New-World Climate Regulation Clashes with Old-World Capitalism

“Facts that don’t align with ill-informed prejudice are often infuriating. That doesn’t make them wrong. Someone needs to tell the truth about what it’s going to take to get to a net-zero future,” Emily Mir, a spokeswoman for Exxon, said earlier this month. And that’s exactly what Judson Berkey at UBS has done, the focus of a new Bloomberg report. Berkey let loose on a recent conference call with regulators about how unrealistic climate goals were for banks trying to integrate them into their respective economies.…

Read more at: https://oilprice.com/Finance/the-Economy/New-World-Climate-Regulation-Clashes-with-Old-World-Capitalism.html

Permian Oil Producers Eye Next-Gen Nuclear to Cleaner Drilling

American shale companies are eyeing the benefits of small nuclear reactors to power their Permian Basin drilling campaigns in order to reduce carbon emissions in a reliable and sustainable manner, Bloomberg reported on Monday.  Among those eyeing small nuclear reactors is the largest independent producer in the region, Diamondback Energy Inc, which Bloomberg reports has already signed a letter of intent for a supply of next-generation nuclear reactors.  The letter of intent was with Oklo Inc, whose CEO, Jacob Dewitte, reportedly told…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Permian-Oil-Producers-Eye-Next-Gen-Nuclear-to-Cleaner-Drilling.html

Green Transition Threatens Australia’s Iron Ore Dominance

Via Metal Miner Australia’s iron ore industry faces a major challenge, and if the country does not take corrective course action soon, it risks losing its position as the largest exporter of iron ore. This would have a significant impact on the nation’s industry, and its ability to affect the iron ore price. The challenge is the “changing color of steel,” as one expert put it. According to Magnetite Mines Ltd Chief Executive Tim Dobson, future demand will favor iron ore producers capable of efficiently and sustainably purifying…

Read more at: https://oilprice.com/Metals/Commodities/Green-Transition-Threatens-Australias-Iron-Ore-Dominance.html

Oil Prices Up as Iranian Embassy in Syria Leveled in Airstrike

As tensions escalate in proxy zones in the Israel-Hamas conflict, six people have been killed in a Monday bomb strike that completely leveled the Iranian consulate in Damascus, Syria, with Tehran accusing Israel of being behind the strike. According to Agence France Press (AFP), the air strike hit an Iranian embassy annex building, killing six people. Syrian and Iranian media are attributing the strike to Israel, with a Lebanese security source telling Reuters that a senior commander of Iran’s Revolutionary Guards Corp (IRGC) was killed in…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Up-as-Iranian-Embassy-in-Syria-Leveled-in-Airstrike.html

Biofortification: A Risky Fix for Depleted Soils

Many health-conscious people already know that the nutrient value of foods has been dropping since the introduction of industrial agriculture. The causes include loss of nutrient-rich topsoil due to erosion brought on by frequent plowing and therefore loosening of the soil. Farmers also often fail to plant cover crops to hold soil in place when the growing season is over. Another cause is the reduction in the biological diversity and density of the soil brought on both by frequent plowing and by the constant barrage of synthetic chemicals, both…

Read more at: https://oilprice.com/The-Environment/Global-Warming/Biofortification-A-Risky-Fix-for-Depleted-Soils.html

Reuters Survey Shows OPEC Output Reduced in March

Lower exports from both Iraq and Nigeria, in combination with continuing voluntary supply cuts have resulted in reduced oil production for OPEC in March, according to a Reuters survey published on Monday. Based on the survey data, OPEC output for March was at 26.42 million barrels per day on average, compared to 50,000 bpd for February.  OPEC+, the expanded cartel including Russia, agreed in early March to prolong voluntary oil output cuts from the first quarter into the second quarter of this year. The initial cuts of 2.2 million barrels…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Reuters-Survey-Shows-OPEC-Output-Reduced-in-March.html

Coal Exports Face Setback After Baltimore Bridge Collapse

The recent collapse of the Francis Scott Key Bridge into the Patapsco River on March 26 has caused a temporary halt to all shipping traffic from the Port of Baltimore. A reader recently asked me how this might impact the energy markets. First, the closure should have minimal impact on the transportation of more commonly used petroleum products. Ship tracking data indicates limited activity, with only one shipment of gasoline and three petroleum-related export cargos recorded at the port in 2023. The port receives a modest quantity of refined petroleum…

Read more at: https://oilprice.com/Energy/Coal/Coal-Exports-Face-Setback-After-Baltimore-Bridge-Collapse.html

Argentina Discusses Natural Gas Exports to Brazil via Bolivia

Argentina and Brazil are discussing the idea to export natural gas from Argentina’s Vaca Muerta shale play to Brazil via pipelines in Bolivia, by potentially reversing the flow northbound to Brazil. Energy companies from the three South American countries have started talks, but progress has been slow and there are a lot of issues to overcome to make such gas flows happen, industry executives and analysts have told Reuters. The idea is to reverse the southbound flow of gas pipelines in Bolivia, which used to carry gas to Argentina. The…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Argentina-Discusses-Natural-Gas-Exports-to-Brazil-via-Bolivia.html

Who Is Behind Iran-Backed Houthi Threats To Attack Saudi Arabia?

The Iranian-backed Houthis will attack Saudi Arabia if it continues to allow U.S. warplanes to use its territory for military strikes against the Yemeni rebel group. Having taken control of the Yemeni capital of Sanaa in 2014, the Houthis are now building up their military presence for a push on the country’s principal oil and gas region of Marib. The group has also been stepping up its attacks on oil ships passing through the key transit routes in and around the Red Sea, including the crucial chokepoint of the Bab-el-Mandeb Strait. This…

Read more at: https://oilprice.com/Energy/Energy-General/Who-Is-Behind-Iran-Backed-Houthi-Threats-To-Attack-Saudi-Arabia.html

Canada’s Federal Government Not Interested in Investing in LNG

The federal government of Canada is not interested in investing in any LNG projects or subsidizing such plans, Energy and Natural Resources Minister Jonathan Wilkinson told CTV in an interview aired on Sunday. The Canadian government doesn’t plan to subsidize the electrification of ongoing LNG projects, the federal minister of energy added. “The government is opposed to using government money to fund inefficient fossil fuel subsidies. We’re the first country in the world to actually do that,” Wilkinson told CTV.  …

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Canadas-Federal-Government-Not-Interested-in-Investing-in-LNG.html

The U.S. Was the World’s Top LNG Exporter in 2023

The United States beat out both Australia and Qatar to become the largest exporter of liquefied natural gas (LNG) in 2023, with an average of 11.9 billion cubic feet per day (Bcf/d) in exports last year, the U.S. Energy Information Administration (EIA) said on Monday. Strong demand in Europe, the return of Freeport to full operations, and high utilization rates helped America raise its LNG exports by 12% annually in 2023 compared to 2022, per data from the EIA’s Natural Gas Monthly. The U.S., with average LNG exports of 11.9 Bcf/d last…

Read more at: https://oilprice.com/Energy/Energy-General/The-US-Was-the-Worlds-Top-LNG-Exporter-in-2023.html

Turkish Leader Erdogan Beaten by Opposition in Local Elections

Turkey’s main opposition party, the secular Republican People’s Party (CHP), dealt a heavy blow to President Recep Tayyip Erdogan in the local elections this weekend, keeping the mayor’s office in Istanbul and Ankara and winning 15 other mayoral offices nationwide.    With 100% reported ballots, CHP won 37.76% of the votes, ahead of Erdogan’s AK Party (AKP), TRT World reports.   Erdogan’s party fared worse than polls had indicated and saw its worst defeat at any election during 20 years of Erdogan’s…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Turkish-Leader-Erdogan-Beaten-by-Opposition-in-Local-Elections.html

Stocks Shoot Higher as Markets Anticipate Potential Rate Cuts

US futures extend their record-breaking meltup following the long weekend (which was to be expected with hedge funds piling into shorts last week, hoping for a reversal), with most European markets still closed and Asian stocks closing lower. As of 7:30am, S&P futures were 0.3% higher, but trading near session lows; Nasdaq futures gained 0.4%. Bond yields are 1-3bp higher with the USD unchanged from its Friday close. Commodities are mixed: oil down and metals are mostly higher this morning as China PMIs beat expectations. While bitcoin suffered…

Read more at: https://oilprice.com/Finance/the-Markets/Stocks-Shoot-Higher-as-Markets-Anticipate-Potential-Rate-Cuts.html

AI Technology Set to Boost U.S. Natural Gas Demand

U.S. natural gas producers believe they have a role to play in providing gas for the soaring power demand from data centers and AI technologies. While most large technology corporations seek solar or wind capacities to power their AI developments and data centers, renewables alone would not be enough to cover the growing demand for electricity, executives have told the Financial Times. Natural gas, which currently meets 43.1% of U.S. utility-scale electricity generation, will continue to meet a large part of American power demand as new…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/AI-Technology-Set-to-Boost-US-Natural-Gas-Demand.html

Russia Set to Slash Seaborne Diesel Exports in April

Russia is expected to see exports of diesel from its key western ports on the Baltic and Black Seas to decline by 21% in April, industry data seen by Bloomberg showed on Monday, as Russia’s refining capacity has been crippled by Ukrainian drone attacks.    In April, loadings from the three major western Russian ports are set to drop to around 569,000 barrels per day (bpd), a 21% decline from March levels and the lowest in five months, per Bloomberg estimates of Kpler data. Seasonal maintenance and a drop in refining capacity…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Russia-Set-to-Slash-Seaborne-Diesel-Exports-in-April.html

Dow closes more than 200 points lower to begin April as Treasury yields pop: Live updates

The 30-stock Dow and the S&P 500 ended Monday’s session lower.

Read more at: https://www.cnbc.com/2024/03/31/stock-market-today-live-updates.html

Trump Media plunges more than 25% after company reports net loss of $58 million in 2023

Trump Media, whose majority shareholder is former President Donald Trump, “expects to incur operating losses for the foreseeable future,” the filing says.

Read more at: https://www.cnbc.com/2024/04/01/trump-media-lost-58-million-last-year-sec-filing-shows.html

How Dana Walden could defy critics and become Disney’s first female CEO

Walden has proven herself as a top TV executive, but some ex-Disney executives question whether her resume is suitable for the Disney CEO job.

Read more at: https://www.cnbc.com/2024/04/01/disney-ceo-race-dana-walden-could-defy-critics-and-make-history.html

Railroad CSX adding new freight route on Tuesday to avoid Port of Baltimore after bridge collapse

Freight railroad CSX is starting a new route between Baltimore and New York with the bridge collapse and port closure expected to create trade issues for weeks.

Read more at: https://www.cnbc.com/2024/04/01/csx-starts-new-freight-rail-route-to-avoid-port-of-baltimore-closure.html

Bitcoin drops below $70,000 to kick off April: 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, Samir Kerbage, CIO and head of products at Hashdex, discusses the asset manager’s spot bitcoin ETF, which started trading in the U.S. last week.

Read more at: https://www.cnbc.com/video/2024/04/01/bitcoin-drops-below-70000-kick-off-april-cnbc-crypto-world.html

These undervalued dividend stocks are poised for a rebound, according to Wall Street

Investors looking for income along with potential capital appreciation may want to look at underperforming dividend stocks.

Read more at: https://www.cnbc.com/2024/04/01/these-undervalued-dividend-stocks-are-poised-for-a-rebound-according-to-wall-street.html

Trump’s potential Truth Social earnout is an avenue for outside interests if he becomes president

Donald Trump and the parent company of Truth Social are already under scrutiny for the payment schedule.

Read more at: https://www.cnbc.com/2024/04/01/trump-stock-earnout-poses-ethics-concerns-if-hes-president-experts-say.html

Macy’s hasn’t closed 150 stores yet. But Target, Kohl’s CEOs already smell opportunity

Macy’s closures of about 150 stores could put up to $2 billion in annual sales up for grabs for other retailers.

Read more at: https://www.cnbc.com/2024/04/01/macys-store-closures-target-kohls-tjx-could-benefit.html

United asks pilots to take unpaid time off, citing Boeing’s delayed aircraft

United previously paused pilot hiring because of late-arriving aircraft from Boeing.

Read more at: https://www.cnbc.com/2024/04/01/united-asks-pilots-to-take-unpaid-time-off-citing-boeing-delays.html

Oil prices rise amid reports Iranian consulate hit by missile strike in Damascus

Syrian and Iranian state media said Monday that an Israeli missile strike hit the Iranian consulate in Damascus, Syria.

Read more at: https://www.cnbc.com/2024/04/01/crude-oil-prices-today.html

Google to destroy browsing data to settle consumer privacy lawsuit

The class action began in 2020, covering millions of Google users who used private browsing since June 1, 2016.

Read more at: https://www.cnbc.com/2024/04/01/google-to-destroy-browsing-data-to-settle-consumer-privacy-lawsuit.html

Amazon is trying to get rid of its signature brown boxes. The retail shipping giant has a long way to go

Amazon’s brown box contributes to a cardboard excess that could pave a road from New York to LA three times. The iconic delivery package have become a target.

Read more at: https://www.cnbc.com/2024/04/01/amazons-long-journey-to-get-rid-of-its-signature-brown-boxes.html

Gold prices are at an all-time high—but experts like Warren Buffett don’t always recommend investing

Analysts say the environment for gold may be getting rosier this year, but think twice before making it a major component of your portfolio.

Read more at: https://www.cnbc.com/2024/04/01/gold-prices-hit-all-time-high-what-to-know-before-investing.html

Harvard Applications Decline Following Anti-Semitism Controversy

Authored by Eric Lundrum via American Greatness,

The prestigious Harvard University has seen a noticeable decrease in the number of applications to the school, after many months of controversy over the university’s handling of anti-Semitism on campus, as well as other controversies involving plagiarism and forced diversity.

According to Just The News, Harvard saw a 5% decrease in the number of applications between last year and this year.

While the class of 2027 saw about 57,000 applications for Harvard, the incoming class of 2028 saw about 54,000.

The controversy started in the immediate aftermath of the October 7th attacks against Israel by the Islamic terrorist group Hamas, which resulted in the deaths of over …

Read more at: https://www.zerohedge.com/political/harvard-applications-decline-following-anti-semitism-controversy

SUV Rams Front Gate Of FBI Atlanta Headquarters

Ameristar Perimeter Security, the maker of the “wedge barrier,” deserves a round of applause this afternoon after its barrier stopped an unauthorized vehicle dead in its tracks at the front gate of the FBI Atlanta headquarters.

Local media outlet Atlanta News First reports:

A person rammed into the front gate at the FBI Atlanta headquarters Monday afternoon.

Officials say it happened just after noon off Flowers Road. He was taken into custody by the DeKalb County Police Department.

The FBI said they could not provide any further details about what led this person to do this, but said there is no concern for public safety.

Ouch!

BREAKING: Suspect arrested after crashing car into FBI Atlanta gate, officials say

(📷: WAGA-TV …

Read more at: https://www.zerohedge.com/political/suv-rams-front-gate-fbi-atlanta-headquarters

Multiple IRGC Generals Reported Killed In Israeli Attack On Iranian Embassy In Syria

Update(1450ET): Tehran is vowing a “harsh” response to the Israeli attack on its embassy and consulate earlier in the day, which killed at least five to eight people, reportedly including IRGC leaders. Iran’s foreign minister slammed it as “a violation of all international obligations and conventions” while the Syrian government denounced it as a “terrorist attack”.

Iran’s Ambassador to Syria Hossein Akbari was not injured in the attack, which appeared to have occurred at the moment a high level meeting was taking place. Iranian state media has since confirmed the death of Brigadier General Mohammad Reza Zahedi, a senior commander in the elite Quds Force of the IRGC. There are further indicators that two more top IRGC commanders may be among the slain…

#Israel’s strike in #Damascus today is a huge development & a major escalation.

3 #IRGC-QF Generals:

– Brig. Gen. Mohammed Zahedi (Commander, #Syria & #Lebanon)
– Gen. Hossein Aminullah (Chief of General Staff, #Syria &

Read more at: https://www.zerohedge.com/geopolitical/iranian-embassy-syria-targeted-large-israeli-airstrikes-major-escalation

When Rogue States Embrace Crypto

Submitted by Omid Malekan

I want to talk about North Korea, but first we need to revisit El Salvador.

The Central American country’s decision to buy Bitcoin is looking good, despite almost universal skepticism from The Establishment when it was announced. Some of that skepticism ultimately proved accurate — legal tender status didn’t lead to mass adoption or cheaper remittances. But these motivations might have been red herrings all along.

President Bukele may have just wanted an excuse to acquire bitcoins for the government as part of their reserves. He was a bit overzealous and definitely too early in their purchases, but the decision paid off anyway. Not only has bitcoin appreciated in value, but El Salvador now has a part of its national savings in money that can’t be debased or confiscated.

This kind …

Read more at: https://www.zerohedge.com/crypto/when-rogue-states-embrace-crypto

Google to delete records from Incognito tracking

The search giant will block third party tracking by default for people searching the web in private mode.

Read more at: https://www.bbc.co.uk/news/business-68709119

Energy bills lowest for two years after £238 fall

Experts urge people to stick to energy saving habits despite the typical bill falling by £238 a year.

Read more at: https://www.bbc.co.uk/news/business-68674244

Millions get a pay rise as minimum wage increases

Above inflation wage-hikes are set to benefit 2.7 million low-paid workers and apprentices.

Read more at: https://www.bbc.co.uk/news/business-68678814

Is mkt turning stock-specific in broader space amid growing Sebi strictures?

The smallcap index crashed by over 14% from the highs it touched in Feb, before making a marginal recovery in the subsequent trading sessions. The index is still down by 8%+ from the peak even after this recovery, reflecting the nervousness in the broader space.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/is-the-market-turning-stock-specific-in-broader-space-amid-growing-sebi-strictures/articleshow/108951780.cms

Did top houseware cos cook returns for investors in 2024? Take a look

India’s Consumer Houseware market, valued at Rs 34,300 crore in FY23 has sustained a 7.20% CAGR from FY15-23 despite disruptions, according to a Kotak Securities’ report

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/did-most-valuable-houseware-companies-cook-returns-for-investors-in-2024-take-a-look/slideshow/108949942.cms

Tech View: Nifty forms Doji candle. What should traders do on Tuesday

Though Nifty 50 is placed at the crucial hurdle of around 22,500 levels, the overall chart pattern remains positive and we are unlikely to see any sharp decline from here. Any consolidation or dip could be a buying opportunity, said Nagaraj Shetti of HDFC Securities.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-doji-candle-what-should-traders-do-on-tuesday/articleshow/108948627.cms

AT&T data-breach victims: Here’s something better than credit monitoring — and it’s free

‘The reality of living in 2024 is your information is going to be stolen, so you need to act accordingly’

Read more at: https://www.marketwatch.com/story/at-t-data-breach-victims-heres-something-better-than-credit-monitoring-and-its-free-00ebe866?mod=mw_rss_topstories

Fears over persistent inflation resurface in U.S. Treasury market, ushering in volatility

Strong manufacturing-related data released Monday was enough to unleash fears of persistent inflation in the U.S. government-debt market.

Read more at: https://www.marketwatch.com/story/fears-over-persistent-inflation-resurface-in-u-s-treasury-market-ushering-in-volatility-d24a3f6c?mod=mw_rss_topstories

Treasury yields post biggest one-day leap in over a month as traders react to latest U.S. data

Yields on U.S. government debt jumped by the most in more than a month on Monday on signs of persistent inflation in the Institute for Supply Management’s manufacturing index and last Friday’s PCE report.

Read more at: https://www.marketwatch.com/story/treasury-yield-curve-steepens-as-traders-react-to-latest-inflation-data-ff20634e?mod=mw_rss_topstories