Russian coal exports have effectively ground to a halt due to the European Union’s ban on entities within the bloc servicing shipments of the commodity anywhere in the world, according to Bloomberg. Suek JSC, Russia’s biggest thermal coal miner, has been unable to ship supplies since mid-August, according to people familiar with the situation who […]
Tag: carbon
The German government expects problems with coal and oil supplies
Germany’s government is worried about possible problems with coal supplies for power plants in the fall and winter due to low water levels in the Rhine River and oil supplies in eastern parts of the country, according to a document seen by Reuters. Europe’s largest economy is trying to reduce its dependence on Russian energy. […]
New record for German electricity
German energy prices rose to a new record, putting more pressure on industrial production and households facing a cost-of-living crisis, according to Bloomberg. Rising gas and coal prices and little sign of relief for Europe’s electricity infrastructure are pushing electricity higher. All this threatens the future of Germany’s industrial regions. This week’s prices are “unbelievable,” […]
Welt: Polish coal in demand for Europe under the weight of the energy crisis
Coal from Poland was considered too expensive and too dirty, but due to the energy crisis, its image is undergoing a rapid transformation today, notes Welt. Demand from neighboring countries, especially Germany, is huge. This is becoming more and more of a problem for Polish consumers. Now Warsaw is reacting. In the energy crisis, the […]
German coal importers expect a flurry of shipments from September
Germany’s coal importers expect more shipments from next month as generators seek to shift to more coal burning and away from Russian gas, but fear logistical problems could hamper deliveries. “The Verein der Kohlenimporteure (VDKi) expects significant volume increases in monthly import figures from September onwards,” Alexander Bete, president of the German Coal Importers Group, […]
Why are carbon prices rising?
By Anastasia Vamvaka Amid the looming EU ban on Russian coal, which will take full effect on August 10, EU states have ramped up coal imports in immediate response to a threat to cut gas supplies from Russia. The ban comes at a time when carbon trade is already restricted. As a result, thermal coal […]
Warren Buffett’s big bet on Occidental oil
by Ian Palmer Billionaire Warren Buffett has been buying Occidental Petroleum shares since 2019. His stake has reached 20% of the company, worth about $180 million. Like all major oil companies, Occidental’s share price has soared 80% since the start of the year. Some observers believe Buffett intends to buy Occidental, as he did with […]
Fund managers up against the clock – How realistic are ‘green’ commitments?
As global warming leaves behind fires, droughts and human casualties across much of the northern hemisphere, there are new signs that the financial commitments needed to protect the environment may not be enough to meet that goal, Bloomberg reports. “I hope what we’re seeing will bring an acceleration of actions, but it won’t necessarily go […]
Germany: Resistance to the use of nuclear power is collapsing
Germany’s government’s resistance to extending the life of its three remaining nuclear power plants Isar 2, Emsland and Neckarwestheim 2 continues to weaken, Süddeutsche Zeıtung writes. The Finance Ministry, led by Greens politician Robert Habeck, has commissioned a new stress test for Germany’s electricity grid. Transmission system operators were asked to check, under even more […]
Drought nature’s ‘gift’ to Putin and his energy war
By Javier Blas Europe has been plagued by a heat wave that has driven temperatures above 40 degrees Celsius in many countries. As households and businesses use their air conditioners, demand for electricity has skyrocketed and wholesale electricity prices have skyrocketed. But far more worrying – and far less talked about – is the drought […]