“Russia’s gas supplies to Europe via the Nord Stream 1 pipeline will not resume in full until the ‘collective west’ lifts sanctions against Moscow over its invasion of Ukraine,” the Financial Times reports.
Europe Looks Set for Energy Rationing
“Energy rationing in Europe this winter is starting to look all but inevitable,” Bloomberg reports.
Gazprom Won’t Reopen Pipeline in 11th Hour Blow
“Russia’s Gazprom said its key gas pipeline to Europe won’t reopen as planned, moving the region a step closer to blackouts, rationing and a severe recession,” Bloomberg reports.
“It’s a massive blow to Europe, which is scrambling to cut its dependency on Russian gas before winter and has been waiting for Moscow’s next steps in the energy war. As the continent tries to implement measures to get through the winter, the indefinite closure of the pipeline is an escalation that threatens more economic turmoil.”
8 Russian Energy Executives Have Died Suddenly
“The death of Ravil Maganov, chairman of the Russian oil giant Lukoil, at a hospital in Moscow on Thursday appears to mark the eighth time this year that a Russian energy executive has died suddenly and under unusual circumstances,” CNBC reports.
“Maganov died after falling out of the window of the capital’s Central Clinical Hospital.”
U.N. Inspectors Head to Ukraine Nuclear Plant
“United Nations atomic-energy inspectors are heading to the Zaporizhzhia nuclear power plant amid fears that fighting in the area has damaged power lines and caused fires at the facility that could lead to nuclear catastrophe,” the Wall Street Journal reports.
“The inspection will begin on Wednesday and last until Saturday.”
New York Fuel Supply So Low It Triggered Warning
“The New York area is running so low on fuel that the Biden administration is warning of government action to address exports and suppliers are resorting to expensive US tankers to restock the region,” Bloomberg reports.
Nuclear Accident Narrowly Avoided in Ukraine
President Volodymyr Zelenskiy said the world narrowly avoided a radiation accident at the Zaporizhzhia nuclear station in Ukraine on Thursday after power was cut to the two remaining working reactors, Reuters reports.
Energy Costs Soar in Europe
“European power prices have soared so much that they’re now equal to more than $1,000 per barrel of oil,” Bloomberg reports.
“A gas crunch is the main driver — with Russian supply cuts pushing the fuel’s price to about 13 times its seasonal norm — while heat waves and drought boosted electricity demand and cut hydro and nuclear output. Coal-fired plants may offer little relief, since that commodity has hit a record.”
Wall Street Journal: “Saudi Arabia and some of its oil-producing allies have suggested cutting crude production, disappointing U.S. officials who predicted the kingdom would be instrumental in cooling the market after President Biden met Crown Prince Mohammed bin Salman for the first time in office.”
Gas Prices Surge In Europe
“Gas prices surged to new record highs yesterday as Russia prepared to halt supplies through a crucial pipeline to Europe,” the Times of London reports.
China Boosts Spending on Russian Energy
“China continues to expand its reliance on Russian energy, with purchases of crude, oil products, gas and coal rising to $35 billion since the war in Ukraine began, from about $20 billion a year earlier,” Bloomberg reports.
Clean Energy Loans Are ‘Sleeping Giant’ of Climate Bill
“Tucked into the Inflation Reduction Act that President Biden signed last week is a major expansion of federal loan programs that could help the fight against climate change by channeling more money to clean energy and converting plants that run on fossil fuels to nuclear or renewable energy,” the New York Times reports.
“The law authorizes as much as $350 billion in additional federal loans and loan guarantees for energy and automotive projects and businesses. The money, which will be disbursed by the Energy Department, is in addition to the more well-known provisions of the law that offer incentives for the likes of electric cars, solar panels, batteries and heat pumps.”
How the Climate Bill Helps the Oil and Gas Industry
Associated Press: “While the Inflation Reduction Act concentrates on clean energy incentives that could drastically reduce overall U.S. emissions, it also buoys oil and gas interests by mandating leasing of vast areas of public lands and off the nation’s coasts. And it locks renewables and fossil fuels together: If the Biden administration wants solar and wind on public lands, it must offer new oil and gas leases first.”
“As a result, U.S. oil and gas production and emissions from burning fuels could keep growing, according to some industry analysts and climate experts. With domestic demand sliding, that means more fossil fuels exported to growing foreign markets, including from the Gulf where pollution from oil and gas activity plagues many poor and minority communities.”
Germany to Keep Last Three Nuclear-Power Plants
“Germany plans to postpone the closure of the country’s last three nuclear power plants as it braces for a possible shortage of energy this winter after Russia throttled gas supplies to the country,” the Wall Street Journal reports.
Gas Prices Continue to Fall
“U.S. gasoline prices continue to fall, and they could keep falling, raising the possibility of gas below $3 a gallon in much of the country before the end of the year,” CNN reports.
Gas Prices Drop Below $4 per Gallon
The U.S. national average price of gas today has fallen back under the $4 mark to $3.99 per gallon for the first time since early March, according to GasBuddy.
Republicans Push Oil Industry to Denounce Climate Bill
“Congressional Republicans are ramping up pressure on the oil-and-gas industry to take an aggressive stance against the Democrats’ tax-and-climate bill, frustrated that the industry hasn’t done more to help Republicans defeat a cornerstone of President Biden’s agenda,” the Wall Street Journal reports.
Gas Prices Have Fallen for 49 Straight Days
“U.S. gas prices have fallen for seven straight weeks and are approaching an average price of $4 a gallon, easing the pain of record-high fuel costs amid shrinking global demand for oil,” the Wall Street Journal reports.
Democrats Cut Side Agreement with Manchin
“A side agreement reached between Democratic leadership and Sen. Joe Manchin (D-WV) as part of their broader deal on an economic package would overhaul the nation’s process for approving new energy projects, aiming to significantly expedite building across the country by removing bureaucratic obstacles,” the Washington Post reports.
“To win Manchin’s support for the climate, energy, and health care package, Democratic leaders agreed to attempt to advance separate legislation on expediting energy projects. These changes would fall outside the bounds of the Senate budget procedure the party is using to pass its budget bill, making it impossible for Democrats to approve that as part of their reconciliation bill. The new agreement would need GOP support before it could be signed into law.”
“The Democrats’ agreement would set new two-year limits, or maximum timelines, for environmental reviews for ‘major’ projects…. It would also aim to streamline the government process for deciding approvals by centralizing decision-making with one lead agency, the summary adds. The bill would also approve the Mountain Valley pipeline, which would transport Appalachian shale gas about 300 miles from West Virginia to Virginia and is a key priority of Manchin’s.”
- « Previous Page
- 1
- …
- 5
- 6
- 7
- 8
- 9
- …
- 26
- Next Page »