| My articles: | https://www.bloomberg.com/authors/ASLxhpk8tMA/stephen-stapczynski |
Global coal consumption will hit an all-time high this year, says the IEA 🌎 ❤️ 🪨
💰 “High natural gas prices led to significant fuel switching to coal in electricity generation in Europe”
🏭 Coal demand expected to remain at similar level for years
Full report: https://www.iea.org/news/the-world-s-coal-consumption-is-set-to-reach-a-new-high-in-2022-as-the-energy-crisis-shakes-markets
France faces a greater risk of a power shortfall in January due to lack of nuclear power, said its grid operator 🇫🇷⚠️
☢️ Nearly half of EDF's reactors are under repair or in maintenance
👍 Good news: falling power demand means December won’t be as tight
A European-style winter energy crunch is looming over New England in the north-east US 🇺🇸
New England is paying sky-high prices to import LNG and avoid a shortfall
LNG spot prices are about four-times higher than domestic US gas rates
https://www.ft.com/content/f9374ff4-3bfd-4b5e-8542-58c3db81514b
First official COP27 draft lacks pledge to "phase down" fossil fuels -- a key condition for the EU 🇪🇺📝
🗣️ Talks set to continue into weekend in an attempt to find a breakthrough
💰 Leaders still figuring out how to compensate developing countries
(There is mention of coal "phase-out" for the first time, but experts believe this is likely a typo and they meant "phase-down")
Climate negotiators are on track to reject a proposal for a more sweeping plan to phase down fossil fuels, snuffing efforts by India and key developed nations to target oil and gas as well as coal in an overarching deal at COP27.
A quarter of Americans (!!) may face blackouts during bouts of extreme cold this winter as coal and natural gas supplies tighten, according to a US regulator 🇺🇸⚠️
⚡️ Grids from New England to Texas could see supply shortages
🛢️ Fuel supplies are strained
