Australia will join 31 members of the International Energy Agency (IEA) to release 60 million barrels of oil from emergency reserves to stabilise global energy markets. Angus Taylor, the minister for industry and energy, said the global oil market was “showing signs of uncertainty” amidst the ongoing Russian invasion of Ukraine. “We are continuing to…
Australia Joins IEA in Releasing Oil Reserves to Stabilise Global Markets
March 2, 2022
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AustraliaBusiness & EconomycommoditiesEuropeInternationalInternational Energy AgencyMarketsRussia-Ukraine WarUkraineWorld
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Surging Global Oil Prices Hitting Aussie Households at the Pump
February 14, 2022
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AustraliaAustralian Institute of PetroleumBusiness & EconomyinflationInternationalInternational Energy AgencyOPECWorld
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The surge of global oil prices is showing no sign of subsiding as political tensions escalate between Russia and Ukraine, further hitting the wallets of Australian motorists. Brent crude oil, the international benchmark for oil prices, hit a seven-year high on Monday, trading at above $95 (A$133) a barrel, and experts expect it to soon…
US ‘Must Not Emulate Europe’s Disastrous Energy Blueprint’: Expert
November 18, 2021
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climate changecoalEnergy Information AdministrationEuropeIEAInternational Energy AgencyJoe ManchinJohn BarrassoNatural gasOilrenewablesRobert BryceSaule OmarovaUSUS News
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Energy expert Robert Bryce said spiking energy prices in Europe are tied to an increased reliance on renewables and lowered investments in fossil fuels, arguing that the continent’s green policies provide the United States with a clear example of what not to do. Bryce, who made his remarks in testimony to the Senate Committee on Energy…
Climate Change Activism Will Benefit Heavy Emissions Producers Overseas: Mining Industry
July 16, 2021
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Asia & PacificAustraliaBusinessclimate changeCorporate ActivismEconomiesInternationalInternational Energy AgencyMinerals Council of AustraliaWorld
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Attempts to shut down Australia’s coal industry for the sake of climate change are premature—according to mining industry representatives—who say Asian nations will simply source coal from other countries, many of which have less stringent environmental regulations. The warning comes as the International Energy Agency (IEA) revealed global electricity demand—namely from India and China—could rise,…
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