Trump energy secretary says gas prices might not drop back under $3 a gallon until 2027

Chris Wright says ‘I don’t know’ when asked about lower cost of gas as average price soars to $4 a gallon in US

Chris Wright, the Trump administration’s energy secretary, acknowledged Sunday that it might not be until 2027 before US gas prices come back under $3 a gallon.

Asked by Jake Tapper, the CNN State of the Union host, when he thought “it’s realistic for Americans to expect the gas will go back to under $3 a gallon”, Wright replied: “I don’t know. That could happen later this year. That might not happen until next year.”

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Record number of homes in Great Britain turn to green energy as fuel prices soar

Iran war drives demand for solar panels, heat pumps and EVs, with energy bills expected to rise 18% from July

British households are turning to green home energy upgrades in record numbers to try to keep bills down as the Iran crisis sends global oil and gas prices soaring, data from leading energy suppliers suggests.

Figures show demand for solar panels, electric vehicles and heat pumps in Great Britain has leapt since the war began on 28 February, as households brace for a sharp increase in monthly payments when the next energy price cap takes effect in the summer.

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Starmer implies he didn’t tell Trump he was ‘fed up’ about his impact on rising UK energy bills – as it happened

Prime minister says conversation with US president on Thursday night focused on need for ‘practical plan’ to open strait of Hormuz

Tony Blair, the former Labour prime minister, has joined those saying the government should allow drilling for oil and gas in the Rosebank and Jackdaw fields in the North Sea.

Both applications were approved by the last Conservative government, but then overturned by a court ruling. Ed Miliband, the energy secretary, has to make a decision about the revised applications operating in a quasi-judicial capacity, which means he has to follow due process and can’t take the decision purely on political ground.

The current debate [on energy policy] is deadlocked between two incomplete responses. The government argues the answer is to accelerate Clean Power 2030, focusing on decarbonising the electricity system as quickly as possible. The opposition argues that the answer is to expand domestic oil and gas production. Both positions contain elements of truth, but neither addresses the core strategic problem: outside the power sector the UK economy remains overwhelmingly dependent on fossil fuels, and electricity is still too expensive to support mass electrification.

The UK is caught in a self-reinforcing high-cost, low-electrification trap. High electricity costs suppress demand, slowing the uptake of electric vehicles, heat pumps and industrial electrification. Weak demand growth, in turn, means that the fixed costs of the system – from networks to long-term contracts – are spread across a smaller base, keeping prices high. The result is a system that is too expensive to electrify and therefore remains dependent on fossil fuels and exposed to global shocks …

The first of these vital measures will ban anyone from possessing or publishing harmful pornography that shows incest between family members, and sex between step or foster relations where one person is pretending to be under 18.

A further amendment will criminalise the publication and possession of pornography where an adult is roleplaying as a child.

This government is uncompromising in our mission to protect women and girls online, and we have taken action to stop tech firms from publishing this abusive content.

In February, we told platforms that they must remove reported non-consensual intimate images within 48 hours.

I greatly welcome the government’s plans to fully address harmful pornographic content such as incest, step-incest and the mimicking of child sexual abuse. This content that is freely and widely available online is deeply harmful, normalising child sexual abuse and abusive relationships within families …

Today the government has answered our calls for change, and I am delighted that once again the UK is leading the way on regulating this high harm industry.

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Cutting fuel to Australia ‘won’t happen’, says Singapore PM, as Albanese secures pledge from our largest petrol source

Australia and Singapore will ‘make maximum efforts to meet each other’s energy security needs’ in refined fuels and LNG, according to new agreement

Australia’s largest petrol source has pledged not to cut supplies, with Singapore’s prime minister telling Anthony Albanese that fuel will keep flowing despite the international crisis.

Albanese’s whistle-stop visit with his Singaporean counterpart, Lawrence Wong, culminated in a new agreement that the two countries would keep sending one another fuel and liquefied natural gas, amid the “acute energy crisis” caused by the war in the Middle East. Australia and Singapore will also add a legally binding addendum to their free trade agreement on essential supplies like energy.

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Strait of Hormuz not open, Abu Dhabi’s oil chief says as crude prices rise

Uncertainty over US-Iran ceasefire pushes price of Brent crude towards $100 a barrel

The boss of Abu Dhabi’s state-owned oil company has said the strait of Hormuz is “not open” despite the US-Iran ceasefire agreed earlier this week, as uncertainty over the truce pushed the price of Brent crude towards $100 a barrel on Thursday.

Sultan Al Jaber, the chief executive officer of the Abu Dhabi National Oil Company (Adnoc), said passage through the crucial waterway was subject to “permission, conditions and political leverage” by Iran. He said energy security and global economic stability depended on the strait being opened “fully, unconditionally and without restriction”.

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New North Sea drilling would barely reduce UK gas imports at all, data shows

Exclusive: research finds Jackdaw field would provide only about 2% of current demand, and Rosebank only 1%

Opening major new fields in the North Sea would make almost no difference to the UK’s reliance on gas imports, research has shown.

The Jackdaw field, one of the largest unexploited gasfields in the North Sea, would displace only 2% of the UK’s current imports of gas, which would leave the UK still almost entirely dependent on supplies from Norway and a few other sources.

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Hundreds of North Sea licences granted by Conservatives have ‘so far produced only 36 days worth of gas’

Exclusive: Findings cast doubt on claims new drilling would help cut bills and boost energy security, researchers say

Hundreds of licences granted for new oil and gas projects in the North Sea under the Conservatives have so far produced only 36 days’ worth of gas, according to analysis.

Research by the energy consultancy Voar and the campaign group Uplift found that between 2010 and 2024, the government handed out hundreds of new North Sea oil and gas licences in seven licensing rounds.

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‘The stakes are enormous’: how a prolonged Iran war could shock the global economy

Donald Trump’s ‘little excursion’ is likely to have long-term effects, from oil prices to inflation to growth, say experts

In the days after the US and Israel first bombed Iran, financial markets bet the economic fallout from Donald Trump’s “little excursion” in the Middle East would be short-lived.

“There are risks from higher oil prices longer term. But this is a tail risk,” one US-based fund manger said after the airstrike killing Iran’s supreme leader, Ayatollah Ali Khamenei. “History has shown time and time again that geopolitical flare-ups like this tend to be short-lived. This one should prove to be no exception.’’

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Gas giants warn against windfall gains tax as Pocock says ‘wartime profits’ should go to struggling Australians

Government faces political fight as industry says mooted 25% levy on exports would hurt Australia’s economy and energy security

Gas giants will lobby against any federal government moves to introduce a 25% export levy on windfall profits, as crossbenchers pressure the prime minister to redirect billions of dollars in “wartime profits” to Australians struggling amid the global energy crisis.

It comes after the prime minister’s department asked Treasury to model the effects of placing a flat 25% tax on gas exports, the ABC reported on Friday, along with any further changes to the petroleum resource rent tax (PRRT) and corporate income tax.

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Great Britain has only two days of gas stored, while Iran war threatens to disrupt supplies

National Gas insists storage broadly in line with levels for time of year despite disruption for tankers carrying LNG

Great Britain has only two days of fossil gas stored after a decline in energy reserves, as more tankers carrying liquefied natural gas (LNG) are diverted from their course to Europe towards Asia because of the Iran war.

Great Britain had 6,999 gigawatt hours (GWh) of fossil gas stored on Saturday, according to figures from National Gas, which owns and operates the gas national transmission system. This compares with 9,105 GWh a year earlier.

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White House worries as gas prices jump amid ongoing US-Israel war on Iran

US drivers are largely insulated from higher oil prices caused by Middle East turmoil – but only to a point

Across the US, the average cost of a gallon of regular gasoline has jumped nearly 27 cents in a week, to $3.25, and American consumers are bracing for higher prices at the gas pump as the US-Israel conflict with Iran threatens to disrupt the global oil supply.

That fear has entered the White House too, where Donald Trump’s chief of staff, Susie Wiles, is reportedly hunting for ideas to lower gasoline prices and officials are getting “screamed at” to bring good news, according to Politico.

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Oil price continues to rise amid Middle East crisis but stock markets rebound across Asia

Reports of attack on US registered tanker in Gulf lifts crude by 3% to $84 a barrel as gas price also starts to climb

Stock markets have rebounded in Asia after days of heavy losses driven by the war in the Middle East, but oil and gas prices have continued to climb amid disruption to supplies.

South Korea’s KOSPI, which posted its biggest ever fall on Tuesday of 12%, rose by almost 10% on Thursday, while Japan’s Nikkei climbed by 1.9%. MSCI’s Asia-Pacific index excluding Japan jumped by 2.7%.

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US and Japan unveil $36bn of oil, gas and critical minerals projects in challenge to China

Donald Trump says deals ‘end our foolish dependence on foreign sources’, while Japanese PM hails enhanced economic security

Japan has drawn up plans for investments in US oil, gas and critical mineral projects worth about $36bn under the first wave of a deal with Donald Trump.

The US president and Sanae Takaichi, Japan’s prime minister, announced a trio of projects including a power plant in Portsmouth, Ohio, billed by the Trump administration as the largest natural gas-fired generating facility in US history.

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Trump sanctions have swift impact but will world stop buying Russian oil and gas?

Analysts say president’s war on Russia’s fossil fuel revenues is a chance to bring peace to Ukraine and profit to US

Donald Trump’s stated mission to broker peace in Ukraine could come down to this simple question: can the US president convince the world to stop buying Russia’s fossil fuels?

Last week, Trump imposed sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, in an effort to damage Moscow’s ability to fund its war machine.

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US demands EU reverse new climate rules to allow surge in gas imports

US and Qatar say new rules will hinder imports of LNG, posing ‘existential threat’ to European economies

The US has demanded that the European Union roll back its climate and human rights rules in order to allow greater imports of liquefied natural gas (LNG), as the Trump administration approved a controversial gas export hub along the Gulf of Mexico coast.

A letter jointly sent by the US and Qatar, two of the three largest LNG exporters in the world, warned the EU that its new rules pose an “existential threat” to European economies as they would hinder imports of gas from countries such as theirs.

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Energy firms complete UK’s first ‘hydrogen blending’ trial to power grid

A 2% blend of low-carbon gas injected into gas grid to fuel Brigg power station in North Lincolnshire is a UK first

Energy companies have injected green hydrogen into Britain’s gas grid and used the low-carbon gas to generate electricity, in a landmark development for the UK’s climate ambitions.

For the first time in the UK, a 2% blend of green hydrogen was injected into the gas grid and blended with traditional gas to fuel the Brigg power station in North Lincolnshire which generated electricity for the power system.

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Germany seeks to extradite Ukrainian over 2022 Nord Stream gas pipeline attack

Man held in Poland on suspicion of causing explosions that damaged undersea pipelines between Russia and Germany

Germany is seeking to extradite a Ukrainian man arrested in Poland on suspicion of diving down to the Baltic sea bed to plant explosives in the 2022 Nord Stream gas pipeline attack.

The man, identified in Polish media reports as Volodymyr Z and by Germany as Vladimir Z, is described as a trained diver and is sought by investigators in Germany, who believe he was part of a group that sabotaged the pipeline, consisting of the Nord Stream 1 and Nord Stream 2 pipelines.

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EU risks breaking international law over Israel gas deal, say campaigners

Europe accused of ‘trampling over Palestinian rights’ with deal linked to imports from pipeline running parallel to Gaza coast

The EU is “trampling over Palestinian rights” and risks breaching international law, over an energy deal signed with Israel to bring more gas to Europe, a campaign group has said.

A report by Global Witness shared exclusively with the Guardian concludes that the EU could be “complicit in breaches of international law” over a 2022 energy deal linked to gas imports from a pipeline said to traverse Palestinian waters. The NGO has called on the EU to cancel all gas imports linked to the East Mediterranean Gas (EMG) pipeline and terminate the 2022 deal, which was also signed with Egypt.

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Don’t believe the hype: Victorian government deserves credit for not buckling to aggressive pro-gas campaign

Australia’s most gas-reliant state takes a significant step to move households and businesses away from fossil fuels and cut energy bills

It didn’t go as far as previously flagged, but don’t believe the negative hype about Victoria’s plan to start weaning off gas: it is a significant step that will help drive households and businesses away from fossil fuels and cut energy bills.

The Allan Labor government announced that gas heating and hot water systems will be banned in all new homes and nearly all new commercial buildings, including schools and hospitals, from 1 January 2027. They will not be connected to the state’s gas network and will run on electric systems. New agricultural and manufacturing buildings, some of which use gas for high-temperature industrial processes, are excluded.

Though still marketed as “natural”, and sometimes even as “clean”, gas is actually methane – a highly potent fossil fuel. It releases plenty of greenhouse gas when burned. The electricity grid is moving from being dominated by coal-fired power to renewable energy. Electric appliances are better for the planet and the people who live on it. It is a necessary part of getting to net zero emissions.

Gas is expensive. Analysis has found electrification of appliances should save households nearly $1,000 a year on their energy bills. There are upfront costs in getting new systems, but the Victorian policy is not forcing people to change over until their existing system is dead, and offers rebates to help with the change.

Victoria is running out of gas. For decades, it has relied on reservoirs in Bass Strait, but they are running low, and all potential new sources are expensive. The state government wants to install a 20-year floating liquified natural gas (LNG) import terminal near Geelong to make sure demand is met. It sounds ridiculous, but may be the least bad option available – after the most obvious one: reducing gas use as much as possible so that it is available for the few industrial processes that do not yet have viable alternatives.

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Federal Labor ministers at odds over contentious NT gas pipeline decision, internal document shows

Exclusive: Agriculture minister Julie Collins and Indigenous affairs minister Malarndirri McCarthy expressed concern over Sturt Plateau pipeline’s construction

Senior Albanese government ministers disagreed over whether a controversial Northern Territory gas pipeline should be allowed to go ahead without being fully assessed under national environment laws, an internal document shows.

An environment department brief from February shows representatives for the agriculture minister, Julie Collins, and the Indigenous affairs minister, Malarndirri McCarthy, were concerned about the impact of the Sturt Plateau pipeline’s construction on threatened species and First Nations communities.

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