U.S. announces $38M to address energy disruption, transmission network

The Department of Energy announced a fund of $38 million from the economic stimulus package to all 50 states for emergency preparedness plans in case of energy supply disruptions in the country and to address the integration of smart grid technologies and clean energy sources into the transmission network.

Crude oil settles above $70 on economy, higher demand

Crude oil futures settled at $70.16 a barrel at 2:44 p.m. on the New York Mercantile Exchange Wednesday, rising for the first time in five days. Prices reacted to a Fed report that the economy is leveling out and a report from the International Energy Agency that oil demand will improve this year.

First offshore wind farm in Germany kicks off

Alpha Venture, the first offshore wind farm in Germany, started operations of its first three turbines, a spokesman for utility backed company company DOTI (Deutsche Offshore Testfeld und Infrastruktur) told Reuters. The farm has a total of 12 turbines and is expected to begin operating all of them by the end of the year. $355.35 million have been invested in this project, according to the Wind Energy Business Review.