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New Energy Partnership to Be Announced in Calgary

  Prime Minister Mark Carney and Alberta Premier Danielle Smith, seen here together last month, have been discussing a potential agreement focused on the energy sector for months.  Former Bank of England governor Mark Carney and Alberta Premier Danielle Smith are expected to unveil a major energy deal in Calgary this Thursday, according to a source familiar with the matter. The agreement is anticipated to focus on advancing clean energy initiatives while balancing Alberta’s traditional oil and gas strengths. Carney, who has been a vocal advocate for sustainable finance and climate-conscious investment, is set to join Smith in highlighting how the deal could position Alberta as a leader in energy transition. While details remain under wraps, the announcement is expected to emphasize collaboration between government and industry, aiming to attract investment, create jobs, and strengthen Canada’s role in global energy markets. The Calgary event underscores the growing importa...
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Yemeni Houthi Rebel Attacks on Ships in the Red Sea Disrupt Global Trade

 

The Yemeni Houthi rebel attacks on ships in the Red Sea have been causing significant disruptions to global trade. The Houthis, who are backed by Iran, have been targeting commercial ships in the region with drones and anti-ship missiles. 

The attacks have escalated since the start of the Israel-Hamas war in October 2023. The Red Sea is a crucial maritime artery for consumer goods and energy supplies, with 40% of Asia-Europe trade normally flowing through the area. The attacks have rerouted most of the trade normally flowing through the Red Sea, delaying shipments and raising transport costs. The impact of the attacks has been felt worldwide, with electric car maker Tesla announcing that it had to shut down its factory outside Berlin due to delays in supply chains.

In response to the growing impact on global trade, the United States and a host of other nations have created a new force to protect ships. The Biden administration has set up a 10-nation naval task force to protect ships traveling along this important route. Some of the world’s largest container shipping companies and oil giant BP have been sending vessels on longer journeys that bypass the Red Sea.


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