Akshat Rathi
Senior climate/energy reporter at Bloomberg; covers global energy markets, decarbonization finance, industrial policy, hosts the Zero podcast.
Spring in Cefalù: History, Gelato, and Yacht Views
Enjoyed the perfect spring day in the little Sicilian town of Cefalù, about an hour from the capital Palermo. Like so much of Sicily, it has influences of the conquerors -- Romans, Byzantine, Arabs and Normans. Now it's a major tourist destination, with superb gelato, giant arancini and lots of local artist shops. The anchored yacht was a bonus for some good shots through the day. 📷 Shot with Fujifilm X100VI.
Official Statement Prioritizes Sustainability over Oil
Beyond oil and barrels, the official statement has these keywords, "sustainability" "emissions reductions" "renewables" "low-carbon solution" "resilience" and "energy system transformation"
Mayor Sadiq Khan’s Decade of Crisis Leadership, Climate Commitment
This week's guest on Zero is London's mayor Sadiq Khan. We had a wide-ranging conversation about his 10 years guiding the UK's capital through Brexit, the pandemic and two energy crises. All through it, he has remained deeply committed to...
Trump’s Tariffs and Iran War Cripple Non‑China Manufacturers
Trump's foreign policy (tariffs and Iran war) could not have landed at a worse time for industries outside China. Those factories were already facing cheap Chinese goods (because of weak yuan and domestic subsidies), then Trump raised tariffs and energy prices....
IEA Predicts Global Oil Demand Decline in 2026
IEA: “Global oil demand is expected to fall by 80,000 barrels per day year-on-year in 2026, revised down from growth of 640,000 barrels per day seen in last month’s report. The pace of decline will subside in our base case...
Hormuz Blockade Hurts US; Iran, China Outlast Trump
"The oil math is skewed against the White House. The blockade has a slim chance of working. Iran can remain defiant — and China unconcerned — longer than Trump can remain solvent." https://www.bloomberg.com/opinion/articles/2026-04-14/the-hormuz-blockade-is-as-much-about-china-as-iran
Rising Gas Prices Won’t Halt Asia’s Renewable Shift
Don't fall for the easy narrative that costly gas will mean more coal burn in Asia. Briefly in the short term maybe, but the long term trajectory toward renewables gets stronger. Look at the math behind the argument. 🎁🔗 https://www.bloomberg.com/opinion/articles/2026-04-01/iran-war-the-lng-shock-isn-t-driving-asia-back-to-coal
US Data Center Growth Stalls Over Imported Equipment Shortage
Almost half of US data centers planned for 2026 are expected to be delayed or canceled. One big reason is the shortage of electrical equipment, such as transformers, switchgear and batteries. US doesn't have manufacturing capacity, forcing it to rely...
Energy Shock Accelerates Global Shift to Electrification
One month in to the war, some people are ready to call it. This energy shock will accelerate the world to a cleaner, more electrified future. “Electrification will be seen as the shock absorber.” https://www.nytimes.com/2026/04/01/opinion/oil-crisis-iran-electric-solar.html
Asia May Shift to Coal, Accelerate Renewables, Cut Gas
“If you’re sitting in Asia, going through this again, it’s possible you change your strategy long term — rely more on coal for longer, build out your renewables faster and reduce your exposure to natural gas.” https://www.bloomberg.com/news/articles/2026-03-29/iran-war-s-gas-supply-shock-pushes-top-consumers-back-to-coal
Oil Spike Signals New Unpredictable Global Crisis
To me, the news cycle now resembles that of March 2020, where it feels like we're dealing with an unpredictable threat that will have immense global consequences. That's subjective, though the swing in oil prices provides a data point to back...
Satellites Spot Surge in Flaring After Iran Attack
War unleashes many horrors, including environmental ones. Satellites are starting to reveal the details. https://www.bloomberg.com/news/articles/2026-03-23/iran-war-missile-attack-on-ras-laffan-spurs-increased-flaring-satellites-show
CERAWeek's Chart Set to Dominate Energy Discussions
World's top energy executives are meeting in Houston for the annual CERAWeek conference this week. I hope this chart is the talk of town.
Post‑2020 Crises Unlock Cheap Solar and Electric Alternatives
Fossil fuel crises before the 2020s left consumers with three options: 1. Switch fuel if possible 2. Pay more if you can find fuel 3. Cut fuel use Fossil fuel crises after the 2020s give new affordable options: 4. Install cheap solar panels and...
Gulf Oil Industry Faces Crisis After Unthinkable Event
Great explainer about just how screwed Gulf oil is now that the unthinkable has happened... https://www.youtube.com/watch?v=z6QlFpPMPKQ
Seized Trump Oil Tankers Drain U.S. Treasury, Sale Blocked
Um... "The seizures have put the U.S. government in a financial bind. The ships are highly expensive to maintain. And the Trump administration cannot legally sell their oil without a judge’s permission." https://www.nytimes.com/2026/03/13/us/politics/trump-seized-oil-tankers-cost.html
China Passes Law Accelerating Environmental Ambitions, Defying Expectations
Meanwhile, shockingly, the other major global power is doing the very opposite within its own borders... https://www.bloomberg.com/news/articles/2026-03-13/china-s-new-law-signals-xi-won-t-curb-environmental-ambitions
Electrification Remains Overlooked Climate Solution, Reporter Frustrated
As a climate and energy reporter, I have to admit continued frustration in trying to convince people that electrification is a climate solution, regardless of what is used to generate the power. Sigh...
EVs Cutting Oil Demand by 1.5M Barrels Daily
Are electric vehicles denting oil demand? Yes. By how much? 1.5 million barrels of oil a day, according to EV Curve Futurist. Caveat: These estimates are hard, but the numbers are certainly adding up.
Iran’s Terror Threat Wanes, but Intent Intensifies
"Over the past five years, U.S. authorities have disrupted 17 Iranian plots targeting the homeland. Even as the Iranians’ capabilities are being attenuated, their intent to attack, if anything, is growing stronger." https://www.theatlantic.com/ideas/2026/03/iran-terror-attack-risk/686277/?gift=3ObTKY0I1nS0F4IydLmzGcnFNoPWO9AP_QIKgsRfc2E&utm_source=copy-link&utm_medium=social&utm_campaign=share
U.S. Frackers Resist Production Swings Amid Price Volatility
"We don’t like to whipsaw these programs up or down, ConocoPhillips Chief Executive Ryan Lance told analysts. The price of a barrel of U.S. crude topped $120 in early 2022 and fetched as little as $55 in December." https://www.wsj.com/business/energy-oil/why-american-frackers-arent-rushing-to-pump-more-oil-d0d36a4d
Iran Conflict May Accelerate Solar and Battery Adoption
Past fossil-fuel price spikes left import-dependent countries with two options: pay up or cut fuel use. Now there is an alternative in solar and batteries. I looked at recent examples in Europe, Pakistan and Cuba to glean what might happen...
Middle East War Threatens Oil Markets, Accelerates Clean Energy Shift
Many consider a widespread war in the Middle East the worst-case scenario for the global oil and gas markets. That war is here, and it could have long-lasting impacts on energy and climate policy. This week on Zero, I speak...
Cheap Chinese EVs: Attractive Until Companies Collapse
Cheap Chinese EVs are boon, until the company goes bust. "Neta Auto’s parent company filed for bankruptcy last year after failing to pay wages, stranding customers in Thailand without after-sales support. Singulato, Aiways, Byton, and Levdeo have all shut down." https://restofworld.org/2026/china-ev-exports-competition-price/
Nearly All U.S. Coal Plants Already Met 2012 Rules
"Nearly all coal plants in the United States have already met the 2012 requirements by installing new pollution controls, experts said. Many that didn’t make those investments have shuttered." https://www.nytimes.com/2026/02/20/climate/epa-mercury-coal-plants.html
Ethiopia’s Car Import Ban Drives EV Surge
Two years ago, Ethiopia did something no other rich country has yet. It banned the import of new fossil fuel cars. In that time, the country went from less than 1% of its vehicles being electric to more than 6%...
Affordability Drives Surge in Used Electric Car Sales
Appetite for new electric cars may be waning in the US. But demand for used ones is rising. “The buzz word for the year is ‘affordability’ for a really good reason,” said one analyst. https://www.bloomberg.com/news/articles/2026-02-14/booming-used-ev-sales-reveal-what-car-buyers-want
EU Mandates 25% Low‑carbon Steel in Public Contracts
EU's climate policymaking continues. "Governments will be required to ensure that 25% of steel used under public procurement and subsidy programs is low-carbon. The bloc will apply similar rules for aluminum and cement." https://www.bloomberg.com/news/articles/2026-02-16/eu-will-pitch-green-steel-as-key-pillar-of-industrial-revival
Offset‑Dependent Clean‑Cooking Firm Fails, Warns Developing Nations
Clean cooking is a key climate solution. A company that raised $300 million and was reliant on carbon offset sales for its business model to work has gone bust. Lots of lessons for developing countries and offset sellers. https://www.bloomberg.com/news/articles/2026-02-16/clean-cooking-company-s-collapse-touches-world-bank-and-beyond
Singapore's Car Taxes Outpace Fiji's Entire GDP
Singapore is one of the world's biggest oil-trading hubs. It also LOVES to tax cars. https://www.bloomberg.com/news/articles/2026-02-13/singapore-s-car-tax-revenue-now-so-high-it-exceeds-fiji-s-gdp
Banks Poured $429B Into Steel; Capital Isn’t the Hurdle
"Between 2016 and mid-2023, 354 banks provided $429 billion to the 100 biggest steel producers, suggesting that finding capital isn’t the main challenge." https://www.bloomberg.com/news/articles/2026-02-11/banks-backing-green-steel-fund-false-solutions-report-says