(Bloomberg) -- Could the era of cheap oil supply be gone for good?Most Read from BloombergWhy Americans and Britons Are Rushing to Buy Idyllic Homes in ItalyThe Top Money Maker at Deutsche Bank Reaps Billions From SingaporeCities' Answer to Sprawl? Go Wild.One of California’s Wealthiest Counties Could Run Out of Water Next SummerForget Palm Springs—Santa Fe Is the New Mecca for Modern ArchitectureThat’s the conclusion of some of the biggest commodities desks on Wall Street, where banks have been
(Bloomberg) -- Never in human history has a ton of coal cost more. Governments and utilities across the globe are willing to pay record sums to literally keep the lights on. That's the bruising reality that global leaders must face at the high-stakes climate talks in Glasgow this month as hopes fade for a deal to end the world’s reliance on the dirtiest fuel.Most Read from BloombergWhy Americans and Britons Are Rushing to Buy Idyllic Homes in ItalyThe Top Money Maker at Deutsche Bank Reaps Billi
RIYADH (Reuters) -Saudi Arabia's crown prince said on Saturday that the world's top oil exporter aims to reach zero-net emissions by 2060 and more than double its annual target to reduce carbon emissions. Crown Prince Mohammed bin Salman and his energy minister said OPEC member Saudi Arabia would tackle climate change while ensuring oil market stability, stressing the continued importance of hydrocarbons. They were speaking at the Saudi Green Initiative (SGI), which comes ahead of COP26, the UN climate change conference in Glasgow at the end of the month, which hopes to agree deeper emissions cuts to tackle global warming.