Category: Shortcode

Oil is set to surge to $120 a barrel as the Ukraine conflict rocks energy markets, Morgan Stanley’s chief commodities strategist has predicted. Crude oil prices will then stay around the $100 mark for the whole of 2023, Martijn Rats told Insider. The war in Eastern Europe will mean Russian oil production will fall by around 1 million barrels per day, as the country struggles to find buyers for its energy. Although European governments have not followed the US in banning Russian energy imports, many companies in the region are…

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Air pollution kills an estimated 7 million people every year. Tiny soot and dust particles found in city air and biomass-fueled kitchens are the main culprits. Scientists call it PM2.5, meaning particulate matter smaller than 2.5 millionths of a meter. Bloomberg Green pulls data from more than 4,000 sensors monitoring PM2.5 in an open-source network run by OpenAQ, a nonprofit based in Washington, D.C. In the most recent 24-hour period, at least 146 million people around the world lived with air exceeding the World Health Organization’s guideline of 25 micrograms…

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Just look at what almost one degree Celsius of warming has done: more extreme heat and wildfires, bigger storms and droughts, hotter and higher seas, warmer summers and winters. Many animals and plants are shifting to new areas, seeking familiar ecosystems elsewhere. Industries and economies are either facing or preparing for impacts. This number matters because every small fraction of a degree matters. The Paris Agreement in 2015 set a worldwide aspirational target to hold warming to 1.5°C, down from a 2°C target. Staying below 1.5°C would prevent hundreds of…

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A proper price for oil and gas would allow investors to earn returns on their capital while also accounting for the effect carbon emissions have on the planet. The damage from fossil fuels is real, and suppliers and users alike should share in that cost. Reliance on gas and oil for our energy needs is unsustainable, both environmentally and geopolitically. We need to align energy use and development of domestic fossil fuels, nuclear power and renewable energy with the broader societal goal of decarbonization. To get there, we need a…

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A cash-strapped Power Division has reportedly decided to seek Prime Minister’s help to recover arrears of Rs 111 billion from Federal and Provincial Governments, well informed sources told Business Recorder. The sources said that regarding Rs 20.364 billion arrears of the federal government, Defence Ministry is on top of the list of defaulting federal ministries with arrears of Rs 11.5 billion, followed by Ministry of Interior, which has to pay Rs 3.066 billion. The third highest defaulting ministry is the federal ministry of Water Resources, which has to pay Rs 2.423…

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