Nuclear Fusion: A Clean Energy Revolution Or A Radioactive Nightmare?

A friend of mine who was trained as a physicist used to joke about a future in which each of us would carry handheld fusion reactors that plug in anywhere to provide copious amounts clean energy for our homes, automobiles, offices and factories. The reality of fusion power, however, is one of huge scale and vast obstacles according to Daniel Jassby, a former research physicist at the Princeton Plasma Physics Lab. (All of what follows assumes that the remaining obstacles to producing net energy from fusion will be overcome. Addressing that issue…

Read more at: https://oilprice.com/Alternative-Energy/Nuclear-Power/Nuclear-Fusion-A-Clean-Energy-Revolution-Or-A-Radioactive-Nightmare.html

ERCOT Asks Texans To Conserve Energy To Avoid Blackouts

The Electric Reliability Council of Texas (ERCOT) is asking residents to take voluntary energy conservation measures to stave off more blackouts amid the current heatwave. In a notice to Texas residents on Tuesday, ERCOT asked consumers to curb electricity use between the hours of 4pm and 8pm—peak demand time. The conservation request is being made to prevent blackouts as the temperatures hover near 100 and are expected to stay there for some time. As a result of the heat, the Texas grid is straining under the weight of heavy demand, along…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/ERCOT-Asks-Texans-To-Conserve-Energy-To-Avoid-Blackouts.html

Transmission Problems Pose Risk For Renewables

You can tell what the press agents have to sell by the energy story of the week. A while ago it was small modular nuclear reactors, a promising technology that has so far produced more news stories than reactors. Then came carbon sequestration: burn whatever you want but stick the carbon somewhere. This is a creation of the oil industry’s relentless PR program and the likely theme of the next climate conference being staged in a Persian Gulf sheikdom. The story du jour, however, concerns the shortage of electric transmission infrastructure…

Read more at: https://oilprice.com/Energy/Energy-General/Transmission-Problems-Pose-Risk-For-Renewables.html

India Is Becoming A New Powerhouse In Global Steel Production

Via AG Metal Miner COVID-19, poor demand, and several other factors caused a drop in steel production worldwide the past few years. This included China, which is not only the biggest steel producer, but one with a massive impact on steel prices. Indeed, according to a report by the World Steel Association, global crude steel production, including semi-finished products, ingots, and liquid steel, fell to 1.89 billion tons in 2022. This is 3.9% less than 1.96 billion tons in 2021. The silver lining, as has become the norm now, was India. While…

Read more at: https://oilprice.com/Metals/Commodities/India-Is-Becoming-A-New-Powerhouse-In-Global-Steel-Production.html

Solar Silicon Prices Hit Rock Bottom Amid Overproduction

Spot prices for the main ingredient in solar photovoltaic systems are crashing hard and fast, fueled by a glut in China’s solar panel supply chain. Some companies manufacturing polysilicon make solar panels at a loss, while others have shuttered production.  Bloomberg data shows the average price of solar silicon plunged 22% from last week to $9.6 per kilogram, hitting levels not seen since the summer of 2020. Prices peaked on June 2022 at $39 and have since plunged 75.5%.  The main reason for the plunge is “polysilicon production far…

Read more at: https://oilprice.com/Alternative-Energy/Solar-Energy/Solar-Silicon-Prices-Hit-Rock-Bottom-Amid-Overproduction.html

Central And Eastern Europe Seeks Balance In Ukrainian Grain Trade

On May 25, the Council of the European Union ultimately renewed the temporary agreement for the bloc’s trade liberalization with Ukraine for another year (Consilium.europa.eu, May 25). The decision, which came into force on June 6, was not, however, easy to achieve as the EU’s eastern frontiers have been alarmed by the negative consequences this liberalization has had on a strategic segment of agricultural products. In response to that pressure, on June 5, the European Commission prolonged, until mid-September 2023, the ban on imports…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Central-And-Eastern-Europe-Seeks-Balance-In-Ukrainian-Grain-Trade.html

WTI Drops As Demand Fears Take Over Markets

WTI crude prices slid on Tuesday morning to just above $70 per barrel—an important psychological threshold for the U.S. crude oil benchmark. WTI was trading at $70.16 per barrel at 11:34 a.m. ET, a $1.62 (2.26%) drop on the day, as renewed fears of immediate lackluster global demand pervaded the oil markets. The Brent crude oil benchmark also was trading down on Tuesday—by 1.47%, to below $75 per barrel at $74.99. The catalysts behind the moves are generally demand-based. In a show of no confidence in its economy, China slashed its…

Read more at: https://oilprice.com/Energy/Crude-Oil/WTI-Drops-As-Demand-Fears-Take-Over-Markets.html

Drought Could Jeopardize Cargo Flows Through Panama Canal

The worst drought in Panama on record risks creating another bottleneck in global trade and strain supply chains as the water levels in the Panama Canal are at their lowest level since one of the world’s most important trade chokepoints opened for navigation in 1914. The Panama Canal, an important route connecting the Pacific Ocean with the Caribbean Sea and the Atlantic Ocean, has seen this year record-low water levels in its Gatún Lake. Authorities have already imposed some navigation restrictions to cope with the drought. Container…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Drought-Could-Jeopardize-Cargo-Flows-Through-Panama-Canal.html

China’s Stimulus Measures Prop Up Copper Prices

Via AG Metal Miner The Copper Monthly Metals Index (MMI) fell 4.29% from May to June as the average copper price continued to show short term volatility. Copper prices ultimately rebounded after declining in May. After the start of the month, the copper price index started forming short-term patterns that showed potential upside reversal. However, price action would need to continue up and break through resistance levels to establish a clear uptrend. China Stimulus Sees the Copper Price Rally Source: MetalMiner Insights…

Read more at: https://oilprice.com/Metals/Commodities/Chinas-Stimulus-Measures-Prop-Up-Copper-Prices.html

German Carmakers To Suffer As China’s EV Boom Accelerates

The slump in exports of Germany’s auto industry to China in the first quarter of 2023 could be the beginning of a new long-term trend of “strong disruption” in German-Chinese trade as China’s electric vehicle boom accelerates, a German economic research institute said on Tuesday. German exports of motor vehicles and engines to China plunged by 26% year-on-year in the first quarter of 2023, researchers at the IW institute in Cologne wrote in a report published on Tuesday. Due to the high share of those goods in Germany’s…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/German-Carmakers-To-Suffer-As-Chinas-EV-Boom-Accelerates.html

Oil Prices Fall On Chinese Demand Fears

Oil prices fell on Tuesday morning as uncertainty around Chinese oil demand continues to grow – particularly in the near-term.Chart of the Week- Chinese refiners added some 1.77 million b/d of crude to their inventories in May, equivalent to 53 MMbbls, the most since July 2020, making it unlikely that China would go on a buying spree anytime soon.    – The inventory build-up stemmed from a period of lower refinery runs in April-May, just as spring maintenance was peaking, taking the aggregate amount of crude in Chinese storage to almost…

Read more at: https://oilprice.com/Energy/Energy-General/Oil-Prices-Fall-On-Chinese-Demand-Fears.html

China’s Imports Of Russian Crude Oil Hit A Record High

China’s crude oil imports from Russia soared to an all-time high of 2.29 million barrels per day (bpd) in May as refiners in the world’s top crude oil importer continue to buy discounted Russian oil.   China’s imports of Russian crude oil jumped by 15.3% compared to May last year and surged by 32.4% compared to the 1.73 million bpd crude imports from Russia in April, per data from the Chinese General Administration of Customs cited by Reuters. Saudi Arabia, Russia’s main competitor in the Chinese market and Moscow’s…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Chinas-Imports-Of-Russian-Crude-Oil-Hit-A-Record-High.html

Russia’s Crude Oil Exports Still Higher Than Before It Pledged To Cut

Russia’s crude oil exports by sea fell slightly in the four weeks to June 18, but were still 250,000 barrels per day (bpd) higher compared to February, which serves as a baseline for the 500,000-bpd production cut Russia has promised this year.   In the four weeks to June 18, Russia’s four-week average volume of crude shipments from its key export terminals inched down to 3.63 million bpd, compared to a 3.66 million bpd four-week average for the period to June 11, tanker-tracking data monitored by Bloomberg showed on Tuesday. Despite…

Read more at: https://oilprice.com/Energy/Energy-General/Russias-Crude-Oil-Exports-Still-Higher-Than-Before-It-Pledged-To-Cut.html

Indonesia To Stop Exports Of Copper Concentrates In 2024

Copper producer Indonesia will stop exporting copper concentrates in 2024 when two major domestic copper companies finish building their smelters and start processing the raw material locally, Indonesia’s President Joko Widodo said on Tuesday. Freeport Indonesia and Amman Mineral are expected to start copper processing at their respective new smelters in May 2024, the president said in a speech carried by Bloomberg. “If these two big companies complete their smelters, that means we will no longer export raw copper because it will be…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Indonesia-To-Stop-Exports-Of-Copper-Concentrates-In-2024.html

Qatar To Sign Second Huge Long-Term LNG Deal With China

Qatar and China are set to sign imminently a new major long-term deal under which QatarEnergy will supply LNG to a Chinese state-controlled energy giant, the Financial Times reported on Tuesday. At the end of last year, Qatar’s state firm QatarEnergy signed the longest-term contract in the history of the LNG industry in a deal to supply liquefied natural gas to Chinese state energy giant Sinopec for 27 years. QatarEnergy will supply China Petroleum & Chemical Corporation (Sinopec) with 4 million tons per annum (MTPA) of LNG to China from…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Qatar-To-Sign-Second-Huge-Long-Term-LNG-Deal-With-China.html

Stocks close lower for a second straight day, Dow sheds 200 points as market rally cools: Live updates

Wall Street struggled to carry over the positive momentum from last week.

Read more at: https://www.cnbc.com/2023/06/19/stock-market-today-live-updates.html

Hunter Biden to plead guilty to federal tax crimes, take deal on gun charge

Hunter Biden, the son of President Joe Biden, has been under investigation for tax and gun offenses by a Delaware federal prosecutor appointed by Donald Trump.

Read more at: https://www.cnbc.com/2023/06/20/hunter-biden-to-plead-guilty-to-federal-criminal-tax-charges.html

It’s official: Student loan payments will restart in October, Education Department says

The U.S. Department of Education says student loan payments “will be due starting in October.” Interest on their debt will begin accruing even sooner.

Read more at: https://www.cnbc.com/2023/06/20/its-official-student-loan-payments-will-restart-in-october.html

Bitcoin hits new high for June as more financial incumbents signal commitment to crypto

Bitcoin climbed on Monday as more financial institutions gave their bitcoin blessing after BlackRock filed for a spot bitcoin ETF last week.

Read more at: https://www.cnbc.com/2023/06/20/bitcoin-hits-new-high-for-june-as-more-financial-incumbents-signal-commitment-to-crypto.html

The Grayscale Bitcoin Trust is getting a boost from BlackRock. Here’s what you need to know

The Grayscale Bitcoin Trust (GBTC), which has long traded at a steep discount to its net asset value, has risen sharply since Thursday.

Read more at: https://www.cnbc.com/2023/06/20/the-grayscale-bitcoin-trust-is-getting-a-boost-from-blackrock-heres-what-to-know.html

Missing Titanic sub posed risk of ‘extreme danger’ to passengers, OceanGate exec warned in 2018

The OceanGate Expeditions submersible vanished while diving to visit the Titanic. Passengers include Hamish Hardin, and Pakstani businessman Shahzada Dawood

Read more at: https://www.cnbc.com/2023/06/20/missing-titanic-submersible-41-hours-or-less-of-oxygen-left.html

Chris Christie lures big donors as he takes on Trump, while billionaire ally Cohen sits out

Former New Jersey Gov. Chris Christie is picking up support from several wealthy donors as he takes on Donald Trump and a crowded GOP field.

Read more at: https://www.cnbc.com/2023/06/20/chris-christie-big-donors-trump-fight.html

Bed Bath & Beyond schedules separate auction for Buy Buy Baby assets

Bed Bath & Beyond is holding a separate bankruptcy-run sale process for Buy Buy Baby, considered the crown jewel of its assets.

Read more at: https://www.cnbc.com/2023/06/20/bed-bath-beyond-schedules-separate-auction-for-buy-buy-baby-assets.html

Ukraine war live updates: Russia fines Telegram and Viber for ‘illegal’ war content; Putin open to talking about Ukraine, Kremlin says

Air raids sounded across Ukraine in the early hours of Tuesday morning amid Russian attacks targeting Kyiv and Lviv and the region of Zaporizhzhia.

Read more at: https://www.cnbc.com/2023/06/20/ukraine-war-live-updates-latest-news-on-russia-and-the-war-in-ukraine.html

Binance and SEC reach deal over U.S. assets, and Fidelity-backed exchange goes live: 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, Rebecca Rettig, chief policy officer of Polygon Labs, addresses the SEC’s claim that the MATIC token is a security. She also explains the company’s new database for blockchain use cases.

Read more at: https://www.cnbc.com/video/2023/06/20/binance-sec-reach-deal-over-us-assets-fidelity-backed-exchange-goes-live-cnbc-crypto-world.html

Amazon HQ2 is not matching the original hype. The economy is partly to blame

Amazon’s scaled back Amazon HQ2 plans show an economy, from inflation to interest rates and a tight labor market, that is slowing corporate expansion ambitions.

Read more at: https://www.cnbc.com/2023/06/20/amazon-hq2-is-not-matching-original-hype-economy-is-partly-to-blame.html

Why more and more colleges are closing down across the U.S.

The mid-2010’s saw an uptick in U.S. college closures, particularly among private nonprofit schools, and experts say this may be only the beginning.

Read more at: https://www.cnbc.com/2023/06/17/why-more-and-more-colleges-are-closing-down-across-the-us.html

Mature content comes to Roblox for users aged 17 and up

Roblox announces eligible creators can build experiences with mature content for users 17 and older.

Read more at: https://www.cnbc.com/2023/06/20/mature-content-comes-to-roblox-for-users-aged-17-and-up.html

‘I Can Go Into Anyone’s House At Any Time’: Judiciary Committee Investigates IRS Agent Threatening Taxpayer

Authored by Naveen Athrappully via The Epoch Times (emphasis ours),

The Internal Revenue Service building is seen in Washington, D.C., on July 22, 2013. (Win McNamee/Getty Images)An IRS agent used a fake identity to approach and threaten a taxpayer, following which House Judiciary Committee chairman Rep. Jim Jordan (R-Ohio) sent a letter to IRS Commissioner Daniel Werfel seeking further information on the incident.

The incident occurred on April 25, 2023, when an IRS agent identifying as “Bill Haus” with the agency’s Criminal Division visited the home of a taxpayer residing in Marion, Ohio, according to the Jun …

Read more at: https://www.zerohedge.com/political/i-can-go-anyones-house-any-time-judiciary-committee-investigates-irs-agent-threatening

China Plans Military Base In Cuba In Response To US Support For Taiwan

Chinese troop stationed on America’s doorstep? The Wall Street Journal is reporting Tuesday that China is in negotiations with the Cuban government to establish a a new joint military training facility on the island.

The newspaper says the two sides are already in advanced negotiations about opening the facility, which would reportedly be in northern Cuba, sparking fears among US officials that it could eventually host a permanent Chinese troop presence. The Biden administration is seeking to intervene with Cuban officials, attempting to block the possibility.

It’s also believed that China would expand its espionage capabilities and activities given the military foothold would be a mere 100 miles off Florida’s coast. This comes on the heels of widespread reports earlier this month that China wants to use Cuba as a base of spy operations, to potentially sweep up communications of American military installations across the southeast United States.

Read more at: https://www.zerohedge.com/geopolitical/china-seeks-military-base-cuba-response-us-bolstering-taiwan-us-officials-admit

Tucker Carlson Savages Bidens Over Hunter’s ‘Slap On The Wrist’ For Tax, Gun Crimes

Tucker Carlson savaged the Biden family on Tuesday, hours after it was announced that Hunter Biden would receive a slap on the wrist – and would only be required to plead guilty to simple tax crimes and a gun charge, despite what many would say is obvious evidence that he’s been acting as a foreign agent.

Carlson noted how none of the charges have to do with influence peddling – including Hunter’s alleged role as an international bag man for the Biden family (alleged, of course), which included a $10 million payment from Burisma to Hunter and Joe Biden, according to an FBI source.

“Investigators had ‘identified payments to Biden family members from foreign companies, while Joe Biden served as Vice President and after he left public office.'”

Read more at: https://www.zerohedge.com/political/tucker-carlson-savages-bidens-over-hunters-slap-wrist-tax-gun-crimes

Morningstar Says ‘Anti-ESG’ Fund Hype Might Be Over. But Is It?

The investor pushback against “woke capitalism” has led to the proliferation of funds that market themselves as opposed to environmental, social, or governance (ESG). A new report via Morningstar reveals even though anti-ESG funds gained momentum in late 2022, popularity for the funds has since waned.

Morningstar said anti-ESG funds peaked at around $377 million during the third quarter of 2022, more than five times the previous quarterly record. Total new deposits fell to $188 million in the fourth quarter and were about the same in the first three months of 2023.

Over April and May, the funds only took in about $58 million, Morningstar spokesperson Erin Parro told Reuters. She said the current trend into anti-ESG funds “seems like a drizzle” compared with the rush last year when GOP lawmakers vilified ESG moves at BlackRock and Vanguard.

“Although there’s been a lot of ta …

Read more at: https://www.zerohedge.com/markets/morningstar-says-anti-esg-fund-hype-might-be-over-it

MOVEit hack: Gang claims not to have BBC, BA and Boots data

Cyber criminals say they do not have data belonging to UK organisations thought to be victims of a mass hack.

Read more at: https://www.bbc.co.uk/news/technology-65965453?at_medium=RSS&at_campaign=KARANGA

Jeremy Hunt rules out government help on mortgages

Jeremy Hunt says help for mortgages would fuel further inflation but will meet lenders this week.

Read more at: https://www.bbc.co.uk/news/business-65963510?at_medium=RSS&at_campaign=KARANGA

Rent: ‘We’ve got £1,750 a month and can’t find anywhere’

Tenants are spending 28% of their earnings on rent, the biggest proportion for a decade, new figures show.

Read more at: https://www.bbc.co.uk/news/business-65903095?at_medium=RSS&at_campaign=KARANGA

Promoter Abrdn sells entire stake in HDFC AMC for Rs 4,079 cr; Morgan Stanely, SBI MF among buyers

This follows the UK investor’s exit from private insurer HDFC Life, where it sold some INR2,000cr of shares in the pre-merger stake sale. HDFC AMC returned to shareholders nearly 123 times the cost of its pre-IPO investment, while its shares rallied almost 11.39% to INR2,108.05 on Tuesday.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/promoter-abrdn-sells-entire-stake-in-hdfc-amc-for-rs-4079-cr-morgan-stanely-sbi-mf-among-buyers/articleshow/101142422.cms

Tech View: Nifty may zoom past Mt 19K in 1-2 weeks. What should traders do on Wednesday

The index has broken out of its higher high formation of the last five sessions. Now, it has to hold above 18,777 zones to witness an up move towards 18,888 and 19,000 zones, while on the downside support exists at 18,710 and 18,666 zones, said Chandan Taparia of Motilal Oswal.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-may-zoom-past-mt-19k-in-1-2-weeks-what-should-traders-do-on-wednesday/articleshow/101136913.cms

Promoter pledge in these 5 cos significantly down in FY23, stocks turn multibaggers

Several BSE500 companies, including Apollo Tyres, Jindal Stainless, NCC, Suzlon Energy, and CG Power and Industrial Solutions, saw their stocks turn multibaggers after a significant reduction in the pledge shares of promoters in the last four quarters. Lemon Tree Hotels also saw considerable fall in pledge shares. The efforts taken by corporates and promoters to deleverage balance sheets in recent years is one of the major factors that has put India in a better position compared to its emerging market peers. India’s major transformation includes Make in India, GST, digitalization, new bankruptcy law, and a sharp decline in corporate balance sheet leverage.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/promoter-pledge-in-these-5-cos-significantly-down-in-fy23-stocks-turn-multibaggers/articleshow/101123062.cms

Most Ukrainian businesses are fully operational, says Kyiv-based American Chamber of Commerce

Chamber president calls for clear mechanisms for companies to claim compensation from Russia for damages caused by the invasion.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7217-44A518A5505F%7D&siteid=rss&rss=1

Bond Report: 30-year Treasury yield drops to five-week low, with Fed speakers still ahead

Treasury yields fall on Tuesday as traders gear up for a big week of commentary by Federal Reserve policy makers.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7216-BC2E993409B7%7D&siteid=rss&rss=1

Futures Movers: Oil prices end lower, failing to hold gains after China delivers rate cut

Oil futures end lower, failing to find support after China’s central bank delivers more stimulus.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-7216-BD13C23E202F%7D&siteid=rss&rss=1