Top Recent Energy Industry Stories: 12/12/2023

Here’s what Breaking Energy staff are reading at other outlets.

on December 13, 2023 at 11:58 AM
  • The New York Times investigated the troubles faced by the offshore wind energy sector in recent years, finding that the rippling impact of the COVID-19 pandemic and rising interest rates have had a significant impact on the supply chains involved in the production, transportation, and installation of wind energy infrastructure. Despite these setbacks, states across the Northeast — with access to the turbine-friendly waters of the East Coast — are continuing to push for wind power.
  • Also from the New York Times comes an examination of the viability of carbon capture, an expensive technology intended to trap and bury carbon dioxide, preventing it from reaching the atmosphere. “Carbon capture and storage definitely could be a critical technology,” said Fatih Birol, executive director of the International Energy Agency. “But the history of carbon capture to date has largely been a disappointment.”
  • Trading houses that arose in the wake of reduced U.S. sanctions have begun to facilitate the sale of motor fuels and diluents necessary for oil production, Reuters reports. Venezuela itself, which has faced gasoline and diesel shortages in recent years, is prioritizing fuel imports in the run up to a presidential election in 2024. 
  • Several major companies that have made big pledges to work towards the reduction of greenhouse gasses, including insurance giant AIG, PepsiCo, and Amazon, are showing signs of wavering on those pledges, according to the Washington Post. “There is a massive credibility gap with these corporate targets,” said John Lang, project lead at Net Zero Tracker. “We need more regulation. Otherwise, the dial just will not turn.”
  • New buildings in the EU must have no emissions from fossil fuels by 2030 under a new set of rules agreed upon by members of the European Parliament, according to The Guardian. The new rules are also intended to end subsidies for oil and gas boilers by 2025. “Setting a date for ending fossil fuel heating in Europe’s buildings provides crucial clarity for consumers, and charts the path for the heating sector,” said Thomas Nowak, the head of the European Heat Pump Association.