work study grants and other financial aid. Maybe they zero out money for national parks or monuments they think are too ‘Woke…’ or what would that even mean!

    “Maybe they scrap all our oversight of immigration courts, or end family reunification efforts, or dismantle the guardrails for detaining immigrants—something we are already seeing, by the way, with the use of Guantanamo Bay.

    “They could cut funding to eliminate HIV, address maternal mortality, or increase vaccination rates.

    “They could turn our constituents’ priorities into slush funds. Clean energy investments could become a payday for fossil fuels. Money meant to stop fentanyl and opioids could fuel private prison operations and mass deportations.

    [THE COMMON SENSE, BIPARTISAN PATH FORWARD]

    “Congress must detail its spending priorities—and direct President Trump to implement these programs faithfully by passing appropriations bills just as it does every year.

    “There is truly no telling just how far they will go in bending our federal budget from what our constituents need into whatever Trump and Musk want.

    “If you don’t think things could get worse—you’re wrong. A clean, yearlong CR is frankly an unacceptable outcome.


    “We cannot tell our constituents, that instead of using our authority to check a President, we give him the keys to the kingdom.

    “We cannot say, instead of fighting to get you the resources you need, we’ll let a billionaire have more say in where your tax dollars go instead.

    “So we need Republicans to get serious about bipartisan funding bills. And we have got to know that once those bills become law, Trump will actually follow them.

    “We cannot just reach an agreement, pass a bill, and then stand by while President Trump rips our laws in half.

    “There is a serious, bipartisan path forward for our country—but it is one where Congress works together to avoid a shutdown, stops the de facto shutdown that is already happening, and reasserts its authority to protect the funding our communities need.

    [REPUBLICANS’ PRO-BILLIONAIRE BUDGET RESOLUTION]

    “But unfortunately, that’s a far cry from the path Republicans are going down with this pro-billionaire, anti-middle-class budget resolution.

    “Let’s be very clear: Republicans’ budget resolution doesn’t just accept, it actually doubles down on what Trump and Musk are doing.

    “And it is not about balancing the budget—we all know that, because they don’t plan to reverse one of the biggest drivers of the debt: Republican tax cuts.

    “Despite all of the boogeymen that Republicans like to point to as driving the national debt—the reality is that the single biggest driver of our national debt since 2001 has been Republican tax cuts.

    “The Trump and Bush tax cuts have cost our nation over $10 trillion dollars and counting. And you’ll never guess what our colleagues on the other side of the aisle are focused on right now—nothing to lower the cost of eggs—it’s actually more Republican tax cuts!

    “And, no, they will not be paid-for. And, yes, they will blow up the national debt.

    “While Elon Musk hacks and chops his way through the government in the name of meager ‘savings’ and Republicans are cheering him on, they are all hoping we will ignore the elephant they brought into the room.

    “Even as this budget is a roadmap for painful cuts to programs families count on each and every day—all so they can give billionaires more tax cuts.

    “Republicans are going down this partisan path because they know Democrats are not going to join them in throwing Medicaid, nutrition assistance, and veterans’ benefits into the wood chipper, so they can throw more tax cuts at billionaires and the biggest corporations.

    “Make no mistake—this budget resolution is the DOGE resolution, as it assumes the staggering amount of $1 trillion in unspecified cuts in 2025 alone and $9 trillion over 10 years.

    “Where do we think those sort of dramatic cuts are going to come from? It’s going to come out of SNAP benefits that keep our kids from going hungry. It is going to come out of public schools and community health centers. It is going to come out of life-saving medical research.

    “It will mean costs going up for everyday Americans. 

    “It means child care costs going up when families lose access to Head Start and other quality, affordable options.

    “It means heating and cooling costs going up when families get cut off from LIHEAP.

    “It means rent going up as assistance programs get slashed.

    “It means your health care costs go up as community health centers and family planning providers are forced to close their doors.

    “It means grocery costs going up as programs like SNAP and WIC are gutted—not to mention what happens when you cut support for farmers, and for ag-research.

    “And make no mistake, if you are cutting that deeply, that painfully, you are going to start cutting things like veterans’ disability and education benefits, you are going to start cutting Medicare and Medicaid—which, for the information of all Senators, 30 million children rely on.

    “There is just no other way to make their numbers work. Especially when we know that this is just step one in their plan—and step two: tax breaks for billionaires and massive corporations.

    “So, first they are handing Elon Musk a chainsaw to cut programs families rely on with no accountability—then they are rewarding him with enormous tax breaks. And that is completely unacceptable.

    “We should not be taking kids out of child care to give billionaires a tax break.


    “We should not be taking food off the family table to put more fuel into private jets.

    “I grew up in a family that knew what it was like to fall on hard times. My dad— who was a veteran—got too sick to work. He had multiple sclerosis.

    “My mom, kept us afloat with Dad’s VA benefits, food stamps, and the new job she got thanks to a federal workforce program.

    “It wasn’t easy. Mom always said they crawled—crawled—to Social Security and Medicare. But she worked hard, and our government was there for them when those hard times came.

    “I know there are families struggling now, just like my family struggled then. I hear from them every day—in the letters we get here in Washington D.C., and in the conversations I have back home in Washington state.

    “They work hard. They play by the rules. They deserve—at the very least—the same opportunity my parents had when I was growing up.

    “And I am not going to stand by silently while Republicans try to sell that opportunity away, to pay for even more tax breaks for billionaires.

    “I get why that sounds like a good idea to billionaires like Donald Trump. I get why it’s a sweet deal for Elon Musk—the richest man in the world. It’s great for them—because they are not the ones footing the bill!

    “The bill for these tax breaks, the cost of these cuts, is going to be paid by folks like my mom and dad.

    “Everyday Americans will pay for billionaire tax breaks with their health care. They will pay for billionaire tax breaks with abandoned medical research. They will pay for billionaire tax breaks with shuttered family farms and small businesses

    “Republicans can try and spin a fairy tale about how this will pay for itself, how this will work out for everyone and nobody cares about what will be affected—but the reality is going to show through pretty darn quick, and pretty darn painfully.

    “Because spin is not going to put food on the table. It will not pay the rent. It won’t fix the roads. It won’t lower prices. It won’t lower interest rates. And it won’t put money in families’ dwindling bank accounts.

    “When it comes to the job we were all sent here to do helping people, and solving problems—families need real solutions, not tax breaks for billionaires and talking points for everyone who loses out.

    “So, M. President, I would urge all of my colleagues: hit the breaks, and not just on this devastating, partisan budget resolution. Hit the brakes on what President Trump and Elon Musk are doing right now.

    “Let’s instead come together, and work on serious, bipartisan bills to fund the government. Let’s get investments that are sorely needed out to the folks we represent. Let’s pass legislation to give folks a hand—instead of this Republican plan that gives billionaires a handout.”

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI Economics: Companies prioritize new departments, roles and teams in hiring strategies, reveals GlobalData

    Source: GlobalData

    Companies prioritize new departments, roles and teams in hiring strategies, reveals GlobalData

    Posted in Business Fundamentals

    Companies across industries are increasingly prioritizing efficiency, product development, and business expansion in their hiring strategies to enhance organizational effectiveness. There is also a focus on improving customer experience, fostering innovation, and driving performance. Meanwhile many organizations are creating new departments, roles, teams, and business units, reveals the  Job Analytics Database of GlobalData, a leading data and analytics company.

    GlobalData’s research reveals that some of the notable companies such as HP, Novo Nordisk, Walmart, Unilever, Takeda Pharmaceutical (Takeda), and The Campbell’s Company are looking to form new teams, departments or set up new roles.

    Sherla Sriprada, Business Fundamentals Analyst at GlobalData, comments: “The key areas of focus include business strategy, omni penetration, go-to-market execution, innovation and collaboration of drug discovery, and strengthening brand partnerships.”

    HP Inc’s HP Solutions (HPS), for instance, is a new global business unit that brings together all commercial solutions organizations across HP under one leader to provide a comprehensive portfolio of services and solutions to enterprise, mid-market, and even – in partnership with strategic channel partners – to the small and midsize business (SMB) segment.

    The Cardio Business Unit is a newly created department at Novo Nordisk Italy to implement cardio business strategy and create a competitive advantage in the market. The Walmart LocalFinds team is a new venture that builds on Walmart’s leading omni-channel platform to revolutionize the local shopping experience, incubating new business lines to expand category penetration for in-demand assortment and enable sellers to grow within the Walmart ecosystem – national including omni penetration.

    Unilever’s newly created “Ice Cream Technology” function will oversee the development, independent design, and implementation of all required technology capabilities to enable Unilever’s ice cream business to become a fully functioning standalone company, separate from Unilever.

    The Gastrointestinal and Inflammation (GI2) Drug Discovery Unit at Takeda is creating a new team researchers to build a portfolio of drugs for a range of inflammatory diseases with high unmet medical.

    The Campbell’s Co’s “Director, North America (NA) Goldfish Strategy” is a newly created role responsible to drive the growth and profit for the Goldfish brand. Furthermore, the role also looks at building the goldfish NA strategy playbook, outlining the optimal way of working to deliver growth and connection efficiently.

    Sriprada concludes: “These developments reflect a shift towards agility and innovation. By aligning with evolving business strategies—centered on customer experience, product development, and market expansion—companies are positioning for efficiency and growth.”

    MIL OSI Economics –

    February 21, 2025
  • MIL-OSI USA: King to Senate Colleagues: “We’ve Got to Wake Up [and] Protect this Institution”

    US Senate News:

    Source: United States Senator for Maine Angus King
    To watch the floor speech click here
    WASHINGTON, D.C.— U.S. Senator Angus King (I-ME) today spoke on the Senate floor to share his growing concerns over the Trump Administration’s largely unconstitutional and unprecedented overreach – sharing the usurpation of Congressional Authority that has now reached the constitutionally-directed ‘power of the purse.’  In the speech, King also shared the detrimental impacts of reckless, indiscriminate government cuts on critical federal functions like management of the national parks and care for our veterans:
    The news is coming so hard and fast these days, that it’s hard to sort it all out. Every day seems to be something new that captures our attention, our concern, our interest. And what I’d like to do today is try to put some of it in perspective and what’s going on in our governing of this country. I don’t believe what I’m going to be talking about today is partisan. It should not be partisan because what I’m really talking about is competent government and constitutional government.  Really two categories — competent government and constitutional government. That should not be a controversial issue. Neither of those are something that we should be arguing about. It’s what we have a responsibility to carry through in terms of our jobs here in the U.S. Senate. So the two categories I want to talk about — my headings are thoughtless and dangerous. 
    First I want to talk about thoughtless. The hiring freeze. A hiring freeze can be an effective tool if it’s used thoughtfully and systematically. But to do it across the board without a process for exceptions that’s built into it, you end up with all kinds of unintended and negative consequences. Firefighters, parks, losses elsewhere by attrition. There should be a systematic exemption process. Now it’s haphazard and random. Park seasonal employees first were under the hiring freeze, now they’re not. It’s sort of like, oh, oh, or, we’re going to be okay without park seasonal employees. VA frontline health workers were at first subject to the hiring freeze then people said, oh, no, we didn’t mean doctors and nurses, so that’s okay. You can hire them. My point is it’s not a rational process. It’s ready, fire, aim. Literally, ready, fire, aim is what we’re talking about and people aren’t doing this in a thoughtful and systematic way. And, by the way, the difference between frontline deliverers of care at the V.A. and the people who answer the phone who are categorized as bureaucrats, I don’t think there’s a stark difference there. If you’re a veteran and are seeking care and an appointment at a V.A. health facility and nobody answers the phone, that’s a denial of benefits. That’s a denial of benefits, just as if they close the door in your face. That’s what we’re talking about, is weakening the systems that are serving our public. 
    The hiring freeze, it’s possible to do a hiring freeze. When I was governor of Maine, I instituted a hiring freeze, but we did it in a systematic and thoughtful way. We had a process for dealing with exemptions and without destroying the morale and throwing the entire operation of government into chaos. And, by the way, why do we have the government? To serve the people. To serve the people. 
    So let’s talk about the next step: the firings. The famous fork in the road letter is a perfect example of a thoughtless way to approach a problem. The letter went to everybody. The letter wasn’t selective. It went to everybody — all civilians in the CIA, in the National Security Agency, in the Defense Department. Also, of course, all the other civilian agencies. But it wasn’t targeted in a way. If you want to leave federal service, we’ll pay you through September, but it hit everybody. Again, it’s not a rational or thoughtful way to trim the federal workforce. You should be talking about where are we do we have too many people, do we have overstock in terms of public servants and where do we need more, for example. But instead it went to everybody. By definition, that’s not a rational process. Firing — let me just put this in perspective, by the way. On the fork in the road letter, the estimate is as of today 75,000 people have taken that option and left. And I suppose the people who are behind this think that’s a great victory. The dollars saved from those 75,000 people represent one tenth of one percent of the federal budget. So people out who are seeing, we’re cutting the budget, we’re cutting, we’re saving, we’re saving the taxpayers money. One tenth of one percent. Given the chaos and the uncertainty and the deletion of services to our American people, I would argue that’s not worth it. One tenth of one percent. Everyone got these letters. People are being fired now in the CIA, FBI, the V.A., and on this letter, what if only the best people take the option to leave? Then you’ve really shot yourself in the foot. You’ve encouraged people who were going to retire anyway or who could get a better job in the private sector. So it’s an anti-intelligent way to handle this. 
    And then you got situations like at the Department of Energy, the first weekend they fired 350 people in the National Nuclear Security Administration, the people who handle nuclear materials and are responsible for our nuclear stockpile. They fired I think it was something like 20% of the personnel. Three or four days later, they realized, uh oh that was a mistake. A good, solid, thoughtful process wouldn’t have made a mistake like that. They would have realized from the outset that these are jobs that we aren’t going to be firing, we aren’t going to be eliminating. It seemed to be based on some kind of quota. I don’t know what it is. And then — okay, now we’re seeing everybody being fired who’s on probation. Probationary people, people who work for the government for less than a year or two. Okay, again that’s arbitrary — that’s arbitrary. Being on probation doesn’t mean you’re an effective or not an effective employee. You could be one of the best employees in the whole federal government and you just came on and yet you’re going to be fired. It has nothing to do with the productivity or skill of the worker. It has nothing to do with the importance of the position. It has nothing to do with the effectiveness of the agency in question, serving the people of Maine. If you’re probationary, you’re gone. Here’s another thing about probation. It turns out in the federal government, if you’re promoted, you’re on probation in the new position. You may have worked in the department for five or ten years. You’re on probation. You’re fired. Even though you have five or ten years of experience. And people did get these ridiculous letters saying your performance has not been adequate. There was no basis for those letters. It was arbitrary. And that’s remember I said my categories are thoughtless and dangerous. This is thoughtless — probation. 
    Oh, by the way, about 30% of the federal workforce are veterans. Now, we don’t know the exact figures. That’s one of the problems. We have no transparency about what’s going on here and who’s actually being let go and who isn’t, but a reasonable extrapolation is, 30% of the people being fired are veterans. People who put their lives on the line for this country. And then they went into public service and they’re being fired. That’s outrageous. Again, was no one thinking about this? A thousand people were fired at the V.A. Just a couple of days ago. We learned that people supporting the V.A. crisis line were fired. What genius thought that was a good idea? Last Friday, immigration judges were fired. We’re talking about immigration and border and control of immigration, and we’re firing immigration judges? What possible sense does that make? Here’s one. We’ve had — I think three curious aircraft incidents in the last month, and they just fired I think 300 people at the FAA. Great, including people who are in the business of maintaining the systems that keep our airplanes safe. In the wake of three serious airplane crashes, including one here in Washington that killed 67 people, we’re firing people at the FAA? Give me a break! What kind of sense does that make? What kind of service is that to the people of the United States? Here’s one that’s not life or death, but the National Park Service. 1,000 people were fired last weekend at the National Park Service. I suspect they were probationary, that means okay they’d only been there a year or to. But that doesn’t mean they weren’t in jobs that were important. The headline in this morning’s paper, chaos at the national parks. The lines are twice as long. If there’s chaos at the national parks in February, lord knows what it’s going to be in June or July. In Yosemite, in Acadia in my state of Maine. And here’s a beauty, some of these people that are be fired are people who collect fees at the park. So to save a buck, we’re going to lose $5 from fees not being collected. Genius. Come on. Five percent of the workforce at the national park service are being fired, and I can tell you, I’m the co-chair of the National Park Subcommittee, the Energy & Natural Resources Committee, we need more people at the national parks, not less. We’ve had a staffing shortage going back half a dozen or ten years where visitation is way up and staff is flat or declining. Now it’s really declining. And this is a direct hands-on experience for the American people. Gettysburg — they’ve been laying off people at the battlefield. Last night apparently something called the Presidential Management Fellowship Program, a training program that’s decades’ old that brings talented people into the federal government, eliminated. No explanation, no rational. Eliminated. 
    Okay, that’s the thoughtless part. Let me give you a little personal experience. When I was elected governor of Maine, we had a serious deficit. We were in the middle of a recession. We went through a process very similar to the impetus for what’s going on now. We looked at the entire workforce of the state of Maine. But we did it in a thoughtful and transparent way. We developed a task force that included private citizens, legislators, and members of the administration, and we took eight months, Mr. President, eight months, not eight weeks, and we looked at the entire structure of the state of Maine government and reduced our workforce by about 10%, a significant reduction. But we did it in a thoughtful way and in a way that made sense in terms of the ongoing service to the people of Maine. 
    So it can be done, and I’m not unsympathetic with the idea of making things more efficient. And even possibly downsizing the government where it’s called for and where additional people aren’t necessary. So, I’m not here to say we shouldn’t be looking for efficiency and saying everything in the federal government is perfect. I don’t believe that for a minute. But I think if we’re going to take on this exercise, it ought to be done in a sensible way by people who know what they’re doing. 
    And that brings me to DOGE. I don’t know what they’re doing. Nobody does. I don’t know who these 25-year-olds in the IRS, rummaging around in the IRS I.T. System. We learned the last couple days Social Security. What are they doing? Who are they? What are their qualifications? Do they have security clearances? Do they have conflicts of interest? All of the rules designed to protect us from people making arbitrary decisions that aren’t accountable, you talk about bureaucrats being unaccountable, these are the ultimate unaccountable people. We don’t know what their relationship is to the federal government, what authority they have, up what law they’re operating. It’s clear from mistakes like firing 350 people at the Nuclear Security Agency, they don’t know what they’re doing. They’re firing people who we need. Okay, that’s the thoughtless part. It’s inexcusable. That’s just pure efficiency of government of doing the right thing, and it can be done, but these people aren’t doing it. 
    The second part of what’s going on is the dangerous part, and this is where I call on my colleagues on the other side of the aisle who are standing by and watching our government be attacked with no response. Elimination of entire congressionally created agencies. USAID was established by statute and over a weekend these people fired everybody, closed the agency, took the name off the door, and threw the rest of the world into chaos, where these people were working on important projects all over the world, that were part of our outreach to the world. You know what? As soon as we went out of business at A.I.D., China is right in the market. It’s like walking away from engagement with the world. It couldn’t be a more self-defeating piece of work. By the way, it’s a tiny part of the federal budget. And James Mattis famously said, when he was a general, if you cut the foreign aid budget, you’re going to have to buy me more bullets. Foreign aid is part of the national security of this country, and to demolish this agency without any input from congress, without any relationship to the Foreign Affairs Committee or anybody else up here in the congress, is grossly unconstitutional. It’s grossly unconstitutional. 
    Here’s the problem, Mr. President, this isn’t just a battle between the Senate and the House and the President and they’re fighting about powers. No, the reason the framers designed our Constitution the way they did was that they were afraid of concentrated power. They had just fought a brutal eight-year war with a king. They didn’t want a king. They wanted a constitutional republic, where power was divided between the Congress and the President and the courts, and we are collapsing that structure. And the structure wasn’t there for fun. It wasn’t, hey, we’ll design this complicated system. It was there to protect our freedom. Because the people that wrote our Constitution understood human nature, and they understood a very important thousand-year-old principle — power corrupts, and absolute power corrupts absolutely.
    The whole idea was to divide power, and to the extent we allow this assault on our Constitution, this collapsing and excessive power being granted to the executive to ignore the laws passed by congress, and by the way, appropriations bills are laws passed by congress, which the administration is also ignoring by freezing funding for programs authorized and funded by congress, to the extent we do that, we’re not only making a mistake now, but we’re altering the essential structure of our Constitution that’s there for a reason, that’s there to protect our freedom. And the people cheering this on I fear, in a reasonably short period of time, are going to say where did this go? How did this happen? How did we make our president into a monarch? How did this happen? How it happened is we gave it up! James Madison thought we would fight for our power, but no. Right now, we’re just sitting back and watching it happen. Article 2 of the Constitution, the President said, oh, article 2 gives me a lot of power. No, it doesn’t. It makes the president commander in chief. That’s true. Here’s the key sentence in Article 2 of the constitution, which defines the president’s power, the key sentence is not the power of the president, the responsibility of the president is to take care that the laws being faithfully executed. Not write the laws. Not deny the laws. Not ignore the laws. Not pick which laws he or she To take care that the laws are faithfully executed. That’s the responsibility of the President. 
    Right now, those laws are being ignored. Impoundment. Impoundment. The President trying to say Congress appropriated this money through appropriation bill signed by president, but I’m not going to spend it because I don’t like it, I don’t like that purpose, whatever it is. I’m sorry. It’s absolutely straight up unconstitutional, and it’s illegal. President Nixon tried to do that in 1973, and the Congress, virtually unanimously, passed the impoundment control act which said no, presidents can’t do that. They can’t ignore the will of congress because Article 1 of the Constitution gives the congress the power of the purse. We’re giving it away this week. We’re standing by and watching it, watching the essential power of this body evaporate. Not evaporate, migrate down the street to 1600 Pennsylvania Avenue. 
    The power was divided for a reason. There’s criticism in the press saying people are talking about a constitutional crisis, they’re crying wolf. This is a constitutional crisis. It’s the most serious assault on our Constitution in the history of this country. It’s the most serious assault on the very structure of our Constitution, which is designed to protect our freedoms and liberty, in the history of this country. It is a constitutional crisis, and I’ll tell you what makes it worse, the President and the Vice President are already hinting that they’re not going to obey decisions of the courts. Many of my friends in this body say it will be hard, we don’t want to buck the President, we’ll let the courts take care of it. Number one, that’s a copout. It’s our responsibility to protect the Constitution. That’s what we swear to when we enter this body. To stand back and say we’re going to watch all this happen, and the courts will take care of it, that’s an abdication of our responsibility. 
    If you look at history, yes, it’s true, presidents have gained power. In my reading of history usually it wasn’t because presidents usurped power, but the congress abdicated it. We haven’t declared war, for example, since 1942, yet that’s a clear responsibility of congress and we sure have been in some scrapes since 1942. We’ve abdicated that power, and we’re now in the process of abdicating the power to control the appropriations process. I mention about DOGE, no authority, no accountability, no transparency, we literally don’t know what they’re doing, we can’t find out what they’re doing. Just this week, the destruction of the independent agencies, created by congress. They were created as independent agencies for a reason, because they didn’t want them to be dominated by the vicissitudes of politics. The president gets to appoint members of the board, and they’re very carefully balanced, not firing someone at the National Labor Relations Board so there’s no quorum so they can’t act. That’s a direct violation of congressionally established policy. These independent agencies were created for a reason. Again, oh, I forgot to mention, illegal firing of inspector generals. The Senator from Iowa is a champion of inspector generals. In the first few days, something like 18 inspector generals were fired, completely contrary to the law. The law is the congress must be given 30 days’ notice of the firing of an inspector general, and reasons therefore. Not done! Not a peep. 
    What’s it going to take for us to wake up, when I say us, I mean this entire body, to wake up to what’s going on here? Is it going to be too late? Is it going to be when the President has secreted all this power and the congress is an afterthought? What’s it going to take? The offenses keep piling up. As I said, leaving it to the courts, number one, is a copout, and number two, when the Vice President said something, I can’t remember exactly what he said, but ‘the courts should not have the power to do this.’ Of course, the President over the weekend famously quoted Napoleon, ‘when you’re saving your country, you don’t have to obey any law.’ Wow, a President of the United States quoting Napoleon about not having to obey the law. 
    So, I intended to talk about Ukraine, but Senator Tillis and Senator Shaheen did it so articulately, I think I’ll let that pass, except to say it’s shameful we’ve suddenly pivoted from the support of a democracy that was grossly and illegally invaded, from the support of that country to the support of a murderous dictator. I heard something about Zelenskyy is a dictator. The only dictator in this game, Mr. President, is Vladimir Putin. He’s the dictator. To argue that somehow Ukraine started the war? What universe is that — is somebody in that would say something like that? Again, I won’t pursue, but I can tell you Putin’s happy, XI Jinping is happy, Iran is happy, North Korea is happy. They love what’s going on, to see us retreating from the world, whether it’s A.I.D. or Ukraine. They love to see us retreating from the world, looking weak and looking unreliable. 
    Finally, on this point, we seem to be systematically alienating our allies. I’ve been on Armed Services for 12 years and have learned that the key asymmetric advantage this country has in the world is allies. China has customers. We have allies. Well, we’re giving that away. If I wasn’t on the floor of the U.S. Senate, I’d use a slightly different term, but we’re giving away our asymmetric advantage in the world by what looks like systematically alienating allies, whether it’s threats of tariffs or speeches in Europe telling them what their problems are, basically saying we’re going to abandon Europe. What a great idea, abandon Europe at a time there’s a murderous dictator with his eyes on the Baltics, Poland, and said he would like to reestablish the Soviet Empire. The worst possible geopolitical thing we could do would be to abandon Ukraine.
    So, Mr. President, this is a constitutional crisis, and we’ve got to respond to it. I’m just waiting for this whole body to stand up and say no, no, we don’t do it this way. We don’t do it this way. We do things constitutionally. Yes, it’s more cumbersome, it’s slower, that’s what the framers intended. They didn’t intend to have an efficient dictatorship, and that’s what we’re headed for. Mr. President, this is a very dangerous moment. We’ve got to wake up, protect this institution, but much more importantly protect the people of the United States of America. Thank you, Mr. President. 

    MIL OSI USA News –

    February 21, 2025
  • MIL-Evening Report: The promise of green iron, steel and ammonia is keeping the green hydrogen dream alive

    Source: The Conversation (Au and NZ) – By Changlong Wang, Research fellow in Civil and Environmental Engineering, Monash University

    D.Alimkin, Shutterstock

    Hydrogen was once sold as a universal climate fix — a clean, green wonder fuel for cars, homes, power grids and even global export. But reality has cooled that buzz.

    This week, the South Australian government shelved plans for a A$593 million hydrogen power plant, in favour of injecting that money into the $2.4 billion Whyalla steelworks rescue package. Premier Peter Malinauskas said there was “no point in producing hydrogen” without a customer: the steelworks.

    It’s the latest in a series of setbacks for hydrogen. Last year, Australian mining and energy giant Fortescue pared back its green hydrogen projects as a result of increasing costs and changing financial circumstances in the United States.

    Then, gas and oil heavyweight Woodside withdrew plans for two large-scale green hydrogen projects and Origin Energy dropped out of the Hunter Valley Hydrogen Hub.

    Meanwhile, the Hydrogen Energy Supply Chain project in Victoria, meant to ship hydrogen to Japan, has met with delays and overruns. Earlier this month, the new Queensland government chose to halt further investment in the Central Queensland Hydrogen Project, putting plans to export hydrogen in doubt.

    These setbacks show hydrogen isn’t the ultimate solution to all our energy needs, especially if we want to export it. But they don’t spell doom. Instead, they nudge us toward where hydrogen really shines: in heavy industry, right where it’s made.

    Heavy industry: where hydrogen makes sense

    Heavy industries such as steel manufacturing and ammonia production are where hydrogen proves its worth. These sectors are significant contributors to climate change — steel accounts for about 8% of global greenhouse gas emissions, ammonia a further 2%.

    Most emissions from steelmaking come from burning coal in blast furnaces to convert ore into iron and carbon dioxide.

    In a cleaner alternative, hydrogen (when produced using renewable energy) can be used to strip oxygen from the ore and make iron, with water as a byproduct. The result is green iron, ready to be turned into steel in an electric arc furnace – with a fraction of the emissions.

    Ammonia is used to make fertiliser and industrial chemicals, and hydrogen is one of the main ingredients in its production. Hydrogen bonds with nitrogen from the air to form ammonia. No hydrogen, no ammonia — it’s that simple. Conventional ammonia plants get hydrogen from methane, producing CO₂ in the process. Green ammonia uses renewable energy to produce hydrogen by splitting water via electrolysis.

    Our recent research crunched the numbers on producing these new green commodities. We found making green iron in Australia with hydrogen and shipping it to Europe for steel production could be 21% cheaper than exporting raw iron ore and hydrogen separately. Plus, it could cut emissions by up to 95% compared to traditional methods.

    There are huge economic opportunities for Australia too. Instead of shipping low-value raw materials, Australia could export ready-to-use green iron or green steel, reshaping global supply chains while cutting costs and carbon. That’s the kind of rethink hydrogen enables.

    Industry hubs: a practical fix

    Transporting hydrogen long distances is costly and inefficient. The fix? Industry hubs that produce hydrogen right where it’s needed — next to steel mills, ammonia plants, desalination plants, water treatment plants or even aluminium smelters. Putting producers and consumers together slashes transport costs and unlocks efficiencies.

    We’ve built tools to pinpoint places with the greatest potential to produce these new green commodities.

    The Hydrogen Economic Fairways Tool maps where renewable energy, infrastructure and industrial sites align for cost-effective hydrogen production.

    The Green Steel Economic Fairways Mapper zooms in on prime locations for green steel, spotlighting places such as Eyre Peninsula in SA and the Pilbara in Western Australia, among others (see below). These locations have abundant wind and solar resources alongside an existing industrial base.

    The Green Steel Economic Fairways Mapper compares the levelised cost of steel, including production and transport to the port. a) Regional changes across Australia b) Example of how to optimise the system to minimise the levelised cost of producing 1 million tonnes per annum c) Breakdown of costs d) Hourly system performance, in terms of energy flows.
    Green Steel Economic Fairways Mapper, Geoscience Australia

    Challenges remain

    Green hydrogen promises to revolutionise heavy industries, but significant hurdles stand in the way of widespread domestic adoption. The biggest challenge comes from the unpredictable nature of renewable energy, which makes it hard to maintain the steady hydrogen supply industries need.

    The costs remain steep, too. Splitting water into hydrogen using renewable electricity isn’t cheap, particularly when you need backup storage systems to keep production going during cloudy or windless periods.

    Getting hydrogen where it needs to go poses another major challenge. As hydrogen is both bulky to transport and highly flammable, it requires special handling and infrastructure, driving up costs, especially for facilities far from production sites.

    Many companies also hesitate to invest in hydrogen-compatible equipment, as retrofitting existing plants or building new ones requires substantial upfront costs without guaranteed returns.

    The $2.4 billion rescue package for the Whyalla Steelworks (ABC News)

    Government backing: a push in the right direction

    Thursday’s announcement of A$2.4 billion investment in the Whyalla steelworks along with plans for a $1 billion green iron investment fund are a bold bet on green steel. Furthermore, the landmark Future Made in Australia legislation introduces a $6.7 billion Hydrogen Production Tax Incentive, offering $2 per kilogram of renewable hydrogen produced between 2027–28 and 2039–40, alongside a 10% tax credit for critical minerals processing.

    Meanwhile tax credits for green aluminium and alumina should help another heavy industry to navigate the energy transition using clean hydrogen.

    These measures aim to unlock tens of billions in private investment, boost regional economies, and position Australia as a leader in clean energy manufacturing. This isn’t just about one-off projects. It’s laying the groundwork for hubs that link renewable energy and hydrogen production to industrial demand.

    There’s more in the pipeline. The Hydrogen Headstart program pumps funds into hydrogen innovation, and the Future Made in Australia initiative backs clean industry with billions more. Add in policies like carbon pricing or low-interest loans, and the economics tilt even further toward green steel and ammonia. Government buying power — in the form of procurement targets for low-carbon materials — could seal the deal by guaranteeing demand.

    These policies aren’t just wishful thinking — they’re practical steps that are already working elsewhere. Sweden’s HYBRIT project, which paired green steel with government-backed demand, has already led to construction starting on new industrial-scale green steel facilities. At the same time, the European Union’s hydrogen strategy leans on carbon pricing and subsidies to guide industries and suppliers through the energy transition, while Japan offers incentives for the use of green steel in their automotive industry.

    Australia has the renewable energy and the industrial base to take advantage of these opportunities. With the right leadership, we can turn hydrogen’s stumbles into a global triumph for heavy industry.

    Changlong receives funding from the South Australian Department for Energy and Mining to conduct the SA Green Iron Study, and from Geoscience Australia under the Exploring for the Future program to develop the Hydrogen and Green Steel Economic Fairways tool. Changlong is affiliated with Melbourne Climate Futures, University of Melbourne, and is a visiting fellow at Engineering Science, Oxford University, UK.

    Stuart Walsh receives funding from Geoscience Australia supporting the development of the Bluecap software suite, which highlights opportunities for new renewable energy and critical mineral projects in Australia. Stuart received funding from the South Australian Department for Energy and Mining to conduct the SA Green Iron Study and from Geoscience Australia under the Exploring for the Future program to develop the Hydrogen and Green Steel Economic Fairways tool.

    – ref. The promise of green iron, steel and ammonia is keeping the green hydrogen dream alive – https://theconversation.com/the-promise-of-green-iron-steel-and-ammonia-is-keeping-the-green-hydrogen-dream-alive-250410

    MIL OSI Analysis – EveningReport.nz –

    February 21, 2025
  • MIL-OSI USA: Volcano Watch — What happens beneath the surface doesn’t always stay beneath the surface

    Source: US Geological Survey

    Volcano Watch is a weekly article and activity update written by U.S. Geological Survey Hawaiian Volcano Observatory scientists and affiliates.

    Ground tilt and eruptive episodes associated with Kīlauea summit eruption December 23, 2024, until February 20, 2025. The ten eruptive episodes in Halemaʻumaʻu are highlighted in red. 

    Ten lava fountaining episodes have taken place in Halemaʻumaʻu since December 23, 2024, from two vents: the north vent and the south vent. Most fountaining episodes have been active for less than a day (16 hours on average), though a couple were longer duration (up to 8 days). 

    HVO staff rely on several key monitoring datasets to track the status of Kīlauea using a network of instruments across the volcano. A variety of seismoacoustic instruments record earthquakes and other ground vibrations, as well as low-frequency sound. Gas sensors sniff the volcanic gas emissions in areas downwind. Webcams, including the livestream camera, provide near real-time visual and thermal views. Ground deformation is documented using GPS units and tiltmeters. Together, these datasets can be used by scientists to analyze the processes occurring within Kīlauea.

    In between each lava fountaining episode, monitoring datasets, like tilt, seismicity, and gas emissions, have shown similar behaviors. This repeating nature of activity has allowed HVO scientists to identify patterns that can be used to estimate windows of probability for future eruptive episodes in Halemaʻumaʻu. 

    When lava fountains are erupting in Halemaʻumaʻu, ground deformation instruments—tiltmeters, in particular—show deflation as magma that was stored in the volcano is erupted on the surface. In between lava fountaining episodes, those sensors show inflation as magma again accumulates beneath the surface and repressurizes the magma chambers. The amount of repressurization required for a new episode to start has ranged from 2–10 microradians, taking anywhere from a day to nearly two weeks. This range of repressurization is what informs HVO’s probability estimates for when a new episode most likely will begin. The rate of inflation can vary, though, which causes the probability window for the start of the next episode to be shifted in time. 

    While deformation shows us how magma is behaving underground between episodes, we also have data telling us that surface activity continues even while fountaining is paused. During episodes of lava fountaining, the rumblings of magma making its way out of the conduit produce an intense tremor signal seen on seismic stations across Kīlauea. The tremor rumbles at lower frequencies, caused by rapid expansion and contraction of magma within the vents.  These continuous vibrations result from the formation and release of gas bubbles that drive the fountains high into the air. 

    Yet even between eruptive episodes, tremor has remained present. The intensity drops significantly between episodes but continues to exist until the next episode. This indicates that gas is continuing to be released by the vents and magma continues to stir near surface even when lava is not visibly erupting. As the weak tremor churns in the background, other seismic signals are also observable. Low frequency signals that range in size are seen on the seismic network around the summit area and suggest complex patterns of magma migration, bubble formation, and transport within the volcano. 

    The observation of continuing tremor between episodes is corroborated by volcanic gas measurements and persisting glow at the vents. When an episode of lava fountaining is occurring, sulfur dioxide (SO2) emission rates are highly elevated, in the range of 10,000 tonnes per day (t/d). Even when lava is not actively fountaining, SO2 emission rates have remained moderately elevated, in the range of 1,000 t/d. If Kīlauea were truly quiet, we would expect only about 100 t/d of SO2. Likewise, in between eruptive episodes, glow remains visible at night at the north, and sometimes south, vent. This incandescence is another clue that magma is just beneath the surface, continuing to gurgle, glow, and degas. 

    New episodes of lava fountaining have been brief and impressive, but the build up to them is an exciting glimpse into how Kīlauea volcano works. If you happen to visit Kīlauea in between Halemaʻumaʻu lava fountaining episodes, know that the degassing and glow are evidence of the continuous activity that is happening, hidden just beneath the surface. 

    Volcano Activity Updates

    Kīlauea has been erupting intermittently within the summit caldera since December 23, 2024. Its USGS Volcano Alert level is WATCH.

    The summit eruption at Kīlauea volcano that began in Halemaʻumaʻu crater on December 23 continued over the past week, with one eruptive episode. Episode 10 was active from the night of February 19 until the morning of February 20. Kīlauea summit has been inflating since episode 10 ended, suggesting that another eruptive episode is possible. Sulfur dioxide emission rates are elevated in the summit region during active eruption episodes. No unusual activity has been noted along Kīlauea’s East Rift Zone or Southwest Rift Zone. 

    Mauna Loa is not erupting. Its USGS Volcano Alert Level is at NORMAL.

    Three earthquakes were reported felt in the Hawaiian Islands during the past week: a M3.5 earthquake 15 km (9 mi) ESE of Nāʻālehu at 36 km (22 mi) depth on Feb. 18 at 6:10 p.m. HST, a M3.8 earthquake 18 km (11 mi) ESE of Nāʻālehu at 34 km (21 mi) depth on Feb. 14 at 5:04 a.m. HST, and a M3.1 earthquake 8 km (4 mi) S of Kapaʻau at 23 km (14 mi) depth on Feb. 13 at 6:31 a.m. HST.

    HVO continues to closely monitor Kīlauea and Mauna Loa.

    Please visit HVO’s website for past Volcano Watch articles, Kīlauea and Mauna Loa updates, volcano photos, maps, recent earthquake information, and more. Email questions to askHVO@usgs.gov.

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Welch Amendments to GOP’s Budget Would Lower Costs for Families, Protect Health Care, Combat DOGE, Safeguard Federal Resources 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    Welch filed more than 70 amendments to the budget resolution 
    WASHINGTON, D.C.—U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee and Ranking Member of the Agriculture Committee’s Subcommittee on Rural Development, Energy, and Credit, filed amendments to Senate Republicans’ budget resolution which, as proposed, will cut millions in federal funds for working families to give tax cuts to the richest Americans. 
    Senator Welch’s amendments to the Republican budget resolution focus on lowering costs for Vermonters, protecting access to health care, supporting rural care providers, combatting President Trump’s lawlessness and Elon Musk’s DOGE, and defending federal programs and disaster recovery resources Vermont communities rely on. 
    “President Trump and Congressional Republicans are busy trying to pass a massive tax cut for their billionaire friends at the expense of hardworking families, while Democrats are working to lower costs and protect the programs and services Americans depend on. The contrast couldn’t be more clear,” said Sen. Peter Welch. “It’s an absolute disgrace that Republicans are proposing to cut Medicaid funding, kick people off their health care, and are targeting the nutrition programs families need—all to pay for their tax cut.” 
    Senator Welch added: “This will be my first ‘vote-a-rama’ in the Senate, and I can already say this is the image of dysfunctional legislating. We need to return to regular order, respect the regular process, and recommit to finding common ground.”  
    Senate Republicans’ proposed budget blueprint will slash Medicaid and increase health care costs for millions of seniors, children, veterans, people with disabilities, and people with chronic diseases in order to give tax handouts to the ultra-wealthy. Their budget will cut funding for education, scientific research, nutrition programs, and more. 
    Senator Welch filed more than 70 amendments to the budget resolution, including amendments to:  
    Lower Costs for Working Families:   
    Senator Welch filed an amendment to block legislation that reduces or eliminates essential programs like Head Start, child care funding, and Meals on Wheels, which support families, children, and communities. 
    Senator Welch filed amendments to prohibit tax increases for households making less than $200,000 in taxable income and stop any legislation that will increase childhood poverty. 
    Senator Welch filed amendments to prohibit cuts to the Low-Income Home Energy Assistance Program, the Weatherization Assistance Program, and to improve rural access to nutrition programs. 
    Senator Welch filed amendments to protect rural broadband deployment and promote internet affordability.  
    Senator Welch filed an amendment to block tariffs on energy imports, which would raise costs for consumers.   
    Senator Welch filed amendments to ban the budget from increasing costs for American consumers by repealing investments in renewable energy and energy efficiency.  
    Protect Access to Affordable Health Care and Prescription Drugs:  
    Senator Welch filed amendments to prohibit the reduction or elimination of funding for rural care providers, health centers, and critical access hospitals.   
    Senator Welch filed an amendment to prohibit raising the cost of prescription drugs for seniors.  
    Senator Welch filed amendments to prohibit funding for criminal investigations, prosecutions, and surveillance of women’s reproductive health decisions, including abortion and IVF, and health care providers who provide emergency medical abortions.  
    Senator Welch filed an amendment to prohibit cuts to programs that support substance use disorder treatment and prevention.  
    Defend Federal Programs and Disaster Recovery Resources for Rural America:  
    Senator Welch filed amendments to block the budget resolution from making cuts to critical agriculture programs and ensure communities have the necessary resources for disaster response, recovery and resilience. 
    Senator Welch filed an amendment to ensure USDA’s Rural Development, Farm Service Agency, and Natural Resources Conversation Service State offices operate at full capacity.  
    Senator Welch filed an amendment to support federal dairy programs and improve the resilience of U.S. food systems.  
    Senator Welch filed an amendment that protects Congress’ constitutionally-granted power of the purse and end the Trump Administration’s illegal federal funding freeze. 
    Combat the Influence of President Trump’s Lawlessness and Elon Musk’s DOGE:  
    Senator Welch filed an amendment to prohibit the government from entering into contracts with DOGE-associated officials.  
    Senator Welch filed an amendment to require the staff and activities of the so-called “Department on Government Efficiency” (DOGE) are vetted, have proper oversight, and access to government information is restricted to those with the appropriate security clearances.    
    Senator Welch filed an amendment to require federal agencies to fully comply with all lawfully issued court orders.  

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI China: China completes drilling of Asia’s deepest vertical well

    Source: People’s Republic of China – State Council News

    Staff members pose for a group photo as they celebrate the completion of the drilling of “Shenditake 1,” an ultra-deep borehole reaching 10,910 meters, in the hinterland of the Taklimakan Desert in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region, Feb. 20, 2025. [Photo/Xinhua]

    BEIJING, Feb. 20 — China National Petroleum Corporation announced Thursday that it has completed the drilling of the deepest vertical well in Asia, as a borehole reached a depth of 10,910 meters in China’s northwestern desert.

    An aerial drone photo taken on Feb. 19, 2025 shows a view of the “Shenditake 1,” an ultra-deep borehole, in the hinterland of the Taklimakan Desert in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region. [Photo/Xinhua]
    An aerial drone photo taken on Feb. 20, 2025 shows a view of the “Shenditake 1,” an ultra-deep borehole, in the hinterland of the Taklimakan Desert in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region. [Photo/Xinhua]
    This undated picture provided by the Tarim Oilfield shows the microscopic image of a rock slice obtained at a depth of 10,000 meters underground. [Photo/Xinhua]
    An aerial drone photo taken on Feb. 20, 2025 shows a view of the “Shenditake 1,” an ultra-deep borehole, in the hinterland of the Taklimakan Desert in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region. [Photo/Xinhua]
    An aerial drone photo taken on Feb. 18, 2025 shows a view of the “Shenditake 1,” an ultra-deep borehole, at sunset in the hinterland of the Taklimakan Desert in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region. [Photo/Xinhua]
    An aerial drone photo taken on Feb. 20, 2025 shows a view of the “Shenditake 1,” an ultra-deep borehole, in the hinterland of the Taklimakan Desert in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region. [Photo/Xinhua]
    Staff members pose for a group photo as they celebrate the completion of the drilling of “Shenditake 1,” an ultra-deep borehole reaching 10,910 meters, in the hinterland of the Taklimakan Desert in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region, Feb. 20, 2025. [Photo/Xinhua]
    A staff member checks the casing pipes at the drilling site of “Shenditake 1,” an ultra-deep borehole, in the hinterland of the Taklimakan Desert in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region, Feb. 20, 2025. [Photo/Xinhua]
    Staff members work at “Shenditake 1,” an ultra-deep borehole, in the hinterland of the Taklimakan Desert in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region, Feb. 19, 2025. [Photo/Xinhua]
    This photo taken on Feb. 19, 2025 shows a view of “Shenditake 1,” an ultra-deep borehole, in the hinterland of the Taklimakan Desert in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region, Feb. 19, 2025. [Photo/Xinhua]
    Yin Da, a senior expert of the Tarim Oilfield, shows the ultra-high-temperature drilling fluid used in the drilling of “Shenditake 1,” an ultra-deep borehole, in the hinterland of the Taklimakan Desert in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region, Feb. 19, 2025. [Photo/Xinhua]
    Staff members check the operation status of the drilling equipment via a remote platform in downtown Korla, northwest China’s Xinjiang Uygur Autonomous Region, Feb. 18, 2025. [Photo/Xinhua]
    A staff member works at “Shenditake 1,” an ultra-deep borehole, in the hinterland of the Taklimakan Desert in the Tarim Basin, northwest China’s Xinjiang Uygur Autonomous Region, Feb. 19, 2025. [Photo/Xinhua]
    This undated picture provided by the Tarim Oilfield shows the microscopic image of a rock slice obtained at a depth of 10,000 meters underground. [Photo/Xinhua]

    MIL OSI China News –

    February 21, 2025
  • MIL-OSI: Peyto Delivers Record Reserves Results in 2024

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, Feb. 20, 2025 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (TSX: PEY) (“Peyto” or the “Company”) is pleased to present the results and in-depth analysis of its independent reserve report effective December 31, 2024. The evaluation encompassed 100% of Peyto’s reserves and was conducted by GLJ Ltd. (“GLJ”). The year 2024 marks the Company’s 26th year of successful reserves development.

    Peyto’s 2024 capital program marks the first full year of drilling high-quality inventory acquired in the Repsol Canada Limited Partnership transaction. Combined with drilling of high-graded locations on Peyto’s legacy assets, the Company delivered several new reserves records in 2024.

    2024 HIGHLIGHTS

    • The Company’s 2024 drilling program developed a record 457 BCFe1 (76.2 MMboe2) of new Proved Developed Producing (“PDP”) reserves at a Finding, Development and Acquisition (“FD&A”3) cost of $1.00/Mcfe ($6.01/boe). The Company’s continuous focus on finding and developing reserves at low costs has generated a five-year average PDP FD&A of $1.13/Mcfe.
    • The Peyto team delivered record production in December of 2024 of 136 Mboe/d (721 MMcf/d gas, 15,708 bbl/d NGLs), generating an exit rate capital efficiency4 of $9,700/boe/d, one of the best in Company history.
    • The Company’s systematic hedging program and market diversification strategy, along with Peyto’s low operating cost structure, were able to deliver an average field netback5 of $3.26/Mcfe ($19.59/boe). This resulted in a 3.3 times recycle ratio6 (2.1 times on an unhedged basis), the highest on record over the last 20 years, despite the lowest annual AECO natural gas price during the same period.     
    • The 2024 drilling program produced a record average PDP reserves-per-well booking in the Company’s history at 6.0 Bcfe, up from 4.3 Bcfe in 2023.
    • Peyto invested $458 million in capital7 in 2024, using 64% of funds from operations8 (“FFO”), while returning a record $258 million in dividends to shareholders.
    • In 2024, the Company drilled 58 wells previously booked as proved and probable undeveloped reserves. Peyto converted these locations to developed reserves at a record low finding cost of $0.66/Mcfe, 26% lower than the 2023 reserve report assignments. Peyto’s history of converting reserves at or below booked values provides confidence in the remaining future undeveloped reserves and the associated capital requirements.
    • The before tax, 10% discounted, net present value9 (“BT NPV10“) of the Company’s reserves are $4.9 billion, $7.1 billion, and $9.6 billion on a PDP, Total Proved (“TP”), and Total Proved plus Probable (“P+P”) basis, respectively. The Peyto capital program generated a 16% increase in PDP reserves value over last year, despite the decrease in forecasted prices used by GLJ in this year’s report.  
    • Peyto replaced 166%, 199% and 239% of annual production with new PDP, TP, and P+P reserves, respectively.
    • Peyto delivered reserves growth across all categories in 2024 from its successful drilling program. PDP reserves increased 7% to 474 MMboe, TP reserves increased 5% to 876 MMboe, and P+P reserves increased 5% to 1,367 MMboe. On a per share basis, reserves increased 5%, 3%, and 3% for PDP, TP, and P+P, respectively. Since inception, the Company has generated a 20% compound annual growth rate (“CAGR”10) on a PDP reserves per share basis.
    • FD&A costs, including the change in Future Development Capital (“FDC”), for TP and P+P reserve categories were $0.90/Mcfe ($5.38/boe) and $0.61/Mcfe ($3.67/boe), which represents a 37% and a 50% reduction from 2023, respectively.
    • The Reserve Life Index11 (“RLI”) for the PDP remains unchanged at 10 years despite an 11% increase in year-over-year fourth quarter production. TP and P+P reserves RLI remain strong at 18 and 28 years, respectively, supported by the Company’s industry leading cash costs. Peyto’s PDP reserve life is one of the longest in the industry.
    • Total Company reserve values (BT NPV10) for PDP, TP, and P+P reserves on a debt adjusted basis implies $17.81/share, $28.79/share, and $41.52/share, respectively, using the 3 Consultant Average (“3CA”) price forecast (GLJ, McDaniel, and Sproule).

    2025 CAPITAL BUDGET

    The Board of Directors of Peyto has approved a 2025 capital budget of $450–$500 million. The capital program is projected to add between 43,000 and 48,000 boe/d of new production by year end and more than offset the Company’s estimated 27% decline in base production. The Company expects to utilize four drilling rigs to drill 70–80 net horizontal wells, representing approximately 80% of the 2025 budget. The remaining capital is planned for optimization and maintenance projects for Peyto’s 15 operating gas plants and extensive gathering system infrastructure.  

    Peyto’s active hedging program has secured prices for approximately 473 MMcf/d of natural gas for 2025 at an average price over $4/Mcf, and when combined with the Company’s liquids hedges, provides revenue certainty of over $800 million, reflecting one of the highest levels of price protection in the industry. This revenue more than covers the expected capital program and dividends to shareholders for the year. Peyto’s strong hedge book, market diversification and industry leading cash costs supports the continued development of high-quality inventory despite current low AECO natural gas prices.

    While the threat of U.S. tariffs continues to weigh on the industry and the country, management believes Peyto’s commodity hedges and natural gas diversification contracts will not be directly impacted. The majority of Peyto’s market diversification arrangements that have US hub pricing exposure are physically delivered in Canada and not the US.   Additionally, most of the supplies used in the Company’s operations are sourced domestically, which should also limit any effects from counter tariffs that might be imposed by the Government of Canada. As always, Peyto will remain flexible and responsive to the business environment as it unfolds through 2025.

    HISTORICAL PERSPECTIVE

    Over the past 26 years, Peyto has acquired, explored and discovered 11.2 TCFe of Alberta Deep Basin natural gas and associated liquids, of which 59% has now been developed12.

    Peyto 26-year cumulative production*: 2.97 TCFe
    Total Proved + Probable Developed reserves*:  3.61 TCFe
    Total Developed natural gas and liquids*: 6.57 TCFe
    Total Proved + Probable Undeveloped reserves*: 4.60 TCFe
    Total acquired, explored for and discovered*:
    * As at December 31, 2024
    11.17 TCFe

    Each year the Company invests in the discovery of new reserves and the efficient and profitable development of existing reserves into high netback natural gas and NGL production for the purpose of generating the maximum possible return on capital for its shareholders.

    In those 26 years, a total of $8.9 billion was invested in the Canadian economy in the acquisition and development of 6.6 TCFe of total developed natural gas and associated liquids at an average cost of $1.34/Mcfe, while a weighted average field netback3 of $3.45/Mcfe delivered $9.2 billion in FFO, $3.1 billion in dividends and distributions to shareholders, and resulted in a cumulative recycle ratio4 of 2.6 times. Royalty payments made to Alberta during this time have totaled over $1.3 billion.

    Based on the December 31, 2024 evaluation, the debt adjusted, Net Present Value of the Company’s remaining Total Proved plus Probable reserves (“P+P NPV”, 10% discount, less debt) was $42/share, comprised of $24/share of developed reserves and $18/share of undeveloped reserves. This includes a provision for all abandonment liability for wells, well sites, pipelines, and facilities for which Peyto has ownership and responsibility.

    2024 RESERVES REPORT AND ANALYSIS

    The following table summarizes Peyto’s reserves and the discounted Net Present Value of future cash flows, before income tax, using the 3 Consultant Average price forecast (GLJ, McDaniel, and Sproule), at January 1, 2025.

              Before Tax Net Present Value ($millions)
              Discounted at
    Reserve Category Gas
    (BCF)
    Oil &
    NGL
    (mstb)
    BCFe
    (6:1)
    MMboe
    (6:1)
    0% 5% 8% 10%
    Proved Developed Producing 2,435 67,968 2,843 474 $10,183 $6,693 $5,471 $4,879
    Proved Non-producing 49 1,049 55 9 $183 $110 $85 $73
    Proved Undeveloped 2,029 54,594 2,357 393 $6,814 $3,548 $2,560 $2,099
    Total Proved 4,513 123,611 5,255 876 $17,179 $10,351 $8,116 $7,051
    Probable 2,552 65,826 2,947 491 $11,705 $4,793 $3,185 $2,519
    Total Proved + Probable 7,065 189,437 8,202 1,367 $28,885 $15,143 $11,302 $9,569

    Note: Based on the GLJ report effective December 31, 2024. Tables may not add due to rounding.

    ANALYSIS FOR PEYTO SHAREHOLDERS

    One of the guiding principles at Peyto is “to tell you the business facts that we would want to know if our positions were reversed”. Therefore, each year Peyto provides an extensive analysis of the independent reserve evaluation that goes far beyond industry norms to answer the most important questions for shareholders:

    1. Base Reserves – How did the “base reserves” that were on production at the time of the last reserve report perform during the year, and how did any change in commodity price forecast affect their value?
    2. Value Creation – How much value did the 2024 capital investments create, both in current producing reserves and in undeveloped potential? Has the Peyto team earned the right to continue investing shareholders’ capital?
    3. Growth and Income – Are the projected cash flows capable of funding the growing number of undeveloped opportunities and a sustainable dividend stream to shareholders, without sacrificing Peyto’s financial flexibility or allowing for the timely repayment of any debt used?
    4. Risk Assessment – What are the risks associated with the assessment of Peyto’s reserves and the risk of recovering future cashflows from the forecast production streams?

    1.   Base Reserves

    Peyto’s existing PDP reserves at the start of 2024 (the base reserves) were evaluated and adjusted for 2024 production as well as any technical or economic revisions resulting from the additional twelve months of production and commodity price data. As part of GLJ’s independent engineering analysis, all base 2,968 producing reserve entities (zones/wells) were evaluated. These base producing wells and zones represent a total gross Estimated Ultimate Recoverable (“EUR”) volume of 9.1TCF (remaining PDP+PA reserves plus all cumulative production to date), which is 2% higher than the prior year estimate. As a result, Peyto is pleased to report that its total base reserves continue to meet expectations, which provides confidence in the prediction of future recoveries.

    The commodity price forecast used by GLJ in this year’s evaluation is lower than last year for both natural gas and natural gas liquids, which has had the effect of decreasing the Net Present Value of all reserve categories. For example, 2023’s PDP reserves decreased $268 million (10% of the debt adjusted 2023 NPV10) due to the difference in commodity price forecasts. Despite the decrease in value due to lower prices, record PDP additions from Peyto’s 2024 drilling program resulted in a 16% increase in the PDP BT NPV10 over 2023. The 3CA price forecast used in the evaluation is available on GLJ’s website at www.gljpc.com

    For 2025, Peyto estimates a total base decline rate of approximately 27% from the monthly average production in December 2024 of 136 Mboe/d. The historical base decline rates and capital programs are shown in the following table:

        2016   2017   2018   2019   2020   2021   2022   2023   2024 2025F
    Base Decline (%/yr)*   40%   37%   35%   29%   23%   27%   30%   29%   27%** 27%
    Capital Expenditures ($MM)   $469   $521   $232   $206   $236   $365   $529   $413   $458 $475

    *The base decline represents the aggregate annual decline of all wells on production at the end of the previous year.
    **2024 base decline adjusted to account for voluntarily shut-in volumes associated with uneconomic ethane production as well as the shut-down of sour gas production as Edson Gas Plant.

    2.   Value Creation/Reconciliation

    During 2024, Peyto invested a total of $458 million in organic activity to evaluate exploration lands, expand its pipeline gathering network, and drill, complete and tie-in 77 gross (75.3 net) wells. In keeping with Peyto’s strategy of maximizing shareholder returns, an evaluation of the economic outcome of this investment activity is necessary to determine, on a go-forward basis, the best use of shareholders’ capital. Not only does this look back analysis give shareholders a detailed report card on the capital that was invested, but it also helps illustrate the potential returns that can be generated from similar undeveloped future opportunities.

    Exploration, Development, and Acquisition Activity

    Of the total capital invested in exploration and development activities (excluding acquisitions) in 2024, approximately 1% was spent acquiring lands and seismic, 16% on pipeline and facility projects, and the remaining 83% was spent on drilling, completing, and connecting existing and new reserves. This capital program delivered an incremental 47,300 boe/d, after adjustments for base production backout and voluntary shut-ins, generating a capital efficiency of $9,700/boe/d. Of the 77 gross wells drilled, 58 or 75%, were previously identified as undeveloped reserves in last year’s reserve report (47 Proved, 11 Probable locations). The remaining 19 wells were new locations developed in the year, on both existing and acquired lands, and were not recognized in last year’s report.

    The undeveloped reserves at year-end 2023 originally booked to the 58 drilled locations, referred to above, totaled 305 BCFe (5.3 BCFe/well) of Proved plus Probable Undeveloped reserves for a forecast capital investment of $270 million ($0.89/Mcfe). In actuality, 441 BCFe (7.6 BCFe/well) were developed for $289 million of capital on these wells during 2024, resulting in a conversion cost of $0.66/Mcfe or a 26% improvement over what was previously forecast. Peyto continued to increase average horizonal lengths through 2024 which had the result of increasing total capital spent but also significantly improving year-over-year finding costs with greater reserve recoveries. Additionally, the results generated from both Peyto legacy lands and Repsol acquired lands have outperformed expectations throughout the year.

    The following table illustrates the Company’s historical performance in converting predicted future undeveloped locations into producing wells and demonstrates that, other than the rapid inflation experienced in 2022, Peyto has typically converted more reserves at a lower cost than was forecast.

    Reserve
    Year
    Total
    Drills
    Booked
    Locations
    Converted
    Booked/
    Total
    Forecast Outcome Forecast
    Cost per
    Unit
    Actual Outcome Actual
    Cost per
    Unit
    Actual/
    Forecast
    Cost per
    Unit
      gross wells gross wells   BCFe Capex* $MM $/Mcfe BCFe Capex* $MM $/Mcfe  
    2015 140 103 74 % 307 $ 456 $ 1.49 348 $ 385 $ 1.11 -26 %
    2016 128 82 64 % 254 $ 297 $ 1.17 254 $ 246 $ 0.97 -17 %
    2017 142 97 68 % 298 $ 295 $ 0.99 321 $ 305 $ 0.95 -4 %
    2018 70 37 53 % 104 $ 115 $ 1.10 120 $ 118 $ 0.98 -11 %
    2019 61 39 64 % 129 $ 111 $ 0.86 123 $ 109 $ 0.88 +2 %
    2020 64 52 81 % 172 $ 158 $ 0.92 165 $ 135 $ 0.82 -11 %
    2021 95 61 64 % 221 $ 193 $ 0.87 227 $ 192 $ 0.84 -3 %
    2022 95 79 83 % 331 $ 268 $ 0.81 333 $ 320 $ 0.96 +19 %
    2023 72 44 61 % 171 $ 159 $ 0.93 236 $ 196 $ 0.83 -11 %
    2024 77 58 75 % 305 $ 270 $ 0.89 441 $ 289 $ 0.66 -26 %
    Total 944 652 69 % 2,292 $ 2,322 $ 1.01 2,568 $ 2,295 $ 0.89 -12 %

    *Capex represents only well related capital for drilling, completion, equipping and tie-in

    This annual analysis of reserves that are converted from undeveloped to developed provides confidence in the validity of the remaining future undeveloped reserves and the associated capital requirements. This helps Peyto predict future reserve recoveries and capital requirements and reduces the risk associated with valuing future undeveloped locations.

    Value Reconciliation

    In order to measure the success of all capital invested in 2024, it is necessary to quantify the total amount of value created during the year and compare that to the total amount of capital invested. Each year, Peyto runs last year’s reserve evaluation with this year’s price forecast to remove the change in value attributable to commodity prices. This approach isolates the value created by the Peyto team from the value created (or lost) by those changes outside of their control (ie. Commodity prices). Since capital investments can be funded from a combination of cash flow, debt and equity, it is necessary to know the change in debt and the change in shares outstanding to see if the change in value is truly accretive to shareholders.

    At year-end 2024, Peyto’s estimated net debt13 decreased by approximately 0.7% or $10 million from December 31, 2023, while the number of shares outstanding increased by 2%, due to the Company’s stock option program, to 197.8 million shares. In calculating the change in debt, the Company included all capital expenditures, and the total fixed and performance-based compensation paid out for the year. Although these estimates are believed to be accurate, they remain unaudited at this time and may be subject to change.

    Based on this reconciliation of changes in BT NPV0, the Peyto team was able to create $1.9 billion of PDP, $2.4 billion of TP, and $3.6 billion of P+P undiscounted reserve value, with $458 million of capital investment. The ratio of capital expenditures to value creation is what Peyto refers to as the NPV0 recycle ratio4, which is simply the undiscounted value addition, resulting from the capital program and acquisition, divided by the capital and acquisition investment. For 2024, the PDP NPV0 recycle ratio is 4.1, which means for each dollar invested, the Peyto team was able to create 4.1 new dollars of undiscounted PDP reserve value.

    The historic NPV0 recycle ratios are presented in the following table.

        2015   2016   2017   2018   2019   2020   2021   2022   2023  2024 10 yr
    Wt.
    Avg.
    Capital Investment ($MM)   $594   $469   $521   $232   206   $236   $365   $529   $1,112 $458
    NPV0Recycle Ratio                      
    Proved Developed Producing   2.3   2.9   2.3   4.6   1.8   3.5   5.2   3.6   2.0 4.1 3.0
    Total Proved   3.3   4.2   3.2   11.7   5.5   6.9   5.5   4.0   4.4 5.3 4.8
    Total Proved + Probable   5.0   7.3   4.0   15.1   9.2   6.5   11.5   3.8   7.8 7.9 7.2

    *NPV0(net present value) recycle ratio is calculated by dividing the undiscounted NPV of reserves added in the year by the total capital cost for the period (eg. 2024 Proved Developed Producing $1,857/$458) =4.1).

    3.   Growth and Income

    Over the past 22 years, Peyto has paid a total of $22.63/share to shareholders in the form of distributions and dividends. Peyto’s objective, as a dividend paying, growth-oriented corporation, is to profitably grow the resources which generate sustainable income (dividends) for shareholders. For income to be sustainable and grow, Peyto must profitably find and develop more reserves. Simply increasing production from the existing reserves will not make that income more sustainable. RLI, or a reserve to production ratio, provides a measure of this long-term sustainability.

    During 2024, the Company’s capital program was successful in replacing 166% of annual production with new PDP reserves, resulting in 7% growth. Fourth quarter production increased 11%, from 120 Mboe/d (623 MMcf/d gas, 16,175 bbl/d NGLs) to 133 Mboe/d (708 MMcf/d gas, 15,409 bbl/d NGLs). The change in both PDP reserves and fourth quarter production held the PDP RLI (ratio of the two) flat at 10 years. For comparative purposes, the TP and P+P RLI were 18 and 28 years, respectively. Management believes that the most meaningful method to evaluate the current reserve life is by dividing the PDP reserves by the actual fourth quarter annualized production. This way production is being compared to producing reserves as opposed to producing plus non-producing reserves.

    The following table highlights the Company’s historical RLI.

      2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
    Proved Developed Producing 7 7 7 9 9 9 9 9 10 10
    Total Proved 11 11 11 16 19 18 16 15 19 18
    Total Proved + Probable 17 18 18 25 29 27 25 24 30 28

    Future Undeveloped Opportunities

    Every year Peyto finds and develops new drilling inventory that GLJ reviews to create a forecast of future development activity. Their forecast is by no means a complete assessment of Peyto’s current opportunities, nor is Peyto content to just sit back and harvest these current opportunities. Each year the results from the drilling and acquisition activity spawn additional offsetting locations both on currently owned lands and lands Peyto does not yet own but attempts to acquire.

    As of December 31, 2024, the future drilling locations recognized in the reserve report totaled 1,604 gross (1,293 net). This is down slightly from the previous year of 1,616 (1,292 net) as a result of optimization of future locations. Of these future locations, 1,056 (66%) are categorized as Proven Undeveloped by the independent reserve evaluators, while 548 (34%) are Probable Undeveloped locations. The net reserves associated with the undeveloped locations (not including existing uphole zones) totals 4.6 TCFe (3.6 BCFe/well) consisting of 3.96 TCF of natural gas and 106 MMbbls of NGLs, while the capital required to develop them is estimated at $5.7 billion or $1.23/Mcfe. This development is forecast to create Before Tax Net Present Value of $4.0 billion (at 10% discount rate, inclusive of profit after capital recovery and future abandonment liability) or $18 per share (debt adjusted) of incremental value at the 3CA commodity price forecast.

    The undiscounted forecast for Net Operating Income for the TP and P+P reserves over the future development capital schedule, as contained in the evaluator’s report, totals $8.9 billion and $15.8 billion, respectively, more than sufficient to fund the future development capital shown in the table below, ensuring those reserve additions are accretive to shareholders.

      Future Development Capital
      TP Reserves P+P Reserves
    Year Undisc., ($Millions) Undisc., ($Millions)
    2025 493 496
    2026 483 498
    2027 423 559
    2028 533 602
    2029 575 603
    2030 542 598
    2031 338 597
    2032 – 601
    Thereafter – 1,154
    Total 3,386 5,707

    4.   Risk Assessment

    Effectively 100% of Peyto’s natural gas and natural gas liquid reserves exist in low permeability (tight), sandstone reservoirs in the Alberta Deep Basin. In almost all cases, the volumetric capacity of these sandstone reservoirs can be determined using traditional geological and reservoir engineering methods, which, when complimented by production performance data, increases the certainty of the reserve estimates. In the majority of Peyto’s core areas, continuous drilling activity has further refined the geologic and geometric definition of these reservoirs to a higher level of certainty.

    In addition, these Deep Basin sandstone reservoirs do not contain mobile water, nor are they supported by active aquifers. Mobile water traditionally increases the risk associated with reservoir recovery by impeding the flow of hydrocarbons through the reservoir and up the wellbore. Water production, separation and disposal processes also increase operating costs which shortens the economic life of producing wells, further contributing to reduced recovery. As many of these traditional reserves determination and recovery risks are not present in Peyto’s Deep Basin reservoirs, Management has a higher level of confidence in its reserves and their ultimate recovery.

    Peyto’s high operating margins have meant that forecasts of net operating income are less affected by commodity price volatility than in most traditional reserve evaluations. As a result, the predicted economic life of Peyto’s producing wells is less sensitive to changes in commodity prices. These high operating margins are achieved through the Company’s high level of ownership and control of all levels of production operations, through a concentrated geographic asset base, and by striving to be the lowest cost producer in the industry.

    Peyto attempts to further reduce the risk of predicted operating incomes with an active market diversification and hedging program that is designed, over time, to smooth out the volatility in both Alberta and US natural gas markets through a series of frequent transactions which is like “dollar cost averaging” the future gas price.

    Finally, Peyto is the operator of over 96% of its producing wells, which fits with the Company’s own and control strategy. As of December 31, 2024, Peyto owned a total of 2,819 net wells of which over 90% are on production today and most are expected to produce for decades to come. Despite the Company’s very low non-producing well count, Peyto has an active well retirement program where 14 net wells were abandoned in 2024.   For perspective, the current existing developed reserves have a forecast value of $5.6 billion (NPV10 of the PDP + PA and PDNP + PA), while the cost to abandon and reclaim all wells, well sites, pipelines, and facilities is estimated at $80 million using the same 10% discount rate for future costs. Peyto’s future abandonment and reclamation costs are substantially within the province of Alberta and are estimated in a manner that is consistent with Alberta Energy Regulator (“AER”) Directive 11 and other Alberta-based exploration and production companies. Peyto plans to spend approximately $10 million on abandonment and reclamation activities in 2025 which exceeds the mandatory spending requirements as set out by the AER for the period.  

    PERFORMANCE RATIOS

    The following table highlights annual performance ratios for the last decade. These can be used for comparative purposes, but it is cautioned that on their own they do not measure investment success.

        2024     2023     2022     2021     2020     2019     2018     2017     2016     2015  
    Proved Developed Producing                    
    FD&A ($/Mcfe)   $1.00     $1.21     $1.41     $0.97     $1.06     $1.55     $1.18     $1.36     $1.44     $1.64  
    RLI (yrs)   10     10     9     9     9     9     9     7     7     7  
    Recycle Ratio   3.3     2.9     2.8     2.8     1.5     1.4     2.3     2.1     1.8     2.0  
    Reserve Replacement   166 %   400 %   165 %   188 %   127 %   75 %   98 %   171 %   153 %   193 %
    Total Proved                    
    FD&A including the change in FDC ($/Mcfe)   $0.90     $1.43     $1.75     $1.10     $0.20     $1.41     $1.21     $1.39     $1.01     $0.72  
    RLI (yrs)   18     19     15     16     18     19     16     11     11     11  
    Recycle Ratio   3.6     2.5     2.3     2.4     8.0     1.5     2.2     2.0     2.6     4.5  
    Reserve Replacement   199 %   727 %   159 %   194 %   132 %   137 %   294 %   225 %   183 %   188 %
    Future Development Capital ($ millions)   $3,386     $3,352     $2,081     $1,979     $1,917     $2,107     $1,971     $1,488     $1,305     $1,381  
    Total Proved + Probable                    
    FD&A including the change in FDC ($/Mcfe)   $0.61     $1.22     $2.03     $1.09     ($0.01 )   $1.25     1.02     $1.49     $0.62     $0.54  
    RLI (yrs)   28     30     24     25     27     29     25     18     18     17  
    Recycle Ratio   5.3     2.9     1.9     2.5     N/A     1.7     2.6     1.9     4.2     6.1  
    Reserve Replacement   239 %   1077 %   167 %   308 %   167 %   140 %   342 %   279 %   283 %   287 %
    Future Development Capital ($millions)   $5,707     $5,764     $3,855     $3,612     $3,308     $3,547     $3,445     $2,978     $2,563     $2,657  

    See Non-GAAP Financial Ratios in the Advisories section of this news release for details on the calculation of the above metrics.

    RESERVES COMMITTEE

    Peyto has a reserves committee, comprised of a majority of independent board members, that reviews the qualifications and appointment of the independent reserve evaluators. The committee also reviews the procedures for providing information to the evaluators. All booked reserves are based upon annual evaluations by the independent qualified reserve evaluators conducted in accordance with the COGE (Canadian Oil and Gas Evaluation) Handbook and National Instrument 51-101. The evaluations are conducted using all available geological and engineering data. The reserves committee has reviewed the reserves information and approved the reserve report.

    GENERAL

    A complete filing of the Statement of Reserves (form 51-101F1), Report on Reserves (form 51-101F2), and Report of Management and Directors on Oil and Gas Disclosure (form 51-101F3) will be available in the Annual Information Form to be filed by the end of March 2025. Shareholders are encouraged to actively visit Peyto’s website located at www.peyto.com. For further information, please contact Jean-Paul Lachance, President and Chief Executive Officer of Peyto at (403) 261-6081.

    ADVISORIES

    Unaudited Financial Information

    Certain financial and operating information included in this news release including, without limitation, exploration and development expenditures, acquisitions, field netbacks, funds from operations, net debt, FD&A costs, Finding & Development costs excluding acquisitions, acquisition costs, and recycle ratio, are based on estimated unaudited financial results for the year ended December 31, 2024, and are subject to the same limitations as discussed under Forward Looking Information set out below. These estimated amounts may change upon the completion of audited financial statements for the year ended December 31, 2024 and changes could be material.

    Information Regarding Disclosure on Oil and Gas Reserves

    Some values set forth in the tables above may not add due to rounding. It should not be assumed that the estimates of future net revenues presented in the tables above represent the fair market value of the reserves. There is no assurance that the forecast prices and costs assumptions will be attained, and variances could be material. The aggregate of the exploration and development costs incurred in the most recent financial year and the change during that year in estimated future development costs generally will not reflect total finding and development costs related to reserves additions for that year.

    Forward-Looking Information

    This news release contains certain forward–looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this news release contains forward-looking information and statements pertaining to the following: management’s assessment of Peyto’s future plans and operations, including the 2025 capital expenditure program, the volumes and estimated value of Peyto’s reserves, the life of Peyto’s reserves, production estimates, project economics including NPV, netback and recycle ratio, the ability to enhance value of reserves for shareholders and ensure the reserves generate the maximum possible return; management’s belief that Peyto’s commodity hedges and the majority of the Company’s natural gas diversification contracts will not be impacted directly by potential tariffs imposed by the U.S.; and management’s assessment of limited impact from counter tariffs that might be imposed by Canada on U.S. imports.   Forward-looking statements or information are based on a number of material factors, expectations or assumptions of Peyto which have been used to develop such statements and information, but which may prove to be incorrect. Although Peyto believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking information and statements because Peyto can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, the impact of increasing competition, the timely receipt of any required regulatory approvals, the ability of Peyto to obtain qualified staff, equipment and services in a timely and cost efficient manner, drilling results, field production rates and decline rates, the ability to replace and expand reserves through development and exploration, future commodity prices, currency, exchange and interest rates, regulatory framework regarding royalties, taxes, tariffs and environmental matters and the ability of Peyto to successfully market its oil and natural gas products. By their nature, forward-looking information and statements are subject to numerous risks and uncertainties, some of which are beyond these parties’ control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Peyto’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information and statements will transpire or occur, or if any of them do so, what benefits that Peyto will derive therefrom. The forward-looking information and statements contained in this news release speak only as of the date of this news release, and Peyto does not assume any obligation to publicly update or revise any of the included forward-looking statements or information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

    This news release contains information, including in respect of Peyto’s 2025 capital program, which may constitute future oriented financial information or a financial outlook. Such information was approved by the Board of Directors of Peyto on February 20, 2025, and such information is included herein to provide readers with an understanding of the Company’s anticipated capital expenditures for 2025. Readers are cautioned that the information may not be appropriate for other purposes.

    Barrels of Oil Equivalent
    Boes may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

    Drilling Locations
    This news release discloses drilling locations in three categories: (i) proved locations; (ii) probable locations; and (iii) unbooked locations. Proved locations and probable locations are derived from the independent engineering evaluation of Peyto’s oil, NGLs and natural gas interests prepared by GLJ dated February 20, 2025 and effective December 31, 2024 (the “Peyto Report”). Unbooked locations are internal estimates based on prospective acreage and an assumption as to the number of wells that can be drilled per section based on industry practice and internal review. Unbooked locations do not have attributed reserves.   Unbooked locations have been identified by management as an estimation of Peyto’s multi‐year drilling activities based on evaluation of applicable geologic, seismic, engineering, production and reserves information. There is no certainty that Peyto will drill all unbooked drilling locations and if drilled there is no certainty that such locations will result in additional oil and gas reserves or production. The drilling locations on which Peyto actually drill wells will ultimately depend upon the availability of capital, regulatory approvals, seasonal restrictions, oil and natural gas prices, costs, actual drilling results, additional reservoir information that is obtained and other factors. While certain of the unbooked drilling locations have been de-risked by drilling existing wells in relative close proximity to such unbooked drilling locations, some of the other unbooked drilling locations are further away from existing wells where management has less information about the characteristics of the reservoir and therefore there is more uncertainty whether wells will be drilled in such locations, and if drilled there is more uncertainty that such wells will result in additional oil and gas reserves or production.

    Non-GAAP and Other Financial Measures

    Throughout this news release, Peyto employs certain specified financial measures to analyze financial and operating performance, financial position, and cash flow. These non-GAAP and other financial measures do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other entities. Such metrics have been included by Peyto to give readers additional measures to evaluate the Peyto’s performance; however, such measures are not reliable indicators of the future performance of Peyto and future performance may not compare to the performance in previous periods and therefore such metrics should not be unduly relied upon.

    Non-GAAP Financial Measures

    Funds from Operations
    “Funds from operations” is a non-GAAP measure which represents cash flows from operating activities before changes in non-cash operating working capital and provision for future performance-based compensation. Management considers funds from operations and per share calculations of funds from operations to be key measures as they demonstrate the Company’s ability to generate the cash necessary to pay dividends, repay debt and make capital investments. Management believes that by excluding the temporary impact of changes in non-cash operating working capital, funds from operations provides a useful measure of Peyto’s ability to generate cash that is not subject to short-term movements in operating working capital. The most directly comparable GAAP measure is cash flows from operating activities.

    Capital Expenditures
    Peyto uses the term capital expenditures as a measure of capital investment in exploration and production activity, as well as property acquisitions and divestitures, and such spending is compared to the Company’s annual budgeted capital expenditures. The most directly comparable GAAP measure for total capital expenditures is cash flow used in investing activities.

    Net Debt
    “Net debt” is a non-GAAP financial measure that is the sum of long-term debt and working capital excluding the current financial derivative instruments and current portion of lease obligations. It is used by management to analyze the financial position and leverage of the Company. Net debt is reconciled to long-term debt which is the most directly comparable GAAP measure.

    Non-GAAP Financial Ratios

    Netback per MCFE
    “Netback” is a non-GAAP measure that represents the profit margin associated with the production and sale of petroleum and natural gas. Peyto computes “field netback per Mcfe” as commodity sales from production, plus net third party sales, if any, plus other income, less royalties, operating, and transportation expense divided by production.

    Finding, Development and Acquisition Costs
    FD&A (finding, development and acquisition) costs are used as a measure of capital efficiency and are calculated by dividing the capital costs for the period, plus acquisition costs and including the change in undiscounted FDC, by the change in the reserves, incorporating revisions and production, for the same period (eg. 2024 Total Proved ($458MM+$0MM+$33MM)/( 875.9Mboe-830.5Mboe+45.8Mboe) = $5.38/boe or $0.90/Mcfe).

    Finding and Development Costs
    F&D (finding and development) costs are used as a measure of capital efficiency and are calculated by dividing the capital costs for the period, including the change in undiscounted FDC, by the change in the reserves, incorporating revisions and production, for the same period.

    Reserve Life Index
    The RLI is calculated by dividing the reserves (in boes) in each category by the annualized Q4 average production rate in boe/year (eg. 2024 Proved Developed Producing 473,834Mboe/(133Mboe/d x366) =9.7). Peyto believes that the most accurate way to evaluate the current reserve life is by dividing the proved developed producing reserves by the annualized actual fourth quarter average production. In Peyto’s opinion, for comparative purposes, the proved developed producing reserve life provides the best measure of sustainability.

    NPV0Recycle Ratio
    The NPV0Recycle Ratio is the ratio of capital expenditures to value creation, which is simply the undiscounted value addition, resulting from the capital program and acquisition, divided by the capital and acquisition investment.

    Recycle Ratio
    The Recycle Ratio is calculated by dividing the field netback per boe, by the FD&A costs for the period (eg. 2024 Proved Developed Producing $19.59/boe/$6.01/boe=3.3). The recycle ratio compares the netback from existing reserves to the cost of finding new reserves and may not accurately indicate investment success unless the replacement reserves are of equivalent quality as the produced reserves.

    Reserve Replacement Ratio
    The reserve replacement ratio is determined by dividing the yearly change in reserves before production by the actual annual production for the year (eg. 2024 Total Proved (875.9Mboe-830.5Mboe+45.8Mboe )/45.8Mboe =199%).

    Compound Annual Growth Rate
    The compound annual growth rate (CAGR) is the annualized average rate of PDP reserves growth from 1998 to 2024, assuming growth takes place at an exponentially compounded rate. 

    Capital Efficiency
    Capital Efficiency refers to how efficiently the Company utilizes its capital investment to generate production. It is calculated by dividing the capital costs for the period, plus acquisition costs, by December production volumes added from the 2024 capital program (eg. 2024 capital efficiency ($458MM)/( 47,300 boe/d) = $9,700 per boe/d).

    The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.
    ___________________________________

    1BCF and TCF refers to billions and trillions of cubic feet, respectively
    2 MMboe refers to million barrels of oil equivalent
    3F&D and FD&A are non-GAAP financial ratios. See “non-GAAP and Other Financial Measures” in this news release
    4Capital efficiency is a non-GAAP financial ratio. See “non-GAAP and Other Financial Measures” in this news release
    5Field netback operations is a non-GAAP financial ratio. See “non-GAAP and Other Financial Measures” in this news release
    6Recycle ratio and NPV Recycle Ratio are non-GAAP financial ratios. See “non-GAAP and Other Financial Measures” in this news release
    7Capital expenditures is a non-GAAP financial measure. See “non-GAAP and Other Financial Measures” in this news release
    8Funds from operations is a non-GAAP financial measure. See “non-GAAP and Other Financial Measures” in this news release
    9It should not be assumed that the estimates of future net revenues (NPVs) represent the fair market value of the reserves
    10Compound annual growth rate (CAGR) is a non-GAAP financial ratio. See “non-GAAP and Other Financial Measures” in this news release
    11RLI is a non-GAAP financial ratio. See “non-GAAP and Other Financial Measures” in this news release
    12Developed Reserves is Total Proved + Probable Developed Reserves and includes Proved + Probable Developed Producing reserves and Proved + Probable Developed Non-Producing reserves
    13Net debt is a non-GAAP financial measure. See “non-GAAP and Other Financial Measures” in this news release

    The MIL Network –

    February 21, 2025
  • MIL-OSI Economics: Improving Lives in the US with Comfortable, Healthy, and Energy-Efficient Air Conditioning: Miki Okiebisu

    Source: Panasonic

    Headline: Improving Lives in the US with Comfortable, Healthy, and Energy-Efficient Air Conditioning: Miki Okiebisu

    Launching New Whole-home Air Conditioning System OASYS
    Miki Okiebisu
    Panasonic Eco Systems North America (PESNA)
    Okiebisu joined the company in 2015. She began her career in sales to domestic housing manufacturers at Panasonic Ecology Systems Co., Ltd. In 2022, she transitioned to product planning and new business development for large overseas markets, focusing mainly on Asia. After relocating to the US in March 2023, she is now leading the launch of the OASYS whole-home air conditioning system, unveiled at CES 2025.

    The Key to Expansion in the US: Adaptation to Market Conditions, Housing Structures, and Business Practices

    In the US, whole-home HVAC systems that heat and cool an entire building with a single unit are the norm. However, transitioning to more efficient heat pumps and inverter-based air conditioning is essential for advancing a decarbonized society. To address this, we developed OASYS, the first whole-home air conditioning system in the US to seamlessly integrate*1 Mini Split AC, Energy Recovery Ventilator (ERV), and transfer fans using DC motor-driven ventilation fans.
    *1: According to research by Heating & Ventilation A/C Company, Panasonic Corporation, as of January 8, 2025.
    As one of North America’s leading providers of ventilation fans, Panasonic launched the OASYS project in 2020 to establish a new whole-home air conditioning business. By leveraging our existing high-performance HVAC*2 products, we strive to deliver comfort, health, and energy efficiency in a single solution.
    *2: Stands for Heating, Ventilation, and Air Conditioning, a collective term for air conditioning systems.
    OASYS is more than just an air conditioning system. Its key feature is that it delivers value by integrating seamlessly with the overall home design. That is why the Concept Home, which allows builders and other B2B stakeholders in home construction to experience the OASYS concept firsthand, plays a key role in advancing the business. Since moving to the US, I have been closely involved in this initiative, which also serves as a testing ground for future products and services.

    The OASYS Concept Home in Houston, Texas. We eagerly anticipate a positive response from visitors wishing to experience it firsthand, even before its grand opening event.

    At the same time, OASYS is based on a system developed by a Japanese startup for the domestic market. Expanding it to the US requires adapting to local market conditions, housing structures, and business practices. As such, one of my crucial missions was to define component specifications, establish design guidelines, and build a solid business framework.

    Encouraged by the Belief That There Is Not Just One Correct Answer for New Challenges: Thorough Discussions on Roles, Responsibilities, and Collaboration

    Clearly explaining the key features of the OASYS system to partner companies

    The biggest challenge was overcoming the differences in business practices between Japan and the US. Although OASYS is a superior whole-home air conditioning system, in order to enhance the home’s overall performance holistically, close coordination with home construction is essential, from HVAC and energy planning to determining the placement of the mechanical room. In Japan, construction firms oversee the entire process, but in the US, tasks such as HVAC system design, energy planning, and home design are handled separately by different specialists. For that reason, not only did we have to coordinate with a wide range of partner companies, but there were also many tasks where it was unclear who was responsible for ensuring the performance of OASYS and the overall home.
    To address this, I carefully explained the OASYS system to partner companies, ensuring that all necessary steps for its implementation and installation were executed correctly. We established a solid business framework through ongoing discussions on roles, responsibilities, and collaboration. Despite the challenges, colleagues and local team members were always willing to offer support, emphasizing that there is not a single correct answer for new challenges. Their openness to discussion, along with close communication and collaboration, helped keep the project on track.

    Expanding OASYS to More Regions: Integrating with Energy Solutions
    We spend more than half our lives at home. Through OASYS, I find fulfillment in helping people enjoy both energy efficiency and comfort in their homes without compromise, enhancing their quality of life. OASYS received a great response at CES, but its true value can only be fully understood through firsthand experience. I look forward to welcoming many customers to the Concept Home to experience OASYS firsthand.

    In the US, climate, housing specifications, regulations, and industry structures vary by region. Moving forward, we will continue evaluations and discussions with local teams to deliver systems tailored to each region’s specific needs. Another key strength of the Panasonic Group is our ability to offer not just air conditioning solutions but also integrated systems that combine hot water heating and energy generation and storage. I will continue promoting collaboration across PESNA to further expand OASYS.

    MIL OSI Economics –

    February 21, 2025
  • MIL-OSI Canada: Senior leadership appointment in the Government of Yukon public service

    Senior leadership appointment in the Government of Yukon public service
    zaburke
    February 20, 2025 – 2:27 pm

    Premier Ranj Pillai has made a senior leadership appointment. 

    Paul Moore’s appointment as interim Deputy Minister of Energy, Mines and Resources has been extended at pleasure for up to three months. The Energy, Mines and Resources portfolio will continue to be divided between the acting Deputy and interim Deputy Ministers.

    Moore will be responsible for Land Planning, Land Management, Agriculture, Energy, Geothermal and Petroleum Resources, Forest Management, Strategic Alliances, Policy, Human Resources, Communications, Finance and Information Management.

    Van der Meer will continue to be responsible for Mineral Resources, Yukon Geological Survey, Assessment and Abandoned Mines and Compliance, Monitoring and Inspection.  
     

    Backgrounder

    Paul Moore has many years of public service experience with municipal, First Nations and territorial governments including director of the Human Resource and Education for the Tr’ondëk Hwëch’in First Nation, and the chief administrative officer for the City of Dawson. He joined the Government of Yukon in 2008 as director of Community Affairs and then became assistant deputy minister of Community Development. He has served as the Deputy Minister for Community Services, Deputy Minister of Energy, Mines and Resources and most recently as the Public Service Commissioner. He holds a Bachelor of Arts from the University of Victoria and a Master of Arts in Conflict Analysis and Management from Royal Roads University.

    MIL OSI Canada News –

    February 21, 2025
  • MIL-OSI Australia: (WIP) Big batteries in 2025: the market evolution continues

    Source: Allens Insights

    Another big year for BESS 12 min read

    Utility-scale batteries reached new heights in 2024, achieving several industry firsts. Milestones include the first project-financed virtual offtake agreement and long-term energy service agreement (LTESA), coupled with inventive approaches to revenue stack structuring. As investor interest intensifies, the future of battery storage looks promising.

    This latest Insight on the Australian big battery market delves into the recent trends, the potential opportunities and hurdles for this rapidly evolving industry.

    Key takeaways

    • Project financing of battery energy storage system (BESS) projects is on the rise, with an increasingly sophisticated market, a widening pool of sponsors and diverse range of investment structures.
    • Virtual offtake agreements are dominating the offtake market, giving developers greater flexibility in their revenue stack and opportunities for equity upside through market arbitrage.
    • Interest in the Capacity Investment Scheme and LTESAs is increasing and contributing to projects reaching financial close.
    • Equity investors continue to be attracted to standalone and co-located BESS projects, as well as investment in the hardware and software of a battery.

    What we are seeing in the market

    A growing number of battery projects achieved financial close across the past year and project finance has continued to be the dominant approach. We have seen significant greenfield and operational battery projects financed on a standalone basis and as part of hybrid projects, as well as portfolio-based financings. 

    Key examples of this trend are the renewables portfolio financings for Global Power Generation, FRV and Neoen, all of which included battery projects as part of the technology mix. Akaysha Energy’s standalone financing of its Orana Battery Energy Storage System marked a financing for the largest four-hour BESS in Australia’s National Energy Market (NEM), and one of the largest in the world. 

    The continued support in the project finance market for battery storage projects has been driven by a range of factors, including:

    • a widening pool of sponsors—and, in some cases, extremely strong sponsors—who are investing in the technology;
    • a diverse range of investment structures and rationales, which have seen developers and sponsors raise debt financing for batteries on a standalone and portfolio basis, or as part of co-located or hybrid projects. In some cases, this has been motivated by a business pivot or expansion in response to an increasing need to couple projects with intermittent generation sources with a firming energy source or, more generally, net zero and decarbonisation objectives; and
    • increasing sophistication and experience of developers, contractors and other stakeholders in relation to procurement and contracting strategy, trading strategy, management of interface and gap risk in the context of split contracting, and innovation in revenue structures.

    These trends have been accompanied by—and, in some ways, conducive to—an expanding range of financiers (including mainstream commercial banks, government lenders and other non-bank lenders) participating in financings for battery projects; a greater understanding from lenders of technology and degradation risk; and a greater market acceptance of split contracting structures and non-traditional revenue structures as bankable.

    Throughout 2024 we observed a marked increase in the development and adoption of virtual offtake agreements as a preferred offtake structure. Notable examples are Neoen’s Western Downs BESS and Victorian Big Battery, and, as mentioned earlier, Akaysha’s Orana BESS. 

    A virtual offtake agreement decouples the financial offtake from the physical project. The project company may therefore choose not to follow the instructions of the offtaker and instead operate the BESS according to its own internal trading strategy, but it must still settle the financial swap on pre-agreed terms, regardless of battery capacity and how much the battery is charged or discharged. 

    From the project company’s perspective, unlike a traditional physical toll, it retains control of the physical battery. This increases the opportunities for equity upside through trading arbitrage. The structure also facilitates greater flexibility for a single project to procure offtake agreements with multiple offtakers. It may also be compatible with hybrid or co-located projects in need of multiple offtakers for different components of the project.

    Virtual offtakes are not, however, for everyone. Both the owner and the offtaker need sophisticated trading teams to allow them to make the most of the virtual arrangements and to reduce the risk of making losses. Similarly, developers who want to sell out of a project prior to financial close may want to consider whether a virtual offtake agreement could limit the potential buyer pool to those that have the technical capability to trade the asset.

    In considering this type of structure from a financing perspective, lenders will be focused on mitigating the potential downside exposure in circumstances where physical trading by the project company underperforms against the virtual nominations, eroding actual base case revenue against revenue assumptions against which debt is sized.  

    Providing lenders with appropriate oversight and protections (including, if required, agreed trading protocols), while providing sufficient room for equity to seek upside opportunities, will be the key to building broader market acceptance of the bankability of non-traditional revenue structures such as virtual offtake agreements.

    Last year saw the Federal Government launch the first five tenders in its Capacity Investment Scheme, which wrapped in a tender for the NSW Government’s LTESAs.

    Each tender round has been oversubscribed, indicating a strong appetite from project developers to secure a government underwriting contract such as a Capacity Investment Scheme Agreement (CISA) or an LTESA. 

    While these underwriting contracts have typically been viewed by project financiers as welcome enhancements, they have traditionally been seen as a ‘nice-to-have’ feature, with the primary focus of lenders being on whether the project has the benefit of a traditional tolling or offtake agreement. At most, we saw sponsors and borrowers proposing to recognise CISAs and LTESAs acting as a floor against any potential market risk (either due to the residual life of the BESS past the offtake tenor or for partially contracted assets). 

    More recently, we are seeing lenders develop a greater understanding of how such agreements can underpin forecast project cashflows in a way that enables higher weighting to be placed on them as a certain and bankable revenue line in the base case financial model. This approach is often supported by tailored protections that are agreed in the debt documents, such as:

    • undertakings around how the project activates and manages its rights to receive support payments;
    • information undertakings, to provide lenders with appropriate visibility over the operation of the underwriting agreement during the facility term; and
    • cash reserving requirements, to facilitate the project maximising the benefit of underwriting agreements, while providing for a buffer should there be a need to meet any payment obligations back to the counterparty (eg reconciliation payments or rebates).

    As more government underwriting agreements are awarded under the LTESA and CISA schemes, there will be an increasing number of projects in the market where such agreements are a feature of the revenue profile. We expect that market acceptance of this approach will continue to broaden over time.

    Split contracting has established itself as the market standard for BESS projects, with sponsors and financiers becoming significantly more comfortable with managing and banking the interface risks between battery supply and balance of plant (BOP) scope.

    Commissioning, handover, defects, security, liability caps and liquidated damages coverage continue to be key areas of focus in negotiations, gaps analysis and bankability assessments. However, the issues, and the related mitigation strategies and contingencies, are now well understood.

    As the BESS split contracting structure has matured, we have also begun to see sponsors with a portfolio of upcoming BESS and other renewables projects seek to partner informally with preferred battery suppliers and/or BOP contractors across that pipeline—the goal being to expedite procurement timeframes, secure production slots and standardise terms across their portfolio.

    With BESS projects increasingly being co-developed with related solar/wind projects (either greenfield or expansions), we also expect to see an increase in a common BOP contractor delivering both the battery and solar/wind BOP scope. At this stage, the BOP scope usually remains ringfenced between assets (eg there is a BESS BOP contract and a solar BOP contract). However, we expect to see sponsors push towards a single hybrid project BOP contract covering both assets, to seek to streamline contracting terms and construction programs on hybrid projects.

    In order to ensure that the structure is bankable, project financiers require a rigorous gaps analysis process underpinning the contract negotiations, along with confidence in the capability and experience of the contractors themselves. The need for a robust gaps analysis does mean more substantial engagement with financiers, and sponsors and developers have had to factor this into the overall transaction timetable. However, the continued rise in standard terms contracts from certain contractors in the market may facilitate efficiencies in the due diligence process, especially on portfolio-based financings.

    Investors continue to be attracted to BESS assets. Unsurprisingly, the reasons for their increasing investment appeal are similar to why we are seeing more and more BESS projects reach financial close.

    These factors enable BESS owners to diversify and maximise revenue output from their renewable energy portfolios. Coupled with favourable investment characteristics for BESS assets, such as lower capex costs and shorter development timelines (particularly when compared with other renewable asset types), we expect to see investment appetite for BESS assets continue to grow.

    In the Australian M&A market, this investor appetite has manifested primarily in the form of co-location ‘add-ons’—where vendors looking to sell a solar or wind project have added a BESS development opportunity to the project. If the BESS can be developed on the project’s existing land footprint, the ‘add-on’ process is relatively simple (other than for the connection process, which continues to cause headaches for developers), and the project up for sale can be rebranded as a co-located wind/solar and BESS project, unlocking for the buyer the various new revenue streams. For the vendor, those additional revenue streams mean a higher purchase price.

    What’s on the horizon

    Recognition of sub-investment grade offtakers?

    The offtaker’s credit quality will continue to be a focus for lenders when assessing BESS projects. However, as a greater range of offtakers enter the market, we can expect more frequent proposals for financiers to consider counterparties that may not have the credit ratings that would typically be required for a bankable project.

    We are seeing this area incrementally develop. This is particularly so in renewables portfolio financings, where certain sub-investment grade offtakers may be recognised and given greater weighting (and, in some cases, equivalent to an investment grade offtaker) as part of debt sizing cashflows, subject to appropriate percentage caps and other criteria being met.

    Opportunities for fully merchant BESS projects

    A further example of the evolving market for BESS financings may be found in the recent Amp Energy project financing of a fully merchant BESS project by commercial bank lenders and Export Development Canada. While we have certainly seen project financings for BESS projects with merchant exposure, those projects have typically included at least some contracted revenue component (whether through a tolling agreement, virtual power purchase agreement, LTESA or revenue risk-sharing agreement). 

    This makes the Amp transaction an interesting market development. Depending on the project and the sponsor, the debt model on the Amp transaction may not be feasible for all sponsors and developers, given that a fully merchant BESS compared with a contracted BESS would necessarily mean more conservative debt sizing, at least in the short term. However, for certain sponsors with strong equity backing, where a high percentage of equity is available to be contributed to individual projects, and where there are challenges or other commercial reasons for not procuring an offtake, a fully merchant-based project financing may still be attractive. 

    Whether this means we will see a growing number of merchant BESS project financings is unclear. The Australian Energy Market Operator (AEMO) forecasts energy storage capacity in the NEM will increase from approximately 2GW at the end of 2024 to nearly 7GW by the end of 2025.1 As more BESS projects come online over time, there may be fewer arbitrage and other similar revenue opportunities. 

    At least in the short term, we expect this may lead to certain sponsors and developers more closely exploring opportunities to raise debt against BESS projects that are fully merchant or that have substantial merchant exposure.

    Investment in BESS platforms and core components

    A growing trend is the investment in BESS-specific investment platforms. While only a limited number have come to market in Australia so far (including the recent ZEBRE BESS platform announced by ZEN Energy and HDRE), we have worked with a number of investors who are looking at opportunities in this space. Investors are drawn to the benefits of BESS projects described above and the potential to accelerate the growth of those benefits when they are aggregated on a portfolio basis.

    We have also seen increased investment interest in core BESS components, including:

    • the hardware—as rival technologies, focused on cost efficiency and safety, are emerging to challenge lithium-based batteries; and
    • the software—focusing in particular on storage and discharge optimisation.

    While the current focus from investors in these core BESS components appears to be on systems designed for the residential and commercial and industrial markets, the ambition for a number of these technologies is to scale up to the utility-scale BESS market.

    Commencement of the GO Scheme

    The Guarantee of Origin Scheme (the GO Scheme) is set to commence in 2025, bringing with it new tradeable certificates in the form of Renewable Energy Guarantee of Origin (REGO) certificates. Unlike large-scale generation certificates, REGOs will be able to be created by energy storage systems (such as batteries) where there is a ‘direct supply relationship’ with an eligible renewable energy facility.

    In addition, REGOs will be time-stamped, meaning they will record the hour of the day in which they were generated. This will allow temporal matching of electricity generation and consumption, and will likely drive a price differentiation between eg REGO certificates generated at 1pm when there is excess solar generation and 1am when renewable energy supply is scarce.

    The introduction of REGO certificates presents an interesting opportunity, and a potential new revenue source, for BESS projects.

    More information on the GO Scheme can be found in our previous Insight.

    Revenue implications from AEMO’s market interventions

    Under the National Electricity Rules, AEMO has powers to issue mandatory ‘directions’ to registered participants in the NEM in relation to the operation of their facilities. This is not uncommon, and is primarily used by the market operator to manage periods of volatility in the market and maintain the reliability standard. Participants are subsequently reimbursed for their compliance via a well-established compensation framework administered by AEMO.

    AEMO has indicated that it intends to use its directions power on battery operators to address the increasingly commonplace minimum system load issues— eg by directing an operator to fully discharge batteries early in the morning and to hold the batteries at minimum charge during the morning, with the direction lifted in the early afternoon.

    However, there are growing concerns that this directions compensation model is not fit for purpose for standalone batteries and other energy storage technologies. The financial model for a standalone BESS is particularly reliant on taking advantage of exactly these periods of financial volatility in the market, and AEMO’s directions compensation framework may not be appropriate in providing adequate financial redress for the opportunity cost that is lost by virtue of being required to comply with an AEMO direction.

    Following the AEMC’s ‘Review into electricity compensation frameworks’, the final report for which was published in December 2024 and can be found here, we expect there to be continued discussions on this issue, to ensure that BESS operators are fairly compensated for AEMO’s market interventions.

    Vanadium flow as an emerging alternative to lithium-ion?

    As the BESS market expands, we expect to see competing technologies emerge as alternatives to lithium-ion batteries. The WA Government recently announced $150 million of funding to develop a 50MW / 500MWh vanadium flow battery (VFB) in Kalgoorlie, which would be Australia’s largest VFB. While VFBs have been mooted for a number of years as a potential utility-scale alternative to lithium-ion batteries, the first (and largest) ‘commercial’ VFB in Australia (a 2MW / 8MWh battery) was only commissioned in mid-2023, as part of the Spencer Energy Project.

    The key roadblocks to the widespread adoption of utility-scale VFBs seem to be higher upfront costs compared with lithium-ion batteries (vanadium is heavily used in steel refining, which creates price and supply chain volatility), and lower roundtrip efficiency of around 70–85% (compared with 90–95% for lithium-ion batteries).

    Despite this, VFBs seemingly provide a number of commercial benefits compared with lithium-ion batteries. In particular, VFBs offer longer storage duration (between 8–12 hours), and the theoretical ability to discharge completely and for an unlimited number of times without significant degradation (providing a much longer and consistent asset life). Further, VFBs are said to be safer (and fire resistant), and storage capacity can be easily increased by adding more electrolyte. At scale and over time, these benefits could help drive a significantly lower LCOE. The WA Government’s funding may be the catalyst to cut upfront costs and kickstart VFBs as a leading alternative to lithium-ion batteries.

    The continuing evolution

    As we look ahead, it is clear that 2025 promises to be another exciting year for the BESS sector. We expect to see more diverse, and growing, opportunities for battery projects, including across construction contracting, revenue structures, project and portfolio-based financing, and M&A. 

    If you would like to hear more about what we’re seeing in the market, please contact any of the team members below.

    MIL OSI News –

    February 21, 2025
  • MIL-OSI USA: Shaheen Introduces Amendments to Budget Resolution that Would Protect Families and Businesses from Rising Prices, Keep Americans Safe and Lower Health Care Costs

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH), a top member of the U.S. Senate Appropriations and Armed Services Committees and Ranking Member of the U.S. Senate Foreign Relations Committee, will offer dozens of amendments to the budget resolution tonight that would help make health care more affordable, lower the costs of energy bills, protect American consumers and businesses from rising prices imposed by President Trump’s tariffs and keep Americans safe by enhancing military preparedness, strengthening our air traffic controller workforce and investing in the northern border. 

    “While some of my Republican colleagues seem set on using tonight’s process to carve out a path to give tax cuts to the wealthiest in the country on the backs of working Americans, I’m urging bipartisan cooperation on commonsense opportunities that would allow working families to keep more of their hard-earned money and enhance public safety,” said Shaheen. “We have a real opportunity to deliver lasting results for our constituents who are grappling with high costs—unfortunately, President Trump and Congressional Republicans are instead focusing on delivering a tax cut for the wealthiest while slashing programs millions rely on.” 

    Below is an overview of the dozens of amendments Senator Shaheen will offer for consideration tonight. 

    To help lower everyday costs, Shaheen will offer amendments that would: 

    • Support housing affordability by preventing construction cost increases due to tariffs and delays and expanding investment in housing development. 
    • Help households afford groceries, including preventing broad tariffs which would raise the price of food or cuts to food aid for families. 
    • Prevent funding cuts to child care or early childhood education programs helping New Hampshire families. 
    • Support affordable housing in disaster recovery by rebuilding with resilient and cost-effective methods, especially those that lower home insurance rates. 
    • Lower sugar prices for American businesses and consumers harmed by the U.S. sugar program. 

    To help make health care more affordable and accessible, Shaheen will offer amendments that would: 

    • Prioritize Affordable Care Act tax credits that give 22 million Americans access to affordable, quality health insurance. 
    • Ensure that Medicaid expansion programs aren’t eliminated by drastic cuts to federal funding, including New Hampshire’s Granite Advantage covering more than 60,000 Granite Staters. 
    • Ensure that patients suffering from diabetes do not face unnecessary barriers to care, including access to $35 insulin. 
    • Ensure hospitals and doctors working in rural areas can keep their doors open and continue providing lifesaving care for their patients. 
    • Ensure that our community health centers can continue to provide vital care to their patients. 

    To help enhance public safety and keep families secure, Shaheen will offer amendments that would: 

    • Make investments in the Air Traffic Controller workforce and overturn the reckless firing of hundreds of Federal Aviation Administration personnel critical to aviation safety. 
    • Improve cell service and communications for emergency services along the northern border. 
    • Ensure that DHS has the technology needed to monitor and defend the U.S.-Canada border against the flow of drugs and illegal migration. 
    • Raise pay for U.S. Bureau of Prisons correctional officers in New Hampshire and across the country. 
    • Preserve funding for programs that support survivors of sexual and domestic violence. 
    • Ensure local law enforcement agencies and communities are not left with the bill for unfunded federal mandates. 
    • Prioritize the deportation of undocumented individuals who pose threats to our national security or public safety. 
    • Ensure that increased funding for the U.S. Departments of Justice and Homeland Security is focused on stopping the flow of illegal drugs into the United States. 

    To help lower American households’ energy costs, Shaheen will offer amendments that would: 

    • Protect Americans from higher energy costs for gas, heating oil and propane due to broad tariffs. 
    • Protect bipartisan investments that lower energy costs, promote electric grid reliability and improve drinking water and wastewater infrastructure, including addressing PFAS contamination. 
    • Protect families, farmers and businesses from higher energy costs by ensuring energy saving and renewable energy projects funded by Congress continue. 
    • Prevent Congress from blocking state or local governments from updating their building codes to protect life and property, reduce losses from disasters or lower energy costs for families. 
    • Support energy efficient building construction and retrofits to lower energy costs and enhance electric grid reliability. 
    • Support resources that help make home heating more affordable, including energy assistance from the Low-Income Home Energy Assistance Program (LIHEAP) and weatherization. 

    To help bolster America’s national security and support American service members and their families, Shaheen will offer amendments that would: 

    • Support military service members, veterans and families, including by protecting family members who were recently fired from federal employment solely because they were new to a job. 
    • Replenish the defense industrial base ramping up to support Ukraine. 
    • Replenish the defense industrial base ramping up to support the defense of Taiwan. 
    • Ensure that the United States continues its commitments to NATO, which supports the collective defense of the United States. 
    • Resume U.S. foreign assistance that counters Chinese influence. 
    • Ensure that federal employees essential to national security are not impacted by the OMB buyout and federal hiring freeze memos. 
    • Require oversight over wasteful spending. 
    • Protect DoD’s policy that ensures service women receive the same coverage for contraception as civilian women. 
    • Ensure that service women, who are stationed in areas without access to reproductive care, through no fault of their own, can be reimbursed for the cost of travel. 
    • Ensure that U.S. farmers do not suffer economic harm due to the freeze on U.S. assistance. 
    • Protect U.S. small businesses and contractors from a pause on U.S. foreign assistance. 

    Additional amendments would: 

    • Prevent a reduction in postal service for rural America, including by preventing the closure of processing centers. 
    • Ensure that Americans are protected against fraud, price gouging and higher rental and housing prices caused by illegal price information sharing. 
    • Support funding to assist Afghan SIVs and refugee resettlement. 
    • Cut more than $40 billion in wasteful agriculture spending going to large corporate farm operations while preserving benefits to small family farms. 
    • Ensure strong funding for the Northern Border Regional Commission. 
    • Prevent adding $5 trillion of tax cuts to the national debt and raising interest rates when the Federal Government is already paying $1 trillion per year in interest. 
    • Support screening for Avian Flu both domestically and overseas. 

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI USA: Murray, Schrier Lead Letter to Energy Secretary on Trump and Musk’s Indiscriminate Firings at Bonneville Power Administration, Threatening PNW Energy Reliability and Increased Costs

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    ICYMI: Senator Murray on Trump Indiscriminately Firing Workers at Hanford and Bonneville Power Administration, Threatening Energy Security in Washington State

    ***FACT SHEET: Impact in Washington State of Trump and Musk’s Reckless Mass Layoffs***

    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, and Congresswoman Kim Schrier, M.D. (D, WA-08) led their colleagues in Washington’s Congressional delegation—U.S. Senator Maria Cantwell (D-WA) and Representatives Suzan DelBene (D, WA-01), Rick Larsen (D, WA-02), Emily Randall (D, WA-06), Pramila Jayapal (D, WA-07), Adam Smith (D, WA-09), and Marilyn Strickland D, WA-10),—in sending a letter to Department of Energy (DOE) Secretary Chris Wright laying out their grave concerns with Donald Trump and Elon Musk’s recent mass firings at the Bonneville Power Administration (BPA) and how these reckless layoffs threaten grid reliability for the people in Washington state.

    “Pursuant to President Trump’s Executive Order (EO) 14210, last week DOE implemented large scale, department-wide reductions in the workforce. At the Bonneville Power Administration, these have been nothing short of devastating, totaling nearly 20 percent of BPA’s total headcount. These public servants literally helped keep the lights on for tens of millions of Americans. Beyond harming BPA’s ability to address existing and future needs, these cuts immediately jeopardize the reliability of the Pacific Northwest’s electrical grid and severely hamper economic development in the region. Such significant reductions in BPA’s workforce will result in increased costs to consumers and delays to further economic investments in the Northwest,” the Members wrote.

    BPA provides 28 percent of the Pacific Northwest’s electric power, ensuring affordable electricity for more than 13 million people across Washington, Idaho, Oregon, and Western Montana. BPA owns and operates 75 percent of the Northwest’s high voltage electrical transmission system, amounting to over 15,000 miles of transmission lines—the services BPA provides support the entire Northwest. Importantly, BPA does not receive federal funding—Northwest ratepayers ensure that BPA is able to remain self-funded.

    Last week, Senator Murray raised the alarm immediately after hearing about mass firings at BPA—between employees who were fired, those whose job offers were rescinded, and those who took the “Fork in the Road offer,” we estimate that BPA is losing between 450 and 600 skilled workers as a result of Trump and Elon Musk’s attempts to gut the federal workforce. This includes everyone from electricians and engineers to dispatchers, lineworkers, cybersecurity experts, and so many other people who help keep the lights on in the Northwest. Again, these are positions funded by ratepayers.

    “Beyond those fired, hundreds of BPA employees opted in to OPM’s so-called ‘deferred resignation’ program, which will leave critical positions open without the ability to backfill easily. Both workers and ratepayers are now left without certainty on what funding will be used or when payments under this legally dubious program will begin. Encouraging resignation of these highly specialized workers alone risks grid reliability and stable rates in the region, draining BPA’s institutional knowledge with no solution to account for these additional vacancies,” the Members continued.

    “The EO also calls for further large-scale Reductions in Force (RIFs). There may also be further firings of probational employees. Additionally, the EO requires the hiring of ‘no more than one employee for every four employees that depart.’ BPA cannot afford to follow through on such directives. The EO states that workforce reductions ‘shall not apply to functions related to public safety’—ensuring the reliable provision of electricity is clearly a matter of public safety. As such, we call on you to continue to swiftly rescind the terminations of staff and reverse rescinded job offers at BPA, in acknowledgement of the critical role that these employees play ensuring grid reliability in the Northwest. It cannot be stated more plainly: this is a matter of life-and-death for millions of Americans,” the Members wrote.

    The Members concluded by asking Secretary Wright to rescind the terminations of BPA employees, reverse rescinded job offers, and “explain why BPA employees were not deemed necessary to meet public safety responsibilities and exempted from last weeks’ workforce reductions in the first place.”

    A PDF of the full letter is available HERE.

    Yesterday, Senator Murray released this fact sheet detailing Washington state impacts of Trump and Elon Musk’s reckless assault on the federal workforce, and late last week she immediately released a national fact sheet detailing how Trump and Musk’s mass firings at all manner of federal agencies will hurt families, veterans, small businesses, farmers, and so many others across the country who need a government that works for them. Senator Murray has spoken out repeatedly on the Senate floor against this administration’s attacks on federal workers, and recently sent an open letter to federal workers and a newsletter to her constituents in Washington state outlining her concerns with the administration’s so-called “Fork in the Road” offer. Senator Murray has also sent recent oversight letters demanding answers about indiscriminate staffing reductions across federal agencies including to HUD Secretary Scott Turner on reports of massive staff cuts at HUD, Interior Secretary Doug Burham on National Parks Service staffing cuts, and Acting USDA Secretary Gary Washington on the universal hiring pause for USDA firefighters, among others.

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI United Kingdom: Gaelic teaching hub announced

    Source: Scottish Government

    £200,000 funding for sports bus and accommodation.

    Sabhal Mòr Ostaig is to be a Gaelic hub in the new Centre for Teaching Excellence, Education Secretary Jenny Gilruth has announced during a visit to the college.

    The Cabinet Secretary met with staff at Sabhal Mòr Ostaig, the National Centre for Gaelic Language and Culture, during a visit to discuss the aims of the new Centre in providing opportunities for Gaelic teachers across the country.

    Ahead of Gaelic week which gets underway on Monday, Ms Gilruth met senior leadership, teachers and students, before attending the Sabhal Mòr Ostaig Annual Lecture.

    More than £100,000 of funding has been confirmed today to provide upgrades to accommodation at the college. Separate funding for Comann na Gàidhlig will also help provide a new minibus to support participation in Gaelic sports.

    Ms Gilruth also visited Broadford Primary to hear first hand from staff and pupils about the English and Gaelic education it provides, as well as plans for a new school and community hub at the site.

    The Education Secretary said:

    “Sabhal Mór Ostaig is internationally respected as the only Centre of Higher and Further Education in the world which provides its learning programmes entirely through the medium of Gaelic.

    “It has been a privilege to meet staff and students at the college to learn about the work here, including the Gaelic hub being developed for the Centre for Teaching Excellence

    “I was also hugely encouraged to hear about the great work being undertaken at Broadford Primary and to hear about their exciting plans for the new school.  

    “The Scottish Government is a strong supporter of Scotland’s indigenous languages and encourages bodies and communities to work together to support and promote Gaelic language and culture.”

    Shona Cormack, Head of Teacher Education at Sabhal Mòr Ostaig, said:

    “We are delighted to be working with our colleagues at the University of Glasgow to establish the Centre and to have Gaelic Education recognised as a core area in the new Centre’s work. We look forward to working with Gaelic teachers to identify priority areas for development and to provide access to professional learning based on the latest research that will positively impact teaching and learning in Gaelic classrooms across the country.”

    Background

    Sabhal Mòr Ostaig will work collaboratively on the Centre for Teaching Excellence with hosts, the University of Glasgow. The Cabinet Secretary’s visit to Sabhal Mòr Ostaig and Broadford Primary took place on Thursday 20 February.

    The Sabhal Mór Ostaig annual lecture this year was delivered by Alan Esslemont, Director General of Irish language channel TG4.

    The funding announced today comprises:

    • £109,657 for in capital funding for the Sabhal Mòr Ostaig estate, mainly in the student accommodation
    • £91,711 for Comann na Gàidhlig to provide a minibus for Gaelic sports, as well as outdoor equipment.

    Hub Teagaisg Gàidhlig air ainmeachadh

    Maoineachadh de £200,000 airson bus spòrs agus àite-còmhnaidh.

    Bidh Sabhal Mòr Ostaig mar hub Gàidhlig dha Ionad ùr airson Sàr-mhathais ann an Teagasg. Chaidh seo a chur an cèill le Rùnaire an Fhoghlaim is i a’ tadhal air a’ cholaiste.

    Choinnich Rùnaire a’ Chaibineit le luchd-obrach aig Sabhal Mòr Ostaig, an t-Ionad Nàiseanta airson Cànan agus Cultar na Gàidhlig, is i a’ tadhal gus còmhradh mu na h-amasan a bhiodh aig an Ionad ùr is e a’ toirt seachad chothroman do thidsearan Gàidhlig air feadh na dùthcha.

    Le Seachdain na Gàidhlig a’ tòiseachadh air Diluain, choinnich a’ BhCh. NicGilleRuaidh ri ceannardan, tidsearan agus oileanaich, mus robh i an làthair aig Òraid Bhliadhnail Shabhal Mòr Ostaig.

    Chaidh còrr air £100,000 de mhaoineachadh a dhearbhadh an-diugh gus àite-còmhnaidh na Colaiste ùrachadh. Thèid maoineachadh fa leth a thoirt seachad gus cuideachadh le bhith a’ frithealadh bus ùr tron urrainn daoine a dhol an sàs ann an spòrs Gàidhlig.

    Bha a’ BhCh. NicGilleRuaidh cuideachd a’ tadhal air Bun-sgoil an Àth Leathainn gus cluinntinn bho luchd-obrach is sgoilearan iad fhèin mun fhoghlam Bheurla is Ghàidhlig a bhios an sgoil a’ toirt seachad, a thuilleadh air planaichean airson sgoil ùr agus hub coimhearsnachd aig an làraich.

    Thuirt Rùnaire an Fhoghlaim:

    “Tha Sabhal Mòr Ostaig air spèis a choisinn gu h-eadar-nàiseanta mar an aon Ionad airson Foghlam Àrd-ìre is Leantainneach anns an t-saoghal a tha a’ toirt seachad am prògram ionnsachaidh gu tur tron Ghàidhlig.

    “’S e urram a tha air a bhith ann coinneachadh ri luchd-obrach agus oileanaich aig a’ cholaiste gus ionnsachadh mun obair an seo, na mheasg an hub Gàidhlig a thathar a leasachadh don Ionad airson Sàr-mhathais ann an Teagasg.

    “Bha mi cuideachd fìor air mo bhrosnachadh cluinntinn mun sàr obair a tha a’ leantainn aig Bun-sgoil an Àth Leathainn is a bhith a’ cluinntinn mu na planaichean misneachail aca airson na sgoile ùire.

    “Tha Riaghaltas na h-Alba gu làidir a’ cur taic ri cànain tùsanach na h-Alba is a’ brosnachadh bhuidhnean is coimhearsnachdan a bhith ag obair còmhla gus taic is adhartas a thoirt do chànan is cultar na Gàidhlig.”

    Thuirt Shona NicCarmaig, Stiùiriche Foghlam Thidsearan aig Sabhal Mòr Ostaig:

    “Tha sinn air ar dòigh a bhith ag obair còmla ri ar co-obraichean aig Oilthigh Ghlaschu gus an t-Ionad a stèidheachadh is gun tèid a’ Ghàidhlig aithneachadh mar phrìomh phàirt de dh’obair an Ionaid ùir. Tha sinn a’ dèanamh fiughar ri bhith ag obair le tidsearan Gàidhlig gus aithneachadh dè na prìomh chùisean a dh’fheumas a bhith air an leasachadh agus gus cothrom a thoirt dhaibh air ionnsachadh proifeiseanta a tha air fhiosrachadh leis an rannsachadh as ùire aig am bi deagh bhuaidh air teagasg agus ionnsachadh ann an seòmraichean-sgoile Gàidhlig air feadh na dùthcha.”  

    Cùl-fhiosrachadh

    Obraichidh Sabhal Mòr Ostaig ann an com-pàirt air an Ionad airson Sàr-mhathais ann an Teagasg còmhla ri prìomh bhuidhinn an ionaid, Oilthigh Ghlaschu. ’S ann air Diardaoin 20 Gearran a bha Rùnaire a’ Chaibineit a’ tadhal air Sabhal Mòr Ostaig agus Bun-sgoil an Àth Leathainn.

    A’ bhliadhna seo bha òraid bhliadhnail Shabhal Mòr Ostaig air a lìbhrigeadh le Ailean Esslemont, Stiùiriche Coitcheann na seanail Gaeilge, TG4.

    An lùib a’ mhaoineachadh a chaidh fhoillseachadh an-diugh tha:

    • £109,657 de mhaoin-chalpa airson oighreachd SMO, a’ chuid as motha airson àite-còmhnaidh nan oileanach
    • £91,711 do Chomunn na Gàidhlig gus bus a bhith aca airson spòrs Gàidhlig, agus cuideachd uidheamachd airson a’ bhlàr a-muigh

    MIL OSI United Kingdom –

    February 21, 2025
  • MIL-OSI Submissions: OPEC Fund and Indonesian AID strengthen development cooperation

    Source: OPEC Fund

    February 19, 2025: The OPEC Fund for International Development (OPEC Fund) and the Indonesian Agency for International Development (Indonesian AID) have signed a Memorandum of Understanding (MoU) that provides the basis for enhanced collaboration in key development areas such as climate action, food security, renewable energy, health and technical capacity building.

    The OPEC Fund and Indonesian AID will join forces on project co-financing as well as the identification and preparation of infrastructure, health and sustainable development projects, particularly in least developed countries and Small Island Developing States.

    The MoU was signed in Jakarta by OPEC Fund Vice President of Strategy Musab Alomar, on behalf of OPEC Fund President Abdulhamid Alkhalifa, and Indonesian AID Chief Executive Officer Tormarbulang Lumbantobing.

    OPEC Fund President Abdulhamid Alkhalifa said: “Indonesia is a founding member of the OPEC Fund and a dedicated supporter of the 2030 Agenda for Sustainable Development. Strengthening ties with OPEC Fund member country development agencies enhances our ability to deliver impactful solutions in food security, renewable energy and health in partner countries. Through our shared goals and collaboration we will increase impact and improve livelihoods, while driving progress toward the delivery of the Sustainable Development Goals.”

    Indonesian AID Chief Executive Officer, Tormarbulang Lumbantobing said: “As a newly developing organization, we are very pleased to collaborate with the OPEC Fund. We can learn a lot from the best practices of the OPEC Fund, especially in terms of project management. Collaboration in certain projects with the OPEC Fund will also further enhance the role of Indonesia AID in development in OPEC Fund partner countries.”

    The partnership builds on the OPEC Fund’s commitment to international cooperation and Indonesian AID’s dedication to global development.

    About the OPEC Fund

    The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed more than US$29 billion to development projects in over 125 countries with an estimated total project cost of more than US$200 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and AA+, Outlook Stable by S&P. Our vision is a world where sustainable development is a reality for all.

    About Indonesian AID

    The Indonesian Agency for International Development (Indonesian AID) is committed to strengthening global alliances and delivering impactful development programs that address critical challenges and promote sustainable solutions. As an institution dedicated to international cooperation, Indonesian AID plays a crucial role in advancing the Sustainable Development Goals (SDGs).

    MIL OSI – Submitted News –

    February 21, 2025
  • MIL-OSI New Zealand: Energy – CCUS announcements move New Zealand toward a lower emission future

    Source: Energy Resources Aotearoa

    Energy Resources Aotearoa welcomes the Government’s announcement on a Carbon Capture, Utilisation, and Storage (CCUS) framework that will enable businesses to benefit from storing carbon underground.
    CCUS projects are an essential technology for meeting our emissions goals. The Intergovernmental Panel on Climate Change has previously stated that CCUS is “unavoidable” for countries aiming to achieve net emission reduction targets.
    Energy Resources Aotearoa Chief Executive John Carnegie says that CCUS has considerable potential for reducing our emissions as New Zealand’s energy mix evolves and is encouraged to see the Government aiming to eliminate unnecessary duplication and overlap of regulatory requirements.
    “A clear, risk-based framework is essential to give firms interested in potential CCUS projects confidence in predictable regulatory settings. Having a framework now opens the door to the possibility that projects will get off the drawing board”
    “Many jurisdictions we look to for effective policy examples have already implemented supportive regulatory frameworks to manage CCUS. While we’re still navigating the learning curve, this technology provides substantial emissions reduction and economic growth potential.”
    Carnegie says that moves to enable a CCUS framework go hand-in-hand with government aspirations to secure our future gas supply.
    “These two things can’t be seen in isolation – without a strong supply of gas, New Zealand won’t be able to maximise the benefits of this technology or achieve secure and abundant energy for households and businesses.”
    Carnegie says that while the framework provides clarity for investors, a standalone permitting regime to govern CCUS would give them confidence investing in these long-term projects.
    CCUS will play a vital role in our journey toward net-zero emissions, and Carnegie says Energy Resources Aotearoa is committed to collaborating with the Government to help it thrive.
    “The Government’s second emissions reduction plan clearly outlines CCUS as a vital action required to meet the second and third emissions budgets. We look forward to collaborating with them to cut through red tape, get projects underway and secure our affordable energy future.”

    MIL OSI New Zealand News –

    February 21, 2025
  • MIL-OSI USA: Markey, Colleagues Blast Trump Admin. for Nuclear Security Worker Firings

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey

    Letter Text (PDF)

    ?Washington (February 20, 2025) – Senators Edward J. Markey (D-Mass.) along with Senators Peter Welch (D-Vt.), Elizabeth Warren (D-Mass.), Jacky Rosen (D-Nev.), Cory Booker (D-N.J.), Jeff Merkley (D-Ore.) and Congressman John Garamendi (CA-08), today wrote to Department of Energy (DOE) Secretary Chris Wright about the Department of Government Efficiency (DOGE) firing up to 350 staff members at the National Nuclear Security Administration (NNSA), jeopardizing the security of the U.S. nuclear stockpile, weakening our ability to detect and prevent threats to nuclear safety, and undermining U.S. nonproliferation commitments. Senators Markey and Merkley and Congressman Garamendi are co-chairs of the congressional Nuclear Weapons and Arms Control Working Group.

    In the letter, the lawmakers write, “According to press reports, these firings occurred because ‘the officials did not seem to know this agency oversees America’s nuclear weapons.’ The reckless decision to eliminate 350 positions, without a clear national security justification, raises serious concerns about the Department of Energy’s (DOE) commitment to this core mission. DOE has struggled to rehire some of these employees ‘because they didn’t have their new contact information.’ This series of events calls into further question DOGE’s competence to carry out its self-assigned task.”

    The lawmakers continue, “Although you and DOGE may find it administratively convenient to fire probationary employees, these particular employees were not inexperienced new hires to the federal government.” 

    The lawmakers request responses to questions that include:

    • What was the rationale for the reduction in staff at the NNSA? 
    • Who determined that NNSA had too many employees and why?
    •  What is the administration’s broader strategy for responsibly ensuring adequate staffing at the NNSA that guarantees strong and effective oversight of the nuclear arsenal? 
    • If NNSA employees are not exempt, will the decision on whether to accept employees’ resignations include an assessment of how the loss of the employee in that role would impact DOE capabilities? If so, how will you make that assessment? 
    • What, if any, security assessments were conducted before terminating these 350 NNSA employees? 
    • What is the administration’s broader strategy for responsibly ensuring adequate staffing at the NNSA that guarantees strong and effective oversight of the nuclear arsenal? 
    • Which employees have been rehired and how many have accepted the offer to come back? 
    • What steps are DOE and NNSA taking to prevent unauthorized access to classified systems by DOGE members?

    On February 12, 2025, Senator Markey and Congressman Don Beyer (VA-08), a House co-chair of the Nuclear Weapons and Arms Control Working Group, wrote to Energy Secretary Wright regarding their concerns that Elon Musk’s DOGE had been granted access to DOE, which oversees the NNSA and the nation’s most sensitive nuclear weapons secrets. 

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI New Zealand: Carbon capture one step closer

    Source: New Zealand Government

    The Government has made key decisions on a Carbon Capture, Utilisation, and Storage (CCUS) framework to enable businesses to benefit from storing carbon underground will support New Zealand’s businesses to continue operating while reducing net carbon emissions, Energy and Climate Change Minister Simon Watts says.
    “Economic growth is a key focus for this Government, and we want the energy sector to be the engine for our economy – driving electrification and unlocking economic growth,” Mr Watts says.
    “The Government is committed to removing regulatory barriers to enable the supply of abundant, affordable energy to power our homes and businesses – and to reduce net carbon emissions.”
    The Government has made decisions on the key elements of a CCUS framework, designed to enable carbon capture and storage in New Zealand, with legislation expected to be introduced this year.
    “Under our CCUS framework, businesses that capture and store CO2   will be rewarded through the Emissions Trading Scheme (ETS), our Government’s key tool to reducing net emissions. This will help reduce emissions obligations for New Zealand businesses as we progress towards a low-emissions economy,” Mr Watts says.
    “By making these decisions, we are aligning New Zealand with other countries that are successfully utilising CCUS to drive economic growth and attract investment. Our framework not only supports innovation but also provides a pathway for businesses to remain competitive while reducing net emissions.
    “Ensuring safe and effective storage of CO2 is critically important. That’s why our framework will require any CCUS project to undertake a thorough assessment of storage site suitability and proposed operations, followed by ongoing monitoring.
    “CCUS is gaining momentum internationally as a way to reduce net emissions and support economic growth. In New Zealand, this innovative approach has significant untapped potential of capturing CO2 emissions that would not otherwise benefit Kiwis to create valuable products and materials.
    “Our Government’s second emissions reduction plan, which was released at the end of last year, highlighted carbon capture and storage as a key tool to meeting the second and third emissions budgets.”

    MIL OSI New Zealand News –

    February 21, 2025
  • MIL-OSI USA: Hartford, Stamford Campuses Open ‘Innovate Labs’ Where Technology, Fun, and New Skills Connect

    Source: US State of Connecticut

    Freshman Barbara Hawke Lopez was the captain of her high school robotics team and enjoys coding and emerging technology.

    When she discovered that Innovate Labs was opening a facility on the UConn Stamford campus, with hands-on learning opportunities in emerging technology, she was intrigued.

    Today, Hawke Lopez is employed as a lab assistant there, teaching her peers how to experiment with new technology, and helping them develop their confidence in the automation of the future.

    “When you come into the lab, there is almost always someone playing a game using virtual reality,’’ said Hawke Lopez, who is studying journalism and cognitive science. “Other students come in to 3D print everything from pop culture-inspired objects to fidget-spinner toys. There’s a good mix of activities.’’

    “The lab is very new-user friendly and there are always two or three people there to help you if you get stuck,’’ she said. The lab, which opened in September 2024, is located in Room 310.
    “People are excited when they discover it, and I think it is a good addition to our campus and the overall business environment. It is helping student develop confidence and career skills,’’ she said.

    Hartford Campus Debuted Lab Last Week

    But Stamford students aren’t the only ones with new experiences. Innovate Labs opened another facility in Hartford last week. This newest Lab can be found on the first floor of the Graduate Business Learning Center in Hartford, at 100 Constitution Plaza. All students, regardless of major, as well as faculty and staff are welcome to explore the Lab.

    On the opening day, Feb. 10, student workers demonstrated 3D pens, VR headsets and circuitry that can track a user’s heart rate. The event drew students and staff from the GBLC, Storrs, and the nearby Hartford Times Building.

    A festive balloon arch welcomed students and faculty to the first-floor center that includes stations featuring the Internet of Things (IoT) devices, virtual and augmented reality, 3D printing and modeling, voice and smart technology, drones, robotic, and circuitry and sensors. Both the Stamford and Hartford Innovate Labs are modeled after the original lab located in the School of Business in Storrs.

    Lucy Ledesma, a junior majoring in the dual-degree MEM program and a Lab Outreach Specialist in Storrs, traveled to Hartford to demonstrate the technology. “I think it’s great that students on other campuses are getting to have the experiences we have,’’ she said.

    Innovate Labs Tech Manager, Sophia Hatzis, a sophomore majoring in sociology and mechanical engineering, said initially some students are reluctant to experiment.

    “At first they might not know how to get started, but there is always someone there to walk them through it and build their confidence to try more advanced things,’’ she said.

    Bringing Energy and Excitement to Campus

    Innovate Labs is part of the Digital Frontiers Initiative (DFI) at the School of Business. The program bridges academia and industry through cutting-edge research, innovation, and partnerships. DFI operates under the umbrella of the Connecticut Information Technology Institute at UConn.

    “Our goal is to create an opportunity for students to develop new skills that will foster the next generation of learners, leaders, entrepreneurs and innovators,’’ said OPIM professor Jon Moore, who is also the Executive Director of DFI. He created and oversees all three labs.

    The original Innovate Lab opened in Storrs eight years ago, after some recent graduates said they would have liked more emerging technology skills as they entered the workforce.

    “People can start where they are comfortable,’’ Moore said. “We encourage people to push themselves out of their comfort zone but also to acquire skills that match their career interests. Not only is it valuable but keeps students on campus and engaged but it brings energy and excitement to campus.’’

    OPIM professor Wei Chen, the Academic Director of the DFI, agreed.

    “The Innovate Labs are a vibrant space where students can explore emerging technologies and bring their ideas to life,’’ he said. “It’s an incredible opportunity for them to experiment, collaborate, and gain hands-on experience with the latest tools shaping the future.’’

    Students Can Advance to Local Makerspaces

    Another advantage of the regional Innovate Labs is that once students get comfortable with the technology there, they can expand their ideas at nearby makerspaces.

    Stamford students have access to GE’s CoCreate, a 65,000-square-foot maker space, that welcomes everyone from chefs to designers to contractors or homeowners to use their equipment and explore the “community playground.’’

    The Digital Frontiers Initiative is in conversation with GE CoCreate about joint workshops, events, and projects.

    In Hartford, DFI is building a dynamic relationship with MakerSpace CT, which is just a short walk from both Hartford campuses. Students have an opportunity to earn three months of free membership to this space by participating in a one of Innovate Labs’ non-credit programs, Innovate2Create. This program is designed to help students turn their idea into a marketable prototype. The nine-week program includes guest speakers from MakerspaceCT, and will conclude with a pitch presentation there in the spring.

    For UConn students who are interested, Innovate Labs offer employment opportunities, with students having the choice of working on the tech team (which oversees inventory and learning), the outreach team (which leads workshops, clubs, and classes), or the marketing team. Lab workers from all three campuses collaborate, and live-feed cameras allow them to share ideas, solve problems, or just say hello from across the state.

    Moore is now working towards offering workshops for non-UConn students, particularly elementary, middle and high school students in the area.

    If you would like to learn more about DFI, or take a guided tour of one of the Innovate Labs, please contact Katherine Lorange at Katherine.Lorange@uconn.edu.

    MIL OSI USA News –

    February 21, 2025
  • MIL-OSI Economics: Media release: Australian gas industry’s $105 billion boost to the economy – Australian Energy Producers

    Source: Australian Petroleum Production & Exploration Association

    Headline: Media release: Australian gas industry’s $105 billion boost to the economy – Australian Energy Producers

    New economic analysis by KPMG reaffirms the critical role of the Australian gas industry in powering the national economy, contributing $105 billion annually and supporting 215,000 jobs.

    The ‘Economic Contribution of the Gas Industry’ report, commissioned by Australian Energy Producers, provides a snapshot of the gas industry’s economic contribution using the latest Australian Bureau of Statistics data.

    The analysis shows the Australian gas industry is the most productive sector in Australia, delivering $2.8 million in value-add to the economy per full time equivalent (FTE) worker. It also found the sector contributes $85 billion directly to the economy annually, which represents 3.7 per cent of Australia’s Gross Domestic Product (GDP).

    Australian Energy Producers Chief Executive Samantha McCulloch said the analysis underscored the importance of a strong Australian gas industry for a strong economy.

    “As well as having a critical role in Australia’s energy mix, natural gas is powering the Australian economy through high levels of employment and productivity, spending billions with Australian businesses, and delivering significant state and federal government revenue through taxes and royalties,” Ms McCulloch said.

    In addition to the estimated $17.1 billion paid in taxes and royalties to governments in 2023-‑24, the gas industry contributed $105 billion to Australia’s GDP and supported 215,000 ongoing jobs across the economy in 2021-22.

    The analysis also modelled the flow-on economic returns from additional private sector investment in gas projects, finding that a 5 per cent increase in Australia’s gas production would boost the Australian economy by $10.5 billion and add 1,150 jobs.

    “Supporting private sector investment in new gas projects is not only essential for our energy security, it also delivers significant economic benefits through the economy and a further uplift in Australia’s lagging productivity.

    “With Australia facing gas shortfalls as soon as 2027 on the east coast, removing barriers to gas supply and encouraging investment in new gas projects should be a national priority,” Ms McCulloch said.

    The analysis also found that the industry purchased $33 billion in goods and services from Australian businesses and paid $6 billion in employee salaries.

    Read the KPMG report at energyproducers.au/economiccontribution

    Media Contact: 0434 631 511

    MIL OSI Economics –

    February 21, 2025
  • MIL-OSI: Targa Resources Corp. Announces Form 10-K Available

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Feb. 20, 2025 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“TRGP” or the “Company” or “Targa”) has filed its Form 10-K with the Securities and Exchange Commission (SEC) for the year ended December 31, 2024. The report may be accessed at www.sec.gov.

    The report is also available in the Investors section of the Company’s website at www.targaresources.com, or by going directly to https://www.targaresources.com/investors/financial-information/sec-filings. Hard copies of the report may be ordered free of charge by contacting the Company’s investor relations department by email at investorrelations@targaresources.com, or by phone at (713) 584-1133.

    About Targa Resources Corp.

    Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic midstream infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil.

    Targa is a FORTUNE 500 company and is included in the S&P 500.

    For more information, please visit the Company’s website at www.targaresources.com.

    Forward-Looking Statements

    Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements, including statements regarding our projected financial performance, capital spending and payment of future dividends. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the timing and success of our completion of capital projects and business development efforts, the expected growth of volumes on our systems, the impact of significant public health crises, commodity price volatility due to ongoing or new global conflicts, the impact of disruptions in the bank and capital markets, including those resulting from lack of access to liquidity for banking and financial services firms, and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

    Targa Investor Relations
    InvestorRelations@targaresources.com
    (713) 584-1133

    The MIL Network –

    February 21, 2025
  • MIL-OSI: Kayne Anderson Energy Infrastructure Fund Enters Into $175 Million Revolving Credit Facility

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Feb. 20, 2025 (GLOBE NEWSWIRE) — Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) has entered into a $175 million unsecured revolving credit facility (the “Credit Facility”). The Credit Facility matures on February 19, 2026 and replaces the Company’s $135 million credit facility that was scheduled to mature on February 20, 2025.

    The interest rate on outstanding borrowings under the Credit Facility may vary between SOFR plus 1.40% and SOFR plus 2.25%, depending on the Company’s asset coverage ratios. Based on the Company’s current asset coverage ratios, the interest rate is SOFR plus 1.40%. The Company will pay a commitment fee of 0.20% per annum on any unused amounts of the Credit Facility. As of February 20, 2025, the Company had $101 million borrowed under the Credit Facility.

    A copy of the credit agreement is available on the Company’s website at www.kaynefunds.com/kyn.

    Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The Company’s investment objective is to provide a high after-tax total return with an emphasis on making cash distributions to stockholders. KYN intends to achieve this objective by investing at least 80% of its total assets in securities of Energy Infrastructure Companies. See Glossary of Key Terms in the Company’s most recent quarterly report for a description of these investment categories and the meaning of capitalized terms.

    The Company pays cash distributions to common stockholders at a rate that may be adjusted from time to time. Distribution amounts are not guaranteed and may vary depending on a number of factors, including changes in portfolio holdings and market conditions. 

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or consider any investor’s specific objectives or circumstances. Before investing, please consult with your investment, tax, or legal adviser regarding your individual circumstances.

    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include but are not limited to changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the Company’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Company’s investment objectives will be attained.

    Contact investor relations at 877-657-3863 or cef@kayneanderson.com.

    The MIL Network –

    February 21, 2025
  • MIL-OSI: Viper Energy, Inc. Announces Leadership Transition Plan and Additional Updates to Executive Team

    Source: GlobeNewswire (MIL-OSI)

    • Travis D. Stice to transition from role as Chief Executive Officer
    • Kaes Van’t Hof, current President, will assume Chief Executive Officer role
    • Austen Gilfillian, current Vice President, has been promoted to President
    • Trevor Stoltz has been promoted to Vice President, Business Development
    • John Phillips has been promoted to Vice President, Land

    MIDLAND, Texas, Feb. 20, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. (NASDAQ: VNOM) (“Viper” or the “Company”) today announced its leadership transition plan, representing the culmination of a thorough succession planning process and ensuring a seamless leadership transition that will position the Company for continued long term outperformance. Travis D. Stice will transition from his role as Chief Executive Officer, effective immediately. Kaes Van’t Hof, current President of the Company, will succeed Mr. Stice as Chief Executive Officer. Austen Gilfillian, current Vice President of Viper, will assume the role of President, also effective immediately.

    “On behalf of the Board of Directors, I would like to thank and congratulate Travis for his leadership over the last ten years at Viper. The Viper IPO in 2014 was a watershed moment for the minerals market and is a testament to Travis’ vision,” stated Steven E. West, Chairman of the Board of Directors of Viper.

    Mr. West continued “The Board looks forward to Travis’ continued contribution to the success of the Company through his position on the Board and his countless strong relationships in the mineral space in the Permian Basin. In addition, the Board remains extremely excited about Viper’s future as Kaes and Austen have worked to build out a strong, dedicated executive team.”

    “It has been an honor to represent Viper as CEO over the last ten plus years,” said Mr. Stice. “Viper is a truly unique business model that established credibility with the market in a differentiated way from the start. The momentum at Viper today is very strong, its future is bright, and I look forward to supporting the Company through my position on the Board.”

    Regarding Mr. Van’t Hof’s appointment, Mr. Stice noted, “Kaes has been a critical contributor to Viper’s success as President of the Company. The Viper Board of Directors is fully confident that Kaes, together with the support of Austen and the growing Viper management team, will continue to drive future success at Viper as he assumes the CEO role.”

    “It is an honor to move into this position at Viper. Since its IPO in 2014, Viper has been a leader and category killer in its space, a testament to the vision and successful execution of what was then a new and exciting business model. Travis’ leadership helped drive Viper’s growth to where the Company is today. I look forward to continuing to solidify our position as the leader in the public mineral and royalties space while maintaining the visible competitive advantage of the relationship with Diamondback,” stated Mr. Van’t Hof.

    Mr. Van’t Hof continued “I am also extremely excited to announce Austen’s promotion to President. Austen has proven leadership skills and has developed and implemented a business strategy that has led to significant growth and outperformance at Viper, a trend we expect to continue. The Viper management team continues to be built out as we prepare for future growth through consolidation of the highly fragmented minerals market.”

    About Viper Energy, Inc.

    Viper is a publicly traded Delaware corporation that owns and acquires mineral and royalty interests in oil and natural gas properties primarily in the Permian Basin.

    Cautionary Note Regarding Forward-Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Viper’s future leadership, performance, prospects, success and strategy are forward-looking statements. When used in this news release or otherwise by Viper, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Viper are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Viper believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Viper’s control. Accordingly, forward-looking statements are not guarantees of future performance and Viper’s actual outcomes could differ materially from what Viper has expressed in its forward-looking statements. Information concerning these risks and uncertainties and other factors can be found in Viper’s filings with the U.S. Securities and Exchange Commission (“SEC”), including its reports on Forms 10-K, 10-Q and 8-K, each of which can be obtained free of charge on the SEC’s web site at http://www.sec.gov. Viper undertakes no obligation to update or revise any forward-looking statement unless required by applicable law.

    Investor Contact:
    Chip Seale
    +1 432.247.6218
    cseale@viperenergy.com

    The MIL Network –

    February 21, 2025
  • MIL-OSI: Diamondback Energy, Inc. Announces Leadership Transition Plan and Additional Updates to Executive Team and Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    • Travis D. Stice to step down as Chief Executive Officer, effective as of the Company’s 2025 Annual Meeting of Stockholders; will remain as Executive Chairman through the Company’s 2026 Annual Meeting of Stockholders
    • Kaes Van’t Hof, current President, will assume Chief Executive Officer role and will join the Board of Directors effective as of the Company’s 2025 Annual Meeting of Stockholders
    • Jere W. Thompson III, current Executive Vice President of Strategy and Corporate Development, has been promoted to Executive Vice President and Chief Financial Officer, effective today
    • David L. Houston to retire from the Board of Directors at the Company’s 2025 Annual Meeting of Stockholders

    MIDLAND, Texas, Feb. 20, 2025 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced its leadership transition plan, representing the culmination of a thorough succession planning process that will position the Company for continued long term outperformance. Travis D. Stice, who has led Diamondback as Chief Executive Officer since January 2012 and joined the Board of Directors in November 2012 following the Company’s initial public offering, intends to step down as Chief Executive Officer effective as of the Company’s 2025 Annual Meeting of Stockholders. At that time, Mr. Stice will transition from Chief Executive Officer to Executive Chairman of the Board, and Kaes Van’t Hof, current President of the Company, will succeed Mr. Stice as Chief Executive Officer and will join the Board of Directors. Effective today, Jere Thompson, current Executive Vice President of Strategy and Corporate Development, will assume the role of Executive Vice President and Chief Financial Officer.

    “On behalf of the Board of Directors, I would like to thank and congratulate Travis for his leadership over the last 14 years. His hard work, dedication and commitment to Diamondback grew an unknown, small-cap oil producer in 2012 into one of the largest oil and gas companies in North America. His accomplishments during his tenure exceed anything that can be explained by words on a page and go well beyond the industry-leading performance of the stock price,” stated Melanie M. Trent, Lead Independent Director.

    Ms. Trent continued “The Board looks forward to Travis’ contribution in his new role as Executive Chairman, ensuring a seamless leadership transition and a continued, consistent voice in the boardroom.”

    “The past 14 years have been immensely rewarding, and it has been a true honor to represent the dedicated employees who have transformed Diamondback into the remarkable company it is today,” said Mr. Stice. “Transitioning into my new role as Executive Chairman will allow me to remain actively engaged with the Board of Directors and contribute to the continued strategic development of our organization.”

    Regarding Mr. Van’t Hof’s appointment, Mr. Stice noted, “Kaes has earned the opportunity to lead us into a future that is brighter than ever before. The Board of Directors unanimously and wholeheartedly support him as he steps into this pivotal role and continues to build on our legacy of success.”

    “I am incredibly honored and humbled by the vote of confidence from Travis and the Board to assume the CEO role at Diamondback. Over the last nine years, I have had a front row seat to watch and learn from one of the best to ever do it in our industry’s history. What Diamondback has built in a short period of time is very special, and nearly impossible to replicate. While we don’t spend a lot of time looking in the rear-view mirror, the playbook for the next decade of success at Diamondback will look a lot like the last decade – an acquire and exploit strategy based on best-in-class execution, low-cost operations and transparency,” stated Mr. Van’t Hof.

    Mr. Van’t Hof continued “I am also very excited to announce Jere’s promotion to CFO. He has dedicated himself to learning all facets of our business in various roles over the last few years, has a strategic financial mind, and will continue to execute on Diamondback’s differentiated capital allocation and financial strategy.”

    Diamondback also announced today that David L. Houston, who has been a member of the Board of Directors since the Company’s initial public offering and who currently serves on the Company’s Audit Committee and Safety, Sustainability and Corporate Responsibility Committee, informed the Company of his decision to retire as a director when his existing term concludes immediately after the 2025 Annual Meeting of Stockholders.

    “David has been with Diamondback since the beginning, helping us grow into the Company we are today. He has been instrumental in supporting our growth, financial strategy, and success. David’s contributions are many, and we wish him all the best in his future endeavors,” stated Mr. Stice.

    About Diamondback Energy, Inc.

    Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves primarily in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com.

    Cautionary Note Regarding Forward-Looking Statements

    This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Diamondback’s future leadership, performance, prospects, success and strategy are forward-looking statements. When used in this news release or otherwise by Diamondback, the words “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “model,” “outlook,” “plan,” “positioned,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions (including the negative of such terms) as they relate to Diamondback are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Diamondback believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Diamondback’s control. Accordingly, forward-looking statements are not guarantees of future performance and Diamondback’s actual outcomes could differ materially from what Diamondback has expressed in its forward-looking statements. Information concerning these risks and uncertainties and other factors can be found in Diamondback’s filings with the U.S. Securities and Exchange Commission (“SEC”), including its reports on Forms 10-K, 10-Q and 8-K, each of which can be obtained free of charge on the SEC’s web site at http://www.sec.gov. Diamondback undertakes no obligation to update or revise any forward-looking statement unless required by applicable law.

    Investor Contact:
    Adam Lawlis
    +1 432.221.7467
    alawlis@diamondbackenergy.com

    The MIL Network –

    February 21, 2025
  • MIL-OSI USA: In Memoriam: Pierre Morel [1933–2024]

    Source: NASA

    Pierre Morel, the first director of the World Climate Research Programme (WCRP) and founding member of WCRP’s Global Energy and Water Exchanges (GEWEX) Core project, died on December 10, 2024.
    Pierre began his research as a theoretical physicist. His doctoral thesis examined the existence and properties of a condensed superfluid state of liquid Helium 3 at very low temperature. He lectured on basic physics, geophysical fluid dynamics, and climate science. As his career progressed, he focused his research on studying the circulation of the atmosphere. He was devoted to the development of numerical modelling of atmospheric flow that laid the groundwork for the study of climatology.
    Pierre’s work played an integral role in the development of tools used to study the atmosphere, many of which are still active today. Examples include Project Éole – an experimental wind energy plant conceived in the 1980s and created in Quebec, Canada that closed down in 1993; the ARGOS satellite, a collaboration between the Centre National d’Études Spatiale (CNES) [French Space Agency], National Oceanic and Atmospheric Administration (NOAA), and NASA, to collect and relay meteorological and oceanographic data around the world that launched in 1978; the Search and Rescue Satellite Aided Tracking (SARSAT) system, which was developed by the U.S. – specifically NOAA, NASA, and the U.S. Coast Guard and Air Force – Canada, and France, with the first satellite launch in 1982; and the European Organization for the Exploitation of Meteorological Satellites’ METEOSAT series of geostationary satellites, which launched in 1977 and remain active today. The launch of Meteosat–12 in 2022 was the first METEOSAT Third Generation (MTG) launch.
    Early in his career, Pierre was the director of the French Laboratoire de Météorologie Dynamique (LMD) before he became the director of the Centre National d’Études Spatiales (CNES). In 1980 he became the first chairman of the WCRP, where he steered a broad interdisciplinary research program in global climate and Earth system science that involved the participation of atmospheric, oceanic, hydrological, and polar scientists worldwide. Pierre was later in charge of planetary programs at NASA and was involved in discussions about the future of NASA’s Earth Observing System (EOS) in the mid-to-late 1990s. As an example, the Earth Observer article, “Minutes Of The Fourteenth Earth Science Enterprise/Earth Observing System (ESE/EOS) Investigators Working Group Meeting,” includes a summary of a presentation Pierre gave that focused on flight mission planning for the EOS “second series,” which was NASA’s plan at the time although ultimately not pursued, with the “first series” (i.e., Terra, Aqua, Aura) enduring much longer than anticipated.
    Pierre was the recipient of the 2008 Alfred Wegener Medal & Honorary Membership for his outstanding contributions to geophysical fluid dynamics, his leadership in the development of climate research, and the applications of space observation to meteorology and the Earth system science.

    MIL OSI USA News –

    February 21, 2025
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Twenty Twenty-Five

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