Boon for American oil and LNG as war and anxieties over energy security in Europe transform global markets
email rounding up the latestWhen a pandemic-induced drop in demand turned US oil prices negative for the first time three years ago, then president Donald Trump implored Russia and Saudi Arabia to cut production to restore order to energy markets — and spare US oil and gas producers.
The US oil and gas producers so imperilled in 2020 have capitalised with bumper profits and exports. And the Biden administration has pushed ahead with sweeping climate legislation designed to break decades of western dependence on fossil fuels. “The war put energy security front and centre in a manner people thought was no longer feasible,” says
You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser. By 2021, Russia had been supplying about 150bn cubic metres of natural gas per year to Europe, or about 40 per cent of EU demand, says the International Energy Agency. Last year’s collapse of those supplies pushed gas prices to a record high above €343 per megawatt hour, sparking fears of an economic and humanitarian catastrophe on the continent, and a rush for alternatives.
The war has been a boon for the US’s growing liquefied natural gas industry. Until the invasion, China and other developing countries offered US exporters of LNG the most promising markets. Now, Europe’s thirst for the fuel has added more competition for supplies.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Game Pass loses five more Xbox games soon, including Marvel's AvengersMicrosoft has announced that Marvel's Avengers, The Ascent, and three more games will leave Xbox Game Pass and PC Game Pass in July.
Læs mere »
What America Loses Without Jesse Jackson's Voice“I struggle to speak. But I can still think. I can still write. There is still work that I want to do.”
Læs mere »
The Best Way to Save American Lives on the RoadAmerica will be going around in circles on road safety until it adopts more traffic circles aka roundabouts
Læs mere »
Phoenix Heatwave Poised to Break Record for American CitiesPhoenix's relentless heatwave poised to break a record for American cities. Nighttime has offered little relief from the brutal temperatures
Læs mere »
Russia pulls out of Black Sea grain dealMoscow’s move puts at risk tens of millions of tonnes of food exports from Ukraine
Læs mere »
Russian mother and father killed in 'drone attack' on bridge linking Crimean peninsula to RussiaTwo people have been killed in an attack on the bridge linking the occupied Crimean peninsula to Russia.
Læs mere »