Headline News:
- “How An Iran Crisis Would Play Out In A World Powered By Renewables Instead Of Oil” • Imagine conflict with the US and Israel against Iran unfolding in a world powered mostly by wind, solar and batteries rather than oil and gas. In a world where most energy is local renewables, would such instability lead to costly food and a threat of inflation? [ZME Science]
Wind turbines (Colin Watts, Unsplash)
- “Asia Sits At The Center Of The Global LNG Shock” • Global energy trade is in chaos as war at the Persian Gulf disrupts oil and LNG shipments, and pushes prices sharply higher. Asia may feel the greatest impact, as it relied heavily on imported fuel that went through the Strait of Hormuz. Some 80% of the LNG that traversed it was heading to Asia. [Euronews]
- “US Lost 92,000 Jobs As Markets Roil And Gas Prices Surge” • The US lost 92,000 jobs in February, according to a report from the US Bureau of Labor Statistics. The change nearly erased all of the job gains delivered a month earlier. The new jobs report arrived as markets roil and gasoline prices surge in response to the war with Iran. [ABC News]
- “Can Trump Stop The Surge In Oil Prices? Experts Weigh In” • US Treasury Secretary Scott Bessent took action on oil prices, but it did not appear to have muc effect. The Trump regime has other policy options for dealing with the price hike, analysts told ABC News, such as tapping the US Strategic Petroleum Reserve or ending the conflict. [ABC News]
- “ ’Energy Security’ Makes Us Less Secure” • Each year, the US each year spends over $81 billion to protect the global supply of oil, but that cost does not appear at the gas pump. The money is hidden in the defense budget, a subsidy making oil look about 28¢ per gallon cheaper than it actually is. Renewables don’t have that problem. [CleanTechnica]
For more news, please visit geoharvey – Daily News about Energy and Climate Change.
* This article was originally published here
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