Energy
Burning gas to produce electricity is ‘stupid,’ the CEO of power giant Enel says
Enel CEO Francesco Starace photographed in 2019. In an interview with CNBC on May 24, 2022, Starace said “you can produce electricity better, cheaper, without using gas.” Giulio Napolitano | Bloomberg | Getty Images The CEO of Italian power firm Enel has cast doubt on the continued benefit of using gas to produce electricity, telling […]
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Spain paints itself as the answer to Europe’s Russian energy problem
The President of the Spanish Government, Pedro Sanchez. Europa Press News | Europa Press | Getty Images Spanish Prime Minister Pedro Sanchez has said his country — and southern Europe more broadly — could provide an answer to the shortfall in gas supplies from Russia as the region looks to double down on sanctions against Moscow. […]
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Russia dominates nuclear power supply chains — and the West needs to prepare now to be independent in the future
Wind turbine and cooling towers of the Cruas-Meysse nuclear power plant in France, April 12, 2021. Jean-Marie HOSATTE | Gamma-Rapho | Getty Images Russia’s war in Ukraine has pushed countries around the globe to wean themselves from Russian oil and natural gas. Parallel conversations are imminent in the nuclear energy space, too, because Russia is […]
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China demand must remain weak or we’ll have big trouble in the oil markets, IEA chief says
Speaking to CNBC on Monday, the executive director of the International Energy Agency spoke about the intricacies of the energy transition and the competing challenges that will need to be balanced in the years ahead. Imaginima | E+ | Getty Images The executive director of the International Energy Agency spoke of the current challenges facing […]
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Automakers are jacking up prices on electric vehicles to bake in rising materials costs
Tesla’s Model 3 at the Tesla store in Washington, D.C. Salwan Georges | The Washington Post | Getty Images Automakers from Tesla to Rivian to Cadillac are hiking prices on their electric vehicles amid changing market conditions and rising commodity costs, specifically for key materials needed for EV batteries. Battery prices have been declining for […]
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Renault reveals electric-hydrogen hybrid concept car, says it will have range of up to 497 miles
Details of Renault’s Scénic Vision concept car were presented to the public on May 19, 2022. The firm’s idea of developing a passenger vehicle that uses hydrogen technology is not unique. Benjamin Girette | Bloomberg | Getty Images Renault has released details of an electric-hydrogen hybrid concept car, with the French automaker describing hydrogen technology […]
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Russia will shut off gas to Finland from Saturday, Finnish energy provider says
A drilling rig at a gas processing facility, operated by Gazprom. Maxim Shemetov | Reuters Russia may have just made its first retaliatory move against Finland after lawmakers in Helsinki officially applied to join the military alliance NATO. Gasum, Finland’s state-owned gas wholesaler, said in a statement Friday morning that natural gas imports from Russia […]
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‘Who is talking about climate change now?’ What the Ukraine war means for global heating
A group of Ukrainian women demonstrate to call for further action against Russia near the headquarters of the EU Commission in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty Images LONDON — Reflecting on energy markets just over one month into Russia’s onslaught in Ukraine, Saudi Arabia’s top energy official said: “Look at […]
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Europe admits it’ll have to burn more coal as it tries to wean itself off Russian energy
A wind turbine and coal in Lower Saxony, Germany. The EU’s desire to wean itself off Russian hydrocarbons means it will need to find fossil fuels from other parts of the world to plug supply gaps. Mia Bucher | Picture Alliance | Getty Images The European Commission has fleshed out details of a plan to […]
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Consumers are hurting as ‘global energy shock’ gets underway, says World Energy Council
The current oil crisis isn’t like previous ones — and consumers will have to bear the brunt of it even as they grapple with rising inflation, Angela Wilkinson from the World Energy Council told CNBC. “I think this is a first global energy shock, this isn’t the same as the 1970s crisis, oil shock crisis. […]
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