Scientists Find New Way To Turn Plant Waste Into Biofuels

The University of California – Santa Barbara researchers have proven that tough, woody lignin can be broken down in an anaerobic environment. It’s a tough material, lignin is the structural biopolymer that gives stems, bark and branches their signature woodiness. Its one of the most abundant terrestrial polymers on Earth, lignin surrounds valuable plant fibers and other molecules that could be converted into biofuels and other commodity chemicals – if we could only get past that rigid lignin plant cell wall. In a paper published…

Read more at: https://oilprice.com/Energy/Energy-General/Scientists-Find-New-Way-To-Turn-Plant-Waste-Into-Biofuels.html

5 Trends Driving The Oil And Gas Industry In 2023

The end of a year and the start of a new one is usually a time fraught with forecasts about the trends that will shape the year for a particular industry. Oil and natural gas is no exception: December and January abound in forecasts, predictions, and outlooks for the new year. By April, it has usually become clear which forecasts were on the money and which were either premature, lay, or plain wrong. Here are five trends that are clearly evident and likely to dominate the industry until at least the end of the year. Tight supply There is a reason…

Read more at: https://oilprice.com/Energy/Energy-General/5-Trends-Driving-The-Oil-And-Gas-Industry-In-2023.html

How Clean Are Tesla’s Cars Really?

Electric vehicle skeptics sometimes argue that the manufacturing and disposal of battery-electric vehicles like Teslas as well as reliance on coal to generate the electricity that powers them leaves EVs with a larger carbon footprint than non-electric vehicles.  While that claim on the surface might sound absurd, it has a solid basis nonetheless because it has been proven that manufacturing and disposal of EVs results in significantly more greenhouse gasses than non-electric models. However, that’s only part of the picture because…

Read more at: https://oilprice.com/Energy/Energy-General/How-Clean-Are-Teslas-Cars-Really.html

Oil Prices Return To Recent Highs

The price of crude oil returned on Tuesday to the recent highs seen after OPEC+ announced it would cut production by another 1.6 million barrels per day. On April 2, OPEC+ announced that it would cut its crude oil production by another 1.66 million barrels per day (including the 500,000 bpd Russian production cut) on top of its 2 million bpd cut. Naturally, oil prices spiked following the news, reaching gains of 8% at the Monday open. Brent was trading at more than $86 per barrel, with WTI trading at nearly $81. Further gains were made after opening,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Return-To-Recent-Highs.html

Exxon: Decarbonization Business Is Set For Huge Growth

Last month, Exxon Mobil (NYSE:XOM) pulled the plug on its 14-year-long algae biofuels project, becoming the last oil company to abandon what was once considered the fuel of the future. The whole idea was not without merit, though. Algae do have some clear advantages over other biofuel candidates, mainly because these photosynthetic microorganisms are super-efficient at converting sunlight into biomass, have high lipid content of up to 80% for some varieties and are more versatile than, say, corn, a common biofuel…

Read more at: https://oilprice.com/Energy/Energy-General/Exxon-Decarbonization-Business-Is-Set-For-Huge-Growth.html

Russia’s Current Account Surplus Dwindles As Sanctions Hit

Russia’s current-account surplus dwindled over the first quarter of this year by $51 billion compared to this quarter last year, Russia’s central bank data shows, as the country struggles to maintain oil revenues in the face of sanctions. The surplus shrank 73 percent to $18.6 billion in the first quarter—the smallest quarterly surplus in seven years. The central bank said on Tuesday that it is now forecasting the full-year surplus to dip to $66 billion from more than $227 last year. The reason behind the drop in its current-account…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Current-Account-Surplus-Dwindles-As-Sanctions-Hit.html

Inflation Reduction Act Leads To Record Spending On New U.S. Factories

The Inflation Reduction Act and the pandemic and geopolitical impacts on major supply chains are driving increased spending on manufacturing-related construction spending in the United States.   Spending on factory building is at a record high, thanks to the incentives for clean energy in the IRA and efforts to reshore supply chains to the U.S., especially in semiconductors and critical materials supply for electric vehicles and renewable energy, analysts and industry officials say.    Manufacturing-related construction…

Read more at: https://oilprice.com/Energy/Energy-General/Inflation-Reduction-Act-Leads-To-Record-Spending-On-New-US-Factories.html

Russia Delivers 30,000 Tons Of Fuel To Iran Via Rail

Russia launched for the first time this year fuel-by-rail exports to Iran after the West banned seaborne imports of fuels from Russia over Putin’s invasion of Ukraine, industry sources have told Reuters.   Russian firms are looking to place their diesel and gasoline exports in countries outside the EU, the former top buyer of Russian fuels, after the bloc and its Western allies placed an embargo on fuel imports from Russia and set price caps for Russia’s diesel and other fuel exports to third countries if the fuels are…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Delivers-30000-Tons-Of-Fuel-To-Iran-Via-Rail.html

Copper Prices Stuck In Limbo

Via AG Metal Miner Overall, the Copper Monthly Metals Index (MMI) rose 2.18% from March to April. However, what is the price of copper currently? Copper prices continued to trade sideways this past month, creating both uncertainty and risk. Meanwhile, traders and investors continue to closely monitor the market for any signs of a breakout in either direction. Prices would need to show clear strength in any direction to create a new trend. Economic Outlook Weighs on Prices As prices trade sideways, the copper market remains caught between worsening…

Read more at: https://oilprice.com/Metals/Commodities/Copper-Prices-Stuck-In-Limbo.html

OPEC+ Oil Production Sees Biggest Drop In 10 Months

In March, OPEC+ producers saw the biggest decline in their collective production in 10 months, as output fell by 680,000 barrels per day (bpd) to 37.64 million bpd, an assessment by Energy Intelligence showed this week. Russia, which said it was cutting oil production in March, as well as Nigeria accounted for most of the OPEC+ oil production drop. Declines in Russian and Nigerian oil production accounted for 440,000 bpd, or two-thirds, of the March drop in OPEC+ output, according to Energy Intelligence.  In March, oil production from the…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/OPEC-Oil-Production-Plunges-In-March.html

Oil Prices Rangebound As Bulls And Bears Battle For Dominance

Oil prices have been largely rangebound since the OPEC+ announcement that it would cut production sent prices soaring at the start of last week. While strong U.S. job growth and the resultant strengthening of the dollar took some steam out of the rally, demand optimism and Russia’s production cut helped to keep prices from falling.Investor Alert: Whether you are new to the oil and gas industry or an energy market veteran, you will regret not signing up for Global Energy Alert. Oilprice.com’s premium newsletter provides everything from geopolitical…

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Prices-Rangebound-As-Bulls-And-Bears-Battle-For-Dominance.html

The U.S. Looks To Lower EV Mileage Ratings

The U.S. administration is considering slashing the mileage ratings for electric vehicles (EVs) to meet fuel economy regulations for automakers, in a major overhaul of the Corporate Average Fuel Economy (CAFE) program.   The U.S. Department of Energy is looking to reduce significantly the way petroleum-equivalent fuel economy for EVs is being calculated, which could mean that automakers need to sell more low-emission cars.   If carmakers cannot meet CAFE rules, they either buy credits or pay fines. Vehicles are ranked by their EPA combined…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/The-US-Looks-To-Lower-EV-Mileage-Ratings.html

European Natural Gas Futures Signal Concern About Next Winter

Despite short-term bearish factors and relatively low natural gas prices for the nearest months, the longer-dated futures of Europe’s benchmark prices have rallied in recent weeks, suggesting that the market is jittery about European gas supply for next winter. The front-month futures at the TTF hub, the benchmark for Europe’s gas trading, were at $47.64 (43.65 euros) per megawatt-hour (MWh) as of 11 a.m. GMT on Tuesday. The nearest futures prices have been lingering around that range for weeks, as the winter ended, the weather turned…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/European-Natural-Gas-Futures-Signal-Concern-About-Next-Winter.html

Russia’s Weekly Crude Oil Exports Plunge

Russia’s crude oil exports by sea plunged last week, the most since December 2022, to below 3 million barrels per day (bpd), the lowest level in eight weeks, tanker-tracking data compiled by Bloomberg showed on Tuesday. In the week to April 7, crude oil shipments from Russia’s export terminals plummeted by 1.24 million bpd, to an eight-week low of 2.89 million bpd, according to the data cited by Bloomberg’s Julian Lee.  The drop in crude oil exports, the steepest decline since storms affected loadings at ports in December, suggests that Russia’s…

Read more at: https://oilprice.com/Energy/Energy-General/Russias-Weekly-Crude-Oil-Exports-Plunge.html

G7 Nations Diverge On Plan To Phase Out Coal Power By 2030

The G7 group of the world’s most industrialized nations is struggling to find common ground on committing to phasing out coal power generation by 2030 ahead of a summit in Japan later this week, according to a draft communique for the meeting seen by Bloomberg News. In those draft documents, the United States, Japan, and the European Union have said they have reservations about a proposal by the UK to set a firm 2030 deadline to end unabated coal-fired power generation when the G7 energy and climate change ministers meet at a summit on April…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/G7-Nations-Diverge-On-Plan-To-Phase-Out-Coal-Power-By-2030.html

S&P 500 closes little changed Tuesday as traders await March inflation report: Live updates

Two key economic data points weigh on the minds of investors this week: the latest consumer price index and the producer price index readings.

Read more at: https://www.cnbc.com/2023/04/10/stock-market-today-live-updates.html

Banks in ‘more precarious situation’ creating risks for global growth, IMF chief economist warns

Banks may pull back on lending, clouding the growth outlook — but central banks should stay focused on inflation, Pierre-Olivier Gourinchas told CNBC.

Read more at: https://www.cnbc.com/2023/04/11/banks-creating-downside-risks-for-global-growth-imf-chief-economist-.html

Google drops global vaccine requirement to enter buildings, says ‘world is in a very different place’

“The world is in a very different place,” a Google global security vice president said in a companywide memo.

Read more at: https://www.cnbc.com/2023/04/11/google-drops-global-vaccine-requirement-to-enter-buildings.html

Here’s what NFL ‘Sunday Ticket’ will cost through YouTube TV

YouTube TV became the owner of “Sunday Ticket” in December, paying roughly $2 billion for the rights, and taking over DirecTV’s longtime contract.

Read more at: https://www.cnbc.com/2023/04/11/youtube-tv-nfl-sunday-ticket-subscription-pricing.html

Google TV gets 800 free channels

Google on Tuesday introduced a live TV experience called Google TV that combines more than 800 free channels into one user interface.

Read more at: https://www.cnbc.com/2023/04/11/google-tv-gets-800-free-channels.html

History shows now is a great time to buy this Dow member, Bernstein says

The firm estimates that this stock could rally almost 20%.

Read more at: https://www.cnbc.com/2023/04/11/history-shows-now-is-a-great-time-to-buy-this-dow-member-bernstein-says.html

Abortion pill alternative: The drug that could be used if Texas ban on mifepristone upheld

A Texas judge’s ruling could ban the abortion pill mifepristone, but misoprostol will remain available as an off-label treatment for ending a pregnancy.

Read more at: https://www.cnbc.com/2023/04/11/alternative-abortion-pill-could-be-used-if-the-mifepristone-ban-is-upheld.html

Manhattan DA Alvin Bragg sues Rep. Jim Jordan over House probe of Trump investigation

Manhattan D.A. Alvin Bragg is prosecuting Donald Trump in connection with a hush money payment Trump’s lawyer Michael Cohen paid porn star Stormy Daniels.

Read more at: https://www.cnbc.com/2023/04/11/manhattan-da-bragg-sues-rep-jordan-over-house-probe-of-trump-investigation.html

Walmart to close four underperforming Chicago stores

Walmart locations in the Kenwood, Lakeview, Little Village, and Chatham neighborhoods of Chicago will close April 16.

Read more at: https://www.cnbc.com/2023/04/11/walmart-to-close-four-underperforming-chicago-stores.html

Russia-Ukraine war live: UN says more than 8,400 killed in Ukraine since war’s start; more revelations emerge from leaked Pentagon documents

The intelligence leaks have brought forth new controversial information about adversaries and allies alike.

Read more at: https://www.cnbc.com/2023/04/11/russia-ukraine-live-updates.html

Lamborghini CEO says orders for hybrid Revuelto show ‘incredible’ demand from wealthy car-buyers

The high-performance automaker has already sold out Revuelto orders for the first two years of production, CEO Stephan Winkelmann told CNBC.

Read more at: https://www.cnbc.com/2023/04/11/lamborghini-ceo-revuelto-orders.html

Nearly half of Americans say it’s unlikely they’ll buy an electric vehicle as their next car: Poll

Nearly 80% of the public cite the lack of charging infrastructure as a primary reason for not purchasing an electric vehicle.

Read more at: https://www.cnbc.com/2023/04/11/nearly-half-of-americans-say-its-unlikely-theyll-buy-an-ev-next-poll.html

Bitcoin tops $30,000 for the first time since June, and SEC ups crypto unit hiring: 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, Joshua Frank of The Tie discusses crypto markets and what the Shanghai upgrade will mean for ether prices.

Read more at: https://www.cnbc.com/video/2023/04/11/bitcoin-30000-first-time-since-june-sec-crypto-unit-hiring-crypto-world.html

Chicago Fed’s Goolsbee Emerges As First Rate Hike Dissenter, Urges “Caution” Amid Bank Failures

There appears to be “some” confusion at the Fed, or perhaps just a rising tide of politically-motivated dissent.

One day after NY Fed president John Williams, the man who sparked a revolt at the most important regional Federal Reserve bank for being too clueless, said that he doesn’t think rate hikes are behind the “issues” at failed banks, and even more idiotically, just hours after saying this morning that he doesn’t think bank failures will be a “big negative” for the US economy, another Fed president – this time the Fed’s extremely political Chicago Fed president – who previously served as Obama’s chief economist (and whose ascent to the top of the Chicago Fed was marred in yet another Fed scandal), refuted everything Williams said earlier when he warned that the Fed should exercise “prudence and patience” in raising interest rates further as central bankers assess just how much last month’s banking turmoil will contribute to tighter lending conditions.

“Given how uncertainty abounds about where these financial headwinds are going, I think we need to be cautious,” Goolsbee said Tuesday in prepared remarks for an Economic Club of Chicago event. “We should gather further data and be careful about raising rates too aggressively until we see how much work the headwinds are doing for us in getting down inflation.”

Translation: it’s time to pause the Fed’s rate hikes (which effectively would mean the end of the tightening cycle) and assess the damage the Fed has alr …

Read more at: https://www.zerohedge.com/markets/chicago-feds-goolsbee-emerges-first-rate-hike-dissenter-urges-caution-amid-bank-failures

Musk Folds Twitter Into “X Corp”, Fueling Speculation Over ‘Everything App’

While there’s been no official announcement, Twitter owner Elon Musk has folded the social media giant into a newly formed shell company called “X Corp,” fueling speculation that he’s going to integrate his $44 billion acquisition into an “everything app” that could – similar to China’s WeChat, include everything from payment processing to booking events, to messaging.

Early Tuesday morning, Musk tweeted “X” – in what Bloomberg assumed was a direct reference to the move.

X

— Elon Musk (@elonmusk) April 11, 2023

Read more at: https://www.zerohedge.com/technology/musk-folds-twitter-x-corp-sparking-speculation-over-everything-app

Leaked U.S. Intelligence Suggests Canadian Pipelines Targeted By Russian Hackers

By Charles Kennedy of OilPrice.com

A leaked package of intelligence information from the Pentagon has suggested that Canada’s natural gas pipeline network may have been targeted by Russia-linked hackers, the Canadian Press has reported.

According to the leaked documents, the hackers claimed to have gained access to the country’s gas distribution network. There was no information about any damage done.

“There’s a big disconnect between gaining access to a computer, in the industrial world, and knowing how to make it do physical things,” a cybersecurity executive told the Canadian Press.

“Criminal groups gain access to industrial facilities all the time. But just hitting buttons isn’t necessarily going to cause an …

Read more at: https://www.zerohedge.com/commodities/leaked-us-intelligence-suggests-canadian-pipelines-targeted-russian-hackers

Walmart Abandons Unprofitable Chicago Stores After Investing “Hundreds Of Millions” In City

After two decades of losses and “hundreds of millions of dollars” invested in Chicago, Walmart is shuttering four unprofitable stores in the metropolitan area, reducing its store footprint by half in the crime-ridden city.

“The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago – these stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years,” Walmart wrote in a press release.

Indeed, Walmart has soured on Chicago – the Democratic stronghold that went from a once beautiful metro area into an absolute hellhole. According to Walmart, the decision came after considerable investment in the town.

“Over the years, we have tried many different strategies to improve the business performance of these locations, including building smaller stores, localizing product assortment and offering services beyond traditional retail. We have invested hundreds of millions of dollars in the city, including $70 million in the last couple years to upgrade our stores and build two new Walmart Health facilities and a Walmart Academy training center.”

That said, the company hasn’t lost all faith in the city but is willing to take a loss with the four remaining stores:

Read more at: https://www.zerohedge.com/markets/walmart-shuts-down-four-chicago-stores-due-never-making-profit

UK to be one of worst performing economies in 2023 – IMF

It is predicted to be the worst-performing out of the G20 nations in 2023, including Russia.

Read more at: https://www.bbc.co.uk/news/business-65240749?at_medium=RSS&at_campaign=KARANGA

CBI boss Tony Danker ‘shocked’ at firing over misconduct claims

Tony Danker is dismissed by the business group following complaints about his conduct towards several employees.

Read more at: https://www.bbc.co.uk/news/business-65238672?at_medium=RSS&at_campaign=KARANGA

Tupperware warns of collapse unless it finds funds

The 77-year-old food storage business is facing a bleak future as it races to secure new financing.

Read more at: https://www.bbc.co.uk/news/business-65237293?at_medium=RSS&at_campaign=KARANGA

How taxation will impact equity investments in 2023

By understanding the impact of taxation on equity investments in India, investors can make informed investment decisions and optimize their returns while minimizing their tax liability.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/how-taxation-will-impact-equity-investments-in-2023/articleshow/99413895.cms

Banks, autos set to shine in Q4 earnings season. How other sectors may fare

According to MOSL Research, Nifty earnings are set to grow at 14% in Q4FY23.

Read more at: https://economictimes.indiatimes.com/markets/web-stories/banks-autos-set-to-shine-in-q4-earnings-season-how-other-sectors-may-fare/articleshow/99406911.cms

Bond Report: 2- and 10-year Treasury yields rise for fourth straight session ahead of U.S. inflation report

U.S. yields finish mostly higher on Tuesday as traders await the March consumer-price index report on Wednesday.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-71D1-0A9B77580D59%7D&siteid=rss&rss=1

The Moneyist: ‘Cry me a river, right?’: I sold our rental for $325,000. I want to invest the money. My wife wants to pay off our mortgage. Who’s right?

‘Why lock up more than $300,000 in the walls of our home?’

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-71CF-FD2DC527CC1E%7D&siteid=rss&rss=1