energy prices

Politicians are often fed misleading information by corporate interests that oppose strong climate action, which masks the often overwhelming support of voters for key climate policies.

The world’s five largest listed oil companies have made profits of more than a quarter of a trillion dollars since Russia’s invasion of Ukraine led to dramatic increases in energy prices and household bills.

Analysts say 2024 will be a year of weaker oil prices, something that should bring some relief to weary consumers after two years of soaring energy costs.

Energy giant BP said on Tuesday it earned nearly $2.6 billion in the second quarter, almost half what it posted in the first three months of the year as oil and natural gas prices that surged after Russia's invasion of Ukraine have fallen.

Deloitte says energy prices will likely be volatile in the first quarter of 2023 as geopolitical uncertainty continues.

Canadian oil and gas companies are expected to increase spending in 2023, but analysts say it will be another year of modest growth and not a return to boom times.

Shell CEO Ben van Beurden is stepping down at the end of 2022 after nine years in charge, the energy giant said on Thursday, September 15, 2022, a change that comes as oil and natural gas companies are under pressure to shift away from fossil fuels even as they see soaring profits from energy price s driven up by Russia's war in Ukraine.

A top European Union official unveiled on Wednesday, September 14, 2022, a plan to cap the revenues of electricity producing companies that are making extraordinary profits due to the war in Ukraine and climate change, saying the proposal could raise $140 billion to help people hit by spiraling energy prices.

The European Union on Friday, September 9, 2022, intensified its mission to shield the population from dramatically increasing energy prices that threaten to plunge millions into cold and poverty over the winter as tensions mount with Russia over the war in Ukraine.

Government support for fossil fuel companies amid huge profits is a "roadblock" to tackling the climate crisis, the International Energy Agency says.

For the second time in a year, the federal government is invoking a little-known 1977 energy treaty between Canada and the United States in an effort to prevent a federal court from shutting down the Line 5 pipeline.

Deputy Prime Minister Chrystia Freeland said the federal government is absolutely concerned about inflation, but dismissed critics who called her callous and out of touch for suggesting the high cost of gas is a reminder of why we need to transition to greener energy solutions.

For all the talk about deficits, supply chains and other knock-on impacts of the COVID-19 pandemic, oil and gas have applied the bulk of the inflationary pressure on both global economies and household budgets, writes columnist Max Fawcett.

Bonn Climate Change Conference envoys walk out during Russian address.

The world is already facing high energy prices and a supply crunch that has hit consumers with high utility bills and pain at the gasoline pump.