Day: May 10, 2021

Crude oil futures have rallied to their highest finish in months, with WTI price climbing above $65 for the first time in two months after OPEC+ stuck with plans to gradually ease production curbs, signaling confidence in the demand outlook. The optimism has coincided with a breakout season for the S&P 500, with the Energy Sector (XLE) being particularly impressive. Indeed, the fossil fuel sector is enjoying a rare blowout season. The majority of companies in the energy sector have beat Wall Street earnings estimates, while more than 80% have managed to surpass…

Read More

Wherever you are on the planet, the last 12 months have been very difficult.In seeking the strongest economic recovery from the pandemic, it is understandable that many on the centre-right in particular want to focus on boosting existing industries. But when it comes to the energy sources of the future, investing in coal power would be an expensive mistake, not just for the environment but for the economy too. Morrison government to pledge another $58.6m to ‘gas-fired recovery’ in budgetRead moreThe environmental case against coal has been well known for…

Read More

But China’s near monopoly on the materials could be the biggest challenge to Biden’s plans. “China occupies 80% of production, and their internal demands are outstripping their supply,” Defense Metal CEO Craig Taylor told FOX Business on Thursday. “That leaves the West really behind if we don’t get it together and start funding these projects.” China has invested at least $60 billion to support its electric vehicle industry, CNBC reported in March. And U.S. EV giant Tesla built its first overseas factory near Shanghai in 2020 to secure a foothold…

Read More

The business plan of Engro Elengy Terminal Private Limited (EETPL) to increase its capacity to regasify LNG is in jeopardy as SSGC has opposed it on account of host of reasons, including the NAB’s investigation into the ‘illegal award of contract’ of the LNG terminal-1 to EETPL. Unless and until the NAB clears EETPL from its investigation on illegal award of contract of LNG Terminal-1, it cannot be allowed to implement its business plan to increase its capacity to regasify LNG and market the additional capacity to interested private parties…

Read More

The first 1,000 days of Prime Minister Imran Khan’s government have been eventful. The economy went into a recession last year with the outbreak of the pandemic and continues to suffer from high food prices and a rising cost of living. The new finance minister has been a vocal critic of the government’s handling of the economy and wants to renegotiate the $6 billion Extended Fund Facility (EFF) of the International Monetary Fund (IMF). Even before the Covid-19 pandemic hit the world economy, Pakistan had already started a painful adjustment…

Read More