Mining magnate and former CEO of Fortescue Metals, Andrew Forrest, believes an overreliance on fossil fuels is to blame for Australia’s record-high energy prices. In an interview with 2GB’s radio last week, Forrest declared that to combat high levels of inflation, Australia must swiftly transition to what he believes to be the cheapest form of…
Mining Billionaire Says Too Much Fossil Fuels Leading to Inflation
May 30, 2023
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Andrew ForrestAustraliaBusiness & MarketsCompanieseconomic policiesenergyinflationInternationalWorld
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When Environmental Radicalism Is More Harmful Than Good
Commentary When mindless environmental zealotry turns into environmental vandalism and economic destruction something is badly wrong. What turns the wrong into an inexcusable outrage is when the government allows it to occur, ignoring the common good which is at stake. This is exactly the state of play in the state of Victoria where the debt-ridden…
Oil Steady After US Debt Deal but Rate Hike Worries Linger
Oil prices were steady on Monday after U.S. leaders reached a tentative debt ceiling deal, possibly averting a default in the world’s largest economy and oil consumer, but concerns about further interest rate hikes capped gains. Brent crude futures climbed 14 cents, or 0.2 percent, to $77.09 a barrel by 0905 GMT, while U.S. West…
European Shares Lack Momentum After Debt Ceiling Deal
May 29, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—European stock indexes slipped slightly on Monday, lacking momentum in thin trade while optimism about the U.S. having reached a debt ceiling deal over the weekend kept Wall Street futures positive. U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal on Saturday to raise the federal government’s $31.4 trillion debt…
US and Australia Drink the Kool-Aid on Climate Change
Commentary Signed bits of paper abound at international conferences. Serious-looking leaders signing their names to documents that would never pass the examination of a first-year law student abound. Statements of intent, flowing phrases, and wonderful words, which at the end of the day are neither enforceable nor meaningful, tend to go from headline to dustbin…
150 Ways Biden Has Made It Harder to Produce Oil and Gas: Energy Institute Report
May 27, 2023
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Business & MarketseconomyenergyExecutive Branchoil and gas industryPolicies & ImpactsPoliticsU.S. energy indepenenceUS
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The Biden administration has implemented multiple policies that have harmed America’s domestic energy production and weakened the country’s standing internationally leading to gas shortages and the highest-ever prices in the nation’s history. “President Biden and the Democrats in Congress have a plan for American energy: make it harder to produce and more expensive to purchase….
US Pump Prices Surge as Drivers Prepare for Memorial Day Weekend
U.S. gas prices are on the rise as demand from drivers surges heading into Memorial Day weekend. The national average price for a gallon of gas was $3.57 for the week ending May 26, up four cents from the previous week, according to the latest AAA gas prices report. AAA predicted that road travel on Memorial…
Timor Leste’s Xanama Gusmao Poised to Push Australia for Gas Pipeline to Country’s South Coast
Timor Leste’s independence fighter and first president Xanana Gusmao is set on pushing Australia for a gas pipeline to be built from the Greater Sunrise fields in the Timor Sea to his country’s south coast if his party wins the country’s parliamentary election. Currently, Gusmao’s party, the National Congress for Timorese Reconstruction (CNRT), has received…
IN-DEPTH: ‘No Remediation’: A Broken Turbine in Kansas Shows how Wind Companies Evade Responsibility
May 26, 2023
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Business & Marketseconomic policiesenergyKansasPolicies & ImpactsRegional & State NewsState NewsUSwind energywind turbine
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For Kansas state Rep. Carrie Barth, the broken turbine in Marshall County and its fiberglass debris scattered across farmland has confirmed one of the many loopholes industrial wind companies have to distance themselves from responsibilities to the residents who live in their shadow. “We have all of these bureaucracies to deal with health and environment,…
New Jersey County Votes Unanimously Against Offshore Wind Farm
A county in New Jersey unanimously voted against an offshore wind farm proposed along its coastline, citing the development’s potential negative environmental and tourism impact. The Cape May Board of Commissioners voted (pdf) 4–0 this week on an ordinance opposing farms that are being developed by a Denmark-based firm, Orsted, under its Ocean Wind 1…
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