Investment

Take it from Deloitte: Carbon capture is a terrible investment

Published

5 months ago

June 26, 2024

You can be forgiven if you thought the federal government and the Pathways Alliance, the oilsands industry consortium promoting carbon sequestering, were submarined last week by a report produced by the consulting firm Deloitte for the Alberta government. The headlines that appeared in multiple media sources said, “Emissions cap means cut in oil & gas production, says report.” But before fully accepting that headline we should take a close look at the actual report.

The report had three main findings. The first is that Deloitte found carbon sequestering was less economic than cutting production. The second followed from that and concluded the emissions cap would result in production cuts. The third was that these cuts would have substantial economic impacts across the Canadian economy.

If this is an accurate read of the future, it calls into question the proposed cap, the substantial funding that governments are throwing at sequestration projects and the industry consortium’s multi-billion dollar project. However, if you take a hard look at the report and the basis they used to generate these conclusions you can put an entirely different spin on it.

Let’s start with that cut in production. Deloitte used a scenario assuming a 15 per cent increase in Canadian oil production from 2024 to 2040. Deloitte is up front about using the Canadian Energy Regulator’s (CER) Current Measures scenario because it reflects “business as usual.” And therein lies the problem.

The CER outlook offered multiple scenarios. The first is the Current Measures scenario used by Deloitte which assumes “limited action in Canada to reduce GHG emissions beyond measures in place today” and “assume limited future global climate action.” It assumes oil grows because the world doesn’t act. This vision of the future foresees a world that isn’t bothering much about emissions reductions and concludes it will cost our economy to reduce emissions on our own.

That assumption of global failure to act should not be used to set climate change policy in Canada, because it assumes massive climate disaster. But more importantly, though the report is silent on this point, the opposite is also true. In a world doing something about emissions, assuming business as usual in Canada would be economically devastating.

One of CER’s other scenarios, Global Net Zero, assumes a future where countries work to reduce carbon pollution. In this scenario, the CER has Canadian oil production falling dramatically by 2040, from over 5 million barrels per day to 1.2 million barrels per day. The price of crude also takes a huge hit (the Current Measures scenario has Brent crude at $75 US/B. The Global Net Zero scenario has crude at $30 US/B.) These production levels and prices are based on global actions and economics, not Canadian policy. The majority of global oil in use in that report ends up being just for asphalt and chemicals because very little global demand for gasoline and diesel remains by 2040.

This is the scenario we should be discussing because we expect the world to do much more than they are right now. Production cuts are coming, with or without an emissions cap, at levels far greater than what Deloitte calculated with the cap. Deloitte predicted a one per cent hit to GDP in 2040 with a 10 per cent production cut. But that 10 per cent production cut is dwarfed by the 80 per cent cut in CER’s net zero scenario. In a net zero future, the GDP hit from relying on continuing oil production is almost unfathomable.

Canada is about to see a massive drop in GDP as the world decarbonizes. And to pretend otherwise is sleepwalking over a cliff. As far as the cap goes, it seems immaterial in the long term. The market will quickly overtake government policy. But if it makes producers think now about whether they want to bet on the long term that is a good thing.

Carbon sequestering relative to cutting production is not economic even in an environment with growing crude demand and a fairly high price. That equation will tip even further under the net zero scenario of collapsing demand and low prices.

And now we get to what really was an unintended consequence of Deloitte’s work. It states carbon sequestering relative to cutting production is not economic even in an environment with growing crude demand and a fairly high price. That equation will tip even further under the net zero scenario of collapsing demand and low prices. In that future, carbon sequestering becomes even more of a money loser.

It’s no wonder the industry is balking at making that investment. It makes sense for the oil giants to slow-walk the decision so they can see if the world is acting. It’s also why the industry insists the only way they can move forward with carbon capture is if you and I fund it.

But from a government perspective, based on the Deloitte analysis, it would be a ridiculous waste of money and resources. We are going to see a huge drop in demand for our oil. Cap or no cap. Carbon sequestering or no carbon sequestering.

It bears repeating. The implications from the Deloitte report are clear; oil industry carbon capture investments make no economic sense under any scenario. Canada should not invest public money in that exercise and let the oil industry sink or swim. If the industry decides not to invest, it’s because they are good at reading the tea leaves. The sun is setting on Alberta’s fossil industry.

Source link

Investment

The Advantages of Using Bitcoin for Online Casino Betting: Faster, Cheaper, Safer

Published

3 days ago

November 18, 2024

Harry Miller

With increased adoption of cryptocurrencies and proliferation in the online gaming industry, Bitcoin casinos are becoming increasingly common. Bitcoin, being one of the alternative currencies, may offer immense advantages in security, anonymity, and speed of every transaction, from appealing to new and seasoned players. The following article will outline the main benefits of using Bitcoin for online casino betting and will describe in detail how this cryptocurrency enhances gaming.

For those interested in exploring the benefits of Bitcoin gaming, theonlinecasinos offers a carefully curated list of reliable Bitcoin casinos. Their guide helps players find the best options available, ensuring a seamless, secure, and rewarding gaming experience.

1. Speed of Transaction

The main benefit linked to the use of Bitcoin in online casino betting is that it possesses high transaction speed. Unlike the bank transfers and card payments, which take several hours or even days, Bitcoin transactions take just minutes.

Why does this matter?

Fast transactions equal the ability for players to fund their accounts straight away with no need for confirmation. Since some gamers just want to get started immediately, or just simply cash out and go, this can come pretty in handy. While most bank transfers involve verification by means of a financial intermediary that is likely to be slow, Bitcoin involves a decentralized network of computers handling processing without any interference from an intermediary.

2. Savings on Fees

Deposits and withdrawals have made it possible for players to cut down or totally eliminate fees imposed by financial institutions through Bitcoin. Banks, credit organizations, and networks of all kinds impose a fee on any transaction, but especially international ones. Due to the fact that this is a network where users make transactions directly, the network fees for Bitcoin are minimal.

How Does This Affect Players?

The lower fees translate to savings that the player will make every time a transfer is made. There are some online casinos that absorb even this negligible Bitcoin network fee; thus, this makes deposits and withdrawals absolutely free for players. To players usually performing lots of transactions or large quantities, this difference in fees may prove critical.

3. Improved Security and Data Protection

Bitcoin uses blockchain technology, one of the most secure and transparent systems in the world. All the transactions involved in blockchain are encrypted; hence, fraud and hacking have almost nil chances of being performed. Furthermore, there is no necessity for sharing personal data while using Bitcoin for online betting as your card number or bank details will not come into play.

Anonymity and Privacy Protection

In the case of Bitcoin, players can preserve anonymity, since for a transaction, one needs only a Bitcoin address. Hence, Bitcoin casinos are true Catch-22 for those who value privacy in financial operations and want to avoid unnecessary checks from banks and other institutions.

4. Fewer Restrictions and Regulations

A lot of countries ban gambling or strictly regulate any operations including online casino transactions. This may raise serious barriers for players to access their favorite platforms or even to get accounts suspended. Bitcoin transactions do not go through the banking system and therefore are not regulated like traditional money. This means greater freedom for users.

Benefits to International Players

For players whose countries have restricted gambling, Bitcoin is an easy way around any legal restrictions. For people in countries with unfinished developed banking or those, due to which one can’t access every type of payment, Bitcoin casinos are a great way to access different kinds of bets.

5. Bonuses and Special Offers for Bitcoin Users

Most online casinos welcome the use of Bitcoin by giving bonuses for cryptocurrency choices. In many cases, higher welcome bonuses, cashback on deposits, free spins within the slot machines, and others are common.

How Does This Benefit Players?

The Bitcoin bonus can increase the player’s budget very much and bring extra value to players. Online casinos are happy to see this cryptocurrency, as it cuts some transaction processing costs for them, either. Because of that, promotion activities targeting depositors and withdrawers of Bitcoins can be regularly found.

6. Bitcoin for Gaming Bankroll Management

Being a cryptocurrency, Bitcoin allows players to have flexible banking of their bankroll. Many users keep their winnings in the form of Bitcoins, since it can surge in price. This adds the opportunity to earn extra income from its volatility when Bitcoin prices surge upwards.

Example of Bankroll Management

Using Bitcoin Many players keep their winnings in Bitcoin, due to the fact that its price might go up. In this case, casino winnings create passive income. But one should keep in mind that Bitcoin’s price also goes down, so this strategy is to be used with care.

Investment

Trade-X reviews: peculiarities of transactions on trading platform

Published

3 days ago

November 18, 2024

Harry Miller

Financial independence is an important component of success. To avoid wasting everything, you need to be able to save and invest. Thanks to this, it will be possible to create a financial cushion. You can get additional income with the help of brokers. Every adult can register on the Trade-X website and start trading activity. The latter is based on the conclusion of transactions for the purchase and sale of material values, currency, contacts and shares of well-known companies. As reviews show, the broker sets a minimum commission and charges the trader a certain amount after a successful profit. With the right approach and the ability to analyze data, the trader receives a tangible profit from his deals.

Let’s consider what the trader’s work is and read the real comments of Trade-X clients.

Recommendations and reviews about Trade-X

Choosing a source of income, many people monitor websites and look for what they write about the broker in reviews. After all, safety on the Internet, especially when entering your personal data and bank cards is very important. Newcomers who are just entering the market are especially concerned. It is known that the Trade-X company is officially registered in London and acts according to the legislation. It carries out work with an exchange expert and a hedge fund, has more than 200 assets. Trading conditions, including commissions and spreads, are transparent, which does not allow the broker to change them in its favor.

Participants of Medium, Linkedin, Reddit platforms often write good reviews that no fraudulent schemes were observed on the sites, and the support service always responded quickly to questions and any difficulties, if they arose. The broker company has an arsenal of trading tools, signals and training materials, where everyone can understand the nuances of the profession for free. The reviews also say that the terminals work well without delays, price movements are displayed on the charts. By the way, you can monitor the status of the launched order both from your computer and from your phone by installing the Trade-X broker application.

Features of cooperation with the provider of trading platforms

The provider offers trading platforms with access to many financial instruments. It is a kind of analytical center with access points to currencies.

The following are the features of operations:

Ease of management of the personal account and the site as a whole for novice depositors and professionals.
Analysis tools: different timeframes, indicators and analytical tools, which simplifies predicting and planning transactions.
Minimal costs. Trade-X brokers provide competitive spreads on major assets, as well as no commissions for certain types of accounts, which can be beneficial for traders with frequent trades.
24/7 market access: support for 24/7 trading, especially for cryptocurrencies and some international markets.
Margin trading and leverage: Trade-X offers leverage to help increase trade volume, although it also increases risk.
Automation and trading robots: integration with trading robots and algorithmic systems is supported, allowing for automated trades.
Security: state-of-the-art technology to protect funds and data, such as encryption and two-factor authentication.
Training and support: video tutorials, personalized mentoring, group webinars, literature.

Access to the platforms is open to adults who have completed the registration and document verification process. The minimum deposit is 500 dollars. After depositing this amount, you can start investing in any asset. You can follow the course of events by connecting to mobile Internet from anywhere in the city and even in the country. They write in the reviews that it is very convenient. The international resource Trade-X operates in 197 countries, so entry is free for those wishing to invest in the most popular resources. In case of difficulties with authorization, you can use the site mirror or connect VPN services.

What to trade on Trade-X site

More than 200 assets are presented on the site. It is easy to get confused when choosing from such an arsenal. However, experienced participants of the investment market recommend choosing currency pairs. In any case, it is necessary to be aware of possible rate drops or growth. You can learn this from the news, the current chart and your observations.

The most common trading options on the Trade-X website:

Currency pairs, which are the ratio of the prices of two currencies.
Resources: gas, oil, ores, metals.
Stocks: a share of ownership in a company.
Futures: a contract on future purchase.

Trading on the stock exchange for beginners most often starts with currency pairs – they seem more familiar, clear and predictable. It is not difficult to calculate the dynamics of quotations with the large availability of tools and comprehensive assistance from the administration. Visual representation of price movements is significant for a trader, and the latest news in the world economy provides an additional stimulus for correct calculation of ask and bid.

Trade-X services have long been considered the gold standard of the industry. Since its foundation, the online broker has not stopped its development even for a day or an hour. Its services are becoming more and more technological and interesting for users. This allows to get a significant increase in the client base. Positive reviews allowed the company to stand out among other trading platforms, and assigning a personal manager to you will allow you to feel more confident if you are just at the start of trading.

Investment

Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

Published

2 weeks ago

November 6, 2024

Anne Joseph

NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

Source link