Is The UK Investing Enough In Onshore Wind Capacity?

Onshore wind developments have dropped sharply since 2016 when former Prime Minister David Cameron pushed through new restrictions – which meant wind farm developers had to show that proposed projects are located in an area designated for renewable energy in a local plan, and that they had unanimous support. However, former cabinet minister and Conservative MP Simon Clarke secured a rare, key victory against NIMBYism two months ago. Clarke tabled an amendment in December calling for onshore wind planning rules to be liberalized as part of the…

Read more at: https://oilprice.com/Alternative-Energy/Renewable-Energy/Is-The-UK-Investing-Enough-In-Onshore-Wind-Capacity.html

Russia To Sell Most Of Its Oil To “Friendly” Countries: Novak

Russia’s Deputy Prime Minister Alexander Novak announced the country’s plans to sell more than 80% of its crude oil exports to “friendly” countries this year. These “friendly” countries include countries such as China and India, which haven’t participated in product bans, sanctions against Russia, and oil and oil product price capping—as well as Sri Lanka, which is in the throes of an economic crisis. While India has been criticized for its Russian crude purchases, it has maintained that it must make…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-To-Sell-Most-Of-Its-Oil-To-Friendly-Countries-Novak.html

Markets ‘Unshaken’ By Russian Output Threat

As Russia’s March 500,000 bpd output cut nears, data from Bloomberg shows that Russia’s seaborne crude exports have already fallen to a six-week low, but the markets remain relatively unperturbed. While suffering a 2% drop early on Monday, oil prices have since moderated, with the UAE saying the markets are “unshaken”. Brent crude was still trading down a slight 0.38% on Monday afternoon EST, at over $86 per barrel, with WTI just under $80.  If anything, markets responded on Monday more to pending U.S. inflation data than to…

Read more at: https://oilprice.com/Energy/Crude-Oil/Markets-Unshaken-By-Russian-Output-Threat.html

Economic Challenges Mount For UK Steel

Via AG Metal Miner   Steel news continues to cover the announcement that UK steel producer and distributor Aartee Bright Bar (ABB) has gone into administration. The move came after ABB’s commercial financier, FGI, decided to enforce its debts against the company. According to a February 7 report from Sky News, the West Midlands-based business appointed New York-headquartered Alvarez & Marsal as administrators. Administration in the United Kingdom is similar to Chapter 11 of the United States Bankruptcy Code. It generally occurs whenever…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Economic-Challenges-Mount-For-UK-Steel.html

More Than Half Of Europe’s Electricity Comes From Clean Energy Sources

Energy and electricity supply has become vital for nearly every European nation over the past year, as the region shifts away from its dependence on Russian fuel imports. While many countries have been making progress in their energy transition away from fossil fuels, nearly half of the European countries are still dependent on them as their primary source of electricity generation. In the graphic below, Visual Capitalist Niccolo Conte maps out European countries by their top source of electricity generation using data from Electricity Maps and the…

Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/More-Than-Half-Of-Europes-Electricity-Comes-From-Clean-Energy-Sources.html

Britain’s Pubs Are At A Breaking Point As Energy Costs Rise

Britain’s pubs are at “breaking point,” hospitality chiefs have warned after new figures reveal that the number of pub and bar insolvencies has risen 83 percent in the last year.  According to data published by accountancy firm UHY Hacker Young, some 512 pub and bar companies went bust in 2022, up from 280 the previous year – with the firm citing inflation and rising energy bills as the key reasons for closures. Kate Nicholls, chief executive of UKHospitality, told City A.M. that the scale of insolvencies is unfortunately…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Britains-Pubs-Are-At-A-Breaking-Point-As-Energy-Costs-Rise.html

Can Russia Afford To Keep Funding Its Space Program?

By 2023, Russia’s budgetary planning for civilian and military space programs was presumed to have changed compared with previous years due to the breakdown in space cooperation with the United States and Europe (with the exception of the International Space Station); the failures of Russia’s military space assets during Moscow’s invasion of Ukraine; and the economic troubles of the space corporation Roscosmos, suffering from sanctions and low economic efficiency. For instance, the corporation received 31 billion rubles ($421…

Read more at: https://oilprice.com/Geopolitics/International/Can-Russia-Afford-To-Keep-Funding-Its-Space-Program.html

Europe Has Spent €792 Billion To Shield Citizens From Energy Crisis

European countries have forked out over £700bn (€792bn) to shield businesses and households from soaring gas prices since the start of the energy crisis, according to the latest research from Bruegel. The think tank has calculated that since September 2021, the EU has now earmarked or spent €681bn in energy crisis spending, while the UK has allocated €103bn and Norway just over €8bn. Germany was by far the biggest spender, splashing out nearly €270bn since September 2021. The figures mark a sharp increase since the…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Europe-Has-Spent-792-Billion-To-Shield-Citizens-From-Energy-Crisis.html

Europe’s Gas Prices Drop To The Lowest Level Since September 2021

Milder weather, the end of a supply outage in Norway, and expectations of stronger winds in northwest Europe sent on Monday European benchmark natural gas prices down by 4% to the lowest level since September 2021. Europe is more confident that there will be no gas shortages until the end of this winter, while the Freeport LNG export facility in the United States sent out the first shipment from storage since a fire halted exports in June 2022. These factors also dragged the TTF price, Europe’s benchmark, down by 4% to $54.50 (51 euros) per…

Read more at: https://oilprice.com/Energy/Gas-Prices/Europes-Gas-Prices-Drop-To-The-Lowest-Level-Since-September-2021.html

China Set To Sign Another Massive LNG Deal With Qatar

China National Petroleum Corporation (CNPC), the largest gas importer in the country, is in the late stages of finalizing a huge long-term LNG import deal with Qatar, sources familiar with the matter told Reuters on Monday. This would be a second such massive agreement of a Chinese energy giant with QatarEnergy in just a few months.   “CNPC has agreed on the major terms with Qatar in a deal that will be very similar to Sinopec’s,” a Beijing-based state energy official told Reuters. In November, Qatar’s state firm QatarEnergy signed the longest-term…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/China-Set-To-Sign-Another-Massive-LNG-Deal-With-Qatar.html

Azeri Crude Flows From Ceyhan Oil Port Resume After Devastating Earthquake

The first tanker loaded with Azeri crude left on Monday the Turkish port of Ceyhan, a week after the devastating earthquake in Turkey and Syria halted operations at the Ceyhan terminals. The crude oil tanker Nordlotus departed from Ceyhan early on Monday local time and is en route to Genoa, Italy, according to data from MarineTraffic. The tanker is loaded with Azerbaijan’s crude, which hasn’t been exported from Ceyhan since the earthquake on February 6, Reuters reported today, citing a trade source and vessel-tracking data. Another…

Read more at: https://oilprice.com/Energy/Crude-Oil/Azeri-Crude-Flows-From-Ceyhan-Oil-Port-Resume-After-Devastating-Earthquake.html

Russia Ramps Up Attacks On Ukraine’s Energy Infrastructure

Ukrainian President Volodymyr Zelenskiy has warned of the possibility of “new terrorist attacks” by Russian forces following Russia’s recent strikes targeting energy infrastructure around the country. Speaking during his nightly address to the nation on February 12, Zelenskiy said power workers had repaired much of the damage caused by Russian drone and missile strikes on February 10. However, he added: “This is not yet a decisive victory on the energy front. Unfortunately, there may be new terrorist attacks from Russia” that could leave people…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Ramps-Up-Attacks-On-Ukraines-Energy-Infrastructure.html

Will Electric Vehicles Continue To Thrive Without Subsidies?

Sales in Germany plunged after subsidies were reduced… Think Twice About Electric Vehicles The Wall Street Journal reports Germans Think Twice About Electric Vehicles Sales of fully electric vehicles (EVs) fell 13.2% in January compared to January 2022, Germany’s Motor Transport Authority reports. Sales of hybrids declined 6.2%. This compares to an increase of 3.5% in the number of new gasoline-powered cars sold and a modest decline of 1.2% for diesel. The main explanation is the end of Berlin’s subsidies for EVs and hybrids at the…

Read more at: https://oilprice.com/Energy/Energy-General/Will-Electric-Vehicles-Continue-To-Thrive-Without-Subsidies.html

Saudi Aramco: Biased ESG Policies Will Undermine Energy Security

Environmental, Social, and Governance (ESG) investment, if outright biased against the oil and gas industry, is a threat to energy affordability and energy security, the chief executive of the world’s largest oil firm, Saudi Aramco, said this weekend. “As far as the future of capital markets is concerned, ESG is clearly a rising trend. And in my view, an increased emphasis on ESG is a move in the right direction,” the Saudi oil giant’s president and CEO Amin Nasser said at the Saudi Capital Markets Forum 2023 on Sunday.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Saudi-Aramco-Biased-ESG-Policies-Will-Undermine-Energy-Security.html

Toyota’s Incoming CEO Vows To Accelerate EV Rollout

Toyota will accelerate the development of electric vehicles, the car-manufacturing giant’s incoming president and chief executive Koji Sato said on Monday, despite a report suggesting that EVs could find themselves in a targeted position along with their ICE vehicle peers on climate grounds. In an announcement of new executive roles as of April 1, the world’s largest carmaker said that electrification would be one of three pillars for Toyota’s transformation into a “mobility company,” alongside intelligence and diversification.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Toyotas-Incoming-CEO-Vows-To-Accelerate-EV-Rollout.html

Inflation report due Tuesday has the potential to deliver some bad news

All market eyes Tuesday will be on the release of the Labor Department’s consumer price index.

Read more at: https://www.cnbc.com/2023/02/13/inflation-report-due-tuesday-has-the-potential-to-deliver-some-bad-news.html

Ford to move forward with $3.5 billion EV battery plant with Chinese company

Ford will own the new facility through a wholly owned subsidiary instead of operating it as a joint venture, which Ford has done with non-China partners.

Read more at: https://www.cnbc.com/2023/02/13/ford-ev-battery-plant-china-catl.html

Stocks close higher, Dow pops 300 points ahead of Tuesday’s inflation report: Live updates

Stocks rose Monday as investors look ahead to a key inflation report due Tuesday.

Read more at: https://www.cnbc.com/2023/02/12/stock-market-today-live-updates.html

Lidar makers Ouster and Velodyne complete their merger, creating a sector powerhouse

The merger creates a lidar powerhouse with more than 850 customers and about $315 million in cash on hand.

Read more at: https://www.cnbc.com/2023/02/13/lidar-makers-ouster-velodyne-merger.html

These 10 quality stocks are cheap and set to beat the market, Bernstein says

Bernstein compiled a list of quality stocks that are trading at a “reasonable price.”

Read more at: https://www.cnbc.com/2023/02/13/these-10-cheap-quality-stocks-may-beat-the-market-bernstein-says.html

White House defends shooting down three aerial objects, despite not knowing who launched them or why

The White House on Monday said it doesn’t yet know what the aerial objects they shot down this weekend are, who owns them or what they were doing.

Read more at: https://www.cnbc.com/2023/02/13/white-house-defends-shooting-down-three-aerial-objects-despite-not-knowing-who-launched-them-or-why.html

Amazon’s Zoox robotaxi now giving rides to employees on public roads in California

For now, the tests are limited to employees at Zoox’s Foster City, California, headquarters.

Read more at: https://www.cnbc.com/2023/02/13/zoox-robotaxi-now-giving-rides-to-employees-on-california-public-roads.html

Monday’s rally raises the stakes ahead of inflation data release — listen to the ‘Homestretch’

Director of Portfolio Analysis Jeff Marks breaks down Monday’s market action and looks ahead to Tuesday morning’s Consumer Price Index report. He also discusses the intraday reversal in oil prices and its implication for the Club’s energy holdings.

Read more at: https://www.cnbc.com/video/2023/02/13/monday-rally-raises-stakes-ahead-of-cpi-listen-to-the-homestretch.html

Ukraine war live updates: Bakhmut comes under heavy shelling; ‘no sign’ Putin is preparing for peace, says NATO’s Stoltenberg

Moscow said Monday that its forces had pushed forward a few kilometers along Ukraine’s frontline, while Kyiv said its troops had repelled Russian attacks in various areas.

Read more at: https://www.cnbc.com/2023/02/13/ukraine-war-live-updates-latest-news-on-russia-and-the-war-in-ukraine.html

House lawmakers relaunch the SALT caucus. Here’s what to know about the $10,000 deduction limit for state and local taxes

A group of bipartisan House representatives relaunched the SALT caucus last week, calling for relief from the $10,000 state and local taxes deduction limit.

Read more at: https://www.cnbc.com/2023/02/13/what-to-know-about-10000-deduction-limit-for-state-and-local-taxes.html

Meta’s chief business officer will leave the company after 13 years

Meta’s Chief Business Officer Marne Levine is stepping down after 13 years with the company, Meta announced in a release Monday.

Read more at: https://www.cnbc.com/2023/02/13/meta-chief-business-officer-marne-levine-leaving-after-13-years-.html

Super Bowl betting sets records for sportsbooks

The Super Bowl matchup between the Chiefs and the Eagles proved to be a huge night for gamblers and sportsbooks.

Read more at: https://www.cnbc.com/2023/02/13/super-bowl-betting-records.html

Ukraine plots post-war rebuilding effort with JPMorgan Chase as an economic advisor

One year into its conflict with Russia, which invaded Ukraine in February 2022, Ukraine’s government is laying the groundwork to help rebuild the country.

Read more at: https://www.cnbc.com/2023/02/13/ukraine-plots-post-war-rebuilding-effort-with-jpmorgan-chase-as-economic-advisor.html

Study Reveals Insiders Use ETFs To Conceal Trading Ahead Of M&A Announcements

A new study published on the Social Science Research Network (SSRN) reveals that exchange-traded funds (ETFs) are a “new form” of insider trading for those in the ‘know’ about upcoming merger and acquisition deals. The reason is that the ETF conceals their trading and is harder to track because the fund owns a basket of other stocks. Insiders, who trade on non-public information, are pivoting from single stock bets ahead of announcements because securities agencies can easily flag trading activity.

The paper is titled “Using ETFs to Conceal Insider Trading” and explains:

Our evidence suggests that some traders in possession of material non-public information about upcoming M&A announcements trade in ETFs that contain the target stock, rather than trading the underlying company shares, thereby concealing their insider trading.

Researchers described several reasons insiders gravitate toward ETFs:

• First, the stock that is the subject of the information may be a constituent of the ETF, so that one can get a direct exposure to the company’s share price via the ETF, but in a vehicle that is more subtle than trading the company shares directly, helping reduce scrutiny from law enforcement.
• Second, ETFs are cost-effective and often more liquid than the underlying company shares, potentially reducing the price impact of insider trades. Both theoretical and empirical evidence shows that insiders trade in highly liq …Read more at: https://www.zerohedge.com/markets/study-reveals-insiders-use-etfs-conceal-trading-ahead-ma-announcements

Fixing The Debt Ceiling Crisis… Via Gold

Submitted by Paul H. Kupiec and Alex J. Pollock,

When it comes to the debt ceiling, both the Fed and the New York Times get It wrong…

At the February FOMC press conference, Federal Reserve Chairman Powell was asked, “…about the debt ceiling. Given that we’ve now hit up against it…will the Fed do what Treasury directs as it relates to making payments or will it do its own analysis of any legal constraints?”  Powell responded, “There’s only one way forward here, and that is for Congress to raise the debt ceiling.”

The New York Times took issue with this response, peddling the idea that the Treasury could mint an obviously phony trillion dollar coin to pay the government’s bills.

But those are not the only choices.

There is a better way forward that is legally sound and has nothing to do with creating a fictitiou …

Read more at: https://www.zerohedge.com/political/fixing-debt-ceiling-crisis-gold

DHS Hires Outside Legal Counsel Ahead Of Possible Mayorkas Impeachment

Authored by Samantha Flom via The Epoch Times,

The Department of Homeland Security (DHS) has hired outside legal counsel in anticipation of potential impeachment proceedings against DHS Secretary Alejandro Mayorkas.

“The Department of Homeland Security has retained outside counsel to help ensure the Department’s vital mission is not interrupted by the unprecedented, unjustified, and partisan impeachment efforts by some Members of Congress, who have already taken steps to initiate proceedings,” a DHS spokesperson told The Epoch Times in a Feb. 10 statement.

“DHS will continue prioritizing its work to protect our country from terrorism, respond to natural disasters, and secure our borders while responding appropriately to the over 70 Congressional committees and subcommittees that have oversight of DHS.”

Read more at: https://www.zerohedge.com/political/dhs-hires-outside-legal-counsel-ahead-possible-mayorkas-impeachment

Multiple Pedestrians Struck, Dragged By U-Haul Truck In NYC “Rampage”: Official

A man driving a truck hit “went on a rampage” and hit several pedestrians in Bay Ridge, Brooklyn, on Monday morning, said a New York City councilman.

“A man driving a U-Haul went on a rampage in Bay Ridge,” City Councilman Justin Brannan wrote on Twitter Monday, adding that “several people were hit and badly injured.”

“We have no idea of motives at this time but this wasn’t an accident,” Brannan claimed.

“We think he hit at least 6 people with the truck and 2 are in very bad shape. PLEASE pray for these folks.”

Read more at: https://www.zerohedge.com/political/multiple-pedestrians-struck-dragged-u-haul-truck-nyc-rampage-official

Brexit hit UK investment by £29bn, says Bank of England policymaker

Jonathan Haskel says leaving the EU has caused a “productivity penalty” of £1,000 per household.

Read more at: https://www.bbc.co.uk/news/business-64623488?at_medium=RSS&at_campaign=KARANGA

Courier firm DX Group accused by rival of espionage

DX Group confirms a rival company has accused it of offering its staff bribes to get information.

Read more at: https://www.bbc.co.uk/news/business-64623484?at_medium=RSS&at_campaign=KARANGA

London bus strikes: Abellio drivers accept pay rise

Abellio London workers have been holding a series of strikes over recent months.

Read more at: https://www.bbc.co.uk/news/uk-england-london-64626372?at_medium=RSS&at_campaign=KARANGA

Tech View: Nifty forms bearish candle. What should traders do on Tuesday

Since last week, Nifty has been range-bound, and until we get a decisive move above the zone of 17850 – 17900, the range-bound action is likely to continue. The daily momentum indicator has a positive crossover which is a buy signal and also suggests that this dip should be bought into. Overall, we expect the Nifty to test the upper end (18100) of the downward-sloping channel from a short-term perspective.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-bearish-candle-what-should-traders-do-on-tuesday/articleshow/97874311.cms

Delhivery shares decline 6% as Q3 loss widens. Should you buy, sell or hold?

In line with the September quarter earnings, the incremental gross margin in the Express Parcel and PTL businesses combined continued to be approximately 50% in the third quarter as well. Revenue from Express Parcel services grew 7% quarter-on-quarter to Rs 1,200 crore in the third quarter as against Rs 1,125 crore in the second quarter.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/delhivery-shares-decline-6-as-q3-loss-widens-should-you-buy-sell-or-hold/articleshow/97859098.cms

Rs 10,200 crore-bet! Retail investors bought these 3 new-age tech cos in Dec qtr

While the stocks of new-age tech cos are yet to come out of the woods, analysts are turning bullish in some of them in the backdrop of an improvement in earnings and their ability to move towards positive profitability.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/rs-10200-crore-bet-retail-investors-bought-these-3-new-age-tech-cos-in-dec-qtr/articleshow/97853378.cms

The Margin: 5 reasons you shouldn’t go to a restaurant on Valentine’s Day

So much for those memorable romantic meals! The reality is that you could be paying high prices for a less-than-stellar dining experience.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7198-43687EAE3B26%7D&siteid=rss&rss=1

Bond Report: 2-year Treasury yield hits 12-week high as inflation data looms

Bond yields are largely mixed, though the policy-sensitive 2-year rate carves out another high, as investors show caution ahead of inflation data.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7197-AE2773EE981A%7D&siteid=rss&rss=1

In One Chart: Here are the Republicans running for president — or seen as potential 2024 contenders

This is MarketWatch’s list of the 2024 Republican presidential contenders and the status of their candidacies.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-718F-2109B20E2531%7D&siteid=rss&rss=1