Total buys LNG assets from Engle. From Bloomberg via Rigzone, data points:
- in today's energy market, size matters
- billion-dollar deal
- after Royal Dutch Shell bought BG Group last year, Wood Mackenzie said biggest energy companies with access to large volumes of diverse supplies will continue to dominate
- superchilled gas market, currently at $90 billion in trade, will double by 2040
- LNG market will be supported by surging demand from Pakistan to China
- emerging markets will use LNG rather than burning dirtier coal
- currently the biggest buyers: Japan, South Korea, and China
- with Total's acquisition of Engle, Total will double output, quadruple trading volumes, and control as much as 10 percent of the market by 2020
New England spot electricity price - wholesale - hit $150/Mwh this morning ... quadruple the price in the PJM region. Currently running $100 with the afternoon ramp up in demand just getting underway.
OIL (!) provided 6% of the juice.I can only assume faux environmentalists have aggravated the problem by delaying natural gas pipelines; they must prefer burning oil. I wonder why solar / wind can't pick up the slack? For those interested, the link is here: https://www.iso-ne.com/isoexpress/web/charts.
Flashback. GE's purchase of Alstom was hailed as the deal of the century back on December 4, 2015. Fast forward: one more GE debacle. Jim Cramer hailed it as a great deal, now he's 24/7 with his mea culpa. It's my understanding that the current CEO of GE, John Flannery was responsible for the deal. The Peter Principle in effect.
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Notes To The Granddaughters
I don't see this often. At least, not often enough.
Of the five issues listed below, I have holdings in three of them. Whoo-hoo.
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