World News
UN Calls for "Massive Shift" to Renewable Energy
A new United Nations (UN) report calls for a "massive shift" to the use of renewable energy to curb climate change, the BBC News reports.
The report comes from the UN Intergovernmental Panel on Climate Change (IPCC), which has the mission of providing scientific guidance on climate change and its impacts.
It notes rising emissions of greenhouse gasses, primarily carbon dioxide (CO2) from fossil fuel use.
Ed Davey, the United Kingdom's energy and climate change secretary, said "all technologies" must be used to combat global warming.
"We can do this, we have to because it's so challenging and threatening to our economies and societies, our health, our food security," he said.
"The report today shows we can do it if we have the political will."
The report points to natural gas as a "bridge fuel" that produces less greenhouse emissions than oil and coal and can be used temporarily while renewable energy technology gains traction.
It suggests natural gas deployment should rise, but then fall again as the use of solar and wind power increase, falling below current levels by 2050.
A report by Lloyd's Register (LR) last month suggested that, under the most optimistic scenario for international cooperation, the use of liquefied natural gas (LNG) for shipping would act as a temporary solution and be followed by widespread adoption of hydrogen fuel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 646.50 | 5.50 | 773.50 | 11.50 |
| Rotterdam | 604.00 | 5.00 | 756.00 | 5.00 |
| Houston | 630.50 | 1.00 | 798.50 | 4.00 |
| Fujairah | 650.50 | 3.00 | 897.00 | 13.50 |
| Global 20 Ports Average | 662.50 | 1.00 | 858.50 | 0.50 |
| Global 4 Ports Average | 633.00 | 3.50 | 806.00 | 6.50 |
| Global Average Bunker Price | 718.50 | 0.50 | 914.00 | 1.00 |
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