) and has been the major influence behind the dramatic increases in LNG prices – is occurring just ahead of the Glasgow COP26 international climate summit.At the summit there will be enormous pressure for nations, and particularly Australia, widely regarded as a laggard on response to climate change, to commit to more ambitious carbon emissions reduction targets to try to limit global warming to less than 1.5° C.
Europe, which has been most aggressive in displacing fossil fuels with renewables, still relies on gas for nearly a quarter of its energy requirements but after a hot summer gas inventories are at their lowest levels for a decade. The crisis has been compounded by reduced nuclear generation in Germany and by price caps that the muffle price signals that would incentivise more coal and gas-fired generation by enabling generators to pass on their greatly increased costs to end-users.
StephenBartho If governments had only listened to peakoil & gas warnings 15 years ago, they'd prepared for this moment. But the response to the 2008 oil price shock was low interest rates and money printing sparking the shale oil boom and further growth to unsustainable levels
If anyone believes China will reach net zero by 2060, they are kidding themselves. Like all of the rhetoric espoused by the CCP it should not be believed
National’s at war with the incompetent Liberals Soon ScottMorrisonMP will have a minority Government ClimateCrisis auspol afternoonbriefing