Though fracking enabled the U.S. to finally re-achieve the long held conservative dream of energy independence, the ever-increasing volume of fracked fossil gas flowing out of the U.S., has led to an international glut as prices continue to fall. Now neck-deep in debt and historically unprofitable, pure play gas frackers are starting to struggle. Mass bankruptcies, shut-ins, and layoffs are likely. But Trump’s evisceration of environmental protection laws combined with ludicrously low liability bonds virtually ensures the public will be stuck with the clean up bill. Michael Buchsbaum explains.
Croatia’s plan to construct a liquified natural gas (LNG) import terminal has been on its energy policy agenda for decades, but was postponed over and over again. Finally investors have decided to build the Krk LNG terminal, and argue that it will increase energy security in Central Europe and the Balkans. But its impact can range from maintaining the country’s reliance on fossil fuels to becoming an underutilised piece of infrastructure sapping away governments’ attention from their renewable energy agendas, says John Szabó.
Under pressure from Trump, just weeks ahead of the European Parliamentary elections, the EU Commission signed a long-term agreement locking in at least 20-years of imported fracked Liquid Natural Gas (LNG) shipments. Despite hundreds of international environmental groups warning this will torpedo the goals of the 2015 Paris Climate Accords and retard plans to decarbonize Europe, EU President Juncker and Vice-President Maroš Šefčovič are hailing the deal as part of the continent’s on-going clean energy transition. L. Michael Buchsbaum takes a look.
Multi-lingual, multi-cultural and multi-ethnic, over 400 million voters Europeans from 28 member states are poised to elect a new Parliament and European Commission President. Given its lead position on climate and energy issues, and under pressure to accept more American fracked fossil gas, their decision will have global ramifications. L. Michael Buchsbaum takes a look.
Germany was once seen as the front-runner of the global energy transition, but it is now working against it at home and in Brussels, says L. Michael Buchbaum.