Semafor Net Zero: One Good Text
After winning a $20 billion contract with Google, Intersect Power wants to “create a whole new class of real estate.”
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Gone are the days when oil gurus agreed “$100 is the new $20”, or intoned that “the age of easy oil is over.” But it is not just prices that entered a prolonged decline, so too did OPEC’s image as market-shaping institution. Since then OPEC has seemed in terminal decline. But, argues Antoine Halff in the Financial Times, it is too early to announce OPEC’s death.
Calls to "Drill, baby drill" are back with Donald Trump's return to the White House, and for US natural gas production, the catchphrase might also be a necessity over the next three years if demand for the fuel grows as steeply as expected.
China’s demand for oil, long an important driver of global oil demand growth, slowed dramatically during January–September 2024.
The US Federal Reserve (Fed) commenced its monetary easing cycle on Wednesday with an aggressive 50 basis points policy rate cut.