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The Latest Breaking News from IEA

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.

Fortune

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

‘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 Guardian - 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 Independent UK

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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 - UK

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

The Guardian - AU

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.

StockNews.com

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 - UK

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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

The Guardian - AU

Energy Select Sector SPDR ETF (XLE) and iShares U.S. Energy ETF (IYE): Do These Energy ETFs Deserve Your Investment?

Tight supplies amid extended output cuts by Saudi and Russia and soaring oil demand worldwide are expected to feed into higher oil and gas prices this year and beyond. Amid this backdrop, let’s find out if energy ETFs Energy Select Sector SPDR ETF (XLE) and iShares U.S. Energy ETF (IYE)…

StockNews.com

Policymakers urge Europe to move faster on clean energy transition

International policymakers have warned that Europe must invest more quickly and massively in its energy transition if it wants to remain a global industrial power.

Radio France Internationale

The Guardian view on the Rosebank oilfield: a symbol of Sunak’s cynicism

Editorial: The PM continues to play politics with the climate emergency. The dismal consequences will long outlast his time in office

The Guardian - UK

Net zero goal still alive, says IEA – but the world faces major obstacles to reach it

This roundup of stories is adapted from our weekly climate action newsletter, Imagine, written by environment editor Jack Marley. Click here to subscribe.

The Conversation

Fact check: Did Hipkins and Luxon say anything false?

Newshub's leaders' debate was an hour and a half of fiery politics, but how much of what was said was actually true? Newsroom fact checks the men vying to be our next prime minister.

Newsroom.co.nz

Rich nations, China must accelerate to improve net zero targets: IEA

Rich and developing nations alike must sharply improve their net-zero targets, the International Energy Agency said Tuesday, warning that a clean energy surge was the main reason the world's climate goals are still within reach.

Radio France Internationale

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Al Jazeera

Ukraine war sped the world on a path to net zero emissions: Report

Russia’s invasion has helped put the world on a path to net zero emissions of greenhouse gases by 2050, a study says.

The Independent UK

Boost in solar energy and electric vehicle sales gives hope for climate goals, report says

Limiting global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) is becoming harder but a narrow window remains because clean energy infrastructure has grown around the world, a new report said Tuesday

The Guardian - UK

‘Staggering’ green growth gives hope for 1.5C, says global energy chief

IEA’s Fatih Birol says uptake of solar power and EVs is in line with net zero goal but rich countries must hasten their broader plans

The Independent UK

Paris Agreement target still alive thanks to clean energy growth, says IEA

Trillions of dollars of investment in clean power is needed this decade to accelerate its growth, the agency has set out in a new report.

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Barchart

Tight Global Supplies Boost Crude Prices

November WTI crude oil (CLX23 ) on Friday closed up +0.40 (+0.45%), and Nov RBOB gasoline (RBX23 ) closed down -5.62 (-2.19%). Nov WTI crude oil and gasoline prices on Friday settled mixed, with gasoline falling to a 2-week low. A rally in the dollar index today to a 6-1/2...

The Guardian - UK

Global push for clean hydrogen foiled by costs and lack of support, report finds

IEA says firms are announcing more projects but waiting for government support before investing

Barchart

Crude Gains After Russia Bans Gasoline and Diesel Exports

November WTI crude oil (CLX23 ) this morning is up +0.83 (+0.93%), and Nov RBOB gasoline (RBX23 ) is up +1.96 (+0.76%). Nov WTI crude oil and gasoline prices this morning shook off early losses and are moderately higher after Russia banned gasoline and diesel exports, further tightening global fuel...

The Conversation

Renewables are cheaper than ever yet fossil fuel use is still growing – here’s why

Wind and solar are the world’s fastest growing energy sources and together generated 12% of global electricity in 2023. The amount of energy produced by wind and solar is expected to increase and accelerate.

Barchart

Crude Prices Post 10-1/2 Month High on Tight Supply Outlook

October WTI crude oil (CLV23 ) today is up +1.45 (+1.59%), and Oct RBOB gasoline (RBV23 ) is down -0.0130 (-0.48%). Oct WTI crude oil prices today climbed to a new 10-1/2 month high on the nearest-futures chart, extending the rally seen in the past three months driven by expectations...

The Conversation

EV sales growth points to oil demand peaking by 2030 − so why is the oil industry doubling down on production?

Electric vehicle sales are growing faster than expected around the world, and, sales of gas- and diesel-powered vehicles have been falling. Yet, the U.S. government still forecasts an increasing demand for oil, and the oil industry is doubling down on production plans.

Chicago Sun-Times

40 years ago, Illinois recognized the collective bargaining rights of teachers

Republican Gov. Jim Thompson led the way for the Illinois Educational Labor Relations Act in 1983. The law requires school districts to recognize and bargain with education labor unions, the head of the Illinois Education Association writes.

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