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Oil little changed as investors weigh Iran talks, demand bump
Andres Guerra Luz and Alex Longley, Bloomberg News Storage tanks located near a dock for Hornbeck Offshore Services, Inc. oil industry support vessels in Port Fourchon, Louisiana, U.S., on Thursday, June 11, 2020. Oil eclipsed $40 a barrel in New York on Friday, extending a slow but relentless rise thatâs been fueled by a pick-up in demand and could signal a reawakening for U.S. shale production. Photographer: Luke Sharrett/Bloomberg , Bloomberg
Oil inched up with the prospect of a continued recovery in demand offsetting some concerns around higher Iranian supplies if sanctions on the countryâs exports are loosened.
EnergyGenex Power secures funding for Australiaâs first pumped hydro project in 40 years
Reuters
2 minutes read
A view of Wises Pit, one of two old gold mine pits that Australian company Genex Power plans to use for a pumped hydro project, in Kidston, northern Queensland, Australia April 4, 2019. Picture taken April 4, 2019. REUTERS/Sonali Paul
Genex Power (GNX.AX) said on Thursday it had secured all funding needed for what will be Australiaâs first new pumped hydro project on the grid in about 40 years, and expects construction to start towards the end of the month.
The power generation company will receive a A$610 million ($471.16 million) loan from the Northern Australia Infrastructure Facility for the 250-MW Kidston project, which is being built at an abandoned gold mine in Queensland.
Since he was appointed by Scott Morrison in late 2018:
First: Relations between the states and the federal government have broken down. That is a failure of politics, not of policy. It’s a sign of a bad politician that he can’t bring a consensus along with him. By contrast, in NSW, state Liberal minister Matt Kean brought everyone along with him for the NSW electricity strategy, except for the party you are basically happy to have opposed to you, namely the “hunters and fishers”. Such a funny, atavistic name.
Second: The federal government has ceded control of the electricity and energy agenda to the states. Because of the lack of credible, or indeed any federal policy, the states have taken matters into their own hands. That’s a failure of politics.