web analytics

Daily review 17/10/2022

Written By: - Date published: 5:30 pm, October 17th, 2022 - 20 comments
Categories: Daily review - Tags:

Daily review is also your post.

This provides Standardistas the opportunity to review events of the day.

The usual rules of good behaviour apply (see the Policy).

Don’t forget to be kind to each other …

20 comments on “Daily review 17/10/2022 ”

  1. Poission 1

    Sweden energy changes have been brought about,by large failures in the German energy policy,which has brought instability to the European (and global) energy markets when exposed to an exogenous shock that was clearly signalled.

    The price spikes and margin calls in the energy sector has seen the price destruction of substantive investments in Companies such as Uniper due to the intergrated pricing on the interconnected grid.The creative destruction of investments in Uniper has seen Finland,Sweden and Norway (wealth funds) take large hits due to the nationalisation by Germany.

    The large subsidy for energy prices or Germany announced (200b e) has disrupted the European (Mostly vikings) electricity market.Norway being outside the EU limits its electricity price to domestic consumers at 7e.

    There was also some requirement for change to interpretation of net zero to meet US lenders rules ie minimal carbon production.

    • Ad 1.1

      Scandi pro nuclear while German Greens struggle with retaining any nuclear generation at all is a fascinating contrast.

      But I struggle to have sympathy for Swedish or Norwegian pension funds.

    • pat 1.2

      One could say Uniper shareholders were fortunate the German gov bought them out

      • Poission 1.2.1

        Nah they could have used force majeure on the contracts,but were prohibited from the Germans from doing it.

        The German/Netherlands initiative for a cap on gas prices within the EU comes in today with a one market pricing regime,China announces ban on re xport of LNG shipments from China on opening bell.

        • pat 1.2.1.1

          How much re export have china been doing to date?

          • Poission 1.2.1.1.1

            Plenty,getting good pricing on the arbitrage buying out of Australia,Qatar on contract pricing reselling on spot.Also gets half price Russian LNG to balance the difference (although demand is well down due to Covid zero).

            • pat 1.2.1.1.1.1

              Seems pretty negligible. …78 billion euro on gas imports to EU early part of this year…and a whole few hundred million USD from China to date this year

              • Poission

                The ship redirects as the contract transfers,(big shortage of ships) so a contract ex qatar may go to europe instead of china,with australian shipment going to japan or korea instead of china.

  2. Incognito 2

    Somebody has been firing up the propaganda machine and stirring up negative emotions! Cui bono?

    https://www.rnz.co.nz/national/programmes/mediawatch/audio/2018862546/heated-emissions-from-media-on-gas-charging-plan

  3. joe90 3

    Scientists have transplanted human brain cells into the brains of baby rats to study human brain development and disease. Don't they know that these things never end well.

    https://nbc24.com/news/offbeat/scientists-grow-human-brain-cells-in-rats-to-study-diseases-autism-schizophrenia-organs-mystery-organoids-memory-thinking-learning-reasoning-emotions-cerebral-cortex-behavior

  4. arkie 4

    The environmental cost of producing bitcoin places the digital asset alongside some of the world’s most environmentally unfriendly industries, according to a new study

    Between 2016 and 2021, the average climate damages of each bitcoin mined stood at 35% of its market value, the researchers estimated, rising to nearly 60% between 2020 and 2021.

    The researchers said the numbers place bitcoin, which is often described as a “digital gold,” much closer to environmentally unfriendly industries like beef production (33%), producing gasoline from crude oil (41%) and using natural gas to generate electricity (46%).

    https://www.forbes.com/sites/roberthart/2022/09/29/bitcoins-environmental-damage-is-on-par-with-beef-natural-gas-and-oil-study-suggests/

    Feeding, transporting people and powering their lives are all industries which we can improve in many ways but these digital commodities provide people nothing and are doing real environmental damage in the process.

    The profit motive is not incentivising long term thinking, to put it mildly.

  5. Poission 5

    Out of UK,

    BOE confirms end of intervention in high end gilt market (long bonds) after buyers strike on bonds as a result of Mini Budget.The 7 sigma deviation at the long end is now down to 2.5 std deviations.The BOE had also confirmed a large increase in the Nov monetary review and markets are now pricing in 1%,as conditions soften.They will also restart QT at end of month.

    The Chancellor this morning in emergency announcement pulled on big boy pants and has confirmed all tax cuts are now off the table for the foreseeable future,and he has lessened the energy support from 2 years to April 2023,ending after winter.

    bond prices retreat as investors return,pound appreciates and the US$ retreats across a number of countries.

    Europe gas policy announced said it would be dynamic and imparted little other detail as it was to be communicated in reverse esperanto,which none of the publicists or NSA code breaking computers could decipher,confirming the foremost problem with Europe is sophistry.

  6. Smell ya later Sharma. DARVO doesn't work if you have no credibility in the first place. 🙄

Recent Comments

Recent Posts

  • Poroporoaki: Titewhai Te Huia Hinewhare Harawira
    Ka papā te whatitiri, Hikohiko ana te uira, wāhi rua mai ana rā runga mai o Huruiki maunga Kua hinga te māreikura o te Nota, a Titewhai Harawira Nā reira, e te kahurangi, takoto, e moe Ka mōwai koa a Whakapara, kua uhia te Tai Tokerau e te kapua pōuri ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Enhanced Task Force Green Approved following Cyclone Hale
    Carmel Sepuloni, Minister for Social Development and Employment, has activated Enhanced Taskforce Green (ETFG) in response to flooding and damaged caused by Cyclone Hale in the Tairāwhiti region. Up to $500,000 will be made available to employ job seekers to support the clean-up. We are still investigating whether other parts ...
    BeehiveBy beehive.govt.nz
    3 days ago
  • General Election to be held on 14 October 2023
    The 2023 General Election will be held on Saturday 14 October 2023, Prime Minister Jacinda Ardern announced today. “Announcing the election date early in the year provides New Zealanders with certainty and has become the practice of this Government and the previous one, and I believe is best practice,” Jacinda ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Prime Minister Jacinda Ardern announces resignation
    Jacinda Ardern has announced she will step down as Prime Minister and Leader of the Labour Party. Her resignation will take effect on the appointment of a new Prime Minister. A caucus vote to elect a new Party Leader will occur in 3 days’ time on Sunday the 22nd of ...
    BeehiveBy beehive.govt.nz
    1 week ago
  • Trade and Agriculture Minister to attend World Economic Forum and Global Forum for Food and Agricult...
    The Government is maintaining its strong trade focus in 2023 with Trade and Agriculture Minister Damien O’Connor visiting Europe this week to discuss the role of agricultural trade in climate change and food security, WTO reform and New Zealand agricultural innovation. Damien O’Connor will travel tomorrow to Switzerland to attend the ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Government funding relief for flood-affected Wairarapa farmers and growers
    The Government has extended its medium-scale classification of Cyclone Hale to the Wairarapa after assessing storm damage to the eastern coastline of the region. “We’re making up to $80,000 available to the East Coast Rural Support Trust to help farmers and growers recover from the significant damage in the region,” ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Government provides support to flooded Tairāwhiti communities
    The Government is making an initial contribution of $150,000 to the Mayoral Relief Fund to help communities in Tairāwhiti following ex-Tropical Cyclone Hale, Minister for Emergency Management Kieran McAnulty announced. “While Cyclone Hale has caused widespread heavy rain, flooding and high winds across many parts of the North Island, Tairāwhiti ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Government support for flood-affected Gisborne Tairāwhiti farmers and growers
    Rural Communities Minister Damien O’Connor has classified this week’s Cyclone Hale that caused significant flood damage across the Tairāwhiti/Gisborne District as a medium-scale adverse event, unlocking Government support for farmers and growers. “We’re making up to $100,000 available to help coordinate efforts as farmers and growers recover from the heavy ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Monkeypox vaccination available to eligible people from next week 
    A vaccine for people at risk of mpox (Monkeypox) will be available if prescribed by a medical practitioner to people who meet eligibility criteria from Monday 16 January, says Associate Minister of Health Dr Ayesha Verrall.   5,000 vials of the vaccine have been obtained, enough for up to 20,000 ...
    BeehiveBy beehive.govt.nz
    3 weeks ago