US precious metals complex hit by dollar surge, added longs
The precious metals complex swung lower on August 30, led by gold, as a stronger US dollar and speculative-investor trends weighed on gold prices.
Coal consumption by U.S. educational institutions has declined by 64% since 2008
(Tue, 30 Aug 2016) Coal consumption by educational institutions such as colleges and universities in the United States fell from 2 million short tons in 2008 to 700,000 short tons in 2015. Consumption declined in each of the 57 institutions that used coal in 2008, with 20 of these institutions no longer using coal at all. Many of these institutions participate in the American College and University Presidents Climate Commitment, a program aimed at reducing greenhouse gas emissions. Coal consumption has decreased as institutions switch from coal to natural gas or other fuels.
A Record Ride on New York’s Subway
Matthew Ahn has set a new record for the fastest time to travel to all New York City subway stations – 21 hours, 28 minutes and 14 seconds. We rode along with him for his record-breaking trip.
Compliance costs undermining the goal of the US Renewable Fuel Standard: Fuel for Thought
The system devised to force compliance with the US Renewable Fuel Standard appears to be backfiring, forcing refiners to spend more on buying increasingly expensive credits than actually blending renewables into the nation’s transportation fuel.
District of Columbia raises renewable portfolio standard target to 50% by 2032
(Mon, 29 Aug 2016) The District of Columbia (DC) increased and extended its renewable portfolio standard (RPS) target from 20% by 2020 to 50% by 2032. The target includes a separate solar-specific target of 5% by 2032, an increase and extension from 2.5% by 2023.
South Crofty: The tin mine that wouldn’t die?
An update from Cornwall caused barely a ripple in the global tin market, but it nevertheless represents a potential new instalment in a very old story stretching back over two millennia.
OPEC members' net oil export revenue in 2015 drops to lowest level since 2004
(Fri, 26 Aug 2016) Members of the Organization of the Petroleum Exporting Countries (OPEC) earned $404 billion in net oil export revenue in 2015, according to U.S. Energy Information Administration (EIA) estimates. These earnings represent a 46% decline from $753 billion earned in 2014. Although these net export earnings include Iran's revenues, the net export revenue is not adjusted for possible price discounts that Iran may have offered its customers between late 2011 and January 2016, when nuclear-related sanctions targeting Iran's oil sales were in place.
Outlook for U.S. Agricultural Trade: August 2016
The August 2016 quarterly USDA forecasts for agricultural trade in the United States in FY 2016 and 2017 are presented and discussed in this report.
Food Price Outlook
The Consumer Price Index (CPI) for food is probably the most widely used indicator of changes in retail food prices. ERS regularly updates food price forecasts for the short-term period.
Why marine credit managers are losing sleep
With shipping markets in the doldrums, Bunker Bulletin caught up with several marine fuel industry credit VIPs and asked them what keeps them up at night.