Blog List Layout

Liam Denning In between dabbling in geopolitics and buying-rejecting-not-really-buying Twitter, Elon Musk runs a car company. Tesla Inc. reported results that were somehow simultaneously great and yet humdrum. Revenue jumped 56% versus a year ago, but missed expectations by 3%; the stock fell slightly after hours on Wednesday. Such is the flip-side of high expectations. Musk appeared on the call …

Bloomberg European Union (EU) governments have pledged more than 550 billion euros ($536 billion) to protect citizens and businesses from soaring energy costs over the past year, highlighting the enormous fiscal burden the bloc’s leaders face as they jostle over how to pay for it. That figure climbs to 710 billion euros when support for utilities via loans, bailouts and …

  Bloomberg Indonesia may only need $37 billion to shut down its coal-fired power plants, even if the bill doesn’t include building renewable energy to take their place. That $37 billion worth of financing would be enough to buy out future revenues of 118 existing coal plants and up to 10 years of contracted coal power generation, meaning Southeast Asia’s …

Bloomberg Australia is poised to grab a fifth of the world’s lithium hydroxide refining capacity within five years as demand grows for battery metals that bypass China, Canberra said in a report. China produces more than 80% of the world’s lithium hydroxide, a processed form of the in-demand metal, according to the International Energy Agency (IEA). However, several companies are …

Bloomberg European Union member states backed a compromise to use permits from the bloc’s carbon market to help finance a shift away from Russian fossil fuels. Finance ministers gathering in Luxembourg approved a compromise plan drawn up by the Czech government, which holds the EU’s rotating presidency, to free up 20 billion euros ($19.8 billion) of carbon allowances. About 75% …

Bloomberg The 700-meter wide pool of bubbling water in the Baltic Sea caused by the rupture of the Nord Stream gas pipelines points to a climate disaster. It’s the most visible of three major gas leaks emanating from the pipelines connecting Russia to Germany. Scientists are scrambling to work out just how much methane, one of the most powerful greenhouse …

  Bloomberg Shell Plc’s renewable energy division acquired Daystar Power, an off-grid services provider in West Africa, in its first acquisition of a power firm on the continent. The takeover, which awaits regulatory approval, will enable Shell renewable and energy solutions business to deliver carbon emission reductions and power cost savings to commercial and industrial businesses across Africa, according to …

  Bloomberg Oil reversed course as the dollar shed some of its strength and risk-on sentiment lifted equity markets. The global oil benchmark rose 1% to trade near $87 a barrel on Monday. Earlier, Brent slipped below $85 a barrel and West Texas Intermediate falls below $80 as the dollar hit an all-time high, which makes commodities priced in the …

Bloomberg Natural gas prices in Europe headed for a fourth weekly loss, as ample supplies of liquefied natural gas (LNG) help countries fill reservoirs days ahead of the start of the heating season. Dutch front-month gas, the European benchmark, declined as much as 6%, and are on pace for a drop of about 5% this week. While prices have eased …

Bloomberg The German government is planning to inject about 8 billion euros ($8 billion) into Uniper SE as part of a historic agreement to nationalise the gas giant and stave off a collapse of the country’s energy sector. Uniper confirmed it is in final discussions with the government over a package that would include an 8 billion-euro capital increase, subscribed …