Reviewing Five Energy Predictions From 2022

At the beginning of each year, I make several predictions about the energy sector. You can see those predictions and read the context for my Energy Sector Predictions For 2022. There are still a few days left in 2022, but I believe there is enough available information to gauge the accuracy of these predictions. As always, I provided predictions that were specific and measurable. Following each prediction, I discuss what actually happened in 2022, and conclude whether the prediction was right or wrong. The average price of WTI in 2022 will be between

Read more at: https://oilprice.com/Energy/Energy-General/Reviewing-Five-Energy-Predictions-From-2022.html

Chevron Sending Tanker To Venezuela To Load Oil

U.S. oil company Chevron has a tanker on the way to sanctioned Venezuela, where it will pick up a load of crude oil destined for the United States. The crude cargo will be the first Venezuelan crude oil shipment to arrive in the United States in almost four years, according to a Reuters source. Chevron is also sending another tanker to Venezuela this time set for delivery. The container is carrying much-needed diluents that will be mixed with Venezuela’s heavy crude. It will arrive in Venezuela in early January, the anonymous sources

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Chevron-Sending-Tanker-To-Venezuela-To-Load-Oil.html

U.S. Oil, Gas Rigs Up 193 This Year

There was no change to the number of total active drilling rigs in the United States this week, according to new data from Baker Hughes published on Fridayit is the final count of the year. The total rig count stayed at 779 this week193 rigs higher than the rig count this time in 2021, and 296 rigs lower than the rig count at the beginning of 2019, prior to the pandemic. Oil rigs in the United States fell by 1 this week, to 621. Gas rigs rose by 1, to 156. Miscellaneous rigs stayed the same at 2. The rig count in the Permian Basin

Read more at: https://oilprice.com/Energy/Energy-General/US-Oil-Gas-Rigs-Up-193-This-Year.html

Is There A Future For Bio-Based Batteries?

As a new year comes around, there has been a resurgence in focus on innovative, low-carbon technologies that may support the transition to green in the coming years. In addition to human urine as fertilizer and genetically engineered, nitrogen-absorbing plants, one product with major potential is the biobattery. Energy firms and governments worldwide are pumping billions into new lithium operations, in a bid to mine enough of the mineral to power electric batteries needed for electronic devices and electric vehicles (EVs) around the globe, with

Read more at: https://oilprice.com/Energy/Energy-General/Is-There-A-Future-For-Bio-Based-Batteries.html

Russia To Export Large Volumes Of Diesel Before EU Sanctions

Russia plans to increase its diesel exports next month before European Union sanctions on crude oil start in February. Fuel shipments from Russias ports in the Baltic and Black Sea are set to increase to 2.68 million tonnes in January, good for an 8% month-on-month increase from Decembers volume and the highest export rate since January 2020. The European Union will ban Russian oil product imports by Feb. 5. This follows a ban on Russian crude that took effect in December. Exports of Russias flagship Urals crude blend

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-To-Export-Large-Volumes-Of-Diesel-Before-EU-Sanctions.html

Putin: Russia Is Now One Of Chinas Leading Oil & Gas Suppliers

Russian President Vladimir Putin has said that Russia has become one of Chinas leading suppliers of oil and gas, with 13.8 billion cubic meters of gas shipped to China in the first 11 months of 2022. Russia has now overtaken Saudi Arabia as Chinas top crude supplier thanks to the availability of Russian Urals at huge discounts. Russia is Chinas second-largest supplier of pipeline gas and fourth-largest of liquefied natural gas (LNG), with December shipments 18% above daily contractual obligations. Ten days ago, Putin inaugurated

Read more at: https://oilprice.com/Energy/Natural-Gas/Putin-Russia-Is-Now-One-Of-Chinas-Leading-Oil-Gas-Suppliers.html

Southwest Airlines says holiday meltdown will ‘certainly’ hit fourth-quarter results

Southwest Airlines’ holiday meltdown will hit “certainly” hit its fourth-quarter results, an executive said Thursday.

Read more at: https://www.cnbc.com/2022/12/29/southwest-airlines-flight-cancellations.html

Pelé, Brazilian soccer star and the only player to win the World Cup three times, dies at age 82

Brazilian soccer icon Pelé has died at age 82, his daughter announced.

Read more at: https://www.cnbc.com/2022/12/29/pel-brazilian-soccer-star-dies-at-age-82.html

2022 was tough for media stocks like Netflix and Disney, and 2023 doesn’t look good, either

Netflix, Disney, Paramount and others lost billions in market value in 2022 as streaming subscriber growth slowed and the ad market tightened.

Read more at: https://www.cnbc.com/2022/12/29/netflix-disney-media-stocks-bad-year.html

Why restaurant chains are investing in robots and what it means for workers

Restaurant chains experimented with automation this year as the labor crunch pressured their profits.

Read more at: https://www.cnbc.com/2022/12/27/restaurant-chains-are-investing-in-robots-bringing-change-for-workers.html

‘Avatar: The Way of Water’ makes $1 billion in 14 days, even with Covid weighing on China

Worldwide ticket sales for Disney and James Cameron’s “Avatar: The Way of Water” have topped $1 billion.

Read more at: https://www.cnbc.com/2022/12/28/avatar-sequel-box-office-tops-1-billion-despite-covid-in-china.html

Non-alcoholic beer to continue growing in 2023, Athletic Brewing Company CEO says

Non-alcoholic beer has quickly grown as bigger beer giants like AB InBev and Heineken launch new products as well as the rise of brewers like Athletic Brewing.

Read more at: https://www.cnbc.com/2022/12/30/non-alcoholic-beer-set-to-continue-to-grow-in-2023.html

EPA issues clean water rule that repeals Trump administration changes

The EPA has issued a rule that defines which types of waterways in the U.S. will receive federal water quality protections under the 1972 Clean Water Act.

Read more at: https://www.cnbc.com/2022/12/30/epa-issues-clean-water-rule-that-repeals-trump-administration-changes.html

Cramer’s final thoughts for the year: Making sense of multiples amid a looming recession

The price-to-earnings multiples say recession. But the multiples said similar things in 2022. So how long can the multiples stay this low?

Read more at: https://www.cnbc.com/2022/12/30/cramers-final-thoughts-for-the-year-making-sense-of-multiples-.html

Here’s how to know if your company’s layoff policy is a ‘good’ one

As layoffs spread, here’s what to know about severance, health insurance and other benefits that distinguish a fair job separation offer from an unfair one.

Read more at: https://www.cnbc.com/2022/12/30/heres-how-to-know-if-your-companys-layoff-policy-is-a-good-one.html

The U.S. passed a historic climate deal this year — here’s a recap of what’s in the bill

Take a look back at the key elements in the historic Inflation Reduction Act that climate and clean energy advocates will be watching closely in 2023.

Read more at: https://www.cnbc.com/2022/12/30/2022-climate-recap-whats-in-the-historic-inflation-reduction-act.html

Stocks making the biggest moves premarket: Shaw Communications, Li Auto, Southwest and others

These are the stocks posting the largest moves before the bell.

Read more at: https://www.cnbc.com/2022/12/30/stocks-making-the-biggest-moves-premarket-shaw-communications-li-auto-southwest-and-others.html

5 things to know before the stock market opens Friday

Here are the most important news items that investors need to start their trading day.

Read more at: https://www.cnbc.com/2022/12/30/5-things-to-know-before-the-stock-market-opens-friday-december-30.html

The gourmet food scene in the UAE is taking on the likes of Paris, New York and London

While the economic outlook for much of the world is predicted to be rocky over 2023, in the Gulf there’s a buoyant mood.

Read more at: https://www.cnbc.com/2022/12/30/dubai-gourmet-food-in-uae-is-taking-on-paris-new-york-and-london.html

22 Changes In 2022: Crypto Year In Review

Via Thanefield Capital,

We’ve done our best to put together 22 points that we think tell the story of this year in crypto.

Everything shown is as of December 26th or December 27th.

Without further ado, Thanefield Capital’s 22 Changes in 2022.

1. Total crypto and stablecoins market cap2021: +$162mn per hour

2022: -$164m per hour

Almost exactly, 2022 undid every dollar crypto and stablecoins added in 2021. Year over year market cap destruction first flashed in Q1 and was tagging $2tn by November. We’d love to see a more standardized measurement of total crypto value (addressing problems like FDV and liquidity) gain popularity, but this is the headline number.

2. Bitcoin and Ethereum futures open interestRead more at: https://www.zerohedge.com/crypto/22-changes-2022-crypto-year-review

Pledging Deepened Military Ties With Putin, Xi To Visit Russia In Spring Against Backdrop Of War

Russian President Vladimir Putin in a Friday virtual meeting with his Chinese counterpart Xi Jinping hailed Russia-China ties as at their “best in history” and the strategic partnership between the two countries a “stabilizing factor” amid broader geopolitical tensions with the West. Putin vowed to his “dear friend” Xi to strengthen military cooperation with China, while Xi reciprocated by saying Beijing stands ready to expand ties.

“In the context of soaring geopolitical tensions, the importance of the Russian-Chinese strategic partnership as a stabilizing force is growing,” Putin emphasized, saying relations will continue to expand “dynamically” from this point on.

The Chinese leader in response said: “Under our joint leadership, the Chinese-Russian comprehensive partnership and strategic interaction in the new era demonstrates… resistance to stress [or difficulties],” according to a Russian state media readout.

Read more at: https://www.zerohedge.com/markets/xi-putin-pledge-deepened-military-ties-chinese-leader-visit-russia-spring

Housing Supply Jumps Most On Record As Market Freezes

A downturn in the residential real estate market could be nearing, Kieran Clancy, a senior US economist at Pantheon Macroeconomics, recently warned. The potential for a major price decline has been on our radar in recent quarters as elevated mortgage rates and record-high prices create an unfavorable environment for buyers.

The only reason housing prices have yet to plummet is because of the lack of housing inventory. That’s the primary difference between the current market and the market during the 2008 housing crash.

For now, we keep our eyes peeled for the changing dynamics in supply/demand. A new Redfin report might be the first sign inventory is increasing.

For the four weeks ending Dec. 25, the total number of homes for sale jumped 18% compared to the same period a year ago. Redfin said this was a record year-over-year increase, adding homes are lingering on the market longer.

“Inventory is up even though new listings are down by double digits because homes are taking a long time to sell amid 6%-plus mortgage rates (the average 30-year rate ticked up to 6.42% this week), economic uncertainty and the typically slow holiday season,” the report said.

The residential real estate market is freezing as homes on the market now take 40 days to go under contract, more than double from a record low of 18 days in May and the slowest pace since January 2021.

A jump in supply is …

Read more at: https://www.zerohedge.com/markets/housing-supply-jumps-most-record-market-freezes

Oil Should Lure Bulls Back in 2023

By Grant Smith and Mark Cudmore, Bloomberg markets live reports and strategists

Oil prices may have surrendered the bulk of this year’s gains, but the conditions are right to lure back bulls in the new year.

Brent crude futures are set to end 2022 with a modest increase of 7% — a mere fraction of the $60-a-barrel gain they had racked up in the spring, when alarm over the war in Ukraine was at its peak. Faltering fuel demand, fears over a US recession and China’s Covid resurgence have all helped to dissolve the rally.

Nonetheless, there are plenty of reasons why oil is poised for a renewed surge next year.

On the demand side, the coldest part of winter has yet to bite and should stoke the need for heating fuels in the first months of 2023. Later in the year, China’s re-opening may have gathered strength, bringing more cars onto the road and planes in the air. Hedge fund star Pierre Andurand estimates that demand g …

Read more at: https://www.zerohedge.com/commodities/oil-should-lure-bulls-back-2023

Buses: More cuts to services to come, operators warn

Campaigners say a temporary £2 maximum fare will not stem a fall in passengers, amid service cuts.

Read more at: https://www.bbc.co.uk/news/business-64117338?at_medium=RSS&at_campaign=KARANGA

The long journey to getting Trump’s taxes released

The former president had long sought to keep his records from being seen by the public.

Read more at: https://www.bbc.co.uk/news/world-us-canada-64122250?at_medium=RSS&at_campaign=KARANGA

York records strongest house price rises in 2022

Prices in the historic North Yorkshire city surged by 23.1%, or £69,648, the Halifax bank finds.

Read more at: https://www.bbc.co.uk/news/uk-england-york-north-yorkshire-64125261?at_medium=RSS&at_campaign=KARANGA

Do not be a Rambo thinking your stocks will go up even if the markets fall: Basant Maheshwari

“We have been holding IT for the last several months. They have not been moving up and down. In IT, it is all about the Nasdaq. If the Nasdaq bottoms, IT will bottom; if the Nasdaq does not bottom, IT will again struggle. The Nasdaq is all about interest rates. If the Fed comes and stops the interest rate hikes, they will do well.”

Read more at: https://economictimes.indiatimes.com/markets/expert-view/do-not-be-a-rambo-thinking-your-stocks-will-go-up-even-if-the-markets-fall-basant-maheshwari/articleshow/96615259.cms

Indian rupee ends 2022 as worst-performing Asian currency

Heading into 2023, market participants believe the rupee would trade with an appreciation bias, finding relief from easing commodity prices and hopeful of foreign investors continuing to buy Indian equities.

Read more at: https://economictimes.indiatimes.com/markets/forex/indian-rupee-ends-2022-as-worst-performing-asian-currency/articleshow/96621801.cms

Bond Report: Treasury yields post record rise in worst year ‘within any of our lifetimes’ for bond investors

Treasury yields edge higher in a holiday-shortened session Friday, capping a brutal, record-breaking bond market selloff in 2022.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7173-523F8F367392%7D&siteid=rss&rss=1

Metals Stocks: Gold ends 2022 near 6-month high

Gold futures end near unchanged Friday, near a six-month high but nearly flat on the year.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7173-556048EE86E9%7D&siteid=rss&rss=1

Market Snapshot: Dow drops more than 300 points with U.S. stocks on track for worst year since 2008

U.S. stocks trade lower Friday afternoon, on track for their worst annual losses since 2008, as tax-loss harvesting along with anxieties about the outlook for corporate profits and the U.S. consumer took their toll.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7173-47A94FE11E19%7D&siteid=rss&rss=1