Best in Energy – 7 December 2022

G7/Russia oil price cap evolution

China relaxes epidemic controls

India to purchase more gas for power generation

North Carolina’s 3rd day of blackouts after sabotage

Russia/China gas pipeline enters service (trans.)

Russian oil tanker spoofs position signal ($FT)

Russian oil tanker spoofs AIS maritime signals

London’s last great killer smog this week in 1952

BRENT calendar spreads slipped into contango yesterday through May 2023. The combined six-month spread moved into contango for the first time (outside the month-end expiry process when prices and spreads are unrepresentative) for the first time since November 2020, before the first successful coronavirus vaccines were announced:

LONDON is experiencing a period of unusually low temperatures this week, exactly 70 years after similar conditions between December 5 and December 9, 1952, caused the “Great Smog” resulting in 4,000 excess deaths. As temperatures dropped to freezing, domestic and commercial coal combustion surged, sending thousands of tonnes of particulates into the air over the city. A temperature inversion trapped smoke in low-lying areas along the Thames, between the hills surrounding the metropolitan area. For four days and nights, the metropolitan area was blanketed with a suffocating mixture of fog and smoke. The map below shows areas with the worst pollution, which were also the areas with the highest excess mortality:

Published by

John Kemp

Energy analyst, public policy specialist, amateur historian