STO 1.64% $8.08 santos limited

Climate activists are lamenting that many democratic countries...

  1. 1,525 Posts.
    lightbulb Created with Sketch. 376
    Climate activists are lamenting that many democratic countries (because EU, UK, Japan, USA etc. have banned all Russian coal imports; EU has banned about 90% of Russian oil imports; & EU & UK have banned 66% of gas imports from Russia, by 31.12.22- & planing to ban the remaining 33% of gas by 2024) are increasing expenditure on LNG & oil infrastructure.

    The EU, UK, USA, Japan etc. are very worried about their "energy security", following the Russian bans- & all realise that, in the near term, more fossil fuel will be needed, & understand that higher prices will be paid. It is not viable (base load power) or economic to replace all the Russian imports with renewable energy in the near term.


    bbc.com J. Fisher 8.6.22
    Fisher said
    Diversifying from Russian gas has meant investment in new liquefied natural gas (LNG) terminals.

    The world is witnessing a "gold rush" for new fossil fuel projects, according to a new report by leading climate change researchers.

    Soaring energy prices spurred by Russia's invasion of Ukraine have led to new investment in oil and gas.

    A report by Climate Action Tracker (CAT) says the world risks being locked into "irreversible warming".

    There is broad consensus that the emission of gases produced by fossil fuels must be dramatically cut by 2030.

    That is seen as the only path that would keep global temperature rises to 1.5 degrees and avoid the most damaging effects of climate change.


    "There seems to be really a gold rush for new fossil fuel infrastructure," Professor Niklas Höhne of NewClimate Institute, a CAT partner, told BBC News"..


    "Supposedly it helps with short-term energy supply, but new infrastructure once it's built will be there for decades and we will definitely miss the climate targets," he said.


    https://www.bbc.com/news/science-environment-61723252
    Last edited by Montalbano: 09/06/22
 
watchlist Created with Sketch. Add STO (ASX) to my watchlist
(20min delay)
Last
$8.08
Change
0.130(1.64%)
Mkt cap ! $26.14B
Open High Low Value Volume
$8.01 $8.09 $7.98 $67.54M 8.409M

Buyers (Bids)

No. Vol. Price($)
23 29973 $8.08
 

Sellers (Offers)

Price($) Vol. No.
$8.09 100051 25
View Market Depth
Last trade - 15.39pm 17/07/2024 (20 minute delay) ?
STO (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.