Rebuilding Infrastructure May Be Profitable for the Very Rich
President-elect Donald J. Trump advocates big spending on infrastructure. Someone will profit, but it may not be mutual fund investors.
Natural gas prices in 2016 were the lowest in nearly 20 years
(Fri, 13 Jan 2017) Natural gas spot prices in 2016 averaged $2.49 per million British thermal units (MMBtu) at the national benchmark Henry Hub, the lowest annual average price since 1999. The monthly average price fell below $2.00/MMBtu from February through May, but later increased, ending the year at an average of $3.58/MMBtu in December.
Crude oil prices expected to increase slightly through 2017 and 2018
(Thu, 12 Jan 2017) The U.S. Energy Information Administrationâs January <em>Short-Term Energy Outlook</em> (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) crude oil prices to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. These prices are expected to rise to $56/b and $55/b, respectively, in 2018.
Elaine Chao Gets Cozy Reception at Confirmation Hearing
Ms. Chao sailed through the hearing to become transportation secretary with little difficulty, offering remarkably few specifics but many promises of cooperation.
Will the bears of steel markets bite back in 2017?
Consensus forecasts suggest iron ore delivered into China will average around $55-$60/dry mt this year.
Wholesale power prices in 2016 fell, reflecting lower natural gas prices
(Wed, 11 Jan 2017) Average wholesale electricity prices at major trading hubs across the United States during the first quarter of 2016 were significantly lower than during the same period in 2015, ranging from 24% lower in California to 64% lower in New England.
Renewable generation capacity expected to account for most 2016 capacity additions
(Tue, 10 Jan 2017) Once final data are in, EIA expects 24 gigawatts (GW) of new generating capacity to be added to the power grid during 2016. For the third consecutive year, more than half of these additions are renewable technologies, especially wind and solar.
Coal production declines in 2016, with average coal prices below their 2015 level
(Mon, 09 Jan 2017) U.S. coal production in 2016 is expected to total 743 million short tons (MMst), 17% lower than in 2015, and the lowest level since 1978. Falling production in 2016 continues an eight-year decline from peak production in 2008.
Did We Take Low Interest Rates for Granted?
The country had the perfect opportunity to invest in infrastructure and squandered it.
U.S. gasoline prices in 2016 were the lowest since 2004
(Fri, 06 Jan 2017) U.S. regular retail gasoline prices averaged $2.14 per gallon (gal) in 2016, 29 cents/gal (12%) less than in 2015 and the lowest annual average price since 2004. Lower crude oil prices in 2015 were the main cause of lower gasoline prices. In 9 of the 10 cities for which EIA collects weekly retail price data, gasoline prices did not exceed $3.00/gal.