Oilprice.com (November 18)
“The real reason that Big Oil won’t raise production is a matter of simple economics. Keeping the supply tight is just too good for the bottom line…. In fact, according to figures from Deloitte LLP, oil explorers in the United States are making more money now than at any other point in the more-than decade-long history of the nation’s shale revolution.”
Tags: Big oil, Bottom line, Decade, Deloitte, Economics, Money, Production, Shale revolution, Supply, Tight, U.S.
San Francisco Chronicle (November 18)
“Officials are concerned hospitals could be strained this winter as COVID-19 cases increase across the region ahead of Thanksgiving weekend.” In San Francisco infection rates have already “risen sharply in recent weeks…. With people expected to travel, gather with friends and spend more time indoors over the next few weeks… the region could soon head for another surge.”
Tags: COVID-19, Hospitals, Indoors, Infection rates, Officials, San Francisco, Strained, Surge, Thanksgiving, Travel, Winter
New York Times (November 17)
“Pandemic stocks have become passé: Peloton, Zoom and others” are making way “for the shares of ‘reopening’ companies.” The shift in market sentiment “reflects a broader reshuffling of the economy, as Americans return to gyms, concerts and other in-person activities.”
Tags: Concerts, Economy, Gyms, In-person, Market, Pandemic stocks, Peloton, Reopening, Reshuffling, Sentiment, Shares, Shift, U.S., Zoom
Los Angeles Times (November 17)
“It was already a dangerous race: China versus the United States, each pouring hundreds of billions of dollars into missiles, submarines, warplanes and ships, vying to dominate the Indo-Pacific.” Pentagon estimates suggest “that race may now go nuclear,” with China expected to have 700 nuclear warheads by 2027.
Tags: 2027
Wall Street Journal (November 16)
Royal Dutch Shell will abandon its complicated dual British/Dutch structure, moving its headquarters to London. The move is being made to “help facilitate returns to shareholders and make it simpler to change up its portfolio of assets” as it transitions to low-carbon energy. The move should also improve the company’s “flexibility to buy back shares.”
Tags: Assets, Buy back, Dual structure, Energy, Flexibility, Headquarters, London, Low-carbon, Portfolio, Returns, Shareholders, Shell, Transitions
McKinsey Global Institute (November 15)
Since 2000, net worth has tripled “to $510 trillion, or 6.1 times global GDP, with China accounting for one-third of global growth.” The increase “mainly reflects valuation gains in real assets, especially real estate, rather than investment in productive assets that drive our economies.” Remarkably, the “historic link between the growth of net worth and the growth of GDP no longer holds.”
Tags: $510 trillion, 2000, China, Economies, GDP, Global growth, Investment, Net worth, Productive assets, Real assets, Real estate, Valuation gains
Bloomberg (November 14)
The language of COP26 “crystallizes the more important reality that’s emerging away from the conference halls in power stations, industrial facilities and government offices around the world. In its modest way, it also helps edge that process along.” Since the 2015 Paris Agreement, electric cars have taken off beyond expectations and renewables are now “undercutting” fossil fuels for power generation: “one reason we’ve seen the likes of Indonesia, Vietnam, Poland and South Korea sign up to end the coal-fired electricity that they’ve been dependent on.”
Tags: 2015, COP26, EVs, Government, Indonesia, Industrial facilities, Paris Agreement, Poland, Power stations, Renewables, South Korea, Vietnam
Los Angeles Times (November 13)
“The key aim of COP26 was to ‘keep 1.5C alive.’ Despite pessimism among many heading into Glasgow, there is still reason to believe that’s possible. But only if the hard work begins now. We need to hold leaders accountable for their pledges and see to it that plans are carried out. Our future depends on it.”
Investment Week (November 12)
“The world’s two biggest emitters, who had been trading insults for the first week of the conference,” surprised the world with “a joint declaration that would see Washington and Beijing cooperate closely on the emissions cuts scientists say are needed in the next ten years to stay within 1.5C.”
Tags: Beijing, Conference, Cooperate, Emissions, Emitters, Joint declaration, Scientists, Trading insults, Washington
The Street (November 11)
“Amid record low inventory and sky-high demand, the average American home now sits on the market for only seven days — a phenomenon that is pushing many homeowners into moving quickly.” The National Association of Realtors found “the time that a home spent on the market before going into contract” hit a record low of “seven days between July 2020 and June 2021.”
