Reuters LONDON – Demand for coal and natural gas has exceeded pre-COVID-19 highs with oil not far behind, dealing a setback to hopes the pandemic would spur a faster transition to clean energy from fossil fuels. Global natural gas shortages, record gas and coal prices, a power crunch in China and a three-year high on oil prices all tell one
CNBC LONDON — Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least liked commodity. Australian thermal coal at Newcastle Port, the benchmark for the vast Asian market, has climbed 106% this year to more than $166 per metric ton, according to the latest weekly assessment by commodity price
Reuters LONDON – Coal-fired power plants are proving hard to shutdown in developing economies because they are cheap and convenient, but keeping them going is pumping out carbon dioxide at a rate far beyond the level needed to achieve net zero emissions by 2050. Coal, which is being phased out of the power system in many industrialised nations, is
Reuters The Energy Information Administration (EIA) on Wednesday said U.S. coal production fell in 2020 to its lowest level since 1965 due to low global demand in the wake of the coronavirus pandemic. The federal agency said in a report that U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019.
Reuters BRUSSELS/WASHINGTON – The United States and European Union will pledge closer cooperation on fighting climate change at a summit on Tuesday, but will steer clear of setting a date to stop burning coal, according to a draft joint statement. U.S. President Joe Biden will meet the chief of the European Union’s executive, Ursula von der Leyen, and European Council
CNBC BEIJING — China has ambitious goals for cutting its carbon emissions, but it won’t be abandoning coal power anytime soon as it keeps its eye firmly on economic targets. President Xi Jinping said in September that the country’s carbon emissions would begin to decline by 2030, and he said the country will reach carbon neutrality by 2060 — in four
Reuters CANBERRA – Australian Prime Minister Scott Morrison stopped short of endorsing a 2050 target for net zero greenhouse gas emissions ahead of U.S. President Joe Biden’s climate summit this week. In a speech on Monday, he said only that Australia, the highest per capita carbon emitter among the world’s richest nations, will achieve net zero “as quickly as possible
Reuters LAUNCESTON, Australia- India may be the last major climate change domino to fall into place as the government considers setting a target to reach net zero carbon emissions, in line with similar moves by other major polluters. India is examining setting a target of net zero emissions by 2050, according to media reports, with Bloomberg also reporting that an
When 2020 is behind us, we will all cheer! It is also exciting to see how Data Gumbo has grown it’s world wide client base, increased it’s management team, and is developing something every energy company will need to meet strict ESG requirements. Andrew Bruce, CEO and Founder, of Data Gumbo stopped by to give us the update on Data
S&P Global Platts Opens Consultation on Inclusion of WTI Midland Crude in Dated Brent…
Reuters WARSAW – Poland should scrap a plan to merge state-run energy groups after they have shifted coal assets into a separate entity because it won’t deliver on EU climate targets, a report by environmentalist group ClientEarth and think tank Instrat said. The chief executive of state-run utility PGE said last month that merging PGE with peers Tauron and Enea
EIA With more than 1.3 billion people, India is the second-most populous country in the world and has the third-highest energy consumption level after China and the United States. To help meet the country’s energy needs, India is expanding its electric transmission infrastructure to improve electricity movement between regions of the country. In the International Energy Outlook 2020 (IEO2020), the U.S. Energy Information Administration
