- “Stocks Sink While Oil Soars After US And Allies Consider Banning Russian Oil” • Stocks are tumbling Monday as oil prices are soaring to the highest level in 13 years, raising fears about a further spike in inflation that could damage the global economy. Brent crude also rose to the highest level since 2008, up 8% to $127.66 a barrel. [CNN]
- “UK Renewable Energy Projects Should Be Accelerated To Mitigate Impact Of Ukraine Conflict” • Energy experts called for the UK to press on with its push to roll out renewables, with the need to bolster energy security highlighted by the impact of Russia’s invasion of the Ukraine. EU and UK gas prices have now risen close to the record highs. [New Civil Engineer]
- “Elon Musk Backs More Oil Production And Expanded EU Nuclear Power To Combat Russia ” • Tesla CEO Elon Musk is calling for the expansion of nuclear power in Europe and greater oil production in the US as Russia’s invasion of Ukraine spikes prices and lays bare the EU’s energy vulnerabilities. Restarting nuclear plants is not easy, however. [Yahoo News]
- “Did Shell Change Its Mind About Russia?” • Did Shell Oil Company change its mind about Russia? Well, it’s complicated – at least, according to Shell. Shell was one of three oil companies cutting ties with Russia. But it bought 100,000 metric tons of Russia’s Urals crude from a commodity trader at $28.50 a barrel below the price of Brent crude. [CleanTechnica]
- “Ireland Hits New Wind Power Record” • Wind provided 53% of Ireland’s electricity in February 2022, its highest-ever share. Wind energy was also the number one source of electricity for the month and on 5 February set a new All-Ireland record for the amount of wind energy on the system at 4.6 GW, according to a Wind Energy Ireland report. [reNews]
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