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55,000 properties left without power

“More than 55,000 properties in Sydney and the central coast were without power after thunderstorms hit the New South Wales east coast” writes Australian Associated Press for theguardian.com. Emergency crews worked through the night to restore power and clear debris and the operation is expected to continue into Sunday morning.Torrential rain, damaging wind and hailstones the size of golf balls lashed Sydney and the Hunter region on Saturday afternoon, bringing down trees and taking out hundreds of power lines. Source: theguardian.com Share This:

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A Green New Deal would necessitate huge mining increase

“This makes it increasingly difficult “to meet a rapid increase in global demand with a comparable increase in global supply.”” reports washingtonexaminer.com. In addition, mining companies require long-term investment assurances to fund new mining and refining activities, according to the findings.Specifically, the demand for so-called “rare earth metals” like neodymium, terbium, dysprosium, and praseodymium stands out as a potential problem for moving to a global energy system dominated by renewables.Much of the planet’s rare earth metals come from China, making the U.S. particularly vulnerable to supply chain vulnerabilities, as the…

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Banks, Rival Markets Benefit From US-China Trade Spat

“The company plans to produce as much as half of its goods currently affected by China trade tariffs outside the market, according to reports” reports pymnts.com. With trade tensions continuing between the U.S. and China, analysts are finding a shift among global supply chains away from the Chinese market, to the benefit of markets that traditionally don’t see much trade volume.Steve Madden is one retailer that publicly announced its efforts to move its supply chain operations out of China. Source: pymnts.com Share This:

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New gangs bring more violence and ‘Uberisation’ to Europe’s cocaine industry

“The increasing supply of cocaine in Europe has coincided in the past few years with changes in traditional smuggling routes from Iberia to large ports in Belgium, France and Germany” reports theguardian.com. The port of Antwerp is now the single, biggest entry point for cocaine into Europe, with 41 tonnes seized in 2017.A surge in the supply of pure cocaine to Europe has led to a rise in drug-related murders as new criminal gangs muscle into a market previously dominated by the mafia, the EU drugs agency has said. The…

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$325 million Illinois wind farm to supply power to General Motors, Bloomberg 

“The wind industry added over 52 gigawatts (GW) of wind power in 2017, according to the Global Wind Energy Council” writes Anmar Frangoul for cnbc.com. Through power purchase agreements the facility, in Logan County, will sell power to Bloomberg LP, General Motors and Constellation, an Exelon business.China maintained its position as a wind energy powerhouse, installing 19.7 GW, while the European Union added 15.6 GW of capacity. Source: cnbc.com Share This:

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Cargill’s ‘Protect Our Planet’ plan to eliminate deforestation from the cocoa supply

“International food company Cargill has unveiled the Protect Our Planet action plan, that aims to eliminate deforestation from its cocoa supply, and a commitment of “no further conversion” of forest land to cocoa production in Ivory Coast and Ghana” writes Tonya Garcia for marketwatch.com. The effort will expand across Brazil Indonesia and Cameroon, and into the indirect cocoa supply chain.The broader Cargill company employs 155,000 people across 70 countries. Source: marketwatch.com Share This:

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News Oil 

IEA sees global oil supply tightening more quickly in 2019

“In its previous report in November, the IEA said it expected the global oil market to remain in surplus throughout 2019” writes Midwest Communications Inc for 95kqds.com. The OECD’s lower expectation for the world economy in 2019 could reduce oil demand growth by roughly 100,000 bpd,” the IEA said.”Some of the support provided by lower prices will be offset by weaker economic growth globally, and particularly in some emerging economies.”. Uncertainty over the global economy stemming from U.S.-China trade tensions could undermine oil consumption next year, as growth in supply…

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Oil prices gain on sign of U.S. inventory dip

“Crude prices continued to be supported by a supply outage in Libya” writes Rachel Koning Beals for marketwatch.com. On average, analysts surveyed by The Wall Street Journal expect the EIA to report a decline of 2.8 million barrels in crude supplies.Roughly 400,000 barrels a day of oil have come offline, according to analysts.The country’s national oil company has declared force majeure on exports from the El Sharara oil field following an attack by a militia group over the weekend. Source: marketwatch.com Share This:

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Aphria signs exclusive supply agreement to supply medical cannabis in Paraguay

“APHA, +8.90% APHA, +9.45% said Thursday it has signed a letter of intent for an exclusive supply agreement with Insumos Medicos SA to supply medical cannabis in Paraguay” writes Ciara Linnane for marketwatch.com. Paraguay will be the third Latin American market in which Aphria is active once the deal closes, after Argentina and Colombia.”Latin America continues to represent an important growth opportunity within the global medical cannabis industry, and we are excited to be among the first to enter the rapidly emerging market in Paraguay,” Aphria President Jakob Ripshtein said…

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