Vietnam’s Rare Earth Riches Become Focus Point For U.S. And China

By Sohrab Darabshaw via AGMetalminer.com Vietnam finds itself wooed by two large world powers. However, this time, it is not over any geopolitical consideration, but for a resource that the modern world covets: rare earths. China and the U.S. are locked in a race to court a country that boasts the world’s second-largest rare earth deposits. However, much of Vietnam’s rare earths remain untapped thanks to China’s near-monopoly over global markets. With the West, led by the U.S., no longer wanting to rely on China alone for rare…

Read more at: https://oilprice.com/Energy/Energy-General/Vietnams-Rare-Earth-Riches-Become-Focus-Point-For-US-And-China.html

Bill Gates Thinks Wealthy Investors Should Risk More on Clean Energy Solutions

Bill Gates believes we’re going to miss global heating goals based on the current rate of the green transition and thinks that billionaires and governments from rich nations could play a major role in global decarbonization. Gates recently stated that he expects the world to fail to achieve the below 2-degree Celsius heating objective set out in the Paris Agreement, although he praised the rapid adaption of several countries attempting a green transition.  This December, the billionaire co-founder of Microsoft said that the world is…

Read more at: https://oilprice.com/Energy/Energy-General/Bill-Gates-Thinks-Wealthy-Investors-Should-Risk-More-on-Clean-Energy-Solutions.html

Oil Sinks to 6 Month Low As Inflation Fears Persist

Crude oil prices dropped sharply on Tuesday, with WTI falling by more than 4 percent as traders appear spooked by the consumer price index, which increased by 3.1 percent from November 2022 to November 2023, The Labor Department said on Tuesday. The CPI rose 0.1 percent from October to November, the most recent data showed. While inflation fears contributed to falling oil prices, the commodity has struggled to find its footing since OPEC+ disappointed the markets with voluntary production cuts from its members that are set to take place on January…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Sinks-to-6-Month-Low-As-Inflation-Fears-Persist.html

Chinese Scientists Present Solar-Powered Water Harvesting Technology

Researchers from Shanghai Jiao Tong University in China developed a promising new solar-powered atmospheric water harvesting technology that could help provide enough drinking water for people to survive in those difficult, dryland areas. Their work was published in Applied Physics Reviews, an AIP Publishing journal. More than 2.2 billion people currently live in water-stressed countries, and the United Nations estimates that 3.5 million die every year from water-related diseases. Because the areas most in need of improved drinking…

Read more at: https://oilprice.com/Alternative-Energy/Solar-Energy/Chinese-Scientists-Present-Solar-Powered-Water-Harvesting-Technology.html

How Greenwashing Could Undermine Hydrogen’s Future

While there are big plans to expand the clean hydrogen sector, most hydrogen continues to be derived from fossil fuels, with major plans for the expansion of the grey and blue hydrogen industries, which could result in greenwashing to the detriment of the renewable hydrogen industry. As the U.K. and other global powers plan to develop their natural gas-derived hydrogen industries, the rollout of green hydrogen technologies is under threat of being overlooked while governments push for cheaper forms of hydrogen under the guise of being low carbon. …

Read more at: https://oilprice.com/Energy/Energy-General/How-Greenwashing-Could-Undermine-Hydrogens-Future.html

Russia Claims The EU Won’t Succeed In Halting Russian Gas Imports

The European Union will not succeed in its efforts to halt Russian natural gas imports by giving EU member states the power to stop these supplies, Maria Zakharova, spokeswoman for the Russian foreign ministry, said on Tuesday. A move from the EU to authorize member states to block imports of Russian natural gas would only result in a faster redirection of Russia’s gas to emerging markets, Reuters quoted Zakharova as saying at a news briefing on Tuesday.   The European Union has drafted a legislative proposal to authorize…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Claims-The-EU-Wont-Succeed-In-Halting-Russian-Gas-Imports.html

OPEC May May Need 5-Year Plan To Prevent Oil Price Collapse

Soaring supply from the United States and other non-OPEC+ oil producers could force the OPEC+ group to continue carefully managing its supply to the market for the next five years to prevent a collapse in oil prices, analysts at Rapidan Energy Group say.   “For the next several years, at least, continually unified, vigilant, and effective OPEC+ supply management will be required to prevent a collapse in oil prices,” Rapidan said in a report carried by Bloomberg. Oil supply from the U.S., Brazil, and Guyana is rising much faster…

Read more at: https://oilprice.com/Energy/Crude-Oil/OPEC-May-May-Need-5-Year-Plan-To-Prevent-Oil-Price-Collapse.html

Saudi Aramco Enters Pakistan in Downstream Expansion Drive

Saudi Aramco is entering Pakistan’s downstream market by acquiring a 40% stake in Gas & Oil Pakistan Ltd, one of the country’s largest retail and storage companies, as the oil giant seeks international downstream expansion and Saudi Arabia looks to invest more in its ally Pakistan. Saudi Aramco said on Tuesday it had signed definitive agreements to acquire a 40% equity stake in Gas & Oil Pakistan Ltd (GO), a diversified downstream fuels, lubricants, and convenience stores operator.   The transaction is subject…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Saudi-Aramco-Enters-Pakistan-in-Downstream-Expansion-Drive.html

Interest Rate Concerns Keep Oil Prices Under Pressure

Oil prices are once again under pressure as inflation data suggests the Fed will keep interest rates higher for longer. Meanwhile, COP28 looks set to end in disappointment as nations struggle to agree on any sort of fossil fuel phase-out.- The US House of Representatives is slated to consider legislation banning imports of Russian-origin enriched uranium, currently accounting for almost 25% of the US market.- Russia is the largest uranium enricher globally, owning 46% of the world’s total uranium conversion infrastructure, whilst three-quarters…

Read more at: https://oilprice.com/Energy/Energy-General/Interest-Rate-Concerns-Keep-Oil-Prices-Under-Pressure.html

India’s Imports of Russian Oil Averaged $84.20 per Barrel in October

India’s purchases of Russian crude oil averaged $84.20 per barrel in October—the highest price the world’s third-largest crude importer has paid since the $60 price cap came into force at the end of last year, according to preliminary data from the Indian government cited by Reuters. The price India paid for Russian oil in September was $81.24 a barrel, per Reuters estimates based on official Indian trade figures. India has become a top buyer of Russian crude oil alongside China since the Russian invasion of Ukraine and the embargoes…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Indias-Imports-of-Russian-Oil-Averaged-8420-per-Barrel-in-October.html

AAA Expects Record Number Of Americans At Airports

The latest report from the American Automobile Association forecasts a record number of Americans will be flying during the upcoming 10-day holiday stretch spanning from December 23 to December 28. “Airports are expected to be the busiest they’ve ever been over the Christmas and New Year’s travel period,” AAA wrote in the report.  AAA expects 7.5 million air travelers this holiday season, exceeding the 2019 level of 7.3 million. This figure is set to surpass AAA’s record for the period, with data going back to 2000.  According to…

Read more at: https://oilprice.com/Energy/Energy-General/AAA-Expects-Record-Number-Of-Americans-At-Airports.html

Russia’s Crude Oil Shipments Jump After Storms Subside

Russia’s crude oil shipments jumped in the four weeks to December 10, after storms in the Black Sea that had disrupted loadings in November subsided, tanker-tracking data monitored by Bloomberg showed on Tuesday. Russia’s crude oil shipments from all its ports averaged 3.2 million barrels per day (bpd) in the four weeks to December 10, up by around 114,000 bpd compared to the four-week average to December 3, according to the data reported by Bloomberg’s Julian Lee. Weekly shipments, which are much more volatile and not representative…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russias-Crude-Oil-Shipments-Jump-After-Storms-Subside.html

COP28 Headed for ‘Complete Failure’ as Fossil Fuel Debate Rages

The COP28 climate summit extended overtime on Tuesday as nations continue to disagree on wording about the use and production of fossil fuels, with former Western officials suggesting that the Dubai conference is on “the verge of complete failure”. Former U.S. Vice President Al Gore said that “COP28 is now on the verge of complete failure.” “The world desperately needs to phase out fossil fuels as quickly as possible, but this obsequious draft reads as if OPEC dictated it word for word,” Gore added in an X post.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/COP28-Headed-for-Complete-Failure-as-Fossil-Fuel-Debate-Rages.html

M&A Boom Sees Permian Oil Deals Surpass $100 Billion in 2023

The Permian basin saw a surge in mergers and acquisitions this year, with the total value already exceeding a record $100 billion, led by the mega deals announced by ExxonMobil and Chevron, energy consultancy Wood Mackenzie said on Tuesday.   The Permian, the top oil-producing basin in the United States, saw a return of M&A activity this year as large operators look to add more acreage and expand their reserves and production. The latter part of 2023 saw major deals announced, including $50-billion-plus deals for each of Exxon and…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/MA-Boom-Sees-Permian-Oil-Deals-Surpass-100-Billion-in-2023.html

Houthis Attack Another Vessel in the Red Sea

A ship in the Red Sea has been hit by a missile fired from Houthi-controlled Yemen, a day after the Houthis said they would target every vessel bound for Israel. The information came from two unnamed U.S. officials who spoke to the War Zone. Per the report, the target is a commercial vessel by the name of M/T Strinda and it was attacked some 60 miles from the Bab el Mandeb chokepoint. The news comes a day after the Houthis said they would consider every ship bound for Israel a legitimate target. Separately, the UK’s Office of Maritime Trade…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Houthis-Attack-Another-Vessel-in-the-Red-Sea.html

Epic CEO Tim Sweeney on why the company did better against Google than Apple in court

Epic Games and its CEO, Tim Sweeney, have been fighting against mobile app stores and their fees since at least 2020. On Monday, they got a win against Google.

Read more at: https://www.cnbc.com/2023/12/12/tim-sweeney-why-epic-did-better-against-google-than-apple-in-court.html

Here’s the inflation breakdown for November 2023 — in one chart

Lower gasoline prices helped the consumer price index edge downward, to 3.1% in November.

Read more at: https://www.cnbc.com/2023/12/12/heres-the-inflation-breakdown-for-november-2023-in-one-chart.html

OpenAI’s nonprofit arm showed revenue of $45,000 last year, even though company is worth billions

OpenAI’s nonprofit status has come under fire from critics who question how an $86 billion company can be controlled by a charity.

Read more at: https://www.cnbc.com/2023/12/12/openai-nonprofit-arm-45000-in-2022-revenue-company-worth-billions.html

Fed to start cutting rates midyear in 2024 with high chance of soft landing, CNBC Fed survey finds

Lower inflation, falling rates and a soft landing are in the cards, according to the respondents to the CNBC Fed survey.

Read more at: https://www.cnbc.com/2023/12/12/fed-to-start-cutting-rates-midyear-in-2024-with-high-chance-of-soft-landing-cnbc-fed-survey-finds.html

Comeback kids: These stocks are primed for a turnaround in 2024

These five stocks are on pace to end the year with losses, but they could flip the script in 2024.

Read more at: https://www.cnbc.com/2023/12/12/comeback-kids-these-stocks-are-primed-for-a-turnaround-in-2024.html

U.S. crude oil falls nearly 4% as traders worry about inflation impacting demand

While U.S. stocks rose on the latest inflation data, the oil markets saw cause for concern.

Read more at: https://www.cnbc.com/2023/12/12/us-crude-oil-falls-4percent-as-traders-worry-about-inflation-impacting-demand.html

Inflation slowed to a 3.1% annual rate in November

The consumer price index was expected to be flat in November and up 3.1% from a year ago, according to Dow Jones consensus estimates.

Read more at: https://www.cnbc.com/2023/12/12/cpi-inflation-report-november-2023.html

KuCoin agrees to leave New York and pay $22 million to settle state lawsuit: 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, Muneeb Ali of Trust Machines discusses development milestones for Bitcoin in 2023 and what to expect for the network in 2024.

Read more at: https://www.cnbc.com/video/2023/12/12/kucoin-leave-new-york-pay-22-million-settle-lawsuit-crypto-world.html

Apple introduces new iPhone security mode to protect against stolen passcodes

Stolen Device Protection creates a second layer of security against your iPhone’s passcode being stolen.

Read more at: https://www.cnbc.com/2023/12/12/apple-introduces-stolen-device-protection-mode-to-prevent-iphone-theft.html

Blue Origin aims to launch first New Shepard rocket in over a year

Jeff Bezos’ Blue Origin is preparing to launch its New Shepard rocket as early as Monday.

Read more at: https://www.cnbc.com/2023/12/12/blue-origin-aims-to-launch-new-shepard-rocket-december-18.html

After years of resisting, Netflix releases viewing statistics for nearly all titles

Netflix revealed viewership statistics for more than 18,000 shows and movies for the first time ever.

Read more at: https://www.cnbc.com/2023/12/12/netflix-releases-viewing-stats-for-nearly-all-titles-for-first-time.html

The No. 1 most affordable place to retire in 2024—it’s not in Florida

The most affordable place to retire in the U.S. may not have many palm trees, but boasts low housing costs and other benefits retirees may enjoy.

Read more at: https://www.cnbc.com/2023/12/12/most-affordable-places-to-retire-in-2024.html

Trump sells snippets of mugshot suit, Mar-a-Lago dinner in latest NFT promotion

Buy 47 of the $99-apiece digital cards to get a physical card containing a piece of the suit Trump wore when he posed for the mugshot.

Read more at: https://www.cnbc.com/2023/12/12/trump-sells-mugshot-suit-mar-a-lago-dinner-in-latest-nft-promotion.html

Citadel Returning $7 Billion In Profits To Investors After 15% Return In 2023

2023 was another year of underperformance for most hedge funds (who have barely been able to eek out mid-single digit gains according to Goldman)…

… but not for the “pod” master of them all, Citadel, which according to the WSJ, is planning to give its investors $7 billion in profits it earned in its flagship multi-strat Wellington fund, which returned an impressive 15% in the year through November, a year in which brutal momentum whiplash and soaring rates challenged most hedge-fund managers.

By comparison, the average hedge fund gained 4.35% through November according to HFR. However, once again everyone – Citadel included – is underperforming the S&P 500, which rose 20.8% including dividends through November, for the 6th year running.

Citadel – and other large hedge-fund firms – regularly hand back profits to clients to pr …

Read more at: https://www.zerohedge.com/markets/citadel-returning-7-billion-profits-investors-after-15-return-2023

Politicians & Regulators Keep Shouting That Crypto Is Synonymous With Fraud. Here’s Why They’re Wrong

Authored by Omid Malekan and Brian Whitehurst via Fortune.com,

“Rife with fraud, manipulation, and money laundering.”

That’s a fair summary of how regulators, legislators, and other critics regularly describe crypto.

Such claims are made so often that industry insiders seldom challenge them, and their reluctance to push back is understandable given high-profile scandals like FTX and TerraLuna.

That, however, does not make the claims correct.

Crypto is a complex global ecosystem. It has operated in a legal and regulatory gray zone, but not for any nefarious reason. Its unique approach to ownership and settlement poses a challenge to rules written for a different kind of financial system. A more objective look shows that most of the activity labeled as crypto fraud is just regular fraud that happens to …

Read more at: https://www.zerohedge.com/crypto/politicians-regulators-keep-shouting-crypto-synonymous-fraud-heres-why-theys-wrong

Ron Paul: Biden & The Media Are Gaslighting People About Inflation

Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity,

President Biden recently repeated the claim that high prices are caused by greedy businesses.

Biden is not alone in trying to gaslight the people into thinking price inflation is rooted in the actions of private individuals and not the fiat money system Americans have lived under since 1971. In the media we see excessive consumer spending on luxury items, for example, being blamed for continued price inflation. The fact is that increased consumer demand can only cause prices to rise in those sectors of the economy subject to the increased demand. Prices increasing across the economy are always the result of the Federal Reserve’s conduct of monetary policy.

Trying to minimize the harm of inflation, some people in government and media will insist that, while many prices for goods are higher than they were pre-lockdown, they a …

Read more at: https://www.zerohedge.com/personal-finance/ron-paul-biden-media-are-gaslighting-people-about-inflation

Destruction In Gaza May Be Worse Than Germany in WWII, EU’s Borrell Claims

European Union foreign policy chief Josep Borrell issued a surprising comparison, saying that the immense destruction in Gaza might be “even greater” than the damage to German cities during World War II.

Calling the ongoing Israeli aerial bombardment which has left much of the Strip in rubble “catastrophic, apocalyptic”, he described that it could be “more or less or even greater than the destruction suffered by the German cities during the Second World War,” according to AFP.

EU file image: Josep BorrellHe further acknowledged that Israel’s ground and air operations have resulted in “an incredible number of civilian casualties” – at a moment Gaza’s health ministry in recent days said the death toll has surpassed 17,700. Common estimates claims that at least two-thirds of these …

Read more at: https://www.zerohedge.com/geopolitical/eus-borrell-claims-destruction-gaza-may-be-worse-germany-wwii

Thames Water says it can’t pay back £190m loan

Thames Water boss tells MPs it doesn’t have enough money to pay back a loan due in April next year.

Read more at: https://www.bbc.co.uk/news/business-67696645?at_medium=RSS&at_campaign=KARANGA

Zara says it regrets Gaza images misunderstanding

The fashion company says it has now pulled all pictures from an advertising campaign about a jacket.

Read more at: https://www.bbc.co.uk/news/business-67690447?at_medium=RSS&at_campaign=KARANGA

UK pay growth slows as jobs market stalls

Wage increases are easing but continue to outpace inflation, making an imminent interest rate cut unlikely.

Read more at: https://www.bbc.co.uk/news/business-67680267?at_medium=RSS&at_campaign=KARANGA

Growth versus value stocks: Where to take fresh positions

“In infrastructure, I would look at companies that are able to manage their cash flows better and even a company like Mazagon Dock has amazing cash flow management for what is otherwise a government company. They have net cash on their balance sheet because they get paid in advance. Some of those aspects matter more.”

Read more at: https://economictimes.indiatimes.com/markets/expert-view/want-to-buy-afresh-or-add-fresh-positions-look-for-growth-not-value-deepak-shenoy/articleshow/105920435.cms

Tech View: Nifty forms a bearish engulfing pattern on daily charts. What traders should do on Wednesday

The near-term uptrend of Nifty is still intact and the market seems to have shifted into minor profit booking mode as per a smaller time frame chart. A move below 20,850 could slide Nifty towards another support of 20,700 levels (10-day EMA), said Nagaraj Shetti of HDFC Securities.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-a-bearish-engulfing-pattern-on-daily-charts-what-traders-should-do-on-wednesday/articleshow/105935941.cms

Nifty Bank ends over 200 points lower ahead of weekly expiry. Key levels to track

Nifty Bank on Tuesday ended 217 points lower but closed above 47,000 level ahead of the US CPI data on Tuesday and Fed meeting outcome on Wednesday as profit booking, which began in the previous trading session, continued

Read more at: https://economictimes.indiatimes.com/markets/options/nifty-bank-ends-over-200-points-lower-ahead-of-weekly-expiry-key-levels-to-track/articleshow/105938432.cms

Futures Movers: Oil futures drop nearly 4% to settle at their lowest since June

Oil futures lose almost 4% on Tuesday to settle at their lowest price in nearly six months.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-72AD-3B4A1CF9AF9E%7D&siteid=rss&rss=1

Peter Morici: America needs a better president than either Biden or Trump to be a true superpower

U.S. resolve and strength is absent in a world that needs it.

Read more at: http://www.marketwatch.com/news/story.asp?guid=%7B20C06575-04D4-B545-72AD-8C0750A611D5%7D&siteid=rss&rss=1