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Wheat prices could increase more than 40% and energy more than 50% this year, according to the bank’s president, David Malpass.
While coal is having a resurgence as a fuel source, the spike in its use may not last.
Over the past several decades, several corporations have tried to distance themselves from being known as oil and gas companies.
Usually the gas is burned off at the well. Environmentalists say using it for mining incentivizes more drilling.
Hydropower is a diminishing resources in a megadrought.
The miners have blown through one town’s allocation of cheap power, while another has put a moratorium on new mining operations.
The decision by big oil companies like BP and Royal Dutch Shell to walk away from Russian energy puts the industry into uncharted territory.
For 15 years the EU has been talking about decreasing its dependence on Russia’s gas and oil, but it didn’t do it intime.
Europe is trying to pivot away from coal and crude oil, and has limited capacity for liquified natural gas.
A new report from McKinsey says that achieving net zero by the middle of the century will require over $9 trillion in annual spending between now and then.