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Home2024August

Month: August 2024

Green Energy
Climate Crisis

Thanks To Gov. Murphy’s ‘Green Energy Nightmare’, New Jerseyans’ Electric Bills Have Doubled

August 31, 2024 Stu Turley

Energy bills for New Jersey residents have doubled with widespread calls to hold the state utility commission, the governor and green energy supporters accountable. After a surge in home energy bills that left many New […]

ExxonMobil
Big Oil Companies

Green Transition? ExxonMobil Predicts Steady Oil Demand For The Next 25 Years

August 31, 2024 Stu Turley

ExxonMobil issues a report that anticipated oil demand reaching a ‘plateau’ in 2030 and remaining fairly stable for the next 20 years. ExxonMobil produced a report on Monday that anticipated oil demand reaching a “plateau” […]

Climate
Climate Crisis

Biden Climate Czar, CCP Official To Have Climate Talks As Chinese Coal Binge Soars

August 31, 2024 Stu Turley

Climate czar John Podesta is set to meet with Chinese Communist Party officials to expand US-China collaboration on climate change. White House senior adviser John Podesta is set to meet with Chinese Communist Party (CCP) […]

Crude Oil News

Week Recap: From Peak Oil in China to Tesla Trends

August 31, 2024 Andy Del Prado

Weekly Daily Standup Top Stories Is China’s Demand for Oil Nearing Its Peak? August 25, 2024 Stu Turley China’s oil imports in July were down 12% from June and 3% from July 2023, raising concerns about […]

bp
Big Oil Companies

BP stock falls behind Shell as investors shy away from green energy

August 30, 2024 Stu Turley

London’s old-school oil stocks are no longer moving in tandem, as BP Plc underperforms Shell Plc due to concerns over the former’s green-energy transition and the outlook for earnings and shareholder payouts. August is set to mark the fifth-straight […]

Drunken Sailors
Finance

Our Drunken Sailors Are at it Again, Not at All in the Mood for a Slowdown or a Recession

August 30, 2024 Stu Turley

Inflation-adjusted consumer spending jumped. They splurged on durable goods. And still saved some. In response, the Atlanta Fed’s GDPNow jumped. By Wolf Richter for WOLF STREET. Consumer spending, adjusted for inflation, rose by 0.39% in July from June. Spending growth […]

Honda
Electric Vehicles

Honda executives expose a cruel reality of the US EV market

August 30, 2024 Mariel Alumit

Though it seems like a very new technology, the American auto market is acclimating to fully electric vehicles. According to data from Kelley Blue Book and Cox Automotive, over 330,463 EVs were sold in the second […]

PCE Price Index
Finance

Fed Favored Annual Core PCE Price Index Slightly Up, at 2.6%: Core Services Inflation 3.7%, Durable Goods Deflation -2.5%

August 30, 2024 Stu Turley

Month-to-month, core services inflation jumped while durable goods deflation deepened, and so core PCE price index hits Fed’s target. By Wolf Richter for WOLF STREET. The “Core” PCE price index, the Fed’s primary yardstick for its 2% inflation target, […]

Oil
Crude Oil News

Oil Prices Set for Monthly Decline as Demand Concerns Grow

August 30, 2024 Mariel Alumit

Uncertainty continues to dominate oil markets, although demand concerns appear to be overcoming supply shocks to push oil prices toward a monthly loss. Friday, August 30th, 2024 It’s been a volatile week for oil markets, […]

OPEC+
Crude Oil News

Oil Prices Drop as OPEC+ Looks to Increase Production in October

August 30, 2024 Mariel Alumit

OPEC+ will likely begin unwinding its production cuts in October, six OPEC+ sources told Reuters on Friday. If OPEC+ does decide to start the process of ramping up production in October, it will be largely […]

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