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Five killed as Mexican plane carrying burned children crashes near Texas coast
Five people were killed when a Mexican Navy small aircraft crashed off the Texas coast, near Galveston on Monday. The plane was part of a mission for an organization that assists?burn victims and transfers them to the U.S. for treatment. Mexico's Navy Secretariat said that the aircraft was carrying eight people: four?naval and four civilians. Two people are still alive and one person is missing. The aircraft was on an 'assignment to provide specialized medical transportation. The Michou y Mau Foundation, which helps Mexican children with severe burns, coordinated the operation. The Mexican authorities added that investigations?will be conducted to determine the causes of the crash. Reporting by Aida Pélaez-Fernandez Editing Frances Kerry
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Trump: US needs Greenland to ensure security. Envoy is appointed to 'lead charge'
Donald Trump, the president of the United States, reaffirmed on Monday the need for Greenland to ensure the national security of the United States. He said that the special envoy appointed by him would "lead" the charge. Trump appointed Jeff Landry, the governor of Louisiana, as his special representative to Greenland on Sunday. This drew criticism from Denmark and Greenland regarding Washington's interest for this mineral-rich Arctic Island. Trump has argued that Greenland should become a part of the United States. He cited its strategic importance and its mineral resources. Landry, the governor who assumed office in January 2024 publicly supports this idea. "We need Greenland not for minerals, but for national security. You can see Russian and Chinese vessels all along the coast of Greenland. It is vital for our national security. Landry wants to "lead" the charge. Mette Frederiksen, Danish Prime Minister and Jens-Frederik Nilsen, Greenland Prime Minister said earlier in a statement that Greenland belonged to Greenlanders. You cannot annex another nation. They said that they would not annex another country, even if it was a matter of?international safety'. "Greenland belongs exclusively to Greenlanders, and the U.S. will not take it over." Landry thanked Trump in a post he made on X: "It is an honor to serve... as a volunteer in this position to make 'Greenland' a part the U.S." This does not affect my position as the Governor of Louisiana! On Monday, the Trump administration increased pressure on Copenhagen by suspending leases on five large offshore wind projects, two of which were developed by Denmark's Orsted, the state-owned energy company. GREENLANDS STRATEGIC VALUE Greenland is a former Danish Colony with 57,000 people. A 2009 agreement gives it the right to declare its independence, but it remains heavily dependent on Danish subsidies and fishing. The strategic location of the country between Europe and North America is a major site for U.S. missile defence systems, while its rich mineral resources have increased U.S. interests in reducing their reliance on Chinese imports. Greenland's Nielsen posted on Facebook after Trump announced the appointment on Sunday: "We are awoken again by a new announcement made by the U.S. President." It may seem big, but for us it doesn't change anything. "We decide our own destiny." DIPLOMATIC TENSIONS ESCALATE The Danish Foreign Minister, Lars?Lokke Rasmussen, said on Monday that he will summon U.S. The U.S. Ambassador Kenneth Howery had promised "mutual respect" on a recent trip to Greenland. "Out of the blue, there is now a special U.S. Presidential representative who, according him, has been tasked to take over Greenland. Rasmussen said to TV2, "This is of course completely unacceptable." Denmark has been trying to mend strained relations with Greenland in the past year. It also tries to ease tensions between it and the Trump administration, by investing in Arctic defense to 'address U.S. critics of inadequate security. In an Instagram post, Prime Minister Frederiksen stated: "It's a tough situation that our lifetime allies are putting us into." Mikkel Vedby, a professor of political science at the University of Copenhagen said: "This appointment proves that all of the money Denmark invested in Greenland and in the defense of the Arctic as well as all of the nice things we've said to Americans have had no impact at all." Reporting by Siddharth Cavale in New York, Arathy Somasekhar, in Houston, and Jacob GronholtPedersen, in Copenhagen. Additional reporting by Anusha Shah in Bengaluru; Soren Sirich Jenppesen, Stine Jacobsen, and Steve Holland, in Palm Beach. Editing by Gareth Jones, Howard Goller.
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EU expands compensation to industry for costs of emissions regulations
It said that the European Commission would allow energy-intensive industries to get compensation to offset the cost of meeting EU emission?rules. The European Union, under pressure from some member countries and industries, has taken a number of steps to reduce the burden of climate legislation to ensure that European businesses remain competitive. The changes made on Tuesday loosen the rules for so-called state aids, which allow member states to compensate the industries for a portion of the increased power bills that result from the carbon price increase. Commission: The new guidelines will prevent "carbon leakage" which occurs when production is moved to countries outside of the EU that have weaker emission restrictions or when EU products are substituted with more carbon-intensive imports. The 'list of industrial sectors eligible to receive compensation under the EU's emissions trading system has been extended to include 20 additional sectors, such as the production?of organic chemical and certain activities in the ceramic, glass, and battery sectors. The Commission stated that the expansion was necessary because emissions costs have increased significantly in recent times, putting more industries at risk of carbon leakage. (Reporting and editing by Bart Meijer)
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Sinkholes in Turkey’s agricultural heartland cause farmers to be concerned
Due to the dwindling rain and receding water levels, hundreds of sinkholes are appearing in Turkey's agricultural central region. This is causing concern among environmentalists and farmers who view it as an?unsettling sign of climate changes. In Karapinar, Konya, sinkholes are a common sight on farmland that produces?maize?,?wheat? and sugar beet. At times, there can be more than 10 in a single field. Ancient sinkholes in mountainous regions, which were once filled with water, are now mostly dry. According to Fetullah rik, a professor of geology at Konya Technical University who studies sinkholes, the pace at which they form has increased in recent years. The total is now approaching 700. Arik explained that the main reasons for the increase are climate change and the?drought which has affected the entire world since 2000. The groundwater level is decreasing every year as a result. He stated that the rate of groundwater?levels' decline has increased to 4 to 5 metres per year compared to half an metre per annual in the 2000s. This is a cause for concern in Turkey's main agricultural sector. Local farmers are forced to dig additional wells due to the drought and the receding water table. Many of these wells are not licensed, which further depletes the groundwater. Arik added that the demand for water in the Konya basin is extremely high. There are approximately 120,000 wells without licenses compared to 40,000 licensed ones. He said that while the new sinkholes had not yet caused any deaths, they were unpredictable and could endanger the lives of the locals. In the past two years, Mustafa Sik's farm in Karapinar has been ravaged by sinkholes. Sik's brother was working at the farm, a short distance away, in August 2024, when the second sinkhole appeared with a "terrifying, extremely loud rumbling sound." Geologists on Sik's Land found two additional areas where sinkholes may form, but it is impossible to predict when they will occur. "Are we worried? He said, "Of course we are worried." Reporting by Ali Kucukgocmen, Editing by Daren and Alexandra Hudson
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AI data centers force 'peaker power' plants to be brought back into service
The demand for electricity from AI data centers is reviving peaker power plants Peakers emit more pollutants than power plants. The majority of power plants are located in minority and low-income communities By Laila Kearney Dec 23, CHICAGO - A 60s oil-fired plant rises from an industrial site behind Dvorak Park in Chicago's working class Pilsen district. In warmer weather, the park is crowded with children playing on its colorful playground or zooming down slides. Next year, the eight-unit Fisk Power Plant owned by Houston's NRG Energy is scheduled to be retired. The next step was artificial intelligence. As electricity demand from data centers outstripped existing supply, prices shot up on the country's largest power market – PJM Interconnection – alarming about power shortages and making Fisk & other plants like them suddenly profitable. Matt Pistner said that NRG's senior vice president for generation, Matt Pistner, retracted the retirement notice from eight Fisk power-generating units. Fisk is one of a growing number "peaker" units that are being used to power the U.S.'s electrical grid, with the demand for artificial intelligence from Big Tech data centers. Peakers are designed to operate in short bursts when electricity demand spikes. They help prevent blackouts because they can provide power at a moment’s notice. These fossil-fuelled facilities, which are often decades old, emit more pollution and produce more electricity when they're running. The analysis of the filings at the largest power grid in the country shows that 60% of them are for renewable energy sources. PJM has postponed, or even cancelled, plans to retire oil and gas power plants. The majority of plants that avoided shutdowns were peaker units. The Fisk Peakers were built at the site of an old coal-fired power station which operated for more than a century. The coal plant closed in more than a ten-year period after years of opposition from local residents. However, eight peaking units powered by petroleum oil still operate at the site. "We were very disappointed when we learned that the coal station was closing, but still producing power at the site," said Jerry Mead Lucero, a lifelong advocate of the closure of Fisk coal, who lived most of his adult years in Pilsen. Pollution dropped after the coal plant closed, but didn't disappear. According to the Environmental Protection Agency (EPA), sulfur dioxide levels at the site ranged between 2 and 25 tons of sulfur dioxide per year, when the peaker plant, which had eight units, occasionally fired up to feed the grid. "That is not a small amount, considering the chimneys and houses nearby," said Brian Urbaszewski. He's Director of Environmental Health Programs for Respiratory Health Association in Illinois, a nonprofit organization that helps people with respiratory diseases. DIRTY POWER According to research by the federal and academic authorities, peakers are often not equipped with pollution controls such as mercury scrubbers that remove toxic chemicals from power plant emissions and filters for particulates. Environmentalists say that some chimneys or smokestacks are lower, which means pollution is more localized. The U.S. administration of Donald Trump may be more aggressive in extending the life of peakers. It has said that it is exploring all options, including peaker plants, emergency systems and other ways to meet massively increased electricity demand. In an interview with Chris Wright in September, the U.S. Energy secretary said that there are many peaker plants which could be operated more often. He added that air quality regulations had prevented more from being run more frequently. The biggest targets today are the spare capacity in the grid. According to a U.S. Government Accountability Office report, peaker plants produce about 3% of?country's electricity, but they are capable of producing 19%. If we tap into this spare capacity, it could lead to more harmful emissions being released into neighborhoods which are already overburdened by environmental hazards. According to research by the federal government and academics, the majority of the country's peaker plants are located in communities of color with low income. This means that prolonging the life of the plants could cause more pollution to be emitted into the air. In a 2022 study, residents of "redlined" U.S. areas, who were denied financial services like mortgages because they were primarily Black or immigrants, were 53% more inclined to have a peaker built near them since 2000, compared with those in non-redlined communities. The study was led by UCLA Professor of Environmental Health Sciences?Lara Cushing. The Grid is being strained by the power demands The majority of peaker plants in the United States were built in two periods of rapid growth in energy demand: at the beginning of the 20th century, when electrical appliances became commonplace in homes; and then again in the early 2000s as computers and the economy began to grow. After the energy-sucking devices and infrastructure improved, U.S. demand for power decreased and many fossil-fired plants closed. Solar and wind farms began to provide more energy. These only work when the sun shines and the wind blows. The U.S. Congress directed the Government Accountability Office to investigate the use of peaker plant and their impact on American communities. Environmental justice groups urged the U.S. Congress to do so. According to the study, peaker natural gas plants emit 1.6 more sulfur dioxide per unit of electricity generated on a median base compared with non-peaker plants. Fisk is a part of PJM Interconnection - the largest electrical grid in the United States. It spans 13 states, and has the highest concentration of data centres anywhere on the planet. The demand from AI data centres is threatening the grid's reserves and is already driving prices up. The prices paid by PJM power suppliers to run plants during times of high demand jumped more than 800% compared to a summer ago. This made peaker power plants more profitable. Jeff Shields, PJM spokesman, said: "It's clear that the electricity demand in this country is greater than supply –?the market reflects it, and generators respond." "We can't afford to lose our existing generation, while continuing to add new generation in order to meet the needs of the data centers and other heavy loads that power the nation's economy." According to an analysis of the letters sent by power companies to PJM Interconnection, 23 oil, coal and gas power plants were set to retire in PJM territory in 2025. The letters show that since January, U.S. energy companies, grid operators, and the federal governments have postponed or cancelled retirements for 13 of these power plants. The letters showed that 11 of the plants which avoided closure were peakers. The Department of Energy ordered that the 55-year-old "Eddystone", owned by Constellation Energy and located outside of Philadelphia be kept running. PJM requested that the Wagner peaker near Baltimore be kept running while the grid operator coordinated the transmission required for the generator to be removed. Some of the power plants that were retained were originally built to provide power around-the clock, but were later downgraded so they only run in emergencies. Last Line of Defense Fisk's owner NRG Energy believes peakers are vital safeguards for grids that are increasingly needed not only for data centers, but also for electrifying manufacturing and transportation and to avoid blackouts due to winter storms or summer heatwaves. Fisk Peakers are located in Chicago, so the city does not need to import power in an emergency if outside sources of electricity go down. Matt Pistner, NRG Energy, said: "They are the shock absorbers and last line of defense for the system." When they are needed, there's nowhere else to turn. Pistner said that while NRG has power-generating sources ranging from wind and solar to nuclear, oil-fired peaks add an additional layer of security by ensuring fuel can be stored locally. A NRG spokesperson said separately that "during its run time, the power station consistently operates within federal or state environmental regulations - and we are proud to its record". Experts in energy say that there are other options to peakers. Transmission lines that are more reliable could be used to transport electricity from areas of the country where there is an excess of power, to those who have a shortage. Rusco, from the GAO, said that "if we did that, the system could run more efficiently. You would also probably reduce the amount of dependence on peakers." Clean energy advocates believe that batteries, which are being improved to store power longer, can also replace peaker units. As AI power demand increases, communities such as Pilsen that have been successful in closing some sources of pollution over the past few years may find it more difficult to combat peaker plants. John Quigley of the University of Pennsylvania Kleinman Center for Energy Policy said: "It will result in significant cost increases for consumers of electricity and local pollution, and prevent the connection of new clean energy production to the grid." PJM has said that it will continue to connect renewable energy, nuclear power and gas-fired electricity to the grid, regardless of how long peakers remain on. Shields stated that "we need to get every megawatt we can right now." He added that deactivating existing plants "ignores the reality." Northern Illinois has a growing data center market. At least one data centre is already operational in Pilsen, and there are multiple energy-intensive projects being planned for the surrounding areas. T5 Data Centers announced a 20 building campus this year. Mead Lucero is concerned that the Fisk Peaker Units will continue to exacerbate the environmental problems in his hometown. This includes industrial truck traffic emissions, metal scrappers, and a major road cutting through the area. "You combine all these factors and you have a real problem."
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Silver joins the rally for new highs as gold extends its record run
Silver continued to rise, reaching a new record, and gold reached a new high. A weaker dollar, coupled with persistent geopolitical uncertainties, boosted the demand for this safe-haven. As of 1041 GMT the spot gold price rose by 0.8%, to $4,482.70 an ounce. This follows a session high of $4,497.55 per ounce. U.S. Gold?futures, for delivery in February, rose 1% to $454.70. "Expectations of a dovish Fed; markets losing confidence in?greenback; geopolitical pressures; central bank purchases .... The lust for gold among investors is still massive due to the combination?of factors mentioned above," said Carlo Alberto De Casa. The U.S. Dollar extended its losses for a second day, and was on track to record its largest annual decline since?2017. Last week, U.S. President Donald Trump ordered a "blockade", of all sanctioned tankers entering or leaving Venezuela. He also said that he did not rule out war with Venezuela. Markets are pricing in two rate cuts by 2026, as Trump's announcement of a new Federal Reserve Chair?early next season reinforces expectations for dovish policy. Bullion prices have risen by more than 70% in the past year, as investors sought refuge from global tensions. Silver spot rose 0.9%, to $69.61 an ounce. It had previously reached a record high at $69.98. White metal prices have risen by 141% in the past year due to a combination of supply shortages, industrial demand and investment inflows. Both gold and silver are continuing to attract strong buying. This behavior suggests that $4.500 and $70 is?being treated as a reference point within ongoing trends and less as a hard ceiling. Both metals are therefore firmly supported?now and during the holidays," Ahmad Assiri said, referring to Pepperstone's research strategist Ahmad Assiri. The spot platinum price rose 3%, to $2,183.63. This is the highest it has been in 17 years. Palladium also rose 3.2%, to $1,815.76, a new three-year record, tracking gold and silver. (Reporting from Pablo Sinha in Bengaluru and Arunima Kumar; editing by Subhranshu Sahu).
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Copper nears record high on weaker Dollar and Supply Outlook
The copper price rose on Tuesday. It was near the'record highs' that were reached in the previous session. A?weaker? dollar and concerns about tighter supplies fueled speculative purchases. By 0957 GMT, the benchmark three-month copper price on London Metal Exchange had risen 0.4% to $11,971 per metric tonne. On Monday, it reached a new record high of $11,996. Copper is on track to achieve its biggest annual gain in 2009 after disruptions to mine supply and the outflow of stocks into the United States. Bets on the fact that copper demand will be boosted by the green energy shift. There is no shortage from the perspective of global supply. According to the International Copper Study Group, the market was in surplus for the first 10 months of this year. Copper has been flooding the United States. The prospect that President Donald Trump will impose an import tariff on copper refined from 2027 is a major factor in the tightening of availability for traditional consumers. Exports of copper refined from China, the world's largest metal consumer, soared in November to reach their second highest monthly level ever. More than a third were bound for the United States. Goldman Sachs predicts that the copper price will average $11,400 in 2026, with tariff uncertainty still lingering. According to the bank's base-case scenario, prices will begin to fall in the second half of 2026 and the early part of 2027 as the U.S. begins to reduce its stockpiles. Nickel, among other LME metals rose 1.7% to $15530 per ton, after reaching its highest level since October 9, on bets Indonesia would reduce its mine production in 2026. Aluminium rose by 0.5%, to $2,957 per ton. Zinc gained 0.9%, to $3,112,50. Lead was up 0.9%, at $1,988, and tin increased 0.7%, to $43,400. (Reporting and editing by David Goodman.)
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What drives the gold market and how investors buy it?
Gold prices hovered just below $4,500 an ounce on Tuesday. This was due to expectations of a looser U.S.monetary policy, and the lingering geopolitical conflicts that have driven gold prices up to record highs. Bullion, the classic safe haven in times of economic and/or political uncertainty, reached a new record high earlier this session, reaching $4,497.55. Yellow metal prices have risen more than 70% this year. This is the biggest annual increase since 1979. The rise has been driven by a combination of safe-haven demands, bets made on U.S. interest rate 'cuts,'?robust Central-Bank buying, dedollarisation trends, and ETF purchases. What are the different ways you can invest in gold? SPOT MARKET Big banks are usually the gold buyers for large investors and large buyers. The spot market is determined by the real-time dynamics of supply and demand. London has the largest influence on the spot gold markets, thanks to the London Bullion Market Association. The association establishes standards for gold trading, provides a framework for over-the counter trade, and facilitates transactions between banks, dealers and institutions. China, India, Middle East, and the United States, are also major gold trading centres. Futures Market Futures exchanges are another way for investors to get exposed to gold. They allow them buy or sell commodities at a set price, on a specific date in the future. COMEX, part of the New York Mercantile Exchange (NYMEX), is the world's largest gold futures exchange in terms of volume of trading. Shanghai Futures Exchange is China's largest commodities exchange and offers gold futures contracts. Tokyo Commodity Exchange (TOCOM) is another major player on the Asian gold market. EXCHANGE TRADED PRODUCTS Exchange-traded product or exchange-traded fund issue securities that are backed by actual metal, allowing people to get exposure to gold without having to take delivery of it themselves. The exchange-traded fund market has become the largest category of investment for precious metals. According to data from the World Gold Council, inflows into gold-backed exchange-traded fund totaled $64 billion year-to-date by October. A record $17.3 billion was added just in September. BARRES AND COINS Metals traders can sell bars and coins to retail consumers in shops or online. Both gold bars and coins can be used to invest in physical gold. DRIVERS: Investor Interest and Market Sentiment The price of bullion has been affected by the rising interest in investment funds over recent years. Speculative gold buying and selling can be fueled by the sentiment generated by news, market trends, or global events. FOREIGN CHANGE RATE Gold is an excellent hedge against the volatility of currency markets. Gold has historically moved opposite to the U.S. Dollar, as a weakening dollar makes gold priced in dollars cheaper for holders other currencies. MONETARY POLICY & POLITICAL TENSE Precious metals are widely regarded as a safe haven in times of uncertainty. Donald Trump's tariffs on Chinese goods and the imposition of extra duties have ignited a global war of trade, shaking currency markets and causing fears of an increase in U.S. prices. Trade war that has rattled financial markets and raised recession fears is intensifying. Trump has increased tariffs for Chinese imports from 84% to 145% while China has increased tariffs for U.S. products from 125% to 84%. Gold's trajectory is also affected by the policy decisions made by global central banks. Gold's opportunity cost is reduced by lower interest rates, since it does not pay interest. CENTRAL BANK GLOBAL GOLD RESERVES Gold is held by central banks as reserves. The demand for central bank reserves has been strong in recent years due to macroeconomic and political uncertainties. The World Gold Council's annual survey, conducted in June, revealed that more central banks intend to increase their gold reserves in the next year, despite the high price of the metal. The World Gold Council reported in late October that global gold demand increased 3% on an annual basis to 1,313 tons in the third quarterly of 2025. This was the highest quarter-total ever recorded, due to a surge in investment demand. China continued to add gold to its precious metal reserves, increasing its holdings from 74.09 millions fine troy-ounces at the close of October to 74.12 at the end November, continuing its buying spree.
New Zealand, Cambodia cite political dangers due to high energy shift expenses
Political dangers due to possible loss of public support over increasing power tariffs are a. significant obstacle to transitioning to cleaner electrical energy. sources, ministers from New Zealand and Cambodia told an energy. industry event on Monday.
It's incredibly essential to take the general public with you,. considered that end of the day, they need to think that what you're. doing is improving their lives, Shane Jones, Partner Minister. for Energy, New Zealand, stated at the Singapore International. Energy Week conference (SIEW).
Jones stated New Zealand's power tariffs are comparable to. Singapore's, ranking amongst the highest in the Asia-Pacific. area.
If the public feel that they can't see the benefit of the. medium- to long-term climate-positive outcomes, and they're. suffering disproportionately on the journey, it causes. political chaos, Jones stated.
Cambodia's energy minister, Keo Rottanak, stated the. shift in Southeast Asia towards net no would be costly. and take a very long time.
If we don't bring costs down, we may lose the public. assistance, and for that reason it will just make the entire thing go. away, he said.
At the same event, Amin Nasser, CEO of Saudi Aramco, the. world's biggest oil producing company, pointed out restrictions of. present transition plans.
In a transition that requires incredible quantities of. front-end capital expense, the expense of capital is more than. twice as high in establishing nations where the need is. greater, he said.
Let us be clear: all sources of energy will be needed for. years to come. Coordinators must also abandon the belief that a. single strategy can fulfill the needs of more than 200 countries, he. said.
The shift would be expensive for everybody, he stated.
Nasser said existing plans have not even been able to reduce. demand for carbon-intensive coal.
Attempting to require an unworkable, unaffordable transition strategy. on them will just threaten their economic progress and even. social cohesion, he said, referring to the worldwide South.
(source: Reuters)