A new report, published by United Nations Environment Programme (UNEP) and partners, underscores how additions of new renewable power capacity — especially solar — greatly outpaced other sources in 2017. Additions of solar generating capacity alone, led by China which accounted for more than half the increase, outstripped net new fossil fuel capacity, according to the report.
The bottom line: The report underscores both the progress toward a lower-carbon global power mix and the immense challenge of corralling carbon emissions, which grew last year after a 3-year plateau. Nils Stieglitz, president of Frankfurt School of Finance & Management, wrote in an accompanying statement: “This shows where we are heading, although the fact that renewables altogether are still far from providing the majority of electricity means that we still have a long way to go."
Here's a question hanging over oil markets: Should traders be paying more attention to geopolitical risk? A few recent analyses on the topic, spurred by escalating conflict between Saudi Arabia and Yemen's Houthi rebels (and by extension Iran), caught my eye...
The warning: "With MBS soon heading home from his US tour, the gloves may be set to come off and we believe the market should brace for further escalation," RBC Capital Markets analyst Helima Croft wrote in a note yesterday, referring to Saudi Crown Prince Mohammed bin Salman.
