World Oil NEW YORK (Bloomberg) –Donald Trump vowed to revive the coal industry, but it’s President Joe Biden who’s driving a big comeback of the dirtiest fossil fuel. U.S. power plants are on track to burn 23% more coal this year, the first increase since 2013, despite Biden’s ambitious plan to eliminate carbon emissions from the power grid. The rebound
World Oil (Bloomberg) –BlackRock Inc. Chief Executive Officer Larry Fink said emerging economies need about $1 trillion a year over the next three decades for the world to achieve carbon neutrality. “Right now the emerging world is getting about $150 billion a year, so we’re on a pathway of failing,” Fink said Tuesday at the Institute of International Finance annual
CNBC Europe’s handling of the transition to a green economy has been “management by chaos” and high energy prices could persist until 2025, according to Johannes Benigni, chairman of analysis firm JBC Energy. Natural gas futures soared to 13-year highs on the New York Mercantile Exchange, with Europe in particular feeling the pinch due to global supply shortages and its reliance
Bloomberg President Joe Biden is under intensifying pressure to keep a lid on rising gasoline and natural gas prices that threaten the economic recovery and Democrats’ political ambitions. But he has little power to control global energy markets. “The toolbox is actually pretty limited,” said Kevin Book, managing director of research firm ClearView Energy Partners. “The U.S. government doesn’t have
Reuters U.S. clean-energy startups are booming as oil companies are giving them more attention and cash in a bid to speed up their own green transitions. Investors want oil producers to accelerate a move away from fossil fuels by selling cleaner energy and developing technology to eliminate climate-warming gases. Entrepreneurs proposing to harness energy from offshore wind and waves,
World Oil Climate policy is a hot topic in the oil and gas industry, with the theme ‘Climate Change’ mentioned over 210,000 times in GloblaData’s Filing Analytics database of global oil and gas company filings in 2020 and 2021 combined – a 41% increase from the 2018-2019 period. The leading data and analytics company says that climate change policies will
CNBC The CEO of energy technology firm Baker Hughes has outlined what he feels are key points related to the energy transition amid deepening concern about rising gas prices and the knock-on effects this could have in the months ahead. In an interview with CNBC’s Dan Murphy at the Gastech conference in Dubai, United Arab Emirates earlier this week, Lorenzo Simonelli was
CNBC DUBAI, United Arab Emirates — Soaring gas prices are the cost of the attempted shift to renewable energy sources, OPEC Secretary General Mohammed Barkindo told CNBC on Tuesday. “I have talked about a new premium that is emerging in the energy markets that I term the transition premium,” Barkindo told CNBC’s Dan Murphy at the Gastech conference in
Nasdaq Global commodities trader Cargill Inc CARG.UL said on Thursday it is launching a carbon farming program for the 2022 season that will pay growers for production practices that lower emissions and capture more climate-warming carbon in soils. Cargill’s RegenConnect program will use soil sampling, farm data and remote sensing to estimate the environmental benefit of practices like planting cover crops or
CNBC Chevron Chairman and CEO Mike Wirth told CNBC on Wednesday the oil company’s lower-carbon investments focus on areas such as renewable natural gas and hydrogen because it sees significant potential to create shareholder value. “One of the things we’ve chosen not to go into is wind and solar,” Wirth said in a “Mad Money” interview. “These are technologies that are relatively mature.
World Oil WASHINGTON (Bloomberg) –Natural gas won’t count as clean energy under a House Democratic plan that would eventually rid the electric grid of carbon and is part of the $3.5 trillion tax-and-spending package moving through Congress. The proposal by a House panel would provide $150 billion to help spur electric providers to add more clean energy through a system
Reuters BEIJING/SINGAPORE – China’s Sinopec Corp plans to spend 30 billion yuan ($4.6 billion) on hydrogen energy by 2025 as the state oil and gas major pivots to producing natural gas and hydrogen as part of becoming a carbon-neutral energy provider by 2050. Asia’s biggest oil refiner said on Monday it plans to become China’s largest company to produce hydrogen
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