China’s Appetite For Lithium Grows Despite Downturn In Prices

Via MetalMiner It seems that China’s hunger for lithium remains unsatiated. Indeed, a new S&P Global report highlighted the “red dragon’s” efforts to gobble up critical minerals, including lithium battery elements, from mines across the globe.  The report explained how China’s reach continues to grow in terms of minerals, particularly those critical to products that have major implications for the future. Faced with more restrictive foreign investment policies in the developed markets, Chinese firms are…

Read more at: https://oilprice.com/Alternative-Energy/Renewable-Energy/Chinas-Appetite-For-Lithium-Grows-Despite-Downturn-In-Prices.html

Iran’s Soaring Oil Exports Poised To Slow This Autumn

Iran’s soaring oil exports following secret diplomacy with the U.S. are likely to fall for the rest of the year as demand in Asia wanes with the end of summer, Bloomberg has reported. Prospects of reviving the Iran nuclear deal have swung dramatically, from near certain in March 2022 to almost nil by the end of the year and somewhere in the middle currently. Although prospects of a deal being signed any time soon appear dim, relations between Washington and Tehran have warmed up considerably, with the Biden administration unblocking frozen…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Irans-Soaring-Oil-Exports-Poised-To-Slow-This-Autumn.html

Alaska Air Force Base Home To Mini-Nuclear Reactor Pilot Project

The Defense Logistics Agency Energy, on behalf of the US Air Force, is serious about decarbonizing a military base in Alaska. Surprisingly, the focus is on something other than solar or wind but on mini-nuclear reactors. According to a press release from Santa Clara-based Oklo Inc., the USAF issued a Notice of Intent to Award a contract for micro-reactors to supply power and heat to Eielson Air Force Base.  “This project represents a significant stride towards ensuring a clean and resilient energy supply for critical national security infrastructure,”…

Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Alaska-Air-Force-Base-Home-To-Mini-Nuclear-Reactor-Pilot-Project.html

Russia: No New Grain Deal Until West Meets Demands

President Vladimir Putin has said a deal that allowed Ukraine to export grain safely through the Black Sea will not be restored until the West meets its obligations to facilitate Russian agricultural exports. Putin made the statement after talks with Turkish President Recep Tayyip Erdogan, who helped broker the deal seen as vital for global food supplies, especially in Africa, the Middle East and Asia. Ukraine and Russia are major suppliers of wheat, barley, sunflower oil and other goods that developing nations rely on. But Russia refused to extend…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-No-New-Grain-Deal-Until-West-Meets-Demands.html

Putin’s Natural Gas Leverage Over The EU Is Not Entirely Gone

Russia could turn to exerting pressure over European natural gas supply this winter when it can, Swedish bank SEB said in a note on Monday. Gazprom’s gas deliveries to its former key customers in Europe slumped with the halt of Russian pipeline gas exports to nearly all European countries. Weeks after the Russian invasion of Ukraine in early 2022, Russia cut off supply to Poland, Bulgaria, and Finland. Then Gazprom started to reduce supply via the Nord Stream pipeline to Germany in June 2022, claiming an inability to service gas turbine maintenance…

Read more at: https://oilprice.com/Energy/Energy-General/Putins-Natural-Gas-Leverage-Over-The-EU-Is-Not-Entirely-Gone.html

China’s Oil Giant CNOOC Shuts Down Oil Fields Amid Super Typhoon

China’s state-owned offshore giant China National Offshore Oil Corporation (CNOOC) has evacuated more than 10,000 workers from offshore production platforms, floating production and storage vessels in anticipation of Typhoon Saola.  Media quoted a CNOOC official in charge of exploration and production in the South China Sea’s Pearl River Mouth basin as saying that over 7700 crew in this region had been evacuated in a major operation as a precaution. Additionally, more than 2800 were evacuated from over a dozen drilling rigs and…

Read more at: https://oilprice.com/Energy/Energy-General/Chinas-Oil-Giant-CNOOC-Shuts-Down-Oil-Fields-Amid-Super-Typhoon.html

Petrobras Suspends Key Asset Sales

Brazilian national oil company Petroleo Brasileiro SA (NYSE:PBR), aka Petrobras, has halted the sale of key assets in a  broad divestment process that was kicked off by Petrobras’ previous management under former President Jair Bolsonaro. The state-run firm has announced it will no longer sell the onshore Urucu and Bahia-Terra clusters, as well as the Manati oilfield and Petrobras Operaciones, its subsidiary in Argentina. The company says it has adopted a new policy for oil exploration and production based on “maximizing portfolio value by…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Petrobras-Suspends-Key-Asset-Sales.html

Carbon Shipping Set To Boom As Companies Look For Offshore Storage Options

The transportation of carbon dioxide (CO2) is taking to the seas as emitters look for flexible ways to move captured carbon to offshore storage projects, with a fleet of 55 carriers required by 2030, according to Rystad Energy research. Based on planned carbon capture projects, we predict that more than 90 million tonnes per annum (tpa) of CO2 will be shipped by the end of the decade, volumes requiring 48 terminals to handle the import and export of the gas. As the global carbon capture, utilization and storage (CCUS) market expands, a significant…

Read more at: https://oilprice.com/Energy/Energy-General/Carbon-Shipping-Set-To-Boom-As-Companies-Look-For-Offshore-Storage-Options.html

UK Fuel Prices See One Of The Largest Monthly Increases In 23 Years

UK drivers experienced a big shock at the pump in August as the prices of gasoline and diesel saw some of the biggest monthly jumps in 23 years amid rallying international crude oil prices, RAC, the UK’s longest-serving motoring organization, said on Monday. The price of gasoline in the UK rocketed by nearly 6.68 pence per liter in August while diesel shot up by 8 pence, making for the fifth and sixth biggest monthly rises in 23 years, data from RAC Fuel Watch shows. The average price of unleaded gasoline made filling up a tank $5.05 (£4)…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/UK-Fuel-Prices-See-One-Of-The-Largest-Monthly-Increases-In-23-Years.html

Australian Lithium Producer Plans To Accept Albemarle’s Acquisition Offer

The board of Australian lithium producer Liontown Resources intends to recommend shareholders vote in favor of a new increased buy offer from Albemarle if the world’s largest lithium producer makes its latest revised indicative proposal a binding offer. Earlier this year, Albemarle submitted a non-binding proposal to acquire all outstanding shares of Liontown by way of scheme of arrangement for AUS$2.50, or US$1.661, per share in cash, which values Liontown at AUS$5.2 billion, or US$3.4 billion, on an enterprise basis. But Liontown Resources…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Australian-Lithium-Producer-Plans-To-Accept-Albemarles-Acquisition-Offer.html

Energy Industry Experts Converge On Asia’s Biggest Oil Conference

Top executives from the world’s largest commodity trading houses and major energy firms are joining analysts at the biggest Asian industry event this week, days after crude oil prices hit their highest level this year. The Asia Pacific Petroleum Conference (APPEC) by S&P Global Commodity Insights will see from Monday to Wednesday the participation of many top executives in the petroleum industry, including Russell Hardy, CEO at the world’s largest independent trader Vitol, Ben Luckock, Co-Head of Oil Trading at another major trading…

Read more at: https://oilprice.com/Energy/Energy-General/Energy-Industry-Experts-Converge-On-Asias-Biggest-Oil-Conference.html

Venezuela’s Oil Exports Plunge By 38% From Three-Year High

Venezuela’s oil shipments plummeted in August by 38% compared to the three-year high reached in July as state oil firm PDVSA was unable to maintain production at the upgraders that convert the extra heavy oil into grades suitable for shipping, Reuters reported on Monday, quoting PDVSA internal documents and tanker-tracking data. Last month, Venezuela exported 544,000 barrels per day (bpd) of crude oil, down by 38% compared to over 877,000 bpd shipped in July, per LSEG Eikon vessel tracking data cited by Reuters. In July, Venezuela’s…

Read more at: https://oilprice.com/Energy/Energy-General/Venezuelas-Oil-Exports-Plunge-By-38-From-Three-Year-High.html

BMW: Gasoline Car Ban Poses “Imminent Risk” To European Automakers

The EU’s pledge to ban the sale of new gasoline and diesel cars and vans from 2035 poses an “imminent risk” to Europe’s car manufacturers, which are unlikely to win a looming EV price war with their Chinese competitors, BMW chairman Oliver Zipse has told the Financial Times. “I want to send a message: I see that as an imminent risk,” Zipse said. The executive, however, said BMW was in a better position to compete with the Chinese manufacturers, most of which are targeting buyers of cheaper and smaller electric…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/BMW-Gasoline-Car-Ban-Poses-Imminent-Risk-To-European-Automakers.html

Commodity Trader Trafigura Sees Upside Risk For Oil Prices

Crude oil prices could be vulnerable to the upside as the market is still tight, Ben Luckock, Co-Head of Oil Trading at trading giant Trafigura, said on Monday. “The markets are probably a bit too relaxed,” Luckock said at the Asia Pacific Petroleum Conference (APPEC) by S&P Global Commodity Insights, as carried by Reuters.     The $72 to $88 per barrel range is the fair price for oil, he said, but added that the current supply tightness “leaves us vulnerable” to further rises in crude oil prices. Early…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Commodity-Trader-Trafigura-Sees-Upside-Risk-For-Oil-Prices.html

Top Oil Trader Sees Supply Tightness Easing Amid Refinery Maintenance

The tight oil market could see some reprieve in the coming two months as refineries plan end-of-summer maintenance, according to Russell Hardy, the chief executive of the world’s biggest independent oil trading house, Vitol. Although supply would improve globally, the sour crude market will remain tight as the production cuts from the Middle Eastern OPEC+ members continue, Hardy said at the Asia Pacific Petroleum Conference (APPEC) by S&P Global Commodity Insights on Monday, as carried by Reuters. “Because of the OPEC+ cuts, there’s…

Read more at: https://oilprice.com/Energy/Energy-General/Top-Oil-Trader-Sees-Supply-Tightness-Easing-Amid-Refinery-Maintenance.html

Mercedes and BMW want to take on Tesla. Check out their new electric concept cars

At the IAA auto show in Munich, Mercedes showed off the Mercedes-Benz Concept CLA Class while BMW revealed the BMW Vision Neue Klasse.

Read more at: https://www.cnbc.com/2023/09/04/bmw-mercedes-reveal-electric-concept-cars-specs-features-details.html

Biden gets low marks on economy and major concerns about his age as he looks to Trump rematch, new poll shows

In a Labor Day speech in Philadelphia, Biden lashed out at Trump repeatedly over his economic record, accusing “the last guy” of ceding U.S. jobs to China.

Read more at: https://www.cnbc.com/2023/09/04/biden-2024-election-poll-trump-economy-old-age-concerns-inflation.html

Xi to skip G20 summit in India, China to send Li instead

Premier Li Qiang will lead China’s delegation at a G20 summit in New Delhi this weekend, China’s foreign ministry said.

Read more at: https://www.cnbc.com/2023/09/04/xi-to-skip-g20-summit-in-india-china-to-send-li-instead.html

Putin and Erdogan discuss grain deal; Kyiv replaces defense minister

Ukraine’s defense minister was dismissed over the weekend, with President Volodymyr Zelenskyy saying the defense ministry needs “needs new approaches.”

Read more at: https://www.cnbc.com/2023/09/04/ukraine-war-live-updates-latest-news-on-russia-and-the-war-in-ukraine.html

Nvidia isn’t the only game in town. Investors advise against overlooking these other AI beneficiaries

Portfolio managers say it’s hard to pinpoint who the clear challenger to Nvidia will be, but the chipmaker won’t be the only dominant player in town forever.

Read more at: https://www.cnbc.com/2023/09/04/nvidia-isnt-the-only-game-in-town-investors-advise-against-overlooking-these-other-ai-beneficiaries.html

Germany is the ‘sick man of Europe’ — and it’s causing a shift to the right, top economist says

Germany is once again the sick man of Europe, economist Hans-Werner Sinn told CNBC, and he said the shift could cause a rise in right-wing politics.

Read more at: https://www.cnbc.com/2023/09/04/germany-is-the-sick-man-of-europe-and-its-causing-a-shift-to-the-right-top-economist-says.html

Oil giant led by COP28 boss to spend an ‘eyewatering’ $1 billion a month on fossil fuels this decade, Global Witness says

The research comes ahead of the COP28 climate summit, with Dubai set to host the U.N.’s annual conference from Nov. 30 through to Dec. 12.

Read more at: https://www.cnbc.com/2023/09/04/cop28-adnoc-to-spend-over-1-billion-a-month-on-oil-and-gas-for-years-global-witness-says.html

Why auto worker strikes against GM, Ford and Stellantis seem inevitable

Prolonged strikes against GM, Ford and Stellantis would be unprecedented and quickly impact the automotive supply chain, U.S. economy and domestic production.

Read more at: https://www.cnbc.com/2023/09/02/uaw-strikes-at-gm-ford-stellantis-seem-inevitable.html

September to remember or to forget? Here are things working for and against the stock market

Historically, Jim Cramer says he’s not a huge September fan. Here’s why.

Read more at: https://www.cnbc.com/2023/09/04/september-to-remember-cramer-on-things-working-for-and-against-stock-market.html

‘Very stupid’: Italy’s bank tax remains controversial as government scrambles to update it

Italy’s shock tax on banks continues to prove controversial, even as the government insists it can “improve” it.

Read more at: https://www.cnbc.com/2023/09/04/italys-tax-on-bank-profit-continues-to-prove-controversial-.html

Smash Mouth singer Steve Harwell dies at 56 of acute liver failure

The singer had retired from the band two years ago.

Read more at: https://www.cnbc.com/2023/09/04/smash-mouth-singer-steve-harwell-known-for-hit-song-all-star-dies-at-56.html

Tens of thousands still stranded by Burning Man flooding in Nevada desert

Tens of thousands of partygoers stranded at the Burning Man counterculture festival by a late summer storm hoped muddy roads would reopen Monday.

Read more at: https://www.cnbc.com/2023/09/03/thousands-told-to-shelter-in-place-at-burning-man-fest-in-nevada-with-access-closed-due-to-flooding.html

Keep an eye on ‘blue’ bonds, a little-known income alternative tied to clean water

These water-oriented securities are the less well-known cousins of ‘green’ bonds.

Read more at: https://www.cnbc.com/2023/09/04/blue-bonds-a-little-known-income-alternative-tied-to-clean-water.html

Zuckerberg’s “Twitter Killer” App Struggles For Traction

Struggles For TractionAuthored by Benjamin Kew via The Epoch Times,

Meta CEO Mark Zuckerberg’s microblogging platform Threads, launched to great acclaim as Instagram’s “Twitter Killer” in July, appears to be showing signs of struggle.

The initial signs for Threads were extremely encouraging.

The platform—nearly a carbon copy of Twitter, now known as X—pulled in a staggering 100 million sign-ups in less than five days.

Forbes senior contributor John Koetsier outlined how Twitter had “imploded” under the leadership of Elon Musk and cited the “instant credibility” and “simplicity” of Threads as an alternative.

Read more at: https://www.zerohedge.com/technology/zuckerbergs-twitter-killer-app-struggles-traction

Retailer’s Revenge! Obese Jewelry Thief Gets Whipped Then Stripped

We’re not exactly known for exuding optimism, but we can’t help but notice a promising micro-trend in which more and more fed-up American retailers and bystanders are thwarting rampant thievery with delicious displays of force.

Last month, we wrote about the 7-Eleven workers in California who absolutely pummeled a man who’d been filling a rolling garbage can with tobacco products while calling the workers “bitch-ass niggas.” Now, in two more heartwarming episodes, employees at a Los Angeles jewelry store put a fierce end to a man’s attempt at a daylight smash-and-grab robbery, and bystanders in Scottsdale detained a gem thief.

Batter up! One of the members of the family-owned business repeatedly strikes the blubbery burglar

The first story’s action kicked off a little after 2pm on Saturday at M …

Read more at: https://www.zerohedge.com/political/retailers-revenge-obese-jewelry-thief-gets-whipped-then-stripped

Victor Davis Hanson: What The Left Did To Our Country

Authored by Victor Davis Hanson via American Greatness,

In the last 20 years, the Left has boasted that it has gained control of most of America institutions of power and influence – the corporate boardroom, media, Silicon Valley, Wall Street, the administrative state, academia, foundations, social media, entertainment, professional sports, and Hollywood.

With such support, between 2009-17, Barack Obama was empowered to transform the Democratic Party from its middle-class roots and class concerns into the party of the bicoastal rich and subsidized poor – obsessions with big money, race, a new intolerant green religion, and dividing the country into a binary of oppressors and oppressed.

The Obamas entered the presidency spouting the usual leftwing boilerplate (“spread the wealth,” “just downright mean country,” “get in their face,” “first time I’ve been proud of my country”) as …

Read more at: https://www.zerohedge.com/political/victor-davis-hanson-what-left-did-our-country

“Exodus Begins”: Thousands Attempt To Flee Burning Man

For the more than 70,000 attendees stuck at the Burning Man festival in the northern Nevada desert, a break in the weather and drying toxic alkaline lake bed will likely spark an exodus of ‘burners’ around noon.

Around 1123 ET, Burning Man Traffic posted on X, formerly known as Twitter, “Gate Road remains too wet & muddy for most vehicles to safely navigate out of BRC this morning, but is drying.”

The event organizer warned an “Exodus likely to begin around noon today.” It said all burners need to listen to “BMIR 94.5 FM, GARS 95.1 FM” for updates.

Gate Road remains too wet & muddy for most vehicles to safely navigate out of BRC this morning, but is drying. Exodus likely to begin around noon today, Monday 9/4. We will update you again in the next few hours. Listen to BMIR 94.5 FM, GARS 95.1 FM and watch here for updates

— Burning Man Traffic (@bmantraffic) September 4, 2023

The chaos began on Friday evening when burners were told to shelter in place and conserve food, water, and fuel when the dried-up alkaline lake bed transformed into a muddy hellhole. By Saturday, the situation deteriorated, and organizers closed the festival’s roads a …

Read more at: https://www.zerohedge.com/markets/exodus-begins-thousands-attempt-flee-burning-man

Fuel price rises push up cost of full tank by around £4

The rises in August were among the steepest in 20 years but retailers did not bump up profits, says RAC.

Read more at: https://www.bbc.co.uk/news/business-66710418?at_medium=RSS&at_campaign=KARANGA

Are spending cuts to blame for the schools concrete crisis?

Capital spending on education has been squeezed since 2010 as money has been redirected to healthcare.

Read more at: https://www.bbc.co.uk/news/business-66709376?at_medium=RSS&at_campaign=KARANGA

Backlash sparks delay over rail ticket office closure plans

Passenger watchdogs have been given more time to assess the vast volume of responses to a consultation.

Read more at: https://www.bbc.co.uk/news/business-66705508?at_medium=RSS&at_campaign=KARANGA

I am looking for things to sell now; only buying silver: Jim Rogers

“I own a lot of US dollars but even that worries me now and then because, US dollars have been strong for a long time, and I am not sure they are really making things better in Washington. They are probably making things worse. So, even I worry about my US dollars now.”

Read more at: https://economictimes.indiatimes.com/markets/expert-view/i-am-looking-for-things-to-sell-now-only-buying-silver-jim-rogers/articleshow/103355847.cms

Breakout Stocks: How IRCON International, RVNL and IRFC are looking on charts for Tuesday’s trade

Sectorally, buying was seen in metals, public sector, utilities, IT and power stocks while consumer durables and FMCG space saw selling

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/breakout-stocks-how-ircon-international-rvnl-and-irfc-are-looking-on-charts-for-tuesdays-trade/articleshow/103361036.cms

Tech View: Nifty charts hint at further rebound. What traders should do on Tuesday

Nifty is currently in an attempt of showing an upside breakout of the down sloping trend line around 19500 levels. A decisive move above 19600 levels is expected to pull Nifty towards the next upside of around 19800-19900 levels in the near term

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-charts-hint-at-further-rebound-what-traders-should-do-on-tuesday/articleshow/103362218.cms

The Human Cost: ‘I lost bidding war after bidding war’: A ‘hellish’ imbalance in the housing market is frustrating buyers

If interest rates are so high, why have house prices not declined?

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7254-218D73EFF808%7D&siteid=rss&rss=1

The Moneyist: ‘We live a rather lavish lifestyle’: My wife and I are 33, live in New York City and earn $270,000. Can we retire at 55?

“We travel a lot, eat at nice restaurants and essentially buy what we want.”

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7254-B16B16FB83AC%7D&siteid=rss&rss=1

The Moneyist: I gave my daughter $5,000 for her divorce, but she lashed out when I refused to give her more. When will enough be enough?

“I have provided more than $166,000 in financial assistance to my daughters since they graduated from high school.”

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7255-CA10AA835316%7D&siteid=rss&rss=1