Page 13 - Gi flipbook June/July 2018

Tehran reacted with anger as
IRAN Trump backed out of the deal
Foreign ministers

move to protect

European firms from

US sanctions on Iran

his decision had made the admitted it was self-evident
world less secure. that Trump had not listened
THE EUROPEAN UNION personal reassurances they Tehran had previously to Europe on the Iran deal.
has moved to shore up will take practical steps to complained that the EU had “On this issue he has not
the 2015 Iran nuclear protect the deal, reports gone too far to appease listened, that is absolutely
agreement by promising The Guardian. Trump. But it appears correct. But now we have
to protect European firms “The international reach that after the failure of its got to seek to persuade
doing business with Tehran of US sanctions makes diplomatic charm offensive him and others there
from any US sanctions. the US the economic with Washington, Europe other ways of tackling the
France has also said policeman of the planet, is going to unite to protect challenges he has set out,”
it will do everything and that is not acceptable,” the deal, even if this puts Burt told BBC Radio 4’s
possible to protect said French Finance European capitals on an Today programme.
European businesses Minister Bruno Le Maire. economic collision course “We won’t be seeking
following Donald Trump’s In a concerted bid with America. to make him go back on
announcement that the US to shore up the more In his uncompromising something. He won’t do
would exit the Iran deal, moderate voices in Iran, announcement, Trump that. But there are other
and impose strict economic including Iranian President explicitly warned he would ways forward and it is our
sanctions. Impending US Hassan Rouhani, EU foreign seek to hit European firms job to make sure those
Treasury sanctions have ministers sharply criticised that continued to trade work, and work in a non-
sent EU foreign ministers Trump’s decision to pull with Tehran. confrontational fashion, no
scrambling to meet Iranian out of the Iran nuclear The UK’s Middle East matter how difficult that is
counterparts to offer deal altogether, saying Minister Alistair Burt in a tricky region.” ■

UNITED STATES market share at roughly the
US coal is collapsing faster than ever same speed in the 2020s,” he
said. “A little bit of that is due
to power-demand growth in
and gas is benefitting, say experts some regions but mostly this
boom in gas is coming at the
expense of coal.”
Dan Shreve, of MAKE
MORE COAL PLANTS in the next 10 years. Navigant’s projection Consulting, expects natural
are now projected to “That’s more than twice is more conservative gas to grab much of the
retire more quickly than what we projected last than some: “Our outlook 80-90GW of coal he sees
experts thought a year year,” he told Forbes. includes about 100GW retiring in the next 10 years.
ago, according to energy- The projection changed of coal retirements,” said But, he added, more gas
industry analysts. in part because of more Max Cohen, an IHS Markit makes more wind possible.
Three alternative energy announced retirements, analyst. “That’s about a He said: “We do expect to
sources—wind, solar and Hamilton said, “but third of the fleet.” see a substantial amount of
natural gas—are expected more importantly, the Cohen believes natural gas placed onto the
to divide up the spoils, said fundamentals of the multiple fuels can benefit grid over the next 10 years.
experts at the American economics of coal have simultaneously from the coal This is not a bad thing. This
Wind Energy Association’s gotten worse, with costs retirements as long as they is a good thing. A lot of it
Windpower 2018 conference. going up, while the remain competitive with gas. has to do with the fact that
“The real story is in coal competition for coal—that “Concurrent with the combined cycle gas turbines
retirements,” said Bruce is, gas, wind and solar—has boom in coming years of have the flexibility not only
Hamilton, a director in the all gotten cheaper. So it’s wind and solar, there’s to serve as base-load but
energy practice at Navigant, getting to the point where also a boom in natural gas also to take over during
which has modelled every huge swings are forecast. generation. And all three of those peak times [when
coal plant in the US and You can see it will be those technologies—wind, renewables may fall short
projected 73GW will retire throughout the decade.” solar and gas—are gaining of demand]”. ■

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News.indd 8 17/05/2018 13:50