Incentives Rule the World

Ryan Murphy, an economist at Southern Methodist University, recently published a working paper in which he ranked each of the states by the predominance of—there’s no nice way to put it—psychopaths. The winner? Washington in a walk. In fact, the capital scored higher on Murphy’s scale than the next two runners-up combined.

“I had previously written on politicians and psychopathy, but I had no expectation D.C. would stand out as much as it does,” Murphy wrote in an email…

On a national level, it raises the troubling question as to what it means to live in a country whose institutions are set up to reward some very dubious human traits. Like it or not, we’re more likely than not to wind up with some alarming personalities in positions of power.

– From last year’s Politico article, Washington, D.C.: the Psychopath Capital of America

One of the most frustrating aspects of modern American politics — and the culture in general — is our all encompassing fixation on the superficial. It’s also one of the main reasons I have very little interest in presidential politics, which basically consists of a bunch of billionaire friendly puppets auditioning to become the next public face of imperial oligarchy. Though I understand the desire for quick fixes, our focus on highlighting and mitigating only the symptoms of societal decay as opposed to the root causes, ensures we’ll never achieve the sort of positive paradigm-level shift necessary to bring humankind forward.

continue reading

from Liberty Blitzkrieg https://ift.tt/2QfxyO1
via IFTTT

Woman Sentenced to 12 Years in Prison for Selling $31 of Marijuana Lands Back in Jail for Court Fees

Patricia Spottedcrow found herself in a jail cell last week. It was a familiar place for her: In 2010, she was sentenced to 12 years in prison and $2,740 in fines for selling $31 worth of marijuana to an undercover police informant. That sparked an outcry, especially since she was a first-time offender, and the public outrage led to her early release two years later.

Yet the fines were not dismissed, and late fees mounted with each missed payment. On September 9, the Oklahoma City police arrested her, with the state ordering that Spottedcrow be locked up until she could furnish $1,139.90 of the $3,569.76 she still owed. Meanwhile, she was hit with yet more fines with the new arrest, and they would accrue while she was in jail.

After her case was publicized, some strangers donated enough funds to wipe her slate clean. As she walked out of jail on September 11, she was completely free for the first time in nearly a decade.

The mother of six has been constantly at the mercy of the criminal justice system since her arrest. In 2017 she told the Tulsa World that she was living in an Oklahoma City motel, unable to find permanent housing. Her conviction also made it difficult to find work, so she relied on her husband’s pay as an electrician. He has since passed away.

And in 2018—eight years after pleading guilty—her bond was revoked after she failed to report to a probation officer and admitted to drinking a beer. Her debt continued to climb, though she attempted to pay some of it off at least every other month. But that made no difference: The $3,600 she owed as of last week had grown from the $2,740 she owed when she first reported to prison years ago.

Her mother, Delita Starr, was also arrested in connection with the incident. Another first-time offender, she received a 30-year suspended prison sentence in 2010—and was handed $8,600 in fines.

Their experience is alarming but unsurprising. Oklahoma incarcerates women at the highest rate in the country, and it has the second-highest overall incarceration rate.

“It was a way of life for them,” said former Kingfisher County Associate District Judge Susie Pritchett in 2011, who oversaw the case. “Considering these circumstances, I thought it was lenient. By not putting the grandmother in prison, she is able to help take care of the children.”

from Latest – Reason.com https://ift.tt/2AmMsHp
via IFTTT

Woman Sentenced to 12 Years in Prison for Selling $31 of Marijuana Lands Back in Jail for Court Fees

Patricia Spottedcrow found herself in a jail cell last week. It was a familiar place for her: In 2010, she was sentenced to 12 years in prison and $2,740 in fines for selling $31 worth of marijuana to an undercover police informant. That sparked an outcry, especially since she was a first-time offender, and the public outrage led to her early release two years later.

Yet the fines were not dismissed, and late fees mounted with each missed payment. On September 9, the Oklahoma City police arrested her, with the state ordering that Spottedcrow be locked up until she could furnish $1,139.90 of the $3,569.76 she still owed. Meanwhile, she was hit with yet more fines with the new arrest, and they would accrue while she was in jail.

After her case was publicized, some strangers donated enough funds to wipe her slate clean. As she walked out of jail on September 11, she was completely free for the first time in nearly a decade.

The mother of six has been constantly at the mercy of the criminal justice system since her arrest. In 2017 she told the Tulsa World that she was living in an Oklahoma City motel, unable to find permanent housing. Her conviction also made it difficult to find work, so she relied on her husband’s pay as an electrician. He has since passed away.

And in 2018—eight years after pleading guilty—her bond was revoked after she failed to report to a probation officer and admitted to drinking a beer. Her debt continued to climb, though she attempted to pay some of it off at least every other month. But that made no difference: The $3,600 she owed as of last week had grown from the $2,740 she owed when she first reported to prison years ago.

Her mother, Delita Starr, was also arrested in connection with the incident. Another first-time offender, she received a 30-year suspended prison sentence in 2010—and was handed $8,600 in fines.

Their experience is alarming but unsurprising. Oklahoma incarcerates women at the highest rate in the country, and it has the second-highest overall incarceration rate.

“It was a way of life for them,” said former Kingfisher County Associate District Judge Susie Pritchett in 2011, who oversaw the case. “Considering these circumstances, I thought it was lenient. By not putting the grandmother in prison, she is able to help take care of the children.”

from Latest – Reason.com https://ift.tt/2AmMsHp
via IFTTT

Oilmageddon: Surveying The Aftermath

Oilmageddon: Surveying The Aftermath

Black gold meet black swan…

A strike on a Saudi refinery overnight sparked initially chaotic scenes in markets globally, but by the end of the day things had calmed a little – perhaps as the eye of the margin-call storm passes overhead.

Brent soared almost 20% initially but faded a little during the day, breaking above all its major moving averages…

Source: Bloomberg

WTI soared too and squeeze back up to overnight highs ahead of the NYMEX close, ran the stops, then faded…

And don’t forget the machines wreaked havoc overnight…

Chinese equities were mixed (having been off on Friday) with the majors lower and small cap, tech higher (despite a full house of ugly macro data)…

Source: Bloomberg

And European stocks opened down hard and were unable to regain green…

Source: Bloomberg

The broad US equity markets were mixed with Small Caps dramatically outperforming and the S&P 500 leading the losers (with Trannies down)…

Futures show the initial pain was significant but the dip-buying algos were not going to stand around and let that happen…

Energy stocks all soared…

Source: Bloomberg

As did Defense stocks (war is good)

Source: Bloomberg

Both Momentum and Value stocks were weaker today…

Source: Bloomberg

“Most Shorted” stocks were squeezed once again!!

Source: Bloomberg

Cyclicals and Defensives were weaker on the day…

Source: Bloomberg

Treasury yields were notably lower on the day as safe-haven bids dominated (and issuance was de minimus)…

Source: Bloomberg

10Y Yields reversed at the critical downtrend line…

Source: Bloomberg

The Dollar soared from the opening kneejerk lower, back to pre-Draghi levels…

Source: Bloomberg

Yuan fell to its overnight fix and stabilized…

Source: Bloomberg

Cryptos were mixed with Bitcoin lower and Altcoins higher..

Source: Bloomberg

Bitcoin tumbled around 8amET, but held above $10,000 for now…

Source: Bloomberg

Of course, commodityland was dominated by crude’s surge but we note that copper slipped lower…

Source: Bloomberg

Gold futures surged back above $1500 and despite an effort to crack them lower, held their gains…

 

Silver outperformed, testing back up to $18…

And Oil ‘VIX’ surged to its highest since Dec 2018…

Source: Bloomberg

Hold on tight for your gas prices to surge at the pump…

Source: Bloomberg

Finally, as we detailed here, something much more significant broke today than the oil market… Repo rates exploded to 7% intraday (according to one repo trader)

Source: Bloomberg

And China’s economic data dumped overnight…

Source: Bloomberg


Tyler Durden

Mon, 09/16/2019 – 16:00

via ZeroHedge News https://ift.tt/30oq1MF Tyler Durden

De-escalation: Trump Doesn’t Want “War With Anyone”, Wants “Definitive Proof” Iran Behind Attacks

De-escalation: Trump Doesn’t Want “War With Anyone”, Wants “Definitive Proof” Iran Behind Attacks

With the war drums beating loudly ever since Mike Pompeo accused Iran of launching the drone strike that crippled Aramco oil production, moments ago the odds of an imminent war with Iran de-escalated materially after President Trump said it was “looking like Iran was behind this weekend’s attacks” on Saudi oil facilities, but added that “he doesn’t want to go war with anyone.”

“It’s certainly looking that way at this moment,” Trump says in response to a question whether Iran was responsible for the attacks.

“I don’t want to have war with anybody” but our military is prepared, Trump says at the White House, where he was meeting with Bahrain Crown Prince Salman bin Hamad Al Khalifa. Furthermore, the president said the US is not looking at retaliatory options until he has “definitive proof” that Iran was responsible for attacks on Saudi Arabian oil facilities.

Still, Trump told reporters in the Oval Office that the US “is prepared” if the attacks warrant a response.

Also notably, when asked if he has promised to protect the Saudis, the president responded “No, I haven’t promised the Saudis that… We have to sit down with the Saudis and work something out.”

Trump’s statement followed a push by the White House to walk balk Trump’s belligerent “locked and loaded” comment from Sunday night.

Meanwhile, in a separate confirmation that war tensions appeared to de-escalate, the Arab News, the semi-official paper of record of the royal family, reported that the Kingdom’s Foreign Ministry said international experts, including from the UN, will be invited to participate in the investigation to determine who was behind the attack, suggesting that a conclusive determination is at best weeks if not months away.

Preliminary investigations showed that Iranian weapons were used in the attack, which knocked out more than half of Saudi Arabia’s oil production and damaged the world’s biggest crude processing plant, the ministry statement said.

“The kingdom is capable of defending its land and people and responding forcefully to those attacks,” it added.

The ministry said the attack above all targeted global oil supplies and called it an extension of previous hostile acts against oil pumping stations in May.

The Houthis have carried out scores of attacks against Saudi Arabia using drones and ballistic missiles.

Al-Maliki labelled the Houthis “a tool in the hands of the Iranian Revolutionary Guards and the terrorist regime of Iran.”

The attacks against Abqaiq, the world’s largest oil processing facility, and the Khurais oil field in eastern Saudi Arabia knocked out nearly half of Saudi Arabia’s oil production.

 


Tyler Durden

Mon, 09/16/2019 – 16:00

via ZeroHedge News https://ift.tt/2IbxSa3 Tyler Durden

No War for Saudi Arabia

For your because-2019 files:

So what fresh hell is this “locked and loaded” nonsense? That’s what kicks off this week’s Editors Roundtable edition of the Reason Podcast, featuring Nick Gillespie, Katherine Mangu-Ward, Peter Suderman, and Matt Welch. The quartet also discusses highlights and lowlights from last week’s Democratic presidential debate, rages against the dying of the vape, and tries to fix Katherine’s bad movie-watching instincts.

Audio production by Ian Keyser.

Music credit: ‘Complicate Ya’ by Otis McDonald

Relevant links from the show:

Yemen, Iran, and the War Powers Act,” by Ilya Somin

Is the U.S. Stumbling Towards an Accidental War With Iran?” by Christian Britschgi

War With Iran May Have Been Avoided Due to Trump’s Fondness for Fox News,” by Elizabeth Nolan Brown

Democratic Candidates Agree—Let’s Get Out of Afghanistan,” by Scott Shackford

The Corruptions of Power,” by Matt Welch

Kamala Harris Does Not Understand Why the Constitution Should Get in the Way of Her Gun Control Agenda,” by Jacob Sullum

Andrew Yang Is the Anti–Elizabeth Warren,” by Shikha Dalmia

Vicious Scapegoating Is the Whole Point of Beto O’Rourke’s Gun Grab,” by Jacob Sullum

On Trade, Democrats Continue Struggling To Differentiate From Trump,” by Eric Boehm

There’s Only 1 Democrat Talking About the Constitution, and It’s (Shudder) Joe Biden,” by Matt Welch

Banning Flavored E-Cigarettes Has Nothing to Do With the Hazards of Black-Market Cannabis Products,” by Jacob Sullum

The Ban on Flavored E-Cigarettes May Lead to More Smoking by Teenagers As Well As Adults,” by Jacob Sullum

Trump’s Ban on E-Cigarette Flavors Endangers Public Health,” by Jacob Sullum

The Great Lost Rolling Stones Documentary Is Now a Museum Piece,” by Kurt Loder

Abraham Lincoln: Vampire Hunter and To Rome with Love,” by Kurt Loder

from Latest – Reason.com https://ift.tt/30n15VR
via IFTTT

Rep Matt Gaetz Mocks Dems “Low-T” Impeachment Effort

Rep Matt Gaetz Mocks Dems “Low-T” Impeachment Effort

Authored by Rusty Weiss via The Mental Recession

Rep. Matt Gaetz mocked Democrats on the House Judiciary Committee, calling their renewed push for an impeachment investigation “low-T,” “low energy,” and akin to a “Seinfeld hearing” about nothing.

The Committee earlier today voted to launch a formal impeachment investigation. It marks the first vote conducted by the group regarding the potential impeachment of President Trump.

Gaetz (R-FL) lit into his Democrat colleagues in the midst of a hearing on the rules governing the investigation.

The chairman mentioned he wouldn’t be debating the lexicon as to whether this was an impeachment inquiry or investigation,” Gaetz said prior to providing his own nomenclature.

“I’ve called it impeachment in drag because we’ve dressed up impeachment like an oversight hearing,” he said. “Perhaps it’s low-T impeachment, low energy impeachment.

.

Rep. Gaetz then pivoted to further mockery of Judiciary Chair Jerry Nadler (D-NY), alleging that he was simply playing to his far-left base in New York as a means to stem threats from potential challengers. It was an assertion that prompted groans from the gallery.

Hey, moan and groan all you want!” he shot back. “We’ve got circumstances here where you guys can’t move the country. You don’t have any support for this endeavor … it’s like a Seinfeld hearing, it’s a hearing about nothing.”

He’s right, of course. Democrats dragging this out right up until the election is only helping the President.

Why? Impeachment is not supported by the people, with swing voters making it clear they want nothing to do with Democrats’ obsessive hatred towards President Trump.

“Instead of delivering on their campaign promises House Democrats have spent every week in the majority pushing this disastrous vanity project,” NRCC Spokesman Michael McAdams said in a statement.

Democrats own internal polling shows “just 10% said investigating Trump should be a top priority for Congress,” while a recent Monmouth Poll found the vast majority of Americans oppose impeachment. Yet, they’re doing it anyway.

Today’s vote means nothing — it is a farce meant to distract the country from the fact that the Democrats have starved the American people of leadership for over two years,” Gaetz said.

A Florida doctor in 2016 suggested that Hillary supporters suffer from low-T, while a study three years earlier claimed strong men tend to support conservative policies and platforms.

“Men who are strong are more likely to take a right-wing stance,” the Daily Mail reported, “while weaker men support the welfare state.”

Gaetz comments suggest they might also support impeachment.

Read more at the Political Insider


Tyler Durden

Mon, 09/16/2019 – 15:45

Tags

via ZeroHedge News https://ift.tt/2Qgh7Ru Tyler Durden

No War for Saudi Arabia

For your because-2019 files:

So what fresh hell is this “locked and loaded” nonsense? That’s what kicks off this week’s Editors Roundtable edition of the Reason Podcast, featuring Nick Gillespie, Katherine Mangu-Ward, Peter Suderman, and Matt Welch. The quartet also discusses highlights and lowlights from last week’s Democratic presidential debate, rages against the dying of the vape, and tries to fix Katherine’s bad movie-watching instincts.

Audio production by Ian Keyser.

Music credit: ‘Complicate Ya’ by Otis McDonald

Relevant links from the show:

Yemen, Iran, and the War Powers Act,” by Ilya Somin

Is the U.S. Stumbling Towards an Accidental War With Iran?” by Christian Britschgi

War With Iran May Have Been Avoided Due to Trump’s Fondness for Fox News,” by Elizabeth Nolan Brown

Democratic Candidates Agree—Let’s Get Out of Afghanistan,” by Scott Shackford

The Corruptions of Power,” by Matt Welch

Kamala Harris Does Not Understand Why the Constitution Should Get in the Way of Her Gun Control Agenda,” by Jacob Sullum

Andrew Yang Is the Anti–Elizabeth Warren,” by Shikha Dalmia

Vicious Scapegoating Is the Whole Point of Beto O’Rourke’s Gun Grab,” by Jacob Sullum

On Trade, Democrats Continue Struggling To Differentiate From Trump,” by Eric Boehm

There’s Only 1 Democrat Talking About the Constitution, and It’s (Shudder) Joe Biden,” by Matt Welch

Banning Flavored E-Cigarettes Has Nothing to Do With the Hazards of Black-Market Cannabis Products,” by Jacob Sullum

The Ban on Flavored E-Cigarettes May Lead to More Smoking by Teenagers As Well As Adults,” by Jacob Sullum

Trump’s Ban on E-Cigarette Flavors Endangers Public Health,” by Jacob Sullum

The Great Lost Rolling Stones Documentary Is Now a Museum Piece,” by Kurt Loder

Abraham Lincoln: Vampire Hunter and To Rome with Love,” by Kurt Loder

from Latest – Reason.com https://ift.tt/30n15VR
via IFTTT

JPMorgan Quant Guru: Here Is Where Oil’s Price Spike Starts To Slam The Stock Market

JPMorgan Quant Guru: Here Is Where Oil’s Price Spike Starts To Slam The Stock Market

Too much of a good thing can be harmful and while the surge in oil prices in the last 24 hours has sent energy-related stocks higher, and taken a modest haircut off the broad stock market; JPMorgan’s quant guru Marko Kolanovic warns that if oil prices keep rising then than spoonful of inflationary medicine will start to weigh on stocks quite notably.

Notably, the recent shock in Oil prices came amid significant crowding in short oil and gas futures by systematic and macro investors, even more extreme shorting of oil and natural gas exploration and production stocks by hedge fund pods and quants, and puzzling investor complacency towards geopolitical risks.

Kolanovic notes that it is hard to be surprised by the recent geopolitical event given the string of escalating events involving Oil tankers in the Strait of Hormuz, Gulf of Oman, Gibraltar, downing of drones.

Furthermore, the risks of this type of disruption were presented to the market almost a year ago (here). Investors came off as complacent last week, with more selling of Energy on the seemingly immaterial news of John Bolton’s resignation as National Security Advisor. It is our view that energy (commodity and stocks) will continue going higher and the rotation from momentum to value will continue.

So what are the implications for the S&P 500:

The question on many investors’ mind is how the spike in oil prices impact broad equity prices. On one side, a large increase of oil prices can weigh on the index by negatively impacting consumer activity, but there are also positives such as energy sector profits, alleviation of high yield credit concerns, and employment tied to the sector. To assess quantitatively at which point oil shocks negatively impact equities, we look at the correlation of Oil and S&P 500 prices.

Figure 1 below shows the correlation between Oil and S&P 500 at different levels of Oil (on horizontal axis as % of the cycle average Oil price).

Generally, Oil positively correlates with S&P 500 when Oil prices are stable. For large % increases in Oil, this correlations weakens, and eventually turns negative. Where is the break-even point when Oil starts hurting the S&P 500?

Taking into account the current price, Figure 1 above implies that we could start expecting a negative impact from Oil on the S&P 500 in an $80-$85 range for WTI. This is still far away from the current level of $60.

In addition to historical quantitative analysis, current macro fundamentals and global trade tensions may also play a role. In particular, we think that that elevated geopolitical risks in the Middle East and rising oil prices may incentivize both China and US to reach a timely trade agreement.

Additionally, amid the quant quake that markets suffered in the last week, Kolanovic notes that the recent spike in Oil will just accelerate this unwind and eventually lead to a capitulation of the short value/beta trade.

Commodity price developments should in turn continue to drive the value rotation and short covering of oil and natural gas stocks.


Tyler Durden

Mon, 09/16/2019 – 15:25

via ZeroHedge News https://ift.tt/2QbGmo8 Tyler Durden

Platts: 6 Commodity Charts To Watch This Week

Platts: 6 Commodity Charts To Watch This Week

Via S&P Global Platt’s ‘The Barrel’ blog,

Geopolitical risk and oil markets top this week’s pick of energy and commodities themes from S&P Global Platts editors. Plus, Ukraine’s role in European gas supply, steel scrap prices as a bellwether for economies, and a milestone approaches for US LNG exports.

1. Global oil markets on alert after attacks on Saudi oil facilities

Click for full-size infographic

What’s happening? Attacks on Saudi Arabian oil facilities at Abaiq and the kingdom’s second-largest oil field, Khurais, have led to the temporary loss of 5.7 million barrels a day of output, causing oil prices to jump and bringing back into focus the geopolitical risk in the Persian Gulf region. Saudi Arabia produced 9.77 million barrels a day in August, of which it exported around 7 million, according to the latest S&P Global Platts survey.

What’s next? Saudi Arabia has tried to reassure markets there will be no disruption to physical supply, with energy minister Prince Abdulaziz bin Salman saying the country’s export customers will be supplied from stocks. According to the Joint Organization Data Initiative figures, Saudi Arabia in June had enough stocks to cover around 27 days of exports. But market participants will be monitoring responses from all sides carefully to see whether or not tensions escalate further. S&P Global Analytics said Saturday that the sudden change in geopolitical risk level could cause oil prices to test $80/b.

Go deeper – S&P Global Platts Factbox on Saudi attacks

2. Unease in Europe as Ukraine gas transit contract expiry looms

What’s happening? A key meeting will be held in Brussels on Thursday between Russia, Ukraine and the European Commission to hammer out gas transit terms for 2020 and beyond. The European Commission is worried that without a deal Russian gas supplies to the EU could be disrupted from January 1. Ukraine is currently Russia’s biggest single transit route to the EU, carrying over 40% of Russian supplies in 2018, and heading for a similar share this year.

What’s next? Russia’s access to alternative routes to Ukraine for 2020 is looking limited. Its planned Nord Stream 2 pipeline to Germany is still waiting for a key planning permit from Denmark, and an EU court ruling last week restricted its access to Germany’s OPAL gas link, which will limit how much Russia can flow through its Nord Stream 1 pipeline. So the pressure is on to reach a deal, and the market will be watching the outcome closely.

3. Steel scrap prices showing recessionary tendencies

What’s happening? Global prices of heavy melting steel scrap have declined sharply this summer to lows not seen since 2017. The US is the world’s major exporter and Turkey is the biggest importer of ferrous scrap.

What’s next? Most market players sense a price bottom, but they remain uncertain despite expectations for more deepsea trading starting in mid-September. Alan Greenspan, former chairman of the US Federal Reserve, was known for monitoring scrap prices as an economic indicator – in particular to gage the chances for a recovery or a recession. The recent downward trend is ominous, pointing to the latter.

Go deeper – Podcast: How low can scrap and rebar go?

4. Record demand causes ERCOT power prices to skyrocket

What’s happening? Average wholesale power prices for August in the Electric Reliability Council of Texas (ERCOT) footprint more than quadrupled year on year, into triple-digit territory. A heat wave combined with plunging wind output to cause two Energy Emergency Alerts, and hours when the systemwide real-time price was at the $9,000/MWh offer cap. For the first 10 days of September, the day-ahead on-peak averages for the four main hubs were more than 6.7 times the averages for the same period of 2018, as another heat wave sent day-ahead prices soaring.

What’s next? A second planned revision to ERCOT’s scarcity price adder that goes into effect in time for the summer of 2020 may result in more extreme pricing. The planning reserve margin has been forecast to be 10.5% in the summer of 2020, well above this summer’s 8.6%, but well below the target of 13.75% considered minimum to ensure a capacity-related power outage occurs no more than one day in 10 years.

5. As US LNG facilities ramp up, exports near 1000 cargoes

Click to enlarge

What’s happening? The number of LNG export cargoes shipped from major liquefaction terminals in the US is nearing 1,000, according to S&P Global Platts trade flow software cFlow. The development comes amid a recent ramp-up in liquefaction from the five terminals that are actively shipping cargoes. America has become an increasingly important supplier in the global market since Cheniere Energy’s first export from its Sabine Pass facility in 2016. Terminals operated by Dominion Energy, Sempra Energy, Freeport LNG Development and a second one by Cheniere have joined the field since then.

What’s next? The ongoing trade war between Washington and Beijing will continue to push US cargoes to seek out other destinations in Asia, Europe and Latin America.

6. French nuclear fears stoke front quarter volatility

What’s happening? French power prices for Q4 2019 rose 24% last week after nuclear generator EDF announced it was examining sub-standard components in steam generators. Subsequent information confirmed 20 generators were affected across at least five reactors, implying around 5 GW of nuclear capacity could be facing extended outages this winter as the problems are fixed.

What’s next? EDF will propose its own solutions in the next few days, but forward supply uncertainty will continue until French nuclear regulator ASN has itself ruled on what needs to happen in one month’s time. Material French nuclear outages in the past have caused regional prices to rise as more expensive fossil-fuel power stations step up to fill the breach.


Tyler Durden

Mon, 09/16/2019 – 15:10

via ZeroHedge News https://ift.tt/2LVZTn5 Tyler Durden