Oil Price Global coal demand is set to rise by 1.4% this year and surpass a record-high level of 8.5 billion tons for the first time, the International Energy Agency (IEA) said on Friday. While coal demand in the United States and the EU is set for a 20% record decline this year, coal use in emerging economies “remains very strong, increasing by
Yahoo Finance UNITED NATIONS – Former New York City Mayor Michael Bloomberg announced on Wednesday he will pump $500 million into the next phase of his energy transition campaign, aiming to shut down “every last” coal plant in the United States and slash gas-fired capacity in half by 2030. The $500 million infusion into his decade-long Beyond Carbon initiative aims
Oil Price Surging coal prices amid high demand and a lack of Russian coal imports has pushed European traders toward private funds to finance coal shipments, traders and private fund managers tell Bloomberg. Coal prices in Europe have jumped since the EU enforced an embargo on imports of Russian coal in August. Faced with energy shortages and soaring natural gas prices, many
Nasdaq LONDON – BlackRock BLK.N, the world’s biggest asset manager, told a British parliamentary committee that it will not stop investing in coal, oil and gas, and that its role was not to “engineer a specific decarbonization outcome in the real economy.” The response was part of tens of statements from companies to the Environmental Audit Committee, which is
Yahoo VEENENDAAL, Netherlands – The budget-conscious Dutch, who enjoyed abundant cheap gas for half a century to heat their homes, are turning to more traditional heating methods as cold weather reaches the Netherlands. Sales of coal, wood and pellets for heating stoves have jumped as consumers seek cheaper energy alternatives to counter sky-rocketing gas bills in the wake of
US News DAR ES SALAAM – The sleepy Tanzanian port of Mtwara mainly dealt in cashew nuts until late last year. Now it bustles with vessels loading up with coal, as Russia’s invasion of Ukraine drives a worldwide race for the polluting fuel. Tanzania traditionally exports thermal coal only to neighbouring countries in east Africa; sending it further afield was
Yahoo News GUAYAMA, Puerto Rico – The U.S. Environmental Protection Agency plans to use new limits on traditional pollutants like ozone and coal ash to help encourage the retirement of the nation’s remaining coal-fired power plants, after the Supreme Court limited the agency’s ability to impose sweeping climate regulations, according to EPA chief Michael Regan. The approach reflects how the
CNBC Global energy investment is on course to jump by more than 8% in 2022 and hit $2.4 trillion, with a notable uptick for coal supply chains, but far more money will be required if climate-related goals are to be met, according to the International Energy Agency. Published Wednesday, the latest version of the IEA’s World Energy Investment report said clean energy
US News FRANKFURT/MILAN – Europe’s biggest Russian gas buyers raced to find alternative fuel supplies on Monday and could burn more coal to cope with reduced gas flows from Russia that threaten an energy crisis in winter if stores are not refilled. Germany, Italy, Austria and the Netherlands have all signalled that coal-fired power plants could help see the continent
Yahoo Finance WASHINGTON – U.S. coal producers are seeking to boost exports to cash in on soaring prices since Russia’s invasion of Ukraine but face big headwinds including shipping bottlenecks, labor shortages, and a dismal long-term outlook discouraging investments in new mines. The outlook means the United States, which holds the world’s biggest reserves of coal, is unlikely to play
Investing OSLOMEJ – Balkan nations in southeast Europe are turning to coal as they try to tackle a global surge in energy prices, raising fears among environmentalists that countries are rowing back on commitments to phase out the most polluting fossil fuel. North Macedonia, once a frontrunner in attracting renewable energy investors, said earlier this month it planned to open
Nasdaq BEIJING – China’s coal output rose 15% in March from the same month a year ago, with daily production climbing to a record, as Beijing urged miners to crank up operations to ensure steady market supply. China churned out 395.79 million tonnes of coal last month, data from the National Bureau of Statistics (NBS) showed on Monday, equivalent to
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