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Oil prices jumped 4% on Monday during Asia hours , in the wake of the attack. Young said names in international and offshore oilfield services should pick up as oil prices rebound. "It just executed a large set of acquisitions and is well positioned for higher oil prices and more interest in the sector." Generally, Young said oil and gas stocks are "particularly compelling." Neuhauser said small-cap energy stocks that have leveraged to increased oil prices are the ones to own right now.
Persons: Josh Young, Young, Saturday . Young, Antony Blinken, Biden, CNBC's, David Neuhauser, Stocks, Neuhauser, Scott Nations Organizations: Bison, Hamas, Saturday ., United Nations, Reuters, U.S . Energy Information Administration, Livermore Partners, CNBC Pro, Nasdaq, Weatherford, Vital Energy, Exxon, Global Energy, Vista Energy, Jadestone, Brent, Scott, Chevron, ConocoPhillips Locations: Israel, Asia, Iran, U.S, Tehran, Strait, Hormuz
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisement"Your Facebook account has been suspended because your account, or activity on it, doesn't follow our Community Standards." Suddenly Facebook blocked me from my accountAn email from Facebook said I had 30 days to disagree with their decision. Being banned from Facebook helped me see that a platform built for scrolling isn't where I'm meant to be. In the end, it has made a positive impact on my business, relationships, and mental health.
Persons: , Weeks, they'd, I'd Organizations: Facebook, Service
Anna HirtensteinAnna Hirtenstein is a reporter at The Wall Street Journal, covering global financial markets, macroeconomics and geopolitics from the London bureau. She joined the Journal in 2019. Previously, she was a reporter at Bloomberg in London and a clean-energy investment banker at Greentech Capital Advisors in Zurich. In the early days of her career, she worked as a correspondent with a focus on oil in Northern Iraq and West Africa.
Persons: Anna Hirtenstein Anna Hirtenstein Organizations: Wall Street, Bloomberg, Greentech Capital Locations: London, Zurich, Northern Iraq, West Africa
Many investors were burned in the years leading up to Covid during the rise of ESG and bear market in oil. "We like that investment," said Jase Auby, the chief investment officer for the pension system, which has a 6% allocation to energy and energy infrastructure. Auby said his pension system stress tests for oil prices because it is very volatile. The Texas pension system is a long-term investor and looks at energy that way, as it does the broader commodities complex. "I get the hedge in the inflation scenario," he said, adding that the pension system holds commodities in its risk parity portfolio for inflation reasons.
Persons: Jase Auby, Auby, — Eric Rosenbaum Organizations: of Locations: of Texas, Texas
At least $4.5 trillion a year in clean-energy investments will be needed by the start of the 2030s to reach net zero by 2050, the IEA said. “We have the tools needed to go much faster,” the report said. It estimates that 80% of the emissions reduction needed by 2030 can come from increasing renewable generation, energy efficiency and electrification, as well as from cutting methane emissions. The new report comes as policies toward green energy globally are at a crossroads, with politicians balancing green ambitions with energy security and a cost-of-living squeeze. “Without efforts to reduce methane emissions from fossil fuel supply, global energy sector CO2 emissions would need to reach net zero by around 2045,” the report said.
Persons: Ajit Solanki, , Yusuf Khan Organizations: Press, International Energy Agency, IEA, Business Locations: Surendranagar, Gujarat, India, Paris, Ukraine, China
UBS reiterates Levi Strauss as buy UBS said Levi Strauss' earnings will be less bad than feared in early October. Oppenheimer names Domino's a top pick Oppenheimer named Domino's as a top pick and said the downward revision cycle has "bottomed." Bank of America reiterates Meta as buy Bank of America said it's bullish heading into Meta's annual Connect conference event on Wednesday. "Given Meta's increased focus on integrating Al across surfaces, and CEO commentary on AI Agents on prior earnings calls, we believe the event may also include announcements on new AI/ML products." Citi reiterates Micron as buy Citi said its bullish heading into Micron earnings on Wednesday.
Persons: Baird, Levi Strauss, LEVI, Morgan Stanley, Oppenheimer, Domino's, Stifel, it's, Tesla, TSLA, Jefferies, Edwards, Goldman Sachs, Goldman Organizations: UBS, Barclays, Bank of America, Meta, Agents, JPMorgan, Apple, Nike, Citi, Micron, RBC, HSBC, AMC, ~$ Locations: Greater China, China
President Biden’s labor and environmental goals are colliding in the auto industry, where concerns over the electric vehicle transition underpin an autoworkers strike. But in states like Maine, unions and environmental groups have teamed up in an attempt to make a central promise of the president’s green agenda come true for workers. Mr. Biden has a favorite phrase when talking about the expansive climate bill he signed into law last year: “When I think climate — not a joke — I think jobs,” he said last month at the White House. “When I say climate means jobs, I mean good-paying union jobs.”That has not yet been the case for Mr. Biden’s agenda. Their efforts center on the development and deployment of offshore wind power, a sector that, like electric vehicles, is crucial to Mr. Biden’s economic and emissions goals.
Persons: Biden’s, Biden, Organizations: White Locations: Maine, Tennessee, South Carolina, Michigan
LITTLETON, Colorado, Sept 20 (Reuters) - Despite the heat waves, wildfires and floods that have amplified calls to accelerate the global energy transition away from fossil fuels, investors withdrew record funds from the world's largest clean energy investment vehicles so far this year. LOST LIMELIGHTA key driver behind the withdrawals from clean energy investment funds this year has been the relative attractiveness of other sectors, such as artificial intelligence. The clean energy space had outperformed other sectors, including technology, over the past two years, and so was likely due for a bit less investor attention this year. However, an equally important factor behind the outflows in clean energy has been the spate of high profile corporate and national disappointments in critical areas of the clean energy industry. In all, weak spots have emerged on key frontiers of the clean energy industry, which have justified the retreat in investment.
Persons: Gavin Maguire, Miral Organizations: Investors, Clean Energy, Outflows, First Trust, Energy, Carbon Energy, Robotics, Intelligence, Enphase Energy, European Commission, EV, Reuters, Thomson Locations: LITTLETON , Colorado, Britain, United States, Gulf, Mexico, U.S
Biden's economic agenda has meant real changes for many Americans, like clean water and internet access. That $1 million came from President Joe Biden's $1.9 trillion American Rescue Plan , which was passed in 2021 to revitalize the economy and replenish Americans' wallets. But for the target groups seeing their everyday lives changed by Bidenomics funding, it can make a world of difference. AdvertisementAdvertisementThe hidden wins from BidenomicsWith 2024 looming, and Americans dreary on the economy, Bidenomics is still an elusive beast. Americans who are not part of targeted populations receiving these grants are left to contend with sky-high prices on their own.
Persons: Bradley Bonds, Bonds, Joe Biden's, Bidenomics, Biden, it's, Alice Stewart, It's, Stewart, Gallup, Rose Carter, Carter, Jodi Cutaiar, , there's, Max Berger, Elizabeth Warren's, Berger Organizations: Service, Fire, Congressional, CNN, Bidenomics, Alliance for Congregational, Rescue Plan, Biden, American, Companies, Justice Democrats, Republican Locations: Wall, Silicon, South Carolina, Middle America, Carolina, Phoenix, Pennsylvania, Ohio
FILE PHOTO-A coffee machine featuring Novo Nordisk logo is seen at the company headquarters in Copenhagen, Denmark, February 5, 2020. REUTERS/Jacob Gronholt-Pedersen/File Photo Acquire Licensing RightsCompanies Novo Nordisk A/S FollowLONDON, Sept 14 (Reuters) - The controlling shareholder in drugmaker Novo Nordisk on Thursday announced a major investment in a new energy transition fund as it expands its portfolio beyond health. Novo Holdings controls 76% of the votes in Denmark's Novo Nordisk (NOVOb.CO), which became Europe's most valuable company last week on the back of soaring profits from its weight-loss drug Wegovy and type 2 diabetes drug Ozempic. Novo Holdings' capital to invest is burgeoning on Novo Nordisk's financial performance. Novo Holdings is wholly owned by the Novo Nordisk Foundation, which lists its aims as providing "a stable basis for the commercial and research activities conducted by the companies within the Novo Group", of which Novo Nordisk is the largest, and supporting "scientific, humanitarian, and social purposes."
Persons: Jacob Gronholt, Pedersen, Morten Beck Jorgensen, " Jorgensen, Maggie Fick, Amanda Cooper, Elaine Hardcastle Organizations: Novo Nordisk, REUTERS, drugmaker Novo Nordisk, Novo Holdings, Denmark's, Denmark's Novo Nordisk, Holdings, Glentra Capital, Glentra, Reuters, Novo, Novo Nordisk Foundation, Thomson Locations: Copenhagen, Denmark, drugmaker Novo, Denmark's Novo, Glentra Capital
At the center of it allClean energy investments by Masdar could help Uzbekistan, a vast, landlocked country in Central Asia where the population and its energy needs are growing rapidly, rely less on the fossil fuels that make up nearly all of its energy arsenal today. Its government relies entirely on foreign funding to build up its energy infrastructure, however, and will take what it can get. He said he hoped to get countries to agree on a tripling of global renewable energy capacity at the climate talks. Emirati funding of both renewable and fossil energy is playing out elsewhere, too. In Azerbaijan, a recent Adnoc investment in an offshore oil field overshadowed Masdar’s expansion in renewable energy.
Persons: Jaber Organizations: Oil Change Locations: Uzbekistan, Central Asia, Masdar, Al, Azerbaijan, Germany, Japan
Jim Lo Scalzo/Pool via REUTERS Acquire Licensing RightsSept 11 (Reuters) - The United States should think about eliminating corporate subsidies, including to energy companies, U.S. Deputy Treasury Secretary Wally Adeyemo said in New York on Monday. Adeyemo defended President Joe Biden's budget proposal for fiscal 2024, noting that achieving fiscal sustainability would include modest tax increases, boosting tax revenue collections and finding other ways to cut costs. "None of us thinks it makes sense to subsidize energy companies in light of how they're doing in this country. But there are probably other subsidies and other things we can do to make the budget more efficient." Adeyemo said he hoped to engage with Republicans in the House of Representatives about the issue, without giving any further details.
Persons: Wally, Adeyemo, Jim Lo Scalzo, Wally Adeyemo, Joe Biden's, Donald Trump's, Republican Ronald Reagan, Bill Clinton, Andrea Shalal, Deepa Babington Organizations: Senate, Treasury, Washington , D.C, REUTERS Acquire, Economic, of New, Big Oil, Republican, Thomson Locations: Dirksen, Washington ,, United States, New York, of New York, Ukraine
The firm, which manages Norway’s $1.4 trillion government pension fund, is the world’s biggest single investor in the stock market. The decision to close its Shanghai office was driven by “operational considerations” and doesn’t affect the fund’s investments or its investment strategy in China, NBIM said in a statement on Thursday. There are currently eight people in the Shanghai office, the firm said. Norges Bank is the central bank of Norway. Ontario Teachers’ Pension Plan, one of the world’s largest pension funds, closed its Hong Kong-based China equity investment team earlier this year.
Persons: NBIM, Odin Jaeger Organizations: Hong Kong CNN — Norges Bank Investment Management, Norges Bank, Bloomberg, Getty, Ontario, CNN, Forrester Research, Consulting Locations: China, Hong Kong, Shanghai, Asia, Singapore, Oslo, Norway, Norwegian
[1/2] Venezuela's President Nicolas Maduro gestures during a meeting with Chile's Ambassador to Venezuela Jaime Gazmuri, at Miraflores Palace, in Caracas, Venezuela August 16, 2023. REUTERS/Leonardo Fernandez Viloria/File Photo Acquire Licensing RightsBEIJING, Sept 8 (Reuters) - Venezuela's President Nicolas Maduro will visit China over Sept. 8-14, China's foreign ministry said on Friday, marking renewed engagement between the two countries amid deepening tensions between Beijing and Western capitals. The visit coincides with the G20 summit in New Delhi this weekend, which China's president Xi Jinping will not attend. China is the world's largest importers of crude oil, while Venezuela has the largest proven reserves. The company stopped carrying Venezuelan oil in August 2019 after the Trump administration tightened sanctions against the South American exporter.
Persons: Nicolas Maduro, Venezuela Jaime Gazmuri, Leonardo Fernandez Viloria, Wang Yi, Delcy Rodriguez, Xi Jinping, Maduro, Xi, Trump, Hugo Chavez, Andrew Hayley, Liz Lee, Christopher Cushing Organizations: REUTERS, Rights, Venezuelan, UN, Energy, South, Thomson Locations: Venezuela, Miraflores, Caracas, Rights BEIJING, China, Beijing, Shanghai, New Delhi, Kpler, Malaysia, South American
These are Wall Street's favorite energy stocks as oil rallies
  + stars: | 2023-09-07 | by ( Pia Singh | ) www.cnbc.com   time to read: +3 min
For investors looking to play this trend, here are some energy stocks with the greatest long-term upside potential. The sector has added 0.5% this week as oil prices rallied from news of extended voluntary oil supply cuts from Saudi Arabia and Russia until year-end. Oil and natural gas company Diamondback Energy is another name on the list. Natural gas producer EQT , oil and gas giant EOG Resources , as well as petroleum refining and marketing company Valero Energy , are also Wall Street favorites. For investors looking for energy stocks but who do not want to bet on individual names, the Energy Select Sector SPDR Fund (XLE) and the iShares U.S. Energy ETF (IYE) track companies in the sector.
Persons: Russell, Halliburton, Nitin Kumar, EQT, — CNBC's Michael Bloom Organizations: Energy, CNBC, Oil, Resources, Diamondback Energy, Diamondback, Energy Partners, Warwick Capital Partners, Valero Energy, Mizuho Securities, Valero, Energy Investment, U.S . Energy Locations: Saudi Arabia, Russia, Oil and Texas, EQT, U.S, XLE
Energy investment in Africa needs to more than double by the end of the decade if the continent is to meet its energy and climate goals. “Energy investment on our continent has fallen short,” wrote William Ruto, president of Kenya, in the report’s foreword. Photo: Lucien Kahozi/Bloomberg NewsAll of these are pushing up the cost of capital which makes many African energy projects financially unviable despite ample local resources and proven technologies such as wind or solar power, the report said. PREVIEWCurrently, 600 million people across Africa lack access to electricity and almost one billion have no access to clean cooking fuels. African nations are seeking redress for the effects of climate change they experience despite contributing little to carbon emissions, the main driver of global warming.
Persons: , Fatih Birol, simon maina, William Ruto, Lucien Kahozi, Will Horner, william.horner@wsj.com Organizations: International Energy Agency, African Development Bank, IEA, Agence France, West, “ Energy, Democratic, Bloomberg, Sustainable Business, Africa Climate Locations: Africa, Paris, ” Africa, China, Kenya, Democratic Republic of Congo, Ukraine, Nairobi
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDecarbonizing has tremendous growth potential for energy infrastructure, says Tortoise's Rob ThummelRob Thummel, Tortoise Ecofin senior portfolio manager, joins 'Squawk on the Street' to discuss rising energy oil prices due to the output cut extension, oil prices influencing energy investment decisions, and companies building carbon capture infrastructure.
Persons: Decarbonizing, Rob Thummel Rob Thummel, Tortoise
BMW CEO Oliver Zipse speaks during the presentation of the new BMW "New Class" during an event ahead of the IAA motor show in Munich. Europe's dominant position in the automotive sector was established over many decades through its capacity to build superior combustion engines. The German behemoth has already created automotive software company CARIAD, as well as partnering with Chinese EV startup Xpeng, joint venture partner SAIC and autonomous driving company Horizon Robotics. watch nowHe added that Volkswagen has established "huge cost initiatives" and sees big opportunities to scale up its EV production while reducing battery production costs by 50%. Our electricity costs compared to China or North America are too high," Skoda CEO Klaus Zellmer told CNBC on Monday.
Persons: Oliver Zipse, Christophe Périllat, Luca De Meo, Ampere, De Meo, CNBC's Annette Weisbach, Oliver Blume, " Blume, Blume, Klaus Zellmer, Joe Biden's, BEV, Zellmer Organizations: BMW, IAA, Getty, CNBC, Volkswagen, Renault, IAA Mobility, SAIC, Horizon Robotics, Volkswagen Group, CRU Group, Skoda Locations: Munich, China, Europe, North America, U.S, Canada, Spain, Germany
Goldman Sachs reiterates Amazon as buy Goldman Sachs said the e-commerce giant remains a top idea at the firm. Jefferies reiterates Cava as buy Jefferies said it's sticking with its buy rating on shares of Cava after the Mediterranean restaurant's earnings report Tuesday. Jefferies reiterates Roblox as buy Jefferies said it's standing by its buy rating on Roblox but that it's lowering its price target to $38 per share from $50. "We reiterate our Buy rating on sequential improvement in product offerings and sales volume." Wedbush reiterates Dick's as outperform Wedbush said it's bullish on shares of Dick's heading into earnings next week.
Persons: Tesla, Bernstein, DINO, MGY, Goldman Sachs, Jefferies, Cava, Roblox, it's, Bud Light, Beer, KeyBanc, FTNT, Dr Pepper, Wells, Wells Fargo, Marqeta, Nio, Wedbush, Morgan Stanley, Getty Organizations: Street, Barclays, Mizuho, Chevron, North American, Citi downgrades, Citi, Deutsche Bank, Anheuser, Busch InBev, Nvidia, Network, Palo, UBS, GE HealthCare, Bank of America, Corp, News Corp, Getty Locations: MTDR, eCommerce, Cava, Singapore
Check out the companies making headlines in midday trading. Banks — Major Wall Street banks slid during midday trading after CNBC reported Tuesday that Fitch Ratings may once again downgrade the health of the banking sector. Shares of Bank of America and JPMorgan Chase slid 2%, while Citigroup and Morgan Stanley each fell more than 1%. Paramount Global — Paramount Global shares climbed 2% in midday trading. Turnstone Biologics — The biotechnology stock added 1.96% in midday trading.
Persons: Banks, Fitch, JPMorgan Chase, Morgan Stanley, Roger Hochschild, John Owen, Hannon Armstrong, Hannon Armstrong Sustainable Infrastructure Capital — Hannon Armstrong, Homebuilders, Warren Buffett's Berkshire, D.R, Horton, Lennar, Wells Fargo, Baird, Turnstone, Piper Sandler, , Alex Harring, Jesse Pound, Tanaya Macheel, Pia Singh, Samantha Subin Organizations: CNBC, Bank of America, JPMorgan, Citigroup, Citizens Financial Group, U.S . Steel, Esmark, U.S, Steel, Discover Financial, Hannon Armstrong Sustainable Infrastructure Capital, Hannon Armstrong Sustainable Infrastructure Capital — Hannon Armstrong Sustainable Infrastructure Capital, Paramount Global, The Alliance, Motion Pictures, Television Producers, Bloomberg, Warren Buffett's Berkshire Hathaway, Nvidia, UBS, Investment Locations: Cleveland, Warren Buffett's
Check out the companies making headlines in premarket trading. Discover Financial Services — Shares slipped 6.5% after CEO Roger Hochschild resigned. Turnstone Biologics — Stock in the biotechnology company slipped 2.3% in premarket trading. Earlier on Tuesday, investment firm Piper Sandler initiated coverage of the stock with an overweight rating. Hannon Armstrong Sustainable Infrastructure Capital — The renewable energy investment firm climbed 2.1% after Bank of America upgraded shares to buy.
Persons: Roger Hochschild, John Owen, Turnstone, Piper Sandler, Horton —, Warren, Berkshire Hathaway, Horton, Hannon Armstrong, Phillips, Morgan Stanley, JPMorgan, Fitch, Wells Fargo, Baird, Steel, , Alex Harring, Jesse Pound Organizations: Nvidia Corporation, Discover Financial, Bank of America, Hannon Armstrong Sustainable Infrastructure Capital, Banks, JPMorgan Chase, Citigroup, CNBC, Nvidia, UBS Locations: Taipei, Taiwan, The Texas, Cleveland
U.S. Treasury Secretary Janet Yellen speaks during a press conference at the U.S. embassy in Beijing, China, July 9, 2023. Yellen said China's slowing growth, Russia's war in Ukraine and climate change could still pose risks to the U.S. economy and did not rule out a recession, but she felt upbeat. "I feel very good about U.S. prospects overall," Yellen told reporters, noting that inflation and the unemployment rate had both dropped below 4%, and that the U.S. economy was continuing to expand. "These are real Americans back at work – able to put food on the table, support their families, and save for retirement." Reporting by Andrea Shalal in Las Vegas; Editing by Diane Craft, Matthew Lewis and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.
Persons: Janet Yellen, Thomas Peter, Joe Biden's, Yellen, Biden, Andrea Shalal, Diane Craft, Matthew Lewis, Sonali Paul Organizations: Treasury, U.S, REUTERS, Thomas, Thomas Peter Companies Ipsos, LAS, International Brotherhood of Electrical Workers, National Conference of State Legislators, Workers, International Energy Agency, Thomson Locations: Beijing, China, Nevada, Vegas, United States, Ukraine, U.S, Las Vegas
GOP-controlled states like Oklahoma are seeing major economic investment in clean energy industries. A solar power exec told The New York Times the "financial opportunity" is drawing people in. But as The Heritage Foundation pushes back against renewables, clean energy companies and projects are leading the way in Republican-led states. About two-thirds of new clean energy investment is in Republican states such as Oklahoma, Texas, and South Dakota, the Times reported. Peters, president of Solar Power of Oklahoma, told the Times, "but most people are doing this for the financial opportunity."
Persons: Trump, Entergy, J.W, Peters Organizations: New York Times, The Heritage Foundation, Service, Republican, The New York Times, Heritage Foundation, Times, US Steel, American Clean Power Association, Solar Power Locations: Oklahoma, Oklahoma , Texas, South Dakota, Arkansas, , Texas
That is by far the most ever spent on clean energy in a year. Solar and Wind Power Have Taken Off Electricity generation per year, in terawatt hours China 600 TWh 500 Solar Wind U.S. China 400 E.U. It would shred regulations designed to curb greenhouse gases, dismantle nearly every federal clean energy program and boost the production of fossil fuels. 1 2 3 4 5 Even Tulsa, with its strong links to oil and gas, is embracing clean energy. “But we also understand that energy is energy, whether it is generated by wind, steam or whatever it might be.”Around the country, clean energy is taking root in unlikely locales.
Persons: , Fatih Birol, Al Gore, Crews, Francis Energy, Dewey, Bartlett Jr, , J.W, Peters, Mr, Lazard, Gregory Nemet, , Biden, Tesla, Giovanni Bertolino, Jon Creyts, Steve Uerling’s, Uerling, Cathy Zoi, It’s, Mary Barra, , Barra Organizations: Buses, Port, International Energy Agency, India India, Energy, The New York Times, Heritage Foundation, Republican, Ford, University of Tulsa’s School of Petroleum Engineering, “ Oil, Drillers, Navistar, Public Service Company of Oklahoma, Francis, Solar Power, U.S . Steel, Gas, University of Wisconsin -, Panasonic, United, European Union, United States ’, General Motors, RMI, Ford Fusion, Tesla, Postal Service, Amazon, Peterbilt, Companies, Francis Energy, BMW Group, Honda, Hyundai, Kia, Benz Group Locations: Pittsburgh, Milwaukee, Port of Los Angeles, Houston, Europe, United States, America, China, Britain, terawatt, India, U.S, States, Beijing, London, Tokyo, Washington, Oslo, Dubai, Tulsa, Okla, Italian, Oklahoma, Oklahoma City, Texas, Galveston, In Arkansas, Republican, University of Wisconsin - Madison, Georgia, Korean, Nevada, tailpipes, California, New York, San Francisco, Canada, South Korea, Russia, Ukraine, Steve Uerling’s Tulsa, E.U, G.M
Opinion | Climate Is Now a Culture War Issue
  + stars: | 2023-08-07 | by ( Paul Krugman | ) www.nytimes.com   time to read: +2 min
if Republicans do take the White House, has a lot to do with the way science in general and climate science in particular have become a front in the culture war. About attitudes toward science: As recently as the mid-2000s, Republicans and Democrats had similar levels of trust in the scientific community. Does anyone seriously doubt that similar attitudes are driving rank-and-file Republicans to oppose action on climate change? The fact that the climate war is now part of the culture war worries me, a lot. Special interests can do a great deal of damage, but they can be bought off or counterbalanced with other special interests.
Persons: there’s, David Brooks, Organizations: Democrats
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