G7

In June 2019, then-presidential candidate Joe Biden tweeted: “Trump doesn’t get the basics. He thinks his tariffs are being paid by China. Any freshman econ student could tell you that the American people are paying his tariffs.” Fast-forward five years to May 2024, and President Biden has announced a hike in tariffs on a variety of Chinese imports, including a 100% tariff that would significantly increase the price of Chinese-made electric vehicles. For a nation committed to reducing greenhouse gas emissions, efforts by the U.S. to block low-cost EVs might seem counterproductive. At a price of around US$12,000, Chinese automaker BYD’s Seagull electric car could quickly expand EV sales if it landed at that price in the U.S., where the cheapest new electric cars cost nearly three times more. As an expert in global supply chains, however, I believe the Biden tariffs can succeed in giving the U.S. EV industry room to grow. Without the tariffs, U.S. auto sa...

The G7 Environment, Energy and Climate meeting in Venaria Reale, on the outskirts of Turin, has officially concluded with the signature of the most industrialized countries in the world - and therefore furthest from achieving environmental objectives - of a final document in which, among the other things, the commitment to "phase out coal-fired power generation” by 2035.An intention which, especially in light of the less than commendable performances of recent years by the actors involved in the environmental issue, smells of farce, and which is formalized in the context of an event staged in a climate of strong repression, as usually happens when protests and protests take place.During the demonstrations, in fact, clashes took place on several occasions between the police and the demonstrators - repelled with water cannons, tear gas and truncheons - which caused several injuries. By examining the findings of the G7 in light of the current state of affairs, the issues c...

The Venaria Reale summit ends.European Commissioner Wopke Hoekstra:«An extraordinary success»

Minister Pichetto:«Italy presents itself with clear ideas».But here comes the rebuke of the experts:«None of the G7 economies are in line with climate objectives»

Through a year of war in Ukraine, the U.S. and most European nations have worked to help counter Russia, in supporting Ukraine both with armaments and in world energy markets. Russia was Europe’s main energy supplier when it invaded Ukraine, and President Vladimir Putin threatened to leave Europeans to freeze “like a wolf’s tail” – a reference to a famous Russian fairy tale – if they imposed sanctions on his country. But thanks to a combination of preparation and luck, Europe has avoided blackouts and power cutoffs. Instead, less wealthy nations like Pakistan and India have contended with electricity outages on the back of unaffordably high global natural gas prices. As a global energy policy analyst, I see this as the latest evidence that less wealthy nations often suffer the most from globalized oil and gas crises. I believe more volatility is possible. Russia has said that it will cut its crude oil production starting on March 1, 2023, by...