15Dec2021 Market Close: Is This The Start Of A Santa Claus Rally?

The UK Is Slashing EV Grants Once Again

For the second time this year, the UK is slashing the grants available to buyers of electric vehicles (EVs) as it looks to curb spending and targets less expensive models. Soaring demand for EVs leads to refocusing of grants on the most affordable zero-emission cars, making best use of taxpayer money, the UK government said on Wednesday, announcing the changes to its EV incentive policies, the second major change in less than one year. The grant for EVs is now slashed by 40 percent and limited to buyers of electric cars priced below

Read more at: https://oilprice.com/Latest-Energy-News/World-News/The-UK-Is-Slashing-EV-Grants-Once-Again.html

What Is Energy Equity And Why Is It So Important?

Energy equity sounds like a cross between a financial engineering concept and a new social entitlement program like Medicare. But to us, it is a concept that we expect the energy industry to hear more of, insofar as it involves genuine economic and social concerns. Basically, this term energy equity, and the advocates who employ it, are saying that all members of society should be able to afford and have access to a necessary or basic amount of energy for ordinary living. That does not mean generous subsidized energy

Read more at: https://oilprice.com/Energy/Energy-General/What-Is-Energy-Equity-And-Why-Is-It-So-Important.html

Chinas Oil Imports Are Set To Slow In Q1

A combination of Chinas policies to curb pollution in time for the Winter Olympics, its crackdown on illegal practices at independent refiners, and its zero-COVID policy with intermittent lockdowns are set to slow crude oil imports at the worlds top oil-importing nation early next year, industry consultants tell Bloomberg. Chinese imports in March 2022 are set to be around 10.7 million barrels per day (bpd). This would be about 1 million bpd lower than the crude oil imports in March this year, according to estimates from consultants

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Chinas-Oil-Imports-Are-Set-To-Slow-In-Q1.html

Almost All Of Russias Oil Could Become Hard-To-Recover In The Coming Years

Russia does not appear to be backing down from its oil and gas commitments, with speculation over new partnerships with India, as well as plans to up its crude output from January, its fossil fuel industry is going from strength to strength. Russia and India signed several energy cooperation agreements last week, as Russia plans to send just under 15 million barrels of oil from Russian producer Rosneft to India throughout 2022. India, the worlds third-largest crude consumer, currently imports around 85 percent of its oil needs, mainly

Read more at: https://oilprice.com/Energy/Energy-General/Almost-All-Of-Russias-Oil-Could-Become-Hard-To-Recover-In-The-Coming-Years.html

Alberta’s Non-Mining Oil Production Soars To Record High

Oil production from non-mining processes in the Canadian province of Alberta hit an all-time high in October 2021, averaging 2.27 million barrels per day (bpd), marginally topping the previous record of 2.25 million bpd set in December 2019, a Rystad Energy report shows. Contrary to the structural shift towards lighter barrels in the US Gulf Coast market, the composition of upstream supply in Alberta is the heaviest in modern history. Output in October 2021 jumped a staggering 103,000 bpd month-on-month, driven primarily by increases in steam-assisted

Read more at: https://oilprice.com/Energy/Energy-General/Albertas-Non-Mining-Oil-Production-Soars-To-Record-High.html

Gazproms Export Growth Slows As Europes Energy Crisis Worsens

The pace of Gazproms natural gas exports growth to Europe has slowed in recent months to just under five percent, according to data published by the Kremlin-backed gas giant yesterday. Gazprom revealed its natural gas exports outside the former Soviet Union bloc between January and December had increased 4.8 percent year-on-year to 178.1 billion cubic meters. The figures are a stark contrast from double-digit increases seen earlier this year. The company previously reported 26 percent for the first half of the year and 19.4 percent

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Gazproms-Export-Growth-Slows-As-Europes-Energy-Crisis-Worsens.html

‘We’re heartbroken. We’re overwhelmed’ — U.S. hospitals grapple with delta outbreak as omicron takes root

Public health officials have warned for weeks that the U.S. would face another Covid wave due to the delta variant this winter.

Read more at: https://www.cnbc.com/2021/12/15/covid-delta-drives-surge-of-us-infections-hospitalizations-amid-omicron-fears.html

Here’s what changed in the new Fed statement

This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting on Nov. 3.

Read more at: https://www.cnbc.com/2021/12/15/federal-reserve-statement-december-2021-heres-what-changed.html

Omicron ‘probably the most significant threat’ since start of the pandemic, British health chief says

The U.K. reported a record number of new daily Covid cases on Wednesday, with 78,610 in the last 24 hours.

Read more at: https://www.cnbc.com/2021/12/15/omicron-probably-the-most-significant-threat-since-start-of-the-pandemic-british-health-chief-says.html

The NFL and NBA lead new Covid outbreaks in sports, spurring fines, restrictions, and delays

More than 100 individuals throughout the NFL, NBA, and NHL entered Covid health and safety protocols this week.

Read more at: https://www.cnbc.com/2021/12/15/nfl-and-nba-lead-new-covid-outbreaks-in-sports.html

Fauci says Covid boosters work against omicron, no need for variant-specific third shot

A booster dose increases protection against symptomatic disease to 75%, Fauci.

Read more at: https://www.cnbc.com/2021/12/15/fauci-says-covid-boosters-work-against-omicron-no-need-for-variant-specific-third-shot-.html

Doctor and ex-NBA executive says increase in sports Covid cases ‘really bad sign’ for holidays

Dr. Robby Sikka, former vice president for the Minnesota Timberwolves, encouraged “layers of protection” in the coming weeks.

Read more at: https://www.cnbc.com/2021/12/15/dr-robby-sikka-says-increase-in-sports-covid-cases-bad-sign-for-holidays.html

WHO expects severe omicron cases, warns against treating variant as mild disease

We have to be really careful that there isn’t a narrative out there that it’s just a mild disease,” said Maria Van Kerkhove, the WHO’s Covid-19 technical lead.

Read more at: https://www.cnbc.com/2021/12/15/who-expects-severe-omicron-cases-warns-against-treating-variant-as-mild-disease.html

UK reports highest number of daily Covid cases since the pandemic began

The U.K. reported a record number of new daily Covid cases on Wednesday, with 78,610 in the last 24 hours.

Read more at: https://www.cnbc.com/2021/12/15/uk-reports-highest-number-of-daily-covid-cases-since-pandemic-began.html

Airline CEOs face Senate panel over flight cancellations after taking $54 billion in taxpayer aid

Airlines are now scrambling to hire workers after pushing tens of thousands of employees to take leaves of absence or buyouts during the Covid pandemic.

Read more at: https://www.cnbc.com/2021/12/15/airline-ceos-face-senate-panel-over-flight-cancellations-after-taking-54-billion-in-taxpayer-aid.html

Lowe’s says pandemic-fueled home improvement demand could cool in year ahead

During an analyst meeting, Lowe’s Chief Financial Officer Dave Denton said the retailer is preparing for a “modest sector pullback in 2022.”

Read more at: https://www.cnbc.com/2021/12/15/lowes-shares-fall-on-concerns-of-slowing-home-improvement-appetite.html

Toxic mold forced a Texas family to flee their home. What you need to know about mold’s dangers

Across the United States, thousands of people struggle with mold growth in their homes. It can cause numerous health issues and help can be hard to find.

Read more at: https://www.cnbc.com/2021/12/15/what-homeowners-need-to-know-about-toxic-mold-exposure.html

Watch: Biden Asks “What’s The Big Deal?” About Vaccine Mandates; Says It’s “Patriotic” To Take COVID Jabs

Watch: Biden Asks “What’s The Big Deal?” About Vaccine Mandates; Says It’s “Patriotic” To Take COVID JabsAuthored by Steve Watson via Summit News,

When asked about three U.S. courts blocking federal vaccine mandates recently, Joe Biden declared that the country is experiencing “a pandemic of the unvaccinated,” adding that it is “patriotic” to take COVID shots, and stating that he doesn’t understand what the “big deal” is with people not wanting their freedoms imposed upon.

WHIOTV 7 reporter John Bedell told Biden “Your vaccine mandates have suffered some setbacks in court recently,” adding “Federal judges have halted three of those COVID vaccine mandates.”

“Are you going to back down or are you going to continue to fight those in court?” Bedell further asked.

“This is a pandemic of the unvaccinated. No …

Read more at: https://www.zerohedge.com/political/watch-biden-asks-whats-big-deal-about-vaccine-mandates-says-its-patriotic-take-covid-jabs

Derek Chauvin Pleads Guilty In Federal Civil Rights Case To Avoid Life In Prison

Derek Chauvin Pleads Guilty In Federal Civil Rights Case To Avoid Life In PrisonDerek Chauvin has pled guilty in the federal civil rights case against him in a Wednesday morning hearing in the US District Court in St. Paul, Minnesota. Though he previously pled not guilty to the charges, he submitted a written change of plea on Monday.

Sentencing will come at an unknown later date, and he’s facing 25 years – according to prior statements by prosecutors – importantly, to be served concurrently with the April state sentence. He was previously handed 22 and-a-half years in prison for being found guilty of second-degree murder, third-degree murder and second-degree manslaughter in the death of George Floyd, which sparked months of often violent protests across multiple major cities.

Via CNNAccording to The Wall Street Journal, prosecutors agreed to seek a 300-month maximum sentence (25 years) instead of life imprisonment. This means Chauvin could be a fre …

Read more at: https://www.zerohedge.com/political/derek-chauvin-pleads-guilty-federal-civil-rights-case-avoid-life-prison

Smart Enough To Get Rich, Not Smart Enough To Keep It

Smart Enough To Get Rich, Not Smart Enough To Keep ItAuthored by Charles Hugh Smith via OfTwoMinds blog,

Are we smart enough to keep our oh-so-easily conjured riches? If we continue to believe that doing more of what’s failed spectacularly will deliver permanently expanding riches, then the answer is no.

Near the end of his monumental 400+-page analysis of the notion that alternative energy sources can replace hydrocarbon fuels, (Energy and Human Ambitions on a Finite Planet), Thomas Murphy discusses the really big picture: mass extinction events and species’ role in mass extinctions.

So here’s the thing. The first species smart enough to exploit fossil fuels will do so with reckless abandon. Evolution did not skip steps and create a wise being — despite the fact that the sapiens in our species means wise. (Self-assigned flattery) A …

Read more at: https://www.zerohedge.com/markets/smart-enough-get-rich-not-smart-enough-keep-it

Watch Live: Fed Chair Powell Explains How ‘Turbo-Tapering Is Not Tightening’

Watch Live: Fed Chair Powell Explains How ‘Turbo-Tapering Is Not Tightening’The Dots have been moved and the turbo-taper is in play… so there’s only one thing left for Fed Chair Jay Powell to do as America heads towards a big pre-Xmas spending week – remind the world (in as dovish manner he can muster) that “tapering (even turbocharged) isn’t tightening.”

The only problem, of course, is that tapering implies tightening to come and the market is pricing that in rapidly.

What is consensus expecting from Powell at the presser? (via Janney)

Powell to re-emphasize need for “policy flexibility” as the reason before accelerating the taper.

Powell to push back on need for immediate rate hikes, *emphasizing that the test for hiking is much stricter than the test for tapering.

Powell to emphasize that while inflation risks have risen, Fed is still waiting to look through economic bottlenecks before making a decision.

The market has fully priced-in the rate-hike expectations…
Read more at: https://www.zerohedge.com/economics/watch-live-fed-chair-powell-explains-how-turbo-tapering-not-tightening

Hotel quarantine guests can leave and will be refunded

Guests told they can leave from 4pm on Wednesday and will be refunded for the days they have not used.

Read more at: https://www.bbc.co.uk/news/business-59670486?at_medium=RSS&at_campaign=KARANGA

Motoring groups criticise cut in electric car subsidies

The government has further reduced the amount of subsidy for buying electric cars, this time from £2,500 to £1,500.

Read more at: https://www.bbc.co.uk/news/business-59669915?at_medium=RSS&at_campaign=KARANGA

Inflation hits 10-year high as energy, fuel and clothing costs jump

Rising transport and energy costs push inflation to 5.1% in the 12 months to November

Read more at: https://www.bbc.co.uk/news/business-59663947?at_medium=RSS&at_campaign=KARANGA

Decoding Sebi’s move to ring-fence retail traders from dangers of algo trading

The SEBI says it has drawn the regulatory framework to make algo trading safe, protect retail investors’ interest and prevent any possible manipulations in the market. Currently, exchanges provide approval for algo trading, which are designed and coded by the brokers.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/decoding-sebis-move-to-ring-fence-retail-traders-from-dangers-of-algo-trading/articleshow/88303482.cms

Does a cold winter await the Indian rupee?

Historically, the rupee has either drifted down every year against the dollar (USD) or when it remains range-bound for a few years, the move can be very quick and precipitous.

Read more at: https://economictimes.indiatimes.com/markets/forex/does-a-cold-winter-await-the-indian-rupee/articleshow/88297632.cms

Ready for the digital era? 3 digital cos enjoy Rs 1L cr m-cap against just two 100-year old cos

Motilal Oswal Securities called predominantly digital businesses — such as ones dealing in email, web search, social networks and e-commerce — as “Bits” and the ones dealing in physical products such as autos, cement, steel and pharma as “Atoms”.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/ready-for-the-digital-era-3-digital-cos-enjoy-rs-1l-cr-m-cap-against-just-two-100-year-old-cos/articleshow/88297307.cms

The Fed: Fed finally steps up to fight high inflation after downplaying rising prices for months

The Federal Reserve has never forecast U.S. inflation to rise by more than 2.2% in the following year since the 2007-2009 Great Recession. Until now.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-77ED-4E8DF65E222B%7D&siteid=rss&rss=1

Futures Movers: Oil futures shake off early losses on omicron worries, end higher after Fed policy update

Oil futures settle higher on Wednesday, finding support as U.S. benchmark stock indexes climbed in the wake of the Federal Reserve’s move to speed up tapering of asset purchases and boost the number of interest-rate hikes planned for next year. Prices shake off early losses brought on by worries over the omicron variant of the coronavirus.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-77EF-6F82B0E01375%7D&siteid=rss&rss=1

The Fed: Fed accelerates taper of bond purchases, eyes three interest rate hikes in 2022

The Federal Reserve said it will phase out its bond-buying stimulus program by March and signaled it would raise interest rates more aggressively to combat high U.S. inflation.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-77F1-AB26E33CB80F%7D&siteid=rss&rss=1