The gold price is racing from one all-time high to the next. That’s good news for friends of the precious metal and bad news for anyone still hoping for a stabilization of global debt dynamics.  Assuming the markets close out the year without major volatility, gold holders can look forward to an approximate 70 percent increase in value within a single year. This is remarkable—not least because 2024 already ended with a 26 percent gain for the otherwise conservative asset class of precious metals. That amounts to a doubling of value…

For most of the past decade, oil markets have treated decisions by OPEC as the primary signal for price direction. That hierarchy is being tested, but not overturned. What has changed is where traders look for short-term cues. Increasingly, those cues are coming from China, not because Beijing controls supply, but because its buying behavior now dominates marginal demand and near-term price discovery. As reported by Reuters, China has overtaken OPEC as the most influential force in oil price formation, driven by the scale and timing of its crude…

While Kazakhstan has big plans to develop its nuclear power capacity, the United States is helping Astana think small. The US government has agreed to help train Kazakh specialists in the operation of small modular nuclear reactors (SMRs), according to a statement issued December 22 by the US Embassy in Astana. The first phase of the cooperation deal involves the supply of an SMR simulator to Kazakhstan’s Institute of Nuclear Physics in Almaty.  At the same time, a US energy company, Sargent & Lundy, will carry out a feasibility…

As Israeli Prime Minister Benjamin Netanyahu prepares to meet US President Donald Trump in Florida on December 29, the agenda centers on Iran -- with a twist. Israel is laser-focused on Iran’s ballistic missile program, which it views as the most urgent existential threat after the US-Israeli strikes severely damaged Iran's nuclear infrastructure during a 12-day aerial campaign in June. This shift highlights a growing US-Israel divergence. Trump has repeatedly described Iran's nuclear threat as "obliterated," crediting wartime bombings of…

The prevailing structural theme right now is that national oil companies (NOCs), in some cases and across some segments, are moving faster than the majors, outspending them, beating them in locking up supply chains, and building cash cows faster for the future. You can see it directly in upstream spending trends highlighted by the IEA Oil 2025 report, and the money is shifting this way because the NOCs have political backing, lower lifting costs, and much clearer mandates than the big listed companies. Wood Mackenzie has warned that tighter capital…

Texas Governor Greg Abbott has congratulated the Texas Legislature for passing House Bill 14, saying it will help revolutionize Texas’ energy sector and cement the state’s role in leading a nuclear power renaissance in the United States.   “Texas is the energy capital of the world, and this legislation will position Texas at the forefront of America’s nuclear renaissance,” said Governor Abbott. “By creating the Texas Advanced Nuclear Energy Office and investing $350 million–the largest national commitment--we…

Texas Governor Greg Abbott has congratulated the Texas Legislature for passing House Bill 14, saying it will help revolutionize Texas’ energy sector and cement the state’s role in leading a nuclear power renaissance in the United States.   “Texas is the energy capital of the world, and this legislation will position Texas at the forefront of America’s nuclear renaissance,” said Governor Abbott. “By creating the Texas Advanced Nuclear Energy Office and investing $350 million–the largest national commitment--we…

Texas Governor Greg Abbott has congratulated the Texas Legislature for passing House Bill 14, saying it will help revolutionize Texas’ energy sector and cement the state’s role in leading a nuclear power renaissance in the United States.   “Texas is the energy capital of the world, and this legislation will position Texas at the forefront of America’s nuclear renaissance,” said Governor Abbott. “By creating the Texas Advanced Nuclear Energy Office and investing $350 million–the largest national commitment--we…

There are at least two places, San Francisco and the mid-Hudson Valley in New York, where political activists are currently advocating for a public takeover of the local investor-owned utility. Pacific Gas and Electric is owned by utility holding company PG&E Corporation and the service territory of the former Central Hudson Gas & Electric Company is owned by Fortis Inc, a Canadian holding company with varied utility interests. We have no views on the respective merits of either municipalization movement. What we find interesting is that…

The safe-haven trade in precious metals is showing little sign of cooling, with gold, silver, and platinum extending gains into Friday’s session. Gold futures climbed ~1.6% to trade above the $4,500 level, while silver jumped more than 3% amid tight physical markets and strong industrial demand. Platinum also traded near the upper end of its recent range as supply constraints continued to support prices. Precious metals are rallying due to a "perfect storm" of heightened geopolitical uncertainty, expectations of U.S. interest rate cuts, a…

Turkey anticipates major energy breakthroughs in the coming year, including the launch of the first reactor at its Akkuyu Nuclear Power Plant alongside increased domestic natural gas production and continued rapid growth in renewable sources (solar/wind), energy officials in Ankara said on Friday. These advancements are part of Turkey's broader strategy to reduce reliance on imported energy, enhance energy security, and meet growing demand through diversified, cleaner sources. The combined impact of nuclear, renewable, and domestic gas projects…