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Why A Ban On Fracking Will Never Happen

It’s primary season, which generally means Democratic candidates for President are trying to see who can swing farthest Left. This is especially true when it comes to punishing the oil and gas industry that supplies most of the country’s energy. Senator Bernie Sanders and Senator Kamala Harris have both made similar promises. But these are simply not realistic promises. What Fracking Did For America The resurgence of U.S. oil and gas production over the past dozen years is directly attributable to fracking. While fracking has been going on in the ...

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Qatar shortlists partners for North Field expansion, but says it may go it alone

Qatar has shortlisted international oil firms for a stake in its expanded North Field megaproject, Qatar Petroleum’s chief executive told Reuters, but may still choose to go it alone unless majors offer it significant value. The expansion of tiny but gas-rich Qatar’s liquefied natural gas (LNG) facilities, already the world’s largest, is one of the energy sector’s most lucrative projects, and the world’s top oil and gas majors have been racing to secure a stake. Invitations to bid were sent out last month and the result is due to be ...

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Asian light ends market prepares for winter; LPG set to rise from 2-year lows

The Asian light ends market this week will take on further characteristics inherent to the winter period, with Asian LPG prices set to rise from two-year lows on improving fundamentals while gasoline continues to be pressured by lower US NYMEX RBOB futures. Asian naphtha is expected to be rangebound this week as most buyers had covered their spot requirements for October at the tail end of last week, ahead of the Asia Pacific Petroleum Conference in Singapore over September 9-11. LPG DEMAND TO RISE ON LOW PRICES Asian LPG prices ...

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UK GAS-Prices jump as demand surge outstrips supply

British prompt wholesale gas prices jumped on Monday as a spike in demand due to colder weather and lower wind generation outstripped supply. * Gas for immediate delivery rose 5.05 pence to 28.50 pence per therm at 0745 GMT. * Day-ahead gas was yet to trade although the contract was bid at 27.00 pence, compared to a closing price of 25.10 pence per therm. * The system opened undersupplied by 20 million cubic metres (mcm) with demand forecast at 186.2 mcm and supply seen at 167.7 mcm, National Grid data ...

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A Big Mistake China’s Political Elite Makes In Fighting The Trade War

In fighting the US-China trade war, China’s political elite makes a big mistake: it assumes that China has achieved “power parity” with the US. That’s according to a recent article published in the September issue of Current History. It argues that the growing economic interdependence between the world’s two largest economies has given China the “false impression” that it has reached power parity with the US; and that gives Chinese officials the confidence that they can reach a “win-win” deal with Washington. “Anchoring to that relationship, in a typical Chinese ...

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Japan’s Economy Grows at Slower Pace as Capex Proves Less Strong

Japan’s economy expanded at a slower pace in the second quarter than initially reported, as growth in business investment proved less robust than first thought. Gross domestic product grew at an annualized pace of 1.3% in the three months through June from the previous quarter, revised Cabinet Office data showed Monday, with strong consumer spending the main driver of the expansion. That compared with a preliminary reading of 1.8%. The revised figure matched analysts’ median estimate. Economists had expected overall growth to be smaller than first estimated after finance ministry ...

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Wake Media enhances customer offering with appointment of leading industry content specialist

Wake Media is delighted to announce the appointment of leading technology editor Gavin Lipsith as the new Head of Content. Effective as of Tuesday 1 October 2019, Gavin will join the growing team at Wake Media to focus on developing the agency’s content offer to its clients. As a veteran journalist and former editor of marine technology titles The Motorship and Marine Propulsion & Auxiliary Machinery, Gavin brings considerable market knowledge that will assist Wake Media and its clients in aligning their communications with the evolution of the shipping industry. ...

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We’re Using The Wrong Measure (GDP) To Gauge The Economy’s Real Health: Mark Skousen

Here’s a conversation you must listen to. It will prove invaluable in determining what is actually happening to the economy. We’ve long been led to believe that the best measure of an economy’s size and health is GDP—gross domestic product. Not so! says renowned economist Mark Skousen, who has authored a number of noted books, which includes a highly respected text for college students. A more comprehensive and enlightening picture is GO, gross output, or as it is called in Britain, total output. It’s the difference between an X-ray and ...

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GRAINS-Corn rebounds from 4-month low; U.S. harvest prospects cap gains

U.S. corn futures on Monday rebounded from a nearly four-month low touched in the previous session, though favourable weather conditions in North America stoked expectations of ample global supplies, curbing further gains. FUNDAMENTALS * The most active corn futures on the Chicago Board Of Trade were up 0.4% at $3.56-3/4 a bushel, as of 0139 GMT, having closed down 0.9% in the previous session when prices hit a May 13 low of $3.53 a bushel. * The most active soybean futures were up 0.1% at $8.58-3/4 a bushel, having closed ...

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India’s new FDI policy may not be enough for private coal mining to take off

Workers at India’s state-owned coal mining company are upset about the government’s decision to clear 100% foreign direct investment in the industry. Five trade unions, representing the workers of the state-owned miner Coal India, have even called for a strike on Sept. 24 against the move that will allow global players like Glencore, BHP, and Anglo American to enter India. However, the likelihood of this move translating into actual investments remains low given the bureaucratic hurdles, an uncertain future for the industry in the face of climate change and domestic ...

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Indonesia sets September coal benchmark price (HBA) at near three-year low

The Indonesian government on Monday lowered the coal benchmark price (HBA) for September to $65.79 per tonne, the lowest since October 2016, an energy ministry spokesman said. The previous month’s benchmark price, which the government uses to calculate a miner’s royalties, was $72.67 per tonne. The weaker September benchmark was due to pressure from increased coal supply in China and India, as well as falling demand from the European continent, ministry spokesman Agung Pribadi said. State utility PLN will purchase coal from miners at the HBA price level, instead of ...

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Sebi likely to give Deutsche Bank nod to operate as commodity custodian for MFs

Markets regulator Sebi is likely to give approval to Deutsche Bank by next month to operate as a custodian in the commodities space, a move which will enable participation from institutional investors, including mutual funds and portfolio management service providers, in such segment. To help broaden the commodity derivatives market, Sebi’s board in March this year approved a proposal to allow mutual funds and portfolio managers to trade in this segment. Moreover, the regulator made necessary amendments in the custodian regulations so as to provide for requisite custodial services. The ...

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Conference Board’s Employment Trends Index Notches Lower in August

An index measuring employment trends decreased slightly in August after rising the month before, according to a monthly report from the Conference Board. The Conference Board Employment Trends fell to 110.62, down from a downwardly revised reading of 110.72 in July. The decrease marks a 0.5% decline in the ETI over the past 12 months. “For only the second time since the financial crisis, the year-over-year growth in the Employment Trends Index turned negative. And indeed, job growth has clearly slowed in 2019,” Gad Levanon, head of the Conference Board’s ...

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Years of forex market calm sends currency funds to the wall

The Chinese yuan’s tumble is stirring hopes of a long-awaited volatility boost for forex markets but any rise will be too late for the currency funds that have shut down this year, and it may be too small to hold out much hope for those that remain. Currency traders who wring out more profits when prices move wildly consider themselves cursed by the prolonged calm in forex markets brought about by rock-bottom interest rates and central banks moving more or less in tandem on monetary policy. The yuan’s Aug. 12 ...

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Deutsche Börse : Eurex scraps fee to attract euro clearing from London before Brexit

Deutsche Boerse’s Eurex Clearing arm said on Monday it was scrapping booking fees for customers that want to switch clearing in over-the-counter derivatives to the Frankfurt operator before Britain leaves the European Union. Most euro-denominated derivatives traded off-exchange, such as interest rate swaps, are cleared by the London Stock Exchange’s LCH unit. Britain’s scheduled departure from the EU has prompted calls from euro zone policymakers for it to move to the EU. “The incentive program of Eurex Clearing provides for a 100% discount on booking fees for portfolio switches in ...

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