Tanker carrying 1 million barrels of oil hit by explosion off Libya
An oil tanker carrying one million barrels of crude oil exploded near the Libyan coast, Bloomberg reported on 30 June....
It is a fascinating realization that every concept can be spun to make it sound more appealing.
During COP29, Bloomberg published an article containing the thoughts of the White House Climate Advisor Ali Zaidi, who argued that “oil boom aids energy transition.”
“That is a facilitator of decarbonization, not something that slows it down,” Zaidi said.
According to Mr.Zaidi, increasing oil production in the US helped maintain market stability and avoid “shocks and upward price pressure.” However, justifying that position is incredibly challenging, particularly considering the ongoing climate summit in Baku.
Whether we like it or not, it is necessary to accept that traditional energy sources will remain relevant for the foreseeable future. However, it is also important to realize that climate change is also real, and the impact of those changes will be dramatic, to put it mildly. Energy transition is one of the most credible mechanisms for avoiding dire outcomes.
The White House official's policy approach points to a degree of dependence on oil revenues. It is also possible to argue that the US has the potential to increase oil production using energy prices as a tool of coercion in international affairs.
The statement of the Mr. Zaidi clearly illustrates the contradictory nature of political discourse on climate. The approach of the White House official in this situation is an attempt to justify increasing revenues during an election year to pull more voters and achieve political objectives.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
The Russian government has approved the creation of the Black Sea State Nature Biosphere Reserve, according to a decree published Sunday on the government’s official website. Black Sea Biosphere Reserve is the largest nature reserve in Ukraine which is now under Russian occupation.
Over a third of Tuvalu's population has applied for Australia's climate visa, as rising sea levels threaten to submerge the Pacific nation within decades.
Heatwaves gripping Europe have pushed temperatures above 40°C, fueling wildfires and triggering weather alerts across several countries.
Greek firefighters are battling a large wildfire south of Athens as the country faces its first major heat wave of the summer, with temperatures nearing 40°C and strong winds fuelling the flames.
China has surpassed its 2030 renewable energy target six years ahead of schedule and now leads the world in clean energy investment, innovation, and deployment, transforming itself into a global powerhouse in the transition to a sustainable energy future.
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