Leaked papers reveal efforts to water down climate change commitments
... major changes to green policies, including over the role of fossil fuels, meat production as well as nuclear power. According to the leak, major fossil fuel producers Australia , Saudi Arabia and the Organization of Petroleum Exporting Countries OPEC are calling for the wording to be relaxed in the IPCC report. It claims Saudi Arabian officials want the UN to remove their conclusion which says: The focus of decarbonisation efforts in the energy systems sector needs to be on actively switching ...
Updated: 10/21/2021
Leaked documents show fossil fuel producers are lobbying to water down UN climate report
... Saudi Arabia , Iran and Japan are lobbying the Intergovernmental Panel on Climate Change IPCC to remove recommendations that the world needs to phase out fossil fuels. According to the documents, the Organization of the Petroleum Exporting Countries Opec, which includes countries such as Iraq , Kuwait , Libya , Libya , Nigeria , the United Arab Emirates and Venezuela , also backed weakening the report's recommendations on fossil fuels. Meanwhile, large meat and dairy producers such as Brazil ...
Updated: 10/21/2021
U.S. crude stockpiles drop below $83 a barrel for the first time in seven years
... than expected. See also: No Relief at the Pump in Sight With U.S. The market has tightened significantly recently as coal and natural gas shortages drive greater crude consumption, underpinning a rally in prices. Saudi Arabia said any extra oil from OPEC would do little to tame surging gas prices, predicting oil demand could rise by 500,000 to 600,000 barrels a day if the northern hemisphere s winter is colder than normal. U.S. gasoline stockpiles decreased for a second weekly draw by 5.37 million ...
Updated: 10/21/2021
Saudi Arabia says any extra oil from OPEC would do little to bring down gas prices
We know any extra oil from the OPEC cartel would do little to bring down surging natural gas prices.Casid Is Its Susp for a Carbon-Free Future, Tes' Is its Search for a carbon-free Future? - Saudi Arabia said any extra oil from the OPEC cartel would do little to bring down surging ...
Updated: 10/20/2021
Wall Street economist says inflation is likely to be transitory
... JPMorgan believes that concern is misplaced and that investors shouldn't be spooked. For instance, some experts have written about the possibility of stagflation, a situation of soaring inflation and flagging growth that was last experienced during the OPEC oil crisis in the 1970 s. Pandit shrugged their concerns. Stagflation is not a credible threat at this point because while inflation is very mild right now, we're beginning to see some of those monthly increases moderate a little bit and the inflation ...
Updated: 10/19/2021
Halliburton posts quarterly profit as oil prices rise
... oilfield services from oil and gas producers resuming drilling after crude prices hit pre-pandemic levels. Oil prices have rallied to multi-year highs with global crude prices rising in the Q3 ended Sept. 30 and about 63% so far this year, helped by OPEC 's decision to keep with its planned output increase rather than boosting it further in face of global concerns about energy supply. The price increase has also prompted some U.S. producers to increase drilling activity, with the U.S. rig count increasing ...
Updated: 10/19/2021
China's power shortages threaten global recovery from COVID 19
... renewables research. A global rebound from the depths of the Pandemic-induced slump has left all fossil fuel suppliers struggling to keep pace. Crude prices have shot up more than 60% this year, trading on Monday around $85 a barrel as members of the OPEC oil-producing alliance have struggled to pump as much as their latest production deal allows. Spanish companies are among the ones feeling the pinch from the energy price surge, adding other challenges that include a shortage of memory chips and ...
Updated: 10/19/2021
Oil futures rise above $82 a barrel as energy crunch ripples
... carbon-free future? The Biggest American Public Graveyard Is It Becoming a Park? None The futures market in New York surpassed $82 a barrel after rising 2.5% over the past three sessions. Russia is opting against sending more natural gas to Europe , while OPEC is failing to pump enough crude to meet its production target, exacerbating the supply crunch in energy markets. Nonetheless, one technical indicator is signaling that crude is overbought and deferred to correction. It looks like the oil market is ...
Updated: 10/19/2021
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