The US has surged ahead of China in the building of new gas-fired power generation, largely to feed a boom in artificial intelligence (AI) that is adding vast amounts of planet-heating emissions, a new analysis has found. For decades, China’s rapid economic growth has seen it outpace the US in the addition of new gas power generation but a recent “frenzy” in datacenter construction for AI has reversed this, said Global Energy Monitor (Gem) in its new report. The US is now building twice as much gas-fired capacity as China,…
Tag: Gas
China is a clear winner from Trump’s war in Middle East, report concludes
China has emerged as the sole winner in Asia from the strait of Hormuz crisis, according to a report published on Tuesday. The report by the Asia Group thinktank concluded that China had weathered the storm of the global commodities crisis resulting from the closure of the Middle Eastern waterway, and also stood to gain from the economic and geopolitical trends sparked by the wider conflict. Iran virtually closed the strait, a vital waterway through which much of the world’s oil and gas flows, after the US and Israel launched…
The Guardian view on India’s Iran shock: Asia’s neoliberal era starts to fracture | Editorial
The Indian prime minister’s call for sacrifice last week marks a fundamental shift. He urged the country’s 1.4 billion people to consume less fuel and fertiliser, buy less gold and curb foreign travel as global energy prices surge because of the war in Iran. The message, redolent of the Covid-era restrictions, suggests something larger: a retreat from neoliberal globalisation in Asia and the return of strategic economic management. The Hindu nationalist Narendra Modi waited for key regional elections to finish before pressing for the austerity measures. He was following other Asian…
Trump may not be a fan of clean energy but Iran war is accelerating global shift from oil and gas | Heather Stewart
Operation Epic Fury has thus far achieved none of Donald Trump’s war aims, but it may well accelerate the global transition towards the clean energy he loves to hate. Last week brought the latest exchange of verbal blows in the standoff over the strait of Hormuz. Iran was “choking like a stuffed pig” on the oil it was unable to export because of the US blockade, Trump claimed. From Tehran, the supreme leader shot back that foreigners who “maliciously covet” the waterway “have no place there except at the bottom…
The great energy pivot: US oil and Chinese solar are the winners in Trump’s war on Iran
In the open seas, an armada of empty tankers has quietly turned west. A record number of super-sized vessels are now heading to the US, where oil drillers and refineries are preparing to profit from Donald Trump’s war in the Middle East. Almost 30 of these vessels, each able to hold 2m barrels of oil, are contracted to load US crude, destined for a global market facing the biggest supply crisis in history. It is just over five years since the shale revolution made the US a net energy exporter…
US and Japan unveil $36bn of oil, gas and critical minerals projects in challenge to China
Japan has drawn up plans for investments in US oil, gas and critical mineral projects worth about $36bn under the first wave of a deal with Donald Trump. The US president and Sanae Takaichi, Japan’s prime minister, announced a trio of projects including a power plant in Portsmouth, Ohio, billed by the Trump administration as the largest natural gas-fired generating facility in US history. As a diplomatic row between Japan and China over the security of Taiwan continues, testing the Japanese economy, Takaichi said the projects would strengthen her country’s…
UK ‘helping Russia pay for its war on Ukraine’ via loophole on refined oil imports
The UK has been accused of “helping Russia pay for its war on Ukraine” by continuing to import record amounts of refined oil from countries processing Kremlin fossil fuels. Government data analysed by the environmental news site Desmog shows that imports of refined oil from India, China and Turkey amounted to £2.2bn in 2023, the same record value as the previous year, up from £434.2m in 2021. Russia is the largest crude oil supplier to India and China, while Turkey has become one of the biggest importers of Russian oil…
World’s renewable energy capacity grew at record pace in 2023
Global renewable energy capacity grew by the fastest pace recorded in the last 20 years in 2023, which could put the world within reach of meeting a key climate target by the end of the decade, according to the International Energy Agency (IEA). The world’s renewable energy grew by 50% last year to 510 gigawatts (GW) in 2023, the 22nd year in a row that renewable capacity additions set a new record, according to figures from the IEA. The “spectacular” growth offers a “real chance” of global governments meeting a…
Greenhouse gas emissions soar – with China, US and India most at fault
Electricity generation in China and India, and oil and gas production in the US, have produced the biggest increases in global greenhouse gas emissions since 2015, when the Paris climate agreement was signed, new data has shown. Emissions of methane, a greenhouse gas 80 times more powerful than carbon dioxide, have also risen, despite more than 100 countries signing up to a pledge to reduce the gas, according to data published on Sunday by the Climate Trace project. The data shows that countries and companies are failing to report their…
Finland recovers ship’s anchor close to damaged Baltic Sea pipeline
Finnish investigators have recovered a large ship’s anchor from near the spot where a Baltic Sea gas pipeline was extensively damaged and are seeking to establish whether it came from a Chinese container vessel. Finland’s central criminal police (KRP) said on Tuesday that the anchor, weighing 6 tonnes and missing one of its prongs, had been lifted from the seabed using a navy crane. Deep drag marks were found on both sides of the fractured pipeline. The country’s National Bureau of Investigation (NBI), which last week said inquiries were focused…