Power Shortages Loom Over Europe

1. Can There Be a UK Oil Renaissance?- The new UK government of Liz Truss might become one of the most pro-oil ones globally as she announced the opening up of some 130 license blocks in the North Sea as well as the controversial lifting of the ban on hydraulic fracturing in the country. - The previous government of Boris Johnson suspended licensing activities in 2020 as the UK took on ambitious climate goals, whilst the ban on fracking was introduced in 2019 amid opposition from environmentalists. - UK North Sea oil output has been declining for…