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DUBAI, United Arab Emirates — Soaring gas prices are the cost of the attempted shift to renewable energy sources, OPEC Secretary General Mohammed Barkindo told CNBC on Tuesday. 

“I have talked about a new premium that is emerging in the energy markets that I term the transition premium,” Barkindo told CNBC’s Dan Murphy at the Gastech conference in Dubai. 

The long-time head of the oil cartel criticized what he believed was an overly emotional approach to energy policies and climate change, though he did not point a finger at specifically who was to blame for what he described as a “misrepresentation of facts.” 

Barkindo contended that there was “distortion of facts and the science, and the misrepresentation of these facts in the conversation, which is not healthy, because climate change and the energy transition are supposed to be guided by the science.” 

“The intergovernmental panel on climate change is supposed to be the most authoritative body with regard to both climate change and the transition,” he said. “And we in OPEC believe they are doing a great job, they are producing very very important, seminal reports, but unfortunately these reports are being set aside and the discussions ensuing at the moment, more or less being driven by emotions rather than the great work that this scientific body is producing for all of us.”  

Tripled gas prices 

The OPEC chief’s words reflect a growing debate among policymakers and energy executives about the future of energy, renewables, and the climate. Many governments around the world and particularly in the West are pushing for a shift away from fossil fuel use, while those in the industry argue that a rapid transition attempt will disrupt markets, harm consumers, and is ultimately unrealistic.   

Global gas prices have tripled this year alone, sending ripples through markets and raising concerns that prices of the commodity will only continue to rise. 

The roots of the price increase lie in higher demand and lower supply, as higher summer temperatures in the U.S. stoked demand for air conditioning, and longer periods of cold in the U.K. other parts of Europe in the spring meant increased needs for heating.

The fuel nozzle in a car at a gasoline pump at the Citgo gas station on Lancaster Ave in Reading, PA Monday afternoon September 20, 2021.
Ben Hasty | MediaNews Group | Getty Images

This has all led to lower gas supplies for the coming winter months, meaning we are likely to see a greater squeeze on supplies and higher prices to come. 

Gas prices had remained very low since the onset of the coronavirus pandemic, at around $2 per one million British thermal units, or mmBtus. But the reopening of economies and restart of travel as vaccination campaigns expand have jolted demand upward.  

‘A burden on many countries’

United Arab Emirates Energy Minister Suhail Al Mazrouei, speaking to CNBC at the same event, contended that while gas prices appear high, they came from a very low level to begin with.

“It was coming from a very low environment,” Al Mazrouei said of the gas price situation. “I think the current prices, if they continue they will be a burden on many countries and will not see the demand side on a longer term be ready to take such prices.”  

The energy minister said that “the right balance is the balance between the affordability of the consumers and the fact that we are seeing a reasonable return for the developers and the producing countries,” but added, “We’re not there yet.” 

The costs, regulations and financing needs surrounding new energy projects are a barrier to any return to lower prices, Al Mazrouei noted.  

“This is a situation that is responding to a low gas environment that happened before,” he continued. “Now, what is sustainable, I think the market will dictate it. There are challenges, financing new projects, especially for the IOCs (international oil companies), and we need to have a realistic view on easing such restrictions for them to finance new projects.”

“That’s what I think we will be discussing between the industry, the companies and the consumers and some of the developers as well, and hopefully, during the discussions of the event, they could announce new projects that could balance the prices in the future,” he added.

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New ‘world’s lightest, most efficient’ e-bike motor lands on another model

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New 'world's lightest, most efficient' e-bike motor lands on another model

Last week, we reported that the e-bike world had a new motor claiming to be the lightest and most efficient. Now, we’re already seeing TQ’s new TQHPR40 motor proliferate on more road and gravel e-bikes, including the recently announced E-ASTR from Ridely.

Ridley’s new E‑ASTR brings lightweight electric assistance to its already impressive ASTR gravel platform, powered by the cutting-edge TQ HPR40 mid-drive system. Unlike bulkier e‑bike setups, this system adds just 1.17 kg (2.6 lb) at the crank and a discreet 1.46 kg (3.2 lb) and 290 Wh battery hidden within the downtube, keeping the frame’s silhouette nearly identical to the non-electric version of the same bike. According to BikeRumor, riders looking closely might spot only a slightly fatter downtube, internal cable routing, and a handlebar-end LED indicator, giving visual clues without shouting “electric bike.”

What the E‑ASTR gives up in sheer power from the petite motor, it gains in ride feel. The HPR40 is said to deliver a modest 40 Nm of torque and up to 200W of assist, or enough to smooth out climbs or offer a tailwind on gravel without overpowering the rider. With support cut off at 25 km/h (15.5 mph), pedal responsiveness remains natural and fluid. Combined with the ASTR’s race-inspired geometry, the bike looks to offer sharp handling and comfort suited to the rigors of modern gravel routes.

Ridley is currently offering the E‑ASTR in three spec levels: a value SRAM Apex XPLR AXS build €7,199 (or approximately US $8,500), a mid-range SRAM Rival XPLR AXS 1×13 version for €8,199 (or approximately US $9,700), and a top-tier Shimano GRX 2×12 Di2 model for €8,899 (or approximately US $10,500). Each features high-end drivetrains, integrated cockpit options, carbon wheels, and industry-standard gravel brakes and tires. With its race-ready frame and stealthy, lightweight e‑assistance, the E‑ASTR is positioning itself as a high-performance gravel machine that stays true to its roots, delivering help when needed, without overshadowing the rider.

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Wait, you’re telling me that’s an electric bike?!

Ultra-lightweight motors like the TQHPR40 are quietly reshaping the e-bike industry by making electric assistance almost invisible, both in looks and in feel. As systems shrink and integrate more seamlessly into traditional bike frames, they’re opening the door to new categories of performance-oriented e-bikes that preserve the ride dynamics of analog bikes while offering just enough support when it counts.

For riders who value a natural pedaling experience but still want a little help on climbs or longer days, and especially for aging riders who want to maintain their riding habits despite father time taking an impact on joints and muscles, these minimalist systems are proving that you don’t need a bulky battery or a massive motor to get the benefits of going electric. The result is a wave of stealthy, high-performance e-bikes that are less about replacing effort and more about enhancing the ride.

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Tesla, Trump alliance falls apart – but there’s BIG news for electric semi fleets

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Tesla, Trump alliance falls apart – but there's BIG news for electric semi fleets

After a month off trying to wrap our heads around all the chaos surrounding EVs, solar, and everything else in Washington, we’re back with the biggest EV news stories of the day from Tesla, Ford, Volvo, and everyone else on today’s hiatus-busting episode of Quick Charge!

It just gets worse and worse for the Tesla true believers – especially those willing to put their money where Elon’s mouth is! One believer is set to lose nearly $50,000 betting on Tesla’s ability to deliver a Robotaxi service by the end of June (didn’t happen), and the controversial CEO’s most recent spat with President Trump had TSLA down nearly 5% in pre-morning trading.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

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Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.


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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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Hyundai is about to reveal a new EV and it could be the affordable IONIQ 2

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Hyundai is about to reveal a new EV and it could be the affordable IONIQ 2

Hyundai is getting ready to shake things up. A new electric crossover SUV, likely the Hyundai IONIQ 2, is set to debut in the coming months. It will sit below the Kona Electric as Hyundai expands its entry-level EV lineup.

Is Hyundai launching the IONIQ 2 in 2026?

After launching the Inster late last year, Hyundai is already preparing to introduce a new entry-level EV in Europe.

Xavier Martinet, President and CEO of Hyundai Europe, confirmed that the new EV will be revealed “in the next few months.” It will be built in Europe and scheduled to go on sale in mid-2026.

Hyundai’s new electric crossover is expected to be a twin to the Kia EV2, which will likely arrive just ahead of it next year.

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It will be underpinned by the same E-GMP platform, which powers all IONIQ and Kia EV models (EV3, EV4, EV5, EV6, and EV9).

Like the Kia EV3, it will likely be available with either a 58.3 kWh or 81.4 kWh battery pack option. The former provides a WLTP range of 267 miles while the latter is rated with up to 372 miles. All trims are powered by a single electric motor at the front, producing 201 hp and 209 lb-ft of torque.

Kia-EV2
Kia EV2 Concept (Source: Kia)

Although it may share the same underpinnings as the EV2, Hyundai’s new entry-level EV will feature an advanced new software and infotainment system.

According to Autocar, the interior will represent a “step change” in terms of usability and features. The new system enables new functions, such as ambient lighting and sounds that adjust depending on the drive mode.

Hyundai-IONIQ-2-EV
Hyundai E&E tech platform powered by Pleos (Source: Hyundai)

It’s expected to showcase Hyundai’s powerful new Pleos software and infotainment system. As an end-to-end software platform, Pleos connects everything from the infotainment system (Pleos Connect) to the Vehicle Operating System (OS) and the cloud.

Pleos is set to power Hyundai’s upcoming software-defined vehicles (SDVs) with new features like autonomous driving and real-time data analysis.

Hyundai-new-Pleos-OS
Hyundai’s next-gen infotainment system powered by Pleos (Source: Hyundai)

As an Android-based system, Pleos Connect features a “smartphone-like UI” with new functions including multi-window viewing and an AI voice assistant.

The new electric crossover is expected to start at around €30,000 ($35,400), or slightly less than the Kia EV3, priced from €35,990 ($42,500). It will sit between the Inster and Kona Electric in Hyundai’s lineup.

Hyundai said that it would launch the first EV with its next-gen infotainment system in Q2 2026. Will it be the IONIQ 2? Hyundai is expected to unveil the new entry-level EV at IAA Mobility in September. Stay tuned for more info. We’ll keep you updated with the latest.

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