European Union leaders are set to urge faster integration of the bloc’s power and natural-gas markets to lower energy prices as the U.S. shale-gas revolution widens the EU’s cost gap with its largest trading partner.
As Japan’s cherry trees bloomed and the stock market soared, Kohetsu Watanabe flew to a blossom- viewing party in Tokyo hosted by Prime Minister Shinzo Abe to tell the premier personally how bad things really are.
European Union leaders struggling to find a consensus on how to overcome the debt crisis and revive economic growth will use a summit meeting this week to focus on fighting tax evasion and on the bloc’s energy policy.
Prime Minister Stephen Harper is seeking to counter opposition to TransCanada Corp.’s Keystone XL pipeline, a project crucial for boosting Canada’s economy and Harper’s plans to make the country an energy superpower to rival Saudi Arabia.
“Energiewende” may not be a household word in the United States today, but U.S. citizens and policymakers are likely to hear more about it. It’s the name of Germany's ambitious energy transformation, which aims to move the country to at least 80 percent of electricity from renewable energy sources by 2050.Germany already gets nearly 25 percent of its electricity from renewable sources, up from just under 7 percent thirteen years ago. That is no small feat. Germany is a manufacturing powerhouse: It's the world's fifth largest economy and third largest exporter.
Natural gas will increase its share of road transport fuels to 2.5 percent in 2018 from 1.4 percent in 2010 as consumers look for cheaper, cleaner forms of propulsion, according to the International Energy Agency.
As the U.S. sets records for natural gas production, the specter of shortages and surging prices has been replaced by a debate over how much to sell overseas. The bounty has fueled speculation President Barack Obama is ready to expand exports.
Bulgaria’s Gerb party of former Prime Minister Boyko Borissov and the rival Socialist Party are neck- and-neck before early elections, raising concern about the next administration’s ability to extend an austerity program.