NewsRoom Articles - Page 154 of 215

FridayMay 13, 2022 2:24 pm

Oil Rig Installation Surges in the US as Fuel Prices Rise

Earlier this week, energy companies in the United States added more natural gas and oil rigs amid rising prices of fuel. Last week, the gas and oil rig count had risen to 703, which is the highest figure recorded since March 2020. The number of gas rigs in America rose to reach 146, which makes this new figure the highest since September 2019. On the other hand, the number of oil rigs rose to 557, which represents the highest figures since March 2020. This data was released in a report by Baker Hughes, an energy services firm. Baker Hughes stated…

ThursdayMay 12, 2022 1:50 pm

Volkswagen Revisits Plan to Stop Using Coal Due to Ukraine War

Last week, the CEO of Volkswagen stated in an interview that the automotive company would continue to use coal to power its manufacturing plant, given the ongoing tension between Europe and Russia. Herbert Diess, the auto-manufacturing company’s CEO, added that the firm planned to convert its coal-fired power plants into gas. Volkswagen’s manufacturing facility in Wolfsburg covers an area of 6.5 million m2 and uses cogeneration plants that provide it with power and heat. Volkswagen’s plans involved replacing its boilers, which use coal with steam and gas turbine units, in an effort to reduce carbon dioxide emissions. However, global events…

WednesdayMay 11, 2022 11:47 am

Swiss Researchers Develop New Technique That Maintains Gold’s Structure

Researchers have developed a new annealing technique that can maintain silver and gold’s structure when these metals are combined in alloys. Annealing is the process of heating a glass or metal and allowing it to slowly cool in an effort to toughen it and remove internal stresses. Silver, gold, aluminum and copper are elements used in manufacturing optical components due to their reflective properties. For instance, silver and gold are known to reflect blue light and red light respectively. For the study, the team of researchers, which was led by Olivier Martin, focused on the development of a low-temperature annealing…

TuesdayMay 10, 2022 3:33 pm

Nuclear Organization Calls for Increased Domestic Production of Nuclear Energy

The Nuclear Innovation Alliance believes that an increase in the domestic production of nuclear energy in America will help the country achieve 100% clean energy by 2050. The organization believes that this increase is achievable, which is why it’s urging the Department of Energy to launch an advanced nuclear energy program under its Energy Earthshots Initiative. The Energy Earthshots Initiative was launched last year to speed up breakthroughs of more reliable, affordable and abundant clean-energy solutions in the decade. There are about eight Energy Earthshots planned under this initiative, including the carbon negative shot and the long duration shot. The…

MondayMay 09, 2022 1:42 pm

Report Finds That Coal Plants May Prevent Achievement of Climate Targets

A new report from Global Energy Monitor has found that even after the decrease in the number of coal-fired power plants under development globally, too much coal is still being burned for the planet to stay within safe limits of temperature. Prior to the coronavirus pandemic, the use of coal appeared to be declining. However, economic upheaval and lockdowns imposed in different parts of the globe facilitated an increase in new coal projects, especially in China. Since the onset of the pandemic, China has used more coal-generated electricity than the rest of the world combined. In 2021, the total power…

FridayMay 06, 2022 12:07 pm

Investment in Gold Is Surging

The investment demand for gold is increasing as investors flock back to gold, which is driving the metal’s price even higher. The precious metal’s current performance began in 2015 when the Fed initiated its rate-hike cycle. During the years since, gold has gained significantly, with its best gain extending to 96% in August 2020. Weakening stock markets also bolster investment demand for gold by boosting its use in the diversification of portfolios. This is because the precious metal rallies during stock-market selloffs, making it a good portfolio stabilizer. Investment buys then accelerate the upside momentum of gold, which helps attract…

ThursdayMay 05, 2022 2:12 pm

Nonprofits Call on EU to Pass Battery Metal Regulations on Responsible Mineral Sourcing

Last week, a coalition of not-for-profit organizations released a statement on proposed battery regulations that require manufacturers and importers to responsibly source the minerals used within batteries. The coalition is comprised of Transport & Environment, Amnesty International, SOMO, Earthworks, RAID, PowerShift, INKOTA, Inclusive Development International, Human Rights Watch, Germanwatch, Finnwatch, Setem Catalunya, Centre d'Aide juridico-judiciaire (Democratic Republic of Congo) and Collectif des organisations de la Société Civile pour la défense des droits des communautés. These regulations would establish compulsory requirements for every battery being sold in the European Union’s market, including industrial, electric car, automotive and portable batteries. The parameters…

WednesdayMay 04, 2022 3:32 pm

Uranium Still Lures Investors Despite SEC Turning Down Sprott’s Listing Application

Uranium is an essential commodity needed as the world transitions from the use of fossil fuels. Despite this need, the U.S. Securities Exchange Commission (SEC) rejected an application made by the Sprott Physical Uranium Trust that would have allowed the trust to become the first fund to trade on the exchanges in the United States. The SEC stated that a failure to meet listing standards led to this rejection. A statement released by Sprott indicates challenges, including the nature of the physical uranium market and the trust’s structure. While a failed listing is usually cause for concern, analysts, investors and…

TuesdayMay 03, 2022 3:30 pm

Ongoing Uncertainty Cements Gold’s Safe Haven Role Over Crypto

As inflation continues to rise, it is becoming increasingly evident that precious metals such as gold are a better hedge against inflation in comparison to cryptocurrencies. The price of gold is up almost 5%, going at about $1,900 per ounce. Meanwhile, the price of Bitcoin has dropped by more than 15% this year, with other cryptocurrencies such as dogecoin, solana and ethereum also declining sharply. In a recently released report, Swissquote analyst Ipek Ozkardeskaya stated that cryptocurrencies traded parallel to risk assets, instead of as safe havens, noting that cryptocurrencies were more of crypto-proxies for Nasdaq. Crypto prices have continued…

MondayMay 02, 2022 2:16 pm

Demand Concerns May Affect Copper’s Rally

The price of copper fell below its $10,000 per ton level at the start of last week on the London Metal Exchange for the first time in weeks. The metal’s risk equilibrium seems to be shifting as funds begin raising bear bets on the CME copper contract. However, supply concerns are still increasing following protests at a pair of big copper mines in Peru. These protests knocked out one-fifth of Peru’s production capacity before the country’s government declared a state of emergency to reclaim control of the Cuajone mine. Over the last few weeks, managers of funds have increased bearish…

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