Europe May See Forced De-Industrialization As Result Of Energy Crisis

Europe May See Forced De-Industrialization As Result Of Energy Crisis

The European Union has been quietly celebrating a consistent decline in gas and electricity consumption this year amid record-breaking prices, a cutoff of much of the Russian gas supply, and a liquidity crisis in the energy market. Yet the cause for celebration is dubious: businesses are not just curbing their energy use and continuing on … Read more

A Quarter Of Europe’s Solar And Battery Manufacturing Capacity Is At Risk

A Quarter Of Europe’s Solar And Battery Manufacturing Capacity Is At Risk

Record-breaking electricity prices across Europe are damaging the continent’s attempts to build a reliable low-carbon supply chain and reach its decarbonization targets, as solar and battery manufacturers face mounting costs. Rystad Energy research shows that 35 gigawatts (GW) of solar PV manufacturing and more than 2,000 gigawatt-hours (GWh) of battery cell manufacturing capacity could be … Read more

Wall Street Is Increasingly Bullish On Energy Stocks

Wall Street Is Increasingly Bullish On Energy Stocks

Oil and gas stocks, the top performing equities in the S&P 500 index so far this year, have further room to rise as both retail and portfolio investors look to boost their exposure to traditional energy, expecting a worsening of the energy crisis and shortages of fuel this winter. Despite the market anxiety that soaring … Read more

Turkey Hikes Gas And Power Prices By Up To 50%

Turkey Hikes Gas And Power Prices By Up To 50%

Turkey is raising significantly the prices of natural gas and electricity for all users, by up to 50% for industrial customers, due to the war in Ukraine and the global surge in energy prices. The country’s energy regulator EPDK raised electricity prices for households by 20%, power prices for public and services sectors by 30%, … Read more

Czech Republic Calls Emergency EU Meeting On Energy Crisis

Czech Republic Calls Emergency EU Meeting On Energy Crisis

The Czech Republic, which holds the rotating Presidency of the European Union, will convene an urgent meeting of the energy ministers of the bloc to discuss specific emergency measures to address the energy situation, Czech Prime Minister Petr Fiala said on Friday, as the energy crisis in the EU is worsening with prices rallying to … Read more

High Energy Prices Force One In Six German Firms To Cut Production

High Energy Prices Force One In Six German Firms To Cut Production

One of every six German industrial companies feels forced to reduce production due to high energy prices, a survey by the Association of German Chambers of Industry and Commerce, DIHK, showed on Monday. Nearly a quarter of the companies forced to reduce production have already done so, and another one-quarter are in the process of … Read more

Goldman Sachs: Upside Risk In Oil Is “Tremendously High”

Goldman Sachs: Upside Risk In Oil Is “Tremendously High”

Goldman Sachs continues to be very bullish on energy and believes that the upside risk in crude oil and refined products “is tremendously high right now,” Jeffrey Currie, global head of commodities research at Goldman Sachs, told CNBC’s Squawk Box on Monday. The recent pullback in oil prices could be a buying opportunity because prices … Read more

The Energy Crisis Has Been A Boon For Argentina’s Dead Cow Shale Patch

The Energy Crisis Has Been A Boon For Argentina’s Dead Cow Shale Patch

The US, UK, and European Union’s ban on Russian oil imports sparked by President Vladimir Putin’s invasion of Ukraine has sent global energy prices soaring. The international Brent benchmark has gained a whopping 64% since the start of 2022 while natural gas had surged by a stunning 105%, which has been a boon for a … Read more

Oil Prices Hit $110 As Europe Prepares To Ban Russian Crude

Oil Prices Hit 0 As Europe Prepares To Ban Russian Crude

By Charles Kennedy – May 04, 2022, 1:00 PM CDT In one month, the European Commission proposes to ban all shipping, brokerage, insurance and financing servers related to the import and transport of Russian oil. 95% of the world’s taker liability coverage goes through the London-based International Group of P&I Clubs. WTI futures were up … Read more