TOKYO—Global shares declined Wednesday after stocks tumbled on Wall Street as worries persist about higher interest rates and their tightening squeeze on the global economy. France’s CAC 40 slipped nearly 0.8 percent in early trading to 7,252.50. Germany’s DAX fell 0.7 percent to 15,290.37. Britain’s FTSE 100 dropped 0.9 percent to 7,902.44. The futures for…
Global Shares Follow Wall Street Lower in Rate Hike Fears
February 22, 2023
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Plan to Reshape Key Port for Renewable Energy Boom
Plans for an offshore wind development project at Port Kembla have been unveiled as part of a proposed renewable energy hub in the New South Wales (NSW) Illawarra. NSW Ports announced concept plans to develop a large-scale port facility at Port Kembla’s Outer Harbour that would support offshore wind projects. Port Kembla is within the NSW…
Plan to Reshape Key Australian Port for Renewable Energy Boom
Plans for an offshore wind development project at Port Kembla have been unveiled as part of a proposed renewable energy hub in the New South Wales (NSW) Illawarra. NSW Ports announced concept plans to develop a large-scale port facility at Port Kembla’s Outer Harbour that would support offshore wind projects. Port Kembla is within the NSW…
Mainland Australia Could Face Electricity Shortages by 2027: Energy Market Operator
The Australian Energy Market Operator (AEMO) has warned that the country’s mainland states could experience electricity shortages as early as 2027 and called for urgent investments in the sector. In the latest national electricity market update (pdf), the AEMO revealed that while Australia had sufficient electricity generation capacity in the next couple of years, the…
Nuclear Power: A Now-Embraceable 3rd Rail of Bipartisan Accord in Energy Debate
February 21, 2023
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Behind long-dredged but deepening trenches, Democrats lobby for renewables—wind, solar, biomass—and Republicans rally for fossil fuels—oil, gas, coal—with both sides claiming their polar policies plot the best ways forward to a national future secured by reliable, affordable domestic energy. Between both lines, but not drawing partisan fire, shimmers nuclear energy, the one power neither party…
Shares Slip as Key Economic Data Looms
February 21, 2023
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LONDON/SINGAPORE—European stocks fell on Tuesday ahead of key data that will offer a window into the health of major economies, while the dollar hovered close to its highest in six weeks. The eurozone, Britain, France, and the United States are all set to publish flash February PMI data, with market players watching for signs of…
Decarbonising Australia’s Heavy Industries: A 30-year Project That Costs $625 Billion
Six hundred and twenty-five billion dollars (US$ 432 billion) is the hefty price tag for an ambitious plan to decarbonise Australia’s heavy industries in the next 30 years. Climate Change and Energy Minister Chris Bowen has launched a report (pdf) that outlines the roadmap to reduce the Australia’s industry emissions by 92 percent as the…
If Government Wants More ‘Clean Energy,’ It Needs to Cut Red Tape: Report
A large amount of wind and solar spending approved by Congress last year faces the prospect of getting stuck for years in the permitting process unless the government streamlines the regulations, according to a recent report by the Brookings Institution. “Permitting of renewable energy generation and electric transmission projects in the United States is multi-layered…
Oil Rises on China Demand Optimism and Supply Concerns
February 20, 2023
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LONDON—Oil prices rose on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers, and Russia’s plans to rein in supply. Brent crude rose 59 cents, or 0.7 percent, to $83.59 a barrel by 1020 GMT. U.S. West Texas Intermediate (WTI) crude for March, which expires on Tuesday, was up 58 cents,…
Shares Edge Up as US Holiday Interrupts Interest-Rate Reality Check
February 20, 2023
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LONDON—Global shares edged up on Monday as a U.S. holiday made for slow trading ahead of minutes of the latest Federal Reserve meeting and a reading on core inflation that could add to the risk of interest rates heading higher for longer. The dollar, which is heading for its largest one-month rise since September in…
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