(Oil Price) – U.S. Energy Secretary Chris Wright blasted net-zero targets as a “colossal train wreck” ahead of his trip to Europe for a gas summit and meetings with EU officials, warning the push for climate policies could weaken energy security and derail a U.S.–EU trade deal. “Net zero 2050 is just a colossal train wreck,” Wright told the Financial Times
CNBC Saudi Arabia’s finance minister has told CNBC that an “even worse” energy crisis could be triggered if the world is not careful with its climate policies. “If we are not careful about what we are doing to achieve our targets, we may end up having [a] very serious energy crisis like what we are seeing now, and it could be
World Oil NEW YORK (Bloomberg) –Donald Trump vowed to revive the coal industry, but it’s President Joe Biden who’s driving a big comeback of the dirtiest fossil fuel. U.S. power plants are on track to burn 23% more coal this year, the first increase since 2013, despite Biden’s ambitious plan to eliminate carbon emissions from the power grid. The rebound
Reuters LONDON – France’s Total SE on Friday became the first major global energy company to quit the main U.S. oil and gas lobby due to disagreements over its climate policies and support for easing drilling regulations. Total said it would not renew its 2021 membership with the American Petroleum Institute (API) following a review of the lobby’s climate positions,
CNBC While the broad market rallied on Wednesday, a number of renewable energy companies retreated on concern that a Republican-controlled Senate is unlikely to pursue pro-climate policies. First Solar, a manufacturer of solar panels, dropped 8.6%, while home solar provider SunPower fell 2.8%. SunRun, another provider of residential solar, closed flat after declining earlier, and fuel cell maker Plug Power slipped 2%. All have outperformed the
