675 Million People Without Power: IEA

A total of 675 million people around the world were without power in 2021, according to a new report released on Tuesday. A new report published by the International Energy Agency, The International Renewable Energy Agency, the United Nations Statistics Division, the World Bank, and the World Health Organization said that most of the 675 million people without access to electricity were in sub-Saharan Africa. That figure is about half what it was in 2010, the report found, when more than 1 billion people worldwide were without electricity. Roughly…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/675-Million-People-Without-Power-IEA.html

The 3 Most Exciting Oil And Gas Exploration Plays In South America

After Exxon’s string of high-quality oil discoveries in offshore Guyana delivered more than 11 billion barrels of oil resources South America started garnering considerable attention from energy investors.  This saw South America emerge big oil’s new favorite continent. While analysts describe Guyana as the world’s most exciting frontier oil play it is not the only South American country attracting interest from global energy companies. Argentina is undergoing a massive unconventional oil and gas boom which sees the crisis-riven…

Read more at: https://oilprice.com/Energy/Energy-General/The-3-Most-Exciting-Oil-And-Gas-Exploration-Plays-In-South-America.html

Gas Stove Regulations Aren’t Done Deal Just Yet

Republican lawmakers are not letting the gas stove go quietly into that good night, instead planning two votes this afternoon that would keep Democrats from regulating the appliance that found itself in the center of climate crosshairs. The Gas Stove Protection and Freedom Act and the Save Our Stoves Act are both expected to be up for votes this week. The first would keep the CPSC from utilizing federal funds to ban gas stoves. The second would prevent the Energy Department from finalizing its rules that created efficiency standards for them. Republicans…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Gas-Stove-Regulations-Arent-Done-Deal-Just-Yet.html

Emerging Markets Harness The Power Of Saltwater Batteries

As emerging markets seek to accelerate their energy transitions by increasing solar and wind power capacity, recent technological advancements that harness the sodium from saltwater could provide a crucial breakthrough in battery storage. In recent months start-ups and researchers have debuted saltwater battery technologies that promise cheaper capacity to store variable solar and wind power at scale, a development that could help to reduce global dependence on lithium. In January US-based tech start-up Salgenx unveiled a saltwater flow battery…

Read more at: https://oilprice.com/Energy/Energy-General/Emerging-Markets-Harness-The-Power-Of-Saltwater-Batteries.html

US Intelligence Community Warned Of Ukrainian Plot Of NordStream Sabatoge: WaPo

The CIA was warned in June that Ukrainian special forces had planned an attack on Russia’s Nord Stream natural gas pipelines, according to an exclusive from the Washington Post. The heads-up from a European spy agency came months before the Nord Stream gas pipeline suffered at the hands of what most official investigations deemed gross sabotage. The warning said that the attacks would be carried out by a small team of divers who reportedly directly to the commander in chief of the Ukrainian armed forces, the Washington Post suggests. The…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-Intelligence-Community-Warned-Of-Ukrainian-Plot-Of-NordStream-Sabatoge-WaP.html

China And Russia Lock Horns Over Kazakhstan’s Uranium

Kazakhstan is the largest producer and exporter of uranium globally, mining and exporting more than 40 percent of the world’s supply. Up to now, it has been the major supplier for Russia and before that the Soviet Union. But today, other countries are becoming involved, including Western countries such as the United States, which wants to limit its imports of Russian-processed uranium, and China, which hopes to transition from the coal-fired production of electricity to a heavy reliance on nuclear power plants over the next decade. That,…

Read more at: https://oilprice.com/Geopolitics/International/China-And-Russia-Lock-Horns-Over-Kazakhstans-Uranium.html

Chinese Steel Prices Fall To Three-Year Low

Via AG Metal Miner For the past year or two, steel analysts and experts have talked about how China’s market is now more open. Simultaneously, they discussed how domestic steel demand had surged due to increased infrastructure spending. The way they made it sound, low steel prices would soon become a thing of the past. This week, prices for Chinese steel rebar fell to their lowest level in three years. Last Thursday, the spot price for HRB400 20mm steel rebar, essential for reinforcing concrete, dropped to roughly U.S. $507.80 (3,510…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Chinese-Steel-Prices-Fall-To-Three-Year-Low.html

India Unveils Battery Storage Subsidy Scheme As Part Of Renewable Push

India has unveiled an ambitious initiative to provide 37.6 billion rupees ($455.2 million) in subsidies to stimulate the establishment of battery storage projects. The projects, which are expected to yield an impressive 4,000 megawatt hours (MWh) of energy, are part of a broader scheme announced earlier this year to bolster the country’s renewable energy capacity to a whopping 500 gigawatts (GW) by 2030. While specifics about the scheme were initially undisclosed, the government has clarified that one of its key objectives is…

Read more at: https://oilprice.com/Energy/Energy-General/India-Unveils-Battery-Storage-Subsidy-Scheme-As-Part-Of-Renewable-Push.html

Decentralized Finance Gains Ground In The GCC

As GCC countries look to harness new forms of financial technology (fintech) such as blockchain, deepen their financial services and expand financial inclusion, governments are embracing decentralized finance (DeFi) and are working to attract cryptocurrency companies to the region. In DeFi – peer-to-peer financial services with no central authority or intermediary involved in trading, lending, investing and other activities – GCC countries see the opportunity to diversify their economies and embrace Web3 technologies – such as…

Read more at: https://oilprice.com/Energy/Energy-General/Decentralized-Finance-Gains-Ground-In-The-GCC.html

Shell Halts Unit At Europe’s Biggest Refinery Due To Leak

Shell said on Tuesday that it had halted a unit at Europe’s largest oil refinery, Pernis in Rotterdam, due to a leak. “Due to a leak on one of our units, it was decided to temporarily take it out of service for repair,” the UK-based supermajor said in a statement carried by Reuters. Shell declined to comment for Reuters on what type the leak was, which unit was halted, or how long the outage would last.   Pernis is the largest oil refinery in Europe and has the capacity to process more than 400,000 barrels per day (bpd) of…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Shell-Halts-Unit-At-Europes-Biggest-Refinery-Due-To-Leak.html

Russian Oil Output Remains High Much To OPEC’s Dismay

Russian crude oil export data in recent weeks have not reflected any cuts and OPEC+ allies are increasingly frustrated with its non-compliance Russia’s crude oil exports by sea continue to stay high as the latest four-week average shows that shipments are inching up, much to the frustration of its partners in the OPEC+ deal. In the four weeks to June 4, the four-week average Russian crude exports by sea rose to 3.73 million barrels per day (bpd), up from a revised 3.68 million bpd in the four weeks to May 28, tanker-tracking data monitored…

Read more at: https://oilprice.com/Energy/Crude-Oil/Russian-Oil-Output-Remains-High-Much-To-OPECs-Dismay.html

Ukraine And Russia Trade Accusations Over Huge Hydropower Dam Blow-Up

Ukraine and Russia on Tuesday blamed each other for blowing up a hydroelectric dam in Ukraine’s Kherson region, currently under Russian occupation, which prompted evacuation after flooding followed the collapse of the dam. The collapse of the dam in Nova Kakhovka could affect the Zaporizhzhya nuclear power plant, Europe’s largest. Energoatom, the Ukrainian nuclear operator, said in a Telegram post, “On the night of June 6, 2023, the Russian occupationists blew up the Kakhovka dam.” “Water from the Kakhovka reservoir…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Ukraine-And-Russia-Trade-Accusations-Over-Huge-Hydropower-Dam-Blow-Up.html

Dam Destruction Threatens Ukraine’s Largest Nuclear Plant

Ukraine has accused Russia of blowing up a huge Soviet-era dam on the Dnieper River in a Moscow-occupied area in the south, sending millions of liters of water cascading through the region in what President Volodymyr Zelenskiy called an act of “terror.” Ukrainian authorities said tens of thousands of people were being evacuated from areas threatened by massive flooding downstream in the Kherson region after the attack in the early hours of June 6. Within hours, water levels had already risen by 10 to 12 meters, they added. The mayor of…

Read more at: https://oilprice.com/Geopolitics/International/Dam-Destruction-Threatens-Ukraines-Largest-Nuclear-Plant.html

NEOM Secures $5 Billion Investment From Local Investors

Saudi Arabia’s megaproject NEOM has attracted an investment of $5.6 billion from local investors. According to Bloomberg, four local firms will build temporary housing and construction facilities for some 95,000 workers in a public-private partnership deal. The futuristic city, a plan from Saudi crown prince Mohammed bin Salman will be built on 10,200 sq. miles of desert and Riyadh is planning for it to become the “world’s most ambitious tourism project.”. To diversify its economy, Saudi Arabia is also looking for the city to become a testbed…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/NEOM-Secures-5-Billion-Investment-From-Local-Investors.html

Shell Pulls The Plug On European Retail Energy Arm

Shell has recently confirmed its decision to exit the retail energy markets in the UK, Germany, and the Netherlands due to poor returns.  This move comes as part of Shell’s strategic review of its European retail businesses, which was initiated earlier this year in response to challenging market conditions.  “That review has now concluded and as a consequence, we intend to exit those businesses. A sales process is already underway, with the intent to reach an agreement with a potential buyer in the…

Read more at: https://oilprice.com/Energy/Energy-General/Shell-Pulls-The-Plug-On-European-Retail-Energy-Arm.html

I tried the Apple Vision Pro mixed-reality headset — here’s what it’s like

Apple’s Vision Pro is a massive improvement over other virtual- or mixed-reality headsets, with sharp displays and an impressive surround sound audio system.

Read more at: https://www.cnbc.com/2023/06/06/apple-vision-pro-hands-on-first-impressions-from-wwdc-2023.html

PGA Tour agrees to merge with Saudi-backed rival LIV Golf

The PGA Tour is merging with Saudi-backed rival LIV Golf, following months of tensions and mounting lawsuits between the competitors.

Read more at: https://www.cnbc.com/2023/06/06/pga-tour-agrees-to-merge-with-saudi-backed-rival-liv-golf.html

Boeing warns new defect on 787 Dreamliners will slow deliveries

Boeing said the issue isn’t related to flight safety and that 787 Dreamliner planes in service can continue operating.

Read more at: https://www.cnbc.com/2023/06/06/boeing-warns-of-new-defect-on-787-dreamliners.html

S&P 500 ticks up on Tuesday to close at the highest level in 2023: Live updates

Investors are coming off a losing day.

Read more at: https://www.cnbc.com/2023/06/05/stock-market-today-live-updates.html

Meredith Whitney is back. Here’s her latest market call

“People are sitting on big piggy banks and they’re not sweating it,” Whitney told CNBC.

Read more at: https://www.cnbc.com/2023/06/06/meredith-whitney-is-back-heres-her-latest-market-call.html

The destruction of a major Ukrainian dam could have grave consequences. Here’s what we know so far

The damage to the dam has raised fears about safety, water supply and Europe’s largest nuclear power plant.

Read more at: https://www.cnbc.com/2023/06/06/ukraine-war-breach-of-nova-kakhovka-dam-unleashes-floodwaters.html

Former New Jersey Gov. Chris Christie, a top GOP Trump critic, files paperwork to launch 2024 presidential campaign

Christie’s bid could inject a dose of anti-Trump criticism into a Republican primary field that has largely been reluctant to cross its leading candidate.

Read more at: https://www.cnbc.com/2023/06/06/chris-christie-top-gop-trump-critic-launches-presidential-bid.html

GitLab shares rocket 33% as software vendor boosts forecast, announces generative A.I. plans

GitLab beat on the top and bottom lines and increased its full-year guidance after raising the price of its premium subscription.

Read more at: https://www.cnbc.com/2023/06/06/gitlab-gtlb-q1-earnings-report-2024.html

Ukraine war live updates: Ukraine and Russia blame each other for breaching dam in Kherson region; 1,300 residents evacuated so far

Ukraine and Russia have both begun emergency evacuations in parts of the southern Kherson region as flooding spreads.

Read more at: https://www.cnbc.com/2023/06/06/ukraine-war-live-updates-latest-news-on-russia-and-the-war-in-ukraine.html

3 big changes student loan borrowers could see when payments restart

With the Biden administration working to overhaul the federal student loan system, borrowers may see a number of changes when they begin repayment.

Read more at: https://www.cnbc.com/2023/06/06/3-big-changes-student-loan-borrowers-could-see-when-payments-restart.html

Canadian wildfire smoke creates hazy skies and unhealthy air quality in New York City

The sky over New York City had an orange glow on Tuesday morning and the sun was largely obscured by a smoky haze.

Read more at: https://www.cnbc.com/2023/06/06/canadian-wildfire-smoke-creates-unhealthy-air-quality-in-nyc.html

This Black-owned startup is fixing and learning from broken EV charging stations

Kameale Terry founded ChargerHelp! barely three years ago and says the company is now servicing electric vehicle charging stations across 17 states.

Read more at: https://www.cnbc.com/2023/06/06/black-owned-startup-is-fixing-broken-ev-charging-stations.html

Recalled Boppy baby pillow linked to 10 infant deaths still widely sold on Facebook marketplace, regulators say

At least 10 infant deaths have been linked to Boppy newborn loungers but the pillows are still being widely sold on Facebook marketplace, according to the CPSC.

Read more at: https://www.cnbc.com/2023/06/06/recalled-boppy-lounger-linked-to-infant-deaths-sold-on-facebook.html

Rogue Republicans Tank GOP Bills To Spite McCarthy

Eleven House Republicans – most of them in the Freedom Caucus – joined Democrats on Tuesday in voting against a rule to advance four bills attempting to overturn Biden administration regulations to control gas stoves, in order to send a big ‘f-you’ to Speaker Kevin McCarthy for breaking his promises to the Caucus and negotiating a debt deal that largely favors the Democrats.

The move was enough to tank the rule and block the legislation from advancing to the floor.

Just before the vote closed, House Majority Leader Steve Scalise (R-La.) changed his vote to oppose the rule as well so he could bring the rule back up later. The final vote was 206-220.

The revolt made for a dramatic scene on the House floor, where Scalise huddled with more than a dozen conservatives in the back of the chamber in a tense effort to flip votes and allow the bills to advance to the floor. -The Hill

“We’re frustrated at the way thi …

Read more at: https://www.zerohedge.com/political/rogue-republicans-tank-gop-bills-spite-mccarthy

In Rebuke To Trump, DeSantis Says “Woke” Is “Existential Threat To Our Society”

Authored by Steve Watson via Summit News,

After Donald Trump proclaimed at the weekend that he doesn’t like the term ‘woke’ because nobody knows what it really means, his GOP challenger Ron DeSantis charged that those who do not treat it as an “existential threat” are missing the point.

Commenting to reporters on Trump’s comments, DeSantis noted “Woke is an existential threat to our society,” adding that “to say it’s not a big deal, that just shows you don’t understand what a lot of these issues are right now.”

DeSantis described woke as a “form of Cultural Marxism,” and “basically a war on the truth,” adding “it’s about putting merit and achievement behind identity politics.”

“As that has infected institutions, and it has corrupted institutions. S …

Read more at: https://www.zerohedge.com/political/rebuke-trump-desantis-says-woke-existential-threat-our-society

1000s Evacuated As Massive Wall Of Water Surges Through Ukraine After Major Dam ‘Blown Up’

Images and videos posted on social media show a major dam and hydroelectric power plant in the Russian-occupied region of Kherson, located in southern Ukrainian, destroyed early Tuesday. Water rushed through the dam into the Dnieper River, which separates Ukrainian and Russian forces. Both sides accuse each other of the attack that puts tens of thousands of homes at risk and might even threaten the safety of Europe’s largest nuclear power plant.

Source: Washington PostIt was not immediately clear who was responsible for blowing up the Nova Kakhovka dam. Ukraine’s President Volodymyr Zelenskyy posted a drone video showing the damaged dam as water gushed downriver. Zelenskyy blamed “Russian terrorists.”

Russian terrorists. The destruction of the Kakhovka hydroelectric power plant dam only confirms for the whole world that they must …

Read more at: https://www.zerohedge.com/geopolitical/massive-wall-water-surges-through-ukraine-after-major-dam-blown

DHS Faces Backlash Over App Used To Grant Would-Be Illegal Immigrants Entry To US

Authored by Brad Jones via The Epoch Times,

Critics have accused the Biden administration of downplaying the number of potential illegal immigrants that could enter the United States under two separate programs used to grant “humanitarian parole” to applicants who use a mobile phone app to book appointments at U.S. ports of entry.

U.S. Customs and Border Protection (CBP), under the direction of Department of Homeland Security (DHS) Secretary Alejandro Mayorkas, expanded the CBP One app in April 2022.

Erin Heeter, a DHS spokesperson, told the Epoch Times via email that as of June 1, DHS increased CBP One appointments from 1,000 to 1,250 a day, which amounts to nearly 40,000 appointments per month.

However, it’s unclear how many people are includ …

Read more at: https://www.zerohedge.com/political/dhs-faces-backlash-over-app-used-grant-would-be-illegal-immigrants-entry-us

CBI: Scandal-hit business group wins survival vote

Members have backed the lobbying giant but some say they will continue to pause engagement.

Read more at: https://www.bbc.co.uk/news/business-65809069?at_medium=RSS&at_campaign=KARANGA

Sainsbury’s chief executive total pay rises to £5m

Simon Roberts earned a bonus and share awards despite a drop in profits at the supermarket chain.

Read more at: https://www.bbc.co.uk/news/business-65828000?at_medium=RSS&at_campaign=KARANGA

US sues Coinbase as crypto crackdown widens

The Securities and Exchange Commission says the company has not followed financial rules.

Read more at: https://www.bbc.co.uk/news/business-65824886?at_medium=RSS&at_campaign=KARANGA

4 Adani group stocks set to rally Wednesday as BSE increases circuit limits

For Adani Green Energy, Adani Transmission, and Adani Wilmar, the circuit limits have been revised to 10% from 5%. The biggest boost is for Adani Power as the circuit limit has been increased to 20% from 5%.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/4-adani-group-stocks-set-to-rally-wednesday-as-bse-increases-circuit-limits/articleshow/100801563.cms

Ahead of Market: 10 things that will decide D-Street action on Wednesday

Indian equity indices closed flat on Tuesday, as gains in autos and real estate offset a drop in information technology stocks ahead of an anticipated pause in the US Federal Reserve’s rate hike. Analysts predict that the general trend will continue to remain flat, though there is potential floor support at 18,500 and resistance at 18665 for the index.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-market-10-things-that-will-decide-d-street-action-on-wednesday/articleshow/100800634.cms

The Moneyist: ‘Am I cheap?’ I used to give my nieces and nephews $100 gift cards, but I left my job in tech for a stress-free life. Is $25 insulting?

‘I have been generous in the past when giving gifts for graduations or birthdays.’

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-720A-08B091AF689C%7D&siteid=rss&rss=1

The Ratings Game: Bud Light boycott is helping one of the beer’s main rivals, analysts say

The boycott of Bud Light over its partnership with a trans influencer has endured long enough to help one of its main rivals, BofA analysts said.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-720B-7DE14F3DE48B%7D&siteid=rss&rss=1

Market Snapshot: Small-cap stocks rally while Dow dips, as investors consider economic outlook

U.S. stocks were trading mostly lower in choppy trading Tuesday, as investors wait for May inflation data due next week just ahead of the Federal Reserve’s policy meeting now that the federal debt ceiling issue has been resolved.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-720A-F7FB2EC710B5%7D&siteid=rss&rss=1