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World Economy Mar 30, 2026

UK Net‑Zero Push Threatens Industrial Competitiveness and Energy‑Poor Households, Warns Investor Paul Marshall

Investor Paul Marshall argues that the UK's aggressive net‑zero agenda is inflating electricity pri…
The recent open letter from 60 clergy members, addressed to the author, underscores a shared concern for planetary stewardship and acknowledges that human‑generated carbon emissions are warming the climate. However, the signatories and the author diverge sharply on the appropriate policy response. Marshall contends that an outright ban on fossil fuels is both impractical and ideologically driven, creating a collective‑action dilemma for the UK. He notes that while the nation pursues a rapid net‑zero transition, major emitters such as India and China operate on markedly different timelines, and the United States has withdrawn from the Intergovernmental Panel on Climate Change (IPCC). This leaves Britain navigating a path of unilateral economic disarmament. Industrial electricity rates in the UK have surged to two‑and‑a‑half to three times those in China and four times those in the United States. Such cost differentials are eroding the global competitiveness of sectors ranging from steel and oil refining to chemicals, automotive manufacturing, and emerging AI industries. The result, according to Marshall, is a wave of factory closures, investment pull‑backs, and significant job losses across the nation's industrial heartlands. Beyond macro‑economic concerns, the policy’s social toll is stark. Older and low‑income households are bearing the brunt of soaring energy bills, with an estimated 2,500 excess deaths last year attributed to an inability to adequately heat homes. This humanitarian impact, Marshall argues, contradicts the very notion of “human flourishing” that climate advocates champion. While acknowledging that every policy entails trade‑offs, Marshall warns that the clergy’s proposal would impose severe personal costs on working‑class Britons without delivering the promised climate benefits. He concludes that the current net‑zero trajectory is unlikely to curb global warming and instead jeopardizes the UK's economic vitality and social wellbeing. Paul MarshallChair, Marshall Wace; personal investor in GB News
#our #people #net
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Technology Mar 30, 2026

Submersible Hydropower Rises in the Great Lakes as Trump Slashes Solar and Wind Subsidies

With the Trump administration withdrawing federal support for solar and wind, submersible hydropowe…
Submersible hydroelectric systems are emerging as a pivotal component of North America’s clean‑energy strategy, especially as the Trump administration eliminates key subsidies for solar and wind. The technology, already proven in Alaska and Maine, is now being deployed in the densely populated Great Lakes corridor, where electricity demand and prices are climbing sharply. Last month, Ocean Renewable Power Company (ORPC) announced its first urban installation on the St Lawrence River in Montreal, slated to launch two carbon‑fiber turbine units later this year. ORPC’s CEO Stuart Davies highlighted the river’s “consistent, high‑velocity water” and estimated a 60‑90 MW resource potential for the Montreal area alone. In parallel, ORPC is preparing a second project on the Niagara River near Buffalo, New York, and plans a future deployment on the lower Mississippi River between Baton Rouge and New Orleans. The timing coincides with record electricity price spikes across the Great Lakes. New York’s public service commission approved substantial rate hikes in September, and further increases are scheduled for 2027, while Michigan and Ohio face similar pressures driven by data‑center expansion. These economic pressures are driving interest in marine‑based power. Unlike traditional hydropower, ORPC’s devices resemble “push‑lawn‑mower blades” and can generate between 0.5 MW and 5 MW continuously, offering a potential baseload for industrial users and a reliable backup during grid outages. Environmental considerations remain central. While Quebec benefits from long‑standing, low‑cost hydropower, U.S. projects endure an average eight‑year licensing timeline. Critics worry about impacts on fish and wildlife, though ORPC cites its Alaska deployment—operating since 2019 without recorded fish injuries despite massive salmon migrations—as evidence of minimal ecological risk. Researchers are also expanding the technology’s reach to slower‑moving waters. University of Michigan professor Michael Bernitsas demonstrated the Vivace system on the St Clair River, capable of harvesting energy from currents as low as 0.5 m/s, suggesting broader applicability across the Great Lakes watershed. Operating in fresh water offers a distinct advantage: the absence of salt eliminates corrosion, extending turbine lifespan and reducing costs compared with ocean‑based projects. Some European tidal installations have even anchored devices to riverbeds to avoid ice damage, a practice ORPC may adopt. Financially, the sector benefits from a 40‑50 % investment tax credit that remains intact, even as the Trump administration phases out Biden‑era subsidies for solar and wind. The National Hydropower Association confirms that marine‑energy tax incentives will stay in place through at least 2033, reshaping the competitive landscape and attracting inquiries from entities in over 70 countries. As electricity bills rise and policy shifts favor alternative renewables, submersible hydropower could become a cornerstone of the Great Lakes’ energy mix, delivering resilient, low‑carbon power while navigating regulatory and environmental hurdles.
#lakes #energy #river
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Economy Mar 30, 2026

China's Teapot Refineries Strained by Surging Crude Prices Amid Global Energy Crisis

China's 'teapot' oil refineries in Shandong province are struggling due to surging crude prices ami…
China's economy is heavily reliant on oil refining, particularly in Shandong province, where independent 'teapot' refineries play a crucial role. These small refineries, often operating on thin margins, have been vital in keeping China's economy stable amidst the global energy crisis. The crisis began with US-Israel strikes on Iran, causing chaos in the Middle East and prompting Tehran to effectively close the Strait of Hormuz, a vital waterway for oil and gas flows. However, Iranian oil has continued to flow to China, with imports reaching about 1.6 million barrels per day. China's teapot refineries are now facing significant challenges due to rising crude prices. Iranian light crude, which was previously $11 cheaper than Brent crude, now has a discount as low as $2 per barrel. This has reduced the refineries' profits, with some workers fearing salary cuts. The impact is being felt across the industry, with Luqing Petrochemical, one of Shandong's prominent teapots, allegedly sanctioned by the US for buying Iranian oil. The company has started pressuring employees to quit by cutting salaries and relocating them to difficult work sites. The economic shock is also affecting ordinary people in China, with the government intervening in the retail fuel market to reduce a planned increase in petrol and diesel prices. However, if prices continue to rise, some teapot refineries may go bust. The long-term threat to the industry is not just the war but also the rise of electric vehicles, according to Uncle Wang, a petrol station owner in Weifang. As China transitions to cleaner energy sources, the demand for oil is expected to decline, posing a significant challenge to the teapot refineries and the thousands of people they employ.
#China #Shandong #Iranian crude
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Health Mar 30, 2026

Playrise: Modular Play Equipment for Children in Disaster Zones

Playrise is a charity that designs and provides flatpack play equipment for children in disaster re…
Photographer Alexander Meininger was inspired to create Playrise after seeing the destruction caused by the Ukraine war. He realized that children in disaster zones needed play equipment to help them cope with their situations. Meininger teamed up with UK architect firm OMMX and engineers Webb Yates to develop a prototype of modular play equipment. The Playrise prototype consists of iroko hardwood beams and planks fixed with metal bolts, which can be customized with add-ons like ropes, monkey bars, and basketball hoops. This system allows for easy reconfiguration to meet the needs of different locations and users. Research has shown that play is vital for child development, fostering motor skills, cooperation, teamwork, and social skills like sharing and communication. However, with close to 50 million children living in forced displacement globally, access to such opportunities is limited. The first Playrise set is set to be deployed to the Aysaita refugee camp in Ethiopia, where some children have lived their entire lives in the desert encampment. The equipment is designed to be easily assembled by the children themselves, providing them with hands-on experience with building and construction. Meininger's goal with Playrise is to scale the project and ensure that the play sets are available when needed by NGOs and young people. He emphasizes the importance of not imposing a Western perspective on what children should do but rather understanding that all children want to thrive and play, regardless of their circumstances.
#Playrise #flatpack modular play equipment #UNICEF
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Sports Mar 30, 2026

Interpol Issues Arrest Warrant for Congo Football Federation President Amid $1.1m Embezzlement Scandal

Authorities in Congo-Brazzaville have applied for an Interpol arrest warrant against Jean-Guy Blais…
Congo-Brazzaville authorities have taken a significant step in their pursuit of Jean-Guy Blaise Mayolas, the embattled president of the country's football federation, Fecofoot. An Interpol arrest warrant has been requested following his conviction for embezzling $1.1m in funds provided by FIFA.Mayolas, along with his wife and son, was sentenced to life imprisonment earlier this month for their roles in the embezzlement. The funds, part of FIFA's COVID-19 relief plan in February 2021, were intended to support the country's football community. However, the trio fled the country weeks before the hearing, with investigators suspecting they may be hiding in Cameroon or the Democratic Republic of the Congo.The embezzlement scandal involves $500,000 earmarked for the Congo women's team. According to allegations, only $20,000 of the allocated funds was actually paid out. Mayolas has denied all allegations, calling them a conspiracy. This is not the first time Mayolas has faced scrutiny; in 2015, he and other officials received six-month bans from FIFA for ethics violations related to gifts and benefits.The situation has led to significant repercussions for Congo's football community. The country was banned from international football due to third-party interference, resulting in the forfeiture of World Cup qualifiers against Tanzania and Zambia. While Congo has since been reinstated, the scandal continues to cast a shadow over the sport in the region.
#interpol #fifa #embezzlement
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Politics Mar 30, 2026

Spain Tightens Restrictions on US Military Use of Airspace Amid Iran Conflict

Spain has closed its airspace to US military aircraft involved in operations related to the conflic…
Spain has taken a firm stance against the US-Israel war on Iran by closing its airspace to US military aircraft involved in attacks. This decision, confirmed by Defence Minister Margarita Robles, underscores Spain's position as a leading critic of the conflict in Europe. The move forces military planes, including those based in the UK and other European countries, to bypass Spain when heading to targets in the Middle East, except in emergency situations. This development comes after Spain denied the US permission to use its military bases for operations related to the war. “We don’t authorise either the use of military bases or the use of airspace for actions related to the war in Iran,” Robles stated, emphasising Spain's clear stance. She described the war as “profoundly illegal and profoundly unjust.” Spanish Prime Minister Pedro Sánchez has been vocal in his opposition to the war, calling for the US, Israel, and Iran to cease hostilities. His statements have previously drawn criticism from former US President Donald Trump, who threatened to cut off trade with Spain. The decision to restrict airspace access could potentially worsen Spain's already strained relations with the White House. However, Economy Minister Carlos Cuerpo reiterated that Spain's stance is part of its broader refusal to participate in or contribute to a war initiated unilaterally and against international law. While US military aircraft can still use Spanish bases for logistics support under a bilateral agreement, 15 American KC-135 refuelling planes were recently diverted from bases in Spain to those in France and Germany.
#Spain #United States #Iran
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Film Mar 30, 2026

Rob Schneider Urges US to Reinstate Military Draft for Young Citizens

Actor Rob Schneider has called for the US to restore the military draft for young people, citing th…
Actor and comedian Rob Schneider has urged the US to reinstate the military draft for young citizens, amid the ongoing conflict with Iran. In a post on X, Schneider suggested that all American citizens should serve two years of military service at the age of 18.He argued that this would promote unity and a sense of responsibility among young people, regardless of their background. "Being a citizen of the United States gives us unparalleled Freedoms and opportunities that are the envy of the world. However, these Freedoms that we cherish do not come without a cost," he wrote.Schneider, who has not served in the military himself, believes that compulsory military service would provide young Americans with valuable skills and discipline. "Unlike in today’s universities," he said, "the military would teach them how truly great their country is."The US ended its most recent draft in 1972, during the Vietnam War. Currently, male citizens between 18 and 25 are required to register with the Selective Service system. 79 countries, including Russia, Brazil, and South Korea, have some form of conscription in place.Schneider’s comments come as the US conflict with Iran continues. The White House has stated that reinstating the draft is not part of the current plan, but President Trump is keeping his options open.
#military #schneider #draft
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Us News Mar 30, 2026

Trump Threatens to Destroy Iran's Energy Grid if Peace Deal Not Reached

Donald Trump has threatened to destroy Iran's power stations and fresh water plants if Tehran does …
Donald Trump has issued a stark warning to Iran, threatening to "obliterate" its power stations and fresh water plants if a peace deal is not reached soon. This comes as the US and Israel's joint war against Iran enters its second month, with Tehran remaining defiant in the face of US peace proposals.The conflict has already had significant repercussions, including a record monthly rise in oil prices and concerns over a potential US ground operation to seize Kharg Island. Trump's threat to destroy civilian infrastructure, such as power and water facilities, has been condemned by human rights groups as a potential war crime.The White House has also suggested that Arab countries may be asked to help foot the bill for the war, adding a new dimension to the conflict. "It's an idea that I know that he has," said White House press secretary Karoline Leavitt.International pressure is mounting, with Spain closing its airspace to US planes involved in the conflict and the UK's prime minister reiterating that "this is not our war and we are not going to get dragged into it". Egypt's president, Abdel Fattah al-Sisi, has called on Trump to end the war, warning that "no one will be able to stop the war in our region".The conflict threatens to plunge the global economy into recession and trigger shortages of food and pharmaceuticals. The International Monetary Fund has warned that "all roads lead to higher prices and slower growth worldwide" if the conflict continues.
#war #trump #iran
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World Economy Mar 30, 2026

UK Government Poised to Fully Nationalize British Steel Within Weeks

The UK government is on track to fully nationalize British Steel within weeks, a year after taking …
The UK government is poised to fully nationalize British Steel within weeks, a significant move that would mark a major shift in the country's steel industry. British Steel, which employs 3,500 people at its Scunthorpe plant, has been under government control since last April, when the Chinese owner, Jingye, threatened to shut down the site. The steelmaker operates the last two remaining blast furnaces in the UK, crucial for producing steel from scratch. The government's decision to nationalize the company is driven by the need to maintain domestic steel production, which is considered vital for national security and economic growth. Ministers had offered Jingye £100m for British Steel earlier this month, but the offer was rejected. The Chinese company had initially demanded over £1bn. The government may now set Jingye a deadline to reach a deal or proceed with nationalization. The cost of keeping British Steel running has ballooned to £377m by the end of January, with projections suggesting it could exceed £1.5bn by 2028 if current trends continue. The National Audit Office has highlighted the need for a swift resolution to the ownership issue. Gareth Stace, director general of UK Steel, has expressed support for nationalization, stating it would provide vital certainty for the workforce, customers, and supply chain. The sector has seen significant interest from potential buyers, including Miami-based investor Michael Flacks. The UK government's move to protect the steel industry comes as part of broader efforts to counter cheap Chinese imports. Earlier in March, ministers announced plans to double tariffs on imported steel and reduce the amount of steel that can be bought from abroad.
#steel #british #jingye
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