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tv   Business - News  Deutsche Welle  October 5, 2022 11:15pm-11:31pm CEST

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against russia after moscow's a legal annexation of 4 regions in ukraine, plant measures are set to include a price cap on russian oil washing dw news from berlin, coming up next. opec countries agree to slash oil out, but in the coming months, back and more on business with my colleague ra, unequal, further from berlin. thank you so much for a company today. with people and trucks injured when trying to flee the city center. more and more refugees are being turned away as the border families playing phone tags in syria to these critical illness with people lean,
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extreme ross getting 200 people from the june around the world. more than 300000000 people are seeking, refuse to why? because no one should have to flee make up your own mind. w. made for mines. ah, ah, another blow to global energy supplies, the oil producing cartel opec plus is reducing output by $2000000.00 barrels a day in a move is likely to hike energy prices further. and spain and germany plot a new pipeline through the parent ease cannot guarantee europe's energy security.
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this is due to be a business on robots in berlin. welcome to the program, the opec oil producing countries and their allies have agreed to slash their output over the coming months. at a meeting in vienna, opec plus, which also includes russia, decided to reduce production by $2000000.00 barrels per day. move ames to support oil prices, which have fallen by 30 percent since june. u. s. president joe biden low says he's disappointed by this decision. the decision which he's called short sighted. well, let's discuss this further with carol knox law who is seo of crystal energy. thanks a lot for joining us on d. w. business. this decision by opec, this is going to come as a blow to countries already struggling with their energy costs, isn't it? when if you good to look at the number to $1000000.00 a day, literally, that is definitely
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a market which has been struggling with high prices. but actually market observers understand it's not going to be the actual 2000000 barrels a day taken out of the market because they can its allies in a big loss. most of them have been producing below the i look at the quote and located to them. so in reality, the $2000000.00 barrels a day would translate into less than $1000000.00 a day off barrels taken out of the market. i'm not trying to down today the significance of that. i'm always not as bad as $2000000.00 a day, but we're seeing already upward pressure on oil prices, which is already been used to energy consumers around the word. yes, americans are particular going to say it of the petro pumps on then president, buying the sofa is disappointed by this decision is quoted short sighted is the, or is going to have to act in some way in response to this one. definitely politically speaking, the u. s is not happy with, so is a decision. i don't want to say the u. s. because you as is also the world's
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largest oil producer. so in that respect i, it with prices can also benefit the u. s. this is an extent, but low degree speaking because we are heading towards mid term elections. and in months time that is not good news because high prices affect the popularity of the current president and his administration. how the u. s. were viet, i'm not quite sure how it can they react in the short term. but one of the possible scenarios is that they will reactivate the no big bill which was a discussed earlier this year and which would qualify a big as a car. and there would be consequences, legal consequences. but beyond that, there will be mainly political developments, which are unlikely to guess at this stage. thing with apec plus is the rusher, is at the table along with opec. so is there anything that we should read into russia's involvement here because it does tend to gain strategically, doesn't it? from this decision russia is an important player,
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was in class and actually even why it wasn't for the influence of the producer school. and it is the 2nd largest producer after saudi arabia. it has an important influence on the group, which is also showing here to russia. and by one thing i would pressure on price is that my, it says is in most of the board, russian, oil production and russian economy. just in time when western power is going to put a price cap on russian oil exports ok. car nutler from crystal energy. thank you so much taking the time thought was on the to be this. thank you. now germany and spain have agreed on the need for a new gas pipeline across the pyrenees. in western europe. just let all of shots has been visiting the spanish port of aconia, where he discussed getting liquefied natural gas from spain to the rest of the you with prime minister petro sanchez, spain has 6 main. ellen g in port terminals,
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ships carrying the liquid dock at these points where it's converted to gas to be transported by pipelines. but while there are plenty of pores clearly just too low capacity pipelines currently connect spain with neighboring france and therefore germany, that's why all of shots and peter sanchez say, a 3rd pipeline called mid cat needs to be completed by 2025. so let's cross to our correspondence following the german delegation in akron, you're nina has a nina. it's good to have you. on the program, germany clearly sees spain as pretty important to as future energy security, doesn't it? it does. indeed. in fact, germany sees almost any body as a very important part in that puzzle when it's trying to diversify its energy inputs. because of course, inputs from russia are no longer there and are no longer wanted either. so of
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course, spain plays an important role because you've mentioned it, it does get a lot of gas, but there is no connection into the european continent yet. now there is this pipeline project that was agreed upon a couple of years ago, but it was never finished because at the time people looked at the money and thought that it was not worth all the investment that would have had to go into it . but of course, the times have changed, and now germany is in favor of finishing this pipeline that would make gas imports from a countries like algeria possible into europe in a much quicker way. so germany's olaf shows and as spain's pedro sanchez have argued in favor of finishing this pipeline. but of course, there is a bit of opposition still to put it mildly from france because of course there is a very, as strong nuclear power lobby in france. yandy to how has that gone down with france and other parts of the eucharist, germany, but it also was oversee upon as over energy just recently. it has
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indeed, and the french president has so far, always argued also against that's a fact that some people have put forward. those who are in favor of finishing this pipeline by saying it is not proven that such a pipeline pipeline would ultimately also be capable of transporting green hydrogen because that is ultimately also the goal. they don't want to stick with natural gas . they do want the transition towards renewable energy and green. hydrogen is a buzzword in europe. a horse and spain says it does want to become the powerhouse for green hydrogen by 2030, says pedro sanchez. he wants to spain to essentially provide 10 percent of green hydrogen within europe. and as france is a very reluctant when it comes to finishing the pipeline. but a man when mike on the french president did go to berlin earlier this week, and today in the press conference, all i've shorts. when asked about potential french opposition to the project will
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have shorts. his answer was quite interesting because he said, we do want to build this project with france together with france, or we do have the impression that that is not ruled out. so that does seem to be a bit of movement here. ok, any not aconia in spain for us. thank you very much. a germany is also hoping that renewable energy is, can help me to it's future energy needs. but to do that, it also needs to be able to store the energy for when the sun is shining and the wind doesn't blow they call it the giga factory. this is where the startup test volt is based in the heart of germany. the company produces battery storage units. a single module stores 10 kilowatt hours, which can power the needs of a 4 person household buddy. the modules can be connected to one another and industrial companies are keen on acquiring them. them for workers, awake of the ukraine, more companies want a sustainable, secure,
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and affordable energy supply thing. and that's why customers call us and say, i need electricity stores. i want to freeze my electricity cost. if it's the only way to become independent of rising electricity prices, that is what the town of course climmer in eastern germany wanted with its new solar farm. there price $0.06 per kilowatt hour of solar power plus $0.10 for storing it. that's half of what it costs from the power grid. when even should the weather's good. and although solar plants produce extra electricity that we can store at that facility. but if the weather is overcast or in the evening, we can take it out of storage. the community could be a model for germany, but there are still only a few giant storage facilities installed in the country. that's because large scale expansion has its challenges. if he is worth a big missing building block is the raw material. batteries are often built using rare minerals right now we have to manage to use cheaper easily available raw
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materials like sodium, with new battery cell generations. and then a large scale nationwide expansion is also possible. so that will really manage to supply europe or parts of europe. 247, a truly self sufficient green, affordable safe waiver video for, for them to produce as much as possible. despite the global computer chip storage, the company has developed a new storage model given with an extreme failure, we had to respond extremely quickly and we're able to reduce the amount of chips we need is our products by 80 percent of capital one pounds on products that has helped us to grow. so a growing 100 percent this year over last year in union for place and foil. i'm not woodson. today the company already has orders worth more than 100000000 euros. and just recently, investors injected further capital into the start of the money will be used to
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build another giga factory. soon of all, those batteries aren't sufficient to supply europe's energy. the continents cowers might be able to step in the flatulent creatures produced their own special brand of gas. and it can be used as a fuel. the 600 dairy cows on this farm and pick chains up provide more than just milk. they also produce cheap fuel. let the inductive, ga thought the over the last few years we've started a project that is allowing us to produce renewable energy and to have an actual circular economy allotted. this machine extracts bio methane from cow waste. the processed by a methane is then pumped to a filling station in front of the farm that annoy produce at bio sustainable fuel from our livestock waste. d i. d o e, as an agricultural company can input it into the transport system is extremely gratifying on a personal level, not may i develop as sonali. here customers pay $1.00 euro, $39.00,
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a key low up to a half cheaper than most other gas in economically uncertain times. the station provides an advantage for the family business and local drivers. and a reminder, the top business story with following for you this hour, the f i co producing countries on that allies have agreed to slash that output by 2000000 barrels per day. to move aims to support oil prices, which form by 30 percent since june. muscle for me and the business team here in berlin from all go to d to we dot com slash business till next time the teachers are searching for their students in isabella and brazil. many children have most contact with the school. a consequence of the school closes during the pandemic. the teachers are campaigning for them to return. they know
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without education, these children have no chance. golden, 3000 next d w. what of these mountains of waste could just disappear? sustainable packaging is urgently sought bags made from algae, home, from mushrooms, the future of sustainability. when will new technologies become cost effective? made in germany in 60 minutes on dw, ah hello guys, this is the 77 percent. the platform for africa,
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you to be beat issues and share ideas with, you know, or this channel. we are not afraid to happen. delicate pop up because population is growing. had young people clearly had the solution. the future belongs to the 77 percent every weekend on d w ah ah, welcome to global 3000 empty seats. how brazil in schools are trying to attract students back to class.


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