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
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
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
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
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
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
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
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
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
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
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
Nasdaq HOUSTON – Exxon Mobil Corp XOM.N has pushed back against investors pressing the largest U.S. oil producer to report on the risks to its business from restrictions on greenhouse gas emissions and potential environmental disasters. In a reply on Wednesday to proxy advisor Glass Lewis, Exxon said the prospect of the world achieving net-zero carbon dioxide emissions by 2050 is
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