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Showing posts from January 8, 2024

BREAKING NEWS !

The French government is being sued for failing to outlaw bottom trawling in Marine Protected Areas.

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The French government has been formally asked by the Environmental Justice Foundation (EJF) and Defense des Milieux Aquatiques (DMA) to address its noncompliance with EU and French regulations pertaining to bottom trawling, one of the most damaging fishing methods. These regulations are obviously broken by allowing this practice to continue in some of France's most biodiverse and endangered marine areas. The NGOs claim that this situation puts the long-term sustainability of the fisheries in jeopardy in addition to compromising the integrity of these places. Legal action will be taken in a French court if the government fails to appropriately respond to this formal request. The request specifically targets two maritime protected areas, Chausey and Bancs des Flandres, where bottom trawling is causing habitat destruction. A major factor in the decline of marine biodiversity is bottom trawling, which is the practice of dragging weighted nets across the seabed. It unintentionally captu

Saudi pricing cuts offset Middle East concerns as oil prices decline.

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 Saudi pricing cuts offset Middle East concerns as oil prices decline. By Natalie Grover at 7:44 p.m. on January 8, 2024                                                                            Source reuters.com January 8, London (Reuters) - Sharp price cuts by Saudi Arabia, the world's largest oil exporter, and an increase in OPEC production countered supply worries brought on by the rising geopolitical unrest in the Middle East, causing oil prices to plummet by more than 2% on Monday. By 12:37 GMT, U.S. West Texas Intermediate crude futures had down 2.7%, or $2.01, to $71.8, while Brent crude had dropped 2.5%, or $1.99, to $76.77 a barrel. In the first week of 2024, both contracts increased by more than 2% due to growing geopolitical risk in the Middle East following attacks on ships in the Red Sea by the Yemeni Houthis. Saudi Arabia lowered its flagship Arab Light crude's February official selling price (OSP) to Asia to its lowest level in 27 months on Sunday due to incre