China’s Solar Executives Fear Western Trade Barriers Could Jeopardize Exports

Solar executives in China are railing the U.S. and Europe over trade protectionism, claiming that the West should instead “let the best technology win” in their respective markets. The Financial Times conducted an interview with Zhou Shijun, who leads global marketing for Arctech, who told them that the West ignoring the best technology would “come back to haunt” the renewable energy industry.  Shijun said that the introduction of trade barriers disproportionately impacted manufacturers of advanced technologies.…

Read more at: https://oilprice.com/Alternative-Energy/Solar-Energy/Chinas-Solar-Executives-Fear-Western-Trade-Barriers-Could-Jeopardize-Exports.html

A Promising Solution to Boosting Ethanol Production

Osaka Metropolitan University researchers have found that persimmon tannin, known for its antioxidant properties, improves the growth of yeast in the presence of ethanol. It’s a case of naturally derived antioxidants improving growth of yeast strain in presence of ethanol. The findings have been published in the Journal of the Science of Food and Agriculture. While ethanol in alcoholic beverages impairs drinkers’ motor functions, it is that same substance that can power motor vehicles in a cleaner, more sustainable manner.…

Read more at: https://oilprice.com/Alternative-Energy/Biofuels/A-Promising-Solution-to-Boosting-Ethanol-Production.html

U.S. Department of Energy to Release 1 Million Barrels of Gasoline from Northeast

The U.S. Department of Energy (DOE) has announced the sale of 1 million barrels (42 million gallons) of gasoline from the Northeast Gasoline Supply Reserve (NGSR) aimed at alleviating gasoline prices as Americans gear up for the summer driving season and ahead of U.S. elections this fall. “The Biden-Harris Administration is laser-focused on lowering prices at the pump for American families, especially as drivers hit the road for summer driving season,” said U.S. Secretary of Energy Jennifer M. Granholm. By releasing this reserve between Memorial…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Department-of-Energy-to-Release-1-Million-Barrels-of-Gasoline-from-Northeas.html

Explaining the Strategic Importance of an Afghan Oil Hub for Russia

Authored by Andrew Korybko via Substack, Afghanistan’s acting Industry and Trade Minister Nooruddin Azizi told Reuters earlier this month that his country agreed with Kazakhstan and Turkmenistan to build a logistics hub in its northwestern Herat province, which he said will also facilitate the export of Russian oil to South Asia via road and rail routes. The outlet noted that he’s particularly optimistic about Russia exporting this resource to Pakistan in the coming future, though they’ve yet to reach a strategic…

Read more at: https://oilprice.com/Energy/Energy-General/Explaining-the-Strategic-Importance-of-an-Afghan-Oil-Hub-for-Russia.html

Climate Activists File Involuntary Manslaughter Claim Against Big Oil

In a dramatic move sure to attract attention, environmental activists have launched an unprecedented legal action against oil giant TotalEnergies and its major shareholders, including BlackRock and Norges Bank. The case, filed in a French court, seeks to hold these entities criminally responsible for extreme weather events attributed to climate change, with charges as serious as involuntary manslaughter. Individuals affected by disasters like Greek wildfires, Storm Alex, and Cyclone Idai, supported by the environmental group Bloom, argue that the…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Climate-Activists-File-Involuntary-Manslaughter-Claim-Against-Big-Oil.html

What Could Derail The Copper Rally?

Via MetalMiner.com Overall, the Copper Monthly Metals Index (MMI) rose 17.36% from April to May. The copper price uptrend accelerated throughout April. Bullish momentum saw prices surge nearly 14% from the close of March. By April 29, prices pushed past the $10,000 per metric ton mark. They continued to move even higher by mid-May, with an additional 1.14% increase. Despite these recent surges, the copper price today still faces numerous risks. Long-Term Fundamentals Drive Copper Pricing Above $10k Per Metric Ton Unstoppable copper? If…

Read more at: https://oilprice.com/Metals/Commodities/What-Could-Derail-The-Copper-Rally.html

Net-Zero Comes With Insane $215 Trillion Price Tag

The world would need as much as $215 trillion in cumulative investments to achieve a fully decarbonized global energy system by 2050, research provider BloombergNEF (BNEF) said in a report on Tuesday. This investment would be 19% higher than an estimated $181 trillion price tag in an Economic Transition Scenario (ETS), in which the energy transition is driven by economics and where the Paris Agreement goals are missed and global warming reaches 2.6 degrees Celsius, according to BloombergNEF’s New Energy Outlook 2024.   Investment…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Net-Zero-Comes-With-Insane-215-Trillion-Price-Tag.html

Are Hybrids and EVs Incompatible?

The trade writers and auto guys have changed their tune. Before, hybrid vehicles supposedly were a technological dead end with nowhere to go. Electric vehicles (EVs) representing the future would soon put even these “gas-sippers” out of business. But now, the EV business’ expansion of market share has begun to stutter, possibly because the potential buyers worried about a lack of charging stations (a topic we covered last week). Recent figures show that hybrid and plug in hybrid vehicle sales now exceed those of EVs in the US.…

Read more at: https://oilprice.com/Energy/Energy-General/Are-Hybrids-and-EVs-Incompatible.html

TotalEnergies to Develop $6-Billion Oil Project Offshore Angola

TotalEnergies and its partners have decided to move ahead with a $6-billion deepwater oil project offshore Angola, the French supermajor said on Tuesday. TotalEnergies is the operator and holder of 40% in Block 20/11 where the deepwater Kaminho project will be developed. Its partners are Malaysia’s Petronas with a 40% stake and Angola’s oil firm Sonangol with a 20% interest. The Kaminho project to develop the Cameia and Golfinho fields, located 100 kilometers (62 miles) off the coast of Angola, will be the first large deepwater…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/TotalEnergies-to-Develop-6-Billion-Oil-Project-Offshore-Angola.html

Demand Concerns Boost Bearish Sentiment In Oil Markets

Bearish sentiment appears to have taken hold of oil markets lately, with demand concerns dragging prices lower. Oil bulls will be looking to OPEC+ to lift prices at its upcoming meeting.- European crude differentials have dipped this week after the continent’s return from maintenance has not seen a recovery in crude buying, with ample crude inventories allowing refiners to stave off purchases. – The North Sea’s Forties grade fell to a -$1 per barrel discount to Dated Brent, the physical benchmark in Europe, whilst WTI Midland dropped…

Read more at: https://oilprice.com/Energy/Energy-General/Demand-Concerns-Boost-Bearish-Sentiment-In-Oil-Markets.html

Americans Set for Near-Record Summer Road Trips as Gasoline Prices Fall

A near-record number of Americans plan road trips this summer as gasoline prices continue to drop ahead of Memorial Day weekend, the start to summer travel, the 2024 Summer Travel Survey of fuel savings platform GasBuddy showed on Tuesday. A total of 76% of Americans plan to take at least one road trip between Memorial Day and Labor Day weekends, the GasBuddy survey showed. That’s 18% higher than last year. The average American traveler has two road trips planned, with many venturing far – 49% expect to drive 5 or…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Americans-Set-for-Near-Record-Summer-Road-Trips-as-Gasoline-Prices-Fall.html

Will the Death of President Raisi Alter Iran’s Policies?

The helicopter crash that killed Iranian President Ebrahim Raisi has sent shock waves around the Islamic Republic and the region. But Raisi’s death is not expected to bring major changes to Tehran’s domestic and foreign policies, analysts say. Supreme Leader Ayatollah Ali Khamenei, who has the final say in all major state affairs, and the powerful Islamic Revolutionary Guards Corps are the key centers of power in Iran, where the president’s authority is limited. “The death of Raisi, in itself, will not cause a significant shift in Iran’s policies,”…

Read more at: https://oilprice.com/Energy/Energy-General/Will-the-Death-of-President-Raisi-Alter-Irans-Policies.html

South Africa Is Set to Run Coal Power Plants for Longer Than Planned

Eskom, the state-held utility of South Africa, plans to operate some coal-fired power plants for longer than initially envisaged to avoid making an already vulnerable grid more unreliable, the company’s CEO said on Tuesday. South Africa has been in the grips of an energy crisis with daily rolling power cuts that have been crippling the economy as Eskom continually fails to boost generation capacity to keep pace with growing demand in recent years.  South Africa, one of the world’s largest coal producers and exporters, continues…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/South-Africa-Is-Set-to-Run-Coal-Power-Plants-for-Longer-Than-Planned.html

WildFire Energy Buys Apache Assets as U.S. Shale Deals Continue

WildFire Energy I LLC will become the biggest holder of consolidated acreage in the Eagle Ford shale play in East Texas after buying net acreage and wells from Apache Corporation, amid the ongoing mergers and acquisitions (M&A) wave in the U.S. oil and gas industry. WildFire Energy announced this week that it had entered into a definitive agreement to buy around 237,000 net acres and interests in 465 wells in the East Texas Eagle Ford from Apache Corporation and subsidiaries. With the acquisition, WildFire will operate more than 2,000…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/WildFire-Energy-Buys-Apache-Assets-as-US-Shale-Deals-Continue.html

Zimbabwe Looks to Develop Lithium Refining Industry

Zimbabwe, Africa’s top lithium producer and the world’s sixth-largest lithium miner, is looking to boost its economy with higher-value lithium by refining the raw material to battery-grade lithium.    Four large-scale producers of lithium concentrate have already submitted plans to refine the raw material locally, instead of shipping it to China, whose lithium companies dominate the lithium extraction industry in Zimbabwe, according to a senior government official in the African country. “They are coming forward with…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Zimbabwe-Looks-to-Develop-Lithium-Refining-Industry.html

S&P 500, Nasdaq rise on Tuesday to close at fresh records: Live updates

The major averages inched higher Tuesday ahead of Nvidia’s earnings report Wednesday afternoon.

Read more at: https://www.cnbc.com/2024/05/20/stock-market-today-live-updates.html

Nvidia is talk of the town at AI events leading into this week’s earnings

As tech companies revealed their latest plans for artificial intelligence in the past week, Nvidia’s name has been everywhere.

Read more at: https://www.cnbc.com/2024/05/21/nvidia-is-talk-of-town-at-ai-events-before-fiscal-q1-2025-earnings.html

Here’s where rents are rising — and where they’re falling

Of the nation’s 20 largest cities, Seattle saw the highest year-over-year increase in single-family rents, followed by New York and Boston.

Read more at: https://www.cnbc.com/2024/05/21/where-rents-are-rising.html

Biden to release 1 million barrels of gasoline to reduce prices at the pump ahead of July 4

The Biden administration will release 1 million barrels of gasoline from reserves held in the Northeast to reduce prices ahead of the July 4 holiday.

Read more at: https://www.cnbc.com/2024/05/21/biden-to-release-1-million-barrels-of-gasoline-to-reduce-prices-at-the-pump-ahead-of-july-4.html

First Solar earnings could surge 370% by 2027 as Big Tech hunts for renewables to power AI, UBS says

UBS said First Solar is “an overlooked, direct beneficiary of increasing AI-driven electricity demand.”

Read more at: https://www.cnbc.com/2024/05/21/fslr-earnings-could-surge-as-big-tech-hunts-for-renewables-to-power-ai-ubs-says-.html

Pixar is laying off 14% of its workforce as Disney scales back content

About 14% of the workforce at Disney’s Pixar Animation Studios, or around 175 employees, are being laid off.

Read more at: https://www.cnbc.com/2024/05/21/disneys-pixar-layoffs.html

Trump VP prospect Doug Burgum and GOP megadonor Harold Hamm are allies in business and politics

Donald Trump’s potential choice to be his running mate is closely tied to the oil and gas business.

Read more at: https://www.cnbc.com/2024/05/21/trump-vp-doug-burgum-oil.html

Uniswap fights back against SEC as the ethereum crackdown continues

Uniswap fights back against SEC Wells notice.

Read more at: https://www.cnbc.com/2024/05/21/uniswap-fights-back-against-sec-as-the-ethereum-crackdown-continues.html

Uniswap urges SEC to drop potential enforcement action in new filing: 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, Mary-Catherine Lader, Uniswap Labs’ COO, discusses the filing urging the SEC to drop potential legal action against the firm. CNBC Crypto World also speaks with PitchBook’s Robert Le about the research firm’s latest crypto report.

Read more at: https://www.cnbc.com/video/2024/05/21/uniswap-urges-sec-drop-potential-enforcement-action-new-filing-cnbc-crypto-world.html

Fed Governor Waller wants ‘several months’ of good inflation data before lowering rates

Fed Governor Christopher Waller said Tuesday that he does not think further interest rate increases will be necessary.

Read more at: https://www.cnbc.com/2024/05/21/fed-governor-waller-wants-several-months-of-good-inflation-data-before-lowering-rates.html

Inside the NYC kitchen fueling Shake Shack’s $4 billion burger empire

Every new menu item is developed in the basement of the chain’s West Village restaurant.

Read more at: https://www.cnbc.com/2024/05/21/inside-the-nyc-kitchen-fueling-shake-shacks-4-billion-burger-empire.html

Bill Gates names his top book recommendations of the summer—and the one that’s a ‘must-read’

Bill Gates’ summer book recommendations for 2024 range from a Vietnam War novel to a non-fiction book about better listening — and one TV show, “Slow Horses.”

Read more at: https://www.cnbc.com/2024/05/21/bill-gates-2024-summer-book-recommendations-one-is-a-must-read.html

Hedge funds are getting selective with megacap tech, falling out of love with Tesla and Apple

Hedge funds dialed back their exposure to Tesla, Alphabet and Apple last quarter, while Microsoft remained the most popular stock.

Read more at: https://www.cnbc.com/2024/05/21/hedge-funds-get-selective-with-big-tech-fall-out-of-love-with-tesla-apple.html

EPA’s Clean Power Plan Rule Prioritizes Net-Zero Over Grid Reliability

Authored by Gabriella Hoffman & Christian Palich via RealClearEnergy,

Coal and natural gas plants provide 60% of the U.S.’ affordable, reliable, and baseload power. In a time of increased electricity demand, America needs to double down on harnessing these sources—not abandon them.

The Environmental Protection Agency (EPA)’s recently finalized Clean Power Plan 2.0 (CPP) rule, however, takes the country in the wrong direction. Under this regulation, one that is arguably

Read more at: https://www.zerohedge.com/energy/epas-clean-power-plan-rule-prioritizes-net-zero-over-grid-reliability

Biden Drains Entire Northeast Gasoline Reserve In Bid To Lower Gas Prices As He Trails Trump By Double Digits

Back in March, when reading the mammoth, 1050-page bill that was meant to avert government shutdown, but was yet another pork filled free-for-all bonanza authorizing $1.7 trillion in in discretionary spending, we stumbled upon something that was truly shocking: after Biden singlehandedly drained half of the US strategic petroleum reserve to avoid obliteration for Democrats in the 2022 midterm elections, Congress has snuck in a provision that would sell off and shutter the Northeast Gasoline Supply Reserve, a move that while perhaps keeps gas prices lower for a day or two, would also leave the entire continental northeast defenseless to any true environmental catastrophe or shock. We were so dismayed by the inclusion of this particular text, we wondered if it hadn’t been put there solely for the benefit of America’s enemies…

The entire US 1 million barrel Northeast Gasoline Supply Reserve will be required to be sold and closed in fiscal 2024, according to bill text of government funding legislation unveiled Sunday

Did China write this bill? https://t.co/d8qLXZ5Gi6 pic.twitter.com/8B2flG0CZw

— zerohedge (@zerohedge) March 3, 2024

Read more at: https://www.zerohedge.com/energy/biden-drains-entire-northeast-gasoline-reserve-bid-lower-gas-prices-he-trails-trump-double

One Dead After Boeing 777 Hit By ‘Severe Turbulence’ On London-Singapore Flight

Update (1219ET):

Here’s a passenger recount of what happened to the Singapore Airlines Boeing 777-300ER during the mid-air incident:

“Suddenly the aircraft starts tilting up and there was shaking so I started bracing for what was happening, and very suddenly there was a very dramatic drop so everyone seated and not wearing a seatbelt was launched immediately into the ceiling.

“Some people hit their heads on the baggage cabins overhead and dented it; they hit the places where lights and masks are and broke straight through it,” Dzafran Azmir, a 28-year-old student on the flight, told ABC News.

Here’s footage from inside the cabin following the abrupt 6,000-foot drop:

Severe turbulence on #SingaporeAirlines flight from London to Singapore results in 1 death and several injured passengers.

This is a reminder – always have your seat belts fastened when inflight. #SQ321 #Singapore pic.twitter.com/sLPKIi9aCV

— vk Gupta (@vk26011950) May 21, 2024

Read more at: https://www.zerohedge.com/markets/one-dead-after-boeing-777-hit-severe-turbulence-london-singapore-flight

California Governor Escalates War On Gasoline Impacting Neighboring States

Authored by Mike Shedlock via MishTalk.com,

Prepare to pay another $1 per gallon in California with higher prices in Nevada and Arizona too.

The War on Gasoline a Gift to Trump

The Wall Street Journal says Gavin Newsom’s War on Gasoline Is a Gift to Donald Trump.

California’s prices are the highest in the country—$5.21 a gallon on average vs. $3.59 nationwide—owing to hefty taxes and burdensome regulations, such as its cap-and-trade program and low-carbon fuel standard. Here’s the rub: California refineries supply nearly 90% of Nevada’s gasoline and half of Arizona’s.

Mr. Newsom is escalating his war on the industry. The California Energy Commission is pla …

Read more at: https://www.zerohedge.com/energy/california-governor-escalates-war-gasoline-impacting-neighboring-states

Water firms ask for bill rises of between 24% and 91%

Southern Water wants to increase its bills by £436 a year, but is not expected to get approval.

Read more at: https://www.bbc.com/news/articles/ce55vp78n40o

Online car retailer Cazoo enters administration

As Cazoo enters administration, we look at the rise and fall of the online used car retailer.

Read more at: https://www.bbc.com/news/articles/cjq55333xg9o

Rates should be cut to 3.5% by end of 2025, IMF says

The international body upgrades its UK growth forecast and says rates could fall to 4.5% by the end of 2024.

Read more at: https://www.bbc.com/news/articles/cldd6x6gglxo

HUL, Asian Paints see biggest drop in promoter holdings in Q4. Here are other top names

Promoters decreasing their shareholding is sometimes considered negative for the stock as it shows that the promoters don’t believe in the company’s future.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/hul-asian-paints-see-biggest-drop-in-promoter-holdings-in-q4-here-are-other-top-names/slideshow/110303218.cms

These 5 Tata group companies see highest PAT growth in Q4. Do you own any?

ETMarkets.com analysed stocks that have done the best in terms of profit growth on a year-on-year (YoY) basis.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/these-5-tata-group-companies-see-highest-pat-growth-in-q4-do-you-own-any/slideshow/110309757.cms

Ircon, Deepak Fertilisers among top 10 smallcap stocks bought by mutual funds in April

Every month mutual funds buy and sell securities to offer good returns to investors.

Read more at: https://economictimes.indiatimes.com/mf/analysis/ircon-deepak-fertilisers-among-top-10-smallcap-stocks-bought-by-mutual-funds-in-april/slideshow/110306559.cms

Why Faraday Future joined the meme-stock rally — and then some

One of the most unusual events in last week’s meme-stock rally was the phenomenal surge in shares of electric-vehicle startup Faraday Future Intelligent Electric Inc., which went stratospheric on zero news.

Read more at: https://www.marketwatch.com/story/why-faraday-future-joined-the-meme-stock-rally-and-then-some-5a21f1cd?mod=mw_rss_topstories

Comcast says its new ‘StreamSaver’ bundle will save customers close to $100 a year — here’s how

The new bundle offering Apple TV+, Netflix and Peacock costs $15 a month and is only available to Comcast subscribers.

Read more at: https://www.marketwatch.com/story/comcast-says-its-new-streamsaver-bundle-will-save-customers-close-to-100-a-year-heres-how-7f65f6f5?mod=mw_rss_topstories

Bond king Jeffrey Gundlach still sees a U.S. recession coming. Here’s when.

Jeffrey Gundlach, chief executive of investment-management company DoubleLine Capital, is continuing to hold on to a view that he’s had since at least late last year — that the world’s largest economy will likely experience a recession.

Read more at: https://www.marketwatch.com/story/bond-king-jeffrey-gundlach-still-sees-a-u-s-recession-coming-heres-when-c45d45fe?mod=mw_rss_topstories