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☆ Columbia University's Jason Bordoff on the fate of energy flows amid green transition, Ukraine war
▼ + stars: | 2023-01-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailColumbia University's Jason Bordoff on the fate of energy flows amid green transition, Ukraine warJason Bordoff, founding director of the Center on Global Energy Policy at Columbia University, speaks on how the green transition, underinvestment and the Ukraine war affect energy flows.

☆ The U.S. passed a historic climate deal this year — here's a recap of what's in the bill
▼ + stars: | 2022-12-30 | by ( Emma Newburger | ) www.cnbc.com time to read: +11 min

The IRA's provisions have major implications for clean energy and manufacturing businesses, climate startups and consumers in the coming years. As 2022 comes to a close, here's a look back at the key elements in the legislation that climate and clean energy advocates will be monitoring in 2023. Taking aim at methane gas emissionsSome pumpjacks operate while others stand idle in the Belridge oil field near McKittrick, California. Mario Tama | Getty ImagesThe package imposes a tax on energy producers that exceed a certain level of methane gas emissions. And the bill has a hydrogen production tax credit, which provides hydrogen producers with a credit based on the climate attributes of their production methods.

[1/3] A general view of hydrogen electrolysis plant called 'REFHYNE', one of the world's first green hydrogen plants, during a launch event at Shell's Rhineland refinery in Wesseling near Cologne, Germany, July 2, 2021. REUTERS/Thilo SchmuelgenLONDON, Dec 22 (Reuters) - The green hydrogen express is gathering pace, but it may have a worrying problem with leaks. At least four studies published this year say hydrogen loses its environmental edge when it seeps into the atmosphere. The United States included billions of dollars of green hydrogen tax credits in its Inflation Reduction Act and the European Union approved 5.2 billion euros ($5.5 billion) in subsidies for green hydrogen projects in September. While potential leakages of hydrogen are not expected to be on a scale that could derail all green hydrogen plans, any seepage would erode its climate benefits, they say.

U.S. scientists have achieved “ignition” — a fusion reaction that produced more energy than it took to create — a critical milestone for nuclear fusion and a step forward in the pursuit of a nearly limitless source of clean energy, Energy Department officials said Tuesday. The process imploded a tiny capsule inside the hohlraum that is filled with deuterium and tritium, creating a fusion reaction. Lawrence Livermore National Laboratory"We have taken the first tentative steps toward a clean energy source," said Jill Hruby, the Energy Department's National Nuclear Security Administration. The Inflation Reduction Act provided millions in new funding for fusion projects and the White House this year convened the first fusion summit and developed a 10-year plan to commercialize fusion technology. A technician reviews an optic inside the preamplifier support structure at the Lawrence Livermore National Laboratory in Livermore, Calif., in 2012.

☆ Gulf states, looking East, to reinforce economic ties with China as Xi visits Saudi
▼ + stars: | 2022-12-06 | by ( Rachna Uppal | ) www.reuters.com time to read: +5 min

Saudi Arabia is China's top oil supplier, making up 18% of China's total crude oil purchases, and state-run Saudi Aramco has annual supply deals with half a dozen Chinese refiners. Outside energy, Gulf Cooperation Council (GCC) states provide markets for Chinese goods, construction contracts and investment opportunities in infrastructure, manufacturing and digital economies that fit Beijing's Belt and Road Initiative. Saudi Arabia and the UAE are also investing in future technologies as a pillar of economic diversification, which has gained impetus in a global transition away from fossil fuels. Online giant Alibaba has partnered with STC Group for cloud services in Saudi Arabia. BALANCING ACTHow Saudi Arabia and other Gulf states handle both Chinese and Western supply chains in sensitive areas like critical national infrastructure is likely to remain a point of friction with key security partner the United States, analysts say.

☆ Gulf Arab states can’t give up oil. But they can slash their emissions
▼ + stars: | 2022-11-11 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +15 min

Abu Dhabi CNN —As Western states try to wean themselves off their addiction to hydrocarbons, Gulf oil nations have been pushing back hard, warning that a hasty transition away from fossil fuels will be counterproductive. According to the World Bank, Qatar had the highest carbon emissions per capita as of 2019, followed by Kuwait, Bahrain, the United Arab Emirates and Saudi Arabia. So, investment in clean energy projects and renewables “makes very good business sense and PR sense for the Gulf,” he said. Gulf petro-states are warning against a quick transition away from hydrocarbons, with the UAE calling for a “mixed energy” approach that minimizes emissions without cutting hydrocarbons. Much of the hydrocarbons exported by Gulf states go to some of the world’s biggest consumers and polluters, including China and India.

☆ Europe still can't live without Russian LNG exports
▼ + stars: | 2022-11-09 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN Business —Europe may be closer than ever to breaking its energy dependence on Moscow, but it still can’t live without one type of Russian natural gas. Russian imports doubled in the year to September to 1.2 million tons, Rystad data shows. The majority of the Russian LNG imports come from privately owned Novatek, the country’s second-largest natural gas producer after Gazprom. “I expect that Russian LNG will continue to play an important role in filling European storage going into winter of 2023,” he told CNN Business. “[Europe] would rather get whatever [it] can in terms of Russian pipeline gas and Russian LNG… it would take a lot before [it] would think about sanctioning gas or LNG from Russia,” Ramesh said.

☆ Fact Check-EIA’s ‘days of supply’ figure does not show that the United States will ‘run out of diesel by Thanksgiving week’ in 2022
▼ + stars: | 2022-11-08 | by ( Reuters Fact Check | ) www.reuters.com time to read: +4 min

The claim was highlighted by conservative political commentator Tucker Carlson, who mentioned it during a segment of his show on Oct. 27 (youtu.be/lUZoli8oekg?t=181)“This country is about to run out of diesel fuel. According to data from the Energy Information Administration by the Monday of Thanksgiving week, that’s 25 days from now, there will be more no more diesel,” he said. EIA DATAThe EIA data for the week ending October 28 showed the United States had “25.8 days” of supply of total distillate. “Days of supply does not consider other sources like the amount of distillate fuel being produced at U.S. refineries and the amount of distillate fuel imported into the United States,” they said. The United States will not “run out of diesel” by the Monday of Thanksgiving week in 2022, industry experts told Reuters.

☆ Russia's liquefied natural gas exports are near a record high, as the realities of a harsh winter eat away at countries' promises to curb their dependence on Moscow
▼ + stars: | 2022-11-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Russia's LNG exports rose 1.1% on-year to a record high of nearly 4.3 billion cubic meters in October. The EU is replacing piped Russian gas with imported LNG cargoes, which could pose a political risk. This gas supply has ceased indefinitely after an 'unprecedented sabotage' of the pipelines that transport natural gas from Russia to Germany. The EU imported 54.2 billion cubic meters of Russian piped gas in the first nine months of 2022 and 105.7 billion cubic meters in the same period of 2021, per Politico. But the EU snapping up Russian LNG still still leaves it vulnerable potential political ramifications from the Russia-Ukraine war.

☆ America and Saudi Arabia are locked in a bitter battle over oil. The stakes are massive
▼ + stars: | 2022-10-28 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN Business —The relationship between the United States and Saudi Arabia is one of the most important on the planet. Biden visited Saudi Arabia over the summer and even fist-bumped Crown Prince Mohammed bin Salman. Saudi Arabia could respond to penalties from Washington with drastic steps of their own, ratcheting up the conflict further. Saudi Arabia is sitting on roughly $119 billion of US debt, according to Treasury Department data, making it the world’s 16th largest holder of Treasuries. All of this explains why a full-blown breakdown in relations between the United States and Saudi Arabia may be the last thing the fragile economy needs right now.

And demand for the greener fuel has dried up, according to Reuters interviews with nine LNG market analysts, industry officials and traders. Several gas drillers, including in the world’s top gas producer the United States, told Reuters they have invested in finding and plugging greenhouse gas emissions associated with production, transport and processing. Since Russia's Feb. 24 invasion of Ukraine, gas prices have soared about 25% in the United States and 32% in Europe . To export gas, the fuel must be supercooled into LNG and then shipped across the sea, a process that produces substantial additional greenhouse gas emissions. Other U.S. LNG suppliers, like Cove Point LNG and Cameron LNG, also told Reuters they are not certifying their cargoes.

☆ Westinghouse deal will overpower immediate fallout
▼ + stars: | 2022-10-12 | by ( Robert Cyran | ) www.reuters.com time to read: +4 min

NEW YORK, Oct 12 (Reuters Breakingviews) - A mushroom cloud is rising over a $7.9 billion nuclear deal. Brookfield Renewable Partners (BEP.N) and Cameco (CCO.TO)agreed to buy Westinghouse Electric, sending the Canadian uranium miner’s shares tumbling by 15% on Wednesday. All told, this nuclear deal should be able to power through the immediate fallout. Brookfield Business Partners bought the company in 2018, after Westinghouse filed for bankruptcy protection from creditors the previous year. Brookfield Business Partners said it expects proceeds from the deal to equal six times its invested capital when combined with distributions received to date.

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