Shipping industry faces higher costs as marine fuel rises 23% this year

The shipping industry is starting to feel the full force of surging diesel and petrol costs. Ship fuel can be made from some of the same ingredients that refiners can also put into diesel and petrol. But soaring margins of the latter two fuels are making their production more attractive, resulting in tighter supplies for

Global energy transition to cause short-term economic pain

The transition to clean energy required to prevent temperatures from rising swiftly could shave 2% off global GDP by 2050 but is likely recoverable before the end of the century, a report by natural resources consultancy Wood Mackenzie said on Thursday. While investments in technologies like solar and wind farms, advanced batteries will generate jobs,