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☆ Port of Virginia is making big changes to become No. 1 on the East Coast for super-sized ocean containerships
▼ + stars: | 2024-05-09 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The dredging project is expected to be completed in Fall 2025, making the Port of Virginia the deepest and widest harbor on the East Coast. "Ultra-large container vessels have challenged every port," said Stephen Edwards, CEO of the Port of Virginia. Edwards said the port was able to quickly absorb Baltimore freight because of the ocean carrier service overlap in calling on the Port of Virginia, Baltimore and Port of New York/New Jersey. In January, the port became the first East Coast port to power all its terminals with 100% clean energy, eight years ahead of the 2032 target it set for that goal. The expansion will increase the fleet at NIT to 152 electric stacking cranes, seven electric rail cranes, and 31 electric ship-to-shore cranes.

Persons: Lori Ann LaRocco, Stephen Edwards, " Edwards, Edwards, It's, Good Hope, D'Andrae Larry, Larry, Jones, monopiles, Monopiles Organizations: NIT, CNBC, U.S ., Commonwealth, Walmart, Maersk, Port, Baltimore, Rail, Norfolk International, Uber, Virginia Department of Transportation, Dominion Energy, Rappahannock Electric Cooperative, ClearView Energy Partners, of Ocean Energy, U.S, District of Columbia, Dominion Locations: Port of Virginia, Port, Virginia, U.S . East Coast, Norfolk, Coast, of Virginia, East Coast, U.S, Delaware, South, Southeast Asia, Northeast Asia, India, Red, Suez, Good, Baltimore, Port of Baltimore, Port of New York, New Jersey, of Virginia's, Commonwealth, Norfolk , Virginia, East, Virginia Beach

☆ Why the oil market shrugged as Iran and Israel appeared on the brink of war this week
▼ + stars: | 2024-04-20 | by ( ) www.cnbc.com time to read: +3 min

U.S. crude oil and global benchmark Brent finished out the week about 3% lower, despite the fact that Iran and Israel traded direct strikes against each other's territory for the first time. Fears that oil prices could shoot to $100 a barrel or above did not materialize. The market has essentially erased the risk premium associated with the Iran-Israel tensions after traders bid up prices last week on war fears. "These skirmishes did not impress the oil markets, which believe that no disruption to oil flows will occur." Papic said a sustained war between Israel and Iran is difficult to imagine and may even be practically impossible.

Persons: Ali Mohammadi, Israel, Manish Raj, John Kilduff, Marko Papic, Papic, Brent, Kilduff, CNBC's Organizations: Persian Gulf, Bloomberg, Getty, Brent, Israel's, Israel, Traders, Velandara Energy Partners, Again, International Atomic Energy Agency, Clocktower Locations: Bandar Abbas, Iran, Israel, U.S, Damascus, Syria, Tehran

☆ European markets head for mixed open after Wall Street logs another day of declines
▼ + stars: | 2024-04-18 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

Crude oil futures fell more than 3% Wednesday as the market dismissed the risk of a wider war between Israel and Iran that could disrupt supplies. The West Texas Intermediate contract for May delivery lost $2.76, or 3.23%, to $82.60 a barrel. June Brent futures were down $2.87, or 3.19%, at $87.15 a barrel. U.S. oil and the global benchmark are down more than 3.5% for the week. "Theories of Iran-Israel tension disrupting oil supplies have fizzled out," said Manish Raj, managing director of Velandera Energy Partners.

Persons: Brent, Manish Raj, — Spencer Kimball Organizations: The West Texas Intermediate, Velandera Energy Partners Locations: Israel, Iran, The, U.S

☆ 'Iran is in for the long haul' with oil tanker hijacks, expert says, as U.S. considers more sanctions
▼ + stars: | 2024-04-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Before this weekend's tanker seizure, the last vessel Iran hijacked was the St. Nikolas on January 1. A Planet Labs satellite image of the location of the MSC Aries and other tankers recently hijacked by Iran. Planet Labs PBCAs the U.S. considers more sanctions against Iran in response to its recent attack on Israel, Iran has been using the hijacked ships as a means of sanctions retaliation. Iran chose to do this as a way to compensate for sanctions," Madani said. In a note to clients, ClearView highlighted that the House of Representatives added several Iran sanctions bills to its calendar for consideration this week, under suspension rules, including new sanctions on Iranian oil exports to China.

Persons: Nikolas, Houthis, Samir Madani, Eyal Ofer's, Madani, Janet Yellen, Helima Croft, Andy Lipow, Brent, Lipow, Kevin Book, Book Organizations: Anadolu, Getty, MSC Aries, U.S . Naval Forces Central Command, Galaxy Leader, MSC, Planet Labs, U.S . Energy Information Agency, United Arab, JPMorgan, CNBC, Lipow Oil Associates, ClearView Energy Partners, US, UN Locations: Gulf of Oman, Hormuz, Anadolu, Iran, Israel, Gaza, U.S, Iranian, Khuran, China, Russia, Malaysia, United Arab Emirates, Oman, Strait, Tehran, East, North Africa, India, Saudi Arabia, Kuwait, Iraq, France, Germany

☆ Surging oil prices may challenge the Federal Reserve's inflation fight
▼ + stars: | 2024-04-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

Mounting geopolitical tensions stemming from conflict in the Middle East and Eastern Europe have helped drive oil prices to five month highs, challenging the Federal Reserve's fight against inflation. U.S. crude oil gained 4.5% this week, touching $87 a barrel on Friday before settling at $86.91. Rising energy prices may affect the timing or magnitude of interest rate cuts, he said. The Federal Reserve is focused on bringing down core inflation, which excludes volatile energy and food prices. Escalating attacks are coming against a backdrop of an already tightening global crude market.

Persons: Brent, Bart Melek, Andy Lipow, Lipow, Bob Yawger, Yawger, Netanyahu, Manish Raj, White, Biden, John Kilduff, Kilduff, Melek, Saudi Arabia doesn't Organizations: Federal, American Automobile Association, West Texas, TD Securities, Lipow Oil Associates, Mizuho Americas, Valero, Philips, Marathon Petroleum, Velandera Energy Partners, Kyiv, JPMorgan, Financial Times, Again Capital, Bank of America, Saudi Locations: East, Eastern Europe, Iran, Israel, Ukraine, Damascus, Kyiv, Ukrainian, Russia, Saudi Arabia

☆ Crypto and AI data centers are driving up energy consumption forecast: ClearView Energy’s Tim Fox
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto and AI data centers are driving up energy consumption forecast: ClearView Energy’s Tim FoxTimothy Fox, ClearView Energy Partners managing director, joins 'Squawk Box' to discuss the impact of crypto mining and AI surge on the U.S. energy grid, what it means for the power sector at large, and more.

Persons: Tim Fox Timothy Fox Organizations: ClearView Energy Partners

☆ Oil prices will probably remain 'rangebound' in 2024, says financial services firm
▼ + stars: | 2024-02-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil prices will probably remain 'rangebound' in 2024, says financial services firmDan Pickering, CIO of Pickering Energy Partners, says "if we do see an upside move in prices, it's probably because something bad is happening in the world, primarily in the Middle East or the Russia-Ukraine crisis."

Persons: Dan Pickering Organizations: Pickering Energy Partners Locations: Russia, Ukraine

☆ Oil prices rise as market monitors Gaza cease-fire talks, OPEC production cuts
▼ + stars: | 2024-02-27 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

U.S. President Joe Biden speaks during the annual National Prayer Breakfast at the U.S. Capitol in Washington, D.C., U.S., February 1, 2024. Crude oil futures rose Tuesday amid uncertainty about the prospects for a cease-fire in the Israel-Hamas war and as some investors expect OPEC+ will extend its production cuts beyond the first quarter. President Joe Biden told reporters in New York City on Monday that he hoped a cease-fire would be reached in the Israel-Hamas war by March 4. OPEC+ will soon make a decision on whether to extend its production cuts beyond the first quarter. Raj said the lack of clarity in the Israel-Hamas war and the ongoing turmoil with Houthi militants in Yemen gives traders little reason to sell oil right now.

Persons: Joe Biden, Biden, there's, Ahmed Abdel Hadi, Al Mayadeen, Goldman Sachs, Manish Raj, Raj, Israel, Charles van der Organizations: U.S, Capitol, Washington , D.C, West Texas Intermediate, Brent, OPEC, Velandera Energy Partners, CNBC, Reuters, Maersk North Locations: Washington ,, Israel, New York City, Lebanon, U.S, Gaza, OPEC, Saudi Arabia, Yemen, Maersk

Former President Donald J. Trump, the front-runner for the Republican nomination, has repeatedly attacked central elements of the Inflation Reduction Act, including tax credits for purchasing electric vehicles. “Otherwise it’s all going to be on the chopping block.”The Inflation Reduction Act contains various tax credits and other subsidies to incentivize companies to deploy more clean energy projects. It also includes tax breaks for consumers to offset the cost of electric vehicles, heat pumps and other energy-efficient appliances. That could cut the number of eligible vehicles, potentially hindering progress toward the Biden administration’s goal of having electric vehicles make up half of new car sales by 2030. The estimated cost of the Inflation Reduction Act’s energy incentives has effectively doubled since it passed, largely because forecasters believe the legislation will be more popular than they originally expected.

Persons: Biden, Donald J, Trump, “ We’ve, Frank Pallone Jr, Thomas Pyle, ’, Pyle, Kevin Book, Sean Rayford, ” Mr, John Ketchum, Ketchum, “ It’s, Mr, Sasha Mackler, David Carroll, we’ve, Carroll, T.J . Kirkpatrick, ” Michael Kikukawa, Lori Esposito Murray, Ms, Murray, Jeanna Smialek Organizations: Republican, Democratic, Company, Biden, House Energy, Commerce, American Energy Alliance, ClearView Energy Partners, The New York Times, NextEra Energy, Republicans, Center, Engie, White, Economic Development, Conference Board, “ Locations: States, China, New Hampshire, America, Indiana, Texas, Irvine , Calif

☆ Here are Tuesday's biggest analyst calls: Nvidia, Disney, Walmart, Apple, Arista, Ford, Rivian, Block & more
▼ + stars: | 2024-02-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley initiates Ford as a top pick Morgan Stanley said it's standing by its top pick status on Ford. Morgan Stanley initiates Dynatrace as equal weight Morgan Stanley initiated the software stock with an equal weight and said patience is needed. Morgan Stanley reiterates Disney as overweight Morgan Stanley said Disney's participation in a sports streaming bundle is 'low-risk." Morgan Stanley adds Huntington Bancshares to the financials finest list Morgan Stanley added the regional bank to its financials finest list. Morgan Stanley reiterates Rivian as overweight Morgan Stanley said it's standing by its overweight rating on the stock, but that the company will need "substantial funding" to complete its Georgia plant.

Persons: Goldman Sachs, Goldman, ANET, hyperscaler, Morgan Stanley, Ford, it's, Dynatrace, Redburn, Evercore, Susquehanna, Piper Sandler, Trimble, Piper, Riley, Bernstein, Disney, Huntington Bancshares, Huntington, Banks, Stephens, Cantor Fitzgerald, Stratasys, Cantor, Rivian Organizations: Arista Networks, Ford, downgrades, Airlines, UBS, Nvidia, NextEra Energy Partners, Taiwan Semiconductor, Apple, Apple Services, DIS, FOX, Deutsche Bank, Walmart, Citi, GSK, " Bank of America, of America Locations: NVDA's, North America, NAPA, Georgia

☆ How the U.S. Became the World’s Biggest Gas Supplier
▼ + stars: | 2024-02-03 | by ( Brad Plumer | Nadja Popovich | ) www.nytimes.com time to read: +8 min

Became the World’s Biggest Gas SupplierTop exporters of liquefied natural gas 12 billion cubic feet per day U.S. Qatar 10 Australia 8 6 Russia 4 Malaysia 2 2014 2023 12 billion cubic feet per day United States Qatar Australia 10 8 6 Russia 4 Malaysia 2 2014 2023 Source: S&P Global Note: Data reflects annual average liquefied natural gas exports by country. But climate activists worry that soaring exports of liquefied natural gas could make global warming worse. In the early 2000s, natural gas was relatively scarce at home, and companies were spending billions of dollars to build terminals to import gas from places like Qatar and Australia. In the mid-2000s, U.S. drillers perfected methods to unlock vast reserves of cheap natural gas from shale rock. The process of making and shipping liquefied natural gas adds complexity and cost, but if the difference between U.S. natural gas prices and overseas prices is big enough, it is profitable.

Persons: Biden, Fracking, ”, Kenneth Medlock, —, Ben Cahill Organizations: U.S, drillers, Cheniere Energy, Center for Energy Studies, Rice University, “, Asia, Department of Energy, Energy Department, . Energy, Energy Information Administration, Clearview Energy Partners, Center for Strategic, International Studies Locations: U.S, Qatar, Australia, Russia, Malaysia, United States Qatar Australia, United States, Japan, Europe, Asia, Ukraine, China, India, Pakistan, Bangladesh, Vietnam, Texas , Louisiana, Maryland, Georgia, Mexico

☆ These 6 stocks will be non-AI winners of an AI boom, says Scotiabank
▼ + stars: | 2024-01-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

While demand for artificial intelligence applications is seeing rapid growth, several non-tech companies are well-positioned to benefit directly from the AI boom over the next few years, according to Scotiabank. This is because although GPUs, the specialized chips that power AI applications, are more efficient, they consume more than twice as much electricity to operate compared to non-AI chips such as CPUs. The Scotiabank analysts named six stocks that they think are well-positioned to capitalize on surging demand for data centers and renewable energy from AI applications. Meanwhile, earlier this week, fellow data center firm Equinix launched a new cloud service that will allow companies to manage their Nvidia AI supercomputing infrastructure to build AI applications. Due to their massive, power-hungry data centers, Scotiabank noted that the tech companies are the largest corporate consumers of renewable power.

Persons: Equinix, AI's Organizations: Scotiabank, Analysts, Digital Realty, Digital, Nvidia, supercomputing, JV, Big Tech, Google, Microsoft, NextEra Energy, NextEra Energy Partners, Brookfield Renewable Partners, Big

☆ The 4 most important things we're watching in the stock market this coming week
▼ + stars: | 2024-01-20 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago

☆ Four predictions for 2024: Brian Sullivan's outlook for the new year
▼ + stars: | 2024-01-16 | by ( Brian Sullivan | ) www.cnbc.com time to read: +5 min

Coming off a wonderfully surprising stock market global boom of 2023, this year could be anybody's guess. Utility-scale solar projects are growing around the world, and Wall Street firm T.D. There is too much money chasing solar projects, someone has to win. Here's the thinking for 2024: global oil demand is going to grow, but given China's rolling economic pain it may increase by less than some expect. Russia remains robust on global markets despite sanctions, and OPEC may have done most of what it can to keep its member and allies production levels lower to balance out global markets.

Persons: Brendan Mcdermid, I'm, there's, we've, SolarEdge, T.D, Cowen Organizations: New York Stock Exchange, NextEra Energy Partners, SolarEdge, Investors, U.S, Nat, Citigroup Locations: New York City, U.S, Brazil, Guyana, Russia, OPEC, China, Saudi Arabia

☆ EIG Global Energy Partners Expects New LNG Acquisition Within Months
▼ + stars: | 2023-11-30 | by ( Stuart Condie | ) www.wsj.com time to read: 1 min

EIG CEO R. Blair Thomas said the investment firm is closing in on a deal for a liquefied natural gas asset worth several billion dollars. Photo: F. Carter Smith/Bloomberg NewsSYDNEY—U.S. investment firm EIG Global Energy Partners is closing in on a deal for a liquefied natural gas asset worth several billion dollars, as it raises bets on demand for the fuel amid a reordering of energy supply chains triggered by Russia’s invasion of Ukraine. Chief Executive R. Blair Thomas said EIG’s MidOcean Energy unit is working on the deal in parallel with an effort to buy Australia’s Origin Energy as part of a consortium led by Brookfield Asset Management. MidOcean would acquire Origin’s 27.5% stake in the Australia Pacific LNG project in eastern Australia if the consortium’s nearly $11 billion offer for the company is successful.

Persons: Blair Thomas, Carter Smith, EIG’s, MidOcean Organizations: Bloomberg News SYDNEY —, EIG Global Energy Partners, Energy, Brookfield Asset Management, Australia Pacific LNG Locations: Bloomberg News SYDNEY — U.S, Ukraine, Australia

☆ Cramer's Lightning Round: 'I'm not a buyer' of NIO
▼ + stars: | 2023-11-30 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Iron Mountain's year-to-date stock performance. Stock Chart Icon Stock chart icon Q2's year-to-date stock performance. Stock Chart Icon Stock chart icon Pfizer's year-to-date stock performance. Stock Chart Icon Stock chart icon NIO's year-to-date stock performance. Stock Chart Icon Stock chart icon Cava's year-to-date stock performance.

Persons: I've, let's Organizations: Uranium Energy, Uranium Energy Corp, Pfizer, American Airlines, NextEra Energy Partners

☆ Every country needs an Inflation Reduction Act
▼ + stars: | 2023-11-23 | by ( Antony Currie | ) www.reuters.com time to read: +9 min

REUTERS/David Gray/File Photo Acquire Licensing RightsMELBOURNE, Nov 23 (Reuters Breakingviews) - Lawmakers in South Korea blasted the U.S. Inflation Reduction Act as a betrayal. Yet concerns about market distortion from the policy intended to stimulate investment in the energy transition and signed into law by President Joe Biden in August 2022 are easing. The Biden administration’s willingness to negotiate on its package of $370 billion of tax breaks and other measures has helped. Reuters GraphicsTrouble is, governments also need to show that they will be fiscally responsible stewards of the energy transition in the short term – especially with inflation still a threat and budgets under pressure. In a speech on Nov. 2 about enabling Australia’s energy transition, Treasurer Jim Chalmers said that “incentives like the type we’ve seen in the Inflation Reduction Act in the United States can be part of an answer but they’re not the whole answer”.

Persons: David Brockwell, David Gray, Australia’s Fortescue, FMG.AX, Joe Biden, Biden, –, Goldman Sachs reckons, ’, Uncle Sam, Fumio, Jim Chalmers, they’re, Chalmers, Una Galani, Thomas Shum Organizations: REUTERS, Rights MELBOURNE, Reuters, Australia, Washington, European, of America, Labor Energy Partnership, U.S, Canberra, Climate Energy Finance, Climate Capital Forum, Deloitte, National Australia Bank, quicken, Thomson Locations: Lake George, Canberra, South Korea, United States, Seoul, European Union, U.S, Japan, Washington, EU, Australia

Their options include drawing up a supplementary budget for 2023 and suspending Germany's self-imposed debt brake before reinstating it for next year. "Our goal is to discuss the budget quickly but with due care," said a joint statement of ruling party lawmakers. The delay has heightened uncertainty about spending in all areas of the German economy and meant the 2024 budget might not be concluded before the end of the year. "I firmly assume that the commitments for Intel and TSMC will remain," a government source said, adding: "This is very important to the chancellor, as well as to the economy minister." This will happen in the course of next early 2024 and we will see how far hydrogen is available," CEO Miguel Lopez said.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Olaf Scholz's, Scholz's, Siegfried Russwurm, TSMC, Scholz, Miguel Lopez, Holger Hansen, Christian Kraemer, Victoria Waldersee, Andreas Rinke, Madeline Chambers, Matthias Williams, Miranda Murray, Alex Richardson, Christina Fincher Organizations: Finance, Climate, Government, Ukraine Industry, Intel, TSMC, Wednesday, Social Democrat, Greens, Free Democrats, Fund, Eurasia Group, U.S, BMW, Volkswagen, Thomson Locations: TSMC BERLIN, Germany's, Ukraine, EU, Saxony, Anhalt, Berlin, Germany

☆ Britain to launch South Korea trade talks as president visits
▼ + stars: | 2023-11-20 | by ( Alistair Smout | ) www.reuters.com time to read: +4 min

King Charles greeted President Yoon Suk Yeol with a royal guard of honour following his arrival in London, and then rode with him by carriage to Buckingham Palace. He will hold talks with British Prime Minister Rishi Sunak on Wednesday, and sign an accord on closer diplomatic ties. Under the accord, the countries will agree to work closely on areas such as semiconductors - of which South Korea is an important producer - and artificial intelligence. [1/4]Members of the Royal Air Force (RAF) welcome South Korean President Yoon Suk Yeol and his wife Kim Keon Hee, as they arrive at Stansted Airport, near London, Britain, November 20, 2023. "REFRESHED, MODERNISED DEAL"Under Yoon, South Korea has focused on strengthening economic, political, and military ties with the U.S. while seeking to maintain trade with China and working to overcome historical disputes with Japan.

Persons: Yoon, King Charles Yoon, King Charles, Yoon Suk, Rishi Sunak, Sunak, Yoon Suk Yeol, Kim Keon Hee, Toby Melville, David Beckham, Son Heung Min, Kemi Badenoch, Alistair Smout, Kylie MacLellan, Sarah Young, Josh Smith, Alistair Bell, Stephen Coates, Timothy Heritage, David Gregorio Our Organizations: LONDON, British, Accord, Trade, Downing, North, Royal Air Force, South, Stansted Airport, REUTERS, Trans, Pacific Partnership, European Union, Thomson Locations: Britain, Korea, London, Buckingham, United Kingdom, Downing, South Korea, North Korea, U.S, China, Japan, Seoul

WASHINGTON (AP) — A project to build a first-of-a-kind small modular nuclear reactor power plant was terminated Wednesday, another blow to the Biden administration's clean energy agenda following cancellations last week of two major offshore wind projects. Oregon-based NuScale Power has the only small modular nuclear reactor design certified for use in the United States. “We absolutely need advanced nuclear energy technology to meet (the Biden administration’s) ambitious clean energy goals,'' spokeswoman Charisma Troiano said. In 2020, the Trump administration approved up to $1.4 billion for the project, known as the Carbon Free Power Project. Most prospective subscribers were unwilling to take on the risks associated with developing a first-of-a-kind nuclear project, the Utah group said.

Persons: Joe Biden's, Biden, Charisma Troiano, “, Timothy Fox, Fox, Trump, Obama, John Hopkins, NuScale, Ken Cook, ” Cook, ___ McDermott Organizations: WASHINGTON, Biden, Idaho National Laboratory, Energy Department, DOE, ClearView Energy Partners, The Energy Department, Energy Department's, Energy Department's Idaho National Laboratory, Carbon, Power, Congress, Utah Associated Municipal Power Systems, Nuclear Energy Institute, Environmental, U.S . Nuclear Regulatory Commission, AP Locations: Oregon, United States, Utah, Idaho, New Jersey, U.S, Washington, Idaho Falls , Idaho, Energy Department's Idaho, California, Providence , Rhode Island

☆ Kinder Morgan to Purchase NextEra Energy Partners’ Texas Pipeline For $1.8 Billion
▼ + stars: | 2023-11-07 | by ( Ben Glickman | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Locations: texas

The headquarters of U.S. energy exporter and pipeline operator Kinder Morgan Inc. is seen in Houston, Texas, U.S. September 27, 2020. REUTERS/Gary McWilliams/File Photo Acquire Licensing RightsNov 6 (Reuters) - U.S. pipeline operator Kinder Morgan (KMI.N) said on Monday it would acquire NextEra Energy Partners' (NEP.N) gas pipelines in South Texas for $1.82 billion. NextEra Energy Partners' (NEP) Texas natural gas pipeline portfolio, STX Midstream, primarily consists of seven pipelines which provide natural gas to Mexico and power producers and municipalities in South Texas. "Upon closing, the proceeds would be sufficient to pay off the outstanding project-related debt," NextEra Energy Partners' CEO John Ketchum said in a statement. The sale price represents an about 10 times multiple on the estimated calendar-year 2023 adjusted core profit for the Texas natural gas pipeline portfolio, NEP said.

Persons: Gary McWilliams, Kinder Morgan, KMI.N, STX Midstream, John Ketchum, Seher Dareen, Sourasis Bose, Shilpi Majumdar Organizations: Kinder Morgan Inc, REUTERS, NextEra Energy Partners, NextEra Energy, Energy Partners, Guggenheim Securities, Thomson Locations: Houston , Texas, U.S, South Texas, Texas, Mexico, Bengaluru

Interest rates for long-term borrowing for capital improvements also would be less costly for Pine Tree Power. The anger and frustration from electric ratepayers in Maine is a far cry from the days when Iberdrola bought Central Maine Power, the state’s largest electric utility. The privately operated, nonprofit Pine Tree Power utility would contract with a private grid operator through a competitive bidding process. But Pine Tree Power would face some of the same constraints as CMP and Versant. And, like the existing utilities, Pine Tree Power would have no control over the actual cost of electricity, which comprises about half of consumers' monthly bills.

Persons: Mainers, ”, Timothy Cox, Janet Mills, William Harwood, Seth Berry, Harwood, Ann, Ursula Schryver, Schryver, Mike Jacobs, Jacobs, who's, Christie Decker, “, Decker, Freed, Willy Ritch, ” Al, David Sharp, @David_Sharp_AP Organizations: Central Maine Power, Energy Partners, Democratic Gov, Maine Public, CMP, Nationwide, American Public Power Association, Union of Concerned Scientists, Iberdrola, Maine, Tree, Maine Affordable Energy Coalition Locations: PORTLAND, Maine, U.S, Washington, Tree, Francisco, San Diego, Ann Arbor , Michigan, Rochester , New York, Nebraska, Boston, Wilton, Pine, ” Al Cleveland

In total, the cancellations equate to nearly one-fifth of President Joe Biden’s goal of 30 gigawatts of offshore wind power by 2030. Despite the setbacks, offshore wind continues to move forward, the White House said, citing recent investments by New York state and approval by the Interior Department of the nation’s largest planned offshore wind farm in Virginia. Hardy spoke at the American Clean Power industry group’s offshore wind conference in Boston last month on a panel with Morris. Phil Murphy, has established increasingly stringent clean energy goals, moving from 100% clean energy by 2050 to 100% by 2035. “Offshore wind is a lot bigger than Ørsted.”The first U.S. commercial-scale offshore wind farms are currently under construction: Vineyard Wind off Massachusetts and South Fork Wind off Rhode Island and New York.

Persons: jeopardizing, Ørsted, Joe Biden’s, Biden, Timothy Fox, “, Molly Morris, David Hardy, Hardy, Morris, “ We’re, ”, Walt Musial, Musial, Conor Bambrick, Phil Murphy, Murphy, Catherine Klinger, Catherine Bowes, ″ Bowes, Michael Brown, ” ___ McDermott Organizations: WASHINGTON, Biden, Interior Department, Interior’s Bureau of Ocean Energy Management, Industry, ClearView Energy Partners, Ørsted, American Clean, National Renewable Energy Laboratory, Energy Department, P, Environmental, ., Democratic Gov, New, U.S, Offshore, Ocean, ___, AP Locations: New Jersey, U.S, Danish, New England, Massachusetts, Connecticut, New York, Virginia, Interior’s, Gulf of Mexico, East Coast, Washington, Norwegian, Jersey, United States, Boston, Europe, Virginia Beach, Rhode Island, . New Jersey, Rhode, North America, Providence , Rhode Island, Hill, Albany , New York, Catalini, Trenton , New Jersey

The world's biggest offshore wind farm company on Tuesday said it would cease all development on the Ocean Wind projects even as it moves forward with developments off neighboring New York, triggering an angry response from New Jersey Governor Phil Murphy. "People did not anticipate (Orsted) backing out of Ocean Wind," said Timothy Fox, VP at research firm ClearView Energy Partners. Nipper told analysts that unlike Ocean Wind, Orsted is still pursuing Sunrise for several reasons, including the fact that the company has already lined up a vessel to build it. Under the most accelerated proposal, the New York State Energy Research & Development Authority said it could release the next offshore wind request for proposals in late November or early December. The Ocean Wind cancellation was the latest setback for the nascent U.S. offshore wind industry in recent months, which U.S. President Joe Biden and several states have counted on to fight global warming.

Persons: Phil Murphy, Timothy Fox, Mads Nipper, Nipper, Orsted, Joe Biden, Murphy, Scott DiSavino, Jarrett Renshaw, Nichola Groom, Bill Berkrot Organizations: ClearView Energy Partners, Sunrise, New York State Energy Research, Development Authority, Analysts, BP, U.S, Thomson Locations: New Jersey, New York, U.S, Massachusetts, Connecticut, Culver City , California

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