The European Union would endure a short and painful transition if it halted Russian oil and coal imports, but with the help of its international partners the bloc could end its dependence on Moscow, a new study shows.
Energy Secretary Jennifer Granholm and Senator Joe Manchin announced a program to develop lithium batteries in the U.S. as part of a broader strategy to help Appalachia amid a transition away from coal.
Soaring U.S. energy prices are hitting all modes of transport, squeezing smaller shipping lines amid already-volatile ocean rates, as well as truckers who have to contend with delays in clawing back higher costs.
Russia announced an export ban for more than 200 products after the economy was hit by sanctions over the invasion of Ukraine. It stopped short of curbing sales of energy and raw materials, the country’s biggest contribution to global trade.
Any increased capital spending by U.S. oil and gas producers in response to the surge in crude price should help soften the blow to the economy from an expected pullback in consumer spending. It just won’t be anytime soon.
The war in Ukraine has already revealed that the modern financial system can be weaponized in ways never before seen. Now the same might be true of the energy transition.
The Biden administration is moving to enact stringent new emissions regulations for large trucks that have been operating for more than a decade under standards environmentalists complain are too lax.
With oil costing more than $100 a barrel, and Russia’s war in Ukraine underscoring the risk of relying on fossil fuel, it would seem like a great time to speed up the transition away from the polluting fuel. The reality isn’t so simple.
First BP, then Shell. In just two days, Britain’s twin energy giants have dumped Russian investments nurtured over decades and shut themselves out of the world’s largest energy exporter, probably forever.
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