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Europe Is Subsidizing Its Way Into Electric Vehicle Leadership
As Europe looks to lead the world in electric vehicle (EV) uptake, many governments are incentivizing the switch from traditionally-fuelled cars to electric alternatives, hoping to end the sale of petrol and diesel vehicles and get on the path to net-zero carbon emissions over the next decade. As major automotive manufacturers catch up with niche EV brands such as Tesla, Europe is ready to build up its EV market through incentives such as subsidies, free electric charging options, tax breaks, and a wide variety of EV options for consumers. Several European countries are now leading the way for EV promotion, racing to get ahead of rich Asian nations and North American competitors also looking to make the shift.
read more... 09/09/2021
EU funded research seeks to speed up drilling for deep geothermal
Deep geothermal reservoirs are being targeted for renewable energy supply worldwide. However, while international research efforts are stepping up to the challenge of overcoming the low efficiency of heat recovery from depth to the surface, the showstopper remains the slow drilling speed provided by the conventional rotary system in deep hard rocks (> 4 km). Deep drilling requires long drilling times, often resulting in unacceptably high initial investment.
read more... 16/08/2021
Daily (10.08.2021): Crude oil prices slumped to a three-week low on Monday amid new coronavirus restrictions in Asia
Crude oil prices slid to a three-week low on Monday as the new pandemic measures in Asia, especially China, the world-second largest oil consumer and largest crude importer, prompted fears of a demand slowdown. Hence, Brent crude fell by $1.66, or 2.4%, to settle at $69.04 a barrel. U.S. WTI crude shed by $1.80, or 2.6%, to settle at $66.48. Both benchmarks posted their lowest close since July 19.
read more... 10/08/2021
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Daily (03.08.2021): European spot electricity prices skyrocketed by over 200% on Monday amid expectations of low wind
Crude oil prices fell for the second day in a row on Monday as highly contagious Delta variant of coronavirus sparked new mobility restrictions around the world, raising worries about demand recovery. Higher crude output from OPEC producers put further downward pressure on crude prices. Hence, Brent crude shed by 4.9% to settle at $72.58 a barrel. U.S. WTI crude ended 3.6%, lower at $71.26.
read more... 03/08/2021
Daily (20.07.2021): Oil prices slumped by around 7% on Monday as coronavirus cases increased worldwide
Oil prices plummeted on Monday, weighed by declining demand for black gold amid the coronavirus pandemic and the backdrop of the agreement on crude production between OPEC+ members. Brent oil tumbled by 6.8% to $68.62 a barrel and WTI crude lost 7.5% at $66.42 a barrel.
read more... 20/07/2021