Fossil fuel

Governments Spent Over €900 Billion On Subsidies For Fossil Fuels

Credit: Dan Meyers/Unsplash

The greatest amount ever recorded was more than €900 billion paid by governments on fossil fuel subsidies in 2022, as reported by Euro News.

Disruption in gas exports

The staggering amount is more than double the number for 2021, according to a recent analysis by the International Energy Agency (IEA).

The staggering number is related to Russia’s incursion into Ukraine.

Energy costs skyrocketed as a result of the war and the disruption to Russian fossil gas exports that...

https://mfame.guru/governments-spent-over-e900-billion-on-subsidies-for-fossil-fuels/

Investor-State Dispute Settlements Over Pipeline Project

Credits:Alvarez/Unsplash

Oil and gas investors are increasingly able to challenge nations over their climate policies because to investor-state dispute settlements, as reported by Grist.

Debate over pipeline project

For over a decade, the debate has raged over the Keystone XL pipeline project, which aimed to transport Canadian tar sands to the Gulf of Mexico.

After approving the project’s initial stages, the Obama administration rejected a permit allowing the pipeline to cross the national border...

https://mfame.guru/investor-state-dispute-settlements-over-pipeline-project/

Putin’s War Leaves West More Reliant Than Ever

Credits: Venti Views/ Unsplash

The war in Ukraine is strengthening the role of Asia and the Middle East as the world’s main providers of fuels like diesel and gasoline that are crucial to the global economy, says an article published on Japan Times.

Shortage of supplies

As Europe and the U.S. seek to cut off their dependence on Russian petroleum products, they are facing a shortage of supplies at home.

That’s opening opportunities for mega-refineries in places like China and Kuwait to flood the...

https://mfame.guru/putins-war-leaves-west-more-reliant-than-ever/

Green Hydrogen Investments Get A Boost from Soaring Gas Prices

Continued rapid investment in green hydrogen over next few years could mean the production cost will fall under $2/kg by 2030 from an average $3.80-$5.80/kg before the war in Ukraine. High natural gas prices have made hydrogen produced from fossil fuels increasingly uneconomic and spurred more than $70 billion of new investment in hydrogen from renewables since the war broke out in Ukraine, reports N Business.

Hydrogen production

Green or clean hydrogen is made using electrolysers powered by...

https://mfame.guru/green-hydrogen-investments-get-a-boost-from-soaring-gas-prices/

Russian Energy Exports Bring in €158 Billion

  • The United States argued for imposing  a price cap on Russia.
  • The Centre for Research on Energy and Clean Air called for more effective sanctions against Moscow .
  • CREA estimated the European Union was the top importer of Russian fossil fuel exporters, at €85.1 billion.

Russia raked in a whopping €158 billion in energy exports in six months following its invasion of Ukraine, with the EU accounting for more than half, says an article published in the Euractive.

Soaring gas prices

“Surging fossil...

https://mfame.guru/russian-energy-exports-bring-in-e158-billion/

What’s Maritime Industry Doing To Slash CO2 Emission?

Fossil fuel transport today is up against a grim carbon reality: if ocean shipping were a country, it would be the sixth-largest carbon emitter, releasing more CO2 annually than Germany. International shipping accounts for about 2.2% of all global greenhouse gas emissions. 

Winds of change, especially triggered by new international commerce and climate pacts and policies, could soon push us rapidly beyond carbon into a new age of sail, with the need for a planet-wide cargo fleet rebuilt from the...

https://mfame.guru/whats-maritime-industry-doing-to-slash-co2-emission/

Why There’s No Such Thing As Shipping Carbon-Neutral LNG

There’s been a lot of talk about carbon-neutral LNG in recent weeks. It’s all fake news, argues Wijnand Stoefs, shipping policy officer at Carbon Market Watch.

So-called carbon-neutral liquefied natural gas (LNG) is the new kid on the block when it comes to fake climate credentials. The number of deals across the world is growing at an alarming pace. This greenwashing trend is wrong at many levels, reports splash247.

Highly Polluting Business Model

First, let’s be clear that we’re not talking...

https://mfame.guru/why-theres-no-such-thing-as-shipping-carbon-neutral-lng/

Aramco and Hyundai Heavy on Blue Hydrogen and Ammonia Projects

Hyundai Heavy Industries Holdings, or HHIH, has signed a memorandum of understanding with Saudi Aramco on blue hydrogen and ammonia projects, a Hyundai Heavy official said March 4, reports Platts.

About The Process

Hyundai Oilbank, the oil refinery unit of HHIH, will import LPG from Saudi Aramco under the MOU to convert into blue hydrogen, which is hydrogen produced from fossil fuel in a process that captures CO2 emissions.

“Carbon dioxide captured and stored during the hydrogen production process...

https://mfame.guru/aramco-and-hyundai-heavy-on-blue-hydrogen-and-ammonia-projects/

Ships likely to be powered by ammonia and hydrogen, says IEA

Graphic: an illustration of a molecule of ammonia. The blue ball is an atom of nitrogen and the three grey balls are hydrogen atoms. Source: Image by Colin Behrens, Pixabay (with labels by SAL).

In the future,from about 2050 onward, the world shipping fleet will likely be powered by ammonia and hydrogen, says the International Energy Agency.

The IEA report, Technology Energy Perspectives 2020, notes that, “shipping is the least energy-intensive way to carry goods: despite the size of its share of...

https://shippingaustralia.com.au/ships-likely-to-be-powered-by-ammonia-and-hydrogen-says-iea/

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