Baltic
Dry Index. 2729 unch. Brent Crude 83.29
Spot Gold 4345 Spot Silver 70.48
US 2 Year Yield 4.09 +0.04
US Federal Debt. 39.253 trillion
US GDP 32.214 trillion.
It's easier to be original and foolish than original and wise.
Gottfried Leibniz
5:30
AM Update. What’s Different? Who really won?
Donald
Trump settles for a truce of convenience with Iran
The
US president promised ‘unconditional surrender’, but the Islamic republic
survived with its leverage enhanced
15
June 2026
About
a week into the US war against Iran, Donald Trump pledged that there would be
no deal with Tehran except “unconditional surrender!”
More
than 100 days later, the US president is hailing a deal that underlines not only the Islamic republic’s
capacity to withstand American-Israeli bombing but its newfound leverage from
severely disrupting energy flows through the Strait of Hormuz.
US
officials say the agreement will not only reopen the strait but is also a
pathway to finally dismantling Iran’s nuclear programme — one of Trump’s
longstanding demands. But others say that while a deal to halt the war is
welcome, it pushes key issues further down the road and exposes the dilemma
Trump has been grappling with after more than 100 days of conflict.
“It’s
a very weak deal for the US considering what the stated objectives were at the
beginning,” said Dan Shapiro, a former senior US official. “It largely attempts
to reopen the strait, which had definitely become the most important issue. But
that just demonstrates how much leverage Iran had to persuade Trump that it was
better to end this war even on weak terms than to continue it.”
Both
sides ultimately wanted a deal. But Trump faced
increasingly difficult options to get an agreement over the line having been
encouraged to go to war by Israeli Prime Minister Benjamin Netanyahu, analysts
say.
If
the US escalated strikes as Trump had threatened, the Islamic regime — battered
but not defeated — would retaliate against America’s allies in the Gulf and
further exacerbate the energy crisis. If the status quo remained, the global
economy would be hit harder.
“We
were in a lose-lose dynamic, and if they had continued [with the war], the
alternative would be just worse for both sides,” said Ali Vaez at International
Crisis Group, a think-tank.
The
memorandum of understanding agreed by the US and Iran will extend a fragile
ceasefire, which was agreed on April 8, by 60 days. Iran will
gradually reopen the strait while clearing mines, without charging fees for
shipping for the duration of that period.
More
Donald Trump settles
for a truce of convenience with Iran
Oil
Executives Are Sounding the Alarm Over Dwindling Stockpiles
Even
if the Strait of Hormuz soon reopens, it would likely take months for the U.S.
to replenish its depleted oil inventories, keeping prices elevated
June
14, 2026 8:00 pm ET
President Trump’s
deal with Iran is set to reopen the Strait of Hormuz, but how quickly it can
arrest a steep decline in oil stockpiles will determine the trajectory of
energy prices in the coming weeks.
For
more than 15 weeks, the U.S. and other countries around the world have had to dip into oil tanks, salt caverns and
strategic reserves to make up for the millions of barrels of oil trapped behind
the strait. Now, the stocks are nearing critical levels, and energy executives
say without an influx of more oil, prices will have to surge to stop the run on
supplies.
Mike
Wirth, chief executive of Chevron CVX 0.75%increase; up
pointing triangle, has repeatedly warned on television that the supply crunch will soon manifest itself around the
world. Neil Chapman, the No. 2 at Exxon Mobil XOM 0.28%increase; up
pointing triangle, has said the U.S. is approaching “unheard-of inventory
levels.” Other executives, such as Wil VanLoh, of Quantum Capital Group,
say “it’s going to get ugly.”
“The
world has never had to destroy 10 million barrels a day of oil demand,” VanLoh
added, referring to the crude production not making it to global markets.
Relief
could be on the way. The U.S. and Iran agreed Sunday to a deal—set to be signed Friday in
Switzerland—that would quickly reopen the strait, through which 20% of the
world’s petroleum typically passes. But even if that deal holds, it would
likely take months for the oil market to return to normal.
Since
late March, the U.S. has drawn about 66 million barrels of oil from its
Strategic Petroleum Reserve, a system of salt caverns on the Gulf Coast that
was created in 1975 after the Arab oil embargo. The Trump administration
authorized the release of 172 million barrels—and if drawdowns continue at the
current pace, that allotment could dry up in early September.
The
current release—if fully exhausted—is set to bring inventories down to 243
million barrels, a historically low level. Drawing further from the stocks
after that would limit the U.S.’s ability to respond to new oil disruptions on
the world’s stage, or natural disasters such as hurricanes that can damage fuel
supply chains. The SPR peaked at more than 700 million barrels in 2009.
Commercial
stocks are also under stress. At the key storage hub in Cushing, Okla.,
inventories have dropped to 21 million barrels, down roughly 1 million barrels
in the latest week. At roughly 20 million barrels, tank operators begin running
into a variety of complications.
More
Oil Executives Are Sounding the Alarm Over Dwindling Stockpiles - WSJ
3:00 AM Update.
U.S.
stock futures jump on Iran deal to end the war; Japan’s Nikkei surges 5%: Live
updates
Updated
Mon, Jun 15 2026 9:45 PM EDT
Stock
futures are rising Sunday night to kick off the holiday-shortened trading week
after President Donald Trump announced that an agreement
had been reached to end the war between the U.S. and Iran.
Futures
tied to the Dow Jones
Industrial Average added 342 points points, or 0.7%. S&P 500 futures climed
0.9%, while Nasdaq 100
futures popped 1.4%.
Asia-Pacific
markets traded higher early Monday, with South Korea’s Kospi leading the
advance in the region, rising 5.17%; The small-cap Kosdaq was flat.
Japan’s Nikkei 225 added
5.13% while the Topix rose 3.63%. Australia’s benchmark S&P/ASX 200 was up
2.62%.
Hong
Kong Hang Seng index futures
were at 24,706, lower than the index’s last close of 24,718.10
----The three major U.S. stock averages
are coming off a winning week, with sentiment bolstered on Friday by SpaceX’s record-setting initial
public offering. SpaceX ended Friday with a market cap above
$2 trillion after a climb of more than 19%.
“A
successful SpaceX IPO is generally a positive signal for broader
investor interest in innovation and technology,” said Evan Schlossman,
principal at SuRo Capital. “It’s a reflection of the demand, interest, and
desire to invest in these types of companies.”
Investors
are watching for economic data on housing and retail sales this week. They will
also closely monitor the Federal Reserve policy meeting, which Fed funds
futures indicate has a more than 98% chance of ending with rates unchanged,
according to CME’s FedWatch tool.
The
stock market will be dark on Friday in observance of the Juneteenth holiday.
Stock market today: Live updates
00:30 AM.
Finally, the war without cause ends.
Now rebuilding disrupted supply chains can begin.
U.S. and Iran agree on peace deal to
end the war, Trump and Pakistan say
Published Sun, Jun 14 2026 5:39 PM
EDT
The U.S. and Iran have agreed on a
deal to bring their nearly four-month war to an end, with both sides declaring
the immediate and permanent termination of military operations on all fronts,
including in Lebanon, Pakistan Prime Minister Shehbaz Sharif said on Sunday.
“Following intensive talks, we are
pleased to announce that the Peace Deal between the United States of America
and Islamic Republic of Iran has been REACHED,” Sharif said in a post
on X. Pakistan has served as a mediator between the two countries.
“The official signing ceremony will
be on Friday, 19 June in Switzerland,” Sharif said.
U.S. President Donald Trump
confirmed that a deal had been reached soon after the prime minister’s
announcement. In a post on Truth Social, the president said: “The deal with
the Islamic Republic of Iran is now complete.”
“I hereby fully authorize the toll
free opening of the Strait of Hormuz, and, simultaneously herewith, authorize
the immediate removal of the United States Naval blockade,” Trump wrote.
Trump, in a later post, said that the strait would open on Friday.
“With the opening of the Strait upon
the signing of the Deal on Friday, for purposes of mine removal, oil will flow
on both ends again for the Region, and the World!” he said.
The Associated Press reported that
Iranian state media broadcast a television banner that said: “US was
forced to sign an agreement to end the war.”
Iranian state TV also said the
Iranian Foreign Ministry holds the U.S. and Israel “responsible for the
dangerous consequences of the continued insecurity and tension in the region.”
The Ministry of Foreign Affairs in
Qatar said in a statement that it welcomes the agreement, which
includes measures to ensure freedom of navigation in the Strait of Hormuz.
Qatar “considers it an important step towards consolidating sustainable peace
and promoting economic growth regionally and internationally,” he said.
On Friday, Iranian state media reported that
a 14-page draft memorandum had been drawn up, outlining terms of a proposed
peace deal that would include the U.S. lifting oil sanctions and Iran
committing to reopening the Strait of Hormuz within 30 days.
The deal follows weeks of mixed
messaging from both Washington and Tehran over the conflict’s trajectory, with
a fragile ceasefire in place as diplomatic efforts were made to end the war.
The deal was put at risk earlier
Sunday after the Israel Defense Forces said Iran-backed Hezbollah in Lebanon
had launched projectiles into Israel. Subsequent Israeli strikes in Beirut
prompted condemnation from Trump, who warned Iran and Hezbollah not to strike
back.
Trump asked both sides not to “blow
it.”
The Strait of Hormuz, a critical
shipping route in the Middle East, has effectively been closed since
the conflict began in late February. The blockade of the waterway has created
severe supply constraints for various goods, including oil, gas and
fertilizers, sparking price rises and fueling concerns about a return
to stagflation.
Inflation has already begun to creep
higher in many major economies, with America’s annual inflation rate hitting 4.2%
in May – its highest level in three years.
U.S. Vice President JD Vance, in an
interview on Fox News immediately after the deal was struck, said the agreement
was “a great thing for the American people.”
“I know that they suffer from high
gas prices, the President has certainly been very concerned about that fact,”
Vance said. “What we’re going to be able to do is drive down the cost of
energy, not just now but for the long term.”
On Thursday, the European Central
Bank announced a
quarter-point rate hike, raising interest rates for the first time since 2023
as the Iran war continues to blow euro zone inflation off target.
The move made the ECB the first
major global central bank to raise its key interest rate in response to the
energy shock.
Market expectations have shifted
throughout the war, with broad rate-cut expectations fading and being replaced
by higher-for-longer interest-rate environments across economies.
The Federal Reserve is now expected
to raise interest rates before the end of this year, according to the
CME’s FedWatch tool.
U.S. and
Iran agree on peace deal to end the war, Trump and Pakistan say
Trump heads to G7 summit in France
as world awaits Iran deal
Published Sun, Jun 14 2026 8:00 AM
EDT
President Donald
Trump is set to head to France for
the annual summit of the Group of Seven nations, with the U.S. and Iran yet to
finalize an anticipated deal to
end the Middle East war that has stirred political and economic strife around
the world.
The three-day G7 summit, which
starts Monday, is taking place in Évian-les-Bains, on France’s eastern border
with Switzerland, on the shores of Lake Geneva.
Trump said he will depart for the summit “immediately” after
attending a mixed-martial arts fight that is set to take place Sunday evening
on the White House’s South Lawn. The UFC match coincides with Trump’s 80th
birthday.
As France began its turn leading the
G7 in January, President Emmanuel
Macron expressed a desire for the group to prioritize reducing inequality and
fostering multilateralism while addressing inflamed trade and geopolitical
tensions. Those priorities may be counter to Trump’s America First agenda,
under which he’s imposed tariffs, gone after other world leaders directly and
on social media and started a war. And inequality in the U.S. is worse than in every European country except for
Turkey and just short of its highest point ever, according to the World Bank’s Gini index.
During his second term in the White
House, even more than in his first, Trump has distanced himself from
traditional U.S. allies and repeatedly flirted with pulling the U.S. out of
NATO, the key defense alliance between the U.S. and Europe.
While a deal to end the Iran war is
drawing much of the world’s focus, the G7 leaders are also likely to spend time
addressing Russia’s war against Ukraine, which continues to rage in eastern
Europe.
The seven nations — Canada, France,
Germany, Italy, Japan, the UK and the U.S. — and the European Union are also
expected to discuss issues related to artificial intelligence, online
protections and the fight against organized crime.
There could be “real fireworks” on
AI, said Victor Cha, president of the Geopolitics and Foreign Policy Department
at the Center for Strategic and International Studies.
Europe is eager to rein in Big Tech
and regulate AI leaders on energy and environmental grounds, while the U.S.
under Trump has opposed aggressively regulating the nascent industry, Cha said.
But Macron, who has been courting tech leaders, invited OpenAI chief Sam
Altman to attend the G7 and
participate in talks with the leaders, the tech company told CNBC.
Bloomberg reported that executives from Anthropic and Google are also slated to attend the conference.
Cha anticipated that Trump is likely
to be greeted at the summit by a group of other world leaders who are trying to
rein in the U.S. itself.
“Even under good conditions, Trump
is walking into a G7 where the Europeans, they’ve not appreciated the way that
Trump has talked about Europe,” he said. “With all these other issues on the
agenda, I’m sure it’s going to be a very frank and candid and fiery
conversation.”
Trump heads to G7 summit in France as world awaits Iran deal
Wall Street Week Ahead
Jun 14, 2026, 6:06 AM ET
Wall Street heads into a
holiday-shortened week with investors focused on the Federal Reserve's June
meeting, fresh consumer spending data, and developments from the G7 summit in
France.
The markets will be closed Friday
for the Juneteenth holiday.
The main event arrives Wednesday
when the Fed announces its interest rate decision, followed by new Chairman
Kevin Warsh's first press conference. Investors will be watching closely for
clues on how Warsh plans to navigate persistent inflation pressures and whether
he signals a more dovish approach than his predecessor. BofA expects Warsh to
argue that recent supply shocks are temporary and that the Fed should remain
focused on longer-term disinflation trends.
Economic data will also be in focus.
The May retail sales report is due Wednesday, while housing starts and the
Philadelphia Fed manufacturing survey will provide additional reads on economic
momentum.
On the geopolitical front, leaders
gathering at the G7 summit in Évian-les-Bains will be watched for any progress
on a potential agreement between the U.S. and Iran, with energy markets
remaining highly sensitive to developments.
Corporate highlights include HPE
Discover, AWS Summit New York, and earnings from Accenture (ACN), Kroger (KR), CarMax (KMX), and Jabil
(JBL). Markets
could also see heightened volatility on Thursday as triple witching coincides
with major index rebalancing activity.
More
Wall Street Week Ahead | Seeking Alpha
In other news.
‘Super’ El Nino is officially here: It could ‘get
dire very quickly’
12 June 2026
A powerful
El Nino has officially formed in the Pacific Ocean, with
meteorologists warning Thursday that it is poised
to reach historic strength and intensify extreme weather events across the
globe.
The natural warming cycle is expected
to exacerbate
global temperatures, already elevated by fossil fuel emissions, and could
supercharge severe weather patterns worldwide. The phenomenon is predicted to
rival or even surpass the record-setting El Nino of 1997, which caused billions
in damages through heatwaves, floods, droughts, tornadoes, and wildfires.
The U.S. National Oceanic and Atmospheric
Administration formally confirmed the existence of the El Nino, a warming of
the Pacific near the equator that profoundly affects global weather patterns.
NOAA projects a 63% likelihood that this El Nino will become so intense by late
fall and early winter that it "would rank among the largest El Nino events
in the historical record going back to 1950."
Clark University climate scientist Abby
Frazier explained that the warm, deep waters of an El Nino introduce "a
lot of extra heat to the surface, fueling a lot of extreme events for a lot of
places around the world." She cautioned that, particularly in the Pacific,
"it can get dire very quickly."
United Nations Secretary-General António
Guterres echoed this urgency, describing El Nino as an "urgent climate
warning" and stating that "El Nino conditions will pour fuel on the
fire of a warming world."
El Nino's impacts spawn winners and losers
The weather pattern's effects vary by
region. El Nino often dampens — but doesn't eliminate — Atlantic hurricane
season activity, but increases it in the Pacific. So while the U.S. East and
Gulf coasts may get a break, Hawaii and other islands are more in danger,
Frazier said.
The drought-stricken Middle East could
benefit, climate scientists said. Other places are looking at more danger.
Parts of western South America — where the first El Ninos were noticed decades
ago — often get heavy rain and floods, along with an extra warm summer. India
faces more intense heat waves, while drought, wildfires and heat threaten
Australia.
Northeastern Africa is likely going to get
weather whiplash from intense drought to dangerously heavy rains, said Columbia
University climate scientist and El Nino expert Muhammad Azhar Ehsan.
In the U.S., El Ninos can cause more
intense storms with heavier rainfall in the South, but they also tend to
generally benefit the U.S. agriculture industry, said Jon Gottschalck,
operational branch chief at NOAA's Climate Prediction Center.
Michael Ferrari, meteorologist and head of
research at the investment research firm Moby, said conditions for grains and
seed, especially soybeans, look favorable in 18 major growing states, but are
more mixed when it comes to dairy and cattle.
The northern Rockies and Southwest — where
there’s an “off the charts” snow drought — could get some strong summer rains,
Gottschalck said. The biggest effect in the U.S. is often in the winter, when
the south can get wetter and the Pacific Northwest warmer and drier.
But overall, temperatures raised by the
weather pattern can dampen American economic growth, said Stanford climate
economist Marshall Burke. Several climate scientists forecast that 2027 will be
the hottest year on record because of lagging effects of this El Nino, which is
expected to peak in the fall or winter.
“We have pretty clear evidence that the
U.S. economy grows more slowly when temps are above normal,” Burke said.
More
‘Super’ El Nino is
officially here: It could ‘get dire very quickly’
Politicians the same the world over.
Carney’s blarney
by Catherine Swift September 23,
2025
The past week has served up to Canadians a
healthy portion of blarney, courtesy of our federal Liberal government. For
one, a façade of a building was constructed solely for the purpose of being the
backdrop for a press conference announcing some housing policy from Prime
Minister Mark Carney. The fake building even included men and women in hard
hats looking out of windows, pretending to hammer something, install a window
or give the impression of doing some other fake construction-like
activity.
The faux structure was taken down shortly
after the press conference ended, and by the afternoon of the same day the
premises was once again a vacant lot.
More
Global Inflation/Stagflation/Recession
Watch.
Given
our Magic Money Tree central banksters and our spendthrift politicians.
The
next Federal Reserve meeting is scheduled for June 16–17, 2026, with markets
widely expecting the Fed to hold interest rates steady at 3.50%–3.75%.
----The
two-day format includes staff presentations and internal discussions on Day 1,
followed by a vote on the federal funds rate and a policy statement release at
2:00 PM ET on Day 2, with a press conference by the Fed Chair at 2:30 PM ET
Current
Economic Context
Recent
data shows inflation remains elevated at 4.2% year-over-year, while
the labor market continues to cool gradually, with unemployment steady at 4.3%
and moderate job gains. Geopolitical tensions, particularly the conflict
in Iran, have added uncertainty and upward pressure on energy prices,
influencing the Fed’s cautious approach.
Expected
Policy Decision
Analysts,
including JPMorgan’s David Kelly, expect the Fed to hold rates at
3.50%–3.75%, reflecting a data-dependent approach and a wait-and-see stance
amid sticky inflation and moderate economic growth. The CME FedWatch tool
currently prices in a 65% probability of a hold at this
meeting. While some market participants anticipate potential rate cuts later in
2026, the June meeting is expected to maintain the current target range.
Via
AI.
Bank
of England set to hold interest rates as it faces balancing act
Sun,
14 June 2026 at 9:00 am BST
The
Bank of England is set to keep interest rates on hold as policymakers face the
task of navigating the Middle East energy shock and a slowing economy.
Many
economists do not think an interest rate hike is on the cards this month
despite concerns that the Iran war is putting pressure on UK inflation.
The
Bank's Monetary Policy Committee (MPC), which uses interest rates as a tool to
control inflation, is widely expected to keep the level at 3.75% at the next
announcement on Thursday.
Rates
had been gradually coming down from a peak of 5.25% but the outbreak of the
US-Israel war with Iran at the end of February put the brakes on any further
cuts.
This
is largely because of the impact to energy costs, which drove up the price of
fuel in March and will lead to higher household energy bills from the summer.
But
at the same time, the MPC will be wary of raising rates if it holds back growth
in the UK economy.
New
official figures published on Friday showed gross domestic product (GDP)
declined by 0.1% in April, the first contraction in eight months, in a sign
that some sectors were feeling the impact of the Middle East conflict.
Suren
Thiru, chief economist for ICAEW, said: "An interest rate hold on Thursday
looks highly certain with rate-setters likely to maintain a watchful approach
to tightening policy given the recent deluge of downbeat economic data and
growing global uncertainty.
"Though
interest rates could stay at 3.75% for the rest of the year, it will become an
increasingly close call as inflation starts to surge over the summer,
especially if turbulence in the Middle East persists."
The
European Central Bank opted to increase its interest rate on Thursday for the
first time in almost three years, noting that the conflict was "generating
inflation pressures".
Bank of England set to hold interest rates as it faces balancing act - Yahoo News UK
World’s Food Supply Imperiled by Iran War, Fertilizer Manufacturer
Fertiglobe Chief Says
Governments need to
step up efforts to get fertilizer moving through the Strait of Hormuz and offer
more support to farmers, Ahmed El-Hoshy says
By Adam
Whittaker June 12, 2026 8:12 am ET
Conflict in the Middle
East is threatening to spike grain prices and exacerbate hunger among the
world’s poor, the chief executive of fertilizer manufacturer Fertiglobe says.
Global governments need
to step up efforts to get fertilizer moving through the Persian Gulf and offer
financial support for farmers to help offset the jump in prices, Ahmed
El-Hoshy said in an interview.
Fertiglobe, majority
owned by Abu Dhabi state oil company Adnoc, uses natural gas to produce fertilizers.
The prices for ammonia and urea fertilizers have jumped since the conflict
began, when supply from the Middle East fell and the energy supply shock sent
gas prices soaring. Nitrogen fertilizers-like ammonia and urea-are particularly
important for boosting yields of crops like corn, wheat and rice.
With the Strait
effectively closed, Fertiglobe has been trucking some of its product from the
strait by road to other regional ports, but not enough to fully offset the hit
to supply. Some 30% of urea exports aren’t leaving the region, El-Hoshy said.
Gas prices have also risen after facilities in the Middle East were hit,
pushing costs up for producers globally.
Fertiglobe has continued
to produce fertilizer at a facility in Abu Dhabi and has been storing it at
different locations. It also has significant production facilities away from
the strait that continue to operate.
Failure to get fertilizer
supplies moving or provide financial support risks worsening food shortages and
triggering higher grain prices that could take time to come down, El-Hoshy
said.
Overall, there is
optimism that a peace agreement between the U.S. and Iran is close to being
completed. President Trump and Iranian state media have both said in recent
days that the strait could open up as soon as an agreement is signed.
----Fertilizers are responsible for producing the
calories for around half of the world’s 8 billion people, El-Hoshy estimates.
With some fertilizer supply trapped in the strait and prices elsewhere high,
there is a risk farmers will cut usage, depressing crop yields and tightening
agricultural supply.
His comments echo
warnings from the Food and Agriculture Organization of the United Nations,
which said last month an impending systemic agrifood shock could trigger a
severe global food price crisis.
European Union
authorities said Friday they would provide 540 million euros-around $625
million-in financial support for farmers in the bloc to buy fertilizers, citing
the need to ensure food security amid sharply rising costs.
Still, the impact of the
conflict on fertilizer and agriculture markets is best described as “a tragedy
unfolding in slow motion,” analysts at ING wrote in a recent note.
Farmers in the Southern
Hemisphere are disproportionately affected, given they are currently planting
crops and have limited access to the credit or government support needed to buy
fertilizer. Higher fuel prices also threaten to eat away at farmers’ margins,
El-Hoshy said.
There’s been talk but not
enough action to be able to deal with the risks of this continuing for a longer
period of time, he said.
The time-lag effect makes
the situation dangerous given it can take months for supply leaving the region
to reach farmers, and missing a key planting season in the Southern Hemisphere
risks hitting crop yields months in the future, El-Hoshy said.
Farmers in sub-Sahara
Africa, Latin America and India are especially reliant on imports and might
have to go without nitrogen fertilizers, he said.
In some lower
socioeconomic countries, food production could fall.
“And that, with growing
populations, could be extremely problematic,” El-Hoshy said.
World’s Food Supply Imperiled by Iran War, Fertilizer Manufacturer
Fertiglobe Chief Says - WSJ
Technology
Update.
With events happening fast in the
development of solar power and graphene, among other things, I’ve added this
section Updates as they get reported.
Solar generates more energy in US than coal for first time
Solar supplied 12.8% of US electricity in May even
as Trump boosts coal over clean energy
Thu 11 Jun 2026 11.00 BST
Even as Donald Trump boosts coal over clean energy, solar power is
hitting new milestones in the US and remains the leading source of new power.
Data released on Wednesday by the global energy thinktank Ember, along
with a report by the Solar Energy Industries Association (Seia) and analytics firm Wood Mackenzie,
show the continued growth of solar and decline of coal in the United States
despite federal policy. In May, for the first time, solar supplied more of the
nation’s electricity than coal, or 12.8%, Ember said. Coal supplied 12.2%, its
fourth-lowest monthly share ever.
“For years solar power has risen in the US electricity mix,” said Nicolas
Fulghum, senior energy and data analyst at Ember. “At the same time, coal power
has lost its status, first as the largest source in the US mix, and then
gradually over the years has fallen even further.”
Solar also became the
third-largest source of electricity in the US in May, behind natural gas and
nuclear, Fulghum said. Coal generation hit an all-time monthly low in April and
rebounded only modestly in May, allowing increasing solar generation to overtake
coal, he added.
---- After about two decades
of essentially flat electricity consumption in the US, electricity demand is
increasing to power artificial intelligence, grow domestic manufacturing and
electrify transportation and heating. Fulghum said he expected to see more months
when solar exceeds coal generation, before overtaking it on an annual basis in
a few years.
These milestones signify that solar “has staying power” at a time when
there is less support for renewable energy at the federal level, he added.
Wind and solar combined have overtaken coal in the past, and wind power
alone has outpaced coal during spring months when wind speeds pick up. Ember
gets its hourly and monthly data from the US Energy Information Administration.
Globally, electricity
generation from renewables is growing rapidly. Renewables will become the
largest global energy source, used for almost 45% of electricity generation by
2030, according to the International Energy Agency.
More
Solar generates more energy in US than coal
for first time | US news | The Guardian
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt Clocks
(usdebtclock.org)
If we are to achieve things never before accomplished we must
employ methods never before attempted
Francis Bacon
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