Environment

Air tickets may become more expensive — thanks to the lack of refining capacity and the financial state of airlines, said William Walsh, the director-general of the International Air Transport Association (IATA). The decline in refining capacity during the pandemic, and higher jet fuel prices caused by the increase in demand for fuel are “of

Part of a hydrogen-powered train photographed in Germany on Aug. 24, 2022. European Commission President Ursula von der Leyen expressed support for hydrogen during her State of the Union address on Sept. 14 Carmen Jaspersen | AFP | Getty Images The European Commission on Wednesday approved up to 5.2 billion euros (roughly $5.2 billion) in

Uniper has received billions in financial aid from the German government as a result of surging gas and electric prices following Russia’s war in Ukraine. Picture Alliance | Picture Alliance | Getty Images The German government on Wednesday agreed to the nationalization of utility Uniper as it strives to keep the industry afloat in the

In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT A Tesla Megapack in Moss Landing, California Andrew Evers | CNBC At least one Tesla Megapack caught fire early Tuesday morning at the energy storage facility operated by utility PG&E in Monterey, California. As of late Tuesday morning, there were no power outages for PG&E

California Gov. Gavin Newsom (D) talks with reporters after a meeting with Speaker of the House Nancy Pelosi, D-Calif., in the U.S. Capitol, on Friday, July 15, 2022. Tom Williams | CQ-Roll Call, Inc via Getty Images California Gov. Gavin Newsom on Wednesday said the state avoided ordering rolling blackouts when electricity demand peaked this month

In this article SHEL-GB Wael Sawan will become Shell’s next chief executive on Jan. 1. Ina Fassbender | Afp | Getty Images Oil giant Shell on Thursday announced that CEO Ben van Beurden will step down at the end of the year after nearly a decade at the helm. Wael Sawan, currently Shell’s director of

U.S. oil prices have been sliding in fits and starts since June, but the Biden administration may be ready to flip from being a seller to a buyer of crude to replenish the nation’s Strategic Petroleum Reserve . The SPR, which has been releasing 1 million barrels per day of supply since March, has been

The Block Island Wind Farm, photographed in 2016, is located in waters off the east coast of the United States. DON EMMERT | AFP | Getty Images The White House said Thursday it was targeting 15 gigawatts of floating offshore wind capacity by the year 2035, as it looks to compete with Europe and Asia

In this article BP SHEL-GB SIE-DE A Siemens logo in Germany. The industrial giant says that a newly commissioned green hydrogen plant in the country will use wind and solar power from the Wunsiedel Energy Park. Daniel Karmann | Picture Alliance | Getty Images A green hydrogen generation plant described as one of the largest

Jim Cramer, during Thursday’s “Monthly Meeting,” offered Club members tips to build a strong portfolio that can endure the Federal Reserve’s tempestuous battle to tamp down inflation. As the Fed struggles to stop prices from skyrocketing, they’re also worried wage inflation being fueled by the job-hopping nature of the labor market in the rush back

In this article ETC.CM= Ethereum’s biggest-ever upgrade just took effect, in what industry experts are calling a game changer for the entire crypto sector. Thus far, all signs suggest the so-called merge — which is designed to cut the cryptocurrency’s energy consumption by more than 99% — was a success. The very first proof-of-stake block

President Joe Biden announced Wednesday the release of the first round of funding for a nationwide electric vehicle charging network, financing the construction of stations in 35 states. “I’m pleased to announce that we’re approving funding for the first 35 states, including Michigan, to build their own charging infrastructure throughout their state,” Biden said at

European Commission President Ursula von der Leyen says the time is now for the bloc to impose a price cap on Russian pipeline gas. John Thys | AFP | Getty Images The European Union will launch a “deep and comprehensive reform” of the electricity market, European Commission President Ursula von der Leyen said Wednesday. In

Sollina Images | Tetra Images | Getty Images Despite falling gas prices, inflation was higher than expected in August, curbing optimism for lower day-to-day expenses. But some retirees won’t feel the sting of elevated costs, experts say. Annual inflation rose by 8.3% in August, fueled by growing costs for food, shelter and medical care services,

Indian Prime Minister Narendra Modi greets Russian President Vladimir Putin during a welcoming ceremony on October 5, 2018 in New Delhi, India. Mikhail Svetlov | Getty Images News | Getty Images India’s Prime Minister Narendra Modi said Wednesday that he is keen to boost ties with Russia, even as the country has been ostracized from the

LONDON — U.K. Prime Minister Liz Truss on Thursday announced a broad stimulus package to help Brits with soaring energy bills and attract investment into the energy sector. Truss announced a “new energy price guarantee that will give people certainty on energy bills.” In her first major move in the leadership role, Truss announced the

The ECB announced a second consecutive interest rate rise to combat red-hot inflation. Daniel Roland | Afp | Getty Images The European Central Bank on Thursday announced a 75 basis point interest rate rise, taking its benchmark deposit rate to 0.75%. “This major step frontloads the transition from the prevailing highly accommodative level of policy

The chief executive of one of Germany’s biggest banks, Commerzbank, sought to reassure investors Thursday about the prospect of non-performing loans this winter, saying banks are far better placed to cope compared to previous crises. “The German economy is facing a difficult time ahead of us due to the Ukraine conflict, China, supply chain problems

A worker at First Solar in Perrysburg, Ohio July 8, 2022. Megan Jelinger | Reuters Caton Fenz already thought that 2022 was going to be a good year. The CEO of Houston-based ConnectGen, which builds wind and solar power plants that sell electricity to utilities, had planned to hire about five or six new workers.  

European Commission President Ursula von der Leyen says the region is facing an extraordinary situation. Thierry Monasse | Getty Images News | Getty Images European Union energy ministers on Friday gathered in Brussels for emergency talks on how to protect households and businesses from runaway gas and electricity prices ahead of winter. European Commission President