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Energy shortages continue to ravage the globe
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.
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.
News
Israel launches its new “Iron Beam” laser system
Israel’s new “Iron Beam” laser defense system to deploy by year-end, promising cost-effective missile interception.
Israel’s new “Iron Beam” laser defense system to deploy by year-end, promising cost-effective missile interception.
Israel’s Defence Ministry says its new “Iron Beam” laser system will be deployed by year’s end. The technology is designed to destroy incoming missiles, rockets, drones and mortars with precision.
Developed by Rafael Advanced Defense Systems in partnership with Elbit Systems, Iron Beam will sit alongside existing defences such as Iron Dome, David’s Sling and Arrow. Unlike traditional interceptors which can cost tens of thousands of dollars per shot, the laser comes at negligible expense.
Officials call it the world’s first high-power laser interception system to achieve operational maturity, hailing it as a game-changer for modern warfare. Military leaders expect the system to reshape air defence capabilities and cut costs dramatically.
#Israel #Defence #LaserWeapons #TickerNews
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Stephen Colbert’s opening monologue on Jimmy Kimmel
Stephen Colbert condemns censorship and calls out Trump in powerful monologue dedicated to Jimmy Kimmel’s suspended show.
Stephen Colbert condemns censorship and calls out Trump in powerful monologue dedicated to Jimmy Kimmel’s suspended show.
Stephen Colbert’s opening monologue is being hailed as one of the most powerful moments in modern late-night history. Standing on stage at the Ed Sullivan Theatre, Colbert dedicated his show to Jimmy Kimmel and his team after ABC suspended Kimmel’s programme under pressure from Washington.
Colbert called the move “blatant censorship” and directly accused President Trump of acting like an autocrat. “With an autocrat, you cannot give an inch,” he warned, making clear that the stakes reach far beyond late-night comedy.
#StephenColbert #JimmyKimmel #FreeSpeech #TickerNews
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Charlie Kirk was scheduled to speak at Colorado State University
Despite cancellation, 10,000 gathered at CSU to support Charlie Kirk, creating a rally-like atmosphere.
Despite cancellation, 10,000 gathered at CSU to support Charlie Kirk, creating a rally-like atmosphere.
Charlie Kirk was scheduled to speak at Colorado State University in Fort Collins, but the event was meant to be cancelled. Despite that, thousands of people still turned up to celebrate his legacy.
As many as 10,000 people turned out, showing the extent of support for the conservative activist. The crowd gathered outside CSU, creating an atmosphere more like a political rally than a cancelled speech.
#CharlieKirk #FortCollins #CampusPolitics #TickerNews
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