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Top stories shaping your industry for the week of February 21

Fuel ships with offshore wind: Shipping giant Maersk and other firms are developing technology to help the maritime industry move from diesel to wind power.

Energy costs spike: The UK energy regulator, Ofgem, announced that the energy price cap will rise by more than 50% from April. 

Countries emit more methane than they report: According to a new report by IEA, methane emissions from the energy sector are about 70% higher than reported in official data.

Oil prices are fluctuating dramatically: As a result of escalating conflict between Russia and Ukraine, oil rose to nearly $100 a barrel on Tuesday, reaching its highest level since 2014.

Largest-ever US offshore wind auction: Companies are competing for nearly 500,000 acres, broken into six individual lease areas. The energy generated from the new leases can power up to two million homes. The auction has already attracted a record $1.5 billion in bids, marking a major step forward for offshore wind power in the United States.

World leaders seem distracted: This week marked the 100th day since COP26, but there is no obvious progress that has been made on the commitments made during the conference in Glasgow.

A universal speech translator: Meta has announced plans to create translation software that works for everyone in the world. “The ability to communicate with anyone in any language—that’s a superpower people have dreamed of forever, and AI is going to deliver that within our lifetimes,” said Meta CEO Mark Zuckerberg during an online event.

Lack of top software companies threatens Europe’s economic competitiveness: Europe can take a lead by playing to its strengths: vertical B2B software, software platforms for digitizing small and medium-sized enterprises (SMEs), and horizontal platforms built on European R&D excellence.


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