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Planned $4.9tn Oil and Gas Investment ‘Not Compatible with Climate Goals’

A planned investment of $4.9 trillion (£3.8tn) in new oil and gas exploration and extraction over the next decade is incompatible with international climate obligations. That’s according to new analysis by Global Witness, which claims any fossil fuel production and use from fields not yet in operation or development will …

Coal Prices Continue to Rise, Becoming More Costly Than Solar and Wind Alternatives

Around three-quarters of US coal production is now more expensive than solar and wind energy in providing electricity to American households, according to a new study. “Even without major policy shift we will continue to see coal retire pretty rapidly,” said Mike O’Boyle, the co-author of the report for Energy …

UK Offshore Oil and Gas Production up by a Fifth over past Five Years

UK offshore oil and gas production has increased by a fifth over the past five years, following 14 years of decline. That’s according to a new report from Oil and Gas UK (OGUK), which suggests momentum is again building around exploration activity, with up to 15 exploration wells expected in …

Could US Overtake Saudi Arabia as World’s Top Oil Exporter?

The US will start exporting more oil than Russia and could potentially overtake Saudi Arabia as the world’s top exporter in the next five years. The forecast from the International Energy Agency (IEA) comes after a “spectacular growth” of 2.2 million barrels per day (mb/d) of oil in the US …

Decarbonisation ‘Could Leave Fossil-Fuel Economies Stranded’

Global decarbonisation could turn fossil fuel-reliant economies into ‘stranded nations’ unable to unlock the value of carbon-based assets and infrastructure. These are the findings of a new World Economic Forum study, which shows the world’s sovereign wealth funds collectively own $8 trillion (£6.1tn) in assets but currently invest just 0.19% …

Shift Towards Clean Energy in Southeastern Europe: Challenges and Opportunities

Various means such as petroleum products, biomass, sun, wind, water, nuclear fission, lead us to the production of electricity as the ultimate goal. Each of the methods of obtaining energy has its advantages and disadvantages from the perspective of operating costs, environmental impact, opportunities for continuous energy supply, safety, durability, …

U.S. Oil and Gas Industry Is Drilling Us Towards Climate Disaster

As the 116th Congress commences, in the wake of dire reports from climate scientists, the debate over U.S. climate policies has taken a welcome turn towards bold solutions. Spurred on by grassroots pressure from Indigenous communities, the youth-led Sunrise Movement and communities from coast to coast fighting fossil fuel infrastructure, Capitol Hill is alive once again with policy …