AI Has Already Minted 500,000 New Millionaires in 2 Years...

If you missed out on the riches from AI the past 12 months, listen up: A brand new AI "wealth wave" is already hitting the markets... and could pay out even more than what we've already seen. There's still time to get into AI as an investor in this "Bot Com Revolution" and avoid getting left behind.

Donald Trump's call for 'energy dominance' is likely to run into real-world limits

MATTHEW DALY
November 29, 2024

WASHINGTON (AP) -- President-elect Donald Trump is set to create a National Energy Council that he says will establish American "energy dominance" around the world as he seeks to boost U.S. oil and gas drilling and move away from President Joe Biden's focus on climate change.

The energy council -- to be led by North Dakota Gov. Doug Burgum, Trump's choice to head the Interior Department -- will be key in Trump's pledge to "drill, drill, drill" and sell more oil and other energy sources to allies in Europe and around the globe.

The new council will be granted sweeping authority over federal agencies involved in energy permitting, production, generation, distribution, regulation and transportation, with a mandate to cut bureaucratic red tape, enhance private sector investments and focus on innovation instead of "totally unnecessary regulation," Trump said.

But the president-elect's energy wishes are likely to run into real-world limits. For one, U.S. oil production under Biden is already at record levels. The federal government cannot force companies to drill for more oil, and production increases could lower prices and reduce profits.

A call for energy dominance -- a term Trump also used in his first term as president -- "is an opportunity, not a requirement,'' for the oil industry to move forward on drilling projects under terms that are likely to be more favorable to industry than those offered by Biden, said energy analyst Kevin Book.

Whether Trump achieves energy dominance -- however he defines it -- "comes down to decisions by private companies, based on how they see supply-demand balances in the global marketplace,'' said Book, managing partner at ClearView Energy Partners, a Washington research firm. Don't expect an immediate influx of new oil rigs dotting the national landscape, he said.

Trump's bid to boost oil supplies -- and lower U.S. prices -- is complicated by his threat this week to impose 25% import tariffs on Canada and Mexico, two of the largest sources of U.S. oil imports. U.S. The oil industry warned the tariffs could raise prices and even harm national security.

"Canada and Mexico are our top energy trading partners, and maintaining the free flow of energy products across our borders is critical for North American energy security and U.S. consumers," said Scott Lauermann, speaking for the American Petroleum Institute, the oil industry's top lobbying group.

American Fuel & Petrochemical Manufacturers, which represents U.S. refineries, also opposes potential tariffs, saying in a statement that "American refiners depend on crude oil from Canada and Mexico to produce the affordable, reliable fuels consumers count on every day."

Scott Segal, a former Bush administration official, said the idea of centering energy decisions at the White House follows an example set by Biden, who named a trio of White House advisers to lead on climate policy. Segal, a partner at the law and policy law firm Bracewell, called Burgum "a steady hand on the tiller" with experience in fossil fuels and renewables.

And unlike Biden's climate advisers -- Gina McCarthy, John Podesta and Ali Zaidi -- Burgum will probably take his White House post as a Senate-confirmed Cabinet member, Segal said.

Dustin Meyer, senior vice president of policy, economics and regulatory affairs at the American Petroleum Institute, called the new energy council "a good thing" for the U.S. economy and trade. "Conceptually it makes a lot of sense to have as much coordination as possible," he said.

Still, "market dynamics will always be the key'' for any potential increase in energy production, Meyer said.

Jonathan Elkind, a senior research scholar at Columbia University's Center on Global Energy Policy, called energy dominance a "deliberately vague concept," but said, "It's hard to see how (Trump) can push more oil into an already saturated market."

Trump has promised to bring gasoline prices below $2 a gallon, but experts call that highly unlikely, since crude oil prices would need to drop dramatically to achieve that goal. Gas prices averaged $3.07 nationally as of Wednesday, down from $3.25 a year ago.

Elkind and other experts said they hope the new energy council will move beyond oil to focus on renewable energy such as wind, solar and geothermal power, as well as nuclear. None of those energy resources produces greenhouse gas emissions that contribute to climate change.

"Failure to focus on climate change as an existential threat to our planet is a huge concern and translates to a very significant loss of American property and American lives,'' said Elkind, a former assistant energy secretary in the Obama administration. He cited federal statistics showing two dozen weather disasters this year that caused more than $1 billion in damage each. A total of 418 people were killed.

Trump has played down risks from climate change and pledged to rescind unspent money in the Inflation Reduction Act, Biden's landmark climate and health care bill. He also said he will stop offshore wind development when he returns to the White House in January.

Even so, his Nov. 15 announcement of the energy council says he will "expand ALL forms of energy production to grow our Economy and create good-paying jobs."

That includes renewables, said Safak Yucel, associate professor at Georgetown University's McDonough School of Business.

"The mandate for the energy council is U.S. dominance globally, but what's more American than American solar and American wind?'' he asked. A report from Ernst & Young last year showed that solar was the cheapest source of new-build electricity in many markets.

Trump, in his statement, said he wants to dramatically increase baseload power to lower electricity costs, avoid brownouts and "WIN the battle for AI superiority."

In comments to reporters before he was named to the energy post, Burgum cited a similar goal, noting increased demand for electricity from artificial intelligence, commonly known as AI, and fast-growing data centers. "The AI battle affects everything from defense to health care to education to productivity as a country,? Burgum said.

While Trump mocks the climate law as the "green new scam," he is unlikely to repeal it, Yucel and other experts said. One reason: Most of its investments and jobs are in Republican congressional districts. GOP members of Congress have urged House Speaker Mike Johnson to retain the law, which passed with only Democratic votes.

"A lot of Southern states are telling Trump, 'We actually like renewables,'" Yucel said, noting that Republican-led states have added thousands of jobs in recent years in wind, solar and battery power.

If renewables make economic economic sense, he added, "they'll continue.''

Continue Reading...

Popular

Expanded College Football Playoff field draws more bets and on more teams

LAS VEGAS (AP) — If Texas coach Steve Sarkisian holds aloft the College Football Playoff trophy next month, that will be bad news for BetMGM Sportsbook.

XRP Poised For 'Brief Correction,' But Here's Why It Could Go To $4

With Ripple's regulatory approval to launch its RLUSD stablecoin, anticipation is mounting about the trajectory of XRP (CRYPTO: XRP) prices following the launch.

AI-Driven Security: A Market Set to Explode - Ad

The future of AI is here, and it's in security robotics. One company is capitalizing on this growing demand, already securing major contracts and scaling rapidly. This could be the next big opportunity in AI. Want to know the details?

Senate begins final push to expand Social Security benefits for millions of people

WASHINGTON (AP) — The Senate is pushing toward a vote on to millions of people, setting up potential passage in the final days of the lame-duck Congress.

Louise Trotter is named creative director of Bottega Veneta, as Matthieu Blazy moves on

MILAN (AP) — Kering announced Thursday that Louise Trotter has been named creative director of the fashion house, taking over from Matthieu Blazy.

Gates-Backed Company Holds the Future of AI - Ad

Bill Gates is making his next big bet. And this time, it's with artificial intelligence. Over the last several years, Gates has quietly invested more than $750 million into this technology. And he's not the only one. Warren Buffett, Peter Thiel, Jeff Bezos, and others are in on it too. In this new exposé, Porter Stansberry shares all the details.

UK leader Starmer invited to EU meeting in latest sign of post-Brexit thaw

LONDON (AP) — will attend a meeting of leaders early next year, becoming the first U.K. prime minister to do so since the country’s in 2020.

Broadcom: Bullish Momentum Builds As Q4 Earnings, Apple Partnership Take Center Stage

Broadcomm (AVGO) to report Q4 earnings on Thursday with expected EPS of $1.38 and revenues of $14.10B. Stock up 70.85% in past year, 22.50% in past 6 months.

What's Going On in This Strange Facility Near Mar-A-Lago? - Ad

Most people have no clue this unassuming facility exists. Yet the minute Donald Trump takes office... This could be the most important building in America. More important than the Capital, the Pentagon... even the White House. Because this may well be the epicenter of Trump's New Manhattan Project.

Commanders hire Campbell's CEO Mark Clouse as their new team president

WASHINGTON (AP) — The hired Mark Clouse as their new team president Tuesday, putting the longtime food executive in charge of all facets of the organization's business operations when he starts in late January.

Crypto Stocks Surge Amid Market Boom - Ad

Crypto stocks are on fire as Bitcoin hits all-time highs. One under-the-radar company is leading the charge, managing $2.1 billion in client assets and seeing record trading volumes. With crypto adoption skyrocketing, this could be a game-changing opportunity.

Juan Soto's $765M deal with the Mets is the largest in MLB history. Here's who he passed

and the New York Mets agreed to a Sunday night, a person familiar with the deal told The Associated Press. The person spoke on the condition of anonymity because the agreement hadn't been announced and was subject to the completion of a successful physical.

At the crossroads of news and opinion, 'Morning Joe' hosts grapple with aftermath of Trump meeting

One of the striking things about how furiously many people reacted to the news last week that MSNBC “Morning Joe” hosts Joe Scarborough and Mika Brzezinski was how quaint their defenders sounded.

The REAL "Wealth Wave" in AI is Starting Now! - Ad

If you missed out over the past 12 months... If you are NOT one of the 500,000 new millionaires from AI in the past two years... Are you going to miss your second chance?

Fortnite players 'tricked' into unwanted purchases are starting to get refunds. Here's how to apply

NEW YORK (AP) — U.S. consumers who were “tricked” into purchases they didn't want from Fortnite maker are now starting to receive refund checks, the Federal Trade Commission said this week.

Do NOT Buy Nvidia, Apple, Microsoft, Meta, Tesla, or ANY Major Tech Stock... - Ad

31 billionaires (including: Warren Buffett, Elon Musk, Jeff Bezos, and more) are quietly unloading shares of their OWN stocks at RECORD pace... But why? Wall Street legend Eric Fry says it's because, soon: "America's most popular stocks like Nvidia, Apple, Meta, Tesla, and thousands more... are set to come plummeting back to Earth." Erasing YEARS of investor profits... Sparking a $17 trillion PANIC on Wall Street...

Hunt for the gunman who killed UnitedHealthcare's CEO heads into third day as new clues emerge

NEW YORK (AP) — As the investigation into a masked gunman who the head of one of the largest U.S. health insurers moved into its third day Friday, possible leads emerged about his travel before the shooting and a message scrawled on ammunition found at the crime scene.

US hiring likely rebounded last month after storms and strikes curtailed October job growth

WASHINGTON (AP) — Hiring in the United States likely rebounded last month from a dismal October, when hurricanes and strikes reduced job growth to its lowest level in nearly four years.

Crypto Stocks Are Heating Up - Ad

At the center of this transformation is a game-changing platform that's experiencing explosive growth with $41 million in revenue in just nine months. The stock has doubled in the last 45 days, but this is only the beginning.

Argentina's Milei marks one year in office. Here's how his shock measures are reshaping the economy

BUENOS AIRES, Argentina (AP) — When assumed office one year ago, Argentine supermarkets were marking price increases on an almost daily basis. Middle-class families tried to spend their rapidly depreciating pesos as quickly as they got them, and economists warned the country was teetering on the brink of hyperinflation.

SEC Approves America's First 24-Hour Stock Exchange — What It Means For You

U.S. regulators approved the nation's first 24-hour stock exchange on Wednesday, marking a significant shift in American securities trading as retail investors increasingly demand round-the-clock market access.

Caught On Camera (Shocking New AI Tech) - Ad

AI has already made 500,000 new millionaires over the past two years... The new AI tech you'll see in this video footage will change your life for the better, sooner than you might expect. It will have a bigger impact than the invention of the automobile, personal computer and iPhone, combined...

[VIDEO] Watch Cannabis Farm Rattled By California's 7.0 Earthquake

Watch Humboldt Flower Company earthquake footage as a magnitude 7 quake shakes cannabis grow room, triggering a tsunami warning in California.

My TOP Altcoin for Right Now Is... - Ad

Searching for the top investment opportunity in crypto? Look no further. Our $3 report gives you the full scoop. You'll get this exciting token's name, our recommended investment strategy, and growth projections. Time is of the essence with this one...

Top 3 Risk Off Stocks That May Collapse This Month

Three stocks in the consumer staples sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

What's Going On With NIO Stock Today?

Nio shares gained 12.4% Monday. Shares of U.S.-listed Chinese traded higher following reports suggesting Chinese officials would embrace a "moderately loose" monetary policy.

There's Only ONE AI Company That Matters - Ad

It's not Nvidia, AMD, IBM, or any new startup. It's not even an artificial intelligence company... yet it holds the key to the entire AI market. Get all the details of the critical technology that the entire AI sector needs to survive.

He'll be the last meatpacker in the Meatpacking District. Here's how NYC's gritty 'hood got chic

NEW YORK (AP) — When John Jobbagy’s grandfather immigrated from Budapest in 1900, he joined a throng of European butchers chopping up and shipping off meat in a loud, smelly corner of Manhattan that New Yorkers called the Meatpacking District.

Newmont Lays Off Senior Employees Pursuing More Cost Controls

Newmont Corp. lays off senior employees, sells assets, and streamlines business units in order to increase cash flow and focus on top-tier operations.

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Our #1 pick in decentralized finance is largely overlooked by mainstream investors (for now). This governance token could skyrocket as DeFi adoption surges with the smart money and institutions.

Can AI chatbots make your holiday shopping easier?

Tired of thinking about what gifts to get everyone this year? chatbots might help, but don't expect them to do all the work or always give you the right answers.

UPS to pay $45M to US settle charges that it improperly valued its freight division

UPS will pay $45 million to settle charges that it improperly valued its freight division, the Securities and Exchange Commission announced Friday.

Crypto Stocks Are Heating Up - Ad

At the center of this transformation is a game-changing platform that's experiencing explosive growth with $41 million in revenue in just nine months. The stock has doubled in the last 45 days, but this is only the beginning.

Why Is Telomir Pharmaceuticals Stock Trading Higher On Tuesday?

Telomir Pharmaceuticals unveils preclinical data on Telomir-1, highlighting its potential in Type 2 diabetes, aging, and inflammatory diseases.

What to know about the fatal shooting of the UnitedHealthcare CEO

The chief executive of UnitedHealthcare, one the nation's largest insurers, Wednesday in midtown Manhattan in what police described as a targeted attack by a shooter outside a hotel where the company was holding a conference.

Elon's New Tech Could Be Bigger Than Tesla & SpaceX... Combined - Ad

Forget rockets or brain implants... Elon's new AI product could be his biggest invention yet. Jeff Brown tried it himself recently and caught his experience on camera. See this footage because according to Tesla Magazine, this new product "could well shape the technological and economic future of our society."

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright finstrategist.com
Privacy Policy | Terms of Service