Tag #Fossil Fuels

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kathimerini.gr

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Feb 12, 01:11

Trump's Energy Policy: US Dominance and Climate Accord Withdrawal

President Trump's energy policy prioritizes increasing US hydrocarbon production and exports, potentially forming an energy alliance with Russia, while withdrawing from the Paris Agreement and prioritizing economic growth over climate action; in 2023, US daily oil production reached 19.4 million bar...

Trump's Energy Policy: US Dominance and Climate Accord Withdrawal

President Trump's energy policy prioritizes increasing US hydrocarbon production and exports, potentially forming an energy alliance with Russia, while withdrawing from the Paris Agreement and prioritizing economic growth over climate action; in 2023, US daily oil production reached 19.4 million bar...

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What is the core goal of President Trump's energy policy, and what are its immediate global implications?

Under President Trump's leadership, the US aims to boost domestic hydrocarbon production and increase energy exports, leveraging its shale oil and gas reserves and becoming a dominant global energy player. This strategy involves further increasing oil and gas production despite existing energy self-sufficiency, driven by a four-year period of overproduction and export growth, particularly in LNG.

dailymail.co.uk

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Feb 11, 01:09

Elliott Investment Sends BP Shares Soaring

Activist investor Elliott Investment in BP caused a 7.4% surge in BP's shares to 465.15p, prompting speculation about potential company restructuring, leadership changes, and divestment from renewable energy projects due to underperformance compared to rivals.

Elliott Investment Sends BP Shares Soaring

Activist investor Elliott Investment in BP caused a 7.4% surge in BP's shares to 465.15p, prompting speculation about potential company restructuring, leadership changes, and divestment from renewable energy projects due to underperformance compared to rivals.

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What is the immediate market impact of Elliott's investment in BP, and what are the potential short-term consequences for the company's strategy?

BP's shares surged 7.4 percent to a seven-month high after activist investor Elliott disclosed a stake in the company, sparking speculation of potential changes such as a company break-up, leadership overhaul, or asset sales. This follows investor frustration with BP's underperformance compared to rivals and calls to reduce investment in renewables.

nrc.nl

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Feb 8, 04:08

Political Shifts and Economic Factors Hamper Renewable Energy Transition

Despite the decreasing cost of renewable energy sources like solar and wind power, a complete shift away from fossil fuels is hampered by insufficient government support for crucial infrastructure upgrades, grid modernization, and energy storage solutions.

Political Shifts and Economic Factors Hamper Renewable Energy Transition

Despite the decreasing cost of renewable energy sources like solar and wind power, a complete shift away from fossil fuels is hampered by insufficient government support for crucial infrastructure upgrades, grid modernization, and energy storage solutions.

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What are the immediate impacts of decreasing political support for ambitious climate policies on the energy transition?

The rapid decrease in renewable energy costs, particularly wind and solar, initially spurred optimism for a self-sustaining energy transition. However, this optimism is now challenged by political shifts and economic factors, hindering the complete replacement of fossil fuels.

lemonde.fr

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Feb 7, 16:12

France's Decarbonization Plan Faces Setback Amidst Rise in Fossil Fuel Heating Sales

France aims to eliminate 300,000 oil and 350,000 gas home heating systems annually by 2030, but sales of these systems rose by 14% in 2024, despite regulations phasing them out, due to factors like stock replenishment and lower gas prices, while heat pump sales decreased.

France's Decarbonization Plan Faces Setback Amidst Rise in Fossil Fuel Heating Sales

France aims to eliminate 300,000 oil and 350,000 gas home heating systems annually by 2030, but sales of these systems rose by 14% in 2024, despite regulations phasing them out, due to factors like stock replenishment and lower gas prices, while heat pump sales decreased.

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What is the immediate impact of the increased sales of fossil fuel heating systems on France's plan to decarbonize home heating by 2030?

France plans to eliminate 300,000 oil-fired and 350,000 gas-fired home heating systems annually by 2030. However, sales of these systems increased by 14% in 2024, reaching 431,500 gas and 13,500 oil units. This surge is attributed to distributors replenishing stocks and lower gas prices compared to 2022.

theguardian.com

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Feb 5, 16:14

Equinor Cuts Green Spending, Prioritizes Oil Production

Equinor, Norway's state oil company, announced a 50% reduction in its renewable energy investment to \$5 billion over two years, prioritizing oil and gas production, including the controversial Rosebank oilfield in the North Sea, to reach 2.2 million barrels per day by 2030, despite a court ruling a...

Equinor Cuts Green Spending, Prioritizes Oil Production

Equinor, Norway's state oil company, announced a 50% reduction in its renewable energy investment to \$5 billion over two years, prioritizing oil and gas production, including the controversial Rosebank oilfield in the North Sea, to reach 2.2 million barrels per day by 2030, despite a court ruling a...

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What are the long-term implications of Equinor's strategic shift for the UK's energy sector and its climate targets?

Equinor's decision highlights a significant challenge to global climate goals. The reduced investment in renewables, coupled with increased fossil fuel production, will likely increase carbon emissions and hinder efforts to transition to a low-carbon economy. This trend, mirrored by other oil majors, underscores the complex interplay between economic pressures, political decisions, and environmental sustainability.

abcnews.go.com

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Feb 4, 07:07

Senate Confirms Fossil Fuel Executive as Energy Secretary

The Senate confirmed Chris Wright, CEO of Liberty Energy, as President Trump's energy secretary, marking a decisive shift toward prioritizing fossil fuel production and potentially hindering climate change mitigation efforts; the vote was 59-38, with eight Democrats supporting the nomination.

Senate Confirms Fossil Fuel Executive as Energy Secretary

The Senate confirmed Chris Wright, CEO of Liberty Energy, as President Trump's energy secretary, marking a decisive shift toward prioritizing fossil fuel production and potentially hindering climate change mitigation efforts; the vote was 59-38, with eight Democrats supporting the nomination.

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What are the immediate consequences of Chris Wright's confirmation as energy secretary?

The Senate confirmed Chris Wright, CEO of Liberty Energy and a prominent climate change skeptic, as energy secretary. This appointment signals a significant shift toward prioritizing fossil fuel production under the Trump administration. Eight Democrats joined Republicans in supporting the nomination, reflecting a divided perspective on energy policy within the party.

kathimerini.gr

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Feb 12, 10:11

BP Cuts Renewable Energy Investments, Prioritizes Fossil Fuels

BP, facing decreased 2024 profits (\$8.9 billion vs \$13.8 billion in 2023), is dramatically reducing renewable energy investments and boosting oil and gas production, mirroring actions by Shell and Equinor, amid political support for fossil fuels and despite scientific warnings on climate change.

BP Cuts Renewable Energy Investments, Prioritizes Fossil Fuels

BP, facing decreased 2024 profits (\$8.9 billion vs \$13.8 billion in 2023), is dramatically reducing renewable energy investments and boosting oil and gas production, mirroring actions by Shell and Equinor, amid political support for fossil fuels and despite scientific warnings on climate change.

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How does BP's strategic shift reflect broader trends within the energy industry and the political landscape?

This strategic reversal by BP highlights the complex interplay between profit motives and environmental concerns within the energy sector. The decreased profitability of renewables, coupled with political support for fossil fuels, seems to be influencing these major companies' decisions.

theguardian.com

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Feb 10, 16:11

Elliott Investment Stake Sends BP Shares Soaring

BP's shares surged 8%—its biggest jump since 2020—after activist investor Elliott Investment Management took a stake, prompting speculation of strategic changes, including board shakeups and a potential return to focusing more on fossil fuels.

Elliott Investment Stake Sends BP Shares Soaring

BP's shares surged 8%—its biggest jump since 2020—after activist investor Elliott Investment Management took a stake, prompting speculation of strategic changes, including board shakeups and a potential return to focusing more on fossil fuels.

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What is the immediate impact of Elliott Investment Management's investment in BP?

Elliott Investment Management's significant stake in BP has driven an 8% surge in BP's shares, the largest since 2020. Investors anticipate strategic overhauls, including board changes and a potential shift back toward fossil fuels, following years of underperformance.

theglobeandmail.com

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Feb 8, 16:08

Freeland's LNG Export Plan Faces Backlash Over Past Energy Policies

Liberal leadership candidate Chrystia Freeland's plan to export more liquefied natural gas (LNG) to allies is facing criticism for contradicting the government's past policies that limited energy exports, despite government support for some LNG projects.

Freeland's LNG Export Plan Faces Backlash Over Past Energy Policies

Liberal leadership candidate Chrystia Freeland's plan to export more liquefied natural gas (LNG) to allies is facing criticism for contradicting the government's past policies that limited energy exports, despite government support for some LNG projects.

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What are the immediate economic and political consequences of Chrystia Freeland's proposal to significantly increase Canada's LNG exports?

Chrystia Freeland, a Liberal leadership candidate, proposes boosting Canada's LNG exports to allies. This plan faces criticism due to the government's past decade of limiting energy exports, including shelving the Northern Gateway pipeline and enacting Bill C-48, which restricted tankers off British Columbia's northwest coast. Supporters of the plan, however, point to the government's purchase of the Trans Mountain pipeline as a counterpoint.

nrc.nl

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Feb 6, 04:09

ING Faces Lawsuit Over Allegedly Misrepresented Fossil Fuel Financing

Milieudefensie, citing a SOMO report, alleges ING's financing of new oil and gas fields is significantly higher than reported, reaching \$26.4 billion versus ING's claimed \$2.5 billion, leading to an impending lawsuit.

ING Faces Lawsuit Over Allegedly Misrepresented Fossil Fuel Financing

Milieudefensie, citing a SOMO report, alleges ING's financing of new oil and gas fields is significantly higher than reported, reaching \$26.4 billion versus ING's claimed \$2.5 billion, leading to an impending lawsuit.

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What is the key discrepancy between ING's reported fossil fuel financing and SOMO's findings, and what are the immediate implications?

Milieudefensie claims ING's financing of expanding oil companies is far greater than the bank admits, increasing despite its Paris Agreement commitment. SOMO's report, supporting this claim, shows financing of new oil fields at \$26.4 billion, exceeding ING's reported \$2.5 billion.

cbsnews.com

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Feb 4, 04:07

Senate Confirms Fossil Fuel Executive as Energy Secretary

The Senate confirmed Chris Wright, CEO of Liberty Energy, as President Trump's energy secretary, marking a significant shift towards prioritizing fossil fuel production and potentially impacting global climate change efforts; the vote was 59-38.

Senate Confirms Fossil Fuel Executive as Energy Secretary

The Senate confirmed Chris Wright, CEO of Liberty Energy, as President Trump's energy secretary, marking a significant shift towards prioritizing fossil fuel production and potentially impacting global climate change efforts; the vote was 59-38.

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How does Wright's appointment reflect President Trump's overall energy policy and its divergence from previous administrations?

Wright's appointment reflects President Trump's "energy dominance" agenda, prioritizing increased fossil fuel production over climate concerns. This contrasts sharply with the Biden administration's focus on climate action and could lead to increased greenhouse gas emissions. The new National Energy Council, focused on streamlining regulations and boosting domestic production, further underscores this policy change.

theguardian.com

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Feb 3, 13:11

Trump Halts US Clean Energy Development

President Trump's administration has suspended all clean energy development on federal lands, reversed car pollution standards, and halted funding for community solar projects, while simultaneously expanding fossil fuel extraction; this prioritization of fossil fuels over renewables contradicts the ...

Trump Halts US Clean Energy Development

President Trump's administration has suspended all clean energy development on federal lands, reversed car pollution standards, and halted funding for community solar projects, while simultaneously expanding fossil fuel extraction; this prioritization of fossil fuels over renewables contradicts the ...

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What are the immediate consequences of President Trump's executive orders on renewable energy development in the United States?

In his first two weeks, President Trump issued orders to increase fossil fuel extraction, withdraw from the Paris Agreement, and halt all clean energy development on federal land, prioritizing oil, gas, coal, and uranium. This directly impacts renewable energy projects, freezing \$7 billion in funding and halting wind and solar approvals.

Showing 121 to 132 of 235 results