Where low prices are just the beginning

Share to Twitter Share to Linkedin Democrats continue to decry high gasoline prices and accuse oil companies of price gouging, but lawmakers should consider whether their policies restricting domestic energy production are to blame for soaring consumer prices. Democrats may want to look in the mirror before pointing the finger at the people who create jobs and produce the energy this country runs on. The Democrats' own policies are causing the energy scarcity that's driving up prices. Oil and gas prices have risen because of falling supply. Less than a decade ago, there were 1,600 active drilling rigs in the country producing or searching for oil; now, there's a quarter of that number. There were twice as many drilling rigs operating in the Gulf of Mexico before the pandemic hit in spring 2020. That was also the last time oil was at or above $100 a barrel. Why? Because the energy sector faces severe supply chain shortages, including skilled … [Read more...] about Congress Picks Populism Over Increased Supply With Price Gouging Legislation

U.S. equity markets wavered to begin the new month, reflecting investors' uncertainty over issues ranging from the impact of corporate earnings to how Fed rate hikes will shape the economy this year. UPS Inc. ( UPS ) is the best-performing stock in the S&P 500 on its earnings news. Better-than-expected earnings are also lifting shares of Exxon Mobil Corp. ( XOM ). That’s boosting shares of other energy companies as well. Shares of cruise lines, airlines, and other travel-related companies are advancing on decreasing omicron variant case numbers. Key Takeaways U.S. equity markets wavered to begin the new month, with all three major indexes fluctuating between green and red. The quit rate fell for the first time since Dec. 2020. Ups and downs reflect investors' uncertainty over issues ranging from the impact of corporate earnings, Fed rate hikes, and ongoing supply chain and pandemic concerns. The yield on the 10-year Treasury note has widened and narrowed … [Read more...] about Stocks Fluctuate to Begin Month as Investors Digest Data, Earnings

Tesla, Inc.'s ( TSLA ) shares reversed course from their recent downward trajectory and rose by 3% on Monday, Jan. 10, after key analysts upped their price targets for the stock. Goldman Sachs analyst Mark Delaney confirmed Tesla as a Top Pick for his firm, and Tesla bull Adam Jonas of Morgan Stanley said that the company was a winner in the electric vehicle (EV) race. Both analysts increased their price targets for Tesla shares. The increase in share price came after a bruising four-day period for the stock during which its price fell from $1,200 to as low as $980. The decline occurred even after Tesla announced record delivery numbers . Key Takeaways Electric carmaker Tesla's stock reversed course and rose yesterday after key analyst revisions to its price targets. Noted Tesla bull Adam Jonas of Morgan Stanley revised his price target to $1,300 from $1,200 and stated that Tesla was winning the EV marathon. Goldman Sachs analyst Mark Delaney rated Tesla stock a Top … [Read more...] about Tesla (TSLA) Stock Rises After Analysts Boost Price Targets

Share to Twitter Share to Linkedin The context is transitioning from fossil energy to renewables. One key aspect of this is transport via gasoline or diesel vehicles and its transition to electric motors driven by batteries or hydrogen. The fossil fuel industry should be concerned about the efficiency and cost of sustainable transport, because that will determine the speed of the transition which will likely affect the decline of oil production and perhaps the oil and gas industry itself. Elon Musk knows batteries. He builds them: to propel cars and trucks, at one bookend, to grid-scale behemoths that store and stabilize electrical power for hundreds of homes and commercial enterprises, at the other bookend. Last week, May 12, 2022, Musk said hydrogen “is the most dumb thing I could possibly imagine for energy storage.” This is not the first time, as Musk has made similar negative comments in past years. A few years ago, Musk told reporters that hydrogen … [Read more...] about Is Elon Musk Right Or Wrong To Dismiss Hydrogen Use For Low-Carbon Energy Storage?

- A + A PARIS/MANILA (May 16): International wheat prices jumped on Monday as an export ban by India, the latest country to use trade curbs to counter food inflation, threatened to further squeeze world wheat supply strained by the war in Ukraine. US and European wheat futures climbed by nearly 6%, with the Chicago market — the global benchmark — earlier reaching its daily trading limit and Paris prices approaching all-time highs. By end of its overnight trading session, Chicago futures were up 4.9%, off an earlier two-month peak. Wheat has contributed to record highs this year for global food prices as measured by the UN's food agency, with Russia's invasion of Ukraine upending the market by halting massive shipments from Ukrainian sea ports. India's embargo, prompted by a heatwave that has cut harvest prospects and sent domestic prices soaring, marks a policy U-turn after the government maintained just days earlier that it was still targeting record exports of … [Read more...] about Wheat prices jump as India export ban adds to supply squeeze

A wounded service member of Ukrainian forces from the besieged Azovstal steel mill in Mariupol is transported on a stretcher out of a bus, which arrived under escort of the pro-Russian military in the course of Ukraine-Russia conflict in Novoazovsk, Ukraine May 16, 2022. REUTERS/Alexander Ermochenko KYIV/MARIUPOL, Ukraine — Troops holed up in the last Ukrainian stronghold in the besieged port of Mariupol began evacuating on Monday, appearing to cede control of the once prosperous city to Russia after months of bombardment. Ukraine’s deputy defense minister said 53 injured troops from the Azovstal steelworks were taken to a hospital in the Russian-controlled town of Novoazovsk, some 32 kilometers (20 miles) to the east. Another 211 people were taken to the town of Olenivka, in an area controlled by Russian-backed separatists, Deputy Defense Minister Anna Malyar said. All of the evacuees will be subject to a potential prisoner exchange with Russia, she added. Reuters saw five … [Read more...] about Ukrainian force begins evacuating from last Mariupol stronghold

Representative Image | Wheat sacks are loaded onto a truck at the grain market in Punjab. The Commerce Department had fought the plan to ban the export of wheat even as the Agriculture Ministry sounded the alarm on the fast-reducing estimates of wheat production due to the heatwave, officials told Moneycontrol . They added that the Ministry of External Affairs (MEA) had supported keeping exports under bilateral arrangements since the Prime Minister and External Affairs Minister have till now been requested by leaders from many countries to help ensure their food security in the face of a global shortage of wheat. On May 13, India banned wheat exports with immediate effect as the world's second-largest wheat producer attempted to stabilise rising domestic prices. The government also struggled with the public procurement process, which received a low response from farmers who continued to sell at much higher prices to traders. The ban came in the backdrop of official … [Read more...] about Exclusive | Commerce Department pushed to keep wheat exports open but agri ministry wanted ban

Share to Twitter Share to Linkedin Naturally, the war in Ukraine and its impact on Russian oil flows is the dominant factor in today’s oil market, but few wars last forever. It is possible that Putin will declare victory and leave in the near future, but equally possible that the conflict will revert to pre-invasion status, that is, continuing but low-level fighting in eastern Ukraine. Aside from these unknowns (or at least, known only to Putin), there are a number of salient facts that need to be considered but are often overlooked. The most important thing, and a lesson that never seems to penetrate the public mind: wars and crises tend to be transient and temporary, and many — if not most — factors will soon revert to pre-crisis behavior. First, sanctions will ease: Russian oil and gas have not been put under sanctions by any major consuming nations; the biggest impact has come from companies that have voluntarily ceased purchases primarily of oil. … [Read more...] about The Oil Market After The War

advertisement advertisement Solyndra was a solar startup that was primed to succeed–it raised over $1 billion from investors, and managed to secure a prized $535 million federal loan guarantee in 2009 to build a solar panel factory. The government keeps saying that the clean energy industry and green-collar jobs will be what saves the economy, and Solyndra was a large part of that theory. This week, Solyndra announced that it is bankrupt. While this is bad news for investors–and the DOE loan program–it might not necessarily be a bad thing for the solar industry. In a statement, Solyndra explained why it went bankrupt: “Despite strong growth in the first half of 2011 and traction in North That price compression is an important point. Solyndra thought it would be successful when photovoltatic modules cost $3.25 per watt. But in the past 24 months, solar prices have fallen 70%, and are now moving close to grid parity (the point when it is just as cheap … [Read more...] about Why It’s Not A Bad Thing For Solar Power That Solyndra Went Bankrupt

Representative Image.(Courtesy : AP) India will soon be sending trade delegations to at least nine wheat importing nations to explore the possibilities of boosting wheat exports. The move comes amid widespread loss of yield in major wheat growing states, and low response to public procurement by farmers who continue to sell at much higher prices to traders. The Centre will send trade delegations to Morocco, Tunisia, Indonesia, Philippines, Thailand, Vietnam, Turkey, Algeria, and Lebanon to promote Indian wheat , the Commerce and Industry Ministry said on May 12. The move is part of the government's efforts to export 10 million tonnes of wheat in 2022-23, amid rising global demand, it said. Not more than 10 days after the Ukraine crisis began, the Centre began discussions with various countries, including Egypt, Turkey, China, Bosnia, Sudan, Nigeria and Iran on commencing wheat exports. Initial shipments have also begun to some of these nations. The Agricultural and … [Read more...] about India to send trade delegations to 9 countries to boost wheat exports