LONDON—Oil prices hit multi-year highs on Monday buoyed by recovering demand and high natural gas and coal prices encouraging users to switch to fuel oil and diesel for power generation. Brent crude oil futures were up 59 cents, or 0.7 percent, to $85.45 a barrel by 0900 GMT, after hitting $86.04, their highest level since…
Oil Prices Climb as COVID-19 Recovery, Power Generators Stoke Demand
October 18, 2021
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Delhi Chief Minister Warns of Power Crisis Due to Coal Shortage
NEW DELHI—Delhi Chief Minister Arvind Kejriwal on Saturday warned of a power crisis in the Indian capital due to a coal shortage, which has already triggered electricity cuts in some of the country’s eastern and northern states. “Delhi could face a power crisis,” Kejriwal said in a tweet in which he also shared a copy…
China’s Factory Activity Hits the Lowest Level in 19 Months Amid Power Crisis
October 1, 2021
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China’s factory activity shrunk in September for the first time since February 2020, following sweeping curbs on electricity usage, according to China’s National Bureau of Statistics (NBS). Data show the official manufacturing Purchasing Manager’s Index (PMI) in September was at 49.6, down from 50.1 in August. The economic indicator fell below score 50 for the…
China Energy Crunch Triggers Shutdowns, Pleas for More Coal
SHANGHAI—China faces mounting pressure to ramp up coal imports and ensure supplies to keep lights on, factories open, and water flowing as a severe power crunch roils the northeastern industrial heartland. With electricity shortages sparked by coal shortages crippling large sections of industry, the governor of Jilin province, one of the hardest hit in the…
Some Apple, Tesla Suppliers Suspend Production in China Amid Power Pinch
September 27, 2021
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Several Apple Inc. and Tesla Inc. suppliers have suspended production at some Chinese factories for a number of days to comply with tighter energy consumption policies, putting supply chains at risk in the peak season for electronics goods. Two major Taiwanese chipmakers, however, said their China facilities are operating as normal. The development comes as…
Guinean Junta Replaces Provincial Governors After Coup, Media Say
CONAKRY—The soldiers who seized power in Guinea over the weekend have consolidated their takeover with the installation of military provincial governors, Guinean media reported on Tuesday. West African leaders have threatened sanctions over the overthrow of President Alpha Conde, who was serving a controversial third term after first winning election in 2010, and will meet…
Ida’s Sweltering Aftermath: No Power, No Water, No Gasoline
NEW ORLEANS—Hundreds of thousands of Louisianans sweltered in the aftermath of Hurricane Ida on Tuesday with no electricity, no tap water, precious little gasoline, and no clear idea of when things might improve. Long lines that wrapped around the block formed at the few gas stations that had fuel and generator power to pump it….
Heavy Storm Hits Croatian Island, Causes Power Cuts
A heavy storm descended on the Croatian island of Mljet early Saturday morning causing power outage and some disruptions in ferry traffic. Lightning hit some of the power facilities on the island leaving villages and resorts without electricity into the morning. After the scorching heat that hit parts of the Balkans and the Mediterranean this…
The Power of Social Influence
By Kim Walsh Phillips Imagine you are in a small town, away on business and are starting to get hungry. You notice there are two restaurants in the town square: One has two cars in the parking lot—you are guessing a server and the cook’s car—and the other has 20. Which one are you going…
Lebanon’s Economy Quickly Collapsing Amid Hyperinflation, Power Outages
The economy of Lebanon is seeing a once-in-a-lifetime collapse amid hyperinflation and outages, according to a report from the World Bank. The small Middle Eastern country has seen inconsistent power supply and outages after the massive explosion in its capital, Beirut, last year. The country, which is also dealing with hyperinflation, is seeing one of the worst…
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