Tag: economics

China growth to fall behind rest of Asia for first time since 1990

~ ABN ~ Leave a comment

China’s economic output will lag behind the rest of Asia for the first time since 1990, according to new World Bank forecasts that highlight the damage wrought by President Xi Jinping’s zero-Covid policies and the meltdown of the world’s biggest property market. The World Bank has revised down its forecast for gross domestic product growth in the world’s second-largest economy to 2.8 per cent, compared with 8.1 per cent last year, and from its prediction in April of between 4 and 5 per cent for this year. At the same time, expectations for the rest of east Asia and the Pacific have improved. The region, excluding China, is expected to grow 5.3 per cent in 2022, up from 2.6 per cent last year, thanks to high commodity prices and a rebound in domestic consumption after the coronavirus pandemic.

The World Bank has revised down its forecast for gross domestic product growth in the world’s second-largest economy to 2.8 per cent, compared with 8.1 per cent last year, and from its prediction in April of between 4 and 5 per cent for this year. At the same time, expectations for the rest of east Asia and the Pacific have improved. The region, excluding China, is expected to grow 5.3 per cent in 2022, up from 2.6 per cent last year, thanks to high commodity prices and a rebound in domestic consumption after the coronavirus pandemic.

At the same time, expectations for the rest of east Asia and the Pacific have improved. The region, excluding China, is expected to grow 5.3 per cent in 2022, up from 2.6 per cent last year, thanks to high commodity prices and a rebound in domestic consumption after the coronavirus pandemic.

link

Russia’s state-controlled energy company Gazprom to launch Kovykta gas field in December

~ ABN ~ Leave a comment

ACCORDING to the company’s Telegram channel on Monday, September 19, Russia’s Gazprom is getting ready to launch the Kovykta gas field in December 2022.

On Monday, September 19, at the operational meeting with the Chairman of PJSC Gazprom’s Management Board, it was announced that on “October 25 gas from the Kovykta field will be fed into the Kovykta-Chayanda trunk gas pipeline for pre-commissioning under load.”

The company added: “The field will be commissioned in the second half of December this year.

“The Kovykta field is a unique field, the largest in Eastern Siberia with recoverable reserves of 1.8 trillion cubic meters of gas and 65.7 mln tons of gas condensate.

“The launch of Kovykta significantly expands the resource base in the east of the country for supplying gas to Russian consumers and for export.

link

The Great Economic Pretending Yet Again Meets Main Street Reality

~ ABN ~ Leave a comment

The great economic pretending is predicated on denying that major western economies are shrinking because political leaders are collectively destroying cheap and reliable energy production (oil, coal, gas), while simultaneously chasing expensive and [un]sustainable energy development (wind, solar).

The Build Back Better / Green New Deal climate change agenda is destroying every economy based on ‘collectively agreed‘ energy policy.  Energy driven supply side inflation is crushing consumers in every western economy.  Sales and purchases of goods have stopped.  Affording food, fuel and housing is the focus of billions. Yet, denial is everywhere.

link

Legislation Within the Biden Green New Deal, Inflation Reduction Act, Has Created a Domestic Carbon Trading Platform

~ ABN ~ Leave a comment

Deep inside the legislative language of the falsely titled “inflation reduction act”, aka The Green New Deal legislative vehicle constructed by lobbyists and passed by congress, people are now starting to realize a carbon-trading system was created.

Ultimately, a carbon trading system has always been the holy grail of the people who run the western financial system and want to create mechanisms to control wealth by using the ‘climate change’ agenda.

A carbon trading system is a very lucrative financial transfer mechanism with a potential scale to dwarf the derivative, Wall Street betting, market.  Secondarily, such a market would cement the climate change energy policy making it very difficult to reverse.  The new creation as explained by the Wall Street Journal, holds similarities to the EPA ethanol program.

link

REVEALED: Devastating pictures of the rape of America’s century-old hardwood forests… stripped bare to provide wood pellets for European energy plants – in a deluded bid to meet climate goals

~ ABN ~ Leave a comment
  • Historic forests stretching from Texas to Virginia are under threat
  • More than two dozen pellet mills are devouring trees across the North American Coastal Plain
  • Wood pellet firm chiefs say they use waste wood, create jobs and benefit the U.S. southeast 
  • But really, majestic century-old trees are being logged, environmentalists say
  • The E.U. this week started cutting the subsidies that make the trade possible 
  • Campaigners say ‘loopholes’ will help pellet firms keep on ripping up the forests 
link

A Modest Nuclear Proposal: Operation Warp Speed II

~ ABN ~ Leave a comment

The correct policy option can only be a uniform, full stop, 100% nuclear energy coverage of the whole continent of Europe. And then the world.

Understand that today’s nuclear reactors are little like reactors of the past that produced tons of green goo that environmental regulators still haven’t figured out how to dispose of or hide. Chernobyl will never be repeated, unless the reactor is very old, or some region descends into violent warfare.

Today’s small nuclear power reactors achieve truly excellent risk-reward ratios that compete even with those technologies that were already categorized by European officials as green tech prior to the recent redefinition. There is hardly a drawback unless you consider the prospect of making Bill Gates even richer a drawback. And as luck would have it, the nuclear industry is already testing new products on animals (often referred to colloquially as “Asians“). Are we not now ready to leap to providing everyone with nuclear power?

…And the best part is that Operation Warp Speed II is legally a Green Energy Policy. This opens it up to direct funding by Alexandria Ocasio-Cortez for whom the economics of Green policy spending actually and necessarily works out via supranatural phenomena. The whole plan is so simple that mentally challenged European leaders like Macron and Merkel can have militarized police ensure success anywhere people aren’t cooperating. Heck, even Biden could probably pull it off.

link

Massive Increases in U.S Natural Gas Exports are Driving Up U.S. Energy Prices

~ ABN ~ Leave a comment

It is good to see at least one energy finance analyst at the Institute for Energy Economics and Financial Analysis, speaking commonsense.  In an article by Clark Williams-Derry for Barron Magazine [SEE HERE], the author accurately outlines how significant U.S. Liquified Natural Gas (LNG) exports are driving up prices for American consumers.

The author accurately refutes the notion that exports do not drive-up domestic prices, by walking through the example of how natural gas prices dropped for U.S. consumers when the liquefied natural gas plant in Quintana, Texas [Freeport LNG] was temporarily shut down, blocking a portion of the export capacity.  However, that facility is about to come back on-line and with increased exports from other facilities domestic U.S. prices have already doubled.

link