Energy markets: Wall St buoyed by oil, oil outages, US coal
There have been gains in US energy markets due to the recovery in oil and copper prices. US coal is still faring pretty badly however, following the nation’s largest coal company Peabody falling into bankruptcy.
Oil-producing governments across the world are scrambling to address petroleum outages that have taken nearly 2 million barrels a day off the market and sent crude prices rallying.
Energy firms: Drax coal phaseout challenge, Total’s solar ambitions
The head of the UK’s largest power station, Drax, has said to government ministers that it will stop using climate-warming coal in as little as three years – in return for more green energy subsidies.
And French oil and gas company Total announced its new gas, renewables and power division, keen to become a renewables and electricity trading player within the next 20 years. “The goal is to be in the top three global solar power companies, expand electricity trading and energy storage and be a leader in biofuels, especially in bio jet fuels,” CEO Patrick Pouyanne said to a worker’s representative meeting.
Climate change: Too late for Paris, record temperatures, surprised scientists
This week, officials are gathering in Paris to sign a treaty that new evidence affirms is already out of date.
2016 is already showing itself to be the hottest year on record, with each of the average global temperatures for January, February and March each passing marks set in 2015. March was also the 11th consecutive month to set a record high for temperatures.
And the Earth is warming so fast that it’s surprising even the climate scientists who predicted it was coming.
In other news
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