China’s Low-Cost Nuclear Offer Faces Scrutiny in Kazakhstan

A Kazakh media outlet, citing a watchdog group representative, is reporting that the Kazakh government is balking at a Chinese proposal to build the Central Asian nation’s first nuclear power plant. The Kazakh government has not officially commented on the report.  The Kursiv news outlet cites Baurzhan Ibrayev, chair of the Central Asia advisory board of the UK-based New Nuclear Watch Institute, as saying the projected cost of the Chinese-built plant would be up to half the price of proposals submitted by French, Russian and South Korean…

Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Chinas-Low-Cost-Nuclear-Offer-Faces-Scrutiny-in-Kazakhstan.html

Oil Prices Shed 2% As Shippers Gamble on Red Sea

West Texas Intermediate (WTI) crude oil prices are down over 2% on Wednesday, with Brent crude closing in on similar losses on the day as global shipping giants gear up to resume traversing the Red Sea despite an ongoing Houthi missile barrage.  At 3:43 p.m. ET on Wednesday, WTI was trading down 2.02% at $74.04. Brent crude was trading down 1.86% at $79.56.  Oil prices have continued to track downwards on faith that a U.S.-led international task force, dubbed Prosperity Guardian, will be able to protect merchant vessels from…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Shed-2-As-Shippers-Gamble-on-Red-Sea.html

Russia’s Arctic LNG 2 Project Faces Setback Due to US Sanctions

Russia has decried U.S. sanctions targeting the country’s massive Arctic LNG 2 project, saying they are unacceptable and will undermine global energy security.  Located in the Gydan Peninsula in the Arctic, the LNG project is considered key to Russia’s efforts to boost its global LNG market share from 8% to 20% by 2030-2035.  Russia is the world’s fourth largest LNG producer behind the United States, Qatar and Australia. “We consider such actions unacceptable, especially in relation to such large international commercial projects…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Arctic-LNG-2-Project-Faces-Setback-Due-to-US-Sanctions.html

Next-Gen Hydrogen Visualization Could Accelerate Clean Energy Progress

Using conventional X-rays and lasers to detect the atomic state of hydrogen is quite challenging, given its small size. A Tohoku University group of researchers may have overcome this barrier by unveiling a new visualization technique that employs an optical microscope and polyaniline to paint a better picture of how hydrogen behaves in metals. The group has created a simple and inexpensive means to visualize the atomic state of hydrogen. Details of their breakthrough have been published in the journal Acta Materialia. Hydrogen or dihydrogen, is…

Read more at: https://oilprice.com/Energy/Energy-General/Next-Gen-Hydrogen-Visualization-Could-Accelerate-Clean-Energy-Progress.html

Iron Ore Futures Hit Ten-Month High On Chinese Stimulus Efforts

Iron ore futures hit a ten-month high on Monday, riding a wave of optimism from Chinese policymakers who rolled out new a fiscal stimulus package coupled with interest rate cuts at major state-owned banks. This move by Beijing is set to cushion the struggling property market. Iron ore futures in Singapore soared to the highest intra-day level since late February, around $140 per ton. Prices have soared 40% since early August.  On Sunday, state-run media Global Times reported that Chinese policymakers planned to roll out 1 trillion…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Iron-Ore-Futures-Hit-Ten-Month-High-On-Chinese-Stimulus-Efforts.html

New Solar Powered Desalinization Method May Help To Solve Water Scarcity

It looks like a step forward has been taken in the longstanding task of figuring out energy and cost efficient ways of desalinating ocean water.  According to ABC, scientists at Tianjin’s Nankai University have innovated a solar-powered desalination system that harnesses smart DNA hydrogels for freshwater production. The method was highlighted in a recent Science Advances publication and offers a significant energy efficiency advantage over traditional desalination techniques like reverse osmosis, which are energy-intensive, the report says.…

Read more at: https://oilprice.com/Energy/Energy-General/New-Solar-Powered-Desalinization-Method-May-Help-To-Solve-Water-Scarcity.html

Williams Companies Strikes $2 Billion Deal for Gas Storage Assets

Energy infrastructure company, the Williams Companies Inc. (NYSE:WMB), has agreed to acquire a portfolio of natural gas storage assets from Hartree Partners for $1.95B, a purchase the company says will improve its natural gas storage operations to meet growing power demand for Gulf Coast LNG and data centers along the Transco corridor.  The gas assets include six underground natural gas storage facilities in Louisiana and Mississippi with total capacity of 115B cf, 30 pipeline interconnects to attractive markets including connections to Transco…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Williams-Companies-Strikes-2-Billion-Deal-for-Gas-Storage-Assets.html

China’s New Rare Earth Policy Shakes Global Tech Industry

China just expanded its already tight restrictions on export of technology related to refining rare earth minerals. The most recent restrictions involve technology for making rare earth magnets which are used in electric motors and generators. These minerals are also used extensively in the automotive industry and in consumer electronics such as cellphones. I have previously written that the clean energy economy is a metals energy economy, and rare earths constitute a substantial and key part of that metals energy economy. Export of rare earth…

Read more at: https://oilprice.com/Metals/Commodities/Chinas-New-Rare-Earth-Policy-Shakes-Global-Tech-Industry.html

Shipping Giants Resume Suez Canal Operations Following Houthi Attacks

Danish shipping giant, Maersk, and scores of leading shipping companies have begun shipping via the Suez Canal weeks after they abandoned the pivotal route following numerous attacks by Houthi rebels.  On Christmas eve, Maersk announced it was preparing a return to the Red Sea, citing the deployment of a U.S.-led military operation to protect vessels against the attacks. On Wednesday, Reuters reported that the shipping giant had scheduled dozens of to traverse the Suez Canal, view the Red Sea.  Since Dec. 19, Maresk has rerouted ships…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Shipping-Giants-Resume-Suez-Canal-Operations-Following-Houthi-Attacks.html

Europe Eyes Venezuelan Oil in Diversification Drive

The recent easing of sanctions between the United States and Venezuela, marked by pivotal legal settlements and new commercial arrangements, represents a significant turning point for the global energy industry. These developments, particularly the resolution of disputes involving Petróleos de Venezuela S.A. (PDVSA), signal the reinvigoration of Venezuela’s oil and gas sector and hold substantial promise for energy-hungry Europe. The settlement between PDVSA and Refineria di Kòrsou (RdK), navigated by Dentons Europe LLP – led by David…

Read more at: https://oilprice.com/Energy/Crude-Oil/Europe-Eyes-Venezuelan-Oil-in-Diversification-Drive.html

China and India Account for More Than 90% of Russian Oil and Fuel Exports

China took in half of all the crude oil that Russia exported this year, with India a close second, Deputy Prime Minister Alexander Novak said today on state TV. China now accounts for 45% to 50% of Russian oil and fuel exports, while India is taking in some 40%, Novak said. The increase is particularly remarkable for India, where Russia exported almost no oil whatsoever until 2022. Now, it is the subcontinent’s leading supplier. “If earlier we exported around 40-45% of our total crude oil and refined products to Europe, by the end of…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/China-and-India-Account-for-More-Than-90-of-Russian-Oil-and-Fuel-Exports.html

Huge Capital Investment Required for U.S. Electric Industry’s Decarbonization

When the COP 28 conference adjourned a short while ago, we concluded that the world’s electric industry would not decarbonize fast enough to make electrification the sure route to decarbonization. The principal culprits? Fast-growing Asian economies continue to build coal-fired power plants. Don’t get the idea, though, that American electricity producers will win any environmental stewardship prizes soon, either. They hope to get fossil fuel-produced electricity down from around 57% in 2022 to around 27% in 2050. All the S&P 500-type…

Read more at: https://oilprice.com/Energy/Energy-General/Huge-Capital-Investment-Required-for-US-Electric-Industrys-Decarbonization.html

Brent Holds At $80 After Red Sea Attacks

Attacks on shipping in the Red Sea continued over Christmas, but Brent crude failed to extend its rally on Wednesday morning. Shipping Disruptions See Reversal in Hedge Fund Strategies – Shipping disruptions in the Red Sea might be the bullish moment oil markets were waiting for as hedge funds stopped shorting crude futures for the first time since September. – After 10 consecutive weeks of hedge funds cutting their net length in the WTI contract, in the week ending December 19 that trend saw a reversal, even if coming from lower short positions…

Read more at: https://oilprice.com/Energy/Energy-General/Brent-Holds-At-80-After-Red-Sea-Attacks.html

European Funds Face Forced Oil, Gas Divestment

ESG funds operating in Europe are facing a forced divestment from oil and gas companies under new French regulations. Per the new regime, ESG funds that want to earn the official French label of “socially responsible” investing, will be banned from holding stocks in oil and gas companies engaged in new exploration and production. Since there is virtually no oil and gas company that does not engage in new exploration and production, the new rules would mean divestment, the Financial Times reports, citing sources from the financial…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/European-Funds-Face-Forced-Oil-Gas-Divestment.html

Iran Reports Growth in Oil, Gas Exports

Iran has exported $26.46 billion worth of crude oil since the start of its calendar year, in March, contributing to a 7% increase in total trade, which stood at $112 billion in the period. This is according to customs data from Tehran, as cited by Reuters. For next year, Iran’s government is making budget plans based on an expected daily average crude oil export rate of 1.35 million barrels, at an average price of $65 per barrel. Gas exports, meanwhile, did even better, according to the data. These rose by an impressive 139% in…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Iran-Reports-Growth-in-Oil-Gas-Exports.html

Apple Watch import ban temporarily stopped by U.S. appeals court

Apple will be able to sell the latest Apple Watches after an import ban was temporarily paused by an appeals court on Wednesday

Read more at: https://www.cnbc.com/2023/12/27/apple-watch-import-ban-temporarily-stopped-by-us-appeals-court-.html

New York Times sues Microsoft, ChatGPT maker OpenAI over copyright infringement

The New York Times on Wednesday filed a lawsuit against Microsoft and OpenAI, the company behind popular AI chatbot ChatGPT.

Read more at: https://www.cnbc.com/2023/12/27/new-york-times-sues-microsoft-chatgpt-maker-openai-over-copyright-infringement.html

From ‘Barbenheimer’ to Taylor Swift, here are the most important films of 2023 and why they worked

From big blockbusters to independent, shoestring-budget indies, the 2023 box office saw great improvements over last year.

Read more at: https://www.cnbc.com/2023/12/27/2023-most-important-films.html

Ether rallies 6% in catch-up trade as investors position for January

The price of ether jumped on Wednesday as investors looked ahead to key upside catalysts expected in January.

Read more at: https://www.cnbc.com/2023/12/27/ether-rallies-6percent-in-catchup-trade-as-investors-position-for-january.html

These Nasdaq-100 stocks struggled this year. Where analysts see them going in 2024

While stocks have rallied for the most part to end 2023, a few names have bucked the trend. Still, some of these laggards could make a comeback in the new year.

Read more at: https://www.cnbc.com/2023/12/27/these-nasdaq-100-stocks-struggled-this-year-where-analysts-see-them-going-in-2024.html

MicroStrategy buys more bitcoin, pushing holdings to nearly $6 billion: 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, industry experts take a look back at U.S. regulatory advancements in digital assets over the past year and discuss what can be expected in 2024.

Read more at: https://www.cnbc.com/video/2023/12/27/microstrategy-buys-more-bitcoin-pushing-holdings-to-nearly-6-billion-cnbc-crypto-world.html

Generative AI’s breakout year produced hefty profits for Nvidia and lofty experiments for others

OpenAI set the stage for a wild year in technology when it released ChatGPT in late 2023, but Nvidia was the big beneficiary.

Read more at: https://www.cnbc.com/2023/12/27/generative-ai-big-year-meant-profit-for-nvidia-experiments-elsewhere.html

Bitcoin’s 2023 rally drove some of the stock market’s biggest gains this year

Shares of Marathon Digital, Coinbase, MicroStrategy and the Grayscale Bitcoin Trust all jumped more than 300% in 2023, double the gains in bitcoin

Read more at: https://www.cnbc.com/2023/12/27/bitcoin-2023-rally-pumped-up-marathon-coinbase-microstrategy-gbtc.html

Michigan court rejects appeal to disqualify Trump from 2024 ballot

Michigan’s decision contrasts a Colorado ruling earlier in December, which will bar Trump from the state’s 2024 ballot.

Read more at: https://www.cnbc.com/2023/12/27/michigan-court-rejects-appeal-to-disqualify-trump-from-2024-ballot.html

Online retailer Zulily is shutting down

The women’s and children’s apparel specialist recently became known for its aggressive advertising across social media platforms.

Read more at: https://www.cnbc.com/2023/12/27/online-retailer-zulily-is-shutting-down.html

Comedian Tom Smothers, one-half of the Smothers Brothers, dies at 86

The National Comedy Center, on behalf of his family, said in a statement that Smothers died Tuesday at home in Santa Rosa, California, after a cancer battle.

Read more at: https://www.cnbc.com/2023/12/27/comedian-tom-smothers-one-half-of-the-smothers-brothers-dies-at-86.html

You may be facing a Dec. 31 use-it-or-lose-it deadline with your flexible spending account. Here’s what you need to know

The deadline to use your flexible spending account balance for 2023 may be just days away. Experts weigh in on how to best put that money to good use.

Read more at: https://www.cnbc.com/2023/12/27/flexible-spending-accounts-what-to-know-about-the-dec-31-deadline.html

Buy these stocks for a potentially choppy 2024, Roth MKM says

Roth MKM believes 2024 could prove to be a volatile year for stocks. Here are some of the firm’s top picks.

Read more at: https://www.cnbc.com/2023/12/27/buy-these-stocks-for-a-potentially-choppy-2024-roth-mkm-says.html

2024: The Year Of ‘Fiat Alternatives’?

Via ‘Charts and Parts’ Substack,

INTROIt’s that time of year when market junkies start to build their list of top trade ideas for 2024. The crowd loves their trading, their predictions, and their guesswork.  Although we at C&P are laser focused on a #riskfirst approach, we can stray into the guessing lane.

We are never afraid of being wrong; even the best traders are wrong 50% of the time.  Our #COTY (Call Of The Year) is: BITCOIN & GOLD.  AKA “fiat alternatives”.  There are other cryptos and precious metals, but for simplicity’s sake, we’ll stick with the biggies.

We have compiled a top ten list of reasons why we favor fiat alternatives, but let’s first set the table.  The seeds of inflation have been sown for decades, and 2021 and 2022 was when the inflation genie came out of the bottle.

Both bitcoin and gold underperformed in 2022, to say the least.  Where gold had a flat 2022, Bitcoin was down roughly 65% in 2022 and traded down …

Read more at: https://www.zerohedge.com/markets/2024-year-fiat-alternatives

Erdogan On The Attack Again, Says Netanyahu ‘No Different Than Hitler’

‘Turkish President Tayyip Erdogan has continued to heap denunciations and insults on Israel in relation to its military operation in Gaza and the immense civilian death toll.

Since the Israeli military’s major offensive in the wake of Oct.7, Erdogan’s verbal attacks have grown, taking Turkey-Israel relations to a historical low-point. This time Erdogan played the ‘Hitler card’ after having already called Israel a “terror state”. He said Wednesday at an event in Ankara:

Sharpening his rhetoric, Erdogan said Turkey would welcome academics and scientists facing persecution for their views on the conflict in Gaza, adding Western countries supporting Israel were complicit in what he called war crimes.

“They used to speak ill of Hitler. What difference do you have from Hitler? They are going to make us miss Hitler. Is what this Netanyahu is doing any less than what Hitler did? It is not,” Erdogan said.

Read more at: https://www.zerohedge.com/geopolitical/erdogan-attack-again-says-netanyahu-no-different-hitler

DEI: Degradation, Exclusion, And Intolerance

Authored by M.B.Mathews via AmericanThinker.com,

By now, everyone, including its proponents, knows that DEI (Diversity, Equity, Inclusion) means nothing of the sort.

It isn’t diverse, it isn’t equitable, and it certainly isn’t inclusive.

In fact, DEI is nothing but exclusionary revenge against non-racists by racists, and all to address nonexistent “systemic racism” and long-defunct slavery. There is no slavery in America except that slavery of Democrats to the party of their own destruction.

Today, DEI stands for Degradation, Exclusion, and Intolerance.

It has shown itself to be:

• DEGRADING:  The pool of employees, officials, and hirees across the employable fruited plain has been degraded. Talent and skill and competence have taken a back seat to skin color. Merit is no longer the criterion by which the best are chosen. Color …Read more at: https://www.zerohedge.com/political/dei-degradation-exclusion-and-intolerance

ICE Arrests 26 Illegal Immigrants In California For Removal Over Crimes Of Sexual Abuse

Authored by Melanie Sun via The Epoch Times (emphasis ours),

It’s been a busy period for arrests by U.S. Immigration and Customs Enforcement (ICE) in California in the leadup to Christmas.

Last week, ICE’s Los Angeles Enforcement and Removal Operations (ERO) team arrested 26 illegal immigrants who are sex offenders in a two-day operation.

The operation targeted removing illegal immigrants who were known to law enforcement and had criminal convictions relating to sexual offences, posing “a serious threat to public safety,” ICE said in a press release.

“The outcome of this operation exemplifies the professionalism, dedication and commitment of ERO Los Angeles officers to public safety,” ERO Los Angeles Field Office Director Thomas Giles said …

Read more at: https://www.zerohedge.com/political/ice-arrests-26-illegal-immigrants-california-removal-over-crimes-sexual-abuse

Treasury says 2024 Budget to be held on 6 March

The speech could be the government’s last opportunity to set out tax changes before the general election.

Read more at: https://www.bbc.co.uk/news/business-67826928?at_medium=RSS&at_campaign=KARANGA

New York Times sues Microsoft and OpenAI for ‘billions’

The US news organisation claims millions of its articles were used without permission to train ChatGPT.

Read more at: https://www.bbc.co.uk/news/technology-67826601?at_medium=RSS&at_campaign=KARANGA

Hapag-Lloyd says Red Sea route still ‘too dangerous’

Several major shipping firms are still avoiding the route after attacks related to the Israel-Gaza war.

Read more at: https://www.bbc.co.uk/news/business-67827444?at_medium=RSS&at_campaign=KARANGA

Tech View: Nifty forms long bull candle ahead of monthly expiry. What traders should do on Thursday

Positive chart patterns like higher tops and bottoms are intact as per the daily chart and currently, Nifty is moving towards the new higher top formation. Still, there is no confirmation of any higher top reversal at the highs. Having breached above the immediate resistance of 21,550-21,600 levels, there is a possibility of more upside in the short term.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-long-bull-candle-ahead-of-monthly-expiry-what-traders-should-do-on-thursday/articleshow/106325421.cms

Market wrap: Property wins big, Adani lags in stellar year for Indian stocks

Robust economic growth, an infrastructure push and a pause in interest-rate increases have helped propel its equity market to successive highs. Stocks related to real estate, industrials and capital goods are among those leading the gains, while Adani Group companies — the heavy hitters of 2022 — are mostly finishing with losses despite a rebound in recent months.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/market-wrap-property-wins-big-adani-lags-in-stellar-year-for-indian-stocks/articleshow/106305979.cms

Credo Brands share price rises 6% after flat listing. What should investors do?

“Despite the disappointing listing, Credo Brands still possesses its core strengths, including a strong brand, a wide distribution network, and consistent financial performance. However, the flat debut highlights the potential risks associated with the highly competitive market, seasonality, and current market sentiment,” said Shivani Nyati, Head of Wealth, Swastika Investmart.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/credo-brands-share-price-rises-6-after-flat-listing-what-should-investors-do/articleshow/106315079.cms

10-year Treasury yield drops to lowest since July as market absorbs sale of 5-year notes

U.S. bond yields fell on Wednesday as investors continued to bet that inflation will ease and the Federal Reserve will cut interest rates in 2024, with rates extending their drop in the afternoon after the Treasury Department sold a slug of 5-year Treasury notes.

Read more at: https://www.marketwatch.com/story/ten-year-treasury-yields-trade-near-five-month-lows-amid-hopes-inflation-continues-to-ease-9e5f71fb?mod=mw_rss_topstories

Working a second job or thinking about it? Consider this investment instead.

Two words: side hustle.

Read more at: https://www.marketwatch.com/story/working-a-second-job-or-thinking-about-it-consider-this-investment-instead-06ac2ae0?mod=mw_rss_topstories

Yield spreads tighten on ‘Magnificent Seven’ corporate bonds

Yields narrow between 10-year Treasurys and bonds.

Read more at: https://www.marketwatch.com/story/spreads-tighten-on-magnificent-seven-corporate-bonds-as-investors-take-profits-1a28cc7d?mod=mw_rss_topstories