The International Energy Agency says the energy crisis sparked by Russia’s invasion of Ukraine is likely to speed up rather than slow down the global transition away from fossil fuels and toward cleaner technologies. While some countries have been burning more fossil fuels such as coal in response to natural gas shortages, the IEA says that’s expected to be short-lived. The agency notes many countries have responded to soaring fuel prices by embracing wind turbines, solar panels, nuclear power plants, hydrogen fuels and electric vehicles.
Carnival Cruise Line has further eased its COVID-19 rules, dropping most of its remaining requirements this week. The cruise line is no longer requiring proof of vaccination or COVID testing for trips shorter than 15 nights. Princess Cruises made a similar change last week, lifting its remaining vaccine and testing requirements for many voyages.
Futures are mixed after stocks closed mixed yesterday. The Dow Industrials edged up 2, but the NASDAQ fell a sharp 228 and the S&P 500 was off 28.
