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Australian cops arrest 3 at climate demonstration at coal port
Australian cops stated they apprehended three climate change activists on Saturday when protesters tried to interrupt the movement of vessels at the country's most significant coal port. Object organiser Rising Tide stated hundreds of activists remained in the harbour near the Port of Newcastle, as part of a. 50-hour blockade that began on Friday. New South Wales state cops said in a declaration that two. men and a lady were arrested after being removed from the water. at the Port of Newcastle on Saturday afternoon. Rising Tide stated in a declaration authorities made arrests after. protesters paddled on kayaks past cops lines. Climate change is a divisive issue in Australia, the world's. second-biggest exporter of thermal coal and the largest exporter. of coking coal. Newcastle, some 170 km (105 miles) north of Sydney, is the. largest bulk shipping port on Australia's east coast and the. nation's largest terminal for coal exports. A Port of Newcastle representative said there was no impact to. vessel movements due to the demonstration. A similar demonstration in. November last year disrupted port operations.
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Ukraine steps up air defence advancement in response to Russian rocket implementation, Zelenskiy states
President Volodymyr Zelenskiy stated on Friday that Ukraine was dealing with establishing brand-new types of air defence to counter brand-new threats following Russia's release of a new mediumrange rocket in the 33month war. Zelenskiy, in his nighttime video address, stated testing a brand-new weapon for purposes of terror in another country was an worldwide criminal activity and provided a brand-new call for a world-wide severe response to keep Russia from broadening the war. On my behalf, the Minister of Defence of Ukraine is currently holding meetings with our partners concerning brand-new air defence systems efficient in protecting lives from new dangers, Zelenskiy said. When somebody starts utilizing other countries not just for terror, however likewise for evaluating their brand-new missiles through acts of horror, then this is clearly a worldwide crime. He stated the world required to come up with a major reaction so that (Russian President Vladimir) Putin will truly be afraid to expand the war and feels the real consequences of his actions. Zelenskiy gotten in touch with Ukrainians to be vigilant in the face of ongoing Russian attacks. There is no other way in war, he stated. We need to be mindful that 'associate' Putin will keep trying to intimidate us. That is how he developed all his power.
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In Mali, at least seven Russian mercenaries were killed
Site Intelligence Group said that at least seven mercenaries of the Wagner private military contractor group from Russia were killed in a central Mali attack, which was claimed by a group affiliated with al Qaeda North Africa. Wagner suffered heavy losses during a battle in July with mainly Tuareg rebels, and Islamists at the border of Mali with Algeria. This battle exposed the dangers that mercenaries who work for military juntas face in West Africa’s Sahel Region. Mali, Burkina Faso, and Niger struggle to contain powerful Islamic State and Al Qaeda offshoots that have occupied large swathes in the Sahel region over the last 12 years. SITE Intelligence Group, which monitors extremist activity in the region said in a press release that al Qaeda affiliate JNIM had claimed responsibility for Thursday's attack. SITE reported that JNIM had killed seven Russian Wagner mercenaries, and also seized weapons. The video shown by showed the bodies of at minimum five white men dressed in army fatigues, lying around a vehicle after an attack. The authenticity of the video could not be verified. The photos shared by SITE Intelligence, purportedly taken from JNIM, showed dead soldiers with blood on their bodies and several boxes of ammunition and arms. No one could be reached to comment on the army of Mali. Two local administrators confirmed that the attack took place. A Malian army officer said he had seen seven bodies, including Russian fighters. One of them claimed that five Wagner fighters had been killed. According to a consultant who works on security in the area, the attack was carried by Katiba-Macina, an offshoot of JNIM. At least six Russians were killed. The consultant claimed that the Russians were Africa Corps soldiers, referring to the paramilitary Kremlin force which has replaced Wagner's forces in Africa during the last year. Mali previously stated that Russian forces in the country are not mercenaries, but rather trainers who help local troops with equipment purchased from Russia. Reporting by Tiemoko Diallo, Abdollah A. Ag. Mohamed, and Portia Crowe; Additional reporting in Cairo by Yomna ehab; Writing by Anait Miridzhanian; Editing by Bate F. Felix, Sofia Christensen, and Angus MacSwan
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US energy infrastructure firms to record record profits as AI power demand soars
Investors are betting on the long-term growth of energy-guzzling technologies like generative AI to fuel demand. They also hedge against the volatility in commodity markets. Alerian Midstream Energy Index (which tracks North American major pipeline and storage companies) is up 46% in this year, after reaching a record high last March. Comparatively, the S&P 500 index has gained nearly 25% during the same time period. Kinder Morgan, Targa Resources and Williams Co are on course for their best years in the last two decades. Kenny Zhu is a research analyst for Global X ETFs in New York, a provider of exchange traded funds. The fixed-fee structure of energy infrastructure firms shields them against the volatile oil and gas price fluctuations, while also benefiting from the surge in U.S. production. Experts say that small investors are also attracted by dividends and buybacks, which result from stable cash flow. Artificial intelligence's explosive growth and the data center's insatiable need to run these power-hungry apps has boosted the appeal of this segment. Rob Thummel is a senior portfolio manager with asset management company Tortoise. He said, "There is no artificial intelligence without the energy infrastructure. AI needs power 24 hours per day, 7 days per week." In the second half of this decade, pipeline demand will be further increased by several liquefied gas export projects. In the U.S. however, it is difficult to build new large-scale pipes due to regulatory obstacles. Existing infrastructure becomes even more valuable. If you already have pipelines, you are in a good position because they will become even more valuable with the continued growth of demand, said Zack Van Everen.
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Italy frets over fate of porn star jailed in Egypt
The arrest of an ItalianEgyptian pornographic star in Cairo is raising concern amongst officials in Italy, where feelings are still running high over the unsettled killing of trainee Giulio Regeni who was jailed and eliminated in Egypt eight years back. Elanain Sherif, 44, known by his phase name of Sheri Taliani, was gotten at Cairo airport on Nov. 9 and taken to prison with no official explanation, his legal representative stated on Friday, confirming reports in Italian papers. Online publication of porn is unlawful in Egypt, and Sherif's legal representative, Alessandro Russo, told Reuters this might have been the reason for the arrest, though he had gotten no notice from the Egyptian authorities. The Egyptian foreign ministry did not instantly react to a request for a remark. Italian Foreign Minister Antonio Tajani stated the government and Italy's embassy in Cairo were following the case with the utmost attention. Sherif was moved from a Cairo jail to another penitentiary near Alexandria a few days after his arrest and has not been become aware of because, the legal representative said, including that the last individual known to have seen him was his mother, the day after he was apprehended. Sherif was born in Egypt but resides in Italy and holds both Egyptian and Italian passports. Russo stated he was trying to contact an Egyptian attorney appointed by Sherif's mother, who had accompanied him to Egypt. From Italy we can only attempt to verify that Elanain Sherif is being treated well, the Egyptian lawyer will take care of the case there, he said. It's clear that we are believing with concern about the cases of Giulio Regeni and Patrick Zaki. Italy has actually charged 4 Egyptian security agents with kidnapping and eliminating Regeni, a postgraduate trainee at Britain's Cambridge University, in Cairo in 2016. Egyptian police detained him because they believed he was a. British spy, according to Italian district attorneys, while Egypt. blamed the killing on a group of gangsters after initially. recommending he had died in a roadway accident or in a sex attack. Zaki, an Egyptian researcher who had been studying in Italy,. was arrested during a journey home to Egypt in 2020. In 2015 he. gotten a pardon from the Egyptian president a day after he was. handed a three-year jail term on charges of spreading false. news.
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Czechs not aiming to extend waiver for Russian-based oil items
The Czech Republic is not wanting to extend an EU exemption permitting it to import diesel and other products made from Russian oil, its industry and trade ministry said on Friday, taking a position that might end such imports from neighbouring Slovakia. The European Union prohibited most oil imports from Russia after the nation's major invasion of Ukraine in 2022. But the Czech Republic, Slovakia and Hungary are utilizing an exemption to sanctions since of a lack of other supply. A waiver also permits the Czechs to import Russian oil-based improved products, which come generally from Slovnaft, a Slovakian unit of Hungarian oil and gas group MOL. But that ends on Dec. 5, and the Czechs are not seeking an extension, the ministry said. In the context of the present situation and steps that Czechia is requiring to protect independence from imports of oil from Russia, the Czech Republic does not see a reason why the exemption ought to be extended, the ministry informed Reuters. The Czech Republic has actually been upgrading a pipeline from Italy to Germany to transfer more oil that method and wean itself totally off Russian crude by the 2nd half of 2025. Slovakia, on the other hand, does not prepare to end Russian oil supply quickly. It is also seeking the derogation enabling item shipments to the Czech Republic be extended, Slovak Foreign Minister Juraj Blanar has actually stated. The Slovak ministry on Friday declined to comment beyond what Blanar has actually previously stated. The Czech position does not dismiss an extension, as there might be additional talks amongst parties consisting of Poland, whose Orlen owns the Czech Republic's only 2 refineries, 2 Czech federal government sources stated. One source said one option might be an extension till June 2025, when the Czechs anticipate to end their own purchases of Russian crude. A unanimity of EU members is needed to extend the waiver. The 2 sources said the Czech Republic might replace any reduction in Slovnaft fuel products by rail from other sources. Slovnaft has also been raising its proportion of non-Russian crude. Its annual report stated it processed 0.82 million tonnes of non-Russian crude in 2023, 15% of the overall.
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Bomb team sent out to London's Gatwick Airport as terminal left
British authorities sent out a bomb disposal group to London's Gatwick Airport after a thought forbidden item was discovered in baggage, authorities said on Friday, following the earlier evacuation of a passenger terminal. Gatwick, Britain's second busiest airport which is located about 30 miles south of London, stated earlier it had actually left a. large part of its South terminal, mentioning a security event. The occurrence disrupted weekend itinerary for countless. passengers, with more than 600 flights due to land or remove. on Friday from Gatwick, totaling up to more than 121,000 guest. seats, according to information from aviation analytics firm Cirium. Sussex Police, the local force, said a security cordon would. stay in location while the matter is dealt with. Cops were contacted us to the South Terminal at Gatwick Airport. at 8.20 am on Friday following the discovery of a thought. forbidden product in travel luggage, it said in a declaration. As a safety measure, an EOD (Explosive Ordnance Disposal) group. is being deployed to the airport. Airport authorities said on X that passengers were being. stayed out of the structure while the incident was ongoing, while. cops stated there was significant traffic interruption in the area. and advised individuals to prevent it. In videos posted online, thousands of travelers can be seen. outside the terminal and the surrounding location. Emergency foil. blankets were distributed to some of the passengers to assist. shield themselves from the cold, social media photos revealed. In a separate incident previously on Friday, London police. carried out a regulated explosion near the U.S. embassy in. south London after discovering a suspect bundle. Police later. stated they believed it was a scam.
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Asian area LNG gains amidst cooler weather condition, more powerful Europe gas costs
Asian spot melted gas (LNG) rates increased today to their greatest level of the year so far, tracking gains in European gas and amidst colder temperatures in both regions. The average LNG rate for January shipment into northeast Asia rose to $14.60 per million British thermal systems ( mmBtu), market sources estimated. Today's more escalations in between Russia and Ukraine have returned a high danger premium to European gas and by default Asia's JKM market, regardless of actual gas products being continuous, said Florence Schmit, energy strategist at Rabobank London, of the Asian Japan-Korea-Marker benchmark. European benchmark gas costs at the Dutch TTF hub have been trading at 1 year highs on issues over Russian gas supply and as cold temperatures reduced gas stockpiles. Russia's Gazprom last weekend halted gas supplies to Austrian gas importer OMV in a dispute over payments, while Russia's war with Ukraine heightened. While the danger of Europe losing more Russian gas has lifted the TTF consistently above the JKM market for the very first time considering that end-2022, the spread remains narrow and might reverse to a JKM premium in the short-term if Russian circulations continue and the circumstance stabilises, added Schmit. However provided the accumulation of fighting today we might equally see the TTF maintain its premium over the JKM for a while as Europe scrambles to import LNG freights. In either case, markets will be higher for longer. A minimum of 5 LNG cargoes have actually diverted from Asia to Europe on greater gas prices after Gazprom halted products to OMV. However northeast Asian delivered markets have risen in competition with Europe, with a minimum of one diverted provider appearing to have changed back to head for Asia again, said Samuel Good, head of LNG prices at product rates agency Argus. In Japan, while lower temperatures have actually just recently resulted in greater gas usage and power prices, nuclear restarts could decrease dependence on gas-fired power generation and ease LNG need, stated Rystad Energy in a note. It included that the Japan Meteorological Firm still projections a 50-60% likelihood of above-average temperatures till Nov. 29. On The Other Hand, S&P Global Commodity Insights assessed its day-to-day North West Europe LNG Marker (NWM) price standard for freights delivered in January on an ex-ship (DES) basis at $14.800/ mmBtu. on Nov. 21, a $0.25/ mmBtu discount rate to the January gas rate at. the Dutch TTF center. Argus examined the price at $14.790/ mmBtu, while Spark. Commodities examined the December shipment cost at. $ 14.635/ mmBtu. The U.S. arbitrage, diverting a physical cargo from one. market to another, is signalling prompt month U.S. cargoes are. incentivised for a ninth straight week to trip to Northwest. Europe, said Glow Commodities analyst Qasim Afghan. Nevertheless, it is much more minimal than recently due to. a significant week on week increase in the JKM-TTF spread, as. well as record low freight rates in the Atlantic basin, he. added. In LNG freight, Atlantic rates fell to $15,500/ day on. Friday, erasing gains made in the last two weeks, Afghan. stated. Pacific rates decreased to $23,000/ day.
Trump dislikes Biden's climate law. His allies are generating income from it
Donald Trump has actually guaranteed to gut U.S. President Joe Biden's. environment aids if elected. However much of Trump's allies are. taking advantage of them thanks to huge investments in solar power,. electrical lorries, carbon sequestration, hydrogen and other. clean energy technologies.
Reuters found at least 7 of Trump's close allies and. charity events, or the companies they run, hold hundreds of countless. dollars-worth of stakes in companies that are significant. beneficiaries of the tax breaks embedded in the Inflation. Reduction Act, Biden's signature climate law.
They include Trump's son-in-law Jared Kushner; his former. ambassador to China and continued ally Terry Branstad; and. companies run by informal energy advisor and oil magnate Harold. Hamm and powerful booster Howard Lutnick.
Big oil companies like Occidental Petroleum and. Energy Transfer, whose CEOs hosted a May fundraising event in. Houston for Trump's campaign with Hamm, likewise hold major. investments in projects that may just be feasible if Biden's tidy. energy tax credits make it through.
And Tesla, whose creator and CEO Elon Musk has actually been. improving Trump's campaign, is likewise benefiting massively from the. IRA's EV and solar credits.
Together, these individuals and business hold billions of. dollars in investments that receive the individual retirement account's financially rewarding tax. credits and stand to lose big if Trump is able to follow through. on his promise to gut Biden's climate law, according to Reuters. reporting.
The financial investments are very important due to the fact that they raise the. likelihood some of Trump's allies may ask him to maintain. elements of Biden's climate law if he wins the November election. against Democratic Vice President Kamala Harris. That would include. influential voices to some of the trade groups and legislators. that have actually currently stood up in favor of specific IRA subsidies.
None of individuals or business recognized were. willing to comment for this story on whether they would. intervene to preserve parts of the individual retirement account.
For the time being, Trump's intentions are clear.
My plan will end the Green New Offer, which I call the. Green New Rip-off, and rescind all unspent funds under the misnamed. Inflation Reduction Act, Trump stated when he unveiled elements. of his economic policy platform in a speech in September.
Trump Campaign Senior Advisor Brian Hughes told Reuters a. broad rollback of the IRA stays a leading concern if he wins the. Nov. 5 election, arguing the package has actually contributed to. inflation and broadened the deficit.
Rescinding any part of the individual retirement account would require an act of. Congress.
A group of 18 Republican legislators representing districts. that have drawn IRA-linked financial investments sent a letter to Home. Speaker Mike Johnson in August prompting him against withdrawing all. of the IRA if the party wins control of your home and Senate.
The White Home stated the individual retirement account produced more than 330,000 tasks. and that gutting it would hurt financial investments made in Republican. states.
By some price quotes, more of this investment is taking place in. red and purple states, White Home representative Angelo. Hernandez stated.
The Biden administration has actually currently worked to provide the. large bulk of IRA grants, however the law's tax credits are set. to continue for many years.
Other financiers and business involved in tidy energy. tasks are hopeful that Trump's campaign rhetoric gives way to. usefulness, must he win in November.
Innovators and energy companies we deal with want policy. predictability. They are making numerous millions in. investments due to the fact that of the individual retirement account, said Jeremy Harrell, CEO of. Washington-based conservative clean energy organization. ClearPath.
Frank Wolak, president of the Fuel Cell & & Hydrogen Energy. Association, stated it will be necessary for Congress to safeguard. the tax credits if Trump wins the election.
We're going to simply do some hard informing on the individual retirement account to. our congressional allies, he stated.
ALLIES WITH IRA ADVANTAGES
- MOSAIC
Trump's son-in-law and previous governmental advisor. Kushner's private equity fund Affinity Partners in 2022 invested. $ 200 million in Mosaic, a California-based supplier of financing. for solar energy and home performance enhancements, according to. financial investment information supplier PitchBook.
Established in 2011 as a crowdfunding startup, the business got a. increase from the individual retirement account's 30% tax credit for property solar, as. well as its customer rewards for photovoltaic panels, electrical heat. pumps and other efficiencies by raising consumer interest for. its clean energy loans.
- TOP CARBON SOLUTIONS
Oil tycoon Harold Hamm has actually long been an energy adviser and. political financier for Republican political leaders, consisting of Trump,. and in May hosted a Houston fundraiser for Trump's third. presidential project.
His company Continental Resources in 2022 made a $250. million strategic investment into Top Carbon Solutions, a. carbon capture and sequestration (CCS) project that will capture. CO2 from ethanol plants and other commercial sources in the. Midwest.
That project relies on the 45Q tax credit for numerous types. of CCS, which the individual retirement account increased greatly across the board.
Though the project was proposed before the individual retirement account was checked in. 2022, the enhanced tax credits could yield a $2.9 billion. windfall for Summit's financiers, according to Jake Schwitzer,. director of policy group North Star Policy Action.
Previous Iowa Governor Terry Branstad, who acted as Trump's. ambassador to China and stays a staunch ally, is Top's. primary policy consultant.
- TESLA
Tesla is a huge recipient of IRA tax credits. The. electrical lorry and solar business called the plan a. substantial increase towards accelerating our objective soon. after it passed into law in 2022, in spite of CEO Musk's public. hostility toward aids.
- OCCIDENTAL PETROLEUM
In addition to co-hosting the Texas fundraising event for Trump in. May, Occidental CEO Vicki Hollub went to a separate charity event. comprised of energy executives at Trump's Mar-a-Lago estate in. April. These events generated tens of millions for Trump's. campaign.
Occidental is a recipient of the 45Q carbon capture tax. credit and is a recipient of an Energy Department grant of. nearly $1 billion to construct a direct air capture (DAC) hub to. show that nascent innovation at scale. The company has. touted its technique to market so-called net-zero barrels of. oil.
In May, Hollub stated in a statement to Reuters: I have actually been. speaking with policymakers on both sides of the aisle, and will. continue to talk with them, to express our support for 45Q,. because it will help establish innovations like direct air. capture which eliminate carbon dioxide emissions from the. atmosphere and safeguard America's energy security.
- ENERGY TRANSFER
Energy Transfer's CEO Kelcy Warren is a long-time supporter. of Trump. The pipeline operator also takes part in projects. supported by IRA tax credits, including two organized Louisiana. CCS hubs, and a hydrogen hub in Texas that just recently won just. over $1 billion in Energy Department funding.
- CANTOR FITZGERALD
Trump's transition team co-chair Howard Lutnick is the. CEO of Cantor Fitzgerald, a major monetary services company that. has actually made substantial investments in business that benefit from. the individual retirement account.
As shift co-chair, Lutnick is playing an essential role in the. search for top-level appointees to staff a possible Trump. administration, and he has actually likewise functioned as a high-dollar. charity event for Trump.
Amongst the companies that Cantor Fitzgerald has invested in. that have benefited considerably from the individual retirement account are Invenergy, a. renewable energy company that is the top constituent of the Cantor. Fitzgerald Facilities Fund.
The infrastructure fund has over $150 million in total web. possessions, according to a July news release, and its financial investment in. Invenergy consists of 14.65% of that fund's overall investments.
The fund is likewise heavily invested in NextEra Energy,. the biggest U.S. renewable resource designer.
Both companies have praised the IRA as practical to their. businesses.
Cantor Fitzgerald has over $13 billion in possessions under. management and offers a broad selection of financial services.
(source: Reuters)