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Energy shortages continue to ravage the globe

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Energy Shortage

Oil prices peak as countries deplete their energy stores

Oil peaked at its highest price in years on Monday, and as coal and gas prices soar countries are resorting to switching off their power.

Scarcity of these commodities has been triggered by the fall in U.S. gas production last year as well as the covid-19 recession.

Market Strategist Daniel Weiner says that the shortage is triggered by “[countries] trying to cut down on coal” as well as the “PPP not creating sure access to a gas supplier that would stabilise prices”.

Coal supply shortages and looming emission targets in China have grounded many factories.

Meanwhile, in Europe, with gas and power prices steadily growing some governments have taken to combatting prices.

Spain cut taxes to lower gas bills in June but has since reverted the move, blaming lost revenue and the continuing gas price boom.

ANZ bank analysts predict the gradual easing of restrictions across the globe will help recover fuel consumption, along with the the construction of additional oil and natural gas rigs in the U.S.

U.S. energy firms added oil and natural gas rigs for a sixth week in a row. PHOTO: BBC

White House Press Secretary says President Biden is reviewing options to address the energy crisis.

“Some of the issue here is the supply as a result of the pandemic, there’s a gas shortage around the world hence the need for the United States to continue to export natural gas,” she says.

Depleted energy and ongoing maintenance are some of the biggest contributors to the price surge.

While it may be a while before the world’s oil and gas stores recover, all eyes will be on the COP26 climate change conference to see if world leaders are planning to shift away from commodities like coal to greener energy.

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Epstein hearing explodes over redactions and hidden names

Lawmakers accuse AG Pam Bondi of hiding Epstein-linked names amid congressional hearing, questioning redactions related to billionaire Wexner.

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Lawmakers accuse AG Pam Bondi of hiding Epstein-linked names amid congressional hearing, questioning redactions related to billionaire Wexner.

US lawmakers have accused Attorney General Pam Bondi of withholding key names linked to Jeffrey Epstein during a fiery congressional hearing. The confrontation centred on redactions within investigative files that critics argue should have been fully disclosed under federal law.

Representative Thomas Massie pressed the Justice Department over blacked-out sections, specifically questioning references to billionaire Leslie Wexner. Bondi maintained that Wexner’s name was released promptly once flagged, defending the department’s handling of the documents.

Frustration boiled over as lawmakers challenged the extent of the redactions, leading to an extraordinary moment in the hearing as Bondi pushed back and praised President Donald Trump while standing by the department’s review process.


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#EpsteinFiles #PamBondi #USPolitics #Congress #JeffreyEpstein #BreakingNews #PoliticalDrama #TickerNews


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Angus Taylor moves to challenge Sussan Ley for party leadership

Angus Taylor resigns from Coalition frontbench to challenge Sussan Ley amid Liberal Party divisions and declining poll support.

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Angus Taylor resigns from Coalition frontbench to challenge Sussan Ley amid Liberal Party divisions and declining poll support.

Angus Taylor has resigned from the Coalition frontbench to launch a leadership challenge against Sussan Ley, declaring he lacks confidence in her ability to rebuild support for the Liberal Party. His move sets up a high-stakes internal contest that could reshape the party’s direction.

Supporters of Mr Taylor are expected to push for a meeting by Friday to trigger a potential leadership spill, intensifying pressure on Ms Ley. Moderate MPs are calling on her to demand clear proof of numbers before any ballot takes place.

With the Liberals trailing in the polls and facing mounting questions over strategy, both camps are outlining starkly different visions for the party’s future as tensions rise in Canberra.

#AustralianPolitics #LiberalParty #AngusTaylor #SussanLey #LeadershipSpill #Canberra #AusPol #PoliticalNews

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Iran buries nuclear site entrances amid rising tensions with the U.S.

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Satellite images reveal that Iran has buried all three tunnel entrances at its Isfahan nuclear complex. Analysts say the move mirrors defensive preparations taken before U.S. airstrikes devastated the facility last year, with no vehicle or personnel activity visible around the entrances.

The burial appears aimed at limiting damage from potential airstrikes and complicating any ground raid targeting enriched uranium stored in the underground facility. Experts suggest equipment or materials may have been moved into the tunnels for protection, though this remains unconfirmed.

The fortification comes amid ongoing U.S.-Iran tensions. President Trump has demanded Iran curb its nuclear program, warning of military action, while Tehran insists halting uranium enrichment is unacceptable. Recent indirect talks in Oman showed little progress toward a new deal.


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