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The Philippine Department of Energy (DOE) said it is crafting a carbon credit policy for the energy sector to ensure integrity in prospective carbon trading mechanisms and drive investment in clean energy. A consultation with around 120 representatives from various energy stakeholders was scheduled for August 19 on a draft DOE circular that will provide “guidelines for the issuance, management and monitoring of carbon credits in the energy sector”, according to a statement on the DOE website. The Carbon Credit Policy will “ensure environmental integrity by promoting projects that genuinely reduce emissions, enhance transparency and accountability through clear rules for…
No, AI doesn’t mean you don’t have to learn to code, at least according to one OpenAI researcher.Szymon Sidor recently sounded off on why, even in a world with ChatGPT, Cursor, and other AI tools, it’s still good for current high school students to learn basic coding.”You should absolutely learn to code,” Sidor said during episode of the company’s podcast from August. “One skill that is at a premium and will continue to be at a premium is having really structured intellect that can break down complicated problems into pieces.”Sidor, who has worked at OpenAI for over eight years, said…
Google, nuclear technology company Kairos Power, and the Tennessee Valley Authority (TVA) announced a new collaboration to deliver advanced nuclear energy to Google data centers in the US. Under the deal, TVA will purchase power from Kairos Power’s Hermes 2 plant in Tennessee, which will deliver up to 50 megawatts (MW) of 24-hour energy to the TVA grid. Google will then receive the clean energy attributes through TVA to support operations at its Tennessee, and Alabama data centers. The Hermes 2 plant is scheduled to begin operations in 2030. To speed up the delivery of clean energy, Kairos Power will…
Crude oil flows from Russia to Slovakia and Hungary have been restored after a Ukrainian attack suspended exports earlier this week, Reuters has reported, citing official statements.“The flow of oil to Slovakia is currently standard,” Slovak Economy Minister Denisa Sakova said in a statement, as quoted by the publication. “In the coming days, we will have clearer information about whether there will be any adjustments to the supply schedule for this month … However, I believe that given the rapid resumption of flow through the Druzhba pipeline, the impact will be minimal.”“Oil deliveries to Hungary via the Druzhba pipeline have…
Wells CM-1 and CM-2 in the Copper Moki field in New Zealand’s Taranaki Basin are now producing a combined 125 barrels of oil per day on average, about a month following workovers, Monumental Energy Corp. said Tuesday. “These rates continue to trend upward as pump speeds are gradually increased to optimize flow while preventing sand from entering the borehole”, the Vancouver, Canada-based company said in a statement online. “The pumps will continue to be turned up to its set daily production rate of 175 but will be tested higher to see what the wells can produce at capacity”, Maximilian Sali,…
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The melting of sea ice in the Arctic has slowed dramatically in the past 20 years, scientists have reported, with no statistically significant decline in its extent since 2005.The finding is surprising, the researchers say, given that carbon emissions from fossil fuel burning have continued to rise and trap ever more heat over that time.They said natural variations in ocean currents that limit ice melting had probably balanced out the continuing rise in global temperatures. However, they said this was only a temporary reprieve and melting was highly likely to start again at about double the long-term rate at some…
Fed Governor Michelle Bowman also hit the wires yesterday and doubled down on her dissent. Speaking to Bloomberg, Bowman said that ‘the story is out there’, and added that ‘she had not changed her views’. You may recall that both Bowman and Fed Governor Christopher Waller dissented at the previous Fed meeting, calling for a 25-basis point (bp) rate cut, which marked the first time since the 1980s that two Fed Governors dissented. She also brushed off speculation that she is in the running for the new Fed Chair spot. NZD and GBP in Focus in Early Trading In the…
The Russian Embassy in India on Wednesday said that Moscow aims to narrow the trade imbalance with New Delhi and continue energy supplies while seeking to remove trade barriers, Reuters reported.The embassy noted that mechanisms are already in place to ensure the steady flow of oil to India despite the political situation.India has become one of the largest buyers of Russian crude since 2022, even as Western sanctions altered global oil trade flows. The statement also comes as India’s External Affairs Minister S Jaishankar is on a 3-day visit to Moscow. “India matters very much to Russia. We understand the…
New Delhi: Vedanta Chairman Anil Agarwal on Wednesday said India must produce at least half of its oil and gas requirements domestically to ensure long-term energy security, even as the country expands renewables and coal output.“For India’s energy security, at least 50 per cent of oil and gas must be produced within the country,” Agarwal said in a social media post, stressing that self-reliance was critical as global consumption continues to grow.Calling on young entrepreneurs to drive this transformation, he added, “This is the work of our youth. They should be encouraged with easier compliance and genuine ease of doing…