At some point in their lives, most people learn some version, no matter how rudimentary, of the supply and demand curve. At some later point in their lives, nearly all of those people conclude none of that applies to oil markets, which are, they claim, manipulated by politicians, or a cartel of Western oil companies, or OPEC, the Organization of the Petroleum Exporting Countries, with 13 members mostly from the Middle East and Africa. But that is a mistake, Clark Williams-Derry, an energy analyst for the Institute for Energy Economics and Financial Analysis, told Motherboard. He said oil markets are

Europe wants to cut imports of gas from Russia by two-thirds within a year. Behind the scenes, politicians and companies are already scrambling to work out how to cope next winter. The obvious upshot, one might expect, would be a change in consumer behaviour not seen since the 1970s, when dizzying oil prices caused a rethink of how the West lived. Not so. While European leaders exude an air of war-time concern, the public is living as if nothing were amiss in a continent at peace. The Economist

Paul Callister and Robert McLachlan The 1.5C target allows no room for fossil fuelled commercial aviation by 2050. So the public, the aviation and tourism industries, and the government must turn their attention to first capping and then reducing emissions. The Guardian

A group representing investors that collectively manage more than US$47tn in assets has demanded the world’s biggest corporate polluters back strategies to reach net-zero emissions and promised to hold them to public account. The Guardian

Last summer, oil and gas-industry groups were lobbying to overturn federal rules on leaks of natural gas, a major contributor to climate change. Their message: The companies had emissions under control. In private, the lobbyists were saying something very different. New York Times

What caught the attention of analysts and, apparently, investors, was the ambitious plan that Bernard Looney, the chief executive, set out for making over the London-based oil giant into a diversified purveyor of cleaner energy within a decade. On a webcast with analysts Mr. Looney described a transformation plan that Stuart Joyner, an analyst at the market research firm Redburn, said in a note to clients was “major, positive, thoughtful and largely unexpected.” New York Times

To grasp the scale of transformation to many communities, The Upshot worked with Tim Wallace and Krishna Karra from Descartes Labs, a geospatial analytics company, using a tool that has itself evolved significantly over this time: satellite imagery. With its growing power and precision, we can see both intimate details — a single home, bulldozed; a tennis court, reinvented — and big patterns that recur across the country. New York Times