Gas prices are rising due to the attempted shift to renewable energy sources, OPEC Secretary General Mohammed Barkindo told CNBC on Sept. 21.
"I have talked about a new premium that is emerging in the energy markets that I term the transition premium," Barkindo told the financial news network at the Gastech conference in Dubai.
Gas prices in Europe have surged as much as 280% so far this year and are threatening to push up winter fuel bills, hurt consumption, and exacerbate a near-term spike in inflation.
Environmental groups and governments around the world have been advocating turning away from fossil fuel and using cleaner forms of energy to cut carbon emissions.
Recommended Reading
RWE Slashes Investment Upon Uncertainties in US Market
2025-03-20 - RWE introduced stricter investment criteria in the U.S. and cut planned investments by about 25% through 2030, citing regulatory uncertainties and supply chain constraints as some of the reason for the pullback.
TXO Partners CEO Bob R. Simpson to Retire
2025-03-20 - Gary D. Simpson and Brent W. Clum will serve as co-CEOs, effective April 1. Bob R. Simpson will remain chairman of the board, TXO said.
US Oil Company APA Lays Off Nearly 15% of Staff, Bloomberg News Reports
2025-03-19 - The news comes days after APA and its partners announced a successful oil discovery on their shared acreage in Alaska's North Slope.
NextEra Energy Resources CEO Rebecca Kujawa to Retire
2025-03-18 - NextEra Energy CFO Brian Bolster will become CEO for NextEra Energy Resources, and NextEra Energy Treasurer Mike Dunne will become CFO, the company says.
Williams Cos. COO Dunn to Retire
2025-03-13 - Williams Cos. COO Micheal Dunn was crediting with helping the company focus on a natural gas strategy.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.