Federal Power Commission, Chevron Acquires Gulf Oil Assets & Japan Launches World’s First High-Temperature Gas Reactor
Plus Solar Power becomes the Cheapest Electricity source recorded in history.
Good day and welcome to This Day in Energy—a daily dose connecting energy history, innovation, and the financial pulse of the industry. Today is July 7, a date with deep roots in energy regulation, corporate reinvention, and scientific ambition.
Let’s plug into the moments that powered past generations—and preview the breakthroughs fueling the next.
⚖️ July 7, 1930 – U.S. Creates the Federal Power Commission
On July 7, 1930, amid a shifting industrial landscape, President Herbert Hoover signed legislation transforming a dormant wartime agency into the newly energized Federal Power Commission (FPC). Originally established to manage hydroelectric licensing, by 1930 the FPC was given authority to regulate interstate electricity and natural gas pricing.
The FPC became the predecessor of today’s Federal Energy Regulatory Commission (FERC)—the watchdog that oversees everything from power plant approvals to natural gas pipelines and electric transmission.
It marked the formal beginning of federal oversight in energy infrastructure—and the recognition that energy isn’t just local or regional, it’s a national system.
🔋 July 7, 1978 – DOE Approves Nation’s First Federal Energy Storage Demonstration
On this day in 1978, the Department of Energy greenlit funding for a new kind of infrastructure: compressed air energy storage (CAES) in Alabama. This pilot project led to the McIntosh Plant, one of the first large-scale energy storage facilities in the world—designed to compress air into underground salt caverns and release it to spin turbines during peak hours.
The system operated successfully for decades and proved that energy storage wasn’t just a science experiment—it was grid insurance.
Fast forward to 2025, and storage is now a $40 billion market, essential for integrating renewables and balancing intermittent supply with 24/7 demand.
⛽ July 7, 1986 – Chevron Acquires Gulf Oil Assets Post Breakup
Two years after its headline-making merger with Gulf Oil, Chevron Corporation finalized the divestiture and transfer of Gulf’s core refining and marketing assets on July 7, 1986. The transaction marked one of the largest oil mergers of the 20th century and helped Chevron emerge as a global supermajor.
The deal represented the end of the Seven Sisters era—the nickname for the seven major oil companies that dominated the global oil scene from the 1940s to the 1970s—and the rise of vertically integrated, investor-driven energy giants.
This July 7 event cemented Chevron’s footprint and became a case study in M&A as a strategic tool in energy expansion.
⚛️ July 7, 2001 – Japan Launches World’s First High-Temperature Gas Reactor
On this day, Japan powered up the HTTR—the High-Temperature Engineering Test Reactor, a next-generation nuclear facility designed to operate at over 950°C and enable applications beyond electricity, such as hydrogen production and industrial process heat.
It was the first full-scale demonstration of how nuclear energy could go beyond the grid and support decarbonized chemical and manufacturing sectors. As of 2025, high-temperature gas reactors (HTGRs) are gaining new momentum in the U.S., with SMR developers citing Japan’s early work as foundational.
🌞 July 7, 2020 – Solar Power Becomes the Cheapest Electricity Source in History
The International Energy Agency (IEA) published midyear research on July 7, 2020, confirming what developers had already seen in auction results: solar power had officially become the cheapest source of electricity in human history, beating out coal, gas, and even onshore wind in key regions.
Utility-scale solar hit record-low unsubsidized prices of under $0.015/kWh in markets from the Middle East to Latin America.
That July 7 moment wasn’t just an inflection point—it was a validation. It confirmed that clean power could also be cheap power, and it has permanently changed the global energy investment map.
🧪 Public-Private Research Spotlight: Project MELODY – Methane-to-Hydrogen with Carbon Capture
This month, Project MELODY entered the pilot phase in Bakersfield, California, combining expertise from Chevron, Caltech, and the DOE’s Office of Fossil Energy and Carbon Management. The mission? Turn methane into clean hydrogen while capturing nearly 100% of the CO₂ emissions in the process.
The proprietary process uses pyrolysis, converting natural gas into solid carbon and hydrogen—offering a non-combustion path for hydrogen fuel that could reuse existing gas infrastructure without greenhouse gases.
With public investment and oil-and-gas know-how, Project MELODY is writing a blueprint for low-carbon fuels in legacy energy regions.
📊 Quick Stat of the Day:
As of July 2025, over 63% of DOE-funded hydrogen pilots involve legacy oil and gas partners, marking a shift from competition to collaboration in the low-carbon fuel race.
👟 Everyday Energy Product: Gym Equipment
From rubberized resistance bands to plastic dumbbells to vinyl mats, much of your gym gear is derived from petrochemicals, plastics, and polymers—byproducts of oil and gas refining. Even your protein shaker bottle? Fossil-powered plastic.
🏞️ Community Spotlight: Williston, North Dakota
Once a poster child for the shale boom, Williston is now aiming for a diversified future anchored with Public Private Partnerships and state control. With direct air capture testbeds, flared gas-to-hydrogen prototypes, and injected CO₂ for enhanced oil recovery, Williston is showing how frontier energy towns can adapt economically, not just extract and expand.
Federal and private funding are converging in North Dakota to make Williston a real-world Public-Private sandbox—researching hydrocarbons, embracing climate goals, all with a deep state control.
🎙️ Final Thought
On this July 7, we see how far the industry has come—from federal regulation in 1930, to high-tech hydrogen in 2025. Through storage experiments, megamergers, reactor designs, and clean fuel breakthroughs, the common thread is clear:
Energy is never static. It’s strategic. And the winners aren’t just those who produce—it’s those who adapt.
This Day In Energy History is prepared and written by Jason Spiess. Spiess is an multi-award-winning journalist, entrepreneur, producer and content consultant. Spiess, who began working in the media at age 10, has over 35 years of media experience in broadcasting, journalism, reporting and principal ownership in media companies. Spiess is currently the host of several newsmagazine programs that air across a 22 radio stations and podcasts worldwide through podcast platforms, as well as a combined Substack and social media audience of over 500K followers.
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