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Topics tagged with 'Energy'

More in: Energy
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Transport ... 80% higher emissions by 2030 and about to be included in next global deal

Transport sector advised to help shape next world emissions deal

3 Jun 2008

Leipzig.-Speaking at the International Transport Forum in Leipzig, Germany UNFCCC Executive Secretary Yvo de Boer called on key stakeholders in the transport sector to help shape the UN climate change deal that will be clinched in Copenhagen at the end of 2009.

FORUM: Dog and Lemon man says electric car owners exposed to power shortage issues

3 Jun 2008

Clive Matthew-Wilson, founder of the Dog and Lemon Guide, responds to a Carbon News story saying he is inventing a long term power shortage in order to justify an argument casting doubt on a future for electric vehicles..

Holcim cement ... may need to explain away EU study saying ETS fears "exaggerated"

EU experience shows cement industry's ETS worries 'exaggerated'

30 May 2008

Cement firms’ worries about international competitiveness effects and leakage, caused by emissions trading, may be exaggerated, according to a new analysis by carbon market experts.

Mitsubishi's i-car .. electric version available here possibly next year

Electric car sceptic invents long-term power shortage

30 May 2008

The Dog and Lemon Guide man says the viability of electric cars in New Zealand is doubtful because of electricity shortages.

The Ensco 56 rig completes its work off the Taranaki coast, drilling three gas wells

New Zealand's largest gas field completed

30 May 2008

The Pohokura offshore gas field development in Taranaki has been completed.

Open hydro turbine Crest plans to use at Kaipara harbour ... 200 x 1MW turbines planned

Why Parker is enthisiastic about marine energy

30 May 2008

Average wave power can exceed 100 kilowatts per metre of wave crest length, on the southwest-facing coasts of New Zealand.

Kaipara Harbour .. where 200 turbines could go

Govt funding for Kaipara harbour tidal energy devices

30 May 2008

A project to generate electricity from the tides in Kaipara Harbour is to receive a grant of $1.85 million from the Marine Energy Deployment Fund.

Lincoln University .. research still showing New Zealand food highly emission competitive

New Zealand food imports still the greenest option for UK

30 May 2008

By Angela van de Weerdhof. - New Zealand food producers should fare well when the European Union rings in carbon labeling on all imports.

How equity analysts link climate change and company valuation

30 May 2008

Equity analysts divide into three distinct groups based on their climate change perspective, according to a new report from research firm Verdantix.

Letter to the Editor: Wairarapa councils' backdoor windfarm ban irks

30 May 2008

This letter from a Wairarapa lawyer regarding yesterday's Carbon News story revealing a troika of councils trying to ban windfarm development through plan changes.

FORUM: Climate change sceptics call Government scientists "propagandists"

30 May 2008

NIWA scientists have become political propagandists, according to New Zeaand climate change sceptics.

EMA: Urgent power savings required to avert power cuts

30 May 2008

Blackouts in the North Island are very possible, the Employers & Manufacturers Association (Northern) says, and probable in the South Island if huge power savings are not made immediately.

Aorangi mountains, Wairarapa ... 10 metre height plan a backdoor ban on wind energy

Meridian fights local body troika's backdoor bid to ban windfarms

29 May 2008

Meridian Energy Ltd has launched an appeal against what it sees as a crimp on renewable energy zoning by the Masterton, Carterton, and South Wairarapa District Councils.

Brtish Gas wants NZ as green test bench

29 May 2008

Further evidence is emerging that Contact Energy is a prime target in the acquisition by British Gas of Australia’s Origin Energy, parent of Contact.

A way to save money? Just how will petrol prices push down car use, increase public transport demand?

New petrol price impact research under way

29 May 2008

New Government research is under way on the impact of higher petrol prices on vehicle use

Tidal power .. a kinetic "mantis" idea from the US

Recipients of millions in marine energy grants announced today

29 May 2008

Who gets the first Government grants to encourage marine energy development will be announced today.

Contact cranks part of New Plymouth plant back to life

29 May 2008

Contact Energy has announced that it will recommission part of its New Plymouth power station in response to anticipated winter electricity supply worries.

Carbon card ... one more to add to the line-up

True cost of personal carbon card plan revealed

29 May 2008

New reports in the UK say an MPs’ idea to issue every citizen there with a personal carbon card will cost up to NZ$6 billion to set up, and the same amount to run each year.

Comms company looks to install solar panels on customers' roofs

29 May 2008

Cox Communications has announced initiatives to cut energy costs that include adding solar electricity to its headquarters and communications system and increasing fuel efficiency in its fleet vehicles.

31 projects get $950,000 in smart innovation cash

29 May 2008

Government Spokesperson on Energy Efficiency and Conservation, Jeanette Fitzsimons, has announced that 31 projects with a combined value of $950,000 have been offered funding under the second round of a government fund to encourage smart innovations in solar water heating and heat pump water heating technologies.

Brownlee holds Parker to no power price rise promise

29 May 2008

"Householders can breathe a sigh of relief - Energy Minister David Parker is promising that domestic electricity prices will not rise because of the looming winter power crisis," says National Party Energy spokesman Gerry Brownlee.

Jeanette Fitzsimmons ... agricultural emissions must be addressed immediately

EXCLUSIVE: Greens push for early ETS entry for agriculture

28 May 2008

The Green Party is looking to force the Government to bring agriculture into the emissions trading scheme early.

Windflow falls victim to noise issue

28 May 2008

Windflow Technology of Christchurch is the pre-eminent alternate energy production engineer in New Zealand. Yet its power generation wind turbines are being rejected on the environmental grounds that they make too much noise.

Lieberman ... carrot and stick bills now before

New US climate change bill will subsidise low-emission energy

28 May 2008

A newer version of the McCain-Lieberman Climate Change Stewardship Bill has been introduced which, when combined with an ETS bill, will incentivise new low-emission energy projects..

European Parliament .. to now debate tougher airline emissions regime

EU Parliament committee votes overnight for tougher aviation ETS regime

28 May 2008

The European Parliament's Enevironment Committee early this morning (NZ time) voted for a tougher emissions regime for airlines.

Two news wells for Taranaki's Cheal oil field

28 May 2008

Austral Pacific Energy will drill two new wells (A6 and A7) in its onshore Taranaki Cheal oil field in Stratford, New Zealand.

Electricity bosses given their orders: 90% renewables in 17 years

Electricity bosses given new policy orders

28 May 2008

The Government has issued new policy instructions to the Electricity Commission.

Trevor Mallard ... clarity needed around grid planning and protection

Update on proposed national grid regulations

28 May 2008

Two proposed national environmental standards aimed at improving the management and security of the national grid will be reconsidered and reworked.

Parker... stocking with it doesn't win you a lot of friends..

Parker's full speech on climate change effects and impacts assessment

28 May 2008

Here is the full speech of CLimate Change Issues Minister David Parker at the launch of new reports into the impacts of climate change.

Gorbachev: "we all are in the same boat"

10 minutes of Glasnost with Gorbachev

28 May 2008

Mikhail Gorbachev was in the European Parliament yesterday for the Energy Globe Awards where he picked up one for lifetime achievement.

Statesmen and stars feature at EU clean energy awards gala

28 May 2008

A mixture of statesmen, actors and singers joined MEPs and a large audience for the annual Energy Globe Awards in the European Parliament

Australians shift on free emissions

27 May 2008

The New Zealand Government is continuing to rule out free carbon credits to most sectors of the economy, despite a shift in thinking in Australia on the issue.

Will we really see thousands of electric cars plugged in here in just seven years?

Technical and supply tangles tripping up electric car plans

27 May 2008

Technical and supply issues are standing in the way of a Government target to have hundreds of thousands of electric vehicles in use here in the next seven years.

Metro bus in Christchurch ... can cope "over time" with people fleeing higher petrol prices

Public transport won’t cope with major fuel-price driven switch from cars

27 May 2008

If 23% of motorists are true to their word and start making significant cuts in fuel use now petrol has hit $2 per litre, they may not find a seat on public transport.

MAD ... now voluntary offets auctioning on Trade Me for households

No early mad rush for Energy Mad's household emission credits

27 May 2008

The first ever online auction of voluntary carbon credits created by demand side energy efficiency projects in New Zealand is off to a slow start.

Powered up solar house in Bayview USA .. pay back period here too long

Solar hot-water payback too slow

27 May 2008

New Zealanders are resisting switching to solar hot-water heating despite government grants because the payback period is too long -up to 15 years for some households.

Chopping down more trees good for environment

Kiwis embrace the chop-down-trees environmental message

27 May 2008

New Zealanders think using more wood is good for the environment.

Offshore windfarm, Thames estuary .. how many million new green jobs are coming?

Low-carbon economy – millions of new jobs?

27 May 2008

Ethical Corporation- Europe's leaders say a low-carbon economy will create millions of new jobs.

Nuclear power ... 53% in US support more nuclear to fight global warming

Deloitte: most will accept higher power bills to battle global warming

27 May 2008

A majority of Americans say they are willing to pay slightly higher electricity bills to help curb greenhouse gas emissions from power plants, according to a survey released by the consulting firm Deloitte.

MAF: wood supply to jump about 3 million cu m a year

27 May 2008

The Ministry of Agriculture and Forestry (MAF) has released new wood availability forecasts for the Central North Island that indicate a steady increase in supply for the region over the next 12 years.

Home solar heating ... tangled consent process and high costs may still deter homeowners

Red tape consent process may still sink solar hot water incentive system

26 May 2008

By Angela van de Weerdhof .- A bureaucratic resource consent process may still stifle a new bid to have home owners take up grants for solar water heating.

Leadership forum chair Stephen Tindall

Forum heads to the select committee

26 May 2008

A high-powered group of business and community leaders who back an emissions trading scheme will appear before the finance and expenditure select committee today to answer questions from MPs.

Cement .. one of the 11 industries Moodys says is facing special emissions related pressures

MOODY'S REPORT: ETS could affect heavy emitters' cedit ratings

26 May 2008

Ratings agency Moody's says the European Union's ETS actions could profoundly affect the operations of some of the region's most emissions inensive industries.

Hurricane Katrina August 28, 2005 ... climate change event csts may tripple

New report: Global warming could cost US $3.8 trillion a year by 2100

26 May 2008

A new report says doing nothing on global warming will cost the U.S. economy more than 3.6 percent of GDP — or US$3.8 trillion annually (in today’s dollars) — by 2100.

Greenpeace: Good initiatives at risk under polluter subsidy plans

26 May 2008

Greenpeace welcomes today's Green Party announcement that all state houses will be properly insulated within five years but warns initiatives like this could be at risk if big polluters get their way.

Hydro kinetic energy .. one of the new renrewables attracting state support in the US

Continued tax incentives for renewables expected to boost growth 20%

26 May 2008

The US Senate has passed a bil extending tax credits- and authorizing US$2 billion in new bonds to boost renewable energy development.

Bullish carbon prices expected to continue

26 May 2008

Broker IDEAcarbon expects market billishness to continue.

A new RWE lignite-fired power plant .. energy firm heads the EU emissions ratings

Europe's three biggest emitting companies named

26 May 2008

The three biggest emitters in the EU's emissions tradinge scheme have been revealed.

Financiers: Is Kyoto factored into Contact Energy?

23 May 2008

Representatives of several international financial services organisations with operations in New Zealand believe that the value of the climate change regime has not been factored into the value of Contact Energy.

Turnbull .. go for stronger vehicle emissions standards, not ETs on petrol

Australia debates leaving petrol out of ETS

23 May 2008

A major debate is underway in Australia on leaving petrol out of its emissions trading scheme.

Adaptation
More >

Fifty years of observations, no reversal of glacier climate damage

31 Mar 2026

Media release: Earth Sciences New Zealand | Fifty years on from the first aerial survey of our Southern Alps glaciers, late snow and variable summer weather delivered a temporary reprieve from rapid ice loss, says Earth Sciences New Zealand.

Agriculture
More >

Climate experts say spring is coming earlier. How will that affect agriculture and ecosystems?

Today 10:45am

An earlier spring affects when migratory birds arrive, leaves emerge, and fruit ripens — among plants and animals that determine ecosystem health.

Airlines
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$30m airline fund risks ‘burning public money’ without lasting benefit – expert

20 Mar 2026

By Shannon Morris-Williams | A $30 million government package to support regional air routes risks delivering poor value for money while increasing emissions, according to transport strategist Tim Adriaansen.

Aviation
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Signs of jet fuel hoarding emerge in Asia on Iran oil shock

26 Mar 2026

Signs are growing that Asian countries are hoarding jet fuel after the Iran war sent oil prices surging, reflecting growing strain on the aviation industry.

Biodiversity
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New protections for NZ migratory species under UN convention

Thu 2 Apr 2026

By Shannon Morris-Williams | New international protections for migratory species, including several found in New Zealand, are a positive step – but global protections won’t halt the decline of migratory species on their own, experts say.

Biofuels
More >

Air NZ joins Marsden Point SAF project

3 Mar 2026

By Pattrick Smellie | Air New Zealand has quietly added its name to a consortium exploring the viability of green hydrogen production for sustainable aviation fuel at Channel Infrastructure’s Marsden Point energy hub.

Carbon Credits
More >

Supply-side pressures and political uncertainty ahead for carbon market

Today 10:45am

By Kristen Green | ANALYSIS: With failed auctions, a surge of new forestry registrations, and an election a few months away, the NZ ETS in 2026 will be subject to a mix of supply-side pressures and political uncertainty.

Carbon News world
More >

Fast-track approved project could deliver NZ’s largest wind farm

Today 10:45am

Media release: New Zealand Government |Fast-track approval has been granted for New Zealand’s largest wind farm project.

Carbon prices
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Economic contraction will impact carbon market

Wed 1 Apr 2026

By Liz Kivi | While higher fossil fuel prices strengthen the long-run economics of decarbonisation, the current fuel crisis won’t inspire near-term confidence in the carbon market, according to Lizzie Chambers of Carbon Match.

Coal
More >

Asia ramps up use of dirty fuels to cover energy shortfall triggered by Iran war

Thu 2 Apr 2026

South Korea will delay the shutdown of coal-fired plants, while the Philippines also plans to boost the output of its coal-burning plants

Comment
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Death toll in Afghanistan flooding increases to 28, authorities say

Wed 1 Apr 2026

Afghan authorities said Monday that the death toll from severe weather that has struck swathes of the country over the past four days has increased to 28, with 49 people injured. Dozens of people have died from extreme weather in the country so far this year.

Construction
More >

Sustainable retail-office project breaks ground under new Green Star framework

19 Feb 2026

Construction is set to begin on a new retail-office development in central Auckland, which is targeting a 40% reduction in embodied carbon and 25% lower energy.

COP
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Resources Minister Shane Jones and New Zealand First deputy leader Shane Jones

Opposition attacks Govt over fossil fuel phaseout backdown

2 Feb 2026

By Liz Kivi | Revelations that Resources Minister Shane Jones ruled out New Zealand signing up to a 'road map' away from fossil fuels at last year’s global climate summit show the National Party’s minor coalition partners’ undue influence over the Government, according to Labour leader Chris Hipkins.

Emissions trading
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Carbon price: Ups and downs amid geopolitical uncertainty

26 Mar 2026

By Liz Kivi | After ups and downs in recent weeks, the carbon market again broke above the $40 mark this week, with questions around how the Middle East conflict will play out weighing on market confidence.

Extinction
More >
WWF-New Zealand chief executive Kayla Kingdon-Bebb

Environmental groups call for ETS reform

20 Feb 2026

Several environmental organisations are calling on political parties to make climate and biodiversity central to the 2026 election campaign, with reforming the Emissions Trading Scheme seen as a key priority.

Extreme weather
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A matter of strategy

Today 10:45am

COMMENT: Even on the brink of a global commodities crisis, the possibilities for climate action aren't hopelessly foreclosed. Strategy can turn our fortunes around, writes David Hall.

Fishing
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Transport dominates NZ’s rising consumer emissions

10 Dec 2025

By Shannon Morris-Williams | Transport pollution was the biggest contributor to an increase in New Zealand’s consumption-based emissions in 2023, with emissions from household travel up 12%, and consumption-based emissions totalling 58.3 million tonnes – up 1.6% from the previous year.

Forestry
More >

Wellington planting nears one million trees

30 Mar 2026

By Shannon Morris-Williams | Greater Wellington’s parks restoration programme will hit one million native trees this year, with the first dams to rewet peat wetlands in Queen Elizabeth Park now completed after a years-long effort to bring these ecosystems – and their carbon sequestering superpowers – back to life.

Gas
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Glenbrook Steel Mill was a beneficiary of the GIDI fund

Labour mulls GIDI 2.0 as factory closures mount

Wed 1 Apr 2026

By Pattrick Smellie | Factory closures across the country could have been prevented if the last Labour-led government’s GIDI fund to assist companies with the cost of electrification hadn't been scrapped, Labour energy spokesperson, Megan Woods, says.

Geothermal
More >

RMA to speed up fossil fuel consents

18 Aug 2025

By Liz Kivi | An energy lobby group has welcomed a last-minute amendment to the RMA that puts fossil fuels on the same footing as renewables, however a sustainable energy expert says the move “beggars belief.”

Green finance
More >

FMA to ease conditions for green bond issues

31 Mar 2026

By Pattrick Smellie | Green, social and sustainability-linked bonds will face lower disclosure requirements and regulatory costs under a class exemption newly granted by the Financial Markets Authority.

Greenwashing
More >
Greenpeace spokesperson Sinéad Deighton-O’Flynn

Fonterra admits ‘100% grass-fed’ claim breached law in greenwashing row

Thu 2 Apr 2026

By Shannon Morris-Williams | Fonterra has admitted its “100% New Zealand grass-fed” claims on Anchor butter were misleading and breached the law, settling a case brought by Greenpeace Aotearoa over packaging used between December 2023 and April 2025.

Hydro power
More >
Climate Change and Energy Minister Simon Watts

Govt missing opportunity to slash electricity prices, says expert

11 Feb 2026

By Liz Kivi | The Government’s fixation on eliminating the "dry-year risk margin" as a lever to reduce costs misses a much bigger opportunity to lower electricity prices, according to Christina Hood, head of Compass Climate.

Hydrogen
More >
Castlepoint lighthouse, Wairarapa

NZ prepares to join ‘gold rush’ for white hydrogen

25 Mar 2026

By Pattrick Smellie | New Zealand may be close to commercialising the capture and use of naturally occurring ‘white’ hydrogen, with investment plans for developments in the Wairarapa region picking up pace in response to spiralling oil prices.

Insurance
More >

Media round-up

20 Mar 2026

In our round-up of climate coverage in local media: Crown lawyers agree High Court could quash emissions plan if found unlawful; NZ is locked in 'disaster inertia'; and climate change is notably absent from new development laws.

Kyoto
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Waitangi Treaty Grounds

Climate law change spanner in the works for Waitangi Tribunal Inquiry

19 Dec 2025

By Liz Kivi | The Government’s controversial changes to New Zealand’s legal framework for climate policy have thrown a spanner in the works for a long-running Waitangi Tribunal Inquiry into climate change.

Litigation
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Lawyers complain to ombudsman over Govt failure to release LNG modelling

Wed 1 Apr 2026

By Liz Kivi | Lawyers for Climate Action has made a formal complaint to the Ombudsman over the Government’s failure to release information about its controversial decision to build a LNG import terminal.

Low carbon
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Cleantech expo coming to Auckland

26 Mar 2026

New Zealand’s first national cleantech expo is set to bring together 30 innovators, in what organisers say is the country’s fastest growing area in the tech sector.

Mining
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NZ First targets regional share of mining royalties

30 Mar 2026

By Shannon Morris-Williams | New Zealand First has proposed returning 50% of mining royalties to regional communities, saying that too much of the value from resource extraction is currently flowing to Wellington.

NZ ETS
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Tuvalu prioritises climate change in agreement with NZ

27 Mar 2026

By Liz Kivi | New Zealand has pledged an additional $20 million to climate resilience work in Tuvalu, more than doubling Aotearoa's aid to the tiny island nation in the current financial year.

NZ Market Report
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NZ's latest climate target 'weak' – Climate Action Tracker

24 Jun 2025

By Shannon Morris-Williams | New Zealand's new international climate target to 2035 is weak, and could even allow for higher emissions than the 2030 target, according to a global scientific project that tracks government climate action.

Oceans
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Worst in a generation: Environmentalists slam fisheries reform bill

25 Mar 2026

Media release: Greenpeace | The Fisheries Amendment Bill, which will likely have its first reading in parliament this week, is being labelled the worst fisheries policy in a generation by environmental groups who are calling for it to be rejected to protect ocean health.

Planetary boundaries
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Kiwis overly optimistic about state of environment

27 Feb 2026

By Shannon Morris-Williams | New research suggests many New Zealanders believe the environment is in better shape than it really is, with public perceptions often out of step with scientific evidence.

Plastics
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‘They pushed so many lies about recycling’: the fight to stop big oil pumping billions more into plastics

24 Feb 2026

Plastic production has doubled over the last 20 years – and will likely double again. For author Beth Gardiner, metal water bottles and canvas tote bags are not the solution. So what is?

Policy development
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John Carnegie, chief executive of lobby group Energy Resources Aotearoa, led the 'fireside chat' with then- Energy Minister Simon Watts at Downstream.

Watts’s last stand: Simeon Brown takes energy portfolio

Thu 2 Apr 2026

By Pattrick Smellie | Energy Minister Simon Watts has lost the portfolio to Cabinet fixer Simeon Brown in a reshuffle announced by Prime Minister Christopher Luxon this morning.

Protest
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Activists occupy controversial gold drilling site

25 Mar 2026

By Max Frethey, Local Democracy Reporter | Opposition in Golden Bay to a controversial gold mine at Sams Creek has flared up over the weekend after several activists briefly occupied a drilling site.

Rare earth minerals
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China has a new competitor? Kazakhstan reveals huge rare Earth deposit that could power the next tech boom

25 Feb 2026

China’s grip on rare earths might finally see some competition, and the world is already taking notice.

Renewable energy
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Media round-up

Thu 2 Apr 2026

In our round-up of climate coverage in local media: The widening political gap is deepening cracks in NZ's climate consensus, Christchurch recorded more than 30,000 extra cycling trips over two weeks, and is the energy crisis a renewable inflection point?

Science
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Sci-tech prioritisation report is a joke that could cost NZ dearly, says NZ Association of Scientists

Thu 2 Apr 2026

Media release: New Zealand Association of Scientists | The Prioritisation Report released yesterday by the Prime Minister’s Science Innovation and Technology Council makes a poor case for further cuts and changes to our research system.

Tax
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Associate Professor Ru Hong

Carbon trading schemes cut more emissions than carbon taxes, according to global study

20 Mar 2026

By Shannon Morris-Williams | Carbon trading schemes are more effective than carbon taxes at reducing emissions, cutting fossil fuel use, and accelerating the shift to renewable energy, a global study has found.

Technology
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AI’s arrival complicates Big Tech climate goals, and some worry it’s locking in more fossil fuels

Thu 2 Apr 2026

Six years ago, Google was confident that by 2030 it would power all operations with electricity generated from clean sources, including wind and solar power, and remove as much pollution as it produced. Today it calls those goals a “moonshot.” Microsoft says it’s still aiming to remove more carbon than it creates by 2030 but now describes the effort as “a marathon, not a sprint.”

The House
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Pacific climate response in question as NZ finance remains unclear

19 Dec 2025

By Shannon Morris-Williams | With New Zealand's $1.3 billion international climate finance commitment set to end with no clarity on what follows, the Auditor-General says oversight of that funding remains patchy and long-term outcomes are unclear.

Transport
More >

Fuel crisis powers surge in EV interest in Asia-Pacific region

Today 10:45am

Motorists across the Asia-Pacific region are switching to electric vehicles at a rapid pace, as rising fuel costs due to the Middle East war force consumers and companies to reconsider their reliance on petrol and diesel vehicles.

Waste
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Infrastructure plan calls for ‘predictable approach’ to electrifying economy

18 Feb 2026

Aotearoa’s first National Infrastructure Plan, introduced to Parliament yesterday, calls for "a predictable approach to electrifying the economy" as one of ten priorities for the next decade.

Water
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Dairy farmers' lack of climate action 'even bleaker' than water inaction – Upton

Wed 1 Apr 2026

By Shannon Morris-Williams | Government projections for cutting agricultural emissions are being undermined by low farmer uptake, with the Parliamentary Commissioner for the Environment warning the country is relying on “heroic” assumptions to meet its methane targets.

Wildfires
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AI tool predicts wildfire danger faster than current systems

26 Mar 2026

Media release | A wildfire forecasting system powered by artificial intelligence could help detect dangerous fire conditions earlier and reduce the cost of wildfire response, according to new research from Te Whare Wānanga o Waitaha | University of Canterbury.

Wind energy
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Record wind output helps shield the UK from worst of Iran war fallout

Wed 1 Apr 2026

Record output from wind farms has helped boost total clean power supplies in the United Kingdom to new highs so far in 2026, and allowed power firms to pare use of fossil fuels to multi-year lows.

More in: Energy
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