Europe’s ageing power grid and lack of energy storage capacity will require trillions of dollars in investments to cope with rising green energy output, increasing electricity demand and to avoid blackouts. A week ago, Spain and Portugal lost power in their worst blackout. Authorities are investigating the cause, but whatever the findings, analysts and industry representatives say infrastructure investment...
Economic gains from artificial intelligence will boost global output by around 0.5% a year between 2025 and 2030, outweighing the costs of rising carbon emissions by the data centres needed to run AI models, the International Monetary Fund said on Tuesday. An IMF report released at its annual spring meeting in Washington nonetheless noted that those output...
The British government and Italian energy group Eni (ENI.MI) have reached an agreement for the launch of the Liverpool Bay carbon capture (CCS) project, they said on Thursday, opening the way to the construction phase for the initiative. The government said last year it would provide funding of up to 21.7 billion pounds ($28.76 billion) over...
U.S. Interior Secretary Doug Burgum ordered a halt to construction of Equinor’s Empire Wind project off the coast of New York, saying information suggested the Biden administration approved it without enough environmental analysis. In a post on X on Wednesday, Burgum said the information would be reviewed further but did not elaborate on the faults identified....
The Trump administration has exempted 47 companies from regulations to curb mercury and air toxics for their coal-fired power plants for two years, according to a list of facilities published by the Environmental Protection Agency on Tuesday. The exemptions list is the latest move by the administration to use executive or emergency orders to immediately...
Pakistan is considering importing crude oil from the United States for the first time to offset a trade imbalance that triggered higher U.S. tariffs, according to a government source directly involved with the proposal and a refinery executive. Countries are scrambling to find ways to lower their U.S. tariff burdens, including buying more U.S. oil...
China announced additional tariffs of 34% on U.S. goods on Friday, the most serious escalation in a trade war with President Donald Trump that has fed fears of a recession and triggered a global stock market rout. In the standoff between the world’s top two economies, Beijing also announced controls on exports of some rare earths and...
Chemical firm Dow and X-energy Reactor Company have submitted a construction permit application to the Nuclear Regulatory Commission (NRC) for a proposed nuclear project in Seadrift, Texas, the companies said on Monday. WHY IS IT IMPORTANT The U.S. nuclear industry, which has faced expansion challenges in recent decades, is witnessing a surge in demand on...
Record nuclear power production is helping South Korea to cut imports of thermal coal and LNG to multi-year lows so far in 2025, offering a potential blueprint for other power-hungry nations looking to curb reliance on fossil fuel imports. Nuclear reactors have generated more electricity than South Korea’s coal and natural gas-fired plants since September...
he European Commission is considering changes to EU energy laws as part of its next package of proposals to cut the regulatory burden for struggling industries, sources familiar with the matter told Reuters. Brussels has launched a drive to remove layers of bureaucracy that European businesses say set them at a disadvantage against China and...
Help us promote free market solutions for climate change.
Thank you for signing up