As prices rise around the world - especially prices for fuel - one group is making record amounts of money: oil companies. While customers have struggled with rising prices, oil companies have made billions of dollars in profits.
Posts tagged as “gas”
In today's news roundup, Hurricane Ian brings flooding and power losses to Cuba and Florida, huge leaks in natural gas pipelines between Russia and Europe seem to have been caused on purpose, and Eliud Kipchoge breaks his marathon record by 30 seconds.
In today's news roundup, Tunisia's president ends Parliament after it criticizes his actions, Russia demands payment for its natural gas in rubles, and a large Airbus airplane makes a 3-hour flight powered by cooking oil.
On Tuesday, US President Joe Biden banned oil and natural gas imported from Russia in response to Russia's invasion of Ukraine. The UK plans a similar ban. For much of Europe, which depends heavily on fuel from Russia, a similar move isn't possible.
A sudden energy shortage following the coronavirus pandemic has led to increased demand for highly polluting fossil fuels. The demand comes at a time when the world's countries are trying hard to cut pollution and slow down the climate crisis.
Gas stations across the UK are running out of fuel, leading to huge lines of people looking for gas. The government is working on the problem, but a quick solution isn't likely. The country doesn't have enough truck drivers to deliver the needed fuel.
In July, Algeria became the last country in the world to stop selling leaded gasoline. The news marks a major step in improving the environment, and shows that the world's countries can work together to solve environmental problems.
Protesters in Canada have been blocking rail lines for over a week in an attempt to stop the Coastal GasLink pipeline. The costs of the protests are growing, with no signs that the problem will be resolved soon.