Solar Panel Waste is Becoming a Big Problem

Via Metal Miner Numerous factors continue to pull at the Renewables MMI (Monthly Metals Index) as it moves through Q1. This past month, the index largely moved sideways, only exhibiting a slight upward movement of 1.66%. Meanwhile, renewable energy news indicated that metals like cobalt and silicon could remain in oversupply for some time. Moreover, expanding mining operations in DRC continue to add cobalt to the already-abundant global stockpile. With steel prices flattening, the index continues to move steadily sideways. Solar Panels: A “Dirty”…

Read more at: https://oilprice.com/Alternative-Energy/Solar-Energy/Solar-Panel-Waste-is-Becoming-a-Big-Problem.html

Lithium Price Slump? Exxon Says No Problem

The price of lithium may have fallen and Albemarle may consider them to be “unsustainable”, but Exxon isn’t giving up on its lithium expansion plans, Exxon’s lithium global business manager said in a Bloomberg interview. Lithium suppliers have been reining in spending and even production as a slowing of EV demand collided with new lithium mine startups. Prices are off record 2022 highs by as much as 80%, but Exxon is insistent that its future in lithium is bright. “We’ve seen a redoubling of efforts from customers…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Lithium-Price-Slump-Exxon-Says-No-Problem.html

Cutting-Edge Experiments Lead to Breakthrough in Superconductor Development

An international team that includes Rutgers University-New Brunswick scientists has developed a new method to make and manipulate a widely studied class of high-temperature superconductors. This technique should pave the way for the creation of unusual forms of superconductivity in previously unattainable materials. The article reporting the new work has been published in Science. When cooled to a critical temperature, superconductors can conduct electricity without resistance or energy loss. These materials have intrigued physicists for decades…

Read more at: https://oilprice.com/Energy/Energy-General/Cutting-Edge-Experiments-Lead-to-Breakthrough-in-Superconductor-Development.html

Russia’s Crude Processing Rates Drop in February

Russia’s daily crude oil processing has dropped by 4% so far in February compared to the first half of January, and by 8.6% versus the first half of February 2023, according to Reuters’ sources and calculations. The drop comes as Russian refineries and other energy infrastructure have been targeted and hit by Ukrainian drone attacks in recent weeks. Refineries in Russia processed 711,000 tons of crude oil per day in the first half of February 2024, down from 752,000 tons for the first two weeks of January and 778,000 tons…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Crude-Processing-Rates-Drop-in-February.html

UK Battery Storage Firms Wrestle with Financial Turmoil

Developing the UK’s battery storage capacity is crucial to the green transition.  One of the downfalls of renewable energy, such as wind and solar, is that it is beholden to the elements and can’t always provide a continuous output of power.  But if that renewable energy can be stored in batteries when it isn’t being used, suddenly it becomes a lot easier to call upon in times of high demand.  So beginning in 2018, a number of specialist battery storage investment trusts, along with many of the big energy players,…

Read more at: https://oilprice.com/Energy/Energy-General/UK-Battery-Storage-Firms-Wrestle-with-Financial-Turmoil.html

Iraqi Kurdistan Oil Export Restart Still A Way Off

There is no forecasted date for when oil exports from Iraq’s semi-autonomous Kurdistan region to Turkey will resume, a Patriotic Union of Kurdistan (PUK) leader said on Friday. On the sidelines of the Munich Security Conference on Friday, Bafel Talabini told Argus that the relationship between Baghdad and Erbil was a “very delicate” one, and one wrong negotiating move could upend the entire process of restarting pipeline exports to Turkey. For months, the pipeline between the two countries has been out of commission since March…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Iraqi-Kurdistan-Oil-Export-Restart-Still-A-Way-Off.html

U.S. Drillers Pump The Breaks

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 2 to 621 this week, compared to 760 rigs this same time last year. The number of oil rigs fell by 2 this week after no movement in the week prior, falling to 497–down by 110 compared to this time last year. The number of gas rigs stayed the same this week at 121, a loss of 30 active gas rigs from this time last year. Miscellaneous rigs stayed at 3. Meanwhile, U.S.…

Read more at: https://oilprice.com/Energy/Crude-Oil/US-Drillers-Pump-The-Breaks.html

Oxy’s $12-Billion Permian Acquisition Delayed as Regulator Seeks More Info

Occidental Petroleum expects the closing of its $12-billion deal to buy CrownRock to be delayed to the second half of 2024 as the Federal Trade Commission (FTC) has asked for additional information while it reviews the proposed transaction.   At the end of last year, Oxy said it would buy Permian oil and gas producer CrownRock for cash and stock in a deal valued at around $12 billion, including debt, with which it joined the wave of recent mergers and acquisitions in the U.S. oil industry. The acquisition will boost Occidental’s…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oxys-12-Billion-Permian-Acquisition-Delayed-as-Regulator-Seeks-More-Info.html

Can Hydrogen Cars Compete With EVs?

Hydrogen could be the next big thing in the automotive world. In its pathway to net zero by mid-century, the International Energy Agency projects that hydrogen will account for a full 16% of road transport. Moreover, some industry insiders believe that cars powered by hydrogen, either by combusting it like gasoline or by incorporating it into a fuel cell, could even overtake the prevalence of battery-powered electric vehicles in the coming years. Others think that’s a gross overestimation. But everyone agrees that hydrogen will likely…

Read more at: https://oilprice.com/Energy/Energy-General/Can-Hydrogen-Cars-Compete-With-EVs.html

TC Energy Books Record Earnings amid High Natural Gas Demand

TC Energy Corporation reported on Friday record comparable core earnings and earnings per share for 2023, topping analyst estimates, as demand for natural gas and LNG surged. The Canada-based pipeline giant booked US$8 billion (C$11.0 billion) in earnings before interest, tax, depreciation, and amortization (EBITDA) for 2023, up by 11% compared to 2022. Comparable earnings per common share rose by 5% annually to US$3.35 (C$4.52) in 2023. TC Energy’s deliveries to power generators on its U.S. Natural Gas Pipelines continued to grow,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/TC-Energy-Books-Record-Earnings-amid-High-Natural-Gas-Demand.html

Opposition Leader and Putin Critic Alexey Navalny Dies in Prison

Alexey Navalny, who was imprisoned in a penal colony in Russia’s Arctic Circle, has died, Russia’s prison service said on Friday. Navalny, 47, was a fierce critic of Putin’s regime and his circle of cronies, and was serving a 19-year prison sentence, which was seen by many as politically motivated and aimed at stifling Putin’s critics and opposition.   The Russian prison service system said today that Navalny “felt unwell” after a walk on Friday, and “almost immediately lost consciousness.”…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Opposition-Leader-and-Putin-Critic-Alexey-Navalny-Dies-in-Prison.html

Are OPEC+ Members Ignoring 2024 Production Cuts?

Oil prices continued their sideways journey, with some bullishness emerging from weak US retail sales swiftly quashed by new escalation in the Middle East, with Israel attacking Rafah and the Houthis expected to retaliate soon. Friday, February 16, 2024 Market whispers are starting to emerge that OPEC+’s 2024 production cuts seem to be ignored by the oil group members, however that is yet to make an impact on Brent, still hovering around the $82 per barrel mark. Congress Votes to Overturn Biden’s LNG Pause. The US House of Representatives…

Read more at: https://oilprice.com/Energy/Energy-General/Are-OPEC-Members-Ignoring-2024-Production-Cuts.html

Eni Smashes Earnings Estimates with Record Gas Performance

Eni’s (NYSE: E) fourth-quarter and 2023 earnings exceeded consensus estimates as “record-breaking” performance in the gas and LNG division offset weaker oil and gas prices and refining margins.  The Italian energy major reported on Friday adjusted net profit of $1.76 billion (1.64 billion euros) for the fourth quarter, down by 34% on the year, but slightly higher than analyst expectations.  For the full year 2023, Eni’s adjusted net profit fell by 38% to $8.9 billion (8.3 billion euros), due to weaker…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Eni-Smashes-Earnings-Estimates-with-Record-Gas-Performance.html

Wind and Solar Growth in China Not Enough to Offset Coal Expansion

In 2023, China’s economy expanded by 5.3%. This would have been an impressive number worth celebrating for any other country. For China, however, the number was widely seen as a disappointment—even though it exceeded analyst expectations. As a result of these apparently disappointing developments, analysts expect Beijing to lean heavily on stimulus this year. And this would mean higher emissions. The link between economic growth and cheap energy is one that does not get much public attention since that attention tends to be…

Read more at: https://oilprice.com/Energy/Energy-General/Wind-and-Solar-Growth-in-China-Not-Enough-to-Offset-Coal-Expansion.html

Traders Cautiously Optimistic About Crude

Weekly Performance and Overview As the week concludes, West Texas Intermediate (WTI) crude oil is experiencing a modest gain, increasing by approximately 1.35%. This movement reflects the interplay of global economic data, currency fluctuations, and geopolitical developments. US Economic Data and Dollar’s Influence A significant factor in this week’s oil price movement has been the U.S. economic data, particularly the January retail sales figures, which showed a 0.8% decrease. This decline was more substantial than expected, resulting in…

Read more at: https://oilprice.com/Energy/Oil-Prices/Traders-Cautiously-Optimistic-About-Crude.html

Dow slides more than 100 points Friday, major averages end 5-week winning run: Live updates

Another hotter-than-anticipated inflation report sent the major stock indexes down on Friday.

Read more at: https://www.cnbc.com/2024/02/15/stock-market-today-live-updates.html

Trump fined more than $350 million in New York business fraud case

The fraud trial ruling comes as Donald Trump seeks the Republican presidential nomination, setting up a likely rematch with President Joe Biden.

Read more at: https://www.cnbc.com/2024/02/16/trump-fraud-trial-judge-engoron-verdict-ny-ag-business-case.html

Mortgage rates shoot to 2-month high after new report shows inflation is still hot

The average rate on the 30-year fixed mortgage jumped to 7.14%, according to Mortgage News Daily. That is the highest level in two months.

Read more at: https://www.cnbc.com/2024/02/16/mortgage-rates-shoot-to-2-month-high-after-hot-inflation-report.html

UAW threatens to strike Ford truck plant in Kentucky if local issues aren’t resolved

The union said “core issues” at the plant include health and safety as well as “Ford’s continued attempts to erode the skilled trades at Kentucky Truck Plant.”

Read more at: https://www.cnbc.com/2024/02/16/uaw-threatens-to-strike-ford-kentucky-truck-plant-over-local-demands.html

This little-known bank is offering one of the highest CD rates

There’s a bank whose shares are getting pummeled in 2024, but it’s still offering an attractive yield on short-term CDs.

Read more at: https://www.cnbc.com/2024/02/16/you-wont-believe-the-bank-thats-offering-one-of-the-highest-cd-rates.html

10-year Treasury yield spikes above 4.3% after hot producer prices report

U.S. Treasury yields were higher on Friday as investors considered fresh economic data and what it could mean for monetary policy.

Read more at: https://www.cnbc.com/2024/02/16/us-treasury-yields-as-investors-weigh-latest-economic-data.html

Coinbase shares pop after posting first quarterly profit since Q4 2021: 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, Crypto World explores what it means for the industry, markets and customers with tied up funds now that several crypto companies are emerging from bankruptcy.

Read more at: https://www.cnbc.com/video/2024/02/16/coinbase-shares-pop-after-posting-first-quarterly-profit-since-2021-cnbc-crypto-world.html

What will retail look like in five years? Top industry executives share their predictions

CNBC spoke with a dozen of the retail industry’s top executives and leaders to get a sense of what’s next for the retail industry.

Read more at: https://www.cnbc.com/2024/02/16/future-of-retail-predictions.html

Shopping online at 2 a.m.? That’s a red flag for buy now, pay later lender Affirm

Affirm, run by PayPal co-founder Max Levchin, is among a new breed of fintech lenders competing against credit cards issued by banks.

Read more at: https://www.cnbc.com/2024/02/16/affirm-buy-now-pay-later-vendor-discusses-loans-delinquencies.html

Microsoft, Google, Amazon and tech peers sign pact to combat election-related deepfakes

A group of 20 leading tech companies on Friday announced a joint commitment to combat AI misinformation heading into the 2024 elections.

Read more at: https://www.cnbc.com/2024/02/16/tech-and-ai-companies-sign-accord-to-combat-election-related-deepfakes.html

Foremost Group CEO Angela Chao died after car went into Texas pond, sheriff says

Angela Chao, CEO of Foremost Group and sister-in-law of Senate Minority Leader Mitch McConnell, “succumbed from being under the water,” authorities said.

Read more at: https://www.cnbc.com/2024/02/16/foremost-group-ceo-angela-chao-died-after-car-went-into-texas-pond.html

World leaders react to reports of Navalny’s death; Yulia Navalnaya says Putin won’t go unpunished

World leaders on Friday reacted with dismay to reports of the death of prominent Russian opposition leader Alexei Navalny in a Siberian penal colony.

Read more at: https://www.cnbc.com/2024/02/16/world-leaders-react-to-reports-of-putin-critic-navalnys-death.html

NY Judge Hits Trump With $364 Million Penalty For Alleged Fraud

New York Judge Arthur Engoron has ordered former President Donald Trump to pay $364 million for allegedly defrauding banks in order to acquire loans and other benefits – loans which the banks themselves testified they were satisfied with after doing their own due diligence.

Trump is also barred “from serving as an officer or director of any New York corporation or other legal entity in New York for a period of three years,” while his sons have been barred from serving as New York executives for two years.

New York Attorney General Letitia James had sought $370 million from Trump, his company, and its top executives for what she claimed was “repeated and persistent fraud” – which included allegations of falsifying records and financial statements to the tune of as much as $2.2 billion.

Read more at: https://www.zerohedge.com/political/ny-judge-hits-trump-364-million-penalty-alleged-fraud

House Refuses To Pass Another Shutdown Stopgap As Centrists Craft Pared-Down Ukraine Package

House Refuses To Pass Another Shutdown Stopgap As Centrists Craft Pared-Down Ukraine PackageThe #3 Republican in the House on Thursday said that the chamber will not pass another temporary spending bill which would avert a partial government shutdown when the next deadline expires on March 1. A second tranche of funding for US agencies runs out on March 8.

“You are not going to get another continuing resolution out of our conference,” said Rep. Tom Emmer (R-MN), in an interview on Bloomberg Television.

Emmer’s comments came as the House left Washington for a two-week recess until Feb. 28, just days before the first deadline.

That said, Emmer did seem hopeful that a shutdown could be averted with several upcoming spending bills just ahead of the deadline.

“When we come back the key is what are the packages that are put on the floor,” he said. “We should be there before the first deadline of March 1.”

Those comments echo those of R …

Read more at: https://www.zerohedge.com/political/house-refuses-pass-another-shutdown-stopgap-centrists-craft-pared-down-ukraine-package

Life-Long Charity Volunteer Fired For Not Understanding Pronouns

Authored by Steve Watson via Modernity.news,

A woman who has volunteered at a charity organisation for 60 years of her life was told she is no longer welcome after she became confused when asked to reveal what pronouns she goes by.

90-year-old Fran Itkoff was dismissed by the National Multiple Sclerosis Society in California following an email exchange in which she was asked by a worker to use her pronouns when signing off.

“I had seen it on a couple of letters that had come in after the person’s name. But I didn’t know what it meant,” Mrs Itkoff told Libs of Tiktok’s Chaya Raichik.

Read more at: https://www.zerohedge.com/political/life-long-charity-volunteer-fired-not-understanding-pronouns

Harvard Slapped With Congressional Subpoena Over “Failure To Satisfy” Antisemitism Probe

On Friday morning, the House Education and the Workforce Committee revealed on social media platform X that it is serving subpoenas to Harvard Corporation Senior Fellow Penny Pritzker, Interim President Dr. Alan Garber, and Harvard Management Company’s Chief Executive Officer N.P. Narvekar “for failing to produce priority documents related to the Committee’s antisemitism investigation.”

Today, @EdWorkforceCmte is subpoenaing Harvard for failing to produce priority documents related to the Committee’s antisemitism investigation.

This is the first time in the Committee’s history that a university has been subpoenaed.

Read @virginiafoxx’s full statement: pic.twitter.com/DRW1vSINN7

— House Committee on Education & the Workforce (@EdWorkforceCmte) February 16, 2024

Committee Chair Virginia Foxx, a Republican from North Carolina, wrote in a statement:

“I am extremely disappointed in the path that Harvard has chosen to take in the Committee’s investigation. Over the course of this investigation, Harvard has toute …

Read more at: https://www.zerohedge.com/political/harvard-slapped-congressional-subpoena-over-failure-satisfy-antisemitism-probe

Shop sales rebound in January as people sought new year deals

Retail figures reveal a 3.4% sharp rise at the beginning of 2024 following December’s record fall.

Read more at: https://www.bbc.co.uk/news/business-68314197?at_medium=RSS&at_campaign=KARANGA

Household energy bills predicted to fall by nearly £300 a year

Cornwall Insight forecasts a 15% drop, taking the typical annual bill to £1,635 – the lowest in two years.

Read more at: https://www.bbc.co.uk/news/business-68316283?at_medium=RSS&at_campaign=KARANGA

NatWest unveils highest yearly profit for 26 years

Paul Thwaite is the bank’s new boss replacing Alison Rose who resigned after a row over Nigel Farage’s account.

Read more at: https://www.bbc.co.uk/news/business-68315019?at_medium=RSS&at_campaign=KARANGA

Tech View: Nifty ready to test all-time peak levels. What traders should do next week

The short-term moving averages are below the price action and should continue to support the indices on every decline. With 22,000 acting as immediate support to watch out for, the bigger area of support stands at 21,800-850.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-ready-to-test-all-time-peak-levels-what-traders-should-do-next-week/articleshow/107755184.cms

Macro, mania and Modi may support overvalued Indian stock market: Kotak Equities

Kotak said it finds most sectors and stocks quite overvalued in the context of historical valuations coupled with the Street’s high assumptions for profitability in the short term, which may not sustain and weak business models and/or emerging risks to even hitherto strong business models in the medium term.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/macro-mania-and-modi-may-support-overvalued-indian-stock-market-kotak-equities/articleshow/107745062.cms

Reliance Industries sitting on a Rs 90-crore loss in this smallcap stock

Reliance invested Rs 413.28 crore in Ekta Kapoor-backed Balaji Telefilms in July 2017. The conglomerate purchased 25.2 million equity shares at Rs 164 each. However, since the purchase price of Rs 164, Balaji Telefilms has given RIL a negative return of 21.3% compared to its current market price of Rs 129.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/reliance-industries-sitting-on-rs-90-crore-loss-in-smallcap-stock/articleshow/107750236.cms

2-year Treasury yield ends higher for 3rd straight week on signs of possible inflation trouble

U.S. government debt sold off on Friday, pushing yields to their second-highest levels of 2024, after hotter-than-expected producer-price data created more inflation concerns.

Read more at: https://www.marketwatch.com/story/treasury-yields-nudge-higher-with-fresh-batch-of-u-s-economic-data-ahead-b2d6397b?mod=mw_rss_topstories

Why DraftKings bulls are cheering, even after a rare earnings miss

DraftKings is calling for ‘more of the same’ in 2024, and after its blowout stock performance last year, analysts seem enthusiastic.

Read more at: https://www.marketwatch.com/story/why-draftkings-bulls-are-cheering-even-after-a-rare-earnings-miss-0dbd0de3?mod=mw_rss_topstories

Dow falls Friday, with S&P 500 at risk of snapping five straight weeks of gains

U.S. stocks turned lower Friday afternoon, with the S&P 500 in danger of posting a weekly loss, as investors assessed inflation readings and company earnings.

Read more at: https://www.marketwatch.com/story/s-p-500-seen-grinding-to-new-high-with-producer-prices-sentiment-data-ahead-08c44188?mod=mw_rss_topstories