![]() The frenzy to secure natural gas is also pushing up the price of coal and oil, which can be used as substitutes in some cases, but are even worse for the climate. Steam billows out of the cooling towers at a coal-fired power station in Nanjing, China. He thinks that anxiety has caused the market to break away from the fundamentals of supply and demand. “A lot of it is feeding off of fear about what the winter’s going to look like,” said Nikos Tsafos, an energy and geopolitics expert at the Center for Strategic and International Studies, a Washington-based think tank. ![]() Prices remain much lower in the United States, a net exporter of natural gas, but still have shot up to their highest levels in 13 years. In East Asia, the cost of natural gas is up 85% since the start of September, hitting roughly $204 per barrel in oil terms. In Europe, natural gas is now trading at the equivalent of $230 per barrel, in oil terms - up more than 130% since the beginning of September and more than eight times higher than the same point last year, according to data from Independent Commodity Intelligence Services. “The immediate priority should be to mitigate social impacts and protect vulnerable households.” ![]() “This price shock is an unexpected crisis at a critical juncture,” EU energy chief Kadri Simson said Wednesday, confirming the bloc will outline its longer-term policy response next week. Consumer advocates in Europe are calling for a ban on disconnections if customers can’t promptly settle what they owe. In China, rolling blackouts for residents have already begun, while in India power stations are scrambling for coal. Governments around the world are trying to limit the impact on consumers, but acknowledge they may not be able to prevent bills spiking.įurther complicating the picture is mounting pressure on governments to accelerate the transition to cleaner energy as world leaders prepare for a critical climate summit in November. Predictions of $100 oil.Ī global energy crunch caused by weather and a resurgence in demand is getting worse, stirring alarm ahead of the winter, when more energy is needed to light and heat homes. It does not store any personal data.Astronomical increases in natural gas prices. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". ![]() The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. Neighboring Belarus additionally disrupted the web throughout current protests, as have international locations from Algeria to Zimbabwe.Learn extra of this story at Slashdot. Netblocks additionally reported disruptions in Russian cities throughout current protests over the detention of Alexey Navalny. Blockages are significantly widespread round elections in Africa, most lately in Uganda. Authorities have used the outages to cut back or stop unrest - or to cover it from public view. Not less than 35 international locations have restricted entry to the web or social media platforms no less than as soon as since 2019, based on Netblocks, a gaggle which tracks web freedom. That’s no shock: web blackouts are actually widespread all over the world when energy hangs within the stability. From a report: Web disruptions in Myanmar early Monday morning coincided with reviews that high politicians, together with the nation’s de-facto chief Aung San Suu Kyi, had been being rounded up by the navy. The place there’s a coup, there’ll most likely be an web outage. Web skyrocket amid international political unrest,
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