Global energy giant Shell has lifted its suspension on new gas contracts to Australian businesses a week after the competition watchdog warned it would penalise companies that breach the temporary gas price orders. Following a near six-week freeze on gas talks in response to the federal government’s emergency cap on wholesale gas prices at $12…
Global Oil Markets Facing Uncertainties With EU Moving Away From Crucial Russian Diesel Supplies
January 23, 2023
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Oil markets are bracing for a new period of supply tensions as the European Union is set to cut off ties with its largest external diesel supplier when sanctions against Russian-refined fuel imports come into effect in February. Diesel supplies are already running tight, leading to pump prices being higher than gasoline in many regions….
Bill Gates Funding Startup Looking to Cut Down Methane Emission From Cows
January 23, 2023
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Bill Gates is investing in an Australian startup focusing on reducing methane emissions from cows through a lab-grown feed additive, with the company planning to use the funds for commercial trials and setting up manufacturing, even as experts question the practicality of methane-focused scientific pursuits. Gates-led Breakthrough Energy Ventures LLC (BEV) was part of a…
World Shares Up, Many Asia Markets Closed for Lunar New Year
January 23, 2023
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BANGKOK—Shares were higher Monday in Europe and in Asia, where most markets were closed for the Lunar New Year holiday. Germany’s DAX edged 0.1 percent higher, to 15,058.49 while the CAC 40 in Paris also gained 0.1 percent to 7,002.30. Britain’s FTSE 100 added 0.2 percent to 7,786.30. The future for the S&P 500 lost…
Japan Reports Inflation Hit 4 Percent, 41-year High in December
TOKYO—Japan’s consumer inflation rate hit a 41-year high of 4 percent in December, as prices for everything from burgers to gas surged. That rate is still relatively low, compared to some other nations, including the U.S. Japan, the world’s third-largest economy, has been fending off deflation, or chronically falling prices, for decades. The last time…
JPMorgan CEO Jamie Dimon Warns of ‘Calamity,’ ‘Global Depression’ Without Oil and Gas
Despite the international community’s pledge to depend on renewable energy to achieve its net-zero emissions goal by 2050, the world will need oil and gas for the next 50 years, says JPMorgan Chase CEO Jamie Dimon. While speaking in an interview with CNBC in Davos, Switzerland, on Thursday, Dimon warned that if the global economy…
Ark’s Wood Remains Bullish on Tesla, Says Oil Stock Rally ‘Defying Logic’
NEW YORK—Star stock picker Cathie Wood of Ark Invest suggested the rally in energy stocks will soon end and reiterated her bullish view on electric vehicle maker Tesla Inc. in a webinar on Thursday. Wood, whose $6.8 billion ARK Innovation Fund is up 15 percent for the year to date, was badly bruised last year…
Starmer Criticises Sunak for Davos No-Show and Calls for ‘Clean Power Alliance’
January 20, 2023
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Britain's opposition Labour PartyBusiness & MarketsDavoseconomic policieseconomyenergyEuropeInternationalKeir StarmerPrime Minister Rishi SunakUKWorld
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Sir Keir Starmer has criticised the absence of British Prime Minister Rishi Sunak at the World Economic Forum in Davos and called for a “clean power alliance” of countries who want to accelerate action on climate change and bring down energy prices. With a general election expected in the next 18 months, the leader of…
Solar Ambition ‘Not That Easy’: Mining Giant CEO
Rio Tinto’s criticism of Australia’s solar power ambition could be answered by using old and new systems to go green. The mining giant’s CEO Jakob Stausholm told business heavyweights at the World Economic Forum summit in Davos “we’re fooling ourselves” on the timeline to switch to clean energy. Using huge solar farms to run Queensland’s…
Oil Heads for 2nd Week of Gains on China Demand Outlook
January 20, 2023
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LONDON—Oil rose on Friday and was heading for a second straight weekly gain, spurred largely by brightening economic prospects for China and resulting expectations of a boost to fuel demand in the world’s second-biggest economy. The lifting of COVID-19 restrictions in China is set to increase global demand to a record high this year, the…
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