Energy & the Environment News and Discussions

weatheriscool
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Oil prices surge above $100 a barrel as war on Ukraine rages
Source: AP

By DAMIAN J. TROISE
NEW YORK (AP) — Oil prices soared Tuesday and investors shifted more money out of stocks and into ultra-safe U.S. government bonds as Russia stepped up its war on Ukraine.

Stocks fell as investors tried to measure how the conflict will impact the global economy. The S&P 500 index fell 1.6% as of 12:04 p.m. Eastern. The Dow Jones Industrial Average fell 687 points, or 2%, to 33,204 and the Nasdaq fell 1.5%.

The bigger moves came from the markets for oil, agricultural commodities and government bonds. Oil has been a key concern because Russia is one of the world’s largest energy producers. The latest bump in prices increases pressure on persistently high inflation that threatens households around the world.

U.S. benchmark crude oil prices jumped 10.6% to $105.82 per barrel, reaching the highest price since 2014. Brent crude, the international standard, surged 9% to $106.82.
Read more: https://apnews.com/article/russia-ukrai ... 64c18c6404
weatheriscool
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Germany prepared to stop buying gas from Russia

Pedro Goncalves · Finance reporter
Wed, March 2, 2022, 6:58 AM

Germany is ready should Russia stop exporting gas to the country as Berlin develops a new energy battle plan to end that reliance.

The country’s economy minister told Deutschlandfunk radio that in the case that Russia cuts off its gas supply, Germany was ready to boost strategic reserves.

“We are prepared for that. I can give the all-clear for the current winter and summer,” Robert Habeck said.

"For the next winter, we would take further measures," he added.
{snip}

Read more: https://finance.yahoo.com/news/germany- ... 22753.html
weatheriscool
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Study of algae in Acadia National Park lakes shows recovery from acidification
https://phys.org/news/2022-03-algae-aca ... overy.html
by University of Maine
Acadia National Park is known for its beautiful lakes—and they can tell scientists a lot about the health of the environment. New research shows that regulations to reduce human-caused sulfur in the atmosphere have made a difference for lakes in Acadia National Park, though climate change may slow that recovery.

Research from the 1990s showed that human-caused atmospheric pollution in the 20th century caused the acidification of lakes across eastern North America starting in the 1940s. Acidification of lakes causes the decrease of dissolved organic carbon in lakes, which impacts lake ecology and makes water appear clearer.

Since the Clean Air Act Amendments were federally enacted in 1990, the northeastern United States has received significantly less atmospheric acid depositions with the goal of restoring ecosystems like lakes that were impacted by the pollution. However, climate change can also impact lake water clarity, as rising temperatures drive the production and release of dissolved organic carbon, while shifts in precipitation caused by climate change also can bring in more organic matter.

Researchers from the University of Maine and the National Park Service wanted to see how these changing acidification dynamics were affecting the ecosystems in different types of lakes in Maine. In an article published in the Journal of Paleolimnology, scientists reconstructed historical pigment records of algae and diatoms—a particular type of algae with a silica shell, which is usually negatively impacted by acidification—from two lakes in Acadia National Park, Jordan Pond and Seal Cove Pond.
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Yuli Ban
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Gas prices are surging, with the national average now at the highest in nearly a decade. The rapid ascent is pinching consumers’ pockets, and experts say there may be little end in sight.

The national average for a gallon of regular gas stood at $3.83 on Friday, the highest since Sept. 21, 2012, according to data from AAA. Prices are rising at a fast clip, with Friday’s average nearly 11 cents a gallon above Thursday’s. Americans are paying about 27 cents more than last week, and 41 cents more than a month ago.

In some places consumers are paying a lot more. In California, the state average is now $5.07 per gallon.

The surge in prices has become a headache for President Joe Biden whose administration has vowed for months that it’s working to combat high prices at the pump.
And remember my friend, future events such as these will affect you in the future
weatheriscool
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Biden is expected to ban Russian oil imports into the United States.
Source: New York Times
WASHINGTON — President Biden is expected on Tuesday morning to ban the importation of Russian oil into the United States, a senior administration official said, making the move after pressure from lawmakers in both parties to punish Russia for its invasion of Ukraine.

Mr. Biden is scheduled to make the announcement at 10:45 a.m. Tuesday from the White House.
Read more: https://www.nytimes.com/live/2022/03/08 ... ted-states
weatheriscool
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Canada Says Its Oil Could Replace US Imports Of Russian Crude, All It Would Take Is Approval Of The Keystone XL Pipeline
Mar 07, 2022

https://oilprice.com/Energy/Crude-Oil/C ... Crude.html
Canada’s oil could replace American imports of Russian crude, the top officials of the oil-producing province Alberta said this weekend.

As talks about banning Russian oil imports in the United States and its European allies intensify, reports have started to emerge that the U.S. Administration could be looking to persuade Saudi Arabia to pump more oil or lift some sanctions on Venezuela to help fill the gap that a Russian oil embargo would open.

On Sunday, U.S. Secretary of State Antony Blinken said that the United States and its European allies were in “very active discussions” about banning the import of Russian oil over Putin’s war in Ukraine.

Even without sanctions on Russian oil, some of the biggest U.S. importers of Russian crude oil have started suspending their purchases of the commodity.

Canada has long pitched its crude as one that is not produced in rogue government regimes such as Venezuela, Iran, or Russia, and Alberta’s top officials now say that its crude could be the answer to more supply from allied nations to the United States.

Retweeting Elon Musk’s comments that “we need to increase oil & gas output immediately,” Alberta’s Energy Minister Sonya Savage said on Saturday:

“Agreed. And it should come from Alberta, home of the 3rd largest oil reserves. Alberta is the answer to US Energy security. Real emissions reductions, reliable, right next door............
weatheriscool
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Russia Resorts to Desperate Threats to Cut Off Europe's Gas Supply
https://www.thedailybeast.com/russia-re ... y?ref=home
Russia has lashed out with a threat to cut off Europe’s gas supply if Western allies push ahead with further sanctions. The U.S. has urged its European allies to ban Russian oil imports over Vladimir Putin’s invasion of Ukraine, but the Kremlin said it would retaliate if any such move went ahead. Speaking on state television, Deputy Prime Minister Alexander Novak warned that a ban on Russian oil would lead to “catastrophic consequences” for global energy prices, and said the Kremlin was prepared to “impose an embargo on gas pumping through the Nord Stream 1 gas pipeline,” which carries natural gas from Russia to Germany. Last month, Germany halted the certification of $11 billion Nord Stream 2 pipeline in a previously unthinkable economic sanction against Russia.
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caltrek
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Post by caltrek »

This article is a little dated, but relevant to recent discussions regarding the impact on energy markets and gas prices brought on by the invasion...err...I mean Russia's "special military operation" in the Ukraine.

New Report Shows that Renewables Were the World’s Cheapest Source of Energy in 2020
by July 5, 2022


https://www.weforum.org/agenda/2021/07/ ... or%202019.

Introduction:
(World Economic Forum)
  • The cost of renewable technologies like wind and solar is falling significantly, according to a new report.
  • This is fuelling the rise of renewables as the world’s cheapest source of energy.
  • The cost of large-scale solar projects has plunged 85% in a decade.
  • Retiring costly coal plants would also cut around three gigatonnes of CO2 a year.
Don't mourn, organize.

-Joe Hill
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caltrek
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Post by caltrek »

I actually found this after my last post.

Fossil Fuels Cause Global Crises and Do Not Fix Them
by Wenonah Hauter
March 11, 2022

https://www.commondreams.org/views/2022 ... t-fix-them

Introduction:
(Common Dreams) Amid the mounting crisis in Ukraine, fossil fuel giants and an array of political leaders are using the guise of "global security" to promote an agenda that strengthens the dominance of dirty energy for decades to come.

The industry and their Congressional allies have responded by rehashing inaccurate complaints that President Biden is refusing to open up more land to drilling and fracking. Other voices are chiming in to say we should expedite the increased flow of fracked gas to European countries as they attempt to move off of Russian gas. And the White House, in response to bipartisan efforts in Congress, announced a ban on Russian oil imports.

Increasing fossil fuel production will not make the world safer, or provide any short-term relief for families struggling to pay sky-high energy or gas bills; it will only exacerbate the already rapidly escalating climate crisis. To enhance domestic, European, and global security, it's time to aggressively promote energy efficiency and conservation while quickly deploying renewable energy and moving off fossil fuels.

The threats from climate chaos are well-known by now; we just received another dire warning from the Intergovernmental Panel on Climate Change. The scientific panel's report, in the words of its chair Hoesung Lee, laid out how "climate change is a grave and mounting threat to our wellbeing and a healthy planet."

The report explained in great detail the impact our fossil fuel-based economy is having on the environment and people living in it, from loss of biodiversity to acute food insecurity for millions of people.
Don't mourn, organize.

-Joe Hill
weatheriscool
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Average US gas price rises 22% in two weeks to record $4.43
Source: AP

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline shot up a whopping 79 cents over the past two weeks to a record-setting $4.43 per gallon (3.8 liters) as Russia’s invasion of Ukraine is contributing to already-high prices at the pump.

Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday the new price exceeds by 32 cents the prior all-time high of $4.11 set in July 2008. But that’s still quite a ways from the inflation-adjusted record high of about $5.24 per gallon.

The price at the pump is $1.54 higher than it was a year ago.

Lundberg said gas prices are likely to remain high in the short term as crude oil costs soar amid global supply concerns following Russia’s invasion of Ukraine.


Read more: https://apnews.com/article/gas-prices-r ... 5b99fef112
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