Offshore Wind Can Be Boon Or Bust, Depending On Where You Are

No energy companies have so far submitted bids in the UK’s 5GW offshore wind auction, with the government coming under fire for ignoring warnings that the offer on the table was too low to reflect soaring costs. This comes as a significant blow to Rishi Sunak’s plans to meet climate targets and lower energy bills and also makes it harder for the government to achieve its goal of reaching 50 GW of offshore wind by 2030. The price of the UK’s offshore wind power has fallen steeply in recent decades. The government set a maximum price…

Read more at: https://oilprice.com/Alternative-Energy/Wind-Power/Offshore-Wind-Can-Be-Boon-Or-Bust-Depending-On-Where-You-Are.html

BMW Commits To UK With Multi-Million Pound Electric Mini Plant

BMW has announced plans for a major multi-million-pound investment this morning in its electric Mini plant in Oxford, securing the long-term future of Mini production in the UK. The German carmaker will transform its existing factory through a £600m investment, creating 4,000 high-quality jobs in the process, after the government agreed to spend £75m in subsidies. The new plant will produce two new next-generation electric car designs, the Mini Cooper and the Mini Aceman, with a third model being made in Germany. It marks a major U-turn…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/BMW-Commits-To-UK-With-Multi-Million-Pound-Electric-Mini-Plant.html

China’s Influence In Central Asia Continues To Expand

Uzbekistan is supporting China’s vision for Taiwan’s future. The government news outlet Dunyo on September 4 published a brief Uzbek Foreign Ministry statement that endorses Beijing’s “One China” policy and expresses “hope for a speedy reduction of tension.” China was Uzbekistan’s top foreign investor during the first half of 2023 in terms of the volume of foreign investment and loans disbursed, according to the Uzbek State Agency for Statistics. China’s share of foreign investment stood at…

Read more at: https://oilprice.com/Geopolitics/International/Chinas-Influence-In-Central-Asia-Continues-To-Expand.html

South Sudan Backtracks On Plans to Take Over Oil Industry

South Sudan’s plans to assume control of oil fields from foreign companies, whose contracts expire in 2027, cannot feasibly be realized due to lack of financing and capabilities, Bloomberg has cited the newly independent country’s national planning body as saying during a national economic conference.  The original plan was for South Sudan’s state-owned Nile Petroleum Corp. to take over foreign oil operations when contracts expired.  Private operators in South Sudan’s oil industry include China’s…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/South-Sudan-Backtracks-On-Plans-to-Take-Over-Oil-Industry.html

Border Firefights Highlight Strained Pakistan-Taliban Relations

Pakistani border guards and Afghan Taliban fighters exchanged fire on September 6, the latest flare-up along the disputed border. Both sides accused each other of starting the firefight. In response, Islamabad has closed a key crossing, leaving hundreds of trucks and thousands of people on both sides of the border stranded. On the same day as the border clashes erupted, the Pakistani military said four soldiers had been killed in clashes with militants in the northwestern Chitral district, which borders eastern Afghanistan. The Tehrik-e Taliban…

Read more at: https://oilprice.com/Geopolitics/International/Border-Firefights-Highlight-Strained-Pakistan-Taliban-Relations.html

New Study Debunks Heat Pump Propaganda

Heat pumps will have to work harder in sub-zero temperatures, but are still two to three times more efficient than fossil fuels, according to a new report by Oxford University published on Monday in the Joule scientific journal.  The study could put an end to an ongoing debate about whether heat pumps are a true energy-efficiency solution in colder regions.  Specifically, the study found that heat pumps use two-to-three times less energy than fossil fuels in temperatures as cold as -20 C. The study claims to put paid to misinformation…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/New-Study-Debunks-Heat-Pump-Propaganda.html

Tata Steel Looks For UK Support To Make £1.2 Billion Green Furnace Upgrade

Via Metal Miner Tata Steel is in talks with the UK government to acquire £500 million ($630 million) in funding. The steelmaking multinational confirmed the funds would help the Port Talbot plant replace its operating blast furnaces with electric arc furnaces. The news comes as the Tata Steel share price recently reached a high for the year. “Given the financially constrained position of our UK business, any significant change is only possible with government investment and support,” Tata Steel stated on September 3. “As…

Read more at: https://oilprice.com/Metals/Commodities/Tata-Steel-Looks-For-UK-Support-To-Make-12-Billion-Green-Furnace-Upgrade.html

Feedgas Volumes To U.S. Freeport LNG Plant Plunge

The volumes of feedgas into the major U.S. LNG export facility Freeport LNG plummeted this weekend, at a time when the global gas market could tighten ahead of the winter with a strike at Australian LNG plants and maintenance in Norway. Feedgas flows to Freeport LNG plunged from 1,640 million cubic feet per day (mcf/day) on Friday, to 702.9 mcf/day on Saturday and further to 284.3 mcf/day on Sunday, according to data from LSEG cited by Reuters. On Monday, feedgas flows to the second-largest U.S. LNG exporting plant, averaged around 622 mcf/d, per…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Feedgas-Volumes-To-US-Freeport-LNG-Plant-Plunge.html

Hurricane Season Stirs Supply Chain Concerns For U.S. Shippers

No one wants a hurricane to make landfall. Among nature’s most damaging events, hurricanes that hit land in the United States usually cause death, destruction and misery. They can also cause havoc to supply chains.  In 2005, Hurricane Katrina was a 100,000-truckload event, requiring one of the largest relief and recovery supply deployments in U.S. history. In 2017, Hurricane Harvey prompted one of the greatest truck capacity crunches in recent history.  Hurricane Lee could cause massive supply chain disruptions if it lands in the…

Read more at: https://oilprice.com/Finance/the-Economy/Hurricane-Season-Stirs-Supply-Chain-Concerns-For-US-Shippers.html

UK Business Secretary: Britain Needs Chinese Battery Products

The UK needs China’s batteries to develop a domestic EV manufacturing industry and will not impose restrictions on imports of such products, the UK’s Business and Trade Secretary Kemi Badenoch told Bloomberg on Monday. Badenoch was commenting on the news the UK government shared today that BMW is set to announce a multi-million-pound investment in its Oxford MINI plant to make electric Minis. Last week, another major auto manufacturer, Stellantis, announced the start of EV production after a $125 million (£100 million) investment…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/UK-Business-Secretary-Britain-Needs-Chinese-Battery-Products.html

U.S. Shale Firms Drill Deeper Wells In Search Of Efficiency

The U.S. shale patch is looking to do more with less as it seeks capital and operational efficiency to prove to shareholders that it has turned the page from growth at all costs to measured growth accompanied by higher returns to investors. The oil and gas firms operating from the Permian to Marcellus shale plays are drilling increasingly deeper lateral wells as drilling rigs are fewer, but wells are longer. The total number of active drilling rigs in the United States rose by 1 last week, according to data from Baker Hughes published…

Read more at: https://oilprice.com/Energy/Energy-General/US-Shale-Firms-Drill-Deeper-Wells-In-Search-Of-Efficiency.html

Europe To See Lower Offline Refining Capacity During Autumn Maintenance

Europe’s refining capacity that will be offline during the autumn refinery maintenance season is expected to be 40% lower compared to last year, according to energy consultancy Wood Mackenzie.      As the global refining industry enters the autumn period of maintenance after the peak summer driving season, Europe’s capacity available for refining crude into fuels will be higher than in 2022 and the last pre-pandemic year 2019, WoodMac’s analysts have told Reuters. In the fourth quarter of 2023, Europe’s…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Europe-To-See-Lower-Offline-Refining-Capacity-During-Autumn-Maintenance.html

Russia’s Trade Nears Prewar Levels As It Defies G7 Sanctions

Trade at Russia’s three largest ports has been surging and is approaching prewar levels despite sweeping sanctions by the Group of Seven (G7) leading economies, according to a new report. “Activity in Russia’s ports is surprisingly high. For the first time since the outbreak of the Ukraine war, the volume of goods unloaded at Russia’s three largest container ports, St. Petersburg, Vladivostok, and Novorossiisk, is approaching the levels seen at the outbreak of the war,” the Kiel Institute for the World Economy in Germany wrote in a report published…

Read more at: https://oilprice.com/Geopolitics/International/Russias-Trade-Nears-Prewar-Levels-As-It-Defies-G7-Sanctions.html

French Minister Claims Oil Majors Must Transform To Survive

Oil companies do not stand a chance to survive if they do not transform, France’s Energy Transition Minister Agnès Pannier-Runacher told a French radio program this weekend. There is an urgent need to get out of fossil fuels, Pannier-Runacher told Radio France. “If oil companies do not transform, they will not have a chance of survival in the coming years,” the French minister noted.     Major oil and gas companies, including France’s TotalEnergies, have increased investments in their renewable energy…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/French-Minister-Claims-Oil-Majors-Must-Transform-To-Survive.html

Ukraine Retakes Oil And Gas Platforms Off Crimea From Russia

Ukraine said on Monday its forces had retaken oil and gas platforms offshore Crimea which Russia had occupied in 2015. The so-called Boyka Towers are oil and gas drilling platforms off the coast of Crimea in the Black Sea, and Ukraine has regained control over them, the Defence Intelligence of Ukraine said in a post on social media accompanied by a YouTube video. The platforms for oil and gas drilling were occupied by Russia in 2015, after the Russian annexation of Crimea in 2014. The platforms were recaptured from Russia in what Ukraine described…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Ukraine-Retakes-Oil-And-Gas-Platforms-Off-Crimea-From-Russia.html

Jamie Dimon says it’s a ‘huge mistake’ to think economy will boom with so many risks out there

Dimon cited tighter monetary policy and the Ukraine war as big risks for the economy.

Read more at: https://www.cnbc.com/2023/09/11/jamie-dimon-huge-mistake-to-think-economy-will-boom.html

Stocks notch back-to-back wins Monday, Nasdaq pops 1% as tech shares rebound: Live updates

Investors bought up tech shares in the wake of recent weakness.

Read more at: https://www.cnbc.com/2023/09/10/stock-market-today-live-updates.html

The Charter-Disney showdown didn’t transform the TV industry, after all, despite the hype

Charter and Disney reached an agreement before “Monday Night Football” in a rights deal that isn’t transformational despite earlier rhetoric.

Read more at: https://www.cnbc.com/2023/09/11/disney-charter-showdown-did-not-transform-tv.html

FDA approves updated Covid vaccines from Pfizer and Moderna as hospitalizations rise

The Biden administration said it expects the new Pfizer and Moderna vaccines targeting the omicron variant XBB.1.5 to be available in mid-September.

Read more at: https://www.cnbc.com/2023/09/11/covid-vaccines-fda-approves-new-shots-from-pfizer-moderna.html

Here’s what Wall Street expects from the Apple iPhone event Tuesday and its meaning for the stock

Apple is about to launch a new iPhone. If history is any guide, there may be no better time to consider snatching up shares.

Read more at: https://www.cnbc.com/2023/09/11/what-wall-street-expects-apple-event-tuesday-means-for-the-stock.html

Tesla shares soar 10% after Morgan Stanley upgrade

Morgan Stanley upgrades Tesla price target to $400 per share on potential of custom silicon.

Read more at: https://www.cnbc.com/2023/09/11/tesla-shares-soar-10percent-after-morgan-stanley-upgrade.html

Cybersecurity issue prompts computer shutdowns at MGM Resorts properties across US

A “cybersecurity issue” has led to the shutdown of some casino and hotel computer systems at MGM Resorts International properties across the U.S.

Read more at: https://www.cnbc.com/2023/09/11/cybersecurity-issue-prompts-computer-shutdowns-at-mgm-resorts-properties-across-us.html

Coinbase ‘committed to India’ despite stopping new user sign ups on exchange: CNBC Crypto World

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, S&P Global’s Cristina Polizu breaks down the findings of new stablecoin research.

Read more at: https://www.cnbc.com/video/2023/09/11/coinbase-committed-india-despite-stopping-new-user-sign-ups-exchange-cnbc-crypto-world.html

RTX to take $3 billion charge on Pratt & Whitney engine problem, shares tumble

The issue is forcing inspections on hundreds of Pratt & Whitney GTF engines ahead of schedule.

Read more at: https://www.cnbc.com/2023/09/11/rtx-to-take-3-billion-charge-on-pratt-whitney-engine-problem.html

Ukraine war live updates: North Korea’s Kim Jong Un reportedly on train to Russia as Kremlin confirms visit is happening

Russian President Vladimir Putin will meet his North Korean counterpart Kim Jong Un this week, the Kremlin confirmed Monday.

Read more at: https://www.cnbc.com/2023/09/11/ukraine-war-live-updates-latest-news-on-russia-and-the-war-in-ukraine.html

Photos: America marks the 22nd anniversary of the 9/11 terrorist attacks

Monday marks the 22nd anniversary of the Sept. 11 terror attacks — the deadliest terrorist attack on U.S. soil — which took the lives of nearly 3,000 people.

Read more at: https://www.cnbc.com/2023/09/11/photos-america-marks-the-22nd-anniversary-of-the-9/11-terror-attacks-.html

How electrified roads could help fix America’s electric vehicle charging problem

As EVs gain popularity across the globe, charging infrastructure is in high demand. Some are now considering electric roads to supplement static charging.

Read more at: https://www.cnbc.com/2023/09/11/how-electrified-roads-could-help-fix-americas-ev-charging-problem.html

Bet against America’s love for junk food? Morgan Stanley sees tough times ahead for snack stocks like Hostess

J.M. Smucker’s plan to buy Twinkies-maker Hostess Brands is a risky move, if Morgan Stanley’s latest research is correct.

Read more at: https://www.cnbc.com/2023/09/11/morgan-stanley-sees-tough-times-ahead-for-snack-stocks-like-hostess.html

Sean Davis: Was 9/11 The Day America Started To Fall?

Today marks 22 years since the fateful events of 9/11.

The following infographic provides an overview of what happened on that morning in 2001 from the first plane taking off in Boston to the collapse of the North Tower of the World Trade Center.

You will find more infographics at Statista

In total, 2,977 victims were killed in the attacks with many more dying in the years since due to illnesses.

115 countries lost citizens on 9/11 while it’s estimated that it took 3.1 million h …

Read more at: https://www.zerohedge.com/markets/sean-davis-was-911-day-america-started-fall

FDA Authorizes New Covid-19 Shots From Pfizer, Moderna

The matrix keeps glitching…

Now that only the most mentally unstable liberals are demanding that the government protect them from near certain death by forcing them to wear face diapers that don’t – and have never – worked, on the afternoon of September 11 US drug regulators – many of whom are undoubtedly hoping to get a job offer at either Pfizer or Moderna as soon as they quit the public sector – authorized new COVID-19 vaccines to try to counter the poor effectiveness the current slate provide.

The U.S. Food and Drug Administration (FDA) cleared shots from Moderna and Pfizer that will be available to Americans as young as 6 months of age later this month. It’s a different question if anyone will take said shots following the recent newsflow suggesting that the side effects of the covid shots are far more dangerous than the so-called “vaccine” which doesn’t actually prevent infection.

“Vaccination remains critical to public health and continued protection against serious consequences of COVID-19, including hospitalization and death,” Dr. Peter Marks, a top FDA official, said in a statement.

“We very much encourage those who are eligible to consider getting vaccinated.”

The FDA approved the Moderna and Pfizer vaccines for people aged 12 and older. Regulators granted emergency authorization for the shots for people aged 6 months to 11 years of age. There was no mention of Novavax, whose vaccine is also available in the United States.

The shots target XBB.1.5, a subvariant of the Omicron virus variant. That subv …

Read more at: https://www.zerohedge.com/covid-19/fda-authorizes-new-covid-19-shots-pfizer-moderna

The “Why Not” Culture: Why The Georgia Final Report Should Worry Us All

Authored by Jonathan Turley,

Below is my column in the Hill on release of the final report of the Special Purpose Grand Jury in Georgia. The recommendation for sweeping indictments involving 39 people, including current and former senators, only magnifies fears over political prosecutions.

For many of us, the inclusion of figures like the senators reflects a rogue grand jury.

However, Rep. Adam Schiff (D., Cal.) insisted that Sen. Lindsey Graham was “lucky” not to be indicted. According to Schiff, Graham calling Georgia officials about the counting or discarding of votes was enough to justify a criminal charge. Presumably, since Graham could be indicted with Trump, Schiff would also consider him eligible to be barred from ever running again for office under the 14th Amendment, as discussed below.

It is the “why not” approach to criminal and constitutional law.

Read more at: https://www.zerohedge.com/political/why-not-culture-why-georgia-final-report-should-worry-us-all

Canada PM Trudeau Stranded In India After Plane Breaks Down

Canadian Prime Minister Justin Trudeau and his entire delegation have been stuck in India since Sunday while trying to leave the Group of 20 summit after their plane broke down.

Trudeau, his delegation, and journalists were set to depart New Delhi after the summit but were delayed when Canadian Armed Forces pilots, conducting a pre-flight checklist, noticed a mechanical issue that could not be fixed overnight.

“Upon our departure for the airport, we were made aware by the Canadian Armed Forces that CFC001 was experiencing technical issues,” Trudeau’s office told CTV News.

Trudeau’s office continued, “These issues are not fixable overnight, our delegation will be staying in India until alternate arrangements are made.”

CTV noted that the Airbus jet had caused other flight disruptions for Trudeau and his delegation in the past.

An issue in October 2016 required the aircraft to return to Ottawa 30 minutes after taking off with the prime minister, who was en route to Belgium to sign the Canada-Europe free trade deal.

Then, in October 2019, the VIP plane rolled into a wall while being towed into a hangar at 8 Wing Trenton in Ontario, sustaining “significant structural damage to the nose and right engine cowling,” according to the Royal Canadian Air Force.

The plane was out of service for several months that year as a result. A backup aircraft was used to take Trudeau to the NATO summit in …

Read more at: https://www.zerohedge.com/geopolitical/canada-pm-trudeau-stranded-india-after-plane-breaks-down

All Wilko shops to shut with 12,500 jobs likely to go

The Wilko name will disappear from UK High Streets as a rescue deal for the chain falls through.

Read more at: https://www.bbc.co.uk/news/business-66743050?at_medium=RSS&at_campaign=KARANGA

What went wrong at Wilko?

The beloved discount retailer was founded in 1930 but now all 400 stores are set to close within weeks.

Read more at: https://www.bbc.co.uk/news/business-66394238?at_medium=RSS&at_campaign=KARANGA

BMW investment secures future of Mini factories

BMW is investing £600m in preparing its Oxfordshire plant to build the next generation of electric cars.

Read more at: https://www.bbc.co.uk/news/business-66745660?at_medium=RSS&at_campaign=KARANGA

Top 7 smallcap stocks where FIIs hiked stake in June quarter

Foreign institutional investors (FIIs) hiked stakes in around 62 Nifty smallcap stocks for the quarter gone by. Here’s a list of the top 7 stocks where FIIs increased their holdings in the June quarter. Interestingly, these stocks have also delivered double-digit returns to investors in FY23. Take a look (Source: Ritesh Presswala, Ace Equity)

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/top-7-smallcap-stocks-where-fiis-hiked-stake-in-june-quarter-do-you-own-any/strength-in-numbers/slideshow/103584757.cms

Irrational exuberance! Last lot of new favorite mid, smallcap stocks in dubious category: Kotak Equities

Market sentiment is quite exuberant based on steep increase in the prices of many midcap and smallcap stocks, large inflows into midcap and smallcap mutual funds, and huge number of new retail participants in the midcap and smallcap funds, Kotak said.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/irrational-exuberance-last-lot-of-new-favorite-mid-smallcap-stocks-in-dubious-category-kotak-equities/articleshow/103570717.cms

Jefferies picks Tata Motors, Maruti, 7 other stocks to buy this reason

Jefferies picks Tata Motors and TVS Motor Company as its top picks from the pack while betting on Maruti Suzuki India (MSIL), Ashok Leyland, Bajaj Auto, Eicher Motors, Hero MotoCorp, Samvardhana Motherson and Sona BLW Precision Forgings. The brokerage has a ‘hold’ rating on Mahindra & Mahindra while and an ‘underperform’ on Bharat Forge

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/jefferies-picks-tata-motors-maruti-7-other-stocks-to-buy-this-reason/articleshow/103584111.cms

Market Snapshot: Dow heads for third day of gains ahead of coming inflation, retail-sales data

U.S. stocks are higher with bond yields holding steady in Monday’s final hour of trading, as traders gear up for a data-rich week.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-725F-5D15EF0F734D%7D&siteid=rss&rss=1

New Pfizer and Moderna COVID shots approved by FDA

CDC is set to vote on the new shots Tuesday, but questions remain about costs for uninsured people.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-725F-FA64153124F3%7D&siteid=rss&rss=1

Market Extra: Tesla’s stock busts through 50-DMA resistance into bull-market territory

Tesla bulls finally succeeded Monday to get the electric vehicle giant’s stock past upside technical resistance and into fresh bull-market territory.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-725F-D7E3A822624A%7D&siteid=rss&rss=1