Clean fuel methane leaks threaten natural gas climate friendly image

BRUSSELS (AP) — The European Union’s executive arm moved Wednesday to jump-start plans for the 27-nation bloc to abandon Russian energy amid the Kremlin’s war in Ukraine, proposing a nearly 300 billion-euro ($315 billion) package that includes more efficient use of fuels and faster rollout of renewable power. The European Commission’s investment initiative is meant to help the 27 EU countries start weaning themselves off Russian fossil fuels this year. The goal is to deprive Russia, the EU’s main supplier of oil, natural gas and coal, of tens of billions in revenue and strengthen EU climate policies. “We are taking our ambition to yet another level to make sure that we become independent from Russian fossil fuels as quickly as possible,” European Commission President Ursula von der Leyen said in Brussels when announcing the package, dubbed REPowerEU. With no end in sight to Russia’s war in Ukraine and European energy security shaken, the EU is rushing to align its geopolitical … [Read more...] about EU rushes out $300 billion roadmap to ditch Russian energy

This is a carousel. Use Next and Previous buttons to navigate 5 COPENHAGEN, Denmark (AP) — Four European Union countries plan to build North Sea wind farms capable of producing at least 150 gigawatts of energy by 2050 to help cut carbon emissions that cause climate change, Danish media reported Wednesday. Under the plan, wind turbines would be raised off the coasts of Belgium, the Netherlands, Germany and Denmark, daily Danish newspaper Jyllands-Posten said. The project would mean a tenfold increase in the EU's current offshore wind capacity. “The North Sea can do a lot," Danish Prime Minister Frederiksen told the newspaper, adding the close cooperation between the four EU nations "must start now.” European Commission President Ursula von der Leyen, German Chancellor Olaf Scholz, Dutch Prime Minister Mark Rutte and Belgian Prime Minister Alexander De Croo are scheduled to attend a North Sea Summit on Wednesday in Esbjerg, 260 … [Read more...] about Reports: 4 European nations to build North Sea wind farms

BRUSSELS — The world economy is heading into a potentially grim period as rising costs, shortages of food and other commodities and Russia’s continuing invasion of Ukraine threaten to slow economic growth and bring about a painful global slump. Two years after the coronavirus pandemic emerged and left much of the globe in a state of paralysis, policymakers are grappling with ongoing challenges, including clogged supply chains , lockdowns in China and the prospect of an energy crisis as nations wean themselves off Russian oil and gas . Those colliding forces have some economists starting to worry about a global recession as different corners of the world find their economies battered by events. Finding ways to avoid a slowdown while continuing to exert pressure on Russia for its war in Ukraine will be the primary focus of finance ministers from the Group of 7 nations who are convening in Bonn, Germany, this week. At a news conference on Wednesday, Treasury Secretary Janet L. … [Read more...] about Economic Headwinds Mount as Leaders Weigh Costs of Confronting Russia