Canada’s premiers have called upon Prime Minister Justin Trudeau for a First Ministers Meeting on a national infrastructure program that will cover everything from the need for more housing to making the country’s economy more competitive. The call was made during the closing news conference on July 12 following the three-day national meeting of premiers…
Canada’s Premiers Ask Feds to Discuss Infrastructure Strategy, Address Cost of Living
Oil Stuck Between Supply Strains and Economic Doubt
LONDON—Oil prices were little changed on Wednesday in a market caught between expectations supply cuts by the world’s biggest fuel exporters will drive prices higher and concerns global economic weakness will sap demand. Brent futures dipped 1 cent to $79.39 a barrel by 1039 GMT, and U.S. West Texas Intermediate (WTI) crude edged 8 cents…
Dollar Hits 2-month Low Before US Inflation Data
July 12, 2023
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LONDON—Bets on a screeching slowdown in U.S. inflation data later saw traders shove the dollar to a 2-month low on Wednesday and push stocks up and bond market borrowing costs down for a third day running. Economists polled by Reuters expect to see June U.S. consumer price inflation slow to 3.1 percent from 4 percent…
National Grid Says to Accelerate Uptake of Heat Pumps
The UK’s electricity system operator has said that there needs to be greater adoption of heat pumps to reach net zero. According to its Future Energy Scenarios report released on Tuesday (pdf), National Grid ESO, the UK’s system operator said that current installation rates won’t meet the government’s heat pump target as well as a…
Sydney Mayor Open to Special Road Toll for Petrol, Diesel Drivers
July 11, 2023
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Sydney Mayor Clover Moore is not against introducing a toll for petrol and diesel drivers to enter Australia’s busiest CBD amid debate from political leaders over whether to adopt a London-style low-emissions zone. Moore said there were several initiatives underway that the local council, which encompasses the Sydney CBD area, was implementing to lower emissions,…
Sen. Manchin Accuses Court of ‘Unlawful’ Conduct by Blocking Pipeline Construction in West Virginia
July 11, 2023
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A natural gas pipeline being built in West Virginia has been blocked once again by a federal appeals court siding with environmental groups despite Congress giving the project a green light, drawing the ire of Sen. Joe Manchin (D-W.Va.), who accused the court of unlawful conduct. The 4th Circuit Court of Appeals issued a stay…
IN-DEPTH: Turbine Failures and Plunging Stock Add to Growing Doubt Over Wind Industry
An increase in the failure of wind turbine components and the subsequent financial fallout is creating uncertainty about the true sustainability of an industry campaigning for green energy. Siemens Energy announced on June 22 that it would be withdrawing its profit assumptions and initiating a technical review of Siemens Gamesa’s onshore wind farm, which could…
Oil Prices Steady as Traders Weigh Supply Cuts Against Economic Headwinds
LONDON—Oil prices were little changed on Tuesday as traders weighed supply cuts by the world’s biggest oil exporters and hopes for higher demand in the developing world in the second half of 2023 against a sluggish global economic outlook. Brent crude futures were up 2 cents to $77.71 a barrel by 0945 GMT, and U.S….
Stock Market Today: Global Shares Rise Ahead of US Inflation Update on Hopes for Easing Rate Hikes
July 11, 2023
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BEIJING—Global stock markets rose Tuesday ahead of a U.S. inflation update traders hope will show the need for more interest rate hikes is easing. Paris, Shanghai, Frankfurt, and Tokyo advanced. Wall Street futures were little-changed. Oil prices rose. Wall Street’s benchmark S&P 500 index gained 0.2 percent on Monday following its second weekly decline in…
Millions of Dollars Needed for Road Upgrades to Transport Massive Wind Turbine Blades
The Central-West Orana Renewable Energy Zone (REZ) is slated to be one of New South Wales’s largest sources of renewable energy, including an array of solar panels, batteries, and wind turbines. But simply moving wind turbine components to the regional area is proving to be a challenging and costly exercise. Authorities in Australia’s most populous…
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