A long-time market bull is tempering his outlook due to inflation. Federated Hermes’ Phil Orlando expects the Federal Reserve will lift interest rates six times over the next two years to tame massive price increases from vehicles to shelter to food. “Our best guess is that we will see two quarter point rate hikes out
Environment
Electricity transmission pylons beside the gas-fired power plant, operated by Uniper SE, in Irsching, Germany, on Wednesday, July 7, 2021. Michaela Handrek-Rehle | Bloomberg | Getty Images LONDON — The Energy Charter Treaty is not widely known, yet it’s feared the influence of this international agreement could be enough by itself to derail hopes of
Oil prices could climb higher despite the U.S. and other major consumers releasing millions of barrels of oil from their reserves to try to keep energy prices down, one analyst told CNBC. “It’s not going to work simply because the strategic petroleum reserve — any country’s strategic petroleum reserve is not there to try to
An oil well pump jack operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021. David Paul Morris | Bloomberg | Getty Images The Biden administration on Friday proposed reforms to the country’s oil and gas leasing program that would raise costs for energy companies to drill on public lands and
Working oil pumps against a sunset sky. Imaginima | E+ | Getty Images Oil prices tumbled to the lowest level in more than two months Friday as the new Covid-19 strain sparked fears about a demand slowdown just as supply increases. The leg lower came amid a broad sell-off in the market with Dow futures
Petroleum pump jacks are pictured in the Kern River oil field in Bakersfield, California. Jonathan Alcorn | Reuters The head of the world’s leading energy authority has said that some countries had failed to adopt a helpful position to calm soaring oil and gas prices, criticizing “artificial tightness” in energy markets. “[A] factor I would
In this article ENEL-IT The CEO of multinational Italian energy firm Enel has expressed doubt on the usefulness of carbon capture and storage, suggesting the technology is not a climate solution. “We have tried and tried — and when I say ‘we’, I mean the electricity industry,” Francesco Starace told CNBC’s Karen Tso on Wednesday. “You can imagine,
Oil wells pumping outside of Midland Texas. Joe Sohm | Visions of America | Universal Images Group | Getty Images The Biden administration’s decision to release oil from U.S. reserves is a “mistake,” former U.S. Energy Secretary Dan Brouillette told on Wednesday. “I do think it’s a bad policy choice. There’s no question about that,”
In this article ENI-IT EQNR-NO RDSA-GB mcKensa | iStock | Getty Images Shell said Wednesday it had signed a deal to purchase power from a development dubbed “the world’s largest offshore wind farm.” The 15-year power purchase agreement relates to 240 megawatts from Dogger Bank C, the third and final phase of the 3.6 gigawatt
President Joe Biden said Tuesday that the administration will tap the Strategic Petroleum Reserve as part of a global effort from energy-consuming nations to calm 2021’s rapid rise in fuel prices. The coordinated release between the U.S., India, China, Japan, Republic of Korea and the United Kingdom is the first such move of its kind.
In this article GE SGRE-ES HOL.N-CH GS VOW3-DE A wind turbine blade manufactured by LM Wind Power arrives at the Offshore Renewable Energy Catapult in Blyth, England, on August 15, 2019. Tom White | Getty Images News | Getty Images GE’s renewable energy unit said Tuesday it would manufacture zero waste wind turbine blades by
Many people expect electric vehicles to be fixtures in a future world that relies on renewable energy. But not many EV companies started out as renewable energy companies. One company trying to pull off that feat is Bangkok-based Energy Absolute. The biodiesel producer and renewable energy company branched into the commercial EV business in 2019.
In this article GM F 7203.T-JP VOW3-DE A charging cable plugged into a Volvo electric vehicle in London on November 18, 2020. TOLGA AKMEN | AFP | Getty Images New homes in England will be required to have charging points for electric vehicles, according to plans announced by authorities in the U.K. “We’re regulating so