Commentary Only 15 years ago, the European Union produced more natural gas than Russia exported, according to the EIA. Repeating past mistakes and maintaining a failed energetic interventionist policy would only worsen what is already a structural disaster. The prohibitive cost of electricity and gas in Europe isn’t a result of market flaws but of…
The Terrible Mistake of the European Union Energy ‘Price Cap’ Proposal
Global Liquefied Natural Gas Supplies Are Sold Out Until 2026, Major LNG Importer Warns
November 21, 2022
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Business & MarketseconomyenergyEuropean UnionInternationalliquefied natural gasMarketsRussiasupplyUnited StatesUSWorld
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Japan, the leading importer of liquefied natural gas (LNG), is warning about supplies getting tighter over the coming years due to competitive markets and underinvestment in supply. Long-term LNG contracts prior to 2026 have all been sold out, a survey of Japanese firms by the country’s trade ministry has found. “The LNG procurement environment has…
Twitter Will Need to Add Moderators in Europe, Top EU Official Demands
November 18, 2022
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Business & MarketsCompaniescontent moderationeconomic policieseconomyEuropeEuropean Unionfree speechMarketsMedia & Big TechTwitterUSWorld
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Twitter has been ordered to increase the number of Twitter moderators in the European Union (EU) if it wants to operate there, said a top EU regulator. The EU’s Digital Services Act (DSA) and the Digital Markets Act (DMA), which came into force on Nov. 16, will put larger Internet platforms under the bloc’s online content censorship rules. European…
European Union ‘Ready’ to Enforce Russian Oil Price Cap, Says Commission President
The European Union is “ready to go” with its efforts to impose a price cap on Russian oil exports, according to Ursula von der Leyen, the president of the European Commission. “We have set all the tools necessary in place in the European Union,” von der Leyen said in an interview with Bloomberg. “It is…
Energy Bills Nearly 90 Percent Higher in Europe Than a Year Ago
November 10, 2022
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Business & Marketseconomic policieseconomyenergyenergy pricesEuropeEuropean UnionNatural gasrecessionRussia-Ukraine WarRussian sanctionsUKWorld
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Energy bills are nearly 90 percent higher for households across Europe compared to a year ago, according to a new report. The massive increase in energy prices throughout Europe has been caused by Russia’s war against Ukraine. The energy crisis caused by the Russia–Ukraine war and the resulting sanctions on Mosco have generated a cost-of…
Truss Resignation Likely to Stall Canada-UK Trade Deal, Experts Say
More political tumult in Britain is likely to further stall trade talks with Canada, experts say. U.K. Prime Minister Liz Truss stepped down today after a mere six weeks in office following ministers’ resignations over her controversial tax policies. The ruling Conservative Party says it will elect a new leader in a week, who will…
European Prosecutor Investigating COVID-19 Vaccines
A European prosecutor said Oct. 14 it is investigating COVID-19 vaccines. The European Public Prosecutor’s Office (EPPO) said it has an “ongoing investigation into the acquisition of COVID-19 vaccines in the European Union.” “This exceptional confirmation comes after the extremely high public interest. No further details will be made public at this stage,” the office…
European Union Agrees on Capping Russian Oil Prices
October 6, 2022
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Business & Marketseconomic policiesenergyEuropeEuropean UnioninflationOPECprice capsRussia-Ukraine WarsanctionsWorld
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The European Union (EU) has agreed on an eighth package of sanctions against Russia for its invasion of Ukraine, which includes an agreement to cap the prices of Russian oil. The package was proposed last week by European Commission President Ursula von der Leyen after Russian President Vladimir Putin threatened the use of nuclear weapons….
Europe Braces for Phone Service Outages Ahead of Winter Energy Shortage
Mobile phones may go dark in Europe this winter due to the energy crisis potentially affecting much of the cellular network across the continent. The massive reduction of Russian gas supplies to Europe over the Ukraine conflict has led to the specter of power cuts, resulting in a panic among the European telecommunications industry, according…
Hungary No Longer a ‘Full Democracy?’
Commentary The European Parliament has voted to declare Hungary no longer a true democracy. The resolution, passed on Sept. 15, describes the central European country as a “hybrid regime of electoral autocracy” and that while elections do occur, respect for democratic norms and stands is “absent.” The resolution received 433 votes in favour and 123 votes against declaring…
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