climate change – Page 4

U.S. says Chinese minerals control will make energy security more complex

September 28, 2023

Oil Price China’s dominance in critical minerals mining and processing will make global energy security in the energy transition “infinitely more complex,” U.S. Secretary of Energy Jennifer Granholm said at a conference on Thursday. “The fuel of this energy transition — critical minerals — is going to make global energy security infinitely more complex and infinitely more important over

Government shutdown could slow down U.S. clean energy rollout

September 27, 2023

Oil Price A government shutdown could slow down U.S. clean energy investments as it could delay billions of dollars worth of incentives under the Inflation Reduction Act (IRA) for which the Administration is still fine-tuning the details, according to senior White House adviser John Podesta. The IRA, passed in August last year, has nearly $370 billion in climate and clean

Exclusive: Shell CEO comes under pressure from within on renewables shift

September 27, 2023

Nasdaq LONDON – Shell SHEL.L CEO Wael Sawan has come under pressure over his strategy from within the energy company after two employees issued a rare open letter urging him not to scale back investments in renewable energy, sparking an internal debate. The open letter, posted earlier this month on Shell’s internal web and seen by Reuters this week, comes after Sawan

Oil must play major role in global energy transition, Exxon, Aramco CEOs say

September 19, 2023

World Oil (Bloomberg) – The heads of Saudi Aramco and Exxon Mobil Corp. took to the stage at a major industry event Monday to voice support for the global transition to cleaner forms of energy, but one in which oil continues to play a major role for decades to come. Both chief executive officers touted capturing and storing carbon as

IEA’s peak oil demand forecast “wilting under scrutiny,” Aramco CEO says-oil and gas 360

World oil leaders criticize IEA’s politicization amidst climate debate

September 19, 2023

World Oil (Bloomberg) – The opening day of the World Petroleum Congress, a major oil industry conference, saw consensus on at least one point: scorn for the International Energy Agency and its politicization amidst the climate debate. Saudi Arabia’s energy minister, the head of a group of African oil producers, and the premier of Alberta — which is hosting of

Thousands urge Biden to stop new oil and gas projects ahead of climate summit

September 18, 2023

Oil Price Tens of thousands of people rallied in New York on Sunday, urging U.S. President Joe Biden to end approvals for new oil and gas projects as world leaders are heading to New York to take part in a climate summit on Wednesday. Leaders are gathering in New York for this week’s UN General Assembly and a separate Climate Ambition Summit at the

A critical mineral cartel would be worse than OPEC

September 15, 2023

Oil Price In her State of the Union address this week, EC President Ursula von der Leyen made a point about the EU’s growing independence in sectors such as energy, chips, and raw materials. The official stressed the importance of these raw materials for energy, after which she went on to slam China for unfair market practices. Was she

Global warming to exceed 2 degrees celsius limit by 2050: Exxon

August 28, 2023

Oil Price The world is not on track to stop temperatures from rising by more than 2C by 2050, Exxon Mobil said on Monday in its Global Outlook, which also called for increased investments in oil and gas. According to Exxon’s latest report, the world’s climate goals are in jeopardy as the world stares down more people, more prosperity, and

Focus: Fertilizer company OCI bets big on climate-friendly ammonia

July 10, 2023

Nasdaq Without a single sales contract in hand, Dutch fertilizer company OCI OCI.AS is building a $1 billion plant in Texas to produce ammonia with low greenhouse gas emissions, a gamble requiring heavy government subsidies, new markets and a contingency plan. OCI’s plant would be the world’s first new commercial facility to capture and sequester 95% of the emissions produced

Yale Study: ESG investing isn’t doing much for the environment

July 3, 2023

Oil Price ESG or environmental, social and governance investing is facing troubles. Higher bond yields drove an astonishing £304m out of the sector in May. This largely reflects a natural market dynamic – investors are chasing higher returns by moving from shares to bonds. Yet perhaps there should be some deeper angst at play. Is ESG investing really everything it

Climate battle looms as Alberta premier Smith takes aim at Trudeau after election win

May 30, 2023

BOE Report Alberta’s re-elect leader Danielle Smith has put herself on a collision course with Prime Minister Justin Trudeau over climate policies that would weigh on the province’s fossil fuel industry. Smith, leader of the United Conservative Party (UCP), defeated New Democratic Party leader Rachel Notley on Monday, and immediately targeted Trudeau, threatening the country’s ambitious climate goals. Smith

U.S. and Australia sign clean energy pact

May 22, 2023

Oil Price The United States and Australia agreed this weekend on a clean energy manufacturing pact with a focus on the energy transition and emissions reduction. The so-called Climate, Critical Minerals, and Clean Energy Transformation Compact establishes climate and clean energy as a central pillar of the Australia-United States Alliance, the White House said, reporting the signing of the pact

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