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04/05/2022
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By News Editors
President Putin’s full remarks at the oil for ruble announcement
Today I have signed an Executive Order that establishes the rules for trade in Russian natural gas with so-called unfriendly states. We offer counterparties from such countries a clear and transparent scheme. To purchase Russian natural gas, they must open ruble accounts in Russian banks. It is from these accounts that payment will be made […]
04/04/2022
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By JD Heyes
IT BEGINS: Russian gas giant halts shipments to Europe through key pipeline after German CEO warns of impending economic “catastrophe”
Economic fallout between Russia and the rest of Europe worsened on Saturday after a Russian energy giant decided to cut off natural gas to the continent that flowed through a major pipeline. The action by Gazprom to shut down the Yamal-Europe pipeline, a crucial artery for energy flows, came just a day after European countries […]
03/30/2022
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By Ramon Tomey
Biden administration wants to SCRAP more than $45 billion in tax credits for domestic fossil fuels
President Joe Biden plans to scrap more than $45 billion tax credits for the domestic fossil fuel industry. The proposal serves as another blow to an industry already reeling because of Biden’s executive orders. According to the White House budget proposal published on March 28, the Biden administration plans to remove more than a dozen […]
03/23/2022
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By Arsenio Toledo
Production costs in Germany rise by record-breaking 25.9% due to ongoing energy crisis
German producers reported a record-breaking rise in factory gate costs of 25.9 percent year-on-year for February, pushed upward mainly due to the ongoing energy crisis caused by Germany’s green policies and the war in Ukraine. This data is according to the Federal Statistics Office, a German federal authority responsible for collecting statistical information. The office added that […]
03/16/2022
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By Arsenio Toledo
European countries mull increasing investment in fossil fuels to maintain energy security
European countries are considering increasing their investments in fossil fuels to maintain energy security. In recent years, many European countries – as well as nations in other parts of the world – have carried out programs to lessen the consumption of fossil fuels in favor of investing in more renewable energy sources like wind and solar. […]
03/04/2022
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By Cassie B.
Energy markets in turmoil as European gas climbs 60%
Commodity markets have been experiencing a huge upheaval thanks to President Vladimir Putin’s invasion of Ukraine, with European natural gas rising by as much as 60 percent on Wednesday as Russia’s descent into a commercial pariah continues. Dutch gas, the European benchmark, climbed to a record high of nearly 195 Euros per megawatt-hour at one […]
03/03/2022
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By Kevin Hughes
US oil prices rise to a 7-year high as conflict between Russia and Ukraine continues
As Russia continued its assault on Ukraine’s capital Kiev, oil prices continued to rise Tuesday, March 1, with the U.S. crude reaching its highest level since June 2014. West Texas Intermediate crude futures, the U.S. oil benchmark, surged 11.5 percent to $106.78 per barrel at its peak for the day. It dropped during the afternoon trading and […]
02/04/2022
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By Cassie B.
Cyberattacks hit German oil companies and European oil port terminals
Less than a year after America’s biggest refined petroleum pipeline was the subject of one of the most harmful hacks ever seen in the oil market, Germany’s domestic fuel distribution system has been disrupted by cyberattacks of its own. On January 29, oil trader Mabanaft, a distributor of diesel, gasoline and heating oil, declared force […]
01/07/2022
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By Ramon Tomey
Kosovo BANS crypto mining in order to save energy during power shortage
The southeastern European nation of Kosovo imposed a ban on cryptocurrency mining to reduce its energy consumption. The ban enacted Jan. 4 came amid the former Yugoslavian territory facing its worst power shortage in decades. In a statement, Kosovar Economy and Energy Minister Artane Rizvanolli said: “All law enforcement agencies will stop the production of […]
12/29/2021
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By JD Heyes
European energy price spikes lead to “national crisis” in the UK as colder-than-normal temperatures continue to grip continent
All Europeans are facing steep price increases this year thanks in large part to geopolitics and an overreliance on ‘green’ energy like wind and solar, but the situation in the United Kingdom is becoming particularly dire. The most recent increase in natural gas prices in the UK has been labeled a “national crisis” by several […]
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