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The Latest Breaking News on Energy

Egypt’s Trade Balance Deficit Drops 12.4%

Egypt’s trade deficit declined by 12.4% year-on-year (YoY) in June, according to data released on Monday by the Central Agency for Public Mobilization and Statistics (CAPMAS). The monthly bulletin revealed that the deficit value of trade balance reached $3.21 billion in June, down from $3.66 billion for the same month…

Asharq Al-Awsat

Election-time Brazil gasoline tax cut to lead mills to shun ethanol

Brazilian President Jair Bolsonaro's move to sharply cut taxes on fuels, particularly gasoline, to boost his reelection chances has squeezed ethanol's profit margins and is expected to lead mills to shun the biofuel and focus strongly on sugar.

Reuters

Fuel is set to jump 25 cents this month and the European energy crisis could push diesel prices even higher, economist says

Fuel prices are set to jump by 25 cents a litre later this month — but the European energy crisis could send the price of diesel fuel even higher, says an energy economist.

ABC News

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US takes aim at some Trump offshore safety rule rollbacks

The U.S. Department of the Interior says it wants to reverse some Trump administration rollbacks of offshore safety rules dealing with devices to prevent blowouts like the BP catastrophe of 2010

The Independent UK

Subsidies, tax cuts set to be okayed Tuesday

The cabinet is on Tuesday expected to approve measures to relieve the impact of high energy prices, including power bills, but the decision will cost the government even more money.

Bangkok Post

Lake Michigan wind farm would harm migratory birds

Referring to “Lake Michigan Wind Farm Touted for Southeast Side,” pushed by state Rep. Marcus Evans and state Sen. Bob Peters, I offer the following: Of the five Great Lakes, only Lake Michigan is a migratory superhighway for migratory birds. Placement of turbines would be a death sentence for them.

Chicago Sun-Times

Now, we begin: 10 simple ways to make Australia's climate game truly next-level

Australia last week moved to tackle the climate crisis when federal parliament passed Labor’s climate bill. But the new law is just the first step. Over the next eight years to 2030, we must get on a steep trajectory of emissions reductions.

The Conversation

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Life in Kharkiv still precarious despite Ukraine’s recent victories

Disruption to water and energy supplies is routine and the liberating troops have found bodies of civilians showing signs of torture

The Guardian - UK

Is It Time to Pull the Plug on This Stock and Sell It?

Plug Power (PLUG) recently announced its collaboration with the retail giant Amazon (AMZN), which should prove beneficial. However, considering its bleak fundamentals, should you pull the plug on this stock and sell it? Let’s find out….

StockNews.com

Egypt climate champion calls for new metric on climate finance

Developing country climate financing needs should start being reframed at the U.N. climate summit in November, in order to move beyond the outdated – and unfulfilled - $100 billion that rich nations had pledged to deliver each year, the U.N. high-level climate champion for Egypt said.

Reuters

Climate group wants fast track to net zero

Boosting battery storage and planning ahead for coal closures are among the steps of a plan mapped out by the peak body on climate action to reduce emissions.

AAP

South Africa power cuts may not end in a year, Eskom says

Eskom, which generates more than 90 percent of South Africa’s power, has struggled to meet energy demands for a decade.

Al Jazeera

Find ‘something better’ than energy price freeze set to cost £150bn, Liz Truss told

‘This could turn out to be the biggest single fiscal announcement in my lifetime’, IFS chief warns

The Independent UK

An Eleventh-Hour, Hail-Mary Climate Remedy

The Inflation Reduction Act promises to slash U.S. greenhouse gas emissions, but enables more pollution in Gulf Coast communities.

Texas Observer

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Al Jazeera

Do not backtrack on climate goals amid energy crunch, UN tells EU

Bloc’s member states warned against usage of fossil fuels in response to soaring energy prices amid war in Ukraine.

Reuters

Explainer-The Zaporizhzhia nuclear power plant's shutdown

The last operating reactor at the Russian-held Zaporizhzhia nuclear power plant in Ukraine has been put into what is known as a cold shutdown after an external power line was restored, making it possible to shut it down more safely.

The Independent UK

UN to EU: Don't backtrack on climate goals amid energy pinch

The acting U.N. human rights chief has urged European Union member states to avoid “backtracking” on their efforts to develop renewables and energy-efficiency projects at a time when soaring energy prices have prompted some to ramp up use of and searches for fossil fuels

Reuters

The G7's price cap on Russian oil begins to take shape

The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow's ability to fund its invasion of Ukraine, a plan analysts say could work in the long term but might boost oil prices in coming months.

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The Independent UK

Germany: No option but to permit Russian uranium shipment

Germany says that it can’t stop a shipment of Russian uranium destined for French nuclear plants from being processed at a site in Germany because atomic fuel isn’t covered by European Union sanctions on Russia

Irish Mirror

Eamon Ryan announces major EU offshore wind deal 'in response to Russia's war on energy'

'No one has ever weaponised access to the sun or wind'

Dublin Live

Major EU offshore wind deal struck in Dun Laoghaire 'in response to Russia's war on energy'

Minister Ryan also said he cannot guarantee there will be no blackouts this winter

Al Jazeera

Europe hopes to reap political dividends from an expensive winter

The war in Ukraine forces the EU to decouple from Russian energy and teaches the bloc some hard lessons, say analysts.

Reuters

Italian business lobby in talks over potential gas rationing

Italy's main business lobby group Confindustria is in talks with the government about potential gas rationing, the head of the organisation said on Monday.

Reuters

EU eyes levy on fossil fuel firms to help consumers survive energy crisis

Fossil fuel firms may have to share their excess profits to help European households and industries cope with red-hot energy bills, a draft European Union plan showed on Monday as the cost of the West's "energy war" with Russia took a growing toll.

The New Daily

‘Good deal’: Petrol prices plunge to eight-month low before fuel tax sting

Australian petrol prices have plunged to an eight-month low over the past week, delivering much needed cost of living relief to motorists.

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