Category: Highlights

Until recently, the idea of a Fortune 500 company boss criticizing the energy transition would have been considered eccentric, to put it mildly. Now, two Fortune 500 bosses have slammed the transition inside a single week. JP Morgan’s Jamie Dimon was first. On Monday, he told CNBC in an interview that the Biden administration had basically messed up the country’s—and the world’s—energy security by doubling down on the energy transition instead of motivating growth in oil production. Calling the current energy crunch “predictable,” Dimon said that “In my view, America…

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General Electric (GE) plans to make major job cuts in its U.S. wind operations and will consider its other markets too as windfarms are proving to be a major expense in the wake of Covid and the Russian invasion of Ukraine. Continued supply chain disruption and the high cost of wind turbines are deterring companies from investing in wind energy, as they look for cheaper alternatives. It’s a question that has been being asked for years – are wind and solar power more expensive and less reliable? The two renewable…

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Saudi state media announced Saturday that the kingdom will provide $400 million in humanitarian aid to Ukraine, following a Friday phone call between Crown Prince Mohammed bin Salman and President Volodymyr Zelensky. SPA stated of the call, “The crown prince expressed the kingdom’s readiness to continue efforts of mediation and support everything that contributes to de-escalation,” in reference to the over seven-month long invasion of Ukraine. The timing of the new aid is raising eyebrows at a moment there are growing calls in US Congress to freeze all new military…

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UL Solutions has recognised LONGi’s high-efficiency modules with Environmental Product Declaration (EPD) certification. LONGi has also registered EPDItaly certification as a result of mutual recognition. An EPD is an internationally harmonized third-party verification report based on ISO 14025: Environmental Labelling and Declarations – Type III Environmental Declaration – Principles and Procedures. It rigorously tracks the environmental impact of a product throughout its lifecycle, including raw material acquisition, manufacturing and processing, transportation, use and end-of-life stages. EPD marks are different from other product ratings or environmental labels and serve as validation…

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Three days after Jamie Dimon sparked a marketwide selloff which sent stocks to fresh 2022 lows after he predicted a US recession in “6 to 9” months, citing drivers including rising interest rates, persistent inflation and Russia’s invasion of Ukraine, and warned stocks could drop another 20%, the JPMorgan CEO who is expected to report earnings tomorrow (and hopefully clarify why his bank refuses to move its deposit rate above 0.01% in the process keeping $2.2 trillion in liquidity locked inside the overnight funding facility), doubled down today saying the Fed can’t…

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