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The World Energy Balance is Changing before Our Eyes

On winter’s eve, Europe found itself in an unprecedented energy crisis. The oversupply of fuel observed over the past two years, leading to lower prices, was quickly replaced by an unparalleled shortage which shocked the continent’s electricity production and hit the lives of ordinary citizens. The energy crisis that gripped …

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Is Fusion Power the Future of Clean Energy?

Have you ever heard about China’s Artificial Sun? What was the first picture that came to your mind when you got to know about this seeming extraordinary feat? Did you imagine another huge glowing orange glob of fire hoisted in the skies of the Asian nation? Well, if you could …

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World Leaders have to Face the Truth about Oil Demand

“Our products make the world run.” This is what Chevron’s chief executive Mike Wirth said at this week’s World Petroleum Congress in Houston. The statement echoed a sentiment expressed by other oil executives attending the event—oil and gas are indispensable and will continue to be indispensable for the observable future …

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Big Oil is Fighting for Clean Fossil Fuels

Several international oil supermajors are planning to boost production while also promising to decrease their greenhouse gas emissions over the next decade and beyond. This seemingly counterintuitive strategy is the result of pressure from international organizations to decarbonize and the continued climb of energy demand around the world. Royal Dutch …

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Europe: In Preparation for a Colder Winter

The euro area is currently experiencing its fourth COVID wave with infection rates that clearly exceed the previous waves, particularly, in countries where the vaccinated share of the population is rather low. In September, excess mortality had already increased by 12% compared with the years 2016-2019. To date, Southern European …

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US Turning to China for Help to Cool Inflation

The United States is “turning to China for help” to cool inflation by releasing some of its oil reserves, the state-backed Global Times said in an editorial on Wednesday (Nov 24), adding that the move will benefit everyone but China “has the upper hand”.” Washington has asked some of the …

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OPEC can’t Make High Oil Prices Go away

High oil prices are a symptom of economic and monetary imbalances, not just a consequence of Organization of the Petroleum Exporting Countries (OPEC) decisions. Throughout history, we have seen how OPEC cuts have done little to elevate prices when diversification and technology added to rising efficiency. Likewise, OPEC output increases …

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Russia’s Role in Europe’s Gas Crisis

Natural gas prices have spiked worldwide, with price surges most acutely felt in Europe. There are few short-term solutions to the problem, but recent gas flows from Russia have resulted in huge moves in the market, highlighting the enormous sway that Russia has over the gas market at the moment. …

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