Business Maverick: Sweden Turns to Burning Oil as Power Prices Soar to Record

The Karlshamn station, which burns heavy fuel oil and dates back to the early 1970s, has been running fairly regularly for about a week, according to operator Uniper SE. Power prices in the southern part of a country are at an all-time high for Wednesday, soaring as much as 51% in an auction on Nord Pool ASA.

It’s the latest evidence of how combating global warming has taken a backseat as Europe faces a historic energy crisis. Burning oil is a reliable source of generating power — but among the most polluting methods — and adds to the rising use of coal needed to meet demand in the region. The plant, which has a capacity of 662 megawatts, has been operating at about 200 to 300 megawatts and has been called upon “frequently over the past week from morning to night,” spokesman Torbjorn Larsson said by email.

The plant has been using between 50 and 70 tons of fuel per hour, he said. That would equate to about 9,000 barrels a day over a full 24-hour period, according to Bloomberg calculations. While the volume is small in the context of the global oil market, it underscores a continued trend of consumers burning more oil to generate electricity as natural gas prices soar to records.

So, now it’s ok for Sweden to pollute the atmosphere? Where are all the environmental activists? Greta Thurnburg is a Swede nogal! Frauds, the lot!

And we in south africa are betting on renewable like wind to solve our power crisis. Renewable are not consistent and reliable.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Business Maverick: Stocks weather growth risk weighing on oil, yields: markets wrapStocks in Asia weathered mounting signs of a sharp economic slowdown that are weighing on bond yields and commodity prices, a schism underlining some of the tension in global markets.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Business Maverick: Chip producers’ pandemic boom turns to bust with recession loomingEven in an industry famous for its roller-coaster cycles, chipmakers are bracing for a particularly severe shift in coming months, when a record-setting sales surge is threatening to give way to the worst decline in a decade or more.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Business Maverick: Citi sues Revlon over lender status after $900m mistakeThe bank has sued Revlon in a bid to resolve a nagging legal question that emerged after Citigroup mistakenly wired $900-million to the cosmetics giant’s lenders and intensified after Revlon filed for bankruptcy.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Business Maverick: Rio Tinto’s Offer to Take Over Giant Copper Mine Is RebuffedRio Tinto Group’s $2.7 billion offer to buy out Turquoise Hill Resources Ltd. has been rejected, blocking its efforts to gain greater control of a giant copper mine it’s developing in Mongolia. I wish everyone can be like you Lisa, I haven't lost since you have been managing my trading account, I love you so much LisaMarkdona2
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Business Maverick: China Bonds Rally as Rate Cut Reinforces Split With TreasuriesChina’s sovereign bonds are back on the menu for foreign investors. I wish everyone can be like you Lisa, I haven't lost since you have been managing my trading account, I love you so much LisaMarkdona2
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

Business Maverick: World embraces dirtier fuels as gas hits exorbitant heightsWith high natural gas prices showing no signs of abating and supplies becoming harder to obtain, cheaper and dirtier alternatives to the fuel are looking increasingly tempting for energy-hungry buyers.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »