Trump's Tax Law to Cut US Clean Energy Installs 41%, BNEF Says
Deployments will fall to 48 gigawatts in 2028 when wind and soalr projects will lose eligibility for the tax incentives, according to a report Thursday from BloombergNEF. That's compared to 81 gigawatts the prior year as developers race to complete projects before the cutoff date.
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Yahoo
2 minutes ago
- Yahoo
OPEC+ Just Flooded the Market--Now It Might Pull the Plug
OPEC+'s oil strategy just took a sharp turn and it might not be the last. Over the weekend, the group finalized the return of 2.2 million barrels per day to the global market, wrapping up its post-2023 unwind. But insiders say this might just be the setup for the next move. Delegates emphasized that everything is still on the table: more increases, a pause, or even a full reversal. The group's next meeting is scheduled for September 7 and it could mark the start of another major pivot. Warning! GuruFocus has detected 9 Warning Signs with GS. On paper, demand has held up. But beneath the surface, cracks are forming. The International Energy Agency projects a 2 million barrel-per-day surplus by Q4, driven by slowing Chinese growth and swelling supply from the Americas. Crude futures are already down 6.6% this year to under $70 per barrel, and Wall Street doesn't look optimistic with Goldman Sachs (NYSE:GS) and JPMorgan (NYSE:JPM) warning prices could drift toward $60. That's well below what many OPEC+ members need to balance their budgets. Most traders Bloomberg surveyed expect the group to hold steady for now. But if U.S. supply slips or macro conditions turn, analysts like Eurasia Group's Greg Brew say more barrels could still come back online. Overlay that with rising geopolitical heat, and the picture gets even murkier. President Donald Trump is ramping up pressure on Russia over Ukraine, threatening secondary sanctions on buyers of Russian oil. Last week, Russian Deputy Prime Minister Alexander Novak made a high-profile visit to Riyadh, underscoring Moscow's ties with Saudi Arabia. But the tension is real and growing. Analysts say the alliance could face its toughest test yet: defend market share by bringing back the final 1.66 million barrels per day still offline, or maintain unity under increasing global pressure. Either way, September's meeting could be a turning point for global oil markets. This article first appeared on GuruFocus. Sign in to access your portfolio
Fast Company
3 minutes ago
- Fast Company
Bullish IPO aims to capture OpenAI-era enthusiasm for high-risk tech
Traders in the stock market can decide next week if they feel 'bullish' about Bullish, as the cryptocurrency exchange announced today it plans to raise as much as $629.3 million in its U.S. initial public offering. The Cayman Islands-based company plans to offer 20.3 million shares for $28 to $31 each when it lists on the New York Stock Exchange. That would mean the company is valued at as much as $4.2 billion, making it the latest digital asset firm to court investors in the stock market. Bullish has applied for the ticker symbol 'BLSH,' and the IPO is expected to price on Aug. 12. The company launched in 2021 as a spin-off of with an initial investment of $10 billion from backers that included Peter Thiel. In 2023, Bullish acquired the crypto media brand CoinDesk. Crypto goes IPO Crypto companies have been a hot spot in what's been a pretty slow IPO market this year—and investors have been more than eager to snatch up shares. Circle Internet Group went public in June, and its shares surged nearly 750% above its IPO price in less than a month. And there's already robust demand for Bullish shares: Funds and accounts managed by BlackRock and ARK Investment Management are separately interested in buying as much as $200 million of shares in aggregate at the IPO price, according to the company's filing with the U.S. Securities and Exchange Commission. Bullish offers an interesting read on how far Wall Street has come to embrace crypto assets. The company, which offers crypto spot trading, margin trading, and derivatives trading, notes in its SEC paperwork that institutional investors account for a 'significant' portion of its customer base. Tom Farley, who joined Bullish as CEO in 2023, wrote a letter in the SEC filing documenting his own introduction to digital assets, which began while he was president of the New York Stock Exchange. He recalled that his first lesson in crypto happened on a sunny summer day in 2014 while sitting on his porch with a neighbor who was enthusiastic about joining Coinbase, then a blockchain technology startup. Bullish banks on Trump-era momentum The continued growth of digital assets, which Bullish says have become established as a 'mainstream component of the global financial system,' will be a major driver of business growth, along with other positive trends that include greater adoption by traditional financial institutions and increasing regulatory clarity. Various steps taken by Donald Trump 's administration have helped to invigorate the crypto market, and the president is name-dropped a handful of times in the filing paperwork. While the successful debut of Circle could bode well for Bullish, investors have already cooled on eToro, which went public in May. While eToro shares are still trading above the $52-per-share IPO price, they have fallen nearly 13% from where the stock began trading. Of note, the SEC filing shows that Bullish reported a net loss of nearly $349 million in the three months ended March, compared with a profit of almost $105 million in 2024. And in 2022, the company scrapped an attempt to go public through a special purpose acquisition company (SPAC).
CNET
3 minutes ago
- CNET
I Finally Found an Electric Griddle That Can Stand Up to My Favorite Cooking Utensils
Nonstick electric griddles and I are frenemies. No matter how much I avoid metal cooking utensils, scratches inevitably render each griddle's nonstick surface unusable within five years. That is, until I found the Presto 07062 Electric Griddle. The last time I retired a griddle, I replaced it with this pricier ceramic model, and that Presto product has been a scratch-free cornerstone of my kitchen ever since. Its staying power makes it an easy recommendation for folks seeking a great gift for themselves or for another home cook. Right now this Presto griddle is available on Amazon for $60 -- a discount of 14% or $10. Although it's more expensive than some other electric griddles, its durability means you'll get more bang for your buck. The durable nonstick coating is what makes this a long-lasting kitchen appliance Over the last five years, I've seen my cast-aluminum Presto ceramic griddle take a beating without losing its nonstick properties, and its performance easily outshines its few flaws. The biggest shortcoming is that the textured ceramic cooking surface has tiny channels that love to absorb oil. Even nonstick cookware works best with a little oil. With enough time and heat, this trapped oil cooks onto the griddle surface above the heating elements and spreads from there. Regular cleaning only slows the oil's progress across your griddle, so this isn't the best fit if you prefer your cookware to look as pristine as the day you bought it. I'll admit that some blame lies with me -- I could've deep-cleaned it more often by making a baking soda paste mentioned by the manufacturer. It really does work, but it's a long process compared to a quick wash in the sink. Looking for more deals? CNET Deals texts are free, easy and save you money. But despite the battle-worn appearance of my griddle, I haven't noticed a decline in nonstick performance due to the oil deposits forming a coating that's not unlike the seasoning on a cast-iron griddle. I can't vouch for intentionally seasoning this Presto griddle, but my accidental results suggest that it's possible. John Carlsen/CNET At the end of the day, I can't complain about its cooking performance relative to other electric griddles I've used. And the durability of its nonstick ceramic surface means it will likely outlast other, less expensive options. For other kitchen tech we've personally tested and come to love, check out my colleague's favorite all-in-one kitchen appliance and her favorite blender.
