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Exxon Threatens to Take Billions of Dollars in Climate Investment Out of the EU
Exxon Threatens to Take Billions of Dollars in Climate Investment Out of the EU Exxon has warned the European Union that it will leave and take billions of dollars in climate investment with it unless Brussels makes it easier to spend those billions on transition-related projects. The Financial Times cited the company today as saying that there […]
Watchdog Has Grim Winter Warning: There May Be Blackouts
Watchdog Has Grim Winter Warning: There May Be Blackouts North American Reliability Corp: As much as two-thirds of the United States could experience blackouts in peak winter weather. Earlier this year, NERC issued a blackout warning for some parts of the U.S. over the summer, citing extreme temperatures. The regulator points to the lack of […]
Europe’s Energy Troubles Continue: Hydro And Nuclear Output Declining
Europe’s Energy Troubles Continue: Hydro And Nuclear Output Declining Europe’s hydro and nuclear output is declining, leading to mopre energy troubles. Renewables are struggling to fill the gap as wind and solar output increase. The EU may require increased LNG imports from the US to meet energy demands. Last year, Europe was on the brink […]
Netherlands To Shut Down Europe’s Largest Gas Field
Netherlands To Shut Down Europe’s Largest Gas Field The Dutch government plans to close the Groningen gas field this year despite Europe’s precarious supply position. Groningen is the largest gas field in Europe. The field is dangerous, a government official from the Hague told the Financial Times, and the government has no plans to boost production from […]
Canadian Banks Slammed For Continued Fossil Fuel Investments
Canadian Banks Slammed For Continued Fossil Fuel Investments Canadian banks are receiving backlash from investors for their continued investments in fossil fuels. All Canadian banks were revealed to have increased their exposure to fossil fuels between 2020 and 2021, by between 25 percent—TD and BMO—and 132 percent for CIBC. The report is the latest example […]
How Europe’s Energy Crisis Could Turn Into A Food Crisis
How Europe’s Energy Crisis Could Turn Into A Food Crisis Runaway energy inflation has taken a toll on European industry, but another threat is looming. Europe’s two biggest fertilizer suppliers, Russia and Belarus have retaliated against European sanctions by cutting off fertilizer exports. The fact remains that the global food chain, especially its European links, […]
Europe May See Forced De-Industrialization As Result Of Energy Crisis
Europe May See Forced De-Industrialization As Result Of Energy Crisis European industries including ferroalloys, fertilizer plants and specialty chemicals are shutting down as a result of the ongoing energy crisis. Certain industries may not come back, even if the energy crisis eases. An increasingly tight regulatory environment is another reason for de-industrialization in Europe. The […]
Energy Bills In Europe Are 90% Higher Than Last Year
Energy Bills In Europe Are 90% Higher Than Last Year Electricity and gas prices are soaring across Europe, with bills close to double from last year in most European capitals, according to new data from the Household Energy Price Index—a monthly tracker of energy prices for households across 33 European capitals, including the 27 EU member […]
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. […]
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 […]
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 […]
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 […]
IEA: Europe Should Prepare For Complete Russian Gas Shutdown
IEA: Europe Should Prepare For Complete Russian Gas Shutdown IEA chief Birol said that Europe should prepare for a complete suspension of Russian gas supplies. Birol advised European governments to keep nuclear power stations running and take other contingency measures. Germany, Austria, and the Netherlands are restarting coal power plants. Europe should prepare for a […]
Russia’s Oil Output Is Plummeting, And It May Never Recover
Russia’s Oil Output Is Plummeting, And It May Never Recover Russia’s oil output is plummeting, and the decline is expected to worsen in May. OPEC recently warned that markets could see the loss of more than 7 million barrels per day of Russian oil and other liquids exports. With many global producers constrained in their […]
Rationing Looms As Diesel Crisis Goes Global
Rationing Looms As Diesel Crisis Goes Global Russian refiners cut processing rates of diesel fuel. Already tight diesel supply is getting even tighter. Vitol’s chief executive Hardy: diesel supply shortage could trigger rationing in Europe Earlier this week, Vitol’s chief Russell Hardy warned that a diesel shortage could trigger fuel rationing in Europe. Now, those […]
