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Home2024August

Month: August 2024

Ofgem
Electrical Generation / Utilities

Ofgem unveils new proposals for UK energy network overhaul

August 3, 2024 Clark Savage

A new consultation outlines Ofgem‘s proposals for a regulatory approval and funding framework for onshore electricity transmission projects recommended by the Electricity System Operator (ESO). This initiative supports the ESO’s plan to connect 21GW of […]

AI

Week Recap: BRICS Financial Moves, Pipeline Congestion, and Green Energy Scrutiny

August 3, 2024 Clark Savage

Weekly Daily Standup Top Stories BRICS Officially Announces Financial System Similar to SWIFT July 26, 2024 Stu Turley The BRICS alliance is looking to bypass the Western SWIFT system and replace it with its own financial […]

Stocks
Finance

Stocks Swoon amid Rate-Cut Hopes after they’d Soared amid Rate-Cut Hopes? Whatever. Mag 7 -$2.26 Trillion from Peak, Semis Crushed, Nasdaq Bloodied

August 2, 2024 Stu Turley

By Wolf Richter for WOLF STREET. The stock market hype and hoopla since December 2023 was focused on the Fed cutting rates, the Fed was going to cut six times, seven times in 2024, and then at Fed […]

Crude Oil News

Billionaire oil CEO says Democrats are ‘starting to recognize’ the green energy push is ‘all a fallacy’

August 2, 2024 Stu Turley

With Vice President Kamala Harris doing a 180 on her administration’s oil production and fracking stance, one industry leader explained why many Democrats are changing their tune on the topic. “They know we need fossil […]

Power
AI

Global Power Demand Is Soaring, IEA Expects 4% Growth in ’24 & ‘25

August 2, 2024 Clark Savage

ENB Pub Note: We recommend following and subscribing to Robert Bryce’s Substack. I have thoroughly enjoyed my conversations with him on my podcasts.   Electricity is the world’s most important and fastest-growing form of energy. […]

Coal

India issued vesting orders for 10 coal mines

August 2, 2024 Stu Turley

These are projected to generate $19.96m annually. Coal Minister Shri G Kishan Reddy, has announced vesting orders for ten key coal mines across Jharkhand, Chhattisgarh, West Bengal, and Madhya Pradesh. This includes one fully explored […]

Japanese Stocks
Finance

Japanese Stocks Plunge, Yen Rises from the Ashes as BOJ Hikes, Ends Free Money, and Starts QT

August 2, 2024 Clark Savage

By Wolf Richter for WOLF STREET. The Japanese Nikkei 225 stock index plunged 5.7% on Friday, the biggest percentage drop since the Covid crash in March 2020. Since the all-time high on July 10, the index has plunged […]

Unemployment Rate
Finance

Growth in Jobs Slows to 2017-2019 Pace, Unemployment Rate Rises as Massive Wave of Immigrants Is Absorbed More Slowly

August 2, 2024 Stu Turley

By Wolf Richter for WOLF STREET. Payrolls at employers rose by 114,000 in July, below the growth in June and May. Back in April, job growth was even lower (108,000), and we went through the same handwringing. This […]

Big Oil Companies

Chevron Taking Its Headquarters To Texas

August 2, 2024 Stu Turley

U.S. oil and gas giant Chevron announced Friday it will relocate its corporate headquarters from its long-time location in San Ramon, hashtag#California to Houston, hashtag#Texas in the coming months. In a release, the company said […]

LNG
Exports

US weekly LNG exports climb to 24 shipments

August 2, 2024 Clark Savage

The agency said in its weekly report, citing shipping data provided by Bloomberg Finance, the total capacity of these 24 LNG vessels is 90 Bcf. This compares to 21 shipments and 79 Bcf in the week […]

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