Energy
Natural gas plummets as Freeport delays facility restart following explosion
Smoke billows from the Freeport LNG plant in Quintana, Texas, U.S., June 8, 2022, in this still image obtained from a social media video on June 9, 2022. Maribel Hill | Reuters Natural gas prices plunged on Tuesday, after Freeport LNG said its facility that had a fire last week likely won’t be back up […]
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‘Delusional’: UN chief slams new fossil fuel funding and warns of climate chaos
In remarks delivered to the Austrian World Summit in Vienna via video, Antonio Guterres issued a sobering assessment of the planet’s prospects. “Most national climate pledges are simply not good enough,” he said. Michael M. Santiago | Getty Images News | Getty Images The U.N. Secretary General has slammed new funding for fossil fuel exploration, […]
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The crypto industry just had one of its worst days ever — Here’s what happened
Bitcoin and other cryptocurrencies fell sharply as investors dump risk assets. A crypto lending company called Celsius is pausing withdrawals for its customers, sparking fears of contagion into the broader market. Nurphoto | Nurphoto | Getty Images Crypto has had a brutal first half of 2022, but few days have been this bad for the […]
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BlockFi, the Peter Thiel-backed crypto lending start-up, cuts 20% of its staff as bitcoin plunges
The logo of cryptocurrency platform BlockFi. Budrul Chukrut | SOPA Images | LightRocket via Getty Images Crypto lender BlockFi is cutting around 20% of its staff as the company reckons with a dramatic downturn in digital currencies and heightened concerns about a weakening economy. CEO Zac Prince said in a tweet Monday that BlockFi has […]
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Gasoline prices top $5 a gallon nationally for the first time and are likely headed higher
A sign reflects the price per gallon of fuel at a gas station on March 10, 2022 in Miami, Florida. Joe Raedle | Getty Images The average price for a gallon of unleaded gasoline rose above $5 nationally for the first time due to increased demand from the economy reopening from the pandemic and depleted […]
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Hungary says it’s impossible for Europe to ban Russian gas anytime soon. Putin agrees
Hungarian Foreign Minister Peter Szijjarto has ruled out the prospect of a Russian gas ban in the European Union’s next package of sanctions, saying it would be “impossible.” Landlocked Hungary is overwhelmingly dependent on Russian hydrocarbons. Szijjarto’s comments come as President Vladimir Putin says he believes the West will not be able to wean itself […]
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The more gasoline rises above $5, the greater risk there is of recession
Gasoline is nearing an average $5 per gallon across the U.S., but while consumers are feeling the pain, prices are not yet at a level that would tip the economy into a recession, economists said. Where that breaking point price lies is unclear. Some suggest it would probably not be just gasoline alone that would […]
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As gas hits $8.60 a gallon in the UK, Brits pay $125 to fill a family car
The cost of filling an average family car in the U.K. has surpassed £100 for the first time ever. Picture Alliance | Getty Images Britons are now paying over £100 ($125) to fill up an average-sized family car after petrol prices soared past the psychological threshold for the first time ever Thursday. The price is […]
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Goodbye gasoline cars? EU lawmakers vote to ban new sales from 2035
Traffic in Paris, France, on May 12, 2020. The European Parliament now supports the European Commission’s goal of a 100% cut in emissions from new passenger cars and vans by 2035. Ludovic Marin | AFP | Getty Images European lawmakers have voted to ban the sale of new diesel and gasoline cars and vans in […]
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‘The inevitable’: People living on the coast could be forced to move due to climate change, UK warns
Houses on the east coast of England, photographed in 2020. On Tuesday, the chief executive of the U.K.’s Environment Agency said climate change meant some coastal communities would have to move. Owen Humphreys | PA Images | Getty Images The chief executive of the U.K.’s Environment Agency has issued a stark warning to coastal communities, […]
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