Protecting Coasts and Powering Homes: The Tidal Range Revolution

Lancaster University researchers David Vandercruyssen, Simon Baker, David Howard and George Aggidis from the School of Engineering have said that tidal range schemes are vital to protect habitats, housing and businesses from a rising sea level estimated to be over one meter within 80 years. The research report published in Energy (an open access paper), follows on from earlier Lancaster University research into a combined tidal range electricity generation and cost model demonstrating the viability of tidal range energy in the UK. This showed how…

Read more at: https://oilprice.com/Alternative-Energy/Tidal-Energy/Protecting-Coasts-and-Powering-Homes-The-Tidal-Range-Revolution.html

Beijing Navigates Shifting Sands in Middle East Politics

Recent months of compounding crises in the Middle East have exposed China’s limited commitment and ability to play a leading role in the region, and as I explained here, Beijing isn’t necessarily well-positioned to benefit from the newfound chaos. Finding Perspective: Since the beginning of Israel’s ongoing war in Gaza, China has gradually taken a backseat toward the conflict. Beijing has used the large-scale humanitarian crisis and mounting civilian casualties in Gaza as an opportunity to blame the hostilities on the United States’s Middle East…

Read more at: https://oilprice.com/Geopolitics/International/Beijing-Navigates-Shifting-Sands-in-Middle-East-Politics.html

Climate Groups Defeat Norwegian Government In Court Battle

The Norwegian government has suffered a major setback in its bid to expand the country’s oil and gas production after the country’s Supreme Court ruled that three permits issued by the government to develop new offshore oil and gas fields are invalid because their environmental impact was not sufficiently assessed.  Last year, Greenpeace Nordic and Natur og Ungdom filed a lawsuit with the Oslo District Court, seeking a temporary injunction for the three projects—Equinor ASA’s (NYSE:EQNR) Breidablikk…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Climate-Groups-Defeat-Norwegian-Government-In-Court-Battle.html

Election Year Puts Climate Change at Forefront for Businesses

Last week we learnt that 2023 was the world’s hottest year on record. Concerns about the temperature data from both the Met Office and the EU’s Climate Change Service comes as we have faced worsening flooding in the UK, wildfires across North America and prolonged droughts in East Africa. This extreme weather poses a risk to lives and livelihoods in the UK and around the world. It presents business and the City with serious challenges, but also opportunities to shape the future for the better. In this General Election year, while there…

Read more at: https://oilprice.com/The-Environment/Global-Warming/Election-Year-Puts-Climate-Change-at-Forefront-for-Businesses.html

Philippines To Explore South China Sea For Oil Amid China Dispute

The Philippines says it will go ahead with plans to build defense alliances with the U.S. and its Western allies in a bid to make it possible for the Southeast Asian nation to explore oil-and-gas-rich South China Sea. “I really do think it’s quite urgent that we start now,” Philippine’s Defence Secretary Gilberto Teodoro Jnr told Bloomberg News in an interview on Wednesday in his office in Manila, adding that oil exploration is “part of the package” of the country’s strategy to protect its…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Philippines-To-Explore-South-China-Sea-For-Oil-Amid-China-Dispute.html

Red Sea Crisis Spurs Surge in Container Ship Rates

Red Sea diversions mean container lines need more ships to carry the same amount of cargo. The security situation — which is even more precarious in the near term due to coalition air strikes in Yemen — has already driven spot container freight rates much higher. Now it is starting to push up the price container lines pay to rent ships. “This week saw a scramble for prompt tonnage,” said MB Shipbrokers (formerly Maersk Broker) in a market report on Friday, referring to ships that can be chartered immediately. “Owners…

Read more at: https://oilprice.com/Geopolitics/International/Red-Sea-Crisis-Spurs-Surge-in-Container-Ship-Rates.html

Shell Starts Layoffs in Search of Efficiencies

Shell has begun hundreds of layoffs, sources with knowledge of the matter told Bloomberg on Thursday, as the supermajor looks to create more value through simplification and discipline. Positions in the low-carbon business will be the first to be eliminated, followed by additional job cuts in the corporate affairs division and project and technology departments, Bloomberg’s sources said.  Last year, Shell said it plans to cut 15% of the 1,300 jobs in its Low Carbon Solutions business as it scales back some green energy…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Shell-Starts-Layoffs-in-Search-of-Efficiencies.html

Asia, Europe LNG Imports Likely To Survive Red Sea Chaos

Despite the continued escalation of tensions and conflicts in the Middle East and the diversion of LNG cargoes away from the Red Sea, natural gas prices in Europe and spot LNG prices in Asia have dropped to the lowest levels in years and months, respectively, even during peak winter season.   Asian demand for LNG has rebounded this winter season, following weaker-than-expected import demand in the 2022/2023 season, while gas inventories in the region are relatively high. This would help the biggest Asian buyers, China, Japan, and South…

Read more at: https://oilprice.com/Energy/Natural-Gas/Asia-Europe-LNG-Imports-Likely-To-Survive-Red-Sea-Chaos.html

The World’s Coal-Fired Power Generation Hit a Record High in 2023

Global coal-fired power generation reached a record-high level in 2023, per data from environmental think tank Ember reported by Reuters columnist Gavin Maguire. As countries, especially in Asia, looked to meet growing electricity demand and ensure their energy security, coal use in power generation hit record highs. Per Ember data, global electricity generation from coal was 8,295 terawatt hours (TWh) between January and October, up by 1% compared to the same period in 2022. Meanwhile, global coal exports also rose last year to more than 1 billion…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/The-Worlds-Coal-Fired-Power-Generation-Hit-a-Record-High-in-2023.html

Oil Moves Up on Inventory Draw

Crude oil prices inched higher today after the U.S. Energy Information Administration reported an estimated inventory decline of 2.5 million barrels for the week to January 12. This compared with a moderate inventory build of 1.3 million barrels for the previous week, which also saw another round of massive increases in fuel inventories that drove prices lower at the time. For last week, the EIA also reported more inventory builds in gasoline and middle distillate stocks. In gasoline, the authority estimated an inventory increase…

Read more at: https://oilprice.com/Energy/Crude-Oil/Oil-Moves-Up-on-Inventory-Draw.html

Russia’s Oil Revenues Slump To Six-Month Low

Widening discounts for Russian grades and lower international benchmark prices dragged Russia’s oil export revenues down to a six-month low in December, despite higher export volumes, the International Energy Agency (IEA) said on Thursday.   All Russian oil exports, including crude and fuels, jumped by 500,000 barrels per day (bpd) to 7.8 million bpd in the last month of 2023, compared to November, the IEA said in its Oil Market Report for January. This was the highest export level in nine months, with crude oil shipments jumping…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Oil-Revenues-Slump-To-Six-Month-Low.html

Tesla’s Aggressive Pricing Strategy Hits European Auto Stocks

New year, same strategy to move metal. Tesla is reportedly slashing prices across Europe, following similar moves the company made in China and also continuing the strategy the company used successful throughout 2023 to stoke demand at the cost of margins.  Multiple sources, citing Tesla’s website, reported on Wednesday morning that Tesla has reduced prices for two variants of its Model Y in Germany by 5,000 euros ($5,439). The Performance version of the Model Y is now available to German buyers at EUR55,990, and the Long Range version is…

Read more at: https://oilprice.com/Energy/Energy-General/Teslas-Aggressive-Pricing-Strategy-Hits-European-Auto-Stocks.html

IEA Raises Oil Demand Outlook for 2024 for Third Consecutive Month

Global oil demand is set to rise by 1.2 million barrels per day (bpd) this year compared to 2023, the International Energy Agency (IEA) said on Thursday, raising its 2024 demand growth outlook for a third consecutive month. Although the IEA flagged today in its monthly report a significantly slower growth rate this year, due to “macroeconomic headwinds, tighter efficiency standards and an expanding EV fleet”, the Paris-based agency lifted its forecast for global oil demand growth by 180,000 bpd compared to the estimate from the previous…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/IEA-Raises-Oil-Demand-Outlook-for-2024-for-Third-Consecutive-Month.html

Top Oil and Financial Firms Made $424 Billion in Windfall Profits in Two Years

The biggest oil companies and the top financial institutions generated combined windfall profits of as much as $424 billion in the two years to June 2023, a report by ActionAid and Oxfam showed this week. ActionAid and Oxfam have looked at the 200 largest companies in the world by market capitalization to estimate their windfall profits, comparing the earnings in the two years up to June 2023 with profits in the four preceding years. Of these 200 companies, 14 were in fossil fuels and 22 in the banking sector, bringing the total to 36 companies…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Top-Oil-and-Financial-Firms-Made-424-Billion-in-Windfall-Profits-in-Two-Years.html

Pakistan Hits Militant Targets in Iran in Retaliatory Strike

Pakistan carried out early on Thursday a series of military strikes against terrorist hideouts in Iran’s southeastern province Sistan-Baluchestan, in the latest conflict escalation in the Middle East, two days after Iran targeted with missiles sites linked to militant group Jaysh al-Adlin in western Pakistan. Pakistan’s Ministry of Foreign Affairs said that “a number of terrorists were killed” during the operation based on intelligence. According to Iranian state TV and news agencies, three women and four children were killed.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Pakistan-Hits-Militant-Targets-in-Iran-in-Retaliatory-Strike.html

Nelson Peltz is launching a blitz on Disney. Here’s what he says is next in his proxy fight

Trian Fund Management will amp up its case to get Nelson Peltz and Jay Rasulo elected to the Disney board in the coming months.

Read more at: https://www.cnbc.com/2024/01/18/nelson-peltz-outlines-plans-for-disney-proxy-battle.html

Fed’s Raphael Bostic expects rate cuts to happen in the third quarter

The Atlanta Fed president said a “golden path” economic scenario is getting closer than many Fed officials had expected.

Read more at: https://www.cnbc.com/2024/01/18/feds-raphael-bostic-expects-rate-cuts-to-happen-in-the-third-quarter.html

Dow closes 200 points higher Thursday to shake off 3-day slump as Apple shares pop: Live updates

The tech-heavy Nasdaq Composite rose Thursday and turned positive for the year, boosted by tech gains.

Read more at: https://www.cnbc.com/2024/01/17/stock-market-today-live-updates.html

Passive investing rules Wall Street now, topping actively managed assets in stock, bond and other funds

As 2023 came to a close passive held more assets under management than active.

Read more at: https://www.cnbc.com/2024/01/18/passive-investing-rules-wall-street-now-topping-actively-managed-assets-in-stock-bond-and-other-funds.html

These stocks that are reporting earnings next week have momentum going for them

Watch these stocks that may be poised for a breakout alongside quarterly results next week.

Read more at: https://www.cnbc.com/2024/01/18/these-stocks-reporting-earnings-next-week-have-momentum-at-their-back.html

Red Sea attacks already bigger issue for supply chain than pandemic, maritime advisory warns

Houthi attacks on ships in the Red Sea are already having a bigger impact on the supply chain than Covid, according to data coming in on cargo vessel delays.

Read more at: https://www.cnbc.com/2024/01/18/red-sea-crisis-already-bigger-issue-for-shipping-than-covid-data-show.html

Amazon’s latest layoffs hit its Buy with Prime unit

Since the new year began, Amazon has laid off employees in its Prime Video, MGM Studios, Twitch and Audible divisions.

Read more at: https://www.cnbc.com/2024/01/18/-amazon-layoffs-hit-its-buy-with-prime-unit.html

Judge loses patience with Trump lawyer in E. Jean Carroll sex assault defamation trial

Donald Trump clashed with the judge and complained about E. Jean Carroll’s testimony during her first day on the stand in his sex assault defamation trial.

Read more at: https://www.cnbc.com/2024/01/18/trump-trial-e-jean-carroll-testimony-ex-president-judge-clash.html

Weekly jobless claims post lowest reading since September 2022

Initial filings for unemployment insurance totaled 187,000 for the week ended Jan. 13.

Read more at: https://www.cnbc.com/2024/01/18/weekly-jobless-claims-post-lowest-reading-since-september-2022.html

Senate passes stopgap bill to prevent a shutdown, sending it to the House

The bill would keep the government open on a short-term basis until March 1, when the first of two funding deadlines will hit. The second will be on March 8.

Read more at: https://www.cnbc.com/2024/01/18/senate-passes-stopgap-bill-to-prevent-a-shutdown-sending-it-to-the-house.html

U.S. executives in Davos see a Trump victory in 2024, and no cause for concern

Both publicly and privately, many U.S. executives at Davos expressed calm and readiness for a potential Donald Trump return to the White House.

Read more at: https://www.cnbc.com/2024/01/18/davos-us-executives-see-a-trump-victory-in-2024.html

The No. 1 challenge Fortune 500 execs say they’re facing with employees right now, according to new research

Bosses are still struggling to trust that their employees are working without constant in-office supervision, says Atlassian co-CEO Scott Farquhar.

Read more at: https://www.cnbc.com/2024/01/18/no-1-challenge-fortune-500-execs-say-theyre-facing-with-employees-new-research.html

The early winner in the bitcoin ETF race has raked in $1 billion

BlackRock’s iShares Bitcoin Trust looks to be an early winner among the bitcoin funds that were approved by regulators last week.

Read more at: https://www.cnbc.com/2024/01/18/the-early-winner-in-the-bitcoin-etf-race-has-raked-in-1-billion.html

Figuring It All Out

Submitted by QTR’s Fringe Finance

For two years, the question has been the same: when is something going to give, and when are we going to see some real volatility in some market — any market — thanks to 5% interest rates?

The answer, it turns out, may be simpler than I thought.

I gave up a long time ago trying to figure out whether the market is going to flash crash or melt up as a result of aggressive further easing. If I had to handicap the situation today, I’d predict both are going to happen: we will see a sharp decline in the market, as a result of either a black swan event, disappearing liquidity, an unexpected blowoff valve (more on this in a bit) or all of the above, which would trigger margin calls and a deleveraging. Then, from there, I would predict an unprecedented response from the Fed, who would flood the system with money and easing in a way that was larger by any factor than how they have done it in the past.

Whatever outcome occurs should be irrelevant thanks to the way that I positioned myself heading into the year. I’m hedged and short the indexes and a couple of specific names that I believe would plunge in the event of a market pullback. At the same time, I will be ready to use any profit from a sharp downturn to purchase sound money assets – namely, gold and silver, miners, first and foremost, and maybe some real estate and bitcoin – should they also wind up selling off in any type of panic that encompasses all assets.

Read more at: https://www.zerohedge.com/markets/figuring-it-all-out

Ballooning Credit & Rate Cuts: A Perfect Storm For Default

Via SchiffGold.com,

With consumer debt reaching record levels, the Federal Reserve contemplating rate cuts in 2024, and post-Covid inflation still yet to reach its peak, a storm is indeed brewing.

Price increases on essential goods like food, housing, and fuel are hitting hard for Average Americans. But in its policy to avoid economic reality as much as possible, the Fed’s CPI numbers don’t account for factors such as consumers buying cheap alternatives instead of the name brands that they used to easily afford.

Acting as de facto PR agencies for Federal Reserve monetary policy, some media outlets are claiming that Americans are making headway on their debts, it’s just that higher inflation is obscuring all their great progress.

Read more at: https://www.zerohedge.com/personal-finance/ballooning-credit-rate-cuts-perfect-storm-default

Senate Passes Stopgap, But House Freedom Caucus Insists On Border Measures

The Senate on Thursday passed a stopgap government funding bill by a vote of 77-18 that will extend a two-tiered shutdown from Jan. 19 and Feb 2, to March 1, and March 8.

The bill, which still has to pass the House, may be held up by demands from the House Freedom Caucus – which has made a last-minute appeal to Speaker Mike Johnson (R-LA) to add an amendment vote on border and migration policy measures.

The move could throw a wrench into plans to avoid the first phase of the shutdown on Friday, however a spokesperson for Johnson suggested there’s nothing to worry about (unless you care about unchecked illegal immigration).

“The plan has not changed. The House is voting on the stop gap measure tonight to keep the government open,” wrote Johnson spox Raj Shah on X in response to the Freedom Caucus’ demands.

The plan has not changed. The House is voting on the stop gap measure tonight to keep the government open.

Read more at: https://www.zerohedge.com/political/senate-passes-stopgap-house-freedom-caucus-insists-border-measures

Hunter Biden Not Protected From Gun Charges By 2nd Amendment: Federal Prosecutors

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The U.S. Constitution’s Second Amendment does not protect President Joe Biden’s son from felony gun charges, federal prosecutors said in a new brief.

“Anglo-American law has long recognized that the government may disarm those who, by their conduct or characteristics, present an increased risk to public safety if they possess firearms,” prosecutors said in the Jan. 16 filing. That means a U.S. law against gun ownership by people who use or are addicted to drugs can still stand under the U.S. Supreme Court’s 2022 decision that struck down restrictions in New York, they added.

Hunter Biden in Washington on Dec. 19, 2023. (Drew Angerer/Getty Images)

Read more at: https://www.zerohedge.com/political/hunter-biden-not-protected-gun-charges-2nd-amendment-federal-prosecutors

Post Office scandal: 91-year-old victim ‘disgusted’ with compensation delay

Ninety-one-year-old Betty Brown says she had to give up her business as she was caring for her ill husband.

Read more at: https://www.bbc.co.uk/news/business-68009767?at_medium=RSS&at_campaign=KARANGA

Tata Steel: Port Talbot blast furnaces to close with 3,000 expected job losses

Plans to cut jobs in a move to greener steelmaking a “crushing blow” for Port Talbot, unions say.

Read more at: https://www.bbc.co.uk/news/uk-wales-68022901?at_medium=RSS&at_campaign=KARANGA

LNER train drivers to strike for five more days

Aslef members are taking action after LNER told the union to provide minimum service levels.

Read more at: https://www.bbc.co.uk/news/business-68017576?at_medium=RSS&at_campaign=KARANGA

Epack Durables IPO opens tomorrow. What GMP signals ahead of subscription

Epack Durables IPO will open for subscription on Friday. The company’s shares are currently trading at a premium of Rs 15 in the unlisted market. The IPO consists of a fresh equity issue of up to Rs 400 crore and an offer for sale of up to 10,437,047 shares by selling shareholders. Epack Durables is the second-largest room air conditioner original design manufacturer in India, with a 24% market share in domestically manufactured units in FY23. The IPO proceeds will be used for capacity expansion.

Read more at: https://economictimes.indiatimes.com/markets/ipos/fpos/epack-durables-ipo-opens-tomorrow-what-gmp-signals-ahead-of-subscription/articleshow/106957781.cms

Paytm Q3 result preview: Losses to narrow on improved operating performance; solid revenue growth eyed

Paytm Q3 result preview: Paytm is expected to post solid revenue growth for Q3. Revenue from operations may grow 32% YoY and rise 8% sequentially. Losses are expected to narrow to Rs 280 crore. Analysts expect operating profit to increase, driven by improved contribution margin. In Q2, Paytm’s revenue from operations improved 32%.

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/paytm-q3-result-preview-losses-to-narrow-on-improved-operating-performance-solid-revenue-growth-eyed/articleshow/106945569.cms

Budget may disappoint stocks related to government capex: Jefferies

Jefferies said it is not expecting an immediate tax hike, considering elections, some post-election measures such as higher capital gains tax are possible during the year.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/budget-may-disappoint-stocks-related-to-government-capex-jefferies/articleshow/106948405.cms

The Dow claws back earlier losses as tech rally resumes despite rate-cut uncertainty

U.S. stocks were higher on Thursday, with technology stocks extending their gains in the final hour of trade, as optimism on artificial intelligence continued to drive semiconductor shares higher despite rising uncertainty about whether the Federal Reserve will cut interest rates as early as markets have expected.

Read more at: https://www.marketwatch.com/story/s-p-500-futures-rise-as-treasury-yields-dip-tsmc-results-support-nasdaq-d7d721b9?mod=mw_rss_topstories

Long-term Treasury yields hit new 2024 highs after drop in U.S. jobless claims

Ten- and 30-year Treasury yields finished at their highest levels of the year for a third straight session on Thursday after the release of lower-than-expected initial jobless claims.

Read more at: https://www.marketwatch.com/story/treasury-yields-dip-ahead-of-jobless-claims-and-housing-data-306f0cbe?mod=mw_rss_topstories

Oil prices finish higher as traders weigh demand outlook, Middle East supply threats

Oil futures finished higher on Thursday as traders weighed the outlook for demand, as well as risks to supply caused by strife in the Middle East.

Read more at: https://www.marketwatch.com/story/oil-prices-struggle-for-direction-as-traders-weigh-demand-worries-middle-east-supply-threats-4d09b1dc?mod=mw_rss_topstories