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<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>'s manufacturing sector showcased encouraging growth in May and painted a positive picture for the industry. According to S&amp;P Global's <keyword id="17580586" type="General" weightage="50" keywordseo="india-manufacturing-purchasing-managers" source="Orion">India Manufacturing Purchasing Managers</keyword>' Index, it rose from 57.2 in April to 58.7 in May, indicating the most robust improvement in the health of the sector since October 2020 or a 31-month high. Not only did factory orders increase for the twenty-third month running in May, but also to the greatest extent since January 2021, it said on Thursday. Exports gave impetus to total new orders in May and companies registered the quickest expansion in international sales for six months. "The <keyword id="104215" type="General" weightage="50" keywordseo="pmi" source="Orion">PMI</keyword>'s spotlight on soaring sales showcases robust demand for Indian-made products both domestically and internationally. While the upturn in domestic orders strengthens the foundations of the economy, rising external business foster international partnerships and boost India's position in the global market," said <keyword id="2835710" type="General" weightage="80" keywordseo="pollyanna-de-lima" source="Orion">Pollyanna De Lima</keyword>, Economics Associate Director at S&amp;P Global Market Intelligence. Combined, they also generated more employment opportunities in May, Lima added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/coal-india-ofs-institutional-buyers-portion-oversubscribed-but-stock-falls/articleshow/100675045.cms">Coal India OFS: Institutional buyers portion oversubscribed but stock falls</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ather-announces-new-e-scooter-450s-with-3-kwh-battery-pack/articleshow/100675350.cms">Ather announces new e-scooter '450S' with 3 kWh battery pack</a>

India's manufacturing sector hits 31-month high growth in May

<ul class="summary-list"><li>The Biden administration proposed steep pollution cuts by coal- and gas-fired power plants. </li><li>Most US electricity comes from fossil fuels — the sector creates 25% of the nation's emissions.</li></ul>Coal, like the fossilized plants and animals it's made of, could one day become a relic of America's past.Most of the country's more than <a href="https://www.epa.gov/power-sector/power-plants-and-neighboring-communities" target="_blank" rel="noopener">3,400 fossil-fuel power plants</a> would have to nearly eliminate their planet-warming greenhouse-gas emissions by 2040 <a href="https://www.epa.gov/stationary-sources-air-pollution/greenhouse-gas-standards-and-guidelines-fossil-fuel-fired-power#rule-summary" target="_blank" rel="noopener">under a proposal announced</a> by the Environmental Protection Agency last week. The plan is the latest move by the Biden administration to curb emissions that are fueling the climate crisis. The transportation and electricity sectors are the two largest sources of emissions, with the former accounting for 28% and the latter 25%, <a href="https://www.epa.gov/ghgemissions/sources-greenhouse-gas-emissions#:~:text=The%20largest%20source%20of%20greenhouse,Greenhouse%20Gas%20Emissions%20and%20Sinks." target="_blank" rel="noopener">according to the EPA</a>. The White House is already pushing for a move to electric vehicles to <a href="https://www.epa.gov/newsreleases/biden-harris-administration-proposes-strongest-ever-pollution-standards-cars-and" target="_blank" rel="noopener">reduce emissions from tailpipes</a>.Switching from fossil fuels to renewable energy is key to cutting emissions in half this decade and limiting global warming to 1.5 degrees Celsius compared with preindustrial levels. Climate scientists <a href="https://www.ipcc.ch/report/ar6/wg2/chapter/summary-for-policymakers/" target="_blank" rel="noopener">warn that crossing that temperature threshold</a> would have catastrophic effects such as heat waves, flooding, drought, crop failures, and food insecurity. The world, on average, is <a href="https://earthobservatory.nasa.gov/world-of-change/global-temperatures" target="_blank" rel="noopener">already at least 1.1 degrees</a> Celsius warmer.The EPA estimated that its power-plant proposal would avoid up to 617 million metric tons of carbon-dioxide emissions through 2042 — about the annual emissions of half the cars on the road in the US today. The plan would also put the Biden administration closer to its climate goals.Coal and natural gas <a href="https://www.eia.gov/tools/faqs/faq.php?id=427&amp;t=6" target="_blank" rel="noopener">supply the majority of US electricity</a>, although emissions from the power sector <a href="https://www.epa.gov/trinationalanalysis/greenhouse-gas-reporting-electric-utilities-sector" target="_blank" rel="noopener">have been declining over the past decade</a> as more natural gas and renewables such as solar and wind have been added to the grid and as coal plants close. Natural gas is cleaner than coal, but it produces methane, a potent greenhouse gas that has more than <a href="https://www.edf.org/climate/methane-crucial-opportunity-climate-fight#:~:text=Methane%20has%20more%20than%2080,after%20it%20reaches%20the%20atmosphere" target="_blank" rel="noopener">80 times the warming power</a> of carbon dioxide over the first two decades it's in the atmosphere.Coal plants could also opt to shut down in the first half of the 2030s to avoid meeting most or even all pollution caps. Further closures would continue <a href="https://www.eia.gov/todayinenergy/detail.php?id=54559" target="_blank" rel="noopener">the trend that's already playing out in the coal sector</a>.Here are the 15 states where coal accounts for the largest source of power as of 2021, <a href="https://www.eia.gov/todayinenergy/detail.php?id=54919" target="_blank" rel="noopener">according to the US Energy Information Administration</a>:West Virginia — 91%Missouri — 75%Wyoming — 74%Kentucky — 71%Utah — 62%Indiana — 58%North Dakota — 57%Nebraska — 50%Montana — 44%Wisconsin — 43%Colorado — 42%New Mexico — 36%Arkansas — 35%Michigan — 32%Minnesota — 27%

The US wants to cut carbon emissions from power plants. Here are the 15 states where coal is king.

<ul><li><keyword id="560063" type="ORGANIZATION" weightage="20" keywordseo="Indian-Steel-Industry">Indian steel industry</keyword> on Wednesday welcomed the government's decision to promulgate an ordinance to open up <keyword id="6356966" type="UNKNOWN" weightage="20" keywordseo="coal">coal</keyword> mining in the country to non-coal companies.</li><li>The amendment, ISA said, will remove the end-user restrictions besides allowing seamless transfer of environment and forest clearance in operational mines. </li><li>JSW Steel Chairman Sajjan Jindal said the move will go a long way in reducing the coal imports.</li></ul> Indian steel industry on Wednesday welcomed the government's decision to promulgate an ordinance to open up coal mining in the country to non-coal companies.
In a statement, apex steel industry body Indian Steel Association (ISA) said it hails the decision of the Cabinet to amend MMDR Act 1957 and Coal Mines (Special Provisions) Act 2015.
 "This is a huge reform announced by the government on commercial mining in Coal. This change in Act will help the country to reduce its dependence on coal imports and help attract investments from Indian and Global corporates," it said.
 The amendment, ISA said, will remove the end-user restrictions besides allowing seamless transfer of environment and forest clearance in operational mines.
 The step taken today was a long pending reform which will make the domestic steel industry more competitive on a global level, the association said.
 JSW Steel Chairman Sajjan Jindal said the move will go a long way in reducing the coal imports.
 "Huge reform announced by the government on commercial mining in coal. This will go a long way in reducing the coal imports which is over USD 15 billion/year," he said.
 In today's time when the oil prices are very uncertain, Jindal said, the decision was path breaking in making India self-reliant.
 Continuity of all forest and environment clearances for iron-ore mines for a period of two years is another great reform, he added.
 "This was a long pending reform which will make the Indian Steel industry more aggressive and competitive on a global level," he said.
 JSPL Chairman V R Sharma termed the decision as a 'game changer' for the industry.
 India has reserves for another 300 years and the time is ripe to use it. If it is not utilised now, it wont be able to utilised in future as developed countries are against coal usage.
 "They are spreading on international platforms that using coal is damaging the environment, which is incorrect. Like we do at our Angul plant which is India's first and largest syngas-based DRI plant and coal gasification plant (CGP) for steel-making," he said.
 Coal can be converted into syngas which can be used for producing petrol, diesel and other <keyword id="84980" type="ORGANIZATION" weightage="20" keywordseo="petroleum">petroleum</keyword> products, which can reduce dependence on crude oil imports, he added. The government on Wednesday approved an Ordinance to amend a law in order to ease rules for auctioning of coal mines and opening it for non-coal companies.
 The decision taken by the Cabinet, chaired by Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>, will also do away with end-use restrictions of the mining blocks, Coal Minister Pralhad Joshi said. "The Cabinet has approved promulgation of Mineral Laws (Amendment) Ordinance 2020," the minister said, addressing media after the Cabinet meeting.
 The Ordinance will ease rules for auctioning coal mines to open up to all sectors.
 It will allow auction of 46 iron ore and other mines before March 31, 2020.
 "The Centre has also approved gas grid for Northeast states and viability gap funding for Northeast grid. Viability gap funding for the North-East <keyword id="6354703" type="UNKNOWN" weightage="20" keywordseo="natural-gas">natural gas</keyword> pipeline Grid is a decision that shows the dedication of this government in encouraging growth in this region," ISA said. The government on Wednesday also approved a proposal to provide Rs 5,559 crore viability gap funding for building a 1,656 km gas grid in the Northeast region at a cost of Rs 9,256 crore.
 The decision will provide viability gap funding to Indradhanush Gas Grid Ltd for setting up the North East Natural Gas Pipeline Grid. ABI BAL

Steel players hail govt's decision to open coal sector

<ul class="summary-list"><li>Several countries have cut <keyword id="11917806" type="UNKNOWN" weightage="100" keywordseo="energy" source="Orion">energy</keyword> ties with <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>, while others are snapping up cheap supplies. </li><li>The US, UK, and some EU countries have all taken action. </li></ul>A divided approach toward the <keyword id="13610598" type="UNKNOWN" weightage="60" keywordseo="russian-energy" source="Orion">Russian energy</keyword> trade has become more apparent in recent weeks.While some nations have deliberated or announced bans on Russian <keyword id="11896879" type="UNKNOWN" weightage="60" keywordseo="oil" source="Orion">oil</keyword> and <keyword id="11955852" type="UNKNOWN" weightage="60" keywordseo="gas" source="Orion">gas</keyword> imports, others are doubling down.When Russia launched an unprecedented attack on <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> earlier this year, Western nations joined forces to impose sanctions on the country in an effort to punish Russia for its actions.Punitive measures range from blocking certain Russian banks from accessing the <a href="https://www.businessinsider.com/russia-swift-ban-not-most-effective-sanction-experts-2022-3?r=US&amp;IR=T">SWIFT global banking system</a> to the EU and other European countries <a href="https://www.businessinsider.com/map-shows-countries-that-closed-airspace-russia-over-ukraine-war-2022-3">barring Russian flights from their airspace</a>. As the war continues, countries are now slapping sanctions on Russia's energy sector, which has the <a href="https://www.businessinsider.com/europe-buying-russian-gas-ukraine-invasion-putin-sanctions-2022-2?r=US&amp;IR=T" target="_blank" rel="noopener noreferrer">world's largest natural gas reserves</a> and is the <a href="https://markets.businessinsider.com/news/commodities/too-big-to-sanction-10-facts-russia-oil-commodity-exports-2022-3" target="_blank" rel="noopener noreferrer">third-biggest oil producer</a>, accounting for about 12% of global oil production. Here's how some countries are grappling with Russian energy issues.<h1>Italy</h1>Italy is tempering its reliance on Russian gas by turning to countries like Egypt and Algeria for their energy supplies. Eni, the Italian oil and gas giant, recently signed a framework agreement with state-owned Egyptian Natural Gas Holding Company (EGAS), which it said would help maximize gas production and exports of liquefied natural gas.Per <a href="https://www.reuters.com/business/energy/italy-needs-least-3-years-fully-replace-russian-gas-imports-minister-2022-03-16/">Reuters</a>, Italy sources around 40% of its gas imports from Russia. It has also agreed to <a href="https://www.bloomberg.com/news/articles/2022-04-11/italy-to-buy-more-algerian-gas-in-attempt-to-cut-russia-reliance?sref=lAVQtUwz">ramp up its gas imports from Algeria</a> by around 40% amid the war. <h1>Baltic states </h1>This month, the Baltic states comprising Lithuania, Latvia, and Estonia cut Russian gas imports. "Since April 1st, Russian natural gas is no longer flowing to Latvia, Estonia and Lithuania," Uldis Bariss, CEO of Conexus Baltic Grid, Latvia's natural gas storage operator, <a href="https://www.aljazeera.com/news/2022/4/3/baltic-states-stop-russian-gas-imports-over-ukraine-invasion">per Al Jazeera</a>. Lithuania became the first European country to abandon Russian energy supplies in the wake of the Ukraine war. "If we can do it, the rest of Europe can do it too!" the country's president, Gitanas Nauseda <a href="https://twitter.com/GitanasNauseda/status/1510277034357968898">said on Twitter</a>.<h1>US</h1>Outside of Europe, the <a href="https://www.businessinsider.com/biden-us-ban-russian-oil-natural-gas-coal-imports-report-2022-3">US banned Russian oil and gas imports too</a>. President Joe Biden announced the "powerful blow" against Russian President Vladimir Putin last month."This is a step that we're taking to inflict further pain on Putin, but there will be costs as well here in the United States," Biden said. "I'm going to do everything I can to minimize Putin's price hike here at home."American consumers are feeling the effects of surging gas prices as a result of pandemic-era inflation, coupled with the new sanctions imposed on Russian energy supplies. In March, <a href="https://www.businessinsider.com/gas-prices-highest-since-great-recession-ukraine-crisis-commodity-market-2022-3">the average US gas price-per-gallon jumped above $4 for the first time since 2008</a>.<h1>UK</h1>The UK government recently announced measures against Russian energy supplies, pledging to end all imports of Russian <keyword id="11911392" type="UNKNOWN" weightage="60" keywordseo="coal" source="Orion">coal</keyword> and oil by the end of 2022. "By the end of 2022, the UK will end all dependency on Russian coal and oil, and end imports of gas as soon as possible thereafter," <a href="https://www.gov.uk/government/news/uk-imposes-sweeping-new-sanctions-to-starve-putins-war-machine">the government said</a>. It added that the UK would also ban the export of key oil refining equipment and catalysts, "degrading Russia's ability to produce and export oil." Further sanctions include measures against Aleksander Dyukov, the CEO of Russia's third-largest and majority state-owned oil producer Gazprom Neft. <h1>Germany </h1>The country faces escalating pressures to pull away from Russian energy, though it has been heavily reliant on it, particularly the natural gas that's through the Nord Stream pipeline network.However, cutting Russian ties may prove a lengthy process.Cutting Russian gas from the German economy would significantly impact its manufacturing industry and could lead to rationing schemes, <a href="https://www.businessinsider.com/germany-reliance-russian-energy-ukraine-war-natural-gas-oil-trade-2022-4">Insider's Ben Winck reported</a>. <a href="https://www.bloomberg.com/news/articles/2022-03-23/scholz-says-german-reliance-on-russian-energy-will-end-quickly">Per Bloomberg</a>, German chancellor Olaf Scholz said: "We are actively working to get independent from the necessity of importing gas from Russia. This is, as you may imagine, not that easy because it needs infrastructure that has to be built first."<h1>India and China </h1>Amid a wave of countries cutting Russian energy supplies, India and China stand have taken a different approach.As sweeping sanctions hit Russia's oil exports, prices shot down so much that some buyers from India and China were attracted to snapping up cheap Russian energy, <a href="https://markets.businessinsider.com/news/commodities/russia-crude-oil-west-sanctions-china-india-2022-3">Insider's Huileng Tan reported</a>. <a href="https://www.reuters.com/world/indian-pm-modi-suggests-direct-talks-between-putin-zelenskiy-2022-04-11/">Reuters</a> reported that since Russia's invasion of Ukraine, India had bought at least 13 million barrels of Russian oil. It's not stopping at cheap oil, however. Russian coal remains on India's radar.Ramchandra Prasad Singh, an Indian politician and member of parliament, said at a conference in New Delhi that India is "moving in the direction of importing coking coal from Russia," <a href="https://www.reuters.com/world/india/india-leans-toward-continued-import-russian-coking-coal-minister-2022-03-27/">per Reuters</a>. He added that India had imported 4.5 million tonnes of Russian coal but he did not indicate over what time period. As for China, the country is snapping up Russian oil and coal with its <a href="https://markets.businessinsider.com/news/commodities/dollar-vs-yuan-china-buys-russian-oil-coal-ukraine-sanctions-2022-4">own currency.</a> Smaller independent refiners in China are also still buying Russian oil discreetly, <a href="https://www.reuters.com/business/energy/exclusive-china-state-refiners-shun-new-russian-oil-trades-teapots-fly-under-2022-04-06/">Reuters</a> recently reported.

Many nations are refusing to buy gas and oil from Russia but others continue to snap it up. Here's what we know so far.

<ul class="summary-list"><li><keyword id="11911392" type="UNKNOWN" weightage="60" keywordseo="coal" source="Orion">Coal</keyword> prices have nearly tripled in 2021, with analysts pointing to a confluence of factors.</li><li>It's fueling an <keyword id="11917806" type="UNKNOWN" weightage="60" keywordseo="energy" source="Orion">energy</keyword> crisis in <keyword id="11892748" type="UNKNOWN" weightage="60" keywordseo="china" source="Orion">China</keyword> and threatening the supply chains of companies like Apple and Tesla.</li><li>The Chinese government has begun to slash power use in certain sectors, including the stainless steel and ceramics industries.</li></ul>Coal prices have nearly tripled in 2021, fueling an energy crisis in China and threatening the supply chains of companies including <a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a> and <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>.Coal <a href="https://www.marketwatch.com/investing/future/mtfc00/charts?mod=mw_quote_advanced">futures</a> contracts have surged 31% in September and over 190% so far this year, driven by voracious demand and restricted supply. That has precipitated an electricity crisis in China, which gets around 70% of its power from coal sources.Analysts have pointed to a confluence of factors to explain soaring coal prices. Chief among them is that Chinese coal production growth has lagged at just 6% so far this year, compared to a 14% rise in coal-fired power output over the same period, according to <a href="https://fingfx.thomsonreuters.com/gfx/ce/akvezqybgpr/CHINA%20COAL%20PRODUCTION%20AND%20CONSUMPTION.pdf">Reuters</a>. That's come as Beijing has targeted steep carbon emission reductions.In addition, while China could simply tap its 30% of non-coal energy sources, renewables like hydroelectric power have faltered in recent weeks due to one-off weather events. Meanwhile, municipalities have been hoarding coal ahead of an often-harsh winter season. And importing coal has become political, after Beijing blocked Australian coal imports for demanding an investigation into the origins of COVID-19. Strict border controls in China make the problem worse.Longer term, expectations that green-energy sources will displace coal have limited investment in new mines, meaning little spare capacity exists to make up for shortfalls in production elsewhere. "The result has been a severe depletion of coal inventories which has contributed to low stocks at many power plants and upward pressure on coal prices," wrote Reuters analyst John Kemp on Tuesday.Amid the soaring coal prices, the Chinese government has begun to slash power use in certain sectors, including the stainless steel and ceramics industries. At least 20 regions have announced some degree of power curb, according to Chinese-language industry publication BJX Power.The crisis has begun to spill into the operations of US companies that make goods in China, including Apple and Tesla. A key Apple manufacturer said on Monday that its factories were being hit by the mandatory power curbs, according to <a href="https://www.bloomberg.com/news/articles/2021-09-27/iphone-assembler-starts-energy-saving-measures-in-china">Bloomberg</a>, while Tesla suppliers were <a href="https://asia.nikkei.com/Business/Technology/Key-Apple-Tesla-suppliers-halt-production-amid-China-power-crunch">reporting</a> similar impacts.The state has usually preferred to cut industrial electricity use before it begins barging into consumers' lives. Fixed prices for electricity leave power plants with little incentive to boost output. But some voices are now advocating raising electricity prices to combat the shortfall. "It should be clear that electricity is a type of commodity," Wang Gaofeng, a writer at a Chinese energy magazine, <a href="https://shoudian.bjx.com.cn/html/20210928/1179275.shtml">wrote</a> on WeChat in Mandarin. "Having ups and downs is a market law, and a thousand years without movement is not normal!"

Coal prices are skyrocketing as an energy crisis in China rages

<ul class="summary-list"><li>The world is stuck in a dire <keyword id="12314947" type="UNKNOWN" weightage="60" keywordseo="energy-crunch" source="Orion">energy crunch</keyword>. It's affecting everything from gas prices to shipping times.</li><li>Countries are struggling to source <keyword id="11911392" type="UNKNOWN" weightage="60" keywordseo="coal" source="Orion">coal</keyword>, natural gas, oil, and renewable <keyword id="11917806" type="UNKNOWN" weightage="60" keywordseo="energy" source="Orion">energy</keyword> as supply-chain problems linger.</li></ul>You're paying $3.29 per gallon to fill your car when it cost $2.29 at the start of the year. Your online orders are arriving way later than usual. And as winter nears, it's costing more to heat your home.The complex web that powers the world is badly tangled. A combination of supply-chain bottlenecks, government policies, and ill-preparedness has left countries struggling to keep their economies running at full steam.That energy shortage could erase a key recovery driver. The holiday season tends to bring a wave of consumer spending as people shop for holiday gifts. Consumer spending counts for roughly 70% of economic activity, but only when there are goods for people to spend money on.Almost every major <keyword id="11893570" type="UNKNOWN" weightage="100" keywordseo="economy" source="Orion">economy</keyword> has contributed to the mess. China lacks an adequate supply of coal due to <a href="https://www.businessinsider.com/coal-price-china-electricity-crisis-energy-apple-tesla-factory-australia-2021-09">slowed mining and a refusal to import coal from Australia</a>. That's led to energy rationing and factory blackouts.The crunch doesn't stop there. Frackers in the US haven't returned to pre-crisis output, leaving oil supply well below the world's massive demand. Russia has worsened the problem by <a href="https://www.nytimes.com/2021/10/07/world/europe/putin-russia-natural-gas-europe.html">deciding not to send its natural gas</a> to the European Union.The insufficient amount of natural gas has dragged the world's power plants back in time. Oil, which is traditionally used much less often in electricity generation than coal or gas, is back in vogue as countries look for other ways to fuel their economies, the <a href="https://www.iea.org/reports/world-energy-outlook-2021/executive-summary">International Energy Agency</a> said Thursday.But that's also in short supply. OPEC is <a href="https://www.businessinsider.com/oil-price-outlook-brent-wti-opec-gradual-output-hike-production-2021-10">sticking with the production increases</a> it scheduled before the crunch, essentially telling the rest of the world that they aren't coming to the rescue. That's already sent prices soaring. Oil now costs more than $81.25 per barrel, the most since 2014.The world's energy sources are all coming up dry. There's no quick fix, and the pressures "are not going to relent in the coming decades," the IEA said in its latest World Energy Outlook report.<h2>The energy crunch is adding to an everything crunch</h2>The energy crunch is <a href="https://www.businessinsider.com/china-power-shortage-halts-apple-tesla-suppliers-stresses-supply-chain-2021-9">having knock-on effects elsewhere</a>. <keyword id="11895969" type="UNKNOWN" weightage="60" keywordseo="commodities" source="Orion">Commodities</keyword> that China exports are in low supply, leading production prices to skyrocket. Coal prices have more than doubled since July. A silicon shortage has <a href="https://www.businessinsider.com/supply-shortages-semiconductor-chips-crisis-us-china-trade-war-biden-2021-10">hampered semiconductor manufacturing</a>. And companies that rely on Chinese factories to assemble their products face even larger backlogs than before.The risks go beyond gas prices and heating costs. Advanced economies are already mired in supply-chain struggles. Blackouts at factories in China, India, and other manufacturing giants have delayed shipments. When products finally do reach the US on cargo containers, <a href="https://www.businessinsider.com/global-supply-chain-crisis-ports-face-record-delays-2021-10">huge backlogs at ports</a> have left vessels idling off the coast. Once goods are finally offloaded, a shortage of truck drivers has held up deliveries even more.Solving the bottlenecks is no easy task. The disruptions "will get worse before they get better," Moody's Analytics said Monday."As the global economic recovery continues to gather steam, what is increasingly apparent is how it will be stymied by supply-chain disruptions that are now showing up at every corner," the firm added.New efforts aim to alleviate the pressure. The White House announced Wednesday that the Port of Los Angeles <a href="https://www.businessinsider.com/los-angeles-port-shipping-crisis-docks-supply-chain-white-house-2021-10">will start processing ships 24/7</a>. Corporations including Walmart, UPS, and FedEx <a href="https://www.businessinsider.com/shipping-crisis-supply-chain-walmart-night-working-hours-white-house-2021-10">will also shift to all-day-every-day models</a> to ease the holdup.Yet fighting the supply-chain nightmare doesn't address the core problem. The world's energy supply remains under immense pressure. That's already keeping <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword> persistently high.<h2>It all comes back to inflation</h2>While Americans are still able to turn their lights on and fuel their cars, they're feeling the heat in their wallets.Up until September, inflation <a href="https://www.businessinsider.com/pce-inflation-july-price-growth-supply-shortages-demand-economic-data-2021-8">looked to be cooling off</a> just as the Biden administration and the Federal Reserve expected. Price growth slowed in July and again in August, yet the energy crunch seems to be thwarting the return to normal.Prices <a href="https://www.businessinsider.com/inflation-cpi-september-price-growth-index-economic-data-delta-wave-2021-10">rose 0.4% in September</a>, the Bureau of Labor Statistics said Wednesday, accelerating from the pace seen in August. Of the sectors powering the jump, energy reigned supreme. The segment saw prices rise 1.3% in September, exceeding the inflation seen in food, used cars, and accommodation costs like hotels and rent.That's directly affected what Americans are paying at the pump. The average price-per-gallon of gasoline in the US rose to $3.29 on Wednesday, according to GasBuddy, marking the highest level in seven years.If governments can't untangle their supply chains fast enough, you can expect price growth to stay worryingly strong. The post-pandemic normal might just include shipping delays, expensive refueling, and pricier goods across the board.

The energy market is a huge mess right now and threatens to turn the high inflation of 2021 into a terrible new economic era

<ul class="summary-list"><li><keyword id="45830" type="PERSON" weightage="60" keywordseo="Bill-Gates">Bill Gates</keyword> is considering Glenrock, Wyoming, for his next-generation nuclear power plant. </li><li>The plant could replace 200 jobs that are at risk as a local <keyword id="6356966" type="UNKNOWN" weightage="60" keywordseo="coal">coal</keyword> plant closes, the mayor said.</li><li>Gates' company TerraPower is running the project with Warren Buffett-owned PacifiCorp. </li></ul>A small town in Wyoming is hoping that Bill Gates will pick it for his upcoming $1 billion next-generation nuclear power plant, which could save hundreds of local jobs.<a href="https://www.businessinsider.com/bill-gates-terrapower-molten-salt-nuclear-reactor-2018-10">TerraPower</a>, Gates' nuclear-power company, is considering Glenrock, Wyoming, for its first advanced Natrium reactor, per the <a href="https://apnews.com/article/bill-gates-wyoming-technology-environment-and-nature-government-and-politics-c647adc5f4a447eaef1c4ec28464e153">Associated Press (AP)</a>. Gates has said the reactor would be safer and cost less than a traditional nuclear reactor.A coal-fired power plant in Glenrock is due to shut in 2027, according to <a href="https://www.pacificorp.com/content/dam/pcorp/documents/en/pacificorp/energy/integrated-resource-plan/2019_IRP_Volume_I.pdf">plans published</a> by <a href="https://www.businessinsider.com/texas-energy-companies-remotely-raised-smart-thermostats-temperatures-2021-6">energy company</a> PacifiCorp, the plant's owner. The plant, called the Dave Johnston Power Plant, employs nearly 200 people from Glenrock and two nearby towns, <a href="https://www.wyomingnews.com/rocketminer/news/troubling-future-of-coal-hits-dave-johnston-plant/article_a42d355a-421f-5647-ac3f-50d1f0b2289b.html">Wyoming News</a> reported.Glenrock Mayor Bruce Roumell <a href="https://www.foxbusiness.com/markets/wyoming-bill-gates-terrapower-nuclear-replace-coal-jobs?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A%20foxbusiness%2Flatest%20%28Internal%20-%20Latest%20News%20-%20Text%290Text%29">told Fox Business</a> that the site could more than make up for lost coal jobs. "We've been told it'll be close to 250 people," Roumell told Fox Business when asked how many jobs could be created. "They've also said there would be around 1,500 people in the construction phase. That's a pretty good influx into this area for us." TerraPower is running the Natrium project with PacifiCorp - owned by billionaire <a href="https://www.businessinsider.com/how-warren-buffett-spends-net-worth-philanthropy-2018-10">Warren Buffett</a> - and plans to <a href="https://www.energy.gov/ne/articles/next-gen-nuclear-plant-and-jobs-are-coming-wyoming">open the plant by 2028.</a> The Natrium reactor could be a <a href="https://www.businessinsider.com/easy-ways-to-mitigate-climate-change-lower-your-carbon-footprint">carbon-free energy</a> source for about 400,000 homes during peak demand, <a href="https://www.terrapower.com/natrium-demo-wyoming-coal-plant/">TerraPower said in a press release</a>. Read more: <a href="https://www.businessinsider.com/stocks-to-buy-companies-that-will-profit-from-the-clean-energy-movement">UBS lays out the case for buying these 47 stocks across 11 sectors that are 'preferred winners' from a $140 trillion transition to clean energy that will transform the industry</a>Gates said in a June <a href="https://www.youtube.com/watch?v=hHzwwtSTbxY&amp;t=558s558s">press briefing</a> that the Natirum reactor, which uses liquid sodium as its coolant instead of water, would be safer and cost less than a traditional nuclear reactor. In October 2020, the US Department of <keyword id="6357014" type="ORGANIZATION" weightage="100" keywordseo="energy">Energy</keyword> awarded the project $80 million in initial funding, per a TerraPower <a href="https://www.terrapower.com/doe-natrium-demonstration-award/">press release</a>. In June, TerraPower said in a <a href="https://www.terrapower.com/natrium-demo-wyoming-coal-plant/">press release</a> that it would <a href="https://www.businessinsider.com/bill-gates-warren-buffett-nuclear-reactor-wyoming-terrapower-pacificorp-2021-6">select a town in Wyoming</a> for its first reactor project, and that it would announce the site by the end of the year. Gillette, Kemmerer, and Rock Springs are the three other towns under consideration, per the <a href="https://apnews.com/article/bill-gates-wyoming-technology-environment-and-nature-government-and-politics-c647adc5f4a447eaef1c4ec28464e153">AP</a>.TerraPower previously said the project would cost about $1 billion, <a href="https://www.reuters.com/article/us-usa-nuclearpower-terrapower-idUSKBN25N2U8">Reuters reported</a>. Fox Business said that nearly all of Glenrock's residents it spoke to were excited at the idea of TerraPower moving into town. "We've got to do something," resident Deb Schell told Fox Business. "I think it's the wave of the future. Coal is on its way out so we have to do something."TerraPower and PacifiCorp did not immediately respond to Insider's request for comment.

A small Wyoming town is hoping Bill Gates' $1 billion nuclear power plant could save hundreds of jobs

<ul><li><keyword id="6368072" type="General" weightage="20" keywordseo="real-estate-developers" source="Orion">Real estate developers</keyword> are worried that increasing raw material costs could hurt investor sentiment and bring a pause to the strong growth in <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword>.</li><li>Raw materials required for construction have also been rising with inflation, further hurting customer purchasing power.</li><li>The industry expects to make concentrated efforts to reduce the spike in prices of raw materials such as cement, bricks, steel, etc, which would also give some relief to the sector.</li></ul>Indian central bank’s second round of hike in <keyword id="6371181" type="General" weightage="20" keywordseo="interest-rates" source="Orion">interest rates</keyword> could ruin the belated recovery in the real estate sector which has been reeling under the impact of Covid-19, despite <keyword id="6354730" type="General" weightage="20" keywordseo="home-loan" source="Orion">home loan</keyword> interest rates being at an all-time low until recently. In the last one month, the Reserve Bank of India has hiked the repo rate by 90 basis points, and most banks have <a href="https://www.businessinsider.in/finance/news/home-loan-rates-enter-red-zone-will-dent-affordable-and-mid-segment-sales-the-most/articleshow/92079341.cms">already moved</a> to reflect this in their repo-linked home loan rates. Analysts believe that home buyers should brace for an increase in EMIs throughout this year, as if inflation was not enough of a problem as it is. “We expect existing and new home borrowers to brace for an increase in home loan rates throughout the year and plan their financials accordingly,” said Kalpesh Dave, head corporate planning &amp; strategy, Star Housing Finance. However, it’s not just homebuyers who will be impacted by the rise in borrowing costs. Even real estate developers will face the heat of the moment, say analysts. Adding to it, for them it could directly impact the sales of residential homes as customers would stay away for a while due to the rise in costs. Also, not to forget all the raw materials required for construction have been rising with the inflation, further hurting customer purchasing power. “A rise in inflation can soften the stance on an otherwise robust real estate industry. Already raw material prices are increasing and an unbridled rate of inflation will further drive the input costs northwards, therefore resulting in cost overruns for the developer fraternity,” said Suren Goyal, partner at RPS Group, real estate developer. “In such a case they will have no option but to pass on the price to the homebuyers,” he further added. The move would impact already strong demand and liquidity After a lull due to Covid, the demand to buy a house had recovered due to the growing need for home ownership and de-escalation of the covid crisis. “The current rise in repo rate might dent an otherwise upbeat bullish demand. Meanwhile, an increase in lending rates might plague growth in the affordable segment, which is very closely linked to the credit market,” said Nakul Mathur, MD at Avanta India. “From a real estate perspective, this hike in the policy rate comes as a hurdle as home loan rates will increase, putting a dent on the homebuyer's sentiments. Any increase in the interest rate will further impact the costs of doing business and hence the move will hurt business sentiment too as the economy is still recovering from the pandemic,” said Ramani Sastri, chairman &amp; managing director at Sterling Developers. RBI and finance ministry expected to intervene at some point However, in the long run, to keep the momentum going, the industry expects RBI and the finance ministry to take steps to keep the liquidity growth in the market. “The banking and other financing institutions should play a pivotal role in ensuring a smooth flow of liquidity to the people,” said Subhash Goel, managing director at Goel Ganga Developments. However, the RBI did provide some respite to the space by announcing measures like doubling the amount of loan cooperative banks can issue for housing to improve credit flow to the sector. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/personal-finance/news/here-why-its-best-to-stay-away-from-these-loans-then-fall-into-debt-trap/articleshow/92104711.cms">Here why it’s best to stay away from these loans then fall into debt trap</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/india/news/coal-india-will-import-coal-for-the-first-time-as-power-crisis-threatens-to-worsen/articleshow/92103298.cms">Coal India will import coal for the first time as power crisis threatens to worsen</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/war-and-floods-take-the-bite-out-of-kfc-australia-after-a-chicken-shortage-it-is-now-facing-a-lettuce-crisis/articleshow/92102421.cms">War and floods take the bite out of KFC Australia – after a chicken shortage, it is now facing a lettuce crisis</a>

Indian central bank’s rate hikes leaves the real estate sector jittery

New Delhi, Jun 18 () India should be the world's largest coal exporters considering the size of reserves it has, and unlocking of coal mining for commercial players is a step in that direction, Prime Minister Narendra Modi said on Thursday. Launching the virtual auction process for 41 coal blocks for commercial mining, expected to garner Rs 33,000 crore of capital investment in the country over next 5-7 years, the Prime Minister said it is a major step in the direction of achieving 'self-reliance'. He also said that the coronavirus pandemic has taught India to be self-reliant. The launch of the auction process not only marks the beginning of unlocking of the country's coal sector from the "lockdown of decades", but aims at making India the largest exporter of coal, PM Modi said. Presently, despite being the world's fourth largest producer, he said India is the second largest importer of the dry-fuel. "The country which in terms of coal reserves is the fourth-largest nation and is the second-largest coal producer, that country is not exporting coal. But is the second largest importer of coal. The big question is when we are the largest producer of the world... If it is true, why can't we be the largest exporter," Modi said. The PM further said, "We are committed to turning the coronavirus crisis into an opportunity." The Prime Minister said that the government has set an aim of gasification of 100 million tonnes of coal by 2030 with an investment of Rs 20,000 crore. "We have kept an aim that by the year 2030, which means in this decade, around 100 million tonnes of coal should be gasified... For this, four projects have been identified and in them around Rs 20,000 crore would be invested." Lambasting past policies of keeping the sector closed and pointing out towards controversies and scams that shrouded the sector in the past, he said that now there is full transparency in auctions with a wide set of reforms. Commercial coal block auction will be a win-win for industry users, and new resources will open up with states getting more revenue and employment, he said. The PM said that the government has taken important decision to open up coal, mining sector to competition, capital and technology and termed it a major step in the direction of India achieving 'self-reliance'. The PM said that this auction process will result in major revenues to states and create employment besides development of the far-flung tribal areas. The commencement of auction process of these blocks, part of the series of announcements made under 'Atmanirbhar Bharat Abhiyan', are likely to contribute Rs 20,000 crore revenues annually to the state governments. In line with the Prime Minister's self-reliance call, the aim behind the auction process is to achieve self-sufficiency in meeting energy needs and boost industrial development. The government has taken an important decision to open up coal, mining sector to competition, capital and technology, he said. Coal and Mines Minister Pralhad Joshi, who was also be present during the launch event, said Rs 50,000 crore is being invested in the sector to jack up India's coal output to 1 billion tonnes. With a view to achieve self-reliance in the coal sector, the Ministry of Coal in association with FICCI launched the process of auction of 41 coal mines under the provisions of Coal Mines (Special Provisions) Act and Mines and Minerals (Development and Regulation) Act. Upon attainment of peak rated capacity of production of 225 million tonnes (MT), the government said, these mines will contribute about 15 per cent of the country's projected total coal production in 2025-26. It will also lead to employment generation for more than 2.8 lakh people -- direct employment to approximately 70,000 people and indirect employment to approximately 2,10,000 people, as per the government. Vedanta Group Chairman Anil Agarwal and Tata Sons Chairman N Chandrasekharan also attended the launch event. The decision was taken during a meeting of the Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister. Finance Minister Nirmala Sitharaman, while announcing the stimulus package for the coronavirus-hit economy, had said coal mines would be auctioned to the private sector for commercial mining to end reliance on imports and improve local production. The methodology approved by the CCEA provides that bid parameter will be revenue-share, the government had said, adding that bidders would be required to bid for a percentage share of revenue payable to the government. SID NAM ANZ NAM ANS ANS

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