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We Evolved From Jiu-Jitsu Strangleholds To Empowering Locals

We Evolved From Jiu-Jitsu Strangleholds To Empowering Locals

Yahoo04-06-2025
Costa Rica has been known to surfers for decades, going back to the 60s, but ever since the early 90s, when the country decided to really emphasize the importance of their natural environment and embrace eco-tourism, it has thrived and become a model for countries around the world. Many visitors were so well impressed and taken by the natural beauty and way of life that they decided to move there themselves.
In recent years this has caused concern, especially in some communities, as the mostly wealthy visitors have changed the very fabric of the place with extravagant homes and a tendency to think that they have every right to call the shots. Lo siento chicos, no es asi.
The following article is the first part of the story of Surfistas Locales by Tara Ruttenberg Ph.D., about a group of local instructors who work together to ensure their own livelihoods and homes are respected. Portraits by Roselle Knaus.
Unpopular opinion: "The locals are always right." Costa Rican surf instructor and style master Tavo Rio says it with a broad smile, his lean body tan like cinnamon, and shirtless beneath the breezy shade of the coconut palms. 'Twenty years ago, Santa Teresa was just trees. Now it's full of buildings. It used to be five or ten of us in the water. Now it's a hundred every day, maybe more.'
We're at the south end of the stretch of beach break he's been surfing since he was a kid. Before paved roads, electric lines, development. Before surf tourism really became a thing. As we're all uncomfortably aware, Tavo's story is unfortunately not unique.
Gringo surfers show up with Endless Summer dreams on their tropical horizon. Sleepy-fishing-village-turns-busy-surf-town seemingly overnight. Bars. Cafés. Surf camps. Yoga resorts. Backpacker hostels. Luxury vacation villas. All predominantly foreign owned. Speculative real estate markets pushing land grabs for the ultra-wealthy. Inflation and inequality. Local cultures marginalized and native families edged out of town. All that fucking trash.
Famously, Steve Barilotti named this ubiquitous phenomenon 'surfer colonialism in the twenty-first century.' In Costa Rica, local surfers call it coastal gentrification, where native families are priced out, towns transform rapidly, and paradise becomes a playground for the wealthy.
In popular surf towns the fabric has become markedly non-Costa Rican, with the majority of coastal businesses owned by foreigners – upwards of 80 percent, in fact, in the popular northwestern region of Guanacaste, according to the Tamarindo Integral Development Association.
In Playa Jacó, one of Costa Rica's original surf tourism destinations-turned-surf city by the sea, gentrification and foreign investment have transformed the coastline and cultural landscape dramatically since the 1990s. Jacó native, Juan Calderón, is an architect, surf instructor, entrepreneur, and newly appointed municipal government advisor whose grandfather was among the original town founders. Juan owns and runs a surf hostel out of his converted family home in the heart of Jacó, where we chat over coffee, roasted right in his backyard.
'As tourism towns grow, the cost of living gets more expensive for the community. Price inflation on rental property displaces native Costa Rican people who find everyday life more and more difficult to afford.' Juan pauses for a sip, cleans the lens on his glasses, fondles his beard. He looks astutely professorial, save for the six fresh stitches adorning his upper lip – a surf accident, he says.
'Sure, tourism brings some jobs and opportunities for a certain sector, but many local people are being affected by the incredibly high cost of rent and property. Since Jacó has become a destination focused on tourists, the international prices here are much higher than the reality of the costs that locals and natives can pay.'
Juan's family coffee company, Bohío, borrows its name from the thatched roof mud-floor huts his grandparents built and lived in as farmers and fishermen prior to the arrival of tourism. We flip through the worn pages of a photo book made for his family as a gift from one of Jacó's early visitors, with images of the undeveloped coastline in the 1970s. A far cry from the many high-rise hotels, casinos, condo buildings, and shopping centers lining Jacó's main drag today.
Overdevelopment, rent inflation, and an increasingly high cost of living aren't the only impacts of coastal gentrification in Costa Rican surf towns. Livelihood access and job security have become serious issues confronting local surf tourism workers, as many foreign-owned businesses hire other foreigners and pay them under-the-table wages to evade taxes and worker benefits required by Costa Rican law. In the surf tourism labor market, safeguarding jobs for local surf instructors has become something worth organizing for.
Enter Surfistas Locales, a national network of Costa Rican surfers and surf instructors promoting the local surf industry and advocating for stronger regulation and enforcement against foreign tourists working in the country as surf instructors without legal work permits.
Surfistas Locales co-founder Mauricio Ortega Chaves started the first surf school in Tamarindo in 1996, and celebrates the Costa Rican surf industry as a 'blessing for the community. It's helped the community grow and families feel supported, because before the industry existed here there wasn't much work. It was hard to survive. So, it's an industry that locals have to protect for the benefit of local communities.'
It's late morning on New Year's Eve, and peak tourist season slaps hot and heavy across lounge chairs and candy-striped beach umbrellas, migrant vendors pushing five-dollar coconut water. 'Tis the season. Between fielding phone calls and slinging surf lessons, Mauricio spills the tea on Surfistas Locales' origin story, complete with jiu-jitsu strangleholds and neighborhood vigilante visits intended to remind disrespectfully loud-mouthed tourists that localism is very much alive and well in pura vida-landia.
'That's how the engine of the movement started. To tell people that when you enter a country, you need to respect [the locals]. We created a mission and a vision for Surfistas Locales so it wouldn't become a nation-wide gang, because that would have been very dangerous.'
As it's evolved over the past few years, Surfistas Locales has become an informal organization, network and movement to connect and empower locals in surf towns across the country. They've sponsored the installation of 'Our Rules' signs at popular surf spots to communicate acceptable norms of surf etiquette, including 'respect the locals' at the top of the list, as well as 'hire a local guide if you don't know how to surf' and 'be humble, don't destroy our pura vida'.
Visiting surfers: consider yourselves forewarned.
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Kura Sushi USA Announces Fiscal Third Quarter 2025 Financial Results
Kura Sushi USA Announces Fiscal Third Quarter 2025 Financial Results

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time7 hours ago

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Kura Sushi USA Announces Fiscal Third Quarter 2025 Financial Results

IRVINE, Calif., July 08, 2025 (GLOBE NEWSWIRE) -- Kura Sushi USA, Inc. ('Kura Sushi' or the 'Company') (NASDAQ: KRUS), a technology-enabled Japanese restaurant concept, today announced financial results for the fiscal third quarter ended May 31, 2025. Fiscal Third Quarter 2025 Highlights Total sales were $74.0 million, compared to $63.1 million in the third quarter of 2024; Comparable restaurant sales decreased 2.1% for the third quarter of 2025 as compared to the third quarter of 2024; Operating loss was $0.2 million, compared to an operating loss of $1.2 million in the third quarter of 2024; Net income was $0.6 million, or $0.05 per diluted share, compared to net loss of $0.6 million, or $(0.05) per diluted share, in the third quarter of 2024; Adjusted net income* was $0.6 million, or $0.05 per diluted share, compared to an adjusted net income* of four thousand dollars or $0.00 per diluted share, in the third quarter of 2024; Restaurant-level operating profit* was $13.5 million, or 18.2% of sales; Adjusted EBITDA* was $5.4 million; and Three new restaurants opened during the fiscal third quarter of 2025. *Adjusted net income (loss), Restaurant-level operating profit and Adjusted EBITDA are non-GAAP measures and are defined below under 'Key Financial Definitions.' Please see the reconciliation of non-GAAP measures accompanying this release. See also 'Non-GAAP Financial Measures' below. Hajime Uba, President and Chief Executive Officer of Kura Sushi, stated, 'The third quarter was a very busy one for us, between rolling out the new reservation system, investigating new market opportunities, and building out our IP pipeline and strategizing on how to get the most out of our Bikkurapon collaborations. I'm extremely pleased with the results on all three fronts, and very proud of the efforts by our team members to capture the full opportunity of the summer season and set ourselves up for a great fiscal 2026.' Review of Fiscal Third Quarter 2025 Financial Results Total sales were $74.0 million compared to $63.1 million in the third quarter of 2024. Comparable restaurant sales decreased 2.1%, consisting of negative traffic of 2.9% and price/mix of 0.8% for the third quarter of 2025 as compared to the third quarter of 2024. Food and beverage costs as a percentage of sales were 28.3% compared to 29.2% in the third quarter of 2024. The decrease is primarily due to increases in menu prices and supply chain initiatives, partially offset by food cost inflation. Labor and related costs as a percentage of sales were 33.1% compared to 32.6% in the third quarter of 2024. The increase is primarily due to increases in wage rates, partially offset by increases in menu prices and operational efficiencies. Occupancy and related expenses were $5.5 million compared to $4.3 million in the third quarter of 2024. The increase is primarily due to thirteen new restaurants opening since the third quarter of 2024. Other costs as a percentage of sales were 14.7% compared to 14.1% the third quarter of 2024. The increase is primarily driven by utilities, repairs and maintenance, partially offset by lower marketing expenses. General and administrative expenses were $8.7 million compared to $8.9 million in the third quarter of 2024. As a percentage of sales, general and administrative expenses decreased to 11.8%, as compared to 14.0% in the third quarter of 2024, primarily due to sales leverage and a decrease in professional fees and litigation expenses. Operating loss was $0.2 million compared to an operating loss of $1.2 million in the third quarter of 2024. Income tax expense was $55 thousand compared to income tax expense of $60 thousand in the third quarter of 2024. Net income was $0.6 million, or $0.05 per diluted share, compared to net loss of $0.6 million, or $(0.05) per diluted share, in the third quarter of 2024. Adjusted net income* was $0.6 million, or $0.05 per diluted share, compared to adjusted net income* of four thousand dollars or $0.00 per diluted share, in the third quarter of 2024. Restaurant-level operating profit* was $13.5 million, or 18.2% of sales, compared to $12.6 million, or 20.0% of sales, in the third quarter of 2024. Adjusted EBITDA* was $5.4 million compared to $4.5 million in the third quarter of 2024. Restaurant Development During the fiscal third quarter of 2025, the Company opened three new restaurants in Scottsdale, Arizona; Lynnwood, Washington; and McKinney, Texas. Subsequent to May 31, 2025, the Company opened two new restaurants in The Woodlands, Texas and Salt Lake City, Utah. Fiscal Year 2025 Outlook For the full fiscal year of 2025, the Company updates the following annual guidance: Total sales of approximately $281 million; 15 new restaurants, maintaining an annual unit growth rate above 20%, with average net capital expenditures per unit of approximately $2.5 million; and General and administrative expenses as a percentage of sales to be below 13.0% exclusive of legal settlements. Conference Call A conference call and webcast to discuss Kura Sushi's financial results is scheduled for 5:00 p.m. EDT today. Hosting the conference call and webcast will be Hajime 'Jimmy' Uba, President and Chief Executive Officer, Jeff Uttz, Chief Financial Officer, and Benjamin Porten, SVP Investor Relations & System Development. Interested parties may listen to the conference call via telephone by dialing 201-689-8471. A telephone replay will be available shortly after the call has concluded and can be accessed by dialing 412-317-6671; the passcode is 13751708. The webcast will be available at under the investor relations section and will be archived on the site shortly after the call has concluded. About Kura Sushi USA, Inc. Kura Sushi USA, Inc. is a leading technology-enabled Japanese restaurant concept with 78 locations across 21 states and Washington DC. The Company offers guests a distinctive dining experience built on authentic Japanese cuisine and an engaging revolving sushi service model. Kura Sushi USA, Inc. was established in 2008 as a subsidiary of Kura Sushi, Inc., a Japan-based revolving sushi chain with more than 650 restaurants internationally and 45 years of brand history. For more information, please visit Key Financial Definitions a non-GAAP measure, is defined as net income (loss) before certain items, such as litigation expenses, that the Company believes are not indicative of its core operating results. Adjusted net income (loss) per diluted share represents adjusted net income (loss) divided by the number of diluted shares. a non-GAAP measure, is defined as net income (loss) before interest, income taxes and depreciation and amortization expenses. a non-GAAP measure, is defined as EBITDA plus stock-based compensation expense, non-cash lease expense and asset disposals, closure costs and restaurant impairments, as well as certain items, such as litigation expenses that the Company believes are not indicative of its core operating results. Adjusted EBITDA margin is defined as adjusted EBITDA divided by sales. a non-GAAP measure, is defined as operating income (loss) plus depreciation and amortization expenses; stock-based compensation expense; pre-opening costs and general and administrative expenses which are considered normal, recurring, cash operating expenses and are essential to supporting the development and operations of restaurants; non-cash lease expense; and asset disposals, closure costs and restaurant impairments; less corporate-level stock-based compensation expense recognized within general and administrative expenses. Restaurant-level operating profit (loss) margin is defined as restaurant-level operating profit (loss) divided by sales. refers to the percent change in year-over-year sales for the comparable restaurant base. The Company includes restaurants in the comparable restaurant base that have been in operation for at least 18 full calendar months by the end of the accounting period presented due to new restaurants experiencing a period of higher sales upon opening. For restaurants that were temporarily closed the comparative period was also adjusted accordingly. Non-GAAP Financial Measures To supplement the financial statements presented in accordance with U.S. generally accepted accounting principles ('GAAP'), the Company presents certain financial measures, such as adjusted net income (loss), EBITDA, adjusted EBITDA, adjusted EBITDA margin, restaurant-level operating profit (loss) and restaurant-level operating profit (loss) margin ('non-GAAP measures') that are not recognized under GAAP. These non-GAAP measures are intended as supplemental measures of its performance that are neither required by, nor presented in accordance with, GAAP. The Company is presenting these non-GAAP measures because the Company believes that they provide useful information to management and investors regarding certain financial and business trends relating to its financial condition and operating results. These measures also may not provide a complete understanding of the operating results of the Company as a whole and such measures should be reviewed in conjunction with its GAAP financial results. Additionally, the Company presents restaurant-level operating profit (loss) because it excludes the impact of general and administrative expenses which are not incurred at the restaurant-level. The Company also uses restaurant-level operating profit (loss) to measure operating performance and returns from opening new restaurants. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company's financial measures with those of comparable companies, which may present similar non-GAAP financial measures to investors. However, you should be aware that restaurant-level operating profit (loss) and restaurant-level operating profit (loss) margin are financial measures which are not indicative of overall results for the Company, and restaurant-level operating profit (loss) and restaurant-level operating profit (loss) margin do not accrue directly to the benefit of stockholders because of corporate-level and certain other expenses excluded from such measures. In addition, you should be aware when evaluating these non-GAAP financial measures that in the future the Company may incur expenses similar to those excluded when calculating these measures. The Company's presentation of these measures should not be construed as an inference that its future results will be unaffected by unusual or non-recurring items. The Company's computation of these non-GAAP financial measures may not be comparable to other similarly titled measures computed by other companies, because all companies may not calculate these non-GAAP financial measures in the same fashion. Because of these limitations, these non-GAAP financial measures should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. The Company compensates for these limitations by relying primarily on its GAAP results and using these non-GAAP financial measures on a supplemental basis. Forward-Looking Statements Except for historical information contained herein, the statements in this press release or otherwise made by the Company's management in connection with the subject matter of this press release are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) and involve risks and uncertainties and are subject to change based on various important factors. This press release includes forward-looking statements that are based on management's current estimates or expectations of future events or future results. These statements are not historical in nature and can generally be identified by such words as 'target,' 'may,' 'might,' 'will,' 'objective,' 'intend,' 'should,' 'could,' 'can,' 'would,' 'expect,' 'believe,' 'design,' 'estimate,' 'continue,' 'predict,' 'potential,' 'plan,' 'anticipate' or the negative of these terms, and similar expressions. Management's expectations and assumptions regarding future results are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements included in this press release. These risks and uncertainties include but are not limited to: the Company's ability to successfully maintain increases in our comparable restaurant sales; the Company's ability to successfully execute our growth strategy and open new restaurants that are profitable; the Company's ability to expand in existing and new markets; the Company's projected growth in the number of its restaurants; macroeconomic conditions and other economic factors; the Company's ability to compete with many other restaurants; the Company's reliance on vendors, suppliers and distributors, including its majority stockholder Kura Sushi, Inc.; changes in food and supply costs, including the impact of inflation and tariffs; concerns regarding food safety and foodborne illness; changes in consumer preferences and the level of acceptance of the Company's restaurant concept in new markets; minimum wage increases and mandated employee benefits that could cause a significant increase in labor costs, as well as the impact of labor availability; the failure of the Company's automated equipment or information technology systems or the breach of its network security; the loss of key members of the Company's management team; the impact of governmental laws and regulations; volatility in the price of the Company's common stock; and other risks and uncertainties as described in the Company's filings with the Securities and Exchange Commission ('SEC'). These and other factors that could cause results to differ materially from those described in the forward-looking statements contained in this press release can be found in the Company's other filings with the SEC. Undue reliance should not be placed on forward-looking statements, which are only current as of the date they are made. The Company assumes no obligation to update or revise its forward-looking statements, except as may be required by applicable law. Investor Relations Contact:Jeff Priester or Steven Boediarto(657) 333-4010investor@ Kura Sushi USA, of Operations and Comprehensive Income (Loss)(in thousands, except for per share data; unaudited) Three Months Ended May 31, Nine Months Ended May 31, 2025 2024 2025 2024 Sales $ 73,965 $ 63,082 $ 203,315 $ 171,848 Restaurant operating costs: Food and beverage costs 20,928 18,391 58,225 50,691 Labor and related costs 24,478 20,534 68,306 55,712 Occupancy and related expenses 5,538 4,318 15,391 12,179 Depreciation and amortization expenses 3,450 3,124 9,827 8,294 Other costs 10,883 8,920 29,004 24,720 Total restaurant operating costs 65,277 55,287 180,753 151,596 General and administrative expenses 8,741 8,857 28,459 25,634 Depreciation and amortization expenses 109 107 328 318 Total operating expenses 74,127 64,251 209,540 177,548 Operating loss (162 ) (1,169 ) (6,225 ) (5,700 ) Other expense (income): Interest expense 30 15 56 35 Interest income (812 ) (686 ) (2,236 ) (2,280 ) Income (loss) before income taxes 620 (498 ) (4,045 ) (3,455 ) Income tax expense 55 60 132 148 Net income (loss) $ 565 $ (558 ) $ (4,177 ) $ (3,603 ) Net income (loss) income per Class A and Class B shares Basic $ 0.05 $ (0.05 ) $ (0.35 ) $ (0.32 ) Diluted $ 0.05 $ (0.05 ) $ (0.35 ) $ (0.32 ) Weighted average Class A and Class B shares outstanding Basic 12,086 11,188 11,855 11,167 Diluted 12,311 11,188 11,855 11,167 Other comprehensive income (loss): Unrealized loss on short-term investments $ (8 ) (76 ) $ (8 ) (43 ) Comprehensive income (loss) $ 557 $ (634 ) $ (4,185 ) $ (3,646 ) Kura Sushi USA, Balance Sheet Data and Selected Operating Data(in thousands, except restaurants and percentages; unaudited) May 31, 2025 August 31, 2024 Selected Balance Sheet Data: Cash and cash equivalents $ 47,132 $ 50,986 Total assets $ 419,373 $ 328,522 Total liabilities $ 192,369 $ 165,984 Total stockholders' equity $ 227,004 $ 162,538 Three Months Ended May 31, Nine Months Ended May 31, 2025 2024 2025 2024 Selected Operating Data: Restaurants at the end of period 76 63 76 63 Comparable restaurant sales performance (2.1 )% 0.6 % (1.9 )% 2.4 % EBITDA $ 3,397 $ 2,062 $ 3,930 $ 2,912 Adjusted EBITDA $ 5,410 $ 4,451 $ 11,656 $ 9,068 Adjusted EBITDA margin 7.3 % 7.1 % 5.7 % 5.3 % Operating loss $ (162 ) $ (1,169 ) $ (6,225 ) $ (5,700 ) Operating loss margin (0.2 )% (1.9 )% (3.1 )% (3.3 )% Restaurant-level operating profit $ 13,492 $ 12,604 $ 36,423 $ 33,874 Restaurant-level operating profit margin 18.2 % 20.0 % 17.9 % 19.7 % Kura Sushi USA, of Net Income (Loss) and Net Income (Loss) Per Diluted Share toAdjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Diluted Share(in thousands, except for per share data; unaudited) Three Months Ended May 31, Nine Months Ended May 31, 2025 2024 2025 2024 Net income (loss) $ 565 $ (558 ) $ (4,177 ) $ (3,603 ) Litigation(3) — 562 2,105 767 Adjusted net income (loss) $ 565 $ 4 $ (2,072 ) $ (2,836 ) Net income (loss) per Class A and Class B diluted shares $ 0.05 $ (0.05 ) $ (0.35 ) $ (0.32 ) Litigation(3) — 0.05 0.18 0.07 Adjusted net income (loss) per Class A and Class B diluted shares $ 0.05 $ 0.00 $ (0.17 ) $ (0.25 ) Weighted average Class A and Class B shares outstanding Diluted shares 12,311 11,188 11,855 11,167 Adjusted diluted shares 12,311 11,531 11,855 11,167 Kura Sushi USA, of Net Income (Loss) to EBITDA and Adjusted EBITDA(in thousands; unaudited) Three Months Ended May 31, Nine Months Ended May 31, 2025 2024 2025 2024 Net income (loss) $ 565 $ (558 ) $ (4,177 ) $ (3,603 ) Interest income, net (782 ) (671 ) (2,180 ) (2,245 ) Income tax expense 55 60 132 148 Depreciation and amortization expenses 3,559 3,231 10,155 8,612 EBITDA 3,397 2,062 3,930 2,912 Stock-based compensation expense(1) 1,293 1,197 3,500 3,169 Non-cash lease expense(2) 720 630 2,121 2,220 Litigation(3) — 562 2,105 767 Adjusted EBITDA $ 5,410 $ 4,451 $ 11,656 $ 9,068 Kura Sushi USA, of Operating Loss to Restaurant-level Operating Profit(in thousands; unaudited) Three Months Ended May 31, Nine Months Ended May 31, 2025 2024 2025 2024 Operating loss $ (162 ) $ (1,169 ) $ (6,225 ) $ (5,700 ) Depreciation and amortization expenses 3,559 3,231 10,155 8,612 Stock-based compensation expense(1) 1,293 1,197 3,500 3,169 Pre-opening costs(4) 404 861 1,305 2,611 Non-cash lease expense(2) 720 630 2,121 2,220 General and administrative expenses 8,741 8,857 28,459 25,634 Corporate-level stock-based compensation in general and administrative expenses (1,063 ) (1,003 ) (2,892 ) (2,672 ) Restaurant-level operating profit $ 13,492 $ 12,604 $ 36,423 $ 33,874 ________________ (1) Stock-based compensation expense includes non-cash stock-based compensation, which is comprised of restaurant-level stock-based compensation included in labor and related costs and corporate-level stock-based compensation included in general and administrative expenses in the statements of operations and comprehensive income (loss). (2) Non-cash lease expense includes lease expense from the date of possession of our restaurants that did not require cash outlay in the respective periods. (3) Litigation includes expenses related to legal claims or settlements. (4) Pre-opening costs consist of labor costs and travel expenses for new employees and trainers during the training period, recruitment fees, legal fees, cash-based lease expenses incurred between the date of possession and opening day of our restaurants, and other related pre-opening costs.

Who Is The World's Top Natural Gas Producer?
Who Is The World's Top Natural Gas Producer?

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Who Is The World's Top Natural Gas Producer?

This article was first published on Rigzone here According to the Energy Institute's (EI) latest statistical review of world energy, which was released recently, the world's top natural gas producer last year was the United States. The U.S. produced 37.19 exajoules of natural gas in 2024, which represented a yearly reduction of 0.3 percent and 25.0 percent of total natural gas output last year, the review outlined. From 2014 to 2024, U.S. production of natural gas has grown by an average rate of 3.9 percent per year, the review showed. U.S. natural gas production came in at 25.37 exajoules in 2014, 26.65 exajoules in 2015, 26.18 exajoules in 2016, 26.90 exajoules in 2017, 30.27 exajoules in 2018, 33.41 exajoules in 2019, 33.29 exajoules in 2020, 34.00 exajoules in 2021, 35.67 exajoules in 2022, and 37.19 exajoules in 2023, according to the EI's review. Russia was shown to be the second biggest natural gas producer last year in the EI's latest statistical review of world energy, which pointed out that the country produced 22.68 exajoules of natural gas in 2024. That figure represented a 7.1 percent year on year increase and 15.3 percent of global natural gas production last year, the review pointed out. From 2014 to 2024, Russia has seen its natural gas output increase by an average rate of 0.6 percent every year, the review highlighted. Iran ranked as the third biggest natural gas producer in 2024 in the EI's review, with 9.46 exajoules. That figure marked a year on year increase of 0.9 percent and 6.4 percent of global natural gas production last year, according to the review, which outlined that, from 2014 to 2024, Iran's natural gas output has grown by an average rate of 4.1 percent every year. Total world natural gas production came in at 148.48 exajoules in 2024, according to the EI's latest statistical review of world energy, which outlined that OECD countries delivered 39.3 percent of the total output and non-OECD countries delivered 60.7 percent. Take control of your THOUSANDS of Oil & Gas jobs on Search Now >> The total world natural gas production figure in the EI's latest statistical review of world energy was a 1.2 percent year on year increase, the report showed. From 2014 to 2024, total world natural gas output has grown by an average of 1.8 percent every year, the review highlighted. In its review, the EI pointed out that its natural gas production figures exclude gas flared or recycled and include natural gas produced for gas to liquids transformation. 'In 2024, global gas production increased by 1.2 percent to 4,124 billion cubic meters,' the EI stated in its review. 'The four largest producers are the U.S., Russia, Iran, and China who, together, account for 53 percent of total global production,' it added. A release posted on EI's website last month announcing the launch of the review noted that the EI statistical review of world energy analyzes data on world energy markets from the prior year. 'It has been providing timely, comprehensive and objective data to the energy community since 1952, originally from BP and, since 2023, under the custodianship of the EI and its co-authors KPMG and Kearney,' the release stated. 'The statistical review continues to be full, first, and free: the fullest, most reliable account of energy production, consumption, trade and emissions; the first data source to provide a complete global picture of the previous year; and completely free to access for users,' the release continued. The EI released its first, and the overall 72nd, annual edition of the Statistical Review of World Energy back in June 2023. The latest statistical review of world energy marks the overall 74th edition of the resource. To contact the author, email More From The Leading Energy Platform: Cyprus Announces New Gas Discovery in Block 10 Iberdrola Approves Supplemental Dividend for 2024 Great British Energy Gets Permanent CEO How Close Did Iran Come to Shutting Strait of Hormuz? >> Find the latest oil and gas jobs on << Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Gov. Mike DeWine signs Ohio's $60 billion budget, issues 67 line-item vetoes
Gov. Mike DeWine signs Ohio's $60 billion budget, issues 67 line-item vetoes

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time14 hours ago

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Gov. Mike DeWine signs Ohio's $60 billion budget, issues 67 line-item vetoes

COLUMBUS, Ohio (WCMH) – Gov. Mike DeWine signed the Ohio's $60 billion budget into law late Monday, just 45 minutes before the midnight deadline. The 2026-27 measure, which was approved in both state chambers last week, earmarks $600 million in taxpayer dollars for a new Cleveland Browns stadium in Brook Park. The money will come from the state's unclaimed funds trust. DeWine also signed the provision changing Ohio's income tax to a flat tax rate into law. Columbus to pay $800K to settle 2020 protest lawsuit A spokesperson for the governor's office said that DeWine issued 67 vetoes, the most of his two terms as governor. 'This budget builds upon my commitment to make Ohio the best place for everyone to live their version of the American Dream,' DeWine said in a released statement. 'It prioritizes our children, empowers our workforce, and strengthens our communities. We are investing in the people of Ohio, not just today, but for generations to come.' 'As Ohio continues to attract more jobs, it's important that the state continues to invest in our workforce,' Lt. Gov. Jim Tressel said. 'The budget Governor DeWine signed today does just that and much, much more. It enhances support for career-technical education, job training, and apprenticeship programs tailored to Ohio's industries. These investments will help all Ohioans live up to their God-given potential.' In a statement, the Ohio Democratic Party slammed the budget as, 'disastrous' writing in part, 'Instead of supporting Ohio families, the Republican legislature passed a budget that only helps their billionaire friends and special interests.' The governor issued 67 vetoes with many of those issues pertaining to education. One of the most notable vetoes includes the cash balance, carry over veto, which would have placed a 40% cap on the amount of collected property tax that public school districts can carry over from the previous year. DeWine said while the intention to save taxpayer dollars is understandable, it would lead to more districts asking taxpayers to pass levies more often, which would then increase property taxes instead of reducing them. DeWine also vetoed the Non-Chartered Education Savings account program. It would have allowed students attending non-chartered, non-public schools to receive state funding. 'Diet weed' regulation fails again at Ohio Statehouse But the governor says it risks taxpayer dollars on programs that may have compromised educational quality, or it could risk student safety referencing issues to former NCNP school Bishop Sycamore. However, the governor says this veto also restores a personal income tax credit for NCNP schools. Another notable veto was on restrictions on public libraries. The governor called the restrictions vague and said that Ohio already has strict laws on obscenity and material harmful to children and he expects that those laws will be enforced. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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