Refilling the U.S. Strategic Petroleum Reserve may take years, U.S. Energy Secretary Jennifer Granholm said this week, reversing plans the Biden administration announced late last year to repurchase at lower prices oil it sold from the reserve in 2022. However, the relatively limited size of the planned repurchases in proportion to global oil demand makes assessing the impact on U.S. crude oil markets somewhat difficult—especially amid current global economic trends and geopolitical challenges. KEY TAKEAWAYS U.S. Energy Secretary Jennifer Granholm said this week it may take years for the government to replenish its Strategic Petroleum Reserve. It's a reversal of plans the government announced last year to repurchase oil it sold from the reserve at lower prices. Current global economic concerns and geopolitical conditions, however, present challenges in assessing the market impact of the decision. Granholm told a House panel Thursday that the U.S. likely would not … [Read more...] about US to Take Years to Refill Its Strategic Petroleum Reserve
Nyka outlook
Tarriela earns her seat at the table
PLANTITA Flor Tarriela, a corporate leader, ex-banker, gardening aficionado —Flor’s Garden website Having made strides in the corporate world for over three decades, Flor Gozon-Tarriela proves that a woman can earn and hold her seat at the table dominated by men. She was recently installed as lead independent director at local mining giant Nickel Asia Corp. (NAC), one of two female directors on the board who are able to offer truly impartial and independent insights when it comes to decision-making. Tarriela is joined by Maria Patricia Riingen, another female trailblazer who had held various executive positions at Western Union, Asian Development Bank and Citibank N.A. “Mining is actually close to my heart. My father (Benjamin M. Gozon) used to be the director for the Bureau of Mines for 14 years before he became the secretary of the Department of Agriculture and Natural Resources,” says Tarriela. “I look at NAC and it’s doing very well, it’s very progressive,” she adds. … [Read more...] about Tarriela earns her seat at the table
Make Your Own Bank Run On These Blue-Chip Yields
Share to Twitter Share to Linkedin Is it time for us contrarians to “buy the dip” in bank stocks? We’re drowning in big bank-scare headlines. Silicon Valley Bank (SIVB VB ) knuckled under in days, Signature Bank (SBNY) wasn’t too far behind, and across the pond, Credit Suisse (CS) needed a buyout bailout from rival UBS (UBS) . The next bank run, however, won’t be with the big boys . Too big to fail, baby . Here, we’ll find not only government help but also secure yields of up to 5.1%—trading at a discount, no less. Why the big guys? Well let me show you. Last week, my software firm received this email from one of our vendors: “Brett, Just wanted to give you our new banking details. We’re out of SVB; we’re moving to JPM.” JPM for the win. And they’re not the only big bank benefiting. CNN recently reported that Bank of America BAC (BAC) , Wells Fargo WFC (WFC) and Citigroup C (C) “have all experienced a … [Read more...] about Make Your Own Bank Run On These Blue-Chip Yields