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Brussels readies ‘trade instruments’ to protect EU’s struggling wind industry
The European Commission is considering using its “trade instruments” as the EU’s wind industry continues to struggle with fierce competition from China, high raw material prices, rising interest rates, and slow permit-granting processes.
read more... 20/11/2023
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National Grid Launches Massive $52 Billion Infrastructure Overhaul
National Grid has announced a wide range of policies and investments aimed at upgrading the U.K. and U.S. grid systems and tackling the backlog of energy projects waiting to be connected. While this is optimistic for the energy infrastructure of the two countries, climate activists are concerned that some of the moves may deter investment in renewable energy projects as the connectivity outlook remains uncertain. In addition, energy experts have repeatedly stated the enormous magnitude of the task of upgrading the U.K. and U.S. grid systems, with a multitude of challenges standing in the way of achieving the goal.
read more... 20/11/2023
France’s New ESG Rule Could Result in $7.6 Billion of Oil and Gas Divestments
France’s new regulation, which will not allow funds invested in fossil fuel companies with new development plans to use a national ESG label, could result in forced divestments of $7.6 billion (7 billion euros) of oil and gas assets currently held by funds, according to a Morningstar Inc analysis carried by Bloomberg.
read more... 20/11/2023
Daily (17.11.2023): Oil prices plummeted by 5% on Thursday, weighed down by rising US inventories and fears over slowing global demand
Oil prices continued their losses on Thursday, shedding by about 5% during the session, weighed down by rising inventories in the U.S. and economic signals suggesting fears for global demand. As a result, Brent crude ended at $77.42 per barrel, while WTI crude closed at $72.90 per barrel.
read more... 17/11/2023
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EC sues Poland over cross-border gas trading restrictions
The European Commission has decided to bring a lawsuit against Poland to the European Court of Justice over its legislation imposing additional costs on cross-border gas trading, the former said on Thursday.
read more... 17/11/2023