With economies recovering from the pandemic, and tensions between Russia and the United States pushing oil prices higher than they already were, shale drillers are taking another look at basins they had abandoned when the pandemic hit. Collin Eaton reports for The Wall Street Journal: Spurred by the highest oil prices in years, shale companies are moving drilling rigs back into oil fields that were all but abandoned a few years ago. Private oil producers are leading an industry return to places like the Anadarko Basin of Oklahoma and the DJ Basin in Colorado, where drilling had almost … [Read more...]
FEAR: Gold Prices Surge on Potential Russia-Ukraine War
As tension in Ukraine hits extreme levels, investors are heading for the safety they see in gold. Suzanne O'Halloran reports for Fox Business that gold prices have spiked to a nine-month high in response to the risk of war. She writes: Nervous investors, spooked by a Russian-Ukraine conflict, barreled into gold on Thursday, driving the price to a level not seen since June of 2021: $1,900.70 and upward momentum may continue, aiding the SPDR Gold ETF. "Gold has key resistance around the $1920 to $1930 zone, but if the [safe] haven bid remains strong, bullish momentum could support a move … [Read more...]
SIMPLISTIC AND MISLEADING: Obama Official Calls Out Joe Biden’s Economic Assessment
Steven Rattner, a former economic counselor to the Obama administration, best known as the "car czar," for his role in handling the bankruptcies of GM and Chrysler, has slammed Joe Biden's recent economic assessment as "simplistic and misleading." The Daily Caller reports: Former Obama administration economic official Steven Rattner pushed back on President Joe Biden’s explanation of the causes of the inflation crisis in an op-ed Thursday for The New York Times, blaming the federal government’s enthusiastic spending. Referring to an interview with NBC’s Lester Holt, in which the president … [Read more...]
Orders for Manufacturing Tech Hit All-Time High
Last year, orders for manufacturing technologies hit a new record, according to the Association for Manufacturing Technology. In 2021, manufacturers purchased an all-time high of $5.9 billion worth of manufacturing technology. Industry Week reports: According to AMT, the later half of the year in particular saw orders increase dramatically. August through December 2021, the association reported, saw a streak of orders breaking $500 million each month, the first such five-month streak on the agency’s records. In total, the $5.9 billion spent on manufacturing technology in 2021 was more $2 … [Read more...]
Elon Musk Has Been Vocal About Freedom, But Is Still Putting a Tesla Design Center in China
The amount of pro-freedom messaging coming from Elon Musk's Twitter feed lately has been a welcome sight, but his decision to put a Tesla design center in Beijing makes his position puzzling. Yang Jie discusses Tesla's plans in The Wall Street Journal, writing: Tesla Inc. TSLA +4.35% is placing a design center in China’s capital, according to a Beijing government document. The electric-car maker had said it would build a design-and-engineering center to develop China-designed vehicles for the global market, but hadn’t said where the center would be. A list of key projects in the Beijing … [Read more...]
New MIT Super Material Could Revolutionize Industries
MIT scientists have developed a new super material that is both stronger than steel and as light as plastic. Study Finds reports: Scientists at MIT have developed a material that is as light as plastic — but stronger than steel. They believe the material could revolutionize the car, mobile phone and building industries. The easily manufactured substance – up to six times more difficult to break than bulletproof glass – is the result of an engineering feat previously thought to be impossible. It is a two-dimensional polymer that self-assembles into sheets, unlike all other polymers, which … [Read more...]
NEARSHORING WAVE: American Companies Flee “High Risk” China
American companies are recognizing the ever increasing risks of doing business in China, and adjusting their future plans. Chuck Dobrosielski explains the near shoring trend and what it means in Sourcing Journal, writing: After countless years of rumblings and promises, the long-heralded rise in nearshoring appears to finally be here. In a McKinsey & Co. survey of 38 chief procurement officers at clothing companies, 71 percent said they plan to increase their nearshoring share, including 13 percent who expect to do so by more than 10 percentage points. Twenty-four percent plan to … [Read more...]
An End to the Car Shortage?
For the last two years, Americans driving by car dealerships-traditionally bloated with inventory-have seen bare parking lots and empty showrooms. The shortage of silicon chips, an element crucial to modern-day vehicle production, has created a shortage of vehicles across the world. Now, there are signs the vehicle shortage may be abating. Stephen Wilmot reports for The Wall Street Journal: Getting your hands on a new car should become easier this year. The big question for both consumers and investors is at what price. The most surprising projection made by General Motors GM -0.74% when … [Read more...]
Global Famine Could Follow Potential Russia-Ukraine War
Both Russia and Ukraine are among the top seven wheat-producing countries in the world. Despite being vast, much of Russia's wheat-producing farmland is near Ukraine. A war between the two nations could disrupt the planting, growth, and harvesting of a major portion of the world's wheat production. The potential for such a war could is already having effects on the market for grains. Will Horner and Kirk Maltais report in The Wall Street Journal: The threat of war between Russia and Ukraine is rattling international grain markets, driving wheat prices higher on both sides of the Atlantic and … [Read more...]
Caterpillar Has Trouble Meeting High Demand
Caterpillar would like to sell more machines to the customers filling its order book, but can't because of supply-chain challenges and a shortage of semiconductors. Austen Hufford reports in The Wall Street Journal: Strong construction activity in the U.S. drove demand for Caterpillar Inc., CAT -0.95% though the equipment maker said it faced higher costs and a bulging order backlog. Caterpillar said Friday that it continues to have trouble obtaining enough electronics, semiconductors and other parts to make hydraulic shovels and asphalt pavers. The company’s backlog for the quarter ended … [Read more...]
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