It is the 20th of September 2019

News

A 10-year-old natural gas plant in California gets the coal plant treatment

Two gas turbines at the Inland Empire Energy Center.

Enlarge / Inland Empire Energy Center outside of Riverside, California. (credit: Oohlongjohnson)

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UBS Reveals The Stunning Reason Behind The 2017 Stock Market Rally

It's 2018 forecast time for the big banks. With Goldman unveiling its seven Top Trades for 2018 earlier, overnight it was also UBS' turn to reveal its price targets for the S&P in the coming year, and not surprisingly, the largest Swiss bank was extremely bullish, so much so in fact that its base case is roughly where Goldman expects the S&P to be some time in the 2020s (at least until David Kostin revises his price forecast shortly).

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State Of Emergency Declared Across Southeastern US As Hurricane Nate Looms

Update (1 pm ET):  With Nate expected to strengthen into a category 2 storm by the time it makes landfall in southeastern Louisiana late Saturday, the NHC has expanded its storm warnings to include the part of the Florida panhandle east of the Okaloosa/Walton County Line to Indian Pass Florida, which is now under a tropical storm warning. Meanwhile, mandatory evacuations are set to begin in Port Fourchon, Louisiana at 12pm local time Saturday for remaining staff at the port, according to storm update by the Greater Lafourche Port Commission. This follows mandatory evacuation ordered by Lafourche Parish, La., President Jimmy Cantrelle for areas below floodgates in Golden Meadow, La. In addition, the US Coast Guard has suspended marine traffic activity as of 8 am local time for sector Mobile, which includes the ports of Gulfport and Pascagoula in Mississippi, Mobile, Ala., and Pensacola, Fla., in preparation for Hurricane Nate, according to an agency bulletin.

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What Fiduciary Duty? San Fran Politicians Try To Force Pension To Dump $470MM Of "Fossil Fuel" Stocks

We've frequently argued that public pension underfundings are perhaps the greatest threat to the long-term economic outlook of the United States, if not the globe.  With aggregate underfunding levels of $5-$8 trillion, depending on what discount rate your local politicians decide to pull out of thin air, the forthcoming pension crisis will be too large for even the very generous American taxpayer to cover.

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Harvey To Make Landfall As Cat 3 Hurricane, Bring 40 Inches Of Rain: Latest Updates

Hurricane Harvey, which until this morning a Tropical Storm, is now set to be the first hurricane to strike the Texas coast since 2008. According to the NHS, which issued a hurricane warning from Port Mansfield to Matagorda, TX including Corpus Christi, Harvey is "rapidly intensifying", and is forecast to be a "major hurricane."

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