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The secretary general of oil producer group OPEC has said the COP26 climate summit in Glasgow was “definitely a wake-up call.”

Speaking to CNBC at the ADIPEC energy industry forum in Abu Dhabi, Mohammad Barkindo was asked if the deal eventually reached in Glasgow — which included a late compromise on language related to coal — was a success.

“I wouldn’t call it a failure,” Barkindo told Dan Murphy. “I think the U.K. presidency did an extremely good job in bringing back Paris on track in Glasgow.”

“It’s not a mean achievement to rebuild the consensus of Paris in Glasgow if you follow the fractures we saw after the withdrawal of the United States,” he added.

The Paris Agreement, adopted in 2015, aims to “limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels.”

The task is huge, and the United Nations has noted that 1.5 degrees Celsius is considered to be “the upper limit” when it comes to avoiding the worst consequences from climate change.

The COP26 deal sought to build on this and prevent the worst effects of climate change, although it faced stumbling blocks related to the phasing out of coal, fossil fuel subsidies and financial support to low-income countries.

India and China, both among the world’s biggest burners of coal, insisted on a last-minute change of fossil fuel language in the pact — from a “phase out” of coal to a “phase down.” After initial objections, opposing countries ultimately conceded.

For his part, Barkindo was broadly positive about the outcome. “I think John Kerry and his team together with [Alok] Sharma, the president of COP26, did a marvelous job in rebuilding that consensus that was fractured after Paris,” he said.

“Because without that consensus, it would have been impossible to get the Glasgow climate pact.”

Looking forward, Barkindo was firm in his belief that fossil fuels would be important in the years ahead.

“There is no doubt, there’s no contest on this scientific fact that oil and gas will continue to play a prominent role in the global energy mix for the foreseeable future,” he said.

His comments echoed those of BP CEO Bernard Looney, who told CNBC on Monday: “It may not be popular to say that oil and gas is going to be in the energy system for decades to come but that is the reality.”

Oil industry

When it comes to the oil industry more broadly, Barkindo stressed that it had been hit by both low prices and falling investment for a number of years.

“We have not recovered from the 2014-2016 slump, where we saw for two consecutive years nearly 25% or so annual contraction [in investment], and then Covid came last year with about 30% contraction in the industry,” he said.

“With all the challenges of accessing capital, the industry needs to wake up … and face reality.”

This reality would appear to be one increasingly hostile to fossil fuels. In a speech at COP26, for example, the U.N. Secretary General Antonio Guterres left the world in no doubt as to his views on the matter.

“Our addiction to fossil fuels is pushing humanity to the brink,” he said. “We face a stark choice — either we stop it, or it stops us.”

Guterres added that it is time to say “enough.”

“Enough of brutalizing biodiversity, enough of killing ourselves with carbon, enough of treating nature like a toilet,” he said. “Enough of burning and drilling and mining our way deeper. We are digging our own graves.”

CNBC’s Matt Clinch and Sam Meredith contributed to this report.

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Hyundai cuts 2025 IONIQ 5 lease prices to just $179 per month

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Hyundai cuts 2025 IONIQ 5 lease prices to just 9 per month

Hyundai’s electric SUV is more affordable than ever. After cutting lease prices again this month, you can lease the new 2025 Hyundai IONIQ 5, which now features a longer range and a Tesla NACS charging port, for just $179 per month.

Hyundai cuts 2025 IONIQ 5 lease prices again in June

The 2025 Hyundai IONIQ 5 is better in every way possible compared to the outgoing model. It now boasts up to 318 miles of driving range, sleek new styling both inside and out, and an NACS port, allowing you to charge at Tesla Superchargers.

Hyundai’s electric SUV remains a top seller in the US with nearly 16,000 models sold through May. After cutting lease prices again in June, Hyundai looks to draw in even more buyers.

The 2025 Hyundai IONIQ 5 SE Standard Range RWD is now listed at just $179 for 24 months with $3,999 due at signing. That’s a notable difference from May.

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Last month, IONIQ 5 lease prices started at $209 a month. Although that was considered one of the best EV deals, the new rate will save you $30 a month.

Hyundai-2025-IONIQ-5-lease
2025 Hyundai IONIQ 5 Limited (Source: Hyundai)

The SE Standard Range trim starts at $43,975, with a driving range of up to 245 miles. However, the extended range SE model may be an even better deal. You can upgrade to the longer-range SE trim, which has up to 318 miles of range, for just $199 a month.

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2025 Hyundai IONIQ 5 Limited interior (Source: Hyundai)

You can even lease the off-road XRT variant for $299 a month right now. Hyundai’s offers end on July 7 and include the $7,500 federal EV tax credit.

2025 Hyundai IONIQ 5 Trim EV Powertrain Driving Range (miles) Starting Price*  Monthly lease price June 2025
IONIQ 5 SE RWD Standard Range 168-horsepower rear motor 245 $42,500 $179
IONIQ 5 SE RWD 225-horsepower rear motor 318 $46,550 $199
IONIQ 5 SEL RWD 225-horsepower rear motor 318 $49,500 $209
IONIQ 5 Limited RWD 225-horsepower rear motor 318 $54,200 $309
IONIQ 5 SE Dual Motor AWD 320-horsepower dual motor 290 $50,050 $249
IONIQ 5 SEL Dual Motor AWD 320-horsepower dual motor 290 $53,000 $259
IONIQ 5 XRT Dual Motor  AWD 320 horsepower dual motor 259 $55,400 $359
IONIQ 5 Limited Dual Motor AWD 320-horsepower dual motor 269 $58,100 $299
2025 Hyundai IONIQ 5 prices and range by trim (*includes $1,475 destination fee)

As an added bonus, Hyundai is still offering a free ChargePoint Level 2 home charger with the purchase or lease of a new 2025 IONIQ 5. If you already have one, you can opt for a $400 public charging credit.

With Trump’s “One Big Beautiful Bill” calling to end federal EV incentives, including the $7,500 tax credit, many of these savings will soon dry up.

Want to check out Hyundai’s electric SUV for yourself? With leases as low as $179 per month, it’s hard to pass up right now. You can use our link to find deals on the 2025 Hyundai IONIQ 5 in your area (trusted affiliate link).

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Pipeline giant Enbridge just lit up its first Texas solar farm

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Pipeline giant Enbridge just lit up its first Texas solar farm

Canadian oil and gas pipeline giant Enbridge just launched its first solar farm in Texas, adding more clean energy to its “all-of-the-above” energy mix, mainly fossil fuels.

Enbridge’s Orange Grove Solar project in Jim Wells County now sends up to 130 megawatts (MW) of clean electricity to the Texas ERCOT grid. That’s enough to power around 24,000 homes. Roughly 300,000 solar panels stretch across 920 acres.

AT&T has signed a long-term virtual power purchase agreement for all the output from Orange Grove. That deal helps AT&T reduce its carbon footprint and stabilize long-term energy costs.

“We are pleased to be able to deliver additional zero-emission electricity into the grid in support of local and Texas state-wide economic growth and energy demand,” said Matthew Akman, Enbridge’s EVP of corporate strategy and president of its power business.

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This isn’t Enbridge’s first dip into renewables: it bought its first wind farm in 2002, and it says its renewable assets are part of its plan to achieve net zero by 2050.

But Enbridge is still ultimately best known for its oil and gas pipelines – and its troubled environmental history. In 1991, the company was responsible for the largest inland oil spill in the US, in Minnesota. It’s faced criticism for other spills and environmental risks tied to its pipeline network, which is the longest across North America and the largest oil export pipeline network in the world.

Enbridge is building a second, much larger solar farm southeast of Abilene in Callahan County. Called the Sequoia Solar project, it’s expected to generate 815 MW of power – more than six times the size of Orange Grove – making it one of the biggest solar farms in North America once it’s complete.

Both projects are part of Enbridge’s growing push into clean power, especially in Texas, where demand for electricity in the ERCOT market keeps climbing. It’s a notable shift for a company still deeply rooted in fossil fuels without plans to abandon them. But it’s now tapping into the sun as part of its evolving energy portfolio.

Akman continued, “Enbridge is proud to operate a wide range of critical energy infrastructure across the Gulf Coast area, including liquids pipelines and export facilities, natural gas pipelines and storage, as well as wind and now solar power.”

Read more: Texas just shot its wind + solar boom in the foot on purpose [Update]


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Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

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The Kia EV4 actually looks pretty sharp in real life [Video]

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The Kia EV4 actually looks pretty sharp in real life [Video]

Kia’s new entry-level EV was spotted driving in the US with its official launch just around the corner. The EV4 is Kia’s first electric sedan, and in real life, it looks even better.

Kia EV4 spotted in real life on US streets

We’ve been waiting since Kia’s first annual EV day in 2023, when we first saw the concept for the electric sedan, to finally arrive. The EV4 is part of the brand’s new lineup of entry-level electric vehicles, alongside the EV2, EV3, and EV5.

After opening EV4 pre-orders in Korea earlier this year, Kia is preparing to launch it globally. The electric car starts at about $30,000 (41.92 million won) in its home market.

Similar to Korea, the EV4 will be offered in the US with two battery options: 58.3 kWh and 81.4 kWh. The entry-level “Light” trim will come with a standard 58.3 kWh battery, which Kia estimates will provide a range of 235 miles.

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The Wind and GT-Line trims will be available with the long-range 81.4 kWh battery, providing up to 330 miles of range.

Kia-EV4-real-life
2026 Kia EV4 (Source: Kia)

Kia says the EV4’s sports car-like design contributed to its impressive driving range. With a drag coefficient of just 0.23, the EV4 is Kia’s most aerodynamic vehicle yet.

It will also come with a built-in NACS port on the front passenger side for charging at Tesla Superchargers. With DC fast charging, the EV4 can recharge from 10% to 80% in about 29 minutes (Light battery). The long-range (81.4 kWh) battery will take around 31 minutes.

Kia-EV4-real-life
2026 Kia EV4 electric sedan (Source: Kia)

The EV4 was recently spotted driving in the US ahead of its official launch, giving us a better idea of what Kia’s electric sedan looks like in real life.

The video, courtesy of KindelAuto, shows the EV4 with Michigan plates on public roads. You can see it’s not your average four-door sedan. Kia calls it an “entirely new type of EV sedan” with a wide, low stance.

2026 Kia EV6 spotted driving in the US ahead of upcoming launch (Source: KindelAuto)

Kia’s new “EV Tiger Face” design is showcased up front, featuring vertical headlights and its signature Star Map lighting.

The interior will feature nearly 30″ of screen space as part of Kia’s new connected car Navigation Cockpit (ccNC) infotainment system.

kia-ev4-interior
Kia EV4 GT-Line interior (Source: Kia)

The setup includes dual 12.3″ driver display and navigation screens, plus a 5″ climate screen. It also offers wireless Apple CarPlay and Android Auto support.

Kia will launch the EV4 in Europe later this year and in the US in early 2026. We will learn prices closer to when it arrives, but Kia’s electric sedan is expected to start at around $35,000 to $40,000.

We also got a look at the upcoming EV4 GT this week, after it was spotted outside Kia and Hyundai’s facility in Korea.

What do you think about Kia’s first electric sedan? Would you buy one for around $35,000? Let us know in the comments.

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