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The Latest Breaking News from IEA

Revealed: the huge climate impact of the middle classes

Carbon emissions of richest 10% are up to 40 times bigger than poorest, and ignoring divide may make ending climate crisis impossible, experts say

The Guardian - UK

WA government fails to back up premier’s claim expanding gas industry will be good for planet

Western Australian government declines to say whether Roger Cook’s claims backed by publicly available government or third-party analysis

The Guardian - AU

Cop28 host UAE has world’s biggest climate-busting oil plans, data indicates

State oil company’s huge expansion plans make its CEO’s role as president of UN climate summit ‘ridiculous’, say researchers

The Guardian - UK

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Crude Oil Erases Early Gains on Global Energy Demand Concerns

December WTI crude oil (CLZ23 ) on Tuesday closed unchanged, and Dec RBOB gasoline (RBZ23 ) closed down -0.0131 (-0.59%). Crude oil and gasoline prices Tuesday gave up early gains and settled mixed on global energy demand concerns. Crude oil prices Tuesday initially moved higher, with crude posting a 1-week...

Barchart

McKinsey & Company pushes fossil fuel interests as advisor to UN climate talks, whistleblowers say

The world's top management consultancy McKinsey & Company is using its position as a key advisor to the UN's COP28 climate talks to push the interests of its big oil and gas clients, undermining efforts to end the use of the fossil fuels driving global warming, according to multiple sources…

France 24

China May Soon Hit Peak Coal

In a major turning point for the world, China’s fossil fuel use is projected to decline starting in 2025.

Foreign Policy

Europes' largest economy falls further behind US in recession warning

The German economy declined 0.1% in the third quarter, with falling oil demand sounding the latest recession alarms.

Fortune

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France is Europe’s biggest supporter of ‘carbon bomb’ projects, data shows

French banks have financed $154bn to firms running biggest fossil fuel projects since 2015 climate pact

The Guardian - UK

1 Dividend Stock Set to Fuel Asia's Renewable Energy Transition

In Asia, another 300 million tons of new LNG export capacity will be needed by 2030 to meet demand — roughly a 75% jump from today’s levels. Here's the best stock to play this energy demand trend.

Barchart

Rich countries should stop pushing fossil fuels on Africa – don’t we deserve a renewable future too?

Those who caused the climate crisis should help Africa harness its wind and sun, says Vanessa Nakate, a UN Unicef goodwill ambassador climate activist

The Guardian - UK

Exxon Mobil (XOM) and Chevron (CVX): A Pre-Earnings Analysis of Energy Giants

Exxon Mobil and Chevron (CVX) are scheduled to release their third-quarter earnings soon. Here’s a pre-earnings analysis of the energy giants to determine how investors should position themselves before their numbers are out. Read on….

StockNews.com

The energy transition is under threat as the Global South lags behind

Together, we can make climate-smart economies the new global standard, write the IFC's Makhtar Diop and Masdar's Mohamed Jameel Al Ramahi.

Fortune

Current fossil fuel use makes UN climate targets 'very difficult' to achieve, says IEA

The International Energy Agency warned Tuesday that energy policies must evolve if global warming is to be limited to 1.5 degrees Celsius, saying fossil fuel use is still "far too high".

Radio France Internationale

India's demand for electricity for ACs to exceed total power consumption of Africa: IEA

“India’s demand for electricity for running household air-conditioners is estimated to expand nine-fold by 2050 and will exceed total power consumption in the whole of Africa today,” the International Energy Agency (IEA) said on October 24.

The Hindu

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The Guardian - UK

Sunak faces further pressure over net zero U-turn after IEA warning

Energy watchdog says countries risks fuelling climate crisis and damaging their economies by rowing back on green policies

The Independent UK

Gaza has oil markets on edge. That could build more urgency to shift to renewables, IEA head says

Oil prices are up and markets are tense after the outbreak of war in Gaza

WEKU

Global shift to clean energy means fossil fuel demand will peak soon, IEA says

Fossil fuel demand will peak and renewable energy will grow rapidly in coming years, according to an International Energy Agency report.

Fortune

Saudi crown prince Mohammed bin Salman’s 2030 growth plan bears fruit as Hyundai inks deal to join Lucid as next carmaker in the Gulf

As the IEA predicts global demand for transport fuels will peak in 2026, the Saudi monarchy is in a race to diversify its economy by the end of the decade.

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The Guardian - UK

‘Vaca Muerta was the future’: Argentina goes all in on fracking

It promised wealth and energy self-sufficiency but Vaca Muerta’s vast shale fields have left locals in poverty, harm the environment and stall progress on renewables, critics say

The Independent UK

Electrical grids aren't keeping up with the green energy push. That could risk climate goals

Stalled spending on electrical grids worldwide is slowing the rollout of renewable energy and could put efforts to limit climate change at risk if millions of miles of power lines aren't added or refurbished in the next few years

The Guardian - UK

Global electricity grid must be upgraded urgently to hit climate goals, says IEA

Investment needs to double to more than $600bn a year by 2030 after ‘decade of stagnation’, says agency

The Guardian - AU

Australia’s resources minister sees a gas-fired future just as international experts chart the fossil fuel’s decline

Madeleine King concedes the fossil fuel’s emissions are ‘significant’. To be exact, they account for a whopping 21% of Australia’s total

StockNews.com

Top 3 Profitable Coal Stocks to Buy

Despite environmental concerns, the global coal industry is booming due to robust demand and a surge in investments in the sector. Hence, fundamentally sound coal stocks Hallador Energy (HNRG), SunCoke Energy (SXC), and China Shenhua Energy (CSUAY) might be solid buys. Keep reading.

The Guardian - UK

Global carbon emissions from electric power may peak this year, report says

Thinktank says rapid growth of wind and solar is near rate required if world is to hit 2030 target as part of 1.5C pathway

The Guardian - AU

Global heat is now ‘gobsmackingly bananas’, but there’s hope humanity can limit the climate damage

It’s hard to overstate just how exceptionally high global temperatures are now, but we have the technology to avert disaster

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