Europe could face flight cancellations “soon” as fuel shortages intensify, according to Fatih Birol, head of the International Energy Agency.
Global Oil Market Poised for Record Supply Glut in 2026
WTI crude fell to around $64.50 a barrel, its lowest in two months, after forecasts from the IEA and US government pointed to a growing oil surplus and record-high inventories
Ed Miliband has vowed to “Smash the Nimbys” net zero obstructionists
Ed Miliband has committed to addressing the “blockers and delayers” impeding the expansion of wind and solar farms as the Government prioritises overcoming nimbyism in its infrastructure strategy.
The IEA warns that achieving net zero will come at an annual cost of £3.7 trillion.
The International Energy Agency (IEA) has indicated that an annual investment of $4.5 trillion (£3.7 trillion) will be necessary starting from the beginning of the next decade for the world
French gas reserves fall to lowest in Europe
France’s gas reserves have reached the lowest level in Europe after widespread strikes protesting President Emmanuel Macron’s proposed pension reforms impacted imports.
Following the resurgence of China, the price of oil is projected to reach $90.
Major analysts have suggested that due to China’s recovery from years of Covid lockdowns, the price of oil may rise to nearly $90 a barrel this year.
China Plans For A UK Super Embassy In London
China purchased a huge 700,000-square-foot property worth £255 million in 2018. The former location of London’s Royal Mint is now a 70,000 sq. ft.
The fourth day of oil drops due to China demand concerns
Oil lost more on Thursday as concerns about China’s renewed COVID curbs raised concerns about fuel consumption in the world’s largest crude importer.
China’s July Russian coal imports to China are now at 5-year highs as the West rejects Moscow
China’s July coal imports from Russia rose 14% from one year ago to their highest level in at least five decades. This was because China purchased discounted coal, while Western
European governments ready steps in if Russian gas supplies stop
Many European countries have plans in place for managing gas supply, and even rationing power in the event that Russian gas flows cease after supplies through the Nord Stream 1
Germany was preparing to trigger the second phase of its emergency gas plan – known as the “alarm” stage
As Europe’s energy crisis worsens, Europe was urged to plan for a complete cut-off of Russian gas supplies.
EU moves to coal and accuses Russia of ‘rogue actions’ regarding gas
An official from the EU stated Wednesday that the European Union will temporarily switch back to coal in order to deal with the slowing Russian gas flow. This was due