Transcripts For BBCNEWS Verified 20240703 : vimarsana.com

BBCNEWS Verified July 3, 2024

Helped ease overall price rises in many countries, but there are concerns that a jump in crude could once again stoke inflation. So, governments are seeking alternatives, while still trying to balance the short term need for oil. Those alternatives could also help tackle Climate Change and keep global temperature rises to 1. 5 degrees above pre industrial levels. Just last week, the International Energy agency renewed its assertion that no new gas and oil projects were needed if the world was to meet that goal. Opecs Secretary General told my colleague, sally bundock, that the group doesnt agree. We have always, at opec, talked about the concern we have for future under investments, as some have called for stopping investment in oil. We believe this is equally dangerous. This will lead to volatility in the future, possibly supply shortages. And therefore, we at opec have always advocated for the importance of continuing to invest in the oil industry, as we also invest in decarbonising the industry and move on to adding other forms of alternative energy, such as renewables. From our perspective in opec, we look at the market global, holistic picture. Supply and demand, economic growth. And we have a technical, ministerial level body thejoint Ministerial Monitoring Committee that meets on a bimonthly basis. Hands on approach, as i said, proactive, pre emptive and precautionary. Well, lets talk about those ministerial meetings, because youve got one on wednesday of this week. Will there be changes to the current Production Cuts announced . We have an agreement in place that runs through till the end of 202a. I cannot say what the outcome of this meeting will be yet. We have to meet and wait and see. What do you see is your role, then, at opec and as Secretary General of opec, to lead the way when it comes to investment in Renewable Energy . At opec, we are advocating for the importance of investing both in oil, the whole value chain of the oil industry, which is a whole, full value chain that requires investments across the board. We see that number being close to m trillion us dollars from now until the year 2045. Thats for oil. But at the same time, our member countries are investing massively in renewables. Energy demand will grow by nearly 25 by the year 2045, compared to what it is today. And all forms of energies will be required. Therefore, we are investing in everything. Hydrogen, technologies to decarbonise the oil industry such as ccus, directair capture. And everything that relates to reducing emissions. So we take a holistic approach to the way we look at energy at opec and our member countries. A little earlier, i spoke tojoseph mcmonigle. Hes the Secretary General of the International Energy forum. Isaid, why i said, why not put all that money and investment into renewable sources instead of oil . I guess i would tend to agree with Secretary General al ghais about the need for investment in hydrocarbons because basically, since covid, weve been under investing in new oil and gas supplies. And you have to keep investing just to keep supplies flat, let alone meet future demand. So as a result, weve had less supply and more demand and prices have risen. And so, i guess i would make the point that if we dont invest in hydrocarbons and the new normal is higher prices and volatility, i worry that that could undermine public support for the transition, and for climate policy. So i think we have to be careful there. We have to manage the transition, we have to keep investing in Renewable Energy and in clean energy technologies. But at the same time, until alternative technologies are available, we have to keep investing in hydrocarbons and make sure prices dont get Out Of Control and undermine public support for climate policies. And well come onto prices in just a second. But you talk there about that need to keep investing in Fossilfuel Development and refining. The challenge is, it is so politically unpalatable right now to convince governments around the world that they can spend money on oil and gas when there is growing concern, there is a growing call for Renewable Energy and the impact that that will help, as far as Climate Change is concerned. How do you convince governments that Spending Money on Fossil Fuel Development is still in their interests . Well, look, i think were seeing it already now, in the last couple of years, in places like europe, which have been some of the leaders on the Energy Transition and investing in renewables. Theyre now investing in lng facilities, in more coal. So its already happening. And i guess i would say that it may be unpalatable, but if voters and the consumers in these countries are affected by higher prices, i guess im not really. To me, it doesnt matter what your political philosophy is, i think youre going to be concerned about hurrying consumers and the public with high energy prices. I think that is a very common thing to be concerned about if youre a policymaker, irregardless of what your political stripes may be. The view from the International Energy forum and we will talk more about that Oil Conference as that continues in abu dhabi. 20 years after it first started, facebook could be set to charge some users for access for the first time. The companys parent, meta, has been in vigorous talks with the European Union as it looks to counter new rules that stop it showing personalised ads without a users consent. And that has been a major source of cash for the company. Our correspondent erin delmore is in new york. These are just reports of possible proposals, but what we know about them so far . Them so far . Exactly. We see the ro osal them so far . Exactly. We see the preposal offers them so far . Exactly. We see the proposal offers two them so far . Exactly. We see the proposal offers two tiers them so far . Exactly. We see the proposal offers two tiers for proposal offers two tiers for European Union users of facebook and instagram. One is the one that people are used to and it is a free service, but that includes personalised ads. And that is a process by which a users digital footprint is used to determine which ads are most relevant to that consumer and we see this on a lot platforms are notjust facebook. But and meta and instagram is thinking about offering a second surface to include a subscription where the user pays a monthly fee and they were not a personalised ads, they could still access the platform, but without the ads. And the Rumoured Costis without the ads. And the rumoured cost is Something Like 10 euros a month to access facebook or instagram on desktop. Slightly higher on mobile, about 13 euros a month for facebook and instagram, a fee that apple charges for in App Purchases and a Bundle Component where if you add some of the services and platforms together, there is a bit of a reduced cost. It is good to talk to you, thank you so much from new york. In other news. Like many western companies, carlsberg has struggled to exit its russian operation since the war in ukraine began. Carlsberg says it is continuing to explore options, including legal action. In ghana, Hundreds Of Protesters have called for the governor of the central bank to step down. They are angry the bank has suffered heavy losses and is planning to spend more than 250 million on a new headquarters. That is despite an ongoing economic crisis that includes soaring inflation and rising public debt. Theres been a sharp rise in in the shares of the troubled Chinese Construction Company evergrande, after trading resumed. Reports suggest restructuring plans are making progress. Last thursday, the company said its founder and chairman was suspected of criminal behaviour, and the companys shares were suspended. In hong kong. Trading resumed earlier and the shares jumped more than 60 . One of the uks biggest Renewable Energy developers, banks renewables, is being bought by the Canadian Investment Firm brookfield. The 1 billion deal will give brookfield a range of onshore wind farms in Northern England and scotland, along with a range of wind, solar and battery projects in development. Other developers have recently warned of a challenging environment for Wind Power Due to rising costs. You are up to date with the business, youre watching bbc news. Bbc news, bringing you different stories from across the uk. It was chewing away and peeping up at the warrior� s face. The eyes that brought a smile to herface. A fantasy world, set in the fictional planet of kemi, tells a story of inhabitants who longed to possess superpowers. Written by birmingham based author sandra carter, pupils at holt school are enjoying an insight into herjourney as a writer. Where she would describe what the streets look like, the smells, the sights, its really important to create sensory imagery in a story. The way she used her language, so i remember she used a simile, like a melody or something. Ifound it. Its very provocative. I like i was there, in the moment, with characters. The event is one of many that have been taking place as part of europes biggest black book festival to raise awareness diverse authors which new audiences make books accessible to all. For more stories from across the uk, head to the bbc news website. Youre live with bbc news. Lets turn to india, the officers of homes ofjournalists working for an independent news website had been raided today by police in the indian capital, delhi. The operation follows allegations the new Site Newsclick was receiving illegal funding from china, which it has firmly denied. I spoke to our South Asian Regional Editor earlier. Same asian Regional Editor earlier. Some ofthe asian Regional Editor earlier. Some of the journalists asian Regional Editor earlier. Some of the journalists had asian Regional Editor earlier. Some of the journalists had been of thejournalists had been contributing to this news portal called newsclick and they tweeted this Morning Police had raided their houses and taken away their laptops and mobile phones. This is in connection with allegations of Money Laundering and illegalfrom Money Laundering and illegal from china. Money laundering and illegalfrom china. This all goes back to august, when the New York Times published a report saying a us based millionaire was having a number of Shell Companies and trying to influence media houses to put forward a chinese Point Of View and the newsclick was one of them. Of course, this was an allegation which the news portal strongly denied. But what happened this morning was surprising, not only surprising, but also sent a chilling message to the Journalistic Community in india. Because police have raided journalist, a stand up comedian, an historian, all of those who had links with this newsclick which they describe as an Independent News Media and the supporters of this news portal say they have been critical of the governments policies that has been affecting millions of people. And one of them tweeted on the Social Media Platform ex that he was held in a Police Station for several hours and the police were asking that related to his relationship with this company. And this has also triggered an angry response from media Rights Groups who say this is intimidated behaviour by the government. But the government says that they were not involved in these raids, only the investigating agencies are merely doing theirjobs. Pope francis has suggested that same sex couples could be blessed by the Catholic Church in the future. While some other christian denominations have allowed gay marriages and blessings, the vatican has always rejected a change. As our rome correspondent explained, it is not the first time the pope does not comments diverged from traditional catholic doctrine. He has traditional catholic doctrine. He has form and expressing a public or personal opinion that is different from the doctrine of the Catholic Church. In the Catholic Church going against that. So in 2020, he suggested that support for same sex civil unions only a few months later, for the vatican congregation for the doctrine of the faith to come out and absolutely say that was not going to come out desk not going to happen and ruled that god cannot bless sin. The question now, is this once again a personal opinion by a pope who is more on the liberal wing relatively speaking of the Catholic Church, which will not be confirmed by any doctrine or change from the vatican or is it something that is he trying to pull the Catholic Church behind him in a large discussion about catholic and Church Doctrine now taking place in rome this week, bringing together bishops and cardinals, and will there be a real change on this topic . Them real change on this topic . Two thou~hts real change on this topic . Two thoughts in real change on this topic . Two thoughts in one, real change on this topic . Two thoughts in one, if real change on this topic . Two thoughts in one, if you would. What reaction has there been since he made this suggestion . And in terms of decision making, you mentioned that meeting, when could there be any sort of formal decision or are we a long way from that . We any sort of formal decision or are we a long way from that . Any sort of formal decision or are we a long way from that . We are a lona wa we a long way from that . We are a long way from we a long way from that . We are a long way from that we a long way from that . We are a long way from that because we a long way from that . We are a long way from that because it we a long way from that . We are a. Long way from that because it would have to come through a Church Document that could happen in 2024, 2025, so still quite a long way from that and the Catholic Church sometimes take centuries to make decisions. On the reaction Point Of View, it very much depends on who you speak to. In germany, there are priests who have blessed same sex unions. In america, there is the more liberal wing of the Catholic Church in places like new york where they broadly welcome this, but there is a strong conservative part of the jaw part of the church in africa and the Southern Hemisphere still wedded to staunch opposition to any kind of vibe deer to bless same sex civil unions. So in terms of the reaction, that echoes the divisions at the heart of the Catholic Church where you have the conservative wing worse is the more liberal wing represented by pope francis, we know which side he is on, we will have to see if he can pull the Catholic Church with him on something as fundamental as this. Now, spacejunk. We know its a growing problem but, for the first time, weve seen an American Company fined for not disposing properly of one of their satellites. Dish network has been fined 150,000 dollars by the regulator. Not a huge amount, maybe, but significant that its happened. There are thought to be around 5,000 non functional satellites in orbit in space thats a lot of space litter. Earlier, dr megan argo a Senior Lecturer in astrophysics at the University Of Central Lancashire explained the significance of the fines. The fact they have used their regulatory powers for the first time is likely to make the rest of the Industry Sit Up and pay attention, the fact they have used it once means they are more than likely to use it again. And this problem is going to get worse. Since the 1957 launch of sputnik, we have lodged over 10,000 satellites into earth orbit, less than half of those are currently functional. So as satellites age, they stop working, they run out of Battery Power and other things fail as part of the systems, solar panels can wear out over time. They end up sitting in space, as spacejunk. And there over time. They end up sitting in space, as space junk. And there are some ways to bring them down, some ways are easier than others. If you can bring them down, operators really should, but it costs time and money and extra effort to build that capability into your satellite in the first place.

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