The Surprising Scarcity Of Suitable Sand

The single most abundant element in the Earth’s crust is oxygen making up 46.6 percent of the mass. The second most abundant element is silicon making up 27.7 percent, mostly in the form of various molecules combining silicon and oxygen. Silicon dioxide is the kind people are familiar with and it is found on most, but not all beaches of the world. It just doesn’t seem reasonable to be concerned that we will somehow run out of sand. After all, the estimated weight of the Earth is 1.3 X 1025 pounds (13 followed by 24 zeros) or 6.5 X 1021 tons. The…

Read more at: https://oilprice.com/Metals/Commodities/The-Surprising-Scarcity-Of-Suitable-Sand.html

Experimental Geothermal Lab Taps Bedrock Heat For Green Power

A new solution to stop-gapping renewable variability is bubbling under the ground in the Southwest United States. An experimental geothermal lab in Beaver County, Utah thinks that it has the solution to keeping energy pumping to the grid when the sun isn’t shining and the breeze isn’t blowing on U.S. solar and wind farms.  The lab, funded since 2018 with $220 million from the U.S. Department of Energy, sits atop bedrock that reaches a blistering 465 degrees Fahrenheit. With this limitless supply of heat deep under the…

Read more at: https://oilprice.com/Alternative-Energy/Geothermal-Energy/Experimental-Geothermal-Lab-Taps-Bedrock-Heat-For-Green-Power.html

After U.S. Withdrawal, Orsted Pulls Out Of Norway Wind Bidding

Danish offshore wind developer Orsted has officially withdrawn from a consortium set to bid on Norwegian offshore wind projects just days after pulling out of two U.S. offshore wind projects, Reuters reports, citing one of the consortium partners.  The withdrawal comes just two days before Norway’s November 15 deadline to submit pre-qualification interests for the building of up to 1.5 gigawatts of offshore wind capacity.  “Orsted has informed us that due to a prioritisation of investments in the portfolio, it will withdraw…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/After-US-Withdrawal-Orsted-Pulls-Out-Of-Norway-Wind-Bidding.html

NASA’s Breakthrough In Battery Tech Paves Way For Electric Aviation

As governments worldwide put pressure on companies to decarbonise, it has become clear that aviation is one of the most hard to abate industries. With flight and passenger numbers rising – expected to rise to over 6 billion people flying annually by 2030 – it is critical that the industry find a way to reduce emissions. However, battery-powered or hydrogen-fuel commercial flights still appear a long way off. But will greater investment in battery technology help the sector to make this leap? The aviation sector contributes around 2.4…

Read more at: https://oilprice.com/Energy/Energy-General/NASAs-Breakthrough-In-Battery-Tech-Paves-Way-For-Electric-Aviation.html

Oil Gains On OPEC Demand Positivity, Fed Flip

Oil prices were climbing upwards midday Monday, with Brent crude gaining over 1.6% after the market digested an OPEC report suggesting demand in the U.S. and China is not lowering to the point of concern.  The markets were also responding to unclear indications from the U.S. Federal Reserve about a potential end to rate hikes, with various investment banks speculating on rate reductions in the next 12 months.  At 12:45 p.m. EST on Monday, Brent crude was trading at $82.74, up 1.61% for a $1.31 gain on the day. West Texas Intermediate…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Gains-On-OPEC-Demand-Positivity-Fed-Flip.html

Galactic Solar Farms: A New Frontier In Renewable Energy

Solar energy is one of the most promising pathways toward decarbonization, but it’s facing some massive challenges that will have to be addressed quickly if we’re going to curb emissions quickly enough to avoid the worst impacts of climate change. First, we’re running out of space to build new solar farms. Large solar farms can span thousands of acres, and are facing contentious land-use conflicts around the world. Second, solar power is variable, meaning that it depends on the weather, the time of day, and the tilt of the…

Read more at: https://oilprice.com/Alternative-Energy/Renewable-Energy/Galactic-Solar-Farms-A-New-Frontier-In-Renewable-Energy.html

Chinese Bitcoin Mining Operations Raise U.S. National Security Alarm

Chinese cryptocurrency mining operations have been discovered in 12 U.S. states, raising national security concerns, including Arkansas, Ohio, Oklahoma, Tennessee, Texas and most notably, as The Epoch Times’ Antonio Graceffo details below, The Pentagon is overseeing surveillance of a Chinese bitcoin mining facility in Cheyenne, Wyoming. This site is near a Microsoft data center that houses sensitive information, providing critical support to the Pentagon. In a 2022 report submitted to the Committee on Foreign Investment…

Read more at: https://oilprice.com/Energy/Energy-General/Chinese-Bitcoin-Mining-Operations-Raise-US-National-Security-Alarm.html

Exxon Looks To Become Leading Lithium Supplier By 2030

While doubling down on crude oil production, especially closer to home, ExxonMobil unveiled plans on Monday to produce lithium in Arkansas, aiming to become a leading supplier of the key metal for electric vehicles (EVs) by 2030.    Exxon announced plans to become a leading producer of lithium, the U.S. oil and gas supermajor said in a statement. The company has already begun work on a first phase of its North American lithium production in southwest Arkansas, an area known to hold significant lithium deposits. Southwestern…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Exxon-Looks-To-Become-Leading-Lithium-Supplier-By-2030.html

Goldman Sachs Sees 31% Returns For Energy Over 12 Months

Goldman Sachs sees energy netting returns of 31% over the next 12 months, with commodities expected to gain as a hedge against supply risks threatened by geopolitical developments such as the Hamas-Israel war.  Goldman is forecasting 21% returns on commodities overall for the prior as spot prices rise, monetary policy becomes less hawkish, and recession fears subside somewhat. The biggest gainers will be energy and industrial metals, the investment bank said in a note.  Goldman expects 17.8% returns for industrial metals, with copper…

Read more at: https://oilprice.com/Energy/Energy-General/Goldman-Sachs-Sees-31-Returns-For-Energy-Over-12-Months.html

Kuwait’s Mega Refinery To Return To Full Operation In 10 Days After Brief Halt

Kuwait’s Al-Zour Refinery, one of the largest crude processing facilities in the Middle East, experienced a brief halt on Sunday following a “sudden interruption” in fuel and gas supply, the operator of the refinery said. The restart has already begun, and it is expected that the refinery with a capacity of 615,000 barrels per day (bpd) would take up to 10 days to return to normal operations, Kuwait Integrated Petroleum Industries Company (KIPIC) said. The refinery was “exposed to a sudden interruption of fuel gas supplies…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Kuwaits-Mega-Refinery-To-Return-To-Full-Operation-In-10-Days-After-Brief-Halt.html

Net Zero Minister’s Statements Signal Shift In UK Climate Policy

Recent statements from the United Kingdom’s net zero minister suggest that the nation may be scaling back its decarbonization commitments at the COP28 UN climate summit beginning later this month in Dubai. Graham Stuart, the net zero minister has hinted that the nation will be placing a bigger emphasis on carbon capture and storage while backing off of pathways toward phasing out fossil fuel exploration and production. In his statements to the Members of Parliament (MPs), Stuart said that “there is nothing fundamentally wrong with…

Read more at: https://oilprice.com/Energy/Energy-General/Net-Zero-Ministers-Statements-Signal-Shift-In-UK-Climate-Policy.html

OPEC’s Oil Production Inched Up In October

OPEC’s crude oil production rose in October by 80,000 barrels per day (bpd) compared to September, but the output at the countries bound by the OPEC+ pact continued to be well below the levels agreed, OPEC said on Monday.   Total production from all 13 OPEC members averaged 27.90 million bpd in October 2023, up by 80,000 bpd month-on-month, as output rose in Angola, Iran, and Nigeria, according to the secondary sources the cartel uses to track production levels. Oil output in Libya, Saudi Arabia, and Kuwait fell last month compared…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/OPECs-Oil-Production-Inched-Up-In-October.html

OPEC Says Demand Concerns Are Overblown As Fundamentals Stay Strong

OPEC continues to view the oil market fundamentals as strong with Chinese crude imports set to increase to a new annual record in 2023, the cartel said on Monday, describing the most recent negative market sentiment as exaggerated.   “Recent data confirms robust major global growth trends and healthy oil market fundamentals,” OPEC said in its closely-watched Monthly Oil Market Report (MOMR), echoing last week’s comments from Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman. Last week, the energy minister…

Read more at: https://oilprice.com/Energy/Energy-General/OPEC-Says-Demand-Concerns-Are-Overblown-As-Fundamentals-Stay-Strong.html

U.S. And Indonesia Discuss Cooperation On Critical Minerals

The United States and Indonesia are discussing cooperation in critical minerals as U.S. President Joe Biden meets with his Indonesian counterpart Joko Widodo on Monday. The two countries are expected to discuss the idea of signing some sort of an agreement on critical minerals, senior officials told Bloomberg ahead of the meeting. Indonesia is a dominant player in the global market of nickel, a metal crucial to battery production and the energy transition. This weekend, sources familiar with the plans told Reuters that the two presidents are expected…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-And-Indonesia-Discuss-Cooperation-On-Critical-Minerals.html

Baker Hughes: Geopolitical Risks Are At The Highest Since 1973 Oil Embargo

The world faces the highest geopolitical risks since the 1973 oil embargo, the chief executive of one of the largest oilfield service providers, Baker Hughes, told the Financial Times. “From a historical context I’ve heard people say, you go back to the oil embargo of 1973 — that being somewhat similar,” Baker Hughes CEO Lorenzo Simonelli told FT in an interview. The Russian invasion of Ukraine and the conflict in the Middle East could threaten further instability in the oil and gas markets, Simonelli noted. The risks are…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Baker-Hughes-Geopolitical-Risks-Are-At-The-Highest-Since-1973-Oil-Embargo.html

Moody’s warning on the massive U.S. debt burden has turned into a nonevent

There was a time when bad news about U.S. debt would send markets into a tailspin, but that time apparently has passed.

Read more at: https://www.cnbc.com/2023/11/13/moodys-warning-on-the-massive-us-debt-burden-has-turned-into-a-nonevent.html

Pfizer wants in on the weight loss drug market – and upcoming data will be crucial for its success

Analysts said upcoming data on Pfizer’s obesity pill, danuglipron, will be crucial to how competitive the company can be against Eli Lilly and Novo Nordisk.

Read more at: https://www.cnbc.com/2023/11/13/pfizer-enters-weight-loss-drug-market-with-novo-nordisk-eli-lilly.html

Amazon cuts more than 180 jobs in gaming division

Amazon on Monday announced it will cut more than 180 jobs in its Amazon Games division as it refocuses its efforts on Prime Gaming.

Read more at: https://www.cnbc.com/2023/11/13/amazon-cuts-more-than-180-jobs-in-gaming-division.html

Exxon aims to become a top lithium producer for electric vehicles with Arkansas drill operation

Exxon aims to supply enough of lithium to support the manufacture of 1 million electric vehicles by 2030.

Read more at: https://www.cnbc.com/2023/11/13/exxon-to-produce-lithium-for-electric-vehicles-in-arkansas.html

Morgan Stanley’s Mike Wilson is out with his new 2024 outlook, and he sees the stock market stuck

Wilson predicts the S&P 500 will reach 4,500 in 2024, marking less than 2% upside from Friday’s close.

Read more at: https://www.cnbc.com/2023/11/13/morgan-stanleys-mike-wilson-is-out-with-his-new-2024-outlook.html

Supreme Court adopts ethics code as justices face criticism over financial disclosures

The move followed criticism over reports about undisclosed gifts and travel received by some members of the high court, includes Justice Clarence Thomas.

Read more at: https://www.cnbc.com/2023/11/13/supreme-court-adopts-ethics-code-as-justices-face-criticism-over-financial-disclosures.html

Consumer spending fell in October, according to new CNBC/NRF Retail Monitor tracking card transactions

The new Retail Monitor, debuting Monday, is a joint product of CNBC and the National Retail Federation based on real card data from Affinity Solutions.

Read more at: https://www.cnbc.com/2023/11/13/consumer-spending-fell-in-october-according-to-new-cnbc/nrf-retail-monitor-tracking-card-transactions.html

FTX sues crypto exchange Bybit over 2022 withdrawals: 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, Naveen Agnihotri, the CEO of Cumberland Labs and TrustApp, explains his new app, which uses AI and blockchain technology to weed out misinformation from social media.

Read more at: https://www.cnbc.com/video/2023/11/13/ftx-sues-crypto-exchange-bybit-over-2022-withdrawals-cnbc-crypto-world.html

House to vote on whether to impeach Homeland Security Secretary Alejandro Mayorkas

The number of migrants crossing into the U.S. reached a record high last year.

Read more at: https://www.cnbc.com/2023/11/13/mayorkas-impeachment-vote.html

Israel-Hamas war live updates: Biden says Al-Shifa and other hospitals ‘must be protected,’ calls for ‘less intrusive action’

The head of the World Health Organization said Al-Shifa — Gaza’s biggest hospital — is no longer functioning.

Read more at: https://www.cnbc.com/2023/11/13/israel-hamas-war-live-updates-latest-news-from-gaza.html

McDonald’s and Crocs are releasing a line of $75 shoes inspired by Grimace and the Hamburglar

The fast food chain’s footwear will go on sale Tuesday afternoon.

Read more at: https://www.cnbc.com/2023/11/13/mcdonalds-and-crocs-to-release-shoes-inspired-by-grimace-hamburglar.html

Couple with over $285,000 in debt made 3 common money mistakes, says self-made millionaire Ramit Sethi: ‘You are broke’

Trin and Lucas want to eliminate their six-figure debt and build wealth for their family. Ramit Sethi says these money mistakes are holding them back.

Read more at: https://www.cnbc.com/2023/11/13/ramit-sethi-couple-with-over-285000-in-debt-made-3-common-mistakes.html

Spot bitcoin ETF approval by the SEC is approaching, experts say. What that means for investors

Cryptocurrency investors are waiting for the first U.S. spot bitcoin exchange-traded fund, which could come early in 2024. Here’s what to know.

Read more at: https://www.cnbc.com/2023/11/13/spot-bitcoin-etf-approval-is-approaching-experts-say-what-to-know.html

US Consumers Trim Inflation Expectations, Turn Most Bearish On Stocks In One Year

After two months of increases in the 1-Year inflation expectation as tracked by the NY Fed’s monthly consumer survey, October saw the first decline in this series which traditionally is also a proxy for the price of oil since July. The drop in 1 year inflation expectations was matched by a small decline in 5 year inflation expectations, while inflation expectations at the 3 year point were unchanged.

Here are the details: as shown in the chart below, inflation expectations at the one-year horizon decreased to 3.57% from 3.67% in Sept; median inflation expectations at the three-year ahead horizon remained unchanged at 3.0% while 5-year-ahead inflation expectations declined to 2.72% from 2.84%, the lowest since April.

Tomorrow’s CPI update, which is different from the Fed’s preferred inflation metric, the core PCE, should help to inform policymakers before their next gathering on Dec. 12 and 13. …

Read more at: https://www.zerohedge.com/markets/us-consumers-trim-inflation-expectations-turn-most-bearish-stocks-one-year

Grayscale CEO Says They’re “Ready For The Main Event”, Awaiting Spot Bitcoin ETF Approval

Authored by Nik Hoffman via BitcoinMagazine.com,

Grayscale CEO Michael Sonnenshein took to X (Twitter) Monday morning to say “it’s been a ten year dress rehearsal. we’re ready for the main event,” ahead of seemingly imminent approval for the conversion of its flagship fund into a spot Bitcoin ETF.

it’s been a ten year dress rehearsal. we’re ready for the main event.

— Sonnenshein (@Sonnenshein) November 13, 2023

On June 29, 2022, Grayscale filed a lawsuit against the SEC for denying its spot Bitcoin ETF conversion.

Since then, Grayscale won its lawsuit against the SEC, with the regulator then deciding not to appeal the court decision after.

Ten days later, the US Court of Appeals issued a mandate that the SEC must re-review Grayscale’s spot Bitcoin ETF application.

[ZH: The discount that GBTC trades at has collapsed from almost 50% at the end of 2022 to around 10% now…]

Read more at: https://www.zerohedge.com/crypto/grayscale-ceo-says-theyre-ready-main-event-awaiting-spot-bitcoin-etf-approval

Cyber ‘Catastrophe Bonds’ Gain Traction Among Investors As Hack Attacks Soar

Beazley Plc, a leading European and US specialist insurer, issued the market’s first cyber catastrophe (CAT) bonds earlier this year. The insurer is now considering issuing a new cyber CAT bond valued at $100 million, as reported by Artemis, a research firm focused on insurance-linked securities. Similarly, Axis Capital is readying a $75 million cyber CAT bond, according to a document obtained by Bloomberg.

CAT bonds transfer difficult-to-insure risks for major corporations to capital market investors for high-yield returns that have traditionally focused on natural disasters like hurricanes and floods. However, the soaring risks associated with cyberattacks have made cyber CAT bonds increasingly popular this year.

Beazley’s cyber underwriting placed the market’s first insurance-linked securities (ILS) instrument of a $45 million cyber CAT bond in early January …

Read more at: https://www.zerohedge.com/markets/cyber-catastrophe-bonds-gain-traction-among-investors-hack-attacks-soar

Not So Great Expectations

By Benjamin Picton, senior markets strategist at Rabobank

The University of Michigan’s gauge of 5-10 year inflation expectations rose to 3.2% last week. The last time it was that high was in June of 2011, and you have to go all the way back to June of 2008 to find a higher reading (3.4%). 1-year inflation expectations also surprised by lifting to 4.4% versus a prior reading of 4.2% and an expected print of just 4%. This sets an interesting scene for the week ahead, because the US CPI report for October will be released tomorrow, and Keynesian types will tell you that inflation expectations ultimately become inflation.

Headline CPI is expected to print at 3.3% y-o-y (down from 3.7% in September), but the consensus estimate of economists surveyed by Bloomberg is for the core reading to remain unchanged at 4.1%. Stubborn inflation pressures, and the risk of ‘un-anchored’ expectations may have been on Fed Chair Powell’s mind last week when he told an IMF conference in Washington that “we’re trying to make a judgement at this point about whether we need to do more.”

Read more at: https://www.zerohedge.com/markets/not-so-great-expectations

Cameron’s return revives memories of Greensill finance scandal

Documents suggest Mr Cameron made $10m promoting the controversial finance business Greensill Capital, which later collapsed.

Read more at: https://www.bbc.co.uk/news/business-67401551?at_medium=RSS&at_campaign=KARANGA

Avon to open physical shops in the UK for the first time

The beauty brand made famous by its door-to-door sales slogan “Ding dong, Avon calling!” is changing tack.

Read more at: https://www.bbc.co.uk/news/business-67406434?at_medium=RSS&at_campaign=KARANGA

Royal Mail £5.6m fine a wake-up call, says watchdog

First and second class postal targets were missed by a “significant” margin, the regulator says.

Read more at: https://www.bbc.co.uk/news/business-67401045?at_medium=RSS&at_campaign=KARANGA

Tech View: OI data hints at sideways movement for Nifty. Here’s what traders should do on Wednesday

The near-term trend of Nifty continues to be positive. Having placed at the crucial overhead resistance around 19,550-19,600 levels, there is a possibility of some more consolidation or minor weakness in the short term before showing any decisive upside breakout of the resistance. Further weakness from here could find support around 19,300-19,250 levels, said Nagaraj Shetti of HDFC Securities.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-oi-data-hints-at-sideways-movement-for-nifty-heres-what-traders-should-do-on-wednesday/articleshow/105186975.cms

Flying start! Muhurat trading turnover at all-time high of Rs 14,091 crore

During the Muhurat trade, as many as 80% of the stocks advanced, 16% declined and 3% remained unchanged. The advance-decline ratio stood at 4.90, staying above 3 for the sixth consecutive year.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/flying-start-muhurat-trading-turnover-at-all-time-high-of-rs-14091-crore/articleshow/105184668.cms

Protean eGov Technologies makes a flattish debut. Should you exit or hold?

The stock listed at Rs 792, which is the same as issue price. However, there was some buying interest in the counter post the listing as stock rose about 12% intraday.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/protean-egov-technologies-makes-a-flattish-debut-should-you-exit-or-hold/articleshow/105185308.cms

Market Snapshot: Dow Jones edges higher as inflation data looms

U.S. stocks were mostly higher Monday, ahead of important inflation data in coming days.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7298-2A1B3DA2CD90%7D&siteid=rss&rss=1

Outside the Box: PCs and cars are the future for this giant but little-known chip-designer

Growth opportunities for Arm Holdings look strong despite stiff headwinds.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7298-2298136C12CE%7D&siteid=rss&rss=1

How a NFL bettor just turned $500,000 into $6 million — one of the biggest parlay payouts ever

A Florida bettor made a $5.5 million profit on a four-leg parlay

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7298-B3CAE071FD1A%7D&siteid=rss&rss=1