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Letter from China: Anger erupts at Covid policy
The revolt against zero-Covid is significant but is unlikely to sway Beijing this winter
Letter from Canada: Federal government attempts emissions strategy
Federal carbon pricing options may allow the central government to outflank provincial opposition
Letter from Beijing: Refiners hoping for summer rebound
Easing of Covid restrictions looks set to lead to surge in domestic travel
Letter from Australia: Labor victory positive for CCS
Australia’s upstream industry could be poised to benefit from the election of a Labor government for the first time in almost a decade
Chinese refiners face carbon trading risk
Beijing’s net-zero commitment means the refining and petrochemicals sector is likely to be included in the country’s ETS scheme sooner rather than later
Letter from Beijing: Covid relapse threatens demand
China’s rebounding appetite for energy is being undermined by fresh lockdowns and quarantine measures
Tide turns for middle distillates
Strong prices for middle distillates might persist due to a range of supply and demand factors
Letter from Houston: Omicron moves the dial
Covid-19 variant sends oil price tumbling as SPR release makes little impact
Letter from China: Covid resurgence compounds economic concerns
China’s economy faces headwinds that go beyond than the arrival of the Delta variant
Outlook positive for India despite Covid woes
The county’s crude demand may remain constrained this year, but the future is still bright
Carbon permits Covid-19 ETS
Alessandro Vitelli
28 May 2020
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CO2 shrugs off the Covid-19 slump

Future policy assumptions support the EU ETS after initial hit

European energy markets have been thrown into turmoil by the coronavirus pandemic, with prices for some commodities falling by more than 50pc as demand has plummeted during the enforced lockdown. A combination of housebound workers and a slowdown in commercial and industrial activity has also tipped countries into recession, blighting the economic outlook for the coming months and even years. But European carbon allowance markets are remaining robust, reflecting growing confidence that a long-term economic recovery will focus on low-carbon and sustainable policies. The sudden and sharp decline in economic activity since March did, admittedly, feed through to Europe’s emissions trading system

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