Make no mistake: North Korea leader Kim Jong Un truly believes he needs nuclear weapons.
For years, that need reflected a single objective: the protection and maintenance of his regime. A nuclear arsenal was a defensive tool—a deterrent—to ensure that no foreign power would attack his country and end the Cold War division of the Korean Peninsula. Kim’s rationale for possessing nuclear weapons seems to be shifting and his rhetoric and accompanying military developments indicate a new focus—the acquisition of a war-fighting capability.
Prices expected to continue to be high, but LNG may be pricing itself out of global markets
May 20, 2022 (IEEFA)—The fallout from the Russian invasion of Ukraine has disrupted the world’s liquefied natural gas (LNG) market, driving prices to record levels while likely positioning the industry for a significant downturn as emerging Asian markets are priced out of the market, according to a panel of IEEFA experts.
IEEFA’s analysts find that the disruption in the LNG markets has been truly global. Russia, which faces a series of international sanctions, is the world’s second-largest natural gas producer, its third-largest oil producer, and its sixth-largest coal producer. In addition, Russia provides Europe with more than one-third of its gas supply.
The UN secretary-general, António Guterres, has issued a stark warning concerning the “dismal litany of humanity’s failure to tackle climate disruption” in a speech in which he set out “five critical actions to jumpstart the renewable energy transition”.
Speaking at the launch of the World Meteorological Organisation’s State of the Global Climate 2021 Report, Guterres described the global energy system as “broken” and “bringing us ever closer to climate catastrophe”. He called on the world to “end fossil fuel pollution and accelerate the renewable energy transition, before we incinerate our only home”.