Western Wind Turbine Manufacturers Struggle to Compete with Chinese Pricing

China is quietly dominating another major global sector, wind power. The country accounted for two-thirds of the entire global build in 2023 and now boasts a 77GW portfolio, more than ten times that of the US, the next largest market. Data from Bloomberg’s specialist research unit NEF out today shows that Europe added a record 15.3GW last year, 16 per cent more than the amount installed in 2022, but still only 40 per cent of the required annual volume to meet the 2030 500 GW target. China is strengthening its wind project stock both off its…

Read more at: https://oilprice.com/Energy/Energy-General/Western-Wind-Turbine-Manufacturers-Struggle-to-Compete-with-Chinese-Pricing.html

Argentina-Venezuela Tensions Escalate After Diplomatic Spat

Tensions between Argentina and Venezuela have worsened after a diplomatic spat between the two South American nations.  Argentina has accused Venezuela of cutting the power supply to its embassy in Caracas after its diplomats invited Venezuela’s opposition leaders due to concerns about “the deterioration of the institutional situation and the acts of harassment and persecution directed against political figures in Venezuela.” In a statement released on Monday by the Office of Argentine President Javier Milei,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Argentina-Venezuela-Tensions-Escalate-After-Diplomatic-Spat.html

Cool Paint Coatings Can Help Mitigate the Urban Heat Island Effect

A Nanyang Technological University real-world study has shown that the use of cool paint coatings in cities can help pedestrians feel up to 1.5º Celsius (2.7º F) cooler, making the urban area more comfortable for work and play. The research paper exploring the development has been published in Sustainable Cities and Society. Cool paint coatings contain additives that reflect the sun’s heat to reduce surface heat absorption and emission. They have been touted as one way to cool down the urban area and mitigate the Urban Heat Island…

Read more at: https://oilprice.com/Energy/Energy-General/Cool-Paint-Coatings-Can-Help-Mitigate-the-Urban-Heat-Island-Effect.html

Investigators To Examine Whether Dirty Fuel Caused Baltimore Bridge Crash

A safety probe into a Baltimore bridge collapse will determine whether contaminated fuel played a part in the accident whereby a giant ship lost power and crashed into the bridge forcing it to collapse.  Early investigations suggest that the Singapore-flagged Dali cargo ship was setting off from the Port of Baltimore to Colombo, Sri Lanka, when it apparently lost power and crashed into a support pillar of the Francis Scott Key Bridge.  The lights on the Dali, a 948-foot-long container ship capable of carrying 95,000…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Investigators-To-Examine-Whether-Dirty-Fuel-Caused-Baltimore-Bridge-Crash.html

Nickel Prices Expected to Drop Further in 2024

Via Metal Miner   Will there be a rebound in Chinese nickel purchases in 2024? Furthermore, will it serve to bolster the market in the near term? Following a lengthy period of de-stocking last year, these are just some of the questions with implications for the global nickel price. As the world moves toward cleaner energy sources, certain minerals and metals are now deemed “critical” to the transition. As a key ingredient in electric vehicle (EV) batteries, nickel is one of several elements under the spotlight. On average, most…

Read more at: https://oilprice.com/Metals/Commodities/Nickel-Prices-Expected-to-Drop-Further-in-2024.html

Netherlands’ $900 Billion Pension Funds Ready to Invest Big in Renewables

The Netherlands’ five largest pension funds have said they are willing to invest billions in the country’s renewable energy sector and the electricity grid. The funds, with a combined 900 billion euros ($975 billion) in assets, have offered to help with finances and expertise in the nation’s electric grid expansion and sustainable heating projects. “We want to make a bigger impact, we can and want to invest more in the Dutch energy transition,” the funds said in a letter addressed to the country’s political parties looking…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Netherlands-900-Billion-Pension-Funds-Ready-to-Invest-Big-in-Renewables.html

Nissan Unveils New Strategy to Combat Influx of Competitive Chinese EVs

Nissan is the latest manufacturer to aim to cut EV costs in order to keep up with an increasingly competitive and saturated landscape. The company is now seeking to compete with Chinese rivals by slashing costs by 30%, Financial Times reported this weekend.   Nissan, in collaboration with Renault and recently Honda, faces challenges in China’s auto market, the report notes. After delays, Nissan’s new business plan seeks to boost sales by 1 million units by fiscal 2026, introducing 30 new models, half of which will be EVs or hybrids. This…

Read more at: https://oilprice.com/Energy/Energy-General/Nissan-Unveils-New-Strategy-to-Combat-Influx-of-Competitive-Chinese-EVs.html

PetroChina Aims to Power All Its Output With Clean Energy by 2033

Chinese state oil and gas giant PetroChina plans to power all its drilling and refining activities with clean power by 2033 and to install massive renewable energy capacity this year.     The Chinese firm is pledging to boost renewables operations just when international oil majors have started to walk back on some of their clean energy ambitions. Shell, for example, reaffirmed earlier this month its ambitions to be a net-zero energy business by 2050 but eased its carbon intensity target for 2030 as it has shifted away…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/PetroChina-Aims-to-Power-All-Its-Output-With-Clean-Energy-by-2033.html

Has Europe Done Enough to Avoid an Energy Crisis Next Year?

Europe is set to exit the winter heating season with another record-high level of natural gas inventories, which could spare the EU price spikes and another energy crisis next winter, according to analysts. As of March 25, a week before the end of the major gas withdrawal season on March 31, EU gas storage sites were 59% full, per data from Gas Infrastructure Europe.   Although the volume of 100% full storage sites accounts for only about a quarter of EU consumption during the winter, the high stock levels at the start of the refill…

Read more at: https://oilprice.com/Energy/Energy-General/Has-Europe-Done-Enough-to-Avoid-an-Energy-Crisis-Next-Year.html

Russia Boosts Shelf Exploration for Oil and Gas Resources

Russia is boosting exploration for oil, gas, and minerals on its continental shelf as it has launched the first comprehensive geological and drilling studies in 30 years, according to its Federal Agency for Mineral Resources. The agency, also known as Rosnedra, operates 190 sites nationwide between Kaliningrad and Russia’s Far East, with projects ranging from deep drilling for oil and gas to geophysical exploration of solid minerals by drones, the head of the agency Yevgeny Petrov told Russian Prime Minister Mikhail Mishustin in a meeting.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Boosts-Shelf-Exploration-for-Oil-and-Gas-Resources.html

Oil Moves Down on Inventory Rise

Crude oil prices were in the red today after the Energy Information Administration reported an inventory build of 3.2 million barrels for the week to March 22. This compared with a draw of 2 million barrels for the previous week, when the EIA also estimated a sizeable draw in gasoline inventories, which helped support prices. This week, the API inventory report that came out on Tuesday pushed prices lower as it estimated an inventory build in crude oil of over 9.3 million barrels for the week to March 22. For the week to…

Read more at: https://oilprice.com/Energy/Crude-Oil/Oil-Moves-Down-on-Inventory-Rise.html

Baltimore Coal Exports Blocked After Bridge Collapse

Baltimore Port’s coal exports are likely to be blocked for weeks after the collapse of the Francis Scott Key Bridge on Tuesday, according to a Pennsylvania coal trading firm.   The bridge collapsed early on Tuesday after a cargo ship lost power and slammed into the construction, which crumbled within seconds and will disrupt navigation near the Baltimore port, which is one of the biggest coal export terminals in America.   Baltimore is the nation’s second-largest coal exporting port after Norfolk, Virginia,…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Baltimore-Coal-Exports-Blocked-After-Bridge-Collapse.html

Pump Prices Set to Hit $4 a Gallon

US oil prices have recently jumped above the $80 a barrel mark – the highest level since late 2023, sending worrying signals to the Federal Reserve and overly anxious White House.  The surge in WTI has pushed wholesales gasoline prices up… And worse, pump prices are set to accelerate even higher in the coming months to an average of $4 a gallon, which would be the highest level since the summer of 2022, according to Bloomberg, citing new data from AAA Automobile Club.  A combination of issues is pressuring futures and pump prices higher,…

Read more at: https://oilprice.com/Energy/Crude-Oil/Pump-Prices-Set-to-Hit-4-a-Gallon.html

Western Sanctions Delay Payments for Russia’s Oil Exports

Russia is seeing months of delays in payments for its oil exports as banks in its major trader partners, including China, the UAE, and Turkey, are now scrutinizing transactions wary of the tighter U.S. sanctions, numerous unnamed sources with knowledge of the matter have told Reuters. Russian oil firms are struggling to collect the payments for their exports on time, which in turn delays payments to the Russian budget for use in the war in Ukraine. Even as China, Turkey, and the United Arab Emirates have continued to buy Russian crude and…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Western-Sanctions-Delay-Payments-for-Russias-Oil-Exports.html

Ithaca Energy in Exclusive Talks to Buy Eni’s UK Upstream Assets

North Sea oil and gas producer Ithaca Energy has entered into an exclusivity agreement to discuss buying all of the UK upstream business of Italy’s energy major Eni. A deal, if it takes place, will be for substantially all of Eni’s oil and gas assets in the UK, including the Neptune Energy assets which the Italian major has recently acquired. But a transaction will not include certain carbon capture projects and Irish Sea assets held by Eni, Ithaca Energy said on Wednesday. Pursuant to the exclusivity agreement, Eni has…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Ithaca-Energy-in-Exclusive-Talks-to-Buy-Enis-UK-Upstream-Assets.html

Dow surges more than 450 points, S&P 500 closes at a fresh record: Live updates

Stocks rose Wednesday following a losing session on Wall Street that pulled the indexes further from record levels.

Read more at: https://www.cnbc.com/2024/03/26/stock-market-today-live-updates.html

Baltimore port bridge collapse: Global ocean carriers declare ‘force majeure,’ leaving U.S. companies on hook for urgent cargo pickup

Ocean container vessel giants including CMA CGM and COSCO are declaring force majeure due to Baltimore port bridge accident, leaving shippers on hook for cargo.

Read more at: https://www.cnbc.com/2024/03/27/in-baltimore-bridge-crisis-shippers-left-on-hook-for-cargo-pickup.html

Amazon spends $2.75 billion on AI startup Anthropic in its largest venture investment yet

Amazon is spending billions more to back an artificial intelligence startup as it looks for an edge in this new technology arms race.

Read more at: https://www.cnbc.com/2024/03/27/amazon-spends-2point7b-on-startup-anthropic-in-largest-venture-investment.html

Disney agrees to settle Florida lawsuit with special district backed by DeSantis

The suit was related to the takeover of the district at the behest of Florida Gov. Ron DeSantis after Disney had opposed the state’s “Don’t Say Gay” law.

Read more at: https://www.cnbc.com/2024/03/27/disney-and-florida-settle-lawsuits-over-desantis-special-district-fight-dont-say-gay-bill.html

BMO says there’s a buying opportunity in small caps, gives a list of the best ones to buy

Small- and mid-cap stocks now have an “extremely attractive” valuation after struggling to keep up with fiery gains from large-cap names, according to BMO.

Read more at: https://www.cnbc.com/2024/03/27/bmo-says-theres-a-buying-opportunity-in-small-caps-gives-a-list-of-the-best-ones-to-buy.html

Trump targets hush money trial judge’s daughter one day after gag order

Donald Trump’s Truth Social posts came one day after New York Judge Juan Merchan imposed a gag order limiting what Trump can say about the case.

Read more at: https://www.cnbc.com/2024/03/27/trump-targets-hush-money-judges-daughter-one-day-after-gag-order-.html

Yellen warns China’s surplus of solar panels, EVs could be dumped on global markets

Janet Yellen said she will confront her Chinese counterparts about their solar, EV trade practices in an upcoming visit to China.

Read more at: https://www.cnbc.com/2024/03/27/yellen-china-solar-ev-surplus-global-markets.html

Novo Nordisk’s $1,000 diabetes drug Ozempic can be made for less than $5 a month, study suggests

Researchers found Novo Nordisk’s Ozempic could be manufactured for an estimated 89 cents to $4.73 for a month’s supply, figures that include a profit margin.

Read more at: https://www.cnbc.com/2024/03/27/novo-nordisk-ozempic-can-be-made-for-less-than-5-a-month-study.html

Ron Insana’s new firm aims to bring AI-powered trade ideas to individual investors

The firm, called iFi AI, launches Wednesday and will use AI models to help generate projected returns for stocks over various time periods.

Read more at: https://www.cnbc.com/2024/03/27/ron-insanas-new-firm-aims-to-bring-ai-powered-trade-ideas-to-individual-investors.html

Hyundai considering hybrid vehicle production at $7.6 billion Georgia EV plant

The reassessment comes amid slower-than-excepted adoption of EVs, as well as the Biden administration revising emissions rules.

Read more at: https://www.cnbc.com/2024/03/27/hyundai-may-add-hybrid-production-to-7point6-billion-georgia-plant-.html

The income a family of 4 needs to live comfortably in 20 major U.S. cities

To live comfortably in the largest U.S. cities, a family of four needs to make around $300,000.

Read more at: https://www.cnbc.com/2024/03/27/how-much-money-family-of-4-needs-to-live-comfortably-in-us-cities.html

Here are investor Jenny Harrington’s top income plays — and they all yield around 6% or higher

Investor Jenny Harrington focuses on dividend income to generate a strong and sustainable income stream for clients. Here are some of her top stocks.

Read more at: https://www.cnbc.com/2024/03/27/investor-jenny-harringtons-top-income-plays.html

Baltimore Port Closure Puts Truck Drivers Who Haul Autos In A Bind

By John Kingston of FreightWaves

With the closure of the Port of Baltimore for the foreseeable future, the question of which truck drivers are most affected inevitably focuses first on drayage.

But Baltimore is not a major intermodal port, with estimates that its share of U.S. intermodal traffic is in the low single digits.

What the Port of Baltimore is, however, is a huge gateway for automobile imports and, to a lesser extent, car exports. And that fact is likely to shake up the niche truck segment of auto haulers.

Source: Bloomberg

Guy Young is the general manager of the Auto Haulers Association of America. Reached by phone Monday, the day of the Francis Scott Key Bridge collapse, he assessed his members’ industry as it suddenly deals with the loss of its biggest import point.

“What car …

Read more at: https://www.zerohedge.com/markets/baltimore-port-closure-puts-truck-drivers-who-haul-autos-bind

“Queer Princeton Alumni” President Arrested On Child Porn Charges

The President of the “Queer Princeton Alumni” and the Princeton and Harvard Glee Clubs, who also sits on the board of the New York Philharmonic, was charged and arrested over possession of child pornography, according to the Mercer County, NJ Prosecutor’s Office.

Roy “Trey” Farmer, 53, a 1993 Princeton grad, was arrested on Friday at a condo he owns in Princeton, across from the university’s main entrance. He faces one count of possession of child sexual abuse material, a third-degree felony.

BREAKING: Prominent LGBTQ activist Trey Farmer arrested on child p*rn charges.

Trey is an alumni of Princeton and is President of the “Queer Princeton Alumni” organization. pic.twitter.com/t7GcyZ2e6Z

— Libs of TikTok (@libsoftiktok)

Read more at: https://www.zerohedge.com/political/queer-princeton-alumni-president-arrested-child-porn-charges

Trump Selling $60 Bibles To ‘Make America Pray Again’

Authored by Aldgra Fredly via The Epoch Times,

Former President Donald Trump announced on March 26 his collaboration with country singer Lee Greenwood to promote the “God Bless The USA Bible,” encouraging people to buy it and “make America pray again.”

“All Americans need a Bible in their home, and I have many. It’s my favorite book,” the Republican presidential candidate said in a video posted to his Truth Social account on March 26.

“I think you all should get a copy of God Bless the U.S.A. Bible now and help spread our Christian values with others. There you have it. Let’s make America pray again,” he added.

“God Bless The USA Bible” features the King James Version translation, costing $59.99. It includes the handwritten chorus of Mr. Greenwood’s famous “God Bless The USA” song, the U.S. Constitution, the Declaration of Independence, the Bill of Rights, and the Pledge of Allegiance.

Read more at: https://www.zerohedge.com/political/trump-selling-60-bibles-make-america-pray-again

New York Starts Handing Out Prepaid Debit Cards To Illegal Immigrants

Authored by Tom Ozimek via The Epoch Times,

New York City officials on Monday started handing out pre-paid debit cards to illegal immigrants as part of a $53 million pilot program that has drawn criticism over whether the prospect of “free money” is incentivizing more unlawful border crossings.

The first batch of the cards were given out on March 25 to a handful of families and that will expand to roughly 460 people by next week, New York City Mayor Eric Adams’ office confirmed to Fox News.

The Epoch Times previously reported on the pre-paid card program, under which New York City awarded a $53 million contract to a company called Mobility Capital Finance to create and distribute the pre-paid cards, called immediate response cards.

Under the program, the cards would first be delivered to the Roosevelt Hotel, the first touchpoint for illegal immigrants arriving in the city, with records indicating that the first to receive the cards will be families with children under the care of NYC’s Housing Preservation and Development agency.

City Hall said that the …

Read more at: https://www.zerohedge.com/political/new-york-starts-handing-out-prepaid-debit-cards-illegal-immigrants

Holidaymakers caught out by 10-year-passport rule

UK passports can have up to 10 years and nine months on them but EU countries won’t accept them.

Read more at: https://www.bbc.co.uk/news/business-68658209

Bankers jailed for interest rate rigging lose appeal

Tom Hayes and Carlo Palombo, convicted for manipulating a key interest rate, have had their appeals dismissed.

Read more at: https://www.bbc.co.uk/news/business-68595204

Budget fashion brands pledge clearer green claims

Asos, Boohoo and George at Asda will make changes after intervention from the competition authority.

Read more at: https://www.bbc.co.uk/news/business-68672700

Nifty crosses 20-DEMA hurdle. What traders should do on Thursday

Nifty on Wednesday formed a green candle on the daily chart. Analysis of the Open Interest (OI) data revealed the highest OI on the call side at the 22,400 strike price, followed by the 22,500 strike price. On the put side, the highest OI was observed at the 22,000 strike price.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-crosses-20-dema-hurdle-what-traders-should-do-on-thursday/articleshow/108823237.cms

Kotak Equities downgrades multibagger HDFC AMC, upgrades Aditya Birla Sun Life to Add

The company’s outperformance over its peers is fully priced in at the current valuations, Kotak said in a note as it slashed the stock’s fair value to Rs 3,750, a 1.5% climbdown from Tuesday’s closing price of Rs 3,811.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/kotak-equities-downgrades-multibagger-hdfc-amc-upgrades-aditya-birla-sun-life-to-add/articleshow/108817621.cms

Maruti Suzuki breaches Rs 4 lakh crore m-cap mark as stock races to fresh 52-week high

Maruti Suzuki India’s shares rose 4% to hit a new 52-week high, joining the club of stocks with a market capitalization of Rs 4 lakh crore, such as Reliance Industries and Larsen & Toubro.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/maruti-suzuki-breaches-rs-4-lakh-crore-m-cap-mark-as-stock-races-to-fresh-52-week-high/articleshow/108815693.cms

‘I was devastated by her infidelity’: I’m still on the deed of my ex-wife’s house, but our divorce decree says she gets the property. Am I sitting on a golden goose?

“I harbor no ill-will towards her and I’m not looking to extort her, I just think we’re long overdue for a clean break.”

Read more at: https://www.marketwatch.com/story/i-was-devastated-by-her-infidelity-im-still-on-the-deed-of-my-ex-wifes-house-but-our-divorce-decree-says-she-gets-the-property-am-i-sitting-on-a-golden-goose-472e1750?mod=mw_rss_topstories

AMC’s stock on pace for biggest gain in a month

The movie-theater chain’s shares are on pace for their largest daily percentage gain since Feb. 27.

Read more at: https://www.marketwatch.com/story/amcs-stock-on-pace-for-biggest-gain-in-a-month-b7402d42?mod=mw_rss_topstories

Individual investors are buying fewer stocks, but using more leverage

Individual investors are flocking to leveraged ETFs, leaving them more susceptible to pullbacks, analysts warn.

Read more at: https://www.marketwatch.com/story/individual-investors-are-buying-fewer-stocks-but-using-more-leverage-c70ce99e?mod=mw_rss_topstories