World
Von der Leyen unveils five proposals to curb rising energy prices
Ursula von der Leyen has unveiled a collection of long-awaited proposals to sort out the EU’s worsening vitality disaster and curb the hovering payments which are placing European households and corporations below monetary stress.
The European Fee president proposed an EU-wide plan to cut back electrical energy consumption, a value cap on the surplus revenues made by renewables and nuclear vitality, a solidarity mechanism to seize the “huge” and “sudden” income reaped by fossil gas corporations, and a state support programme to inject further liquidity into struggling utility companies.
“The manipulation of the gasoline markets has a spill-over impact on the electrical energy market,” von der Leyen mentioned on Wednesday afternoon.
“We’re confronted with astronomic electrical energy costs for households and corporations and with huge market volatility.”
Von der Leyen additionally put ahead a value cap on imports of Russian pipeline gasoline, which, if launched, might push the Kremlin to retaliate and completely droop gasoline flows.
“We should minimize Russia’s revenues which Putin makes use of to finance this atrocious warfare in opposition to Ukraine,” she mentioned.
Over the previous few months, Gazprom has lowered the gasoline circulate by way of its pipelines, shutting down Nord Stream 1 for an indefinite period of time.
Consequently, von der Leyen defined, the share of Russian pipeline gasoline within the EU’s whole imports has plunged from 40% earlier than the warfare to 9% at this time.
Norway, she mentioned, has changed Russia because the bloc’s main gasoline provider.
The president added her companies had been additionally inspecting the opportunity of a value cap on all imported gasoline, which would come with liquefied pure gasoline (LNG), a commodity that has develop into key to diversifying away from Russia.
Nevertheless, this far-reaching cap wouldn’t be tabled in the meanwhile.
“LNG is scarce and may be rerouted to completely different areas,” von der Leyen mentioned. “We [want to] keep aggressive for LNG suppliers however ensure that the costs we pay usually are not terribly excessive however in a good vary.”
‘We have to flatten the peaks’
The measures offered by the Fee chief are all of outstanding nature and replicate the balancing act between intervening within the free market and guaranteeing the safety of vitality provides.
The primary proposal, electrical energy financial savings, would set up a “necessary goal” for limiting energy use throughout peak hours when the function of gasoline turns into outsized and the payments swell.
“This requires sensible discount in demand. We want a method to flatten the peaks which drives the worth of electrical energy,” von der Leyen mentioned.
The EU has already put in place a voluntary plan to chop gasoline consumption by 15% earlier than subsequent spring.
The second proposal is supposed to restrict the surplus revenues made by so-called inframarginal mills, that’s, those that do not use gasoline to provide electrical energy, corresponding to renewables, nuclear and coal, and have considerably decrease manufacturing prices.
For the reason that ultimate value of electrical energy is at all times set by the most costly gas to satisfy calls for – on this case, gasoline – these inframarginal mills are seeing “revenues they by no means dreamt and that they can not reinvest as quick,” von der Leyen mentioned.
The distinction between the ultimate electrical energy value and the yet-undefined EU cap would create further funds for governments, which might then be used to assist customers in want.
“It’s now time for customers to learn from the low prices of low-carbon vitality sources,” von der Leyen mentioned.
An identical mechanism might be utilized to fossil gas corporations that commerce oil and gasoline, however this may goal their declared income, relatively than the market dynamics.
The 5 concepts will likely be additional mentioned by EU vitality ministers on Friday throughout an emergency assembly, the place politicians are anticipated to provide the Fee a clearer political mandate on the right way to transfer forward.
The cap on Russian gasoline is poised to be essentially the most divisive proposal, given the completely different ranges of dependency amongst member states. Final week, Hungary introduced a brand new contract with Gazprom for an additional 5.8 million cubic metres of every day gasoline.
As soon as agreed, the measures might be quickly launched below an emergency process.
Fee officers had beforehand rejected different drastic proposals, corresponding to subsidies for carbon emissions permits or an outright suspension of the wholesale market.
The chief additionally dismissed the opportunity of making use of the Iberian mannequin – a subsidised cap on gasoline costs – to your complete EU market, fearing it will encourage increased consumption of gasoline and make international locations extra susceptible to Russia’s provide manipulation.
Von der Leyen and her staff have been the goal of criticism in current days, with each European Council President Charles Michel and Belgian Prime Minister Alexander De Croo decrying the late collective response to the vitality disaster.
Market intervention “ought to have been performed earlier, and it is a disgrace that it took so lengthy,” De Croo mentioned.
World
Small plane crashes into Brazil town popular with tourists, killing 10
Twin-engine plane crashed in largely residential neighborhood of Gramado shortly after takeoff, authorities say.
A small plane has crashed into a tourist hotspot in southern Brazil, killing all 10 people on board and injuring more than a dozen people on the ground, officials have said.
The twin-engine Piper PA-42-1000 hit the chimney of a home and the second floor of a different house before crashing into a shop in a largely residential neighbourhood of Gramado shortly after takeoff from Canela, Brazil’s Civil Defense agency said on Sunday.
Rio Grande do Sul Governor Eduardo Leite told a news conference that the aircraft’s owner and pilot, Luiz Claudio Galeazzi, was killed along with nine members of his family.
Leite said that 17 people on the ground were injured, 12 of whom were still receiving treatment in hospital.
Galeazzi’s company, Galeazzi & Associados, confirmed that its CEO and Galeazzi’s wife and three daughters had died in the crash.
“Luiz Galeazzi will be forever remembered for his dedication to his family and for his remarkable career as a leader of Galeazzi & Associados,” the company said in a post on LinkedIn.
“In this moment of immense pain, Galeazzi & Associados is deeply grateful for the expressions of solidarity and affection received from friends, colleagues and the community. We also sympathize with all those affected by the accident in the region.”
Gramado, located in the Serra Gaucha mountains, is a popular destination for vacationers, especially during the Christmas season.
The crash comes a little more than a year after Brazil suffered its worst air disaster in nearly two decades when a twin-engine plane crashed in the southeastern city of Vinhedo, killing all 62 people on board.
World
Memes, Jokes and Cats: South Koreans Use Parody for Political Protest
As South Koreans took to the streets this month demanding the ousting of their president, some found an unexpected outlet to express their fury: jokes and satire.
They hoisted banners and flags with whimsical messages about cats, sea otters and food. They waved signs joking that President Yoon Suk Yeol’s declaration of martial law had forced them to leave the comfort of their beds. Pictures of the flags spread widely on social media.
The idea was to use humor to build solidarity against Mr. Yoon, who has vowed to fight his impeachment over his ill-fated martial law decree on Dec. 3. Some waved flags for nonexistent groups like the so-called Dumpling Association, a parody of real groups like labor unions, churches or student clubs.
“I just wanted to show that we were here as part of the people even if we aren’t actually a part of a civic group,” said Kim Sae-rim, 28, who waved the flag of the dumpling group at a recent protest she went to with friends. Some groups referred to other local favorites like pizza and red bean pastries.
Kwon Oh-hyouck, a veteran protester, said that he had first seen such flags emerge during demonstrations in 2016 and 2017 that ultimately resulted in the removal of President Park Geun-hye. Mr. Kwon said that satire was part of the Korean spirit of protest.
“People satirize serious situations, even when those in power come out with guns and knives,” he said. “They are not intimidated.”
In the past month, protesters have come up with a wide range of unorthodox groupings. Some were self-proclaimed homebodies. Still others came together as people who suffered from motion sickness.
Lee Kihoon, a professor of modern Korean history at Yonsei University in Seoul, said that he believed the flags at this month’s protests were an expression of the diversity of people galvanized by the president’s attempt to impose military rule.
“They’re trying to say: ‘Even for those of us who have nothing to do with political groups, this situation is unacceptable,’” he said. “‘I’m not a member of a party or anything, but this is outrageous.’”
Some held signs ridiculing Mr. Yoon, saying that he had separated them from their pets at home and disrupted their routine of watching Korean dramas. One group called itself a union of people running behind schedule, referring to the idea that the need to protest over martial law had forced them to reschedule their appointments.
And of course, there were animals, both real and fake.
South Koreans have shown that protests for serious causes — like the ousting of a president — can still have an inviting, optimistic and carnival-like atmosphere.
“I don’t know if the protesters realize it, but even though they’re angry, they haven’t gotten solemn, heavy or moralistic,” Mr. Lee said. “The flags have had an effect of softening and relaxing the tension.”
On the day that lawmakers voted to impeach Mr. Yoon, protesters who were K-pop fans brought lightsticks to rallies and danced to pop songs blasting from speakers. “Even though this is a serious day,” said Lee Jung-min, a 31-year-old fan of the band Big Bang, “we might as well enjoy it and keep spirits up.”
World
Two US Navy pilots shot down over Red Sea in apparent 'friendly fire' incident: US military
Two U.S. Navy pilots were shot down Sunday over the Red Sea in what appeared to be “friendly fire”, the U.S. military said.
The pilots were found alive after they ejected from their aircraft, with one suffering minor injuries.
The incident demonstrates the pervasive dangers in the Red Sea corridor amid ongoing attacks on shipping by the Iranian-backed Houthis, even as U.S. and European military coalitions patrol the area.
The U.S. military had conducted airstrikes targeting Yemen’s Houthi rebels at the time, but U.S. Central Command did not elaborate on what their mission was.
US NAVY SHIPS REPEL ATTACK FROM HOUTHIS IN GULF OF ADEN
The military said the aircraft shot down was a two-seat F/A-18 Super Hornet fighter jet assigned to the “Red Rippers” of Strike Fighter Squadron 11 out of Naval Air Station Oceana, Virginia.
The F/A-18 shot down had just flown off the deck of the USS Harry S. Truman aircraft carrier, according to Central Command. On Dec. 15, Central Command said the Truman had entered the Mideast, but did not specify that the carrier and its battle group were in the Red Sea.
“The guided missile cruiser USS Gettysburg, which is part of the USS Harry S. Truman Carrier Strike Group, mistakenly fired on and hit the F/A-18,” Central Command said in a statement.
It is unclear how the Gettysburg had mistaked an F/A-18 for an enemy aircraft or missile, particularly since ships in a battle group are linked by radar and radio communication.
US MILITARY CONDUCTS SUCCESSFUL AIRSTRIKES ON HOUTHI REBEL FORCES IN YEMEN
Central Command said that warships and aircraft earlier shot down multiple Houthi drones and an anti-ship cruise missile launched by the rebels. Fire from the Houthis has previously forced sailors to make decisions in seconds.
The U.S., since the Truman arrived, has ramped up its airstrikes targeting the Houthis and their missile fire into the Red Sea and the surrounding area. But an American warship group in the region may lead to additional attacks from the rebels.
On Saturday night and into Sunday, U.S. warplanes conducted airstrikes that shook Yemen’s capital of Sanaa, which the Houthis have held for a decade. Central Command said the strikes targeted a “missile storage facility” and a “command-and-control facility.”
Houthi-controlled media reported strikes in both Sanaa and around the port city of Hodeida, but did not disclose details on any casualties or damage.
The Houthis later acknowledged the aircraft being shot down in the Red Sea.
Since the start of the Israel-Hamas war in October of last year, the Houthis have targeted about 100 merchant vessels with missiles and drones.
The rebels say that they target ships linked to Israel, the U.S. or the U.K. to force an end to Israel’s war against Hamas in Gaza, which began after Hamas’ surprise attack against Israel on Oct. 7, 2023, although many of the ships the rebels have attacked have little or no connection to the ongoing war, including some headed for Iran.
The Houthis also have increasingly targeted Israel with drones and missiles, leading to retaliatory airstrikes from Israeli forces.
The Associated Press contributed to this report.
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