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Oil continues to rally amid signs of improved global demand


At a ministerial meeting earlier this week, Opec+, which is headed by Saudi Arabia and Russia, said it decided to stick to its earlier decision to return 2 million barrels per day to the market with the pace being determined according to market conditions .
Traders are feeling a lot more optimistic about the reopening of the global economy and the continuation of the vaccination process, said Naeem Aslam, chief market analyst at AvaTrade.
Traders also understand that the US and Iran s nuclear deal cannot be reinstated that easily and it will take a while before the previous conditions are enacted. This means no immediate increase in oil supply and this is also supposing oil prices. ....

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Carbon-free LNG powers Spanish ferry


Carbon-free LNG powers Spanish ferry
Jun 3, 2021 9:20:am
Summary
by: William Powell
Posted in:
Carbon-free LNG powers Spanish ferry
Swiss utility Axpo has supplied carbon-free LNG to Spanish ferry operator Balearia for a high-speed crossing, it said June 3 – the first such crossing to be so fuelled. The
Eleanor Roosevelt travelled the 133 nautical miles between Barcelona and Ciutadella in Menorca using renewable biomethane certified by Axpo Iberia. 
The use of liquefied climate-friendly biomethane avoided the emission of more than 50 metric tons of CO
2.
Axpo Iberia s head Ignacio Soneira said: The enormous challenges of achieving a carbon-free world demand the use of all the means at our disposal. This includes using energy produced from waste converted into biomethane. ....

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Reducing poverty can actually lower energy demand, finds research


As people around the world escape poverty, you might expect their energy use to increase. But my research in Nepal, Vietnam, and Zambia found the opposite: lower levels of deprivation were linked to lower levels of energy demand. What is behind this counter-intuitive finding?
After all, the prevailing strategy to end extreme poverty relies on the belief that we need to grow the economic “pie”, so we can produce more goods and services, at the same time as households and government spending capacity increases to consume those goods and services. And so, when poverty is “diagnosed” by income, the “remedy” is said to be economic growth. ....

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