Imposing a tax on big fossil fuel companies could boost climate finance by up to $900 billion by the end of the decade. The International Energy Agency (IEA) has repeatedly emphasized the need for higher levels of climate funding to meet global climate goals and achieve a green transition, but finding this money is not so easy. A recent report has potentially identified a way to raise funds to develop the renewable energy capacity of low-income nations, thereby helping the global green transition. Читать дальше...
It seems that the Kremlin is having a hard time accepting that Russia is playing second fiddle to China when it comes to trade in Central Asia. The reluctance of Russian officials to acknowledge trade reality was on display at a late April trade fair, held in the Uzbek capital Tashkent. In a speech at the exhibition, Igor Kamynin, Russia’s deputy trade representative, claimed, at least in the case of Uzbekistan, that Russia and China were "equal partners with an equal share in trade turnover" in the eyes of Uzbek leaders... Читать дальше...
As the world focuses on transitioning to green, there are big questions about whether new oil and gas resources should be developed. On the one hand, new oil regions present the opportunity to develop lower-carbon oil and gas through less damaging operations. On the other, the International Energy Agency (IEA) and environmental organisations say it is vital to transition away from fossil fuels to green alternatives and leave any new oil in the ground, to achieve global climate aims. However, many... Читать дальше...
Iran is one of the most sanctioned countries in the world. But restrictions imposed by the United States have largely failed to stymie Iran's oil exports, the backbone of its flailing economy.U.S. sanctions have cut off Iran from most of its traditional customers, forcing Tehran to find new buyers and sell its oil at discounted prices.But China’s willingness to buy record amounts of Iranian oil, Tehran's mastery of sanctions-evading tactics, and Washington's reluctance to strictly enforce sanctions... Читать дальше...
Via Metal Miner The Rare Earths MMI (Monthly Metals Index) saw a massive rebound after four months of sharp declines. All in all, the index rose by a whopping 14.36%. This enormous increase could indicate that prices for rare earth metals finally found a bottom between March and April. Chinese Rare Earth Metals Profits Still Declining China’s mining and processing industries continue to experience a drop in profitability despite the nation’s attempts to keep its grip on the critical rare earths market. Читать дальше...
Despite indicating they would refill the Strategic Petroleum Reserve (SPR) by the end of this year, the Department of Energy has now canceled solicitations offered last month. Citing rising oil prices, the DOE said, “We will not award the current solicitations for the Bayou Choctaw SPR site and will solicit available capacity as market conditions allow.” Three million barrels of oil had been slated for delivery to the Bayou Choctaw SPR site in August and September. The SPR is the world’s largest... Читать дальше...
