🔹 USA - 🇺🇸 Projection of EV growth raises concerns over the increasing strain on power grids being ill-equipped to shoulder the load. The ASCE says the inability of the US to maintain its many power lines will cost 130 billion.

🔹FERC reports that the Texas grid since Feb. 2021's catastrophic Winter ❄️ Storm Uri remains nearly just as vulnerable.

🔹 23% of the currently operating coal-fired 🏭 capacity has announced plans to retire by 2029.

🔹Between wind, solar, & natural gas tech., natural gas received the least 📉U.S. investment in 2020, making up 13% of total investment across all energy sources ($6.1 billion).

Recent posts on the US power grid:

💠 Utility co.’s face delays & high costs 📈 for transformers.

💠 A surge in decommissioning fossil fuel power plants 🏭 has outpaced new generation capacity.

💠 Utilities are warning of supply constraints for equipment.

💠 Increased EV 🚗 use leading to demand strain on grid sectors.

💠 GE plans to make major job cuts in its U.S. wind operations.

🔹Brazilian 🇧🇷 authorities are clearing blockades set up across the country by truckers 🚚 to protest President Jair Bolsonaro's narrow loss to Luiz Inacio Lula da Silva. Protesters were blocking highways partially or fully in 146 locations this evening, down from around 190 last night.

🔹Police 🚓 said 688 roadblocks had been cleared across the country. Bolsonaro has not conceded defeat but has authorized his chief of staff to begin the transition process.

🔹Shouts of "Federal intervention now" & banners stating "Armed Forces save our Brazil", are observed as demonstrators question the elections result. VP Mourao does not agree with the argument that the elections were manipulated. Lula, won with 50.9% of the vote, to Bolsonaro’s 49.1%.

🔹Some question why the US 🇺🇸 would go from being hostile to a Lula gov't to ostensibly supporting it. Maybe due to Lula not campaigning on any platform to revolutionize 🇧🇷 Brazilian society?

Video compilation: Sourced from various Telegram channels.

🔹Pakistan's 🇵🇰 former PM, Imran Khan, has been shot & wounded in the leg after an assassination attempt during a protest march in Wazirabad. Six others were also injured. One of Khan’s supporters died. Protests 🔥 are increasing at the moment into the night.

🔹He was leading the march on the capital Islamabad to demand snap elections after he was ousted in a no-confidence vote back in April. There has been vast number of massive protests across Pakistan 🇵🇰in the past months in support of former PM Khan.

🔹It is alleged that the US & other foreign state actors funded millions of dollars 💵 to opposition parties in Pakistan to secure the no-confidence vote of 174 in the 342-member house.

🔹Former PM Khan named the US 🇺🇸 as the foreign meddler, claiming to have evidence that a senior US official told Islamabad’s diplomats that relations with Pakistan 🇵🇰 would improve in Khan’s absence.

Video compilation: Sourced from various Telegram channels.

🔹 Russia 🇷🇺 resumes participation to the Black Sea grain deal only after Türkiye 🇹🇷, informed Russia that Ukraine had given assurances to refrain from using the corridor for military purposes.

🔹 Russia expressed concern about violations, where many of Ukraine's 🇺🇦 shipments were sent to rich European 🇪🇺 countries rather than struggling nations elsewhere in the world.

🔹 Turkish President Erdogan expressed Russia's plan to ship food to Djibouti 🇩🇯, Somalia 🇸🇴, & Sudan 🇸🇩.

🔹President Putin says Moscow reserves the right to withdraw from the grain 🌾 agreements if Kyiv violates it.

Previous developments to this story:

💠 Russia 🇷🇺 suspends grain deal after ships in the Black Sea were attacked by Ukraine.

💠 Grain deal hypocrisy by western countries, exposed.

💠 Chairman of the African Union visits Russia & asked President Putin for help with solution to food 🌾 crisis in Africa.

💠 Grain deal signed with safe routes 🚢 made in Black Sea. Previous deal was botched by Ukraine.

🔹USA - 🇺🇸 The surge in avian influenza (birdflu) at farms this year has led to the culling of more than 8 million turkeys, resulting in a short supply of 20 pound turkeys 🦃 for Thanksgiving.

🔹2 days ago a commercial farm with 1.1 million chickens in Wright County, Iowa, detected bird-flu and culled all the birds 🐓. Over 47 million birds have died or euthanised across 42 🇺🇸 states in 2022.

🔹Spain 🇪🇸 - Two poultry farm workers tested positive for bird flu following an outbreak in poultry, the 1st known human infections in Spain & the 2nd in Europe since 2003.

🔹UK 🇬🇧 - Various family run farms are culling birds due to bird flu outbreak.

Video courtesy WoodTV8 & GBNews.

Earlier bird flu posts on this channel:

💠 Millions of chickens euthanized to prevent spread of bird flu at US & UK farms.

💠 Death of seabirds in Canada 🇨🇦 linked to bird flu.

💠 US egg 🥚prices increase due to culling of hens across US.

💠 Quebec, Canada duck-farming 🦤 operation face financial ruin due to bird flu.

🔹Gold demand has soared 📈 by central banks that bought a record 399 tonnes of gold in Q3 2022.

🔹Iron ore demand falls amid China's steel mills production cuts in summer, 🇨🇳 pollution rules limiting operations & property market slowing.

🔹EV push creating a higher global demand for nickel. US 🇺🇸 need to streamline the mine-permitting process in order to cope. Nickel ore inventory up at China's ports.

🔹Global copper smelting declined 📉 in Oct. due to fears of a recession, weak demand & maintenance shutdowns.

🔹Concerns arise if Biden admin decides to ban Russian 🇷🇺 aluminium. The U.S. lacks existing smelter capacity, or primary production, to meet domestic demand.

🔹Jump in US 🇺🇸 crime rings stealing catalytic converters for rhodium, palladium & platinum.

🔹Indonesia 🇮🇩 plans to expand it's downstream industry for tin rather than exporting 🚢 it's supply.

🔹Rumors of a silver 🪙 short squeeze & COMEX unreported inventory shortages of physical metal.

Photo courtesy VisualCapitalist.

🔹The U.S. 🇺🇸 sold 15 million barrels of oil from the SPR to six companies, completing the last batch of the largest-ever release from the stockpile. Biden sold 180 million barrels of oil 🛢 from the reserve to fight oil prices.

🔹The sale bled the 📉 SPR, meant to be a protection against shocks in energy markets, to the lowest level since May 1984 and it helped to sour U.S. relations with Saudi Arabia 🇸🇦.

🔹Crude oil prices continue to correct upwards 📈 on fears over the G7 fixed price capping mechanism on Russian crude as full sanctions on Russian oil go into effect on December 5.

Last reported on this channel:

💠 Saudi Arabia's 🇸🇦 energy minister warns nations' that use emergency oil reserves to manipulate prices.

💠 Historical charts showing US SPR depletion 📉 & declining refinery capacity.

💠 OPEC+ defends their role in 🛢 oil market stability at JMMC of the OPEC+ group HQ 🇦🇹.

💠 US 🇺🇸 reviewing various options regarding its relationship with Saudi Arabia 🇸🇦 after OPEC+ cuts.

Video compilation on a recent developing trend:

Is the EU 🇪🇺 preparing the pretext to push Europe's public opinion towards fear of China's rise? If so, to what end goal?

🔹EU Commission President Ursula von der Leyen mentions threat of China's 🇨🇳 global share in rare earth elements.

🔹EU 🇪🇺 foreign policy chief Josep Borrell says China is not a partner but a competitor. (next stage is rival)

🔹Krišjānis Kariņš, the Latvian 🇱🇹 PM, declares China is best dealt with via the EU bloc not single nations. (Where is the nation-state sovereignty in the EU?)

🔹Estonia's 🇪🇪 PM Kaja Kallas, says it's important to treat China as a systemic rival.

🔹Yesterday, President Xi of China 🇨🇳 reminded German 🇩🇪 Chancellor Olaf Scholz of the importance of mutual respect, seeking common ground, reserving differences and bilateral co-operation as the way forward.

🔹Canada 🇨🇦 ordered three Chinese companies divest their investments in Canadian lithium & critical minerals, citing national security. China 🇨🇳 in response accused Ottawa of using national security as a pretext and said the divestment order broke international commerce and market rules.

🔹 One of the concerns in the lithium market is that the extreme supply shortages create a risk that prices rise so high 📈, or metal becomes so difficult to access, that automakers have to stop buying. While the world needs more & more lithium, investment in new supply has not kept pace with rising demand.

Previous lithium posts on this channel:

💠Report on the vast resources needed to be mined for an EV 🚙 vehicle which is clearly unsustainable.

💠 Lithium carbonate, hit a new record high in China 🇨🇳 during September.

💠 Lithium mining pollution and the growing scarcity.

💠 Zimbabwe 🇿🇼 lithium reserves & China investment.

🔹"Europe 🇪🇺 May See Forced De-Industrialization": by OilPrice.com. High energy costs & increasingly tighter EU regulation (such as its new "import carbon tax") are main factors.

🔹The euro zone manufacturing PMI (Purchasing Managers' Index) fell to 46.6 from 48.4, its lowest 📉 since May 2020.

🔹 EU increased pig iron imports from Russia 🇷🇺 by 2.5 times y/y in 2Q 2022. EU steel plants depend on imported iron ore, pig iron and steel semi-finished products.

Warnings of Europe's de-industrialization, reported on this channel.

💠 BASF 🇩🇪, the world's largest chemical producer announces cost saving plans & “permanent” downsizing in Europe.

💠 Steel 🏭 manufacturers shut down across Europe.

💠Europe has lost about half of its zinc & aluminum smelting capacity.

💠 Ammonia fertilizer & chemical 🏭 plants shut down across Europe (October post).

💠 Fertilizer industries shutting down in 🇪🇺 Europe for the month of Sept. & August.

💠 Companies operating for over 100 years shut down in Germany 🇩🇪

🔹"November's Eurostat Report for Sept. 2022".
Industrial producer prices up by 41.9% in the euro area & by 41.4% in the EU 🇪🇺compared with September 2021.

🔹The highest monthly increases in industrial producer prices were recorded in Bulgaria 🇧🇬 (+9.2%), Slovakia 🇸🇰(+8.9%) and Italy 🇮🇹 (+3.5%).

🔹Industrial producer prices in the euro area (EA-19 💶) & EU (EU-27🇪🇺) respectively in Sept. '22, y/y, increased by:

📌Energy Sector - 108.2% & 105.3%,

📌Intermediate Goods - 19.0% & 19.1%,

📌Non-durable Consumer Goods - 15.2% & 16.5%,

📌Durable Consumer Goods - 9.8% & 10.1%,

📌Capital Goods - 7.6% & 7.9%.

USA 🇺🇸- 🔹Diesel inventories are at the lowest seasonal level ever, heading into winter. Since diesel ⛽️ fuel is similar to heating oil, (as a distillate) the demand will skyrocket as the northern hemisphere enters the winter months.

🔹The supply issues are being caused partly due to the embargo on Russian 🇷🇺 oil & refining capacity in the U.S. has dropped over the past few years.

🔹Diesel producers 🏭 are trying to catch-up to reach a normal supply of between 35 & 40 days (25 days presently).

Video - Early reports diesel supply issues in the US , sourced from social media.

Last reported on this channel:

💠 US 🇺🇸- Logistics & fuel supply co., Mansfield Energy, says there is a shortage of diesel in Southeastern US.

💠 American oil refiners 🏭 are enjoying the best-ever diesel margins/profits.

💠 Saudi Arabia's 🇸🇦 energy minister warns nations' that use emergency oil reserves to manipulate prices.

💠 Historical charts showing US SPR depletion 📉 & declining refinery capacity.

🔹French utility 💡 EDF said that it had lowered its nuclear output target 📉 for 2022 to 275-285 TWh from 280-300 TWh previously due to the impact of strikes on its reactor maintenance schedule & extended maintenance outages of four reactors affected by corrosion.

🔹Several US 🇺🇸 funds are pushing France to lift its €10bn buyout offer to minority shareholders of EDF as pressure mounts from investors (holding several hundred million euros worth of EDF shares) unhappy with the terms of the nationalisation.

🔹 "France 🇫🇷 swung from being one of Europe's 🇪🇺 largest exporters of electricity to a net importer because of issues with its reactors.

Last reported on this channel:

💠France's EDF is rushing to get nuclear power stations 🏭 online. 20 of 56 offline due to strikes & corrosion issues. (Last reported 6 of 12 with corrosion issues being repaired).

💠The French 🇫🇷 gov't to fully nationalize the EDF. which runs a 29 billion Euro loss.

🔹Russian 🇷🇺 nuclear fuel ☢️ transferred through Finland 🇫🇮 to Slovakia 🇸🇰, 2 days ago, which is not subject to EU 🇪🇺 sanctions. Slovakia will cap energy prices for companies in Q1 2023 to ease the impact of soaring electricity bills, with the state covering 80% of costs above set levels.

🔹 Investigation is still ongoing of cracks recently discovered in feedwater pumps at Finland's 🇫🇮 Olkiluoto 3 (OL3) nuclear reactor, making it impossible to set a date for resumption of test production. This does not directly affect electricity export to Estonia.

🔹 China’s 🇨🇳 nuclear corporation CNNC has entered into 8 agreements with Russia's Rosatom & others valued at $572 mln.

Video courtesy Firstpost YouTube Channel.

Last reported on this channel:

💠 Hungary 🇭🇺 & Bulgaria 🇧🇬 were the most vocal in opposing sanctions on Russian uranium. There are 18 Russian nuclear reactors in Europe.

💠 Russia's 🇷🇺 Rosatom & Hungary, 🇭🇺 discuss licenses for the Paks-2 nuclear power plant construction 🏗.

💠 How the sanction avoidance process works for Russia's 🇷🇺 Lukoil & it's ongoing saga with Italy.

🔹US 🇺🇸 sanctions are on crude oil, not refined products.

🔹Lukoil, Russia's 2nd largest oil & gas co. was not sanctioned by the US, & has a refinery in Sicily, (2nd largest in Italy 🇮🇹& 5th largest in Europe).

🔹The refinery's 🏭 inputs are 93% from Russia. After refining, the country of origin is Italy, not Russia.

🔹The refined product then makes its way to the US ⛽️.

💠 Russia’s Lukoil has turned down an offer to sell its Italian refinery to US 🇺🇸 private equity, Crossbridge Energy Partners.

💠 If a buyer is not found, the refinery will close, because it will not be able to receive Russian crude after the EU's Russian oil embargo by sea 🚢 starts on December 5th.

💠 The Italian 🇮🇹 gov't intends to scrutinise any sale of the refinery to prevent Italian job cuts & the loss of fuel production. Seizure & nationalization of the refinery is the last remaining option.

Video courtesy the WSJ

🔹India's 🇮🇳 External Affairs Minister, S. Jaishankar & diplomatic delegation completes their 2 day visit to Russia. He claims "The world is moving toward greater multipolarity, through steady and continuous rebalancing,..".

🔹Despite western sanctions, trade 🚢 turnover between Russia & India may total $30 bln by the end of 2022. Russia 🇷🇺 & India are working on the joint & efficient use of the Northern Sea Route & it's offshore hydrocarbon fields.

🔹Minister Jaishankar also said "We are, naturally, concerned over the trade imbalance, and I have raised with the Russian side how to address the impediments that stand in the way of greater Indian exports,".

🔹Both countries have agreed to negotiate the criteria and principles of reviewing potential expansion of BRICS. The parties also discussed the situation in Afghanistan 🇦🇫, Iran 🇮🇷, the Middle East, the Asia-Pacific Region and Ukraine 🇺🇦.

🔹American 🇺🇸 company Nvidia announced an alternative chip with a slower transfer rate (Nvidia A800 GPU) so it does not fall under US export restrictions to China 🇨🇳. The Nvidia A100 GPU (banned for export to China) has a faster transfer rate by 200 gigabytes per second.

🔹Germany 🇩🇪 plans to block the sale of Elmos' chip factory to Swedish🇸🇪 Silex ( subsidiary of Chinese 🇨🇳 group Sai Microelectronics), citing national security.

🔹Video: South Korea 🇰🇷 asks US to resolve uncertainties created by the US's 🇺🇸 chip export ban on China.

Semiconductor posts reported on this channel:

💠 The 🇺🇸 Biden admin plans further export controls to clamp down on China’s access to semiconductors.

💠TSMC 🇹🇼 complies with US regs. & suspended production of advanced silicon for China's Biren Tech.

💠 US bans exports 🚢 to China of equipment for 14nm chips.

💠South Korea 🇰🇷 attempts to assure China 🇨🇳 on supply chain amid US pressure.

💠 US 🇺🇸 share of semiconductor R&D has dropped drastically.

The de-industrialisation of Germany - Part 2.

🔹🇩🇪- Traditional bakery, Thilmann Brot GmbH, founded in 1937, Rhineland-Palatinate branch, has filed for bankruptcy. Cites high energy/raw material prices for operating ovens.

🔹🇩🇪 Department store chain Galeria Karstadt Kaufhof, with 131 branches, declare insolvency. Online retailer Buero.de eyes takeover. (Video)

🔹🇩🇪 Furniture co., Hülsta-Werke Hüls GmbH, after 82 years in operation is insolvent.

🔹🇦🇹 Austrian manufacturer of cable pulls, GA Actuation Systems GmbH, part of German 🇩🇪 holding co. Accursia Capital declares bankruptcy after loss of sales & inability to pay employee pensions.

Last reported on this channel:

💠 Co.'s operating for over 100 years shut down in Germany.

💠 BASF 🇩🇪, the world's largest chemical co. announces “permanent” downsizing in Europe.

💠 Steel manufacturers shut down across Europe.

💠Europe loses 📉 50% of its zinc & aluminum smelting capacity.

💠 Ammonia fertilizer & chemical 🏭 plants shut down across Europe.

🔹Is Brazil 🇧🇷 on the brink of a revolution?

🔹There have been a lack of news on the scale of protests during the past 9 days, over alleged election fraud. President Bolsonaro lost to Lula da Silva, by 50.9% to 49.1%. Millions of Brazilians are vocally supporting President Bolonsaro.

🔹Yesterday, Brazil’s 🇧🇷 Defence Ministry reported that they did not find any fraud or inconsistency in electronic ballot boxes or in the 2022 electoral process. However, the report warns that "it is not possible to say that the electronic voting system is free from the influence of a possible malicious code... & recommends a technical investigation.

🔹Brazil's Supreme Court 🏛 makes it clear that questioning the election is anti-democratic & violent protestors will be treated as criminals. The indigenous peoples of Brazil have been showing up at protests.

🔹Solidarity protests have even spread to 🇺🇸 New York. Some Brazilians use satire reporting to get their message out.

🔹Hungary 🇭🇺 infuriates EU 🇪🇺 for blocking €18 billion of aid to Ukraine. EU diplomats accuse Hungary of blackmail.

🔹Hungary denied it’s holding up the NATO entry bids of Finland 🇫🇮 & Sweden 🇸🇪 as part of its fight over billions of euros in EU aid.

🔹Germany’s 🇩🇪 ruling parties are urging Chancellor Scholz to “thoroughly” scrutinize Hungary’s rule-of-law reforms & only support releasing billions of withheld EU money if Budapest can prove it’s a democracy.

🔹EU countries can suspend €7.5 billion in EU funds for Hungary 🇭🇺 under a rule-of-law conditionality. The EU 🇪🇺 has been holding back Hungary’s access to €5.8 billion in coronavirus recovery funds.

Last reported on this channel:

💠 EU 🇪🇺 declares Hungary is no longer a democracy.

💠 Hungary 🇭🇺 would not support a price cap on Russian gas.

💠Hungary has agreed with 🇷🇺 Gazprom to re-route gas transit.

💠Hungary 🇭🇺 & Serbia 🇷🇸 have agreed to build a connection to the 🇷🇺 Druzhba oil pipeline.

Video courtesy Newsmax

🔹🇩🇪 Germany's consumer prices, harmonised to compare with other European countries, were 11.6% higher year-on-year in October. On a non-harmonised basis, consumer price inflation was 10.4%, the highest 📈 since December 1951.

🔹Germany's Bundestag passes the Inflation Compensation Act, aimed at offsetting the effects of high inflation on income tax burden.

Previous posts on Germany's de-industrialisation:

💠 German co.'s operating for over 100 years shut down amidst a surge in bankruptcies.

💠 German utility Uniper, reported a 4.8 billion euros loss & faces nationalisation.

💠 Industrial producer prices up by 41.9% 📈 in the euro area & by 41.4% in the EU 🇪🇺compared with September 2021.

💠 BASF 🇩🇪, the world's largest chemical co. announces “permanent” downsizing in Europe.

💠 Steel manufacturers shut down across Europe.

💠Europe loses 📉 50% of its zinc & aluminum smelting capacity.

💠 Ammonia fertilizer & chemical 🏭 plants shut down across Europe.