The energy crisis is not over yet, Klaus Müller, the president of Germany’s energy regulator, told the Funke media outlet on Wednesday.
European governments’ bill to shield companies and households from soaring energy costs has soared to nearly 800 billion euros, Brussels-based think-tank Bruegel has revealed.
The energy crisis that began last year in Europe and dramatically escalated following the EU response to Russia’s invasion of Ukraine has seen many in government worry about the survival of the continent during the winter
Back in 2005, the world economy was “humming along.” World growth in energy consumption per capita was rising at 2.3% per year in the 2001 to 2005 period. China had been added to the World Trade Organization in December 2001, ramping up its demand for all kinds of fossil fuels. There was also a bubble in the US housing market, brought on by low interest rates and loose underwriting standards.
As the 27th United Nations Climate Change Conference continues its second week of meetings, talks, and events in Sharm el Sheikh, Egypt, big energy deals are being made and futuristic decarbonization plans are being laid. Despite the fanfare, however, some of the simplest and most immediate solutions are those that require the least wheeling and dealing.
There has been so much media space dedicated to the gas supply troubles of the European Union and the associated spillover effect for developing economies that another fossil fuel problem has remained relatively unnoticed: oil prices. Oil prices have been on a general decline over the past couple of months, shedding about 30 percent from the peaks reached earlier this year, pressured by expectations of a global economic slowdown.
Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head of the International Energy Agency (IEA) said on Tuesday.
“The world is in the middle of the first truly global energy crisis,” the executive director of the International Energy Agency, Fatih Birol, said today in Singapore.
It is immoral for oil and gas companies to be making record profits from this energy crisis on the backs of the poorest people and communities
Energy security has been ignored for too long, a diversified and global strategy is needed if the world is going to avoid future energy crises