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☆ How super-hot rocks miles under the earth's surface could provide limitless clean energy
▼ + stars: | 2022-10-28 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +12 min

The Clean Air Task Force commissioned a non-profit geothermal organization, the Hot Rock Energy Research Organization, and an international clean energy consultancy, LucidCatalyst, to estimate the levelized cost of commercial-scale superhot rock electricity. Graphic courtesy Clear Air Task ForceRegular versus superhot geothermalWhile energy from superhot rocks is not being used now, geothermal energy is being used in a few places where super-hot temperatures exist close to the surface of the earth. But accessing superhot rock energy involves tapping into hotter, dry rock — which is everywhere, but sometimes far beneath the surface. Graphic courtesy Clear Air Task ForceIceland is a leader in investigating superhot rock geothermal energy with its Iceland Deep Drilling Project. Beyond Iceland, Italy, Japan, New Zealand and the United States are leaders in superhot rock geothermal, according to Friðleifsson.

☆ How super-hot rocks miles under the earth's surface could help combat climate change
▼ + stars: | 2022-10-28 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +12 min

"It will take public and private investment similar to those being allocated to nuclear, carbon capture, and hydrogen fuels," Hill told CNBC. But accessing superhot rock energy involves tapping into hotter, dry rock — which is everywhere, but sometimes far beneath the surface. Graphic courtesy Clear Air Task ForceIceland is a leader in investigating superhot rock geothermal energy with its Iceland Deep Drilling Project. Beyond Iceland, Italy, Japan, New Zealand and the United States are leaders in superhot rock geothermal, according to Friðleifsson. Oil and gas companies could use their resources to help spur development in the superhot rock industry, the CATF report said.

☆ As Ukraine plans its recovery, a climate group has a seat at the table
▼ + stars: | 2022-10-25 | by ( Nidhi Sharma | Nidhi Sharma Is An Associate Producer With The Nbc News Climate Unit. | ) www.nbcnews.com time to read: +5 min

These are goals that the group says would put Ukraine in a position to no longer be dependent on fossil fuels. In rebuilding, the nation must decide whether it wants to return to fossil fuels, or build a cleaner, greener economy, Ustenko said. For some climate activists, Russia’s war in Ukraine has served as a call to action in a decadeslong climate emergency. Romanko said many nations have failed to do what is necessary: halt the use of all fossil fuels, as quickly as possible. She cited the plans released in March by the International Energy Agency to cut reliance on Russian fossil fuels, and fossil fuels overall, in 10 steps; no government has implemented these strategies, she said.

☆ Philippines sees room for LNG despite renewables push
▼ + stars: | 2022-10-23 | by ( Enrico Dela Cruz | ) www.reuters.com time to read: +2 min

MANILA, Oct 23 (Reuters) - The use of LNG imports for power generation in the Philippines next year should not be a disincentive for investors in renewables, the country's energy chief said on Sunday. The government, which is targeting annual economic growth of 6.5% to 8% between 2023 and 2028, has stopped accepting new proposals for coal-based power projects to support investment in renewables and natural gas. It aims to increase the share of renewable energy sources such as solar, wind and tidal in the energy mix to 35% by 2030 and to 50% by 2040, up from a little more than 20% last year. Lotilla also expressed support for nuclear power, though he said the plan requires legislation on the legal and regulatory framework. "There is room for more sources of energy."

☆ Energy and security on agenda when Australia, Japan leaders meet
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +3 min

Japan's Prime Minister Fumio Kishida delivers a policy speech during an extraordinary session at the lower house of parliament in Tokyo, Japan October 3, 2022. "Australia is the most important country for Japan's energy policy," Kishida told reporters in Tokyo on Friday before boarding a plane for Perth. Australia and Japan are also expected to sign a new security cooperation agreement, updating a pact struck in 2007, to respond to a significantly altered regional security environment, officials said. "As Australia seeks to become a clean energy superpower, we will remain a steady and reliable supplier of energy to Japan including for new energy sources like hydrogen," Albanese said in a statement this week. Australia and Japan are also members of the Quad group of nations, with the United States and India.

☆ Aussies put net-zero nationalisation on the map
▼ + stars: | 2022-10-21 | by ( Antony Currie | ) www.reuters.com time to read: +4 min

MELBOURNE, Oct 21 (Reuters Breakingviews) - Nationalisation and capitalism are supposed to be like chalk and cheese. He also accused privately run energy generators of reaping huge profits “at our collective expense” without helping to achieve net-zero goals. If done right — and the details will be key — other governments facing similar net-zero challenges can take note. His plan involves restoring the State Electricity Commission to build new renewable energy projects. The SEC has not been involved in building energy projects since 1993 when the state’s energy assets were privatised.

☆ Fracking: What's all the fuss about it in the UK?
▼ + stars: | 2022-10-20 | by ( Reuters Christian Edwards | Christian Edwards | ) edition.cnn.com time to read: +5 min

Fracking, or hydraulic fracturing, involves drilling into the Earth and injecting water and chemicals at high pressure to break rocks and release the gas trapped inside. Since only few test wells have been drilled, there are no estimates of proven reserves to confidently predict how much shale gas would be technically and economically viable to extract by fracking. Cuadrilla, 96% owned by Australia’s AJ Lucas, was the only one of these firms to receive consent to begin fracking. Former British Chancellor Kwasi Kwarteng said in March when he was Business and Energy secretary gas fracking would not lead to lower British gas prices. “With the best will in the world, private companies are not going to sell the shale gas they produce to UK consumers below the market price,” he tweeted.

There is still scope for positive economic news to come out of the gathering, but the main impact is that there is little immediate upside to China's demand for commodities. China is also likely to be looking at ways of reducing its reliance on imported crude oil, and the energy transition does offer some answers. Rising sales of electric vehicles likely means China's demand for battery metals such as lithium, cobalt and nickel is likely to increase over the longer term. Iron ore, battery metals, copper and natural gas are commodities where China's demand is likely to substantially exceed available domestic supply. An accelerated energy transition is also likely to boost demand for these commodities, while cutting demand for crude oil and coal.

☆ Xi vows to prioritise environment, protect nature and promote green lifestyles
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 16 (Reuters) - President Xi Jinping on Sunday said China will give priority to environmental protection and promoting green lifestyles, and that the conservation of nature was an essential part of building a modern socialist country. "Ecological and environmental protection has undergone a historical, transformational and comprehensive change - our motherland's skies are bluer, the mountains are greener and the water is clearer," Xi told more than 2,300 delegates. Xi vowed last year China - the world's biggest source of climate-warming greenhouse gases - would achieve carbon neutrality by 2060 after bringing emissions to a peak by the end of this decade. He told delegates China's carbon peak and neutrality targets would be implemented steadily and in accordance with the country's energy resources. China will support low-carbon industries, pursue an "energy revolution" and build a new energy system while continuing to promote the "clean and efficient use of coal", Xi said.

☆ Factbox: Key Xi quotes at China's 20th Communist Party Congress
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +6 min

Chinese President Xi Jinping speaks during the opening ceremony of the 20th National Congress of the Communist Party of China, at the Great Hall of the People in Beijing, China October 16, 2022. Register now for FREE unlimited access to Reuters.com Register"We persist in striving for the prospect of peaceful reunification with the greatest sincerity. "Corruption is the biggest cancer that harms the vitality and combat effectiveness of the party, and anti-corruption is the most thorough self-revolution. FOREIGN POLICY"We have comprehensively promoted major-country diplomacy with Chinese characteristics ... and unswervingly opposed any unilateralism, protectionism and bullying. POPULATION"We will establish a policy system to boost birth rates and pursue a proactive national strategy in response to population ageing."

☆ Germany needs to tackle inflation threat, wants transparency from China - Lindner
▼ + stars: | 2022-10-13 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Inflation can bring that foundation to erosion," Lindner said in Washington. Speaking alongside Bundesbank President Joachim Nagel, Lindner said Germany has the means to address its weaknesses, including by investing in alternative energy resources. China has argued it would not take part in some cases unless the IMF and World Bank also took a haircut. "I have used the opportunity again to remind creditors, in particular China, of their own responsibility," Lindner said. It's regrettable that China did not accept the invitation to participate in the G7 roundtable with African countries.

They heat their home mainly with fuel oil, which costs them $4.57 a gallon, up from around $3.10 last year. Duke Energy customers in Indiana were recently hit with a 7% hike after a temporary 16% increase just this summer. Fuel oil customers often must pay for deliveries up front, and many suppliers have been less willing to offer payment plans because of market volatility, experts said. “I don’t have savings, period.”Brickey and Parks applied for LIHEAP assistance through District Three, a government cooperative geared toward senior citizens in southwest Virginia. They had three months of electricity paid for this past summer, along with $800 worth of fuel oil assistance last winter.

☆ EU crisis opens opportunity for Australian green energy exports -Fortescue
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Oct 13 (Reuters) - The energy crisis in Europe presents a huge opportunity for Australia to export more green energy, the chief financial officer at Fortescue Future Industries (FFI) said on Thursday. European nations are pushing to boost renewable energy resources amid an energy crisis to move away from Russian gas. read more"There is a huge opportunity for us to export green energy into Europe ... They are absolutely demanding it," said Guy Debelle, chief financial officer at Fortescue Future Industries, at the Citi Annual Investment Conference in Sydney. Fortescue signed a memorandum of understanding with Germany's largest energy group E.ON (EONGn.DE) earlier this year to explore shipping green hydrogen.

☆ Germany needs to tackle inflation threat, wants fairness from China - Lindner
▼ + stars: | 2022-10-13 | by ( Andrea Shalal | ) www.reuters.com time to read: +1 min

"Inflation is the biggest danger for our economic foundation, inflation can bring that foundation to erosion," Lindner said in Washington. Register now for FREE unlimited access to Reuters.com RegisterThe latest forecasts suggest Germany is on the brink of recession and the central bank sees inflation staying at over 7% next year. Speaking alongside Bundesbank President Joachim Nagel, Lindner said German growth had slipped behind other countries because it was especially vulnerable to Europe's energy crisis and supply chain disruptions. Germany has the means to address its weaknesses, including by investing in alternative energy resources, Lindner said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal; writing by Matthias Williams, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

☆ Putin says Russia not working 'against anyone' in energy markets
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

Oct 11 (Reuters) - President Vladimir Putin said on Tuesday that Russia was not working against anyone on energy markets, a week after Washington criticised a decision by OPEC+ to steeply cut oil production. Speaking with the United Arab Emirates' President Sheikh Mohammed bin Zayed al-Nahyan, Putin said Russia aimed to create stability on energy markets and ensure that supply and consumption were balanced. Register now for FREE unlimited access to Reuters.com Register"Our actions are aimed at creating stability in the global energy markets, so that both consumers of energy resources and those involved in production, suppliers to the global markets feel calm, stable and confident. U.S. President Joe Biden has called on his administration and Congress to explore ways to boost U.S. energy production and reduce OPEC's control over energy prices after the cartel's "shortsighted" production cuts. The Kremlin on Sunday praised OPEC+ for agreeing production cuts that it said had successfully countered the "mayhem" sown by the United States in global energy markets.

☆ Factbox: Automakers accelerate drive to secure battery raw materials
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +7 min

read more08-Dec-2021 - Belgium's Umicore (UMI.BR) will supply cathode materials for Volkswagen's European battery cell factories under a joint venture. MERCEDES BENZ (MBGn.DE):23-Aug-2022 - Mercedes-Benz strikes cooperation agreement with Canada to secure access to lithium, nickel and cobalt. read more04-Oct-2021 - BHP Group (BHP.AX) will supply nickel sulphate from Western Australia to Toyota and Panasonic's joint venture. read moreFORD (F.N)22-July-2022 - Ioneer Ltd signs binding offtake agreement with Ford to supply lithium from Rhyolite Ridge in Nevada. read more22-Sept-2021 - Ford partners with startup Redwood Materials to form a "closed loop" or circular supply chain for electric vehicle batteries, from raw materials to recycling.

☆ Stellantis, GME Resources seal nickel and cobalt deal for battery production
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

PARIS, Oct 10 (Reuters) - Carmaker Stellantis (STLA.MI) has signed a non-binding preliminary agreement with GME Resources (GME.AX) to secure supplies of nickel and cobalt sulphate for electric vehicle (EV) batteries, the two companies said on Monday. read moreEarlier this year the Franco-Italian group signed a lithium supply agreement with developer Vulcan Energy Resources (VUL.AX) and said it would invest 50 million euros ($48.6 million)to buy an 8% stake in it. read moreRegister now for FREE unlimited access to Reuters.com RegisterStellantis and the GME mining company said in a statement on Monday that the memorandum "represents the first step toward a potential long-term partnership,". The supply will come from a nickel and cobalt advanced mining project in Western Australia called "NiWest", which GME is currently developing, with a planned production of around 90,000 tonnes per year of battery-grade nickel and cobalt sulphate. Stellantis Chief Purchasing and Supply Chain Officer Maxime Picat said that securing the raw material sources and battery supply would strengthen the group's value chain for EV production and support its decarbonisation target.

☆ BlackRock's US head of thematic exchange-traded funds shares 3 sectors to invest in to fight inflation and set your portfolio up for long-term gains
▼ + stars: | 2022-09-27 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +5 min

Jacobs shared three inflation-resistant sectors to invest in for long-term gains. It's no different for Jay Jacobs, the US head of thematics and active equity exchange-traded funds at BlackRock, which manages $10 trillion in assets. Due to rising food prices, Jacobs also believes that agricultural technology firms focused on food innovation are another long-term beneficiary of lofty inflation levels. According to Jacobs, most costs are upfront for greener energy solutions, like the cost to build a wind turbine or solar panel. These include tax policies favoring renewable energy solutions, growing energy demand from consumers for cleaner options like electric vehicles, and the fact that renewable energy is often inherently cheaper than the electricity generated from fossil fuels.

☆ Greek PM tells Turkish people 'we are not enemies'
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +3 min

Greece Prime Minister Kyriakos Mitsotakis addresses the 77th United Nations General Assembly at U.N. headquarters in New York City, New York, U.S., September 23, 2022. This is the language of an aggressor," Mitsotakis said, during his address to the United Nations General Assembly. Register now for FREE unlimited access to Reuters.com Register"From the UN I would like to address ... the Turkish people directly: Greece poses no threat to your country. Greece complained to NATO and the United Nations this month over what it called "inflammatory" statements by Turkish President Tayyip Erdogan. read moreGreece says Turkey is challenging the Greek sovereignty of the islands and is exploiting the migration issue.

☆ European governments spend half a trillion euros on energy crisis - report
▼ + stars: | 2022-09-21 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

Months of surging prices have seen governments roll out measures to curb retail power prices, slash energy taxes and give subsidies to bill-payers. If the cash governments have earmarked to nationalise, bail out or provide loans to ailing energy utilities was included, then EU governments have spent closer to 450 billion euros, the think-tank said. "Governments with more fiscal space will inevitably better manage the energy crisis by outcompeting their neighbours for limited energy resources over winter months." Germany, the EU's biggest economy, is by far the biggest spender in the bloc - setting aside 100 billion euros, versus 59 billion euros in Italy, or 200 million euros in Estonia, for example. The EU last week proposed bloc-wide measures to respond to sky-high energy prices, in a bid to overlay the patchwork of national responses with a coordinated reaction.

PARIS/MADRID/BERLIN (Reuters) - European governments outlined new measures on Monday to cope with potential energy shortages this winter and raced to improve energy networks to share power, with Russian gas flows still running at severely reduced rates amid the Ukraine war. German buyers briefly reserved capacity on Monday to receive Russian gas via the Nord Stream 1 pipeline, once one of Europe’s major gas supply routes, for the first time since the line was shut three weeks ago. European politicians say that is a pretext and accuse Moscow of using energy as a weapon. Russian gas flows to Europe via Ukraine, although much reduced, have nevertheless continued. ‘NEVER’While French energy group EDF is racing to repair corrosion-hit nuclear reactors, “exceptional” measures this winter could include localised electricity cuts if the winter is cold and EDF’s plans are delayed, Wargon said.

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