AI to Transform Solar Cell Production

Karlsruher Institut für Technologie (KIT) researchers and of two Helmholtz platforms – Helmholtz Imaging at the German Cancer Research Center (DKFZ) and Helmholtz AI -have succeeded in finding a way to predict the quality of the perovskite layers and consequently that of the resulting solar cells when assisted by machine learning. The new methods in artificial intelligence (AI), make it possible to assess their quality from variations in light emission during the manufacturing process. The report discussing the work has been published…

Read more at: https://oilprice.com/Alternative-Energy/Solar-Energy/AI-to-Transform-Solar-Cell-Production.html

Oil Market Needs $14 Trillion: OPEC Secretary General

The global oil market will require $14 trillion in investments over the next 20 years if oil-producing nations hope to be able to fulfill global energy demands through 2045, OPEC’s Secretary General Haitham al-Ghais said on Tuesday. According to the Secretary-General who spoke at India Energy Week in Goa, oil demand “will continue to rise and there is a need to ensure that supply is maintained.” Al-Gais added that globally, energy demand would rise between now and 2045 by 23 percent. India’s oil demand is expected to double by 2045 to 38 million…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Market-Needs-14-Trillion-OPEC-Secretary-General.html

New Study Reveals Greenwashing as Key Obstacle for ESG Funds

Investments into sustainable funds are reducing due to an increase in greenwashing and scepticism towards environment, social and governance focused investing, a new study has found. The whitepaper from Elise Gourier and Helene Mathurin at ESSEC Business School found that the issue of greenwashing had become “particularly prominent in the past five years”, especially within the financial industry. Greenwashing is when companies present misleading information about how environmentally friendly their products are. Through using natural…

Read more at: https://oilprice.com/Finance/the-Markets/New-Study-Reveals-Greenwashing-as-Key-Obstacle-for-ESG-Funds.html

U.S. Crude Oil Production To See Zero Growth This Year: EIA

U.S. crude oil production fell in January and isn’t expected to grow at all this year, the EIA said on Tuesday in its latest Short Term Energy Outlook. The Agency also lowered its U.S. oil demand forecast to 20.39 million barrels per day from its previous forecast of 20.45 million barrels per day. The cold snap that hit parts of the United States in January took crude oil production offline, causing daily production to fall to just 12.6 million barrels per day—down from 13.3 million bpd, the EIA said. And while the EIA expects U.S.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Crude-Oil-Production-To-See-Zero-Growth-This-Year-EIA.html

Global Steel Markets Navigate Through Turbulence and Transition

Via Metal Miner    Data from the World Steel Association (Worldsteel) released on January 25 indicates that global crude steel production remained largely unchanged year on year. Indeed, steel market analysis says poured liquid steel totaled 1.88 billion metric tons last year, which is similar to the volume poured in 2022. The association also stated that crude steel production in December was 136 million metric tons, down 5.3% from over 143 million metric tons during the same month the previous year. Asian Steel Market Figures One analyst…

Read more at: https://oilprice.com/Metals/Commodities/Global-Steel-Markets-Navigate-Through-Turbulence-and-Transition.html

Diesel Prices Set to Spike This Year: Kemp

Diesel prices are below normal—and they could rise this year as North American and Western European economies come out of a teetering recession this year and business activity perks up. Diesel, heating oil, and gas oil inventories have been hovering below the ten-year seasonal average across North America, Europe, and Singapore in January, which has been placing upward pressure on fuel prices. According to Reuters, investors have already acquired a position of 56 million barrels in the two major futures and options contracts for middle distillates,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Diesel-Prices-Set-to-Spike-This-Year-Kemp.html

Cross-Border Energy Cooperation Grows Between Tajikistan and Afghanistan

Tajikistan may not recognize the Taliban government of neighboring Afghanistan, but the two countries are starting to cooperate better on trading electricity. On February 1, Energy and Water Resources Minister Daler Juma informed reporters that Afghanistan had fully paid off its debts for power delivered to date.  Kabul has since 2021 proven an unreliable customer. While regularly paying off part of its dues to Tajikistan, it has struggled to clear its debts outright. In 2023, Tajikistan exported 2.7 billion kilowatt-hours of electricity,…

Read more at: https://oilprice.com/Energy/Energy-General/Cross-Border-Energy-Cooperation-Grows-Between-Tajikistan-and-Afghanistan.html

U.S. Natural Gas Consumption Hits New Record

The consumption of natural gas in the United States reached a new record on January 16, 2024, the Energy Information Administration said on Tuesday. On January 16, a record amount of natural gas was consumed in the United States Lower 48 states. A record 141.5 billion cubic feet (Bcf) was consumed on that day, beating the previous record set on December 23, 2022, the EIA said, citing estimates from S&P Global Commodity Insights. Data source S&P Global Commodity Insights From January 14 to January 21 of this year, natural gas consumption…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Natural-Gas-Consumption-Hits-New-Record.html

Uzbekistan and China Quietly Cement Regional Alliance

While the U.S., Russia and Europe are trying to quell (or aggravate) crises simultaneously in Ukraine, Iraq, Syria, Israel/Gaza, the Persian Gulf and the Red Sea/Yemen, Uzbekistan and China have quietly elevated their partnership.  Uzbek President Shavkat Mirziyoyev made a state visit to China on Jan. 23-25, visiting Beijing and Shenzen. While there he met with China’s President Xi Jinping and Premier Li Qiang. The meeting between the Uzbek and Chinese delegations produced numerous announcements and…

Read more at: https://oilprice.com/Geopolitics/Asia/Uzbekistan-and-China-Quietly-Cement-Regional-Alliance.html

Russia’s Domestic Diesel Supply Jumps by 17% in January

Diesel supply on the Russian market jumped by 17% in January while gasoline supply increased by 7%, Russian Deputy Prime Minister Alexander Novak said on Tuesday, a few months after the government restricted in the autumn fuel exports to ensure stable domestic supplies. “Measures have been taken to increase the volume of gasoline production and to reduce the export of oil products by the volumes that allowed us to increase the volume of supplies to the domestic market in January for gasoline – by 7%, for diesel – by 17%,” Russian news…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Domestic-Diesel-Supply-Jumps-by-17-in-January.html

U.S. Thermal Coal Finds New Life Overseas

US thermal coal exporters recorded more than $5 billion in overseas sales in 2023, shipping upwards of 32.5 million metric tons of the high-polluting power fuel, according to Reuters, citing data from ship-tracking firm Kpler. These coal export earnings were the second highest since 2017, trailing only behind 2022’s $5.7 billion. This comes as US utility coal usage for electricity generation tumbles to the lowest in this century.  Reuters points out diverging trends between sliding domestic coal use at power plants and a surge in coal exports.…

Read more at: https://oilprice.com/Energy/Coal/US-Thermal-Coal-Finds-New-Life-Overseas.html

BP Boosts Share Buybacks as Earnings Exceed Estimates

BP (NYSE: BP) is accelerating share buybacks as it looks to return more cash to shareholders after posting Q4 and full-year 2023 earnings above expectations.   BP reported on Tuesday an underlying replacement cost profit – the closest metric to net profit –of $3.0 billion for the fourth quarter, compared with $3.3 billion for the previous quarter. The earnings beat analyst estimates of $2.76 billion. Full-year earnings of $13.83 billion were half the record-high level of $27.65 billion earnings for 2022, when Big Oil…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/BP-Boosts-Share-Buybacks-as-Earnings-Exceed-Estimates.html

Looming Demand Weakness Keeps Oil Prices Under Pressure

Oil markets are once again focused on looming demand weakness, capping oil prices despite rising tensions in the Middle East.Chart of the Week- As India holds its second-ever India Energy Week in Goa, the world’s leading oil exporters have flocked to discuss new fields with a country that is poised to overcome China next year as the world’s fastest-growing source of oil demand.- Prime Minister Narendra Modi pledged that India would see an investment of $67 billion in its energy sector over the next 5 years, seeking to almost double…

Read more at: https://oilprice.com/Energy/Energy-General/Looming-Demand-Weakness-Keeps-Oil-Prices-Under-Pressure.html

Russia’s New LNG Project Stumbles as U.S. Sanctions Delay Ship Delivery

Japan’s shipping giant Mitsui OSK Lines is unable to deliver ice-breaker class ships to Russia’s new LNG export project in the Arctic because of the U.S. sanctions levied on the project’s operator at the end of last year, the president of the Japanese firm told Bloomberg in an interview on Tuesday. The U.S. sanctions on Russia’s latest LNG project, Arctic LNG 2 of the largest Russian LNG exporter, Novatek, have upended the company’s plans for production start-up and export timelines.   In November, the…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-New-LNG-Project-Stumbles-as-US-Sanctions-Delay-Ship-Delivery.html

Russia’s Novatek Opens China Office to Sell Natural Gas Amid Tighter Sanctions

Amid U.S. sanctions stalling progress on natural gas exports from a new Arctic LNG plant, Russian gas producer Novatek is opening an office in China and creating a team based there to sell gas, Reuters reported on Tuesday, citing sources with knowledge of the plans.   Novatek, which is the biggest LNG producer and exporter in Russia, has been working to set up a marketing and business development team based in China for months, according to multiple undisclosed sources who spoke to Reuters. Novatek’s new Arctic LNG 2 project…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Novatek-Opens-China-Office-to-Sell-Natural-Gas-Amid-Tighter-Sanctions.html

Bolts appeared to be missing from Boeing 737 Max door plug that blew off midflight, NTSB says

The NTSB’s preliminary report comes about a month after a door plug blew out of an Alaska Airlines’ 737 Max 9.

Read more at: https://www.cnbc.com/2024/02/06/ntsb-boeing-737-max-9-report-bolts-appeared-missing-from-alaska-air-plane.html

Palantir shares rocket 30% after revenue beat, strong demand for AI

Shares of Palantir popped Tuesday after the company released fourth-quarter earnings that surpassed analysts’ expectations for revenue.

Read more at: https://www.cnbc.com/2024/02/06/palantir-shares-rocket-25percent-after-revenue-beat-strong-demand-for-ai.html

Toyota investing $1.3 billion in Kentucky to build all-electric, three-row SUV

It comes as consumer adoption for EVs has been slower than many expected, causing some automakers to delay or cut investment plans for all-electric vehicles.

Read more at: https://www.cnbc.com/2024/02/06/toyota-to-invest-1point3-billion-for-large-all-electric-suv-in-kentucky.html

New York Community Bancorp stock falls 22% as slump extends

Shares of New York Community Bancorp dived another 14% on Tuesday, extending a sell-off since the lender reported a surprise quarterly loss last week.

Read more at: https://www.cnbc.com/2024/02/06/new-york-community-bancorp-stock-value-set-to-halve-as-slump-extends.html

Electricity demand from data centers, AI and crypto could double in 2 years. How to play it

From data center operators to suppliers, Barclays has a myriad of entry points for investors looking to capitalize on booming electricity demand.

Read more at: https://www.cnbc.com/2024/02/06/electricity-demand-from-data-centers-ai-and-crypto-could-double-in-2-years-how-to-play-it.html

Ford Motor is set to report earnings after the bell. Here’s what Wall Street expects

Aside from its earnings, Wall Street will be watching Ford’s 2024 guidance. Analysts expect it to be flat to slightly lower compared to 2023.

Read more at: https://www.cnbc.com/2024/02/06/ford-f-q4-2023-earnings.html

Credit card delinquencies surged in 2023, indicating ‘financial stress,’ New York Fed says

Debt that has transitioned into “serious delinquency,” or 90 days or more past due, increased across the board during the year,

Read more at: https://www.cnbc.com/2024/02/06/credit-card-delinquencies-surged-in-2023-indicating-financial-stress-new-york-fed-says.html

Chipotle Mexican Grill is about to report earnings. Here’s what to expect

Chipotle shares have risen 46% over the past year, bringing the company’s market cap to $67.9 billion.

Read more at: https://www.cnbc.com/2024/02/06/chipotle-mexican-grill-cmg-q4-2023-earnings.html

Amazon cuts hundreds of jobs in Pharmacy, One Medical units: Read the memo

Amazon has continued to announce job cuts this year after more than a year of mass layoffs.

Read more at: https://www.cnbc.com/2024/02/06/amazon-cuts-hundreds-of-jobs-cut-in-pharmacy-one-medical-read-memo.html

Tucker Carlson set to interview Vladimir Putin

Carlson would become the first member of the Western media to interview the Russian leader since Russia’s invasion of Ukraine, almost two years ago.

Read more at: https://www.cnbc.com/2024/02/06/tucker-carlson-set-to-interview-vladimir-putin.html

Somali pirates are back on the attack at a level not seen in years, adding to global shipping threats

Somali piracy has risen sharply adding to maritime shipping threats in a region of the world already dealing with Red Sea chaos caused by Houthi attacks.

Read more at: https://www.cnbc.com/2024/02/06/somali-pirates-are-back-on-the-attack-at-a-level-not-seen-in-years.html

Leon Cooperman says ‘too rich’ stocks to go down, and long-term rates could go higher this year

Leon Cooperman believes the stock market with hefty valuations could see losses this year, while long-duration Treasury yields could test higher again.

Read more at: https://www.cnbc.com/2024/02/06/leon-cooperman-says-too-rich-stocks-to-go-down-and-long-term-rates-could-go-higher.html

Here’s who could be next to pay a dividend after Meta’s big announcement, according to Goldman

Goldman Sachs conducted a modeled historical analysis to determine which companies have a high probability of initiating a dividend.

Read more at: https://www.cnbc.com/2024/02/06/heres-who-could-be-next-to-pay-a-dividend-after-metas-big-announcement-according-to-goldman.html

Schumer Lashes Out At Trump For Killing Open-Border Ukraine Deal

Apparently unaware that the $118 Senate ‘security’ package has been exposed as an anti-American slush fund for Ukraine, Senate Majority Leader Chuck Schumer (D-NY) has blamed former President Donald Trump for killing it.

“Too many Republicans, including Speaker Johnson, are scared of Donald Trump,” said Schumer – who appeared on MSNBC to suggest that America will regret not helping Ukraine and Israel right now.

BREAKING: Dems Senate Leader Chuck Schumer (@SenSchumer) EXPLODES, says if the bill is killed, America will regret it, Ukraine will lose the war, Israel will not defeat Hamas, Palestinians will starve to death and Americans might fight in Europe. WATCHpic.twitter.com/Qk0gLIKxpq

— Simon Ateba (@simonateba)

Read more at: https://www.zerohedge.com/political/118b-ukraine-slush-fund-border-deal-dead-senate-amid-gop-revolt

Why Burn Books When You Can Bury Them? The White House Pressured Amazon To Target Dissenting Books

Authored by Jonathan Turley,

The House Select Subcommittee on the Weaponization of the Federal Government on Monday revealed yet another facet of the Biden Administration’s sprawling censorship system that targeted dissenting books.

It appears that, as with social media companies, it succeeded in getting the company not to promote disfavored books.

Judiciary Chairman Jim Jordan revealed on X that the White House was directly involved in the censorship campaign.

That includes a 2021 email from one Biden official asking to discuss “the high levels of propaganda and misinformation and disinformation of [sic] Amazon?”

Amazon in turn app …

Read more at: https://www.zerohedge.com/political/why-burn-books-when-you-can-bury-them-white-house-pressured-amazon-target-dissenting

NTSB Finds Alaska Air Boeing 737 Max Jet Had Missing Door Bolts

A preliminary report released by the National Transportation Safety Board finds the mid-air incident with an Alaska Airlines Boeing 737 Max 9 jet last month was caused by a door plug that had not been properly attached before Boeing Co. delivered the plane.

NTSB issues the preliminary report for its ongoing investigation of the Jan. 5 Alaska Airlines flight 1282 door plug accident. The report is on the NTSB investigation web page: https://t.co/nK5xY7ly9D pic.twitter.com/DiBlVlHV43

— NTSB Newsroom (@NTSB_Newsroom) February 6, 2024

NTSB said the Max 9 jet was missing four bolts, which were supposed to serve as a fail-safe mechanism for securing the panel to the fuselage.

X user Jason Rabinowitz, who reviewed the report, cited a line from NTSB’s report: “Four bolts that prevent upward movement of the MED plug were missing before the MED plug moved upward off the stop pads.”

The @NTSB has released its preliminary report on the #AS1282 #737MAX-9 door plug accident. …

Read more at: https://www.zerohedge.com/markets/ntsb-finds-alaska-air-boeing-737-max-jet-had-missing-door-bolts

Millennials Own Less Than Half The Real Estate Wealth Of Boomers… Can They Catch Up?

Authored by Dan Runkevicius via CreditNews.com,

The dream of homeownership is slipping away for younger generations—thanks to a vicious cycle of high mortgage rates and a chronically low supply of houses.

According to the National Association of Realtors (NAR), millennials were the most active homebuyers from 2014 through 2021. Not anymore.

Since early 2023, boomers have overtaken millennials, making up 39% of homebuyers—the most of any generation. That’s a whopping 29% jump from a year before. Meanwhile, Gen Zers are trailing woefully behind, accounting for just 4% of home transactions, according to the latest NAR data.

The way the housing market is, the trend isn’t likely to reverse anytime soon.

The worst housing market for first-time buyers? …

Read more at: https://www.zerohedge.com/geopolitical/millennials-own-less-half-real-estate-wealth-boomers-can-they-catch

Boeing: Bolts missing from door, says blowout report

A door that blew away from a Boeing 737 Max may not have been properly secured, a new report says.

Read more at: https://www.bbc.co.uk/news/business-68220627?at_medium=RSS&at_campaign=KARANGA

WeWork’s ousted boss plots buyback of bankrupt firm

Lawyers for Adam Neumann claim the leaders of his former company are stonewalling his approaches.

Read more at: https://www.bbc.co.uk/news/business-68220179?at_medium=RSS&at_campaign=KARANGA

Prime Minister Rishi Sunak claims cost of living pressures starting to ease

As millions get a final cost of living payment, Rishi Sunak says the burden on households is subsiding.

Read more at: https://www.bbc.co.uk/news/business-68204195?at_medium=RSS&at_campaign=KARANGA

Rashi Peripherals IPO opens on Wednesday. What GMP signals ahead of subscription

Rashi Peripherals IPO: The company has fixed a price band of Rs 295-311 per share and investors can bid for a minimum of 48 shares and in multiples thereafter. It proposes to use the net proceeds for repayment of debt, funding working capital requirements and the rest for general corporate purposes.

Read more at: https://economictimes.indiatimes.com/markets/ipos/fpos/rashi-peripherals-ipo-opens-on-wednesday-what-gmp-signals-ahead-of-subscription/articleshow/107464160.cms

Tech View: Nifty forms hammer candle on charts. What traders should do on Wednesday

Nifty exhibited a predominantly sideways trend throughout the day, with traders expressing uncertainty regarding the market’s direction. A range-bound movement is expected to persist until a breakout occurs on either side. A decisive upward move beyond 21,950 has the potential to propel the Nifty towards 22,200.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-hammer-candle-on-charts-what-traders-should-do-on-wednesday/articleshow/107462796.cms

BLS E-Services jumps 172% over IPO price after stellar listing. Should investors hold or sell now?

Analysts said investors who got the allotment can book partial while holding the rest for the medium term. BLS E-Services enjoys a long-standing partnership with leading banks, ensuring a stable revenue stream and recurring business. It operates in a high-growth industry driven by increased digitization and financial inclusion initiatives.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/bls-e-services-jumps-172-over-ipo-price-after-stellar-listing-should-investors-hold-or-sell-now/articleshow/107455193.cms

Treasury yields finish lower as buyers return and Fed officials reiterate need to hold off on rate cuts

Treasurys snapped two days of losses on Tuesday as buyers returned to the U.S. government-debt market and Federal Reserve officials reiterated the need to keep interest rates unchanged.

Read more at: https://www.marketwatch.com/story/treasury-yields-dip-after-surge-higher-following-strong-data-and-hawkish-fedspeak-c3efce43?mod=mw_rss_topstories

AMC’s stock rallies more than 11%, on pace for biggest gain since August

Tuesday’s rally was the stock’s biggest single-day percentage gain since Aug. 30, when it rose 16.7%.

Read more at: https://www.marketwatch.com/story/amcs-stock-rallies-more-than-11-on-pace-for-biggest-gain-since-august-39b9f239?mod=mw_rss_topstories

Cannabis stocks gain as Pennsylvania governor prioritizes legalizing adult-use pot

Democratic Pennsylvania Gov. Josh Shapiro estimates $250 million in taxes for the state if adults over 21 are allowed to buy pot.

Read more at: https://www.marketwatch.com/story/cannabis-stocks-gain-as-pennsylvania-governor-prioritizes-legalizing-adult-use-pot-b6f02c51?mod=mw_rss_topstories