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Eleven EU countries oppose plan to prolong gas project funding


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BRUSSELS (Reuters) - Germany, Denmark, the Netherlands and eight other countries will reject a plan to prolong European Union support for cross-border natural gas projects, and instead push for rules to exclude fossil fuels, according to a document seen by Reuters.
FILE PHOTO: A gas pipeline is pictured at the new gas import terminal of Norway s company Gassco in Emden, Germany, May 24, 2016. REUTERS/Fabian Bimmer/File Photo
The EU’s “TEN-E” rules define which cross-border energy projects can be labelled Projects of Common Interest (PCI), giving them access to certain EU funds and fast-tracked permits.
The EU is rewriting the rules in line with its climate change targets, and in December the European Commission proposed a new version excluding dedicated oil and gas infrastructure. ....

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Acwa Power signs deal with Neutral Fuel to supply biofuel for Saudi Arabia's Red Sea project


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Acwa Power signs deal with Neutral Fuel to supply biofuel for Saudi Arabia s Red Sea project
Dubai-based company will provide the green fuel it developed to power the site’s entire transportation network
The Red Sea Project is designed to enhance the natural environment for future generations. Courtesy The Red Sea Development Company
75 percent of the 90+ islands in the Red Sea Project area have been set aside for conservation, with nine islands designated as areas of significant ecological value. Courtesy Red Sea Development Company
The location of some of the overwater villas at Saudi Arabia s Red Sea Project have been set. Courtesy The Red Sea Development Company ....

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Top Performing ETFs For May 2021


Top Performing ETFs For May 2021
Gold and silver miners as well as oil and energy ETFs dominate the list.
Author:
Gold and silver miners as well as oil and energy ETFs dominate the list.
May was a month of relatively modest returns for U.S. stocks. The S&P 500 (SPY), the Russell 2000 (IWM) and the Nasdaq 100 (QQQ) were all little changed, while U.S. Treasuries were essentially unchanged. International stocks performed better with developed markets gaining around 3% and emerging markets adding 2%.
The big story of the month, however, was the commodities market. Prices on everything from lumber to steel to wheat to oil have been soaring. Industrial commodity prices in some cases have come crashing back down to earth, but precious metals have done well as inflation expectations continue to rise and the dollar continues to fall. ....

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