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Electric utility stocks seem to have tapered off, after all the hoopla about how demand from AI would transform the business turned into concern that demand from AI would raise prices to consumers and rile the politicians who set the rates. Maybe it is time to reassess what investors expect. First, understand that Wall Street focuses most on one number in utility financial valuation nowadays, the growth of rate base, because regulators set earnings as a percentage of rate base. The bigger the rate base, the more the utility’s income. We calculate…
The Kurdistan Region of Iraq (KRI) is once again edging toward a fiscal breaking point. Officials in its Erbil-based semi-autonomous regional government (KRG) say they are receiving only a fraction of the budget transfers they are owed under the current oil-for-budget payments arrangement with the Federal Government of Iraq (FGI) in Baghdad. This revives the same dispute that triggered the collapse of the deal in March 2023 and shut down the crucial Iraq-Turkey Pipeline (ITP) for more than two years. Erbil argues that Baghdad’s shortfalls…
On 12 January 2026, U.S. President Donald Trump announced, “Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America.” Trump’s announcement aims to weaken the government of the Islamic Republic in the wake of weeks of protests against the government, sparked by a weak economy. Trump told the protesters to keep fighting their government and that “help is on the way.” Who is “doing business”…
This week, Tesla North America and Elon Musk announced that the largest and most advanced lithium refinery in the United States is now operational. The Tesla Lithium Refinery just outside of Corpus Christi, Texas, is another step toward the U.S. goal of having domestic refined lithium resources to counter China’s market dominance. “Our Lithium Refinery ushers in energy independence for North America,” Tesla North America said in the caption of a video announcing that the plant is operational, just two years after breaking ground.…
Following the United States unilateral intervention in Venezuela at the beginning of January, President Trump has discussed the potential for exploiting the South American country’s vast oil reserves. As he looks to boost oil production across the Americas, many are questioning just how much of an impact the expansion of Venezuelan heavy oil production would have on the environment, and on global decarbonisation aims. Venezuela is home to the world’s largest oil reserves, with an estimated 300 billion barrels. However, years of underinvestment…
