• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days The United States produced more crude oil than any nation, at any time.
  • 9 days e-truck insanity
  • 4 days How Far Have We Really Gotten With Alternative Energy
  • 8 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 7 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 7 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 9 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 9 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 12 days Bankruptcy in the Industry
Oil Fund Withdrawals Suggest Extended Price Rally

Oil Fund Withdrawals Suggest Extended Price Rally

Investors are ditching the oil…

The EU Allows Members to Ban Russian LNG as Imports Climb

The EU Allows Members to Ban Russian LNG as Imports Climb

The European Parliament approved rules…

Germany Makes New Energy Savings Measures Mandatory

Germany passed on Thursday a bill that would make energy savings measures mandatory across all economic sectors, according to media.

The new law, called The Energy Efficiency Act, would regulate energy savings in public buildings, industry, and data centers in hopes of reducing energy consumption by 26.5% by 2030 compared to 2008.

The Energy Efficiency Act goes beyond the measures Germany took last year when it was operating under the fear that energy supplies could run short in the wake of Russia restricting gas supplies. In August of last year, Germany banned swimming and bathing pool heat, and capped heating above 66F in office buildings, and banned heating in certain public areas. Hot water was turned down for handwashing in restrooms, and monument and advertisement lighting was mostly prohibited.

In 2022, Germany’s energy consumption fell to the lowest level since 1990.

The new law—a scaled back version of a bill introduced in April—will require companies to draw up plans to save energy, but binding measures are not part of the bill. Managing Director at DIHK Chambers of Commerce and Industry said that new measures could not be achieved without “endangering economic growth” in Germany.

Still, climate group Germany Energy Efficiency Initiative said it was still unlikely that Germany would reach its 2030 target of cutting emissions by 65% compared to 1990.

Reduced energy consumption is just a part of Germany’s aggressive green initiatives. Earlier this week, Germany’s Economy Minister Robert Habeck said that renewable energy sources were expected to generate over 50% of the country’s electricity this year, with Germany setting a goal for this figure reaching 80% by 2030—but “we won’t get there at the current pace,” Habeck added.

By Julianne Geiger for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News