Multiple companies have invoked the principle of ‘force majeure’, which lets a party off the hook in case of unforeseen ‘acts of God’, to avoid penalties.
US President further said the oil will be sold at market price, and proceeds will be controlled by him to ensure they benefit Americans and Venezuelans.
What's happening in the fossil fuel industry is an example of the 'green paradox'—extract resources as quickly as possible when faced with the threat of future decreased market value.
Cutting Russia's oil and gas exports equals economic decapitation of the regime. Putin has already raised nuclear alert levels. Put oil and gas on the table, and he’s likely to up the ante.
In episode 668 of Cut The Clutter, ThePrint’s Shekhar Gupta narrates the story of fuel pricing in the country to unpack why prices have risen drastically.
Everything will carry on pretty much as they are if Trump is re-elected as US President. But if Biden wins, things will certainly change for domestic energy companies and policy.
The global oil slump has given Modi govt the cushion to hike fuel taxes to meet revenue shortfalls. But retail fuel prices still hover around pre-Covid-19 levels.
UP govt order to sugar mills to provide molasses to alcoholic drinks manufacturers at rates well below market levels means less is available to turn into ethanol.
Regulator seeks feedback on allowing firms to repurchase shares via exchanges after tax changes, as markets reel from war-led selloff and foreign outflows.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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