Geopolitical tensions in the Middle East have led to a 1% rise in oil prices on Friday, driven by concerns over potential supply disruptions. Brent crude settled at $90.45 a barrel, while U.S. West Texas Intermediate crude rose to $85.66, despite posting a weekly loss due to a bearish world oil demand growth forecast from … Read more
Global energy-related emissions of carbon dioxide (CO2) hit a record high last year, driven partly by increased fossil fuel use in countries where droughts hampered hydropower production, International Energy Agency (IEA) said on Friday. Steep cuts in CO2 emissions, mainly from burning fossil fuels, will be needed in the coming years if targets to limit a global rise in … Read more
Renewables are set to displace coal as the top source of energy for electricity production globally in 2025, the International Energy Agency said Wednesday. In its annual report on the electricity market, the IEA said that renewables — in particular from solar panels — should see their share of total electricity production surpass a third … Read more
Renewables are reaching the point where they are outcompeting fossil fuels on price — setting the stage for their predicted dominance of the energy sector by midcentury. When it comes to the surging demand for new electric generation, wind and solar prices are now the cheapest options almost everywhere, according to the International Energy Agency (IEA). Building new … Read more
