MoneyWeek

Big Oil remains big business

The World Meteorological Organisation, an agency of the United Nations, has sounded a “red alert” on climate change, stating that 2023 was the hottest year since statistics began, with temperature records broken “and in some cases smashed”. They see “a high probability that 2024 will break the record of 2023”.

In the UK, a warm winter, and consequently reduced consumption, has kept energy bills down. If this is the result of global warming, then, consumers will believe, this cloud has a very bright silver lining. Meanwhile, abundant rainfall makes it very unlikely that there will be water shortages in the summer.

Global supplies of liquefied natural gas have proved abundant and look set to rise further, despite the blocking of the Russian gas pipelines to

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