- As per a report on the Irish Times, the switch to electric motoring will cost the exchequer at least €2.5 billion in lost tax revenue a year by 2030, according to the Irish Fiscal Advisory Council (IFAC). Members of the budgetary watchdog appeared before the Oireachtas Committee on Budgetary Oversight on Wednesday (yesterday) to discuss the impact of the climate change transition on Government revenue. “The main impact on Government revenue is due to the electrification of Ireland’s stock of vehicles,” IFAC chair Michael McMahon said in his opening address to the committee. https://www.irishtimes.com/business/economy/2024/02/28/switch-to-electric-motoring-will-cost-exchequer-25bn-in-lost-tax-revenue-by-2030/
- The same article is also published in the Irish Independent the switch to electric vehicles (EVs) will eventually cost the State up to €4.4bn a year in lost taxes, according to an analysis by the Irish Fiscal Advisory Council (Ifac). By 2030, the reduction in government revenue from the introduction of EVs will represent €2.5bn, or 0.9% of Gross National Income, the measure of modified gross national income that strips out multinationals. https://www.independent.ie/business/irish/state-to-lose-44bn-a-year-in-taxes-because-of-switch-to-electric-vehicles-says-irish-fiscal-advisory-council/a1737157592.html
- ?According to Ireland's Forecourt & Convenience Retailer Ben Lenihan – Retail Director at Inver Energy has revealed the latest addition to its network of retail forecourts with the opening of Inver Castlecomer Road, strategically located just off the Castlecomer roundabout, in Kilkenny. “When selecting a strategic location for a new forecourt, the Retail Team and I carefully consider factors such as accessibility, visibility, convenience, market demand, competition and foot traffic. In the case of Inver Castlecomer Road, its strategic location just off the Castlecomer roundabout in Kilkenny offers advantages such as easy access to transportation routes, visibility to passing traffic, proximity to residential and commercial areas and potential for future growth and development in the region” said Ben. https://forecourtretailer.com/ben-lenihan-retail-director-at-inver-energy-on-the-new-castlecomer-forecourt/
- ?According to Ireland's Forecourt & Convenience Retailer, Circle K is Ireland’s leading forecourt retailer with 420 sites and a presence in all 32 counties. As Ireland’s market leader, IF&CR asks what makes Circle K the special K among the Irish forecourt family. “We have a clear global sustainability plan mapped out until 2030, and we adapt that to our localities,” said Paul Dixon the Senior Director of Retail Sales and Operations at Circle K. “There are three clear parts to this plan– planet, people and prosperity”. https://forecourtretailer.com/planet-people-and-prosperity-ifcr-talks-to-paul-dixon-senior-director-retail-sales-and-operations-at-circle-k-ireland/
- ?As per a report on Ireland's Forecourt & Convenience Retailer “The Maxol business performed stronger than ever in 2023, with solid growth in our convenience, coffee and fresh food categories, which are critical to our repositioning as fuel becomes a smaller part of our business as new forms of mobility grow in importance” said IF&CR talks to Maxol CEO Brian Donaldson. “2023 was the first year since the pandemic that we were able to experience more normal trading and working patterns in all of our five core areas of business – Retail Fuels, Wholesale Fuels, Retail Convenience, Fuel Cards and Lubricants. https://forecourtretailer.com/maxol-stronger-than-ever/
- ?As per a report on the Business Post, restrictions on data centres in Ireland have forced the sector to decarbonise at “an accelerated pace”, according to a new report by Barclays. ‘Green Data Centres- Ireland’s electricity dilemma’ is a new investment research paper from the British bank which also notes that new developments are being pushed outside of Dublin. The paper highlights how an increasing reliance on digital infrastructure and the advent of Artificial Intelligence (AI) are “meeting the harsh reality of decarbonisation targets” in Ireland. Barclays noted that Ireland had become a “data centre hotspot” in recent years, and that data centres consumed 18% of Irish electricity in 2022, “with no signs of these figures declining any time soon”. https://www.businesspost.ie/news/barclays-analysis-shows-restrictions-on-irish-data-centres-forcing-sector-to-decarbonise/
- ?As per a report on the Press TV, the cost of fuel at the petrol pump in England is impacted by the price of oil on international markets and by the value of the pound against the dollar, since oil is traded in dollars. The new pump price increases have been brought about by a recent jump in the price of oil. And one reason for that can be sought in the foreign policy decisions by the UK and its allies in the energy rich Middle East; decisions such as supporting Israel's ongoing genocidal war on Gaza, which has led Yemen's armed forces to launch attacks on Israel-bound ships, including UK vessels. The British Chambers of Commerce says more than half of the UK retailers and exporters have been affected by the disruption to the Red Sea trade with a 300% increase in the price of shipping a single container from Asia to Europe. https://www.presstv.ir/Detail/2024/02/29/721003/UK-foreign-policy-support-for-Israeli-Genocide-in-Gaza-responsible-for-surging-fuel-prices-in-the-UK
- ?The a report on the Irish Examiner reported that local activists and international environmental groups want Nigeria’s government to delay approving the sale of oil company Shell’s onshore assets, claiming the firm is trying to shirk its responsibilities over the highly polluted Niger Delta. The London-based company is trying to sell its subsidiary Shell Petroleum Development Company – which operates its onshore assets in the delta – to Renaissance Africa Energy Company, a consortium of local companies. Shell says the 2.4 billion dollar (￡1.89 billion) divestment deal is part of a “wider reconfiguration of the Nigerian oil and gas sector”. https://www.irishexaminer.com/world/arid-41341844.html
- ?According to a report on Reuters stated that,? after a larger-than-expected build in U.S. crude stockpiles stoked worries about slow demand, while signs that U.S. interest rates could remain elevated added to pressure. Brent crude futures for April fell 43 cents, or 0.5%, to $83.25 a barrel by 0830 GMT, after rising 3 cents in the previous session. The April contract expires on Thursday and the more active May contract was down 33 cents at $81.82. U.S. West Texas Intermediate crude futures were down 26 cents, or 0.3%, to $78.28 a barrel. Brent is set to end the month up at nearly 2%, its second monthly gain, while WTI is also set to rise for a second month, gaining about 3% in February. https://www.reuters.com/business/energy/oil-prices-ease-us-crude-stock-build-fuels-demand-fears-2024-02-29/
- As per report on Europe Fleet, on the European side of the Atlantic, the EU-wide Alternative Fuels Infrastructure Regulation (AFIR) has established a common framework for the deployment of hydrogen refuelling stations. AFIR has set a binding target in all EU member states to have at least one hydrogen refuelling station (HRS) every 200km on the TEN-T Core road network by the end of 2030, and at least one HRS in every urban node by the end of the decade. Under the EU Green Deal, the EU will provide financial support in excess of €352 million to 26 infrastructure projects to help deliver an environmentally sustainable transport network. https://www.fleeteurope.com/en/new-energies/europe/features/hydrogen-and-fuel-cell-incentives?a=JMA06&t%5B0%5D=Hydrogen&curl=1
