December 2022
Day: December 14, 2022
Oil’s topsy turvy ride
After spiking for some time, crude oil prices tumbled in early December on concerns of continued weakening of the global demand. Global oil prices receded by more than 20 percent on the onset of business cycle slowdown around the world. This came after an explosive upcycles in commodity prices after the first wave of COVID. After peaking in mid-2022, demand destruction and weakened economic growth have resulted in slower petroleum and oil consumption. Factors like high oil and other energy prices initially also contributed to the global economic slowdown through…
Read MoreNuclear Fusion Breakthrough: Can The Quest For Clean Energy Finally Help Tackle The Climate Crisis?
Scientists at the Lawrence Livermore National Laboratory in California have managed to get more energy out of a nuclear fusion reaction than they put in to trigger it, the U.S. Department of Energy announced Tuesday, a major breakthrough experts told Forbes is a huge step towards developing a near-limitless source of clean energy that is probably still decades away and will arrive too late to tackle the most pressing problems in the fight against climate change. Scientists have eyed nuclear fusion—the star-powering process that combines lighter elements like hydrogen and helium into heavier ones…
Read MoreCPEC fruit: 1,320MW project initiated
As Pakistan’s energy import bill touched an exorbitant $27 billion, Prime Minister (PM) Shehbaz Sharif underlined the need to explore indigenous resources including hydel, solar, air and coal to produce cheap electricity. Federal Minister for Power Khurram Dastgir Khan stated that a 1,320MW project has been initiated by the Shanghai Electric Group in Thar to use indigenous coal for electricity production. “The plants have been connected to the national grid,” and that the initiative “was borne from the fruit of CPEC projects,” he observed. Pakistan is suffering from the impact…
Read MorePlea against gas outages referred to high court bench headed by CJ
A Peshawar High Court bench on Tuesday referred a petition against the outages and low pressure of natural gas supplied to domestic consumers in Khyber Pakhtunkhwa to another chief justice-headed bench, which is already hearing the matter. The development came after Justice Mohammad Ibrahim Khan and Justice Ijaz Anwer heard arguments on the petition filed by advocate Abbas Khan Sangeen, who requested the court to declare gas loadshedding and low pressure unconstitutional and illegal. The petitioner contended that the Sui Northern Gas Pipelines Limited violated Article 158 of the Constitution…
Read More
