During last year’s energy crisis, when prices soared due to Russia’s invasion of Ukraine, the Group of 20 (G20) nations provided $1.4 trillion to boost energy supplies and keep prices from climbing even higher, according to the thinktank International Institute for Sustainable Development (IISD). Financial support from the G20 was in the form of money […]
Oil prices rose by more than six percent on Monday after Saudi Arabia and other oil producing nations announced a surprise production cut of 1.15 million barrels per day from May through December. The announcement, coming a little more than a year after Russia’s invasion of Ukraine sent energy prices skyrocketing, is another example of […]
In a swift manner of action, California has passed a law that prohibits companies from price gouging at the gas pump, meaning companies will face civil penalties for hiking up fuel costs. The new bill also establishes an independent watchdog division within the California Energy Commission (CEC) and gives CEC authority to impose penalties as […]
Two aging UK coal plants will close at the end of the winter despite requests by the government to keep them running. The plants were originally scheduled to shutter in 2022, but the government asked them to remain on standby through the winter of 2022 and 2023 to pick up the slack during the ongoing […]
Through a year of war in Ukraine, the U.S. and most European nations have worked to help counter Russia, in supporting Ukraine both with armaments and in world energy markets. Russia was Europe’s main energy supplier when it invaded Ukraine, and President Vladimir Putin threatened to leave Europeans to freeze “like a wolf’s tail” – a reference to a famous Russian fairy tale – if they imposed sanctions on his country.
Despite warnings from scientists that the world must rapidly cut coal use in order to limit global warming to 1.5 degrees Celsius above pre-industrial levels and avoid the worst impacts of the climate crisis, China approved more new coal plants in 2022 than at any point in the last seven years. That’s the conclusion of […]
Energy prices have risen dramatically since Russia’s invasion of Ukraine and could push as many as 141 million people into extreme poverty, a new study has shown. The costs of goods and services have also gone up due to higher energy prices.
South African President Cyril Ramaphosa has declared a National State of Disaster over the country’s worst-ever rolling blackouts. Many customers have been without power for as much as 12 hours per day to keep aging coal-fired power plants — the backbone of the country’s electricity network — running. Ramaphosa called the power crisis “an existential […]