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Oil Prices Are Primed To Spike This Winter
Oil Prices Are Primed To Spike This Winter The EU embargo on seaborne Russian crude oil exports and the G7 price cap on Russian oil are both less than a month away. While a global economic slowdown and weak oil demand in China have capped prices, looming supply disruptions will likely send oil prices higher. […]
Austria Looks To Ban Oil And Coal Heaters From 2023
Austria Looks To Ban Oil And Coal Heaters From 2023 Austria’s government is looking to ban the use of new fossil fuel heaters as of next year and replace very old oil and coal heaters with climate-friendly options by 2025, Euractiv reports. Austria, like the other EU countries, aims to cut its reliance on Russian gas […]
IEA: The Current Energy Crisis Is Unprecedented
IEA: The Current Energy Crisis Is Unprecedented The executive director of the International Energy Agency has said that the world is currently in the middle of the first truly global energy crisis. Natural gas markets are particularly tight, and they are set to worsen next year as demand climbs and Europe struggles to replace Russian […]
Europe’s Energy Crisis May Not End Until 2024
Europe’s Energy Crisis May Not End Until 2024 The EU gas storage units are nearly full giving some relief to fears of shortages Challenges remain for the continent’s energy security as winter arrives The challenges will persist into the winter of 2023-24. The worst energy security fears of spring and summer as regards the coming […]
Can Europe Avoid A Worst-Case Energy Scenario This Winter?
Can Europe Avoid A Worst-Case Energy Scenario This Winter? European countries have done most things they feasibly could to fill gas storage units. Overall in the EU, gas storage was 92.37% full as of October 17. Weather will be the determining factor in how fast gas in storage would be depleted, so Europe hopes for […]
Europe’s Fuel Supply Fears Worsen As Major Refinery Malfunctions
Europe’s Fuel Supply Fears Worsen As Major Refinery Malfunctions The biggest refinery in Europe, Shell’s Pernis in the Netherlands, suffered a malfunction late on Wednesday, which could exacerbate an already worsening fuel supply situation in northwest Europe due to the strikes in France. Shell Pernis said late on Wednesday that “Due to a malfunction on one of […]
NOPEC Bill Won’t Bring Oil Prices Down
NOPEC Bill Won’t Bring Oil Prices Down Washington responded angrily to OPEC+’s decision to cut output. U.S. legislators have suggested the introduction of a bill called NOPEC in order to reduce OPEC’s power. NOPEC could send oil prices higher and end the dominance of the petrodollar. “Nobody f*cks with a Biden,” said the U.S. president, […]
Cash For Fracking: UK Households May Receive Payouts For Allowing Fracking
Cash For Fracking: UK Households May Receive Payouts For Allowing Fracking The UK lifted its long-running ban on fracking last month. UK households could soon receive cash payouts for allowing fracking in their neighborhoods. Drilling companies could soon go door to door in Britain, offering money in exchange for fracking support. UK households could soon […]
An Oil Supply Shock May Be Imminent
An Oil Supply Shock May Be Imminent Oil demand has remained resilient in the face of a multitude of challenges. OPEC+ has fallen behind more than 3.5 million bpd on its output goals. The DoE has no immediate plans to start refilling the SPR. The risk of a supply shock grows as China’s economy re-opens […]
The Global Water Crisis Could Crush The Energy Industry
The Global Water Crisis Could Crush The Energy Industry Water is growing more scarce due to climate change. Water scarcity could derail the green energy boom, and even hinder fossil fuel production. With rising concerns over water scarcity, mainly due to climate change, there are fears that the big transition to renewable energy will be […]
A Natural Gas Shortage Is Looming For The U.S.
A Natural Gas Shortage Is Looming For The U.S. As natural gas demand around the world breaks new records, U.S. shale producers are struggling to keep up with demand. While natural gas prices in the United States fell after a railway strike was averted last week, it looks likely that prices both at home and […]
Europe’s Natural Gas Shortage Could Trigger A Food Crisis
Europe’s Natural Gas Shortage Could Trigger A Food Crisis Energy crises impact nearly every aspect of our lives, and that is particularly true of food markets, with food production next year expected to be severely threatened. About 70 percent of the cost of fertilizer production is solely the price of natural gas, and as the […]
Czech PM Blames Russian Propaganda For Mass Protests In Pragu
Czech PM Blames Russian Propaganda For Mass Protests In Prague Czech Prime Minister Petr Fiala is blaming pro-Russian forces for mass demonstrations this weekend that saw tens of thousands of people protest against the government, the European Union and NATO amid soaring energy prices and inflation. The “Czechia First” demonstration saw 70,000 people gather to […]
Finland Braces For Rolling Blackouts This Winter
Finland Braces For Rolling Blackouts This Winter Finnish grid operator warns of rolling blackouts this winter. Gazprom stopped in May all gas deliveries to Finland. Norway is considering limiting its electricity exports. Finland should be prepared for possible power outages this winter in case of shortfalls in electricity supply, the Finnish grid operator said on Tuesday, in […]
Investors Have Now Spent $5 Billion Pursuing The “Holy Grail Of Energy”
Investors Have Now Spent $5 Billion Pursuing The “Holy Grail Of Energy” When it comes to nuclear fusion, the joke is that it is always just decades away, but that hasn’t stopped investors from spending $5 billion on chasing the holy grail of energy. In 2022, investors spent twice as much money as has ever […]
