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Norway’s Ambitious Plan to Store Carbon Dioxide in the North Sea
Norway has big plans to pump waste carbon from oil and gas operations and heavy industry under the seabed of the North Sea to be stored safely underground. It believes this method will be key to decarbonizing its fossil fuel activities in the coming years and supporting a green transition. However, some fear that this process cannot be done safely without risk to the environment. Others believe that carbon capture and storage (CCS) is merely a band-aid on a bullet wound and that countries should be fixing their carbon problem at the source rather than mitigating the effects of fossil fuel production. Nonetheless, so long as the world relies on oil and gas, companies will be looking for ways to produce lower-carbon fossil fuels through innovative methods, such as CCS technology.
read more... 14/03/2024
EU reaches deal on world’s first carbon removal certification scheme
European Union legislators reached a political agreement in the early hours of Tuesday (20 February) on a proposal to set up the world’s first registry for certified carbon dioxide removals obtained from eco-farming practices and industrial processes.
read more... 20/02/2024
EU to step up efforts for more carbon markets worldwide
The European Union will increase diplomatic efforts to help countries outside the bloc to launch carbon markets in the hope of fostering international trade of CO2 emissions, the bloc's climate policy chief said on Tuesday.
read more... 14/02/2024
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UK nuclear fusion reactor sets new world record for energy output
The UK’s JET machine, one of the world’s biggest and most powerful fusion reactors, achieved a new record for energy output on Thursday during its last run before being permanently shut down.
read more... 12/02/2024
Daily (01.02.2024): Carbon prices extended their gains on Wednesday, supported by colder weather and rising gas prices
Oil prices declined on Wednesday, weighed by a sluggish Chinese economy despite the many ongoing tensions around the world. As a result, Brent crude fell by about 1.4% to settle at $81.71, while WTI crude tumbled by about 2.5% to close at $75.85 per barrel.
read more... 01/02/2024