Energy Policy, Oil & Gas Archives

Coal Can’t Compete With Gas & Renewable in Europe, Study Says

24Oct

By Patti MohrNo Comments

Climate Action, ESG, Sustainable Finance, Energy Policy, Oil & Gas, Types of News: Brief

Coal Can’t Compete With Gas & Renewable in Europe, Study Says

October 24, 2019-In a sign that renewable energy and natural gas are increasingly gaining market power, a study released today by the Carbon Tracker Initiative finds that 79 percent of coal generators in the European Union are running at a loss. "Owing to relentless competition from ever lower-cost wind and solar, and gas, these losses could be sustained for the foreseeable future," according to the Carbon Tracker Initiative, a London-based think tank focused on climate change. The new study suggests the coal industry cannt survive, unless it is supported by heavy government subsidies, due to sustained competition from wind and solar power and temporarily cheap natural gas. "EU coal generators are haemorrhaging cash because they cannot compete with ever-cheaper renewables and...

Trade in Plastic Waste is Coming to A Halt, in Part

28May

By Patti MohrNo Comments

Climate Action, ESG, Sustainable Finance, Legal Battles, International Law, Justice, Types of News: Brief

Trade in Plastic Waste is Coming to A Halt, in Part

May 28, 2019--Amid a decline in trade of plastic waste, Malaysia announced it would return 3,000 tons of plastic trash to exporting countries, including Australia, Canada, Japan, the United States and Saudi Arabia. "Malaysia won’t continue to be a dumping ground for the developed nations and those responsible for destroying our ecosystem with these illegal activities are traitors," Malaysia Environmental Minister Yeo Bee Yin, told reporters on Tuesday, according to a report in the South China Morning Post. "We will fight back. Even though we are a small country, we will not be bullied." The problem, the Malaysian ministry said, is that countries are shipping low-quality plastics that cannot be recycled -- a move that is against the country's laws. “Garbage is traded under t...

New U.S. Sanctions Against Iran Go Into Effect

5Nov

By Patti MohrNo Comments

Energy Policy, Oil & Gas, Global Trade, Sanctions, Types of News: Brief

New U.S. Sanctions Against Iran Go Into Effect

Nov. 5, 2018--Six months after pulling out of the six-party nuclear deal, the United States has launched new sanctions against Iran, impacting its banks, shipping industry, businesses and individuals. The sanctions block assets and transactions on over 900 targets, many of them newly named. "They'll be the toughest sanctions ever placed against the Islamic Republic of Iran," U.S. Secretary of State Mike Pompeo said on Sunday in an interview with CBS News. The sanctions mean that companies doing business with both the U.S. and Iranian firms will have to make a choice: Pick a side. You cannot do business with both countries. According to Pompeo, some business leaders quit conducting business in Iran based on the U.S. decision to withdraw from the six-party nuclear deal. "European co...

U.S. Oil Production Surges as OPEC, Russia Plan Reductions

28Feb

By Patti MohrNo Comments

Energy Policy, Oil & Gas, Types of News: Brief

U.S. Oil Production Surges as OPEC, Russia Plan Reductions

February 28, 2018--U.S. oil production rose to its highest level since 1970 last November, as the U.S. shale oil production continued to boom. The historic increase contrasted sharply with OPEC and Russian oil production, which is holding steady but expected to decease output to increase prices. U.S. production peaked at 10.057 million barrels a day in November and is expected to average 10.6 million barrels a day in 2018, according to a monthly review by the U.S. Energy Information Administration (EIA). That's roughly on par with oil production in Saudi Arabia and Russia. It is noteworthy considering that other oil-producing countries are planning reductions to try to boost prices. According to The Economist, Saudi Arabia needs oil prices to reach $70-80 a barrel to maintain a steady e...

China Outlines Goals for Arctic Trade Route & Development

29Jan

By Patti MohrNo Comments

Energy Policy, Oil & Gas, Foreign Aid, International Development, Global Trade, Types of News: Brief

China Outlines Goals for Arctic Trade Route & Development

As global warming melts thick ice in the Arctic, countries are increasingly staking out economic claims in the region. China is no exception. This month, China outlined its vision for creating a new trade route through the region and for developing its resources. In a new 12-page White Paper, China called itself as an "important stakeholder" in the region. As Near-Arctic State and a permanent member of the UN Security Council, China "shoulders the important mission of jointly promoting peace and security in the Arctic," the paper said. It is a significant policy statement on navigating the delicate environmental and diplomatic interests in the Arctic waters. As the ice melts in the region, the potential for international disputes over shipping and natural resources rises. Governi...

Foreign Policy: Disagreements on Dealing with Iran

6Mar

By Patti MohrNo Comments

Energy Policy, Oil & Gas, Global Trade, Sanctions, Types of News: Analysis

Foreign Policy: Disagreements on Dealing with Iran

In a bold and unprecedented act, the Republican-led Congress hosted an address by Israeli Prime Minister Benjamin Netanyahu in which he urged Washington to back away from talks with Iran on nuclear proliferation and keep sanctions in place. The speech by the Israeli Prime Minister was unprecedented because it used the institution of the U.S. Congress to undermine diplomatic negotiations of the White House. The United States is one of six countries—the other five countries are China, France, Germany, Russia, and the United Kingdom—negotiating with Iran to freeze its nuclear program in exchange for relief from sanctions. The talks face a checkpoint deadline at the end of this month. Although some diplomats have expressed progress in the effort to halt Iran's nuclear weapons program, Netany...