Europe Energy Crisis Years in the Making With Reactionary Environmental policy

What comes to mind with the current European energy crisis is the unexpected consequences of decision making without thought of possible headwinds. The current crisis has been borne out of what could best be described as ignorant energy and environmental policies. Putting the cart before the horse the issue with populist kneejerk policy.

Energy Prices Pressure US Consumer Inflation Rate To Over 2 Year High

US March CPI +2.6% annual inflation rate, slightly higher than expected +2.5%, up from 1.7% in February but the highest reading since August of 2018 with main upward pressure coming from energy +13.2% vs 3.7% in February including gasoline +22.5% vs 1.6% prior.

BHP Writes Down Australian Thermal Coal Mine $1.6 Billion

BHP continues to write down it’s fossil fuel assets cutting up to $1.6 billion from the value of its Mt Arthur thermal coal mine in the Hunter Valley. BHP sold its U.S. shale assets to Britain’s oil major BP for $10.5 billion in 2018 selling off “non-core and we are actively pursuing options to exit these assets for value”.

BHP Huge Profit and Record Dividend But Warns on Higher Costs And Global Uncertainty

Australian mining giant BHP Billiton’s June quarter earnings saw huge leaps in revenue but lagged behind forecasts. $BLT announced a record dividend however cautioned on higher cost pressures and macroeconomic uncertainties.

Commodities Get Boost From China’s Xiongan New Economic Zone

Over the past few weeks we have seen aggressive buying and new highs in the metals, in particular base metals Zinc, Lead and Nickel. The bringing forward of China’s Xiongan New Area.