With the Modern Solar Minimum upon us, better get used to colder winters over the next 3 decades. Solar Cycle 24 (December 2008 – December 2019) is recorded as the weakest in magnitude since 1957 (Hajra, 2021). That cycle is consistent with the so-called “hiatus” that ran through 2013. Here is how Cycle 24 fitsContinue reading “The Blackouts That Go With Going Green”
Europe has been taking it on the chin this month pushing up European power and gas prices to their highest levels in years, and record spikes in power markets. “The current cold spell in the northern hemisphere is paving way for a tighter global gas market throughout the year,” said Massimo Di Odoardo, director ofContinue reading “Solar Minimum and Plunging Cold”
Per WSJ: Global appetite for oil will remain subdued in the first quarter of 2021 due to coronavirus lockdown measures and rising infection rates, the Organization of the Petroleum Exporting Countries said Thursday. In its monthly report, OPEC maintained its forecast that world oil demand in 2021 won’t recover to the levels seen before theContinue reading “Capped Demand”
“China imported 1.1 million tons of corn in September, a jump of 675% from a year earlier, according to official customs data. That was the highest level since 2016. Between January and September, inbound shipments climbed 73% to 6.67 million tons, the highest since at least 2005, data showed.” https://www.bloombergquint.com/china/china-s-2020-corn-imports-are-already-the-highest-in-15-years#:~:text=China%20imported%201.1%20million%20tons,at%20least%202005%2C%20data%20showed.
Carloads and intermodal units up 2.2% YoY. Four carload commodities showed increases over 2019, led by grain, up 23.9%; six were down, most notably coal (minus-20.1%) and petroleum and petroleum products (minus-19.1%). For the year to date, total traffic is down 9.8%, with intermodal units down 5.1% and carloads down 14.9%. https://trn.trains.com/news/news-wire/2020/10/21-intermodal-traffic-remains-up-carloads-still-down-aar-statistics-show