Environment

Sunak previously described the idea of a windfall tax on oil and gas majors as “superficially appealing” but a decision that would ultimately deter investment. Jonathan Brady – Pa Images | Pa Images | Getty Images LONDON — U.K. Finance Minister Rishi Sunak has imposed a windfall tax on oil and gas majors as the

Russian President Vladimir Putin delivers a speech during a ceremony honouring the country’s Olympians and Paralympians at the Kremlin in Moscow, Russia April 26, 2022.  Maxim Shemetov | Reuters DAVOS, Switzerland — Russian President Vladimir Putin‘s bargaining position is “not as strong as he pretends” and Europe has leverage against him, according to billionaire investor

WASHINGTON — The U.S. has dropped the ball on crypto regulation, according to Securities and Exchange Commissioner Hester Peirce, and she says the knock-on effects of that failure keep her up at night. “There’s a lot of fraud in this space, because it’s the hot area of the moment,” Peirce told CNBC on the sidelines

Geopolitical upheaval has thrust energy security back into focus, the group CEO of Malaysian oil and gas giant Petronas said. Energy markets have been volatile since Russia invaded Ukraine in late February. The U.S. banned Russian energy imports while the EU proposed curbing purchases of Russian oil. Russia has cut off gas supplies to some

Charging port for a Ford Motor Co. Mustang during the Washington Auto Show in Washington, D.C., on Friday, Jan. 21, 2022. Al Drago | Bloomberg | Getty Images As gas prices hit record highs, some Americans might be tempted to go electric and ease the pain at the pump. But finding a shiny, new electric vehicle

Spanish Prime Minister Pedro Sanchez has said his country — and southern Europe more broadly — could provide an answer to the shortfall in gas supplies from Russia as the region looks to double down on sanctions against Moscow. “Spain and, I would say, Southern Europe, will have a chance to provide an answer to this

Naftogaz CEO Yuriy Vitrenko says OPEC is on the wrong side of history in choosing to stick with Russia. Future Publishing | Future Publishing | Getty Images The chief executive of Ukrainian state energy giant Naftogaz says oil producer group OPEC is on the wrong side of history in choosing to stick with Russia to

As the summer driving season nears, gasoline prices show no signs of slowing down. The national average for unleaded gas hit a new high of $4.59 per gallon Thursday, according to AAA. For the first time ever, the average price was $4 per gallon or above in all 50 states this week, AAA data shows. Last year at

The current oil crisis isn’t like previous ones — and consumers will have to bear the brunt of it even as they grapple with rising inflation, Angela Wilkinson from the World Energy Council told CNBC. “I think this is a first global energy shock, this isn’t the same as the 1970s crisis, oil shock crisis.

A wind turbine and coal in Lower Saxony, Germany. The EU’s desire to wean itself off Russian hydrocarbons means it will need to find fossil fuels from other parts of the world to plug supply gaps. Mia Bucher | Picture Alliance | Getty Images The European Commission has fleshed out details of a plan to

Tesla’s Model 3 at the Tesla store in Washington, D.C. Salwan Georges | The Washington Post | Getty Images Automakers from Tesla to Rivian to Cadillac are hiking prices on their electric vehicles amid changing market conditions and rising commodity costs, specifically for key materials needed for EV batteries. Battery prices have been declining for

A drilling rig at a gas processing facility, operated by Gazprom. Maxim Shemetov | Reuters Russia may have just made its first retaliatory move against Finland after lawmakers in Helsinki officially applied to join the military alliance NATO. Gasum, Finland’s state-owned gas wholesaler, said in a statement Friday morning that natural gas imports from Russia

In this article .FKRX300 VOW3-DE BMW-DE 7203.T-JP RNO-FR Details of Renault’s Scénic Vision concept car were presented to the public on May 19, 2022. The firm’s idea of developing a passenger vehicle that uses hydrogen technology is not unique. Benjamin Girette | Bloomberg | Getty Images Renault has released details of an electric-hydrogen hybrid concept

A group of Ukrainian women demonstrate to call for further action against Russia near the headquarters of the EU Commission in Brussels, Belgium. Thierry Monasse | Getty Images News | Getty Images LONDON — Reflecting on energy markets just over one month into Russia’s onslaught in Ukraine, Saudi Arabia’s top energy official said: “Look at

In this article @RB.1 @CL.1 A sign displays gas prices at a gas station on May 10, 2022 in San Mateo County, California. Liu Guanguan | China News Service | Getty Images The surge in gasoline prices is impossible to miss and at the top of consumers’ minds as large billboards announce that gas now

An oil flare burns at Repsol’s oil refining complex in Cartagena, Spain. Repsol was one of the top sellers of assets between 2017 and 2021 in EDF’s analysis. Bloomberg | Bloomberg | Getty Images Oil and gas giants are increasingly selling off dirty assets to private firms, amplifying concerns that the fossil fuel industry’s traditional

A woman rides an electric bike past a gas station as current gasoline prices continues to climb close to record setting territory in Encinitas, California, May 9, 2022. Mike Blake | Reuters U.S. households are now spending the equivalent of $5,000 a year on gasoline, up from $2,800 a year ago, according to Yardeni Research.

A customer pays for his fruit and vegetables with a ten pound sterling note, at a trader’s market stall in London on May 12, 2022. – Britain’s economy shrank in March on fallout from soaring inflation, increasing the prospect of the country falling into recession. Official first-quarter data on Thursday showed that following solid output

Workers operate a drilling rig for an EBR Energy LP natural gas well near Columbus, Texas. Scott Dalton | Bloomberg | Getty Images U.S. natural gas prices more than doubled since the start of the year, and this summer’s air conditioning season could send them soaring by at least another 25%. In the futures market,

In this article BAB-GB An image of the £4.6 million FastBlade facility. Scotland has a long association with North Sea oil and gas production, but in recent years it’s also become a hub for companies and projects focused on tidal power and marine energy in general. Jeff J Mitchell | Getty Images News | Getty