Day: July 15, 2022

Are Energy Markets Responsible For Currency Craziness?

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As mentioned in the last post, the huge break in energy prices between the US and the rest of the world could explain the extreme dollar strength we have seen this year. Part of the problem I have with that is that the corollary of that trade is energy exporters should see a boost from the improved terms of trade. Australia is one of the biggest LNG exporters in the world, and it has not seen any currency appreciation. There is another way of looking at currency markets that would…

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Who Really Controls The World’s Oil Reserves?

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Big Oil majors in the United States have found themselves the target of much pressure to boost production lately, as prices go wild amid a tight—and tightening—market. At the same time, the U.S. government, as well as the EU, have been looking all over the world for more supply. Wood Mackenzie just had some bad news for them. According to new research from the energy consultancy, more than half—65 percent, to be precise—of the world’s discovered oil and gas reserves are under the control of national oil companies. The reason this is bad…

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EFP warns Govt of looming Gas crisis

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President, Employers’ Federation of Pakistan(EFP), Ismail Suttar, has said that the Government of Pakistan should increase the price of gas for domestic consumption. As a country undergoing an economic crisis, the government must seriously take steps to curb wastage of precious gas resources. In a statement, EFP president said that Pakistan already has a deteriorating Balance of Payments (BOP) position and hence must take strict measures to curb its energy crisis. The biggest wastage of energy resources is through wastage of Liquefied Natural Gas (LNG) in Pakistan. Majority of countries…

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Joint Statement of the Leaders of India, Israel, United Arab Emirates, and the United States (I2U2)

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On July 14, 2022, we, the Heads of Government of India, Israel, the United Arab Emirates (UAE), and the United States, convened for the first leaders’ meeting of the “I2U2” Group. This unique grouping of countries aims to harness the vibrancy of our societies and entrepreneurial spirit to tackle some of the greatest challenges confronting our world, with a particular focus on joint investments and new initiatives in water, energy, transportation, space, health, and food security. We intend to mobilize private sector capital and expertise to modernize infrastructure, advance low…

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CTBCM design: NEPRA, NTDC on the warpath

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National Electric Power Regulatory Authority (Nepra) and National Transmission and Despatch Company (NTDC) are said to be on the warpath with respect to implementation of the Competitive Trading Bilateral Contract Market (CTBCM), sources close to Chairman Nepra told Business Recorder. Sharing the details, sources said, the Authority, in a letter to Managing Director NTDC, expressed serious annoyance at the latter’s letter in which serious questions were raised on the design of CTBCM. “The Authority is extremely disappointed at the highly unprofessional letter in which NTDC has raised very basic queries,” Nepra…

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