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DAILY ENERGY NEWS | 12/04/2023
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** "In climate finance, we have to move from billions to trillions. To get there, we need new sources of revenues. New levies, green bonds and of course - carbon pricing."
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– Ursula von der Leyen, unelected head of the EU Commission ([link removed])
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That’s because they’re not stupid.
** Economic Times ([link removed])
(12/3/23) reports: "India and China both on Saturday refrained from signing the pledge at the COP28 climate summit to triple the world's renewable energy capacity by 2030 even though New Delhi already committed to it as part of its G20 presidency. During the UN's climate talks, 118 countries committed to tripling the global energy capcity by 2030 in a high endorsed innovative. This ambitious goal aims to reduce the reliance on fossil fuels in the world's overall energy production. The Countries which backed the pledge included Japan, Australia, Canada, Chile, Brazil, Nigeria, and Barbados. Although China and India have expressed endorsement for the threefold increase in renewable energy by 2030, neither of them formally supported the comprehensive pledge on Saturday.
Burn the urban wood-burners...
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You know guys like Special K. They're always trying to fit in with the cool kids by saying outlandish things that make no sense and making promises they can't keep.
** Fox News ([link removed])
(12/2/23) reports: "The Biden Administration is forging ahead with its green agenda by committing the United States to not building any new coal plants and phasing out existing plants. U.S. Special Envoy for Climate John Kerry announced at the annual United Nations climate change summit, known as COP28 and which is being held in Dubai, although no date was given for when the existing plants would have to go. 'We will be working to accelerate unabated coal phase-out across the world, building stronger economies and more resilient communities,' Kerry said in a statement. 'The first step is to stop making the problem worse: stop building new unabated coal power plants.' Kerry said America was joining the Powering Past Coal Alliance, a pact of nearly 60 countries that have promised to accelerate the phasing out of coal-fired power stations, except the very few that have carbon capture and storage. Kerry said the action forms part of America’s plan to limit global warming to 1.5 Celsius."
Energy Markets
WTI Crude Oil: ↓ $73.63
Natural Gas: ↓ $2.66
Gasoline: ↑ $3.24
Diesel: ↓ $4.19
Heating Oil: ↑ $267.59
Brent Crude Oil: ↓ $78.58
** US Rig Count ([link removed])
: ↓ 675
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