Europe just lost a big chunk of production from one of its most critical natural gas fields, and not for any of the usual reasons - technical problems, pipeline constraints, or terrorist disruptions. These cuts are due to earthquakes.
Mozambique has a broad swath of problems within its governing councils. Back in December of 2005, Management Systems International based out of Washington issued a report titled CORRUPTION ASSESSMENT: MOZAMBIQUE which said point blank: "The scale and scope of corruption in Mozambique are cause for alarm".
All customers, including homes, hospitals, oil refineries and airports are at risk of losing power at some point this summer because a majority of electric generating stations in California use gas as their primary fuel. In April, millions of electric customers in Southern California were warned they could suffer power outages on up to 14 days this summer due to the closure.
The war on Coal for Power Generation, the cutback in active Natural Gas Rigs, lower production growth, trending nature of natural gas, and changing weather patterns are going to drive Natural Gas prices much higher over the next two years.
Tuesday's overnight price action has been a continuation of yesterday's Brexit relief rally, as investors focused on the two latest polls favorable to Remain in Thursday's referendum (while ignoring the YouGov poll which gave Leave a small lead), and hoping the doom and gloom by George Soros will convince the undecideds to vote against Leaving. As a result, global stocks continued their advance while pound extending the biggest rally since 2008.
Despite the CIA’s report acknowledging it found no tangible connections between Mateen and the so-called Islamic state, the narrative concerning his ISIS ties saturated mainstream headlines for days, almost certainly cementing the link in the public’s mind. Disgruntled politicians eager to overthrow Assad - thus also carrying out Saudi goals - can now facilely flip the script to assert deposing the Syrian government is necessary in the fight against everyone’s enemy, the Islamic State..."Failure to stem Assad’s flagrant abuses will only bolster the ideological appeal of groups such as Daesh [ISIS, etc.], even as they endure tactical setbacks on the battlefield."
Ever since the discussions on how to address "manmade global warming" started to gain traction in the 1990s trillions of dollars have been spent on infrastructure, subsidies, R&D, regulations, trading schemes and even political organizations with the explicit intent of reducing greenhouse gas emissions. Alas, the world has changed considerably since the 1990s. Rather than diminishing, carbon emissions have actually increased by a great deal. Developing countries as a whole are now the #1 emitter. And many OECD (mostly developed) countries are trying to manage very difficult fiscal positions. In fact, the only thing that seems to have remained constant is the strategy on how to reduce emissions globally.
"After a quiet Jan/Feb, E&P bankruptcies picked up steam in late 1Q ahead of spring borrowing base redeterminations. By our math, about $30bn of par value debt has defaulted in the HY E&P space YTD, representing about a 17% default rate. On the back of our bottom up analysis we are now raising our full year default forecast to 21% from 17% previously."