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Anti-coal protesters shut down world’s largest coal port… Port of Newcastle, New South Wales, Australia.

“This is a continuation of a sustained protest movement against the port by the Blockade Australia group. Protests by the group have disrupted the port and surrounding rail infrastructure in the past two weeks, prompting police to establish a strike force to crack down on the high-profile stunts.

“The group said that the two activists entered the port on Wednesday night, with one locking themselves to a piece of coal moving equipment while another abseiled from machinery. In a live stream, one of the activists, Hannah Doole, declared: “This is us responding to the climate crisis. This is humans trying to survive.””

https://www.mining-technology.com/news/port-of-newcastle-sustained-protest-worlds-largest-coal-port/


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Climate change played a major role in bankrupting a Chilean clean energy project, court papers show.

“Alto Maipo SpA, an AES Corp. subsidiary, is developing power plants that harness snowmelt from the Andes Mountains to produce electricity. But declining power prices and a lack of snow have rendered the project unsustainable…”

https://www.bloomberg.com/news/articles/2021-11-17/climate-change-helps-bankrupt-a-chilean-clean-energy-project


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B.C. flooding could cause local food and gas shortages, widespread supply chain woes.

“Catastrophic flooding in British Columbia could result in shortages of consumer goods, higher diesel and gasoline prices, and an added wrench in Canada’s manufacturing supply chains at a time when global trade is already facing record logjams…”

https://globalnews.ca/news/8380108/bc-flooding-food-gas-shortages-supply-chain/


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Drug, feed ingredient shortages hit U.S. livestock producers…

“Supply-chain disruptions are hitting America’s meat producers and sending them scrambling for alternatives as they seek to care for farm animals and keep down costs.”

https://www.reuters.com/business/drug-feed-ingredient-shortages-hit-us-livestock-producers-2021-11-18/


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[UK] Huge cuts to North East’s public transport would be ‘catastrophic’ and risk ‘economic collapse’…

“Plans to slash millions of pounds from vital routes across Tyne and Wear have emerged this week, as Tyne and Wear Metro operator Nexus faces up to a £20.8m black hole.”

https://www.chroniclelive.co.uk/news/north-east-news/huge-cuts-north-easts-public-22195736


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London Underground and buses face cutbacks and cycle schemes could be axed without urgent funding.

“London’s bus services could be slashed by one-fifth and Tubes by almost one-tenth if the government does not step in with £1.9bn of extra cash, Sadiq Khan has warned.”

https://www.independent.co.uk/news/uk/politics/tfl-tube-roads-close-funding-b1959910.html


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Europe imposes lockdown restrictions as fourth wave of coronavirus surges.

“With Europe once again the epicentre of the pandemic, Germany, Austria, and Slovakia have introduced restrictions on unvaccinated citizens, with two Austrian states going into full lockdown from next week.”

https://news.sky.com/story/europe-imposes-lockdown-restrictions-as-fourth-wave-of-coronavirus-surges-12472077


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Inflation Completes Double Whammy for Europe’s Covid-Hit Workers…

“Many toward the bottom of the pay scale burned through savings as lockdown-induced furlough programs only partially covered their wages. Now, soaring energy and food costs are swallowing a disproportionate chunk of earnings to complete a double whammy.”

https://www.bloomberg.com/news/articles/2021-11-18/inflation-completes-double-whammy-for-europe-s-covid-hit-workers


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Italy Mulls $4 Billion Capital Raise to Prop Up Monte Paschi.

“Italy is weighing a capital increase of as much as 3.5 billion euros ($4 billion) to prop up Banca Monte dei Paschi di Siena SpA after rescue talks with UniCredit SpA fell apart, people with knowledge of the matter said.”

https://www.bloomberg.com/news/articles/2021-11-17/italy-weighs-4-billion-capital-increase-to-prop-up-monte-paschi


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Amid Global Energy Crisis, First Hungarian Power Company Goes Bust.

“Ferenc Arató, the company’s managing owner, already admitted to G7 earlier that they were having difficulties. The company went under because the price of electricity skyrocketed at the beginning of the autumn as gas prices soared.”

https://hungarytoday.hu/global-energy-crisis-first-hungarian-power-company-goes-bust/


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Belarus temporarily closes oil pipeline to the EU. [*Entirely* unconnected to the migrant crisis, I’m sure.]

“Belarus has announced unscheduled maintenance of the “Friendship” pipeline transporting oil from Russia via Belarus to a number of EU countries, RT news agency reported.”

https://www.helsinkitimes.fi/world-int/20390-belarus-temporarily-closes-oil-pipeline-to-the-eu.html


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Why Russia’s gas supplies mean Vladimir Putin will play a key role in the Europe energy crisis this winter.

“Europe depends on imported gas and 40 per cent of that comes from Russia. Here’s why its leader will be a major player in how the winter could unfold.”

https://inews.co.uk/news/world/russia-gas-supplies-vladimir-putin-nord-stream-2-europe-energy-crisis-winter-1305822


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Alibaba warns of slowdown in Chinese consumer spending.

“Recent Chinese economic data have painted a gloomier picture of the country’s growth prospects. Retail sales rose just 2.5 per cent year on year in August, far below economists’ forecasts of a 7 per cent rise…”

https://www.ft.com/content/15adadee-c6fa-4665-97ad-1ec8477de4b4


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The collapse in steel production in China over the past four months has been described as “unprecedented”…

“Iron ore market expert Mark Eames said the collapse was of an order of magnitude normally seen in major economic crises… “The question obviously that everyone will ask is, is this a temporary cutback, or is it a structural cutback?” he said.”

https://stockhead.com.au/resources/chinas-steel-collapse-is-unprecedented-but-will-it-be-temporary-or-a-long-term-shift/


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Property, Covid-19 challenges to remain with China’s economic slowdown to continue in 2022.

“China’s economic growth is likely to deteriorate further next year as rising risks of a fallout from the property market and Beijing’s zero tolerance approach to the coronavirus could weigh on conditions in the coming months…”

https://www.scmp.com/economy/china-economy/article/3156533/property-covid-19-challenges-remain-chinas-economic-slowdown


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Where Did It All Go Wrong for Emerging Markets? In a word: China…

“Emerging markets are back in the morass. They were supposed to be prime beneficiaries of a broad global reflation this year, and it hasn’t happened. The challenge is to work out why.”

https://www.bloomberg.com/opinion/articles/2021-11-19/emerging-markets-sink-under-weight-of-china-s-economic-challenge


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Collapse of tourism cost five Asian nations 1.6 million jobs: UN.

“The Philippines, Vietnam, Thailand, Brunei and Mongolia saw almost one-third of all job losses occur in the tourism sector, according to a report released by the United Nations agency on Thursday.”

https://www.aljazeera.com/economy/2021/11/19/collapse-of-tourism-costs-asian-countries-1-6m-jobs-report


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As food and energy prices soar, Sri Lankans go without…

“Global food prices have risen sharply as lockdowns to curb the spread of COVID-19 led to a drop in productivity and disrupted supply chains, pushing up transport and freight costs across the world. Sri Lanka, which imports most essential items, including sugar and milk powder, has particularly felt the pinch.”

https://www.aljazeera.com/economy/2021/11/17/as-food-and-energy-prices-soar-sri-lankans-go-without


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State of decay: How rubbish became Lebanon’s latest dumpster fire…

“The cash-strapped government is short on funds to pay the waste management company contracted to collect half the country’s garbage. Two key sorting plants destroyed in the devastating Beirut port explosion last year have yet to be repaired.”

https://www.aljazeera.com/economy/2021/11/17/state-of-decay-how-garbage-became-lebanons-latest-dumpster-fire


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Numerous protesters shot dead in Sudan as thousands join anti-coup rallies.

“At least 15 Sudanese protesters were shot dead and dozens more wounded, medics said, when thousands rallied Wednesday against last month’s coup, chanting “no to military power” amid clouds of tear gas.”

https://www.france24.com/en/africa/20211117-sudan-security-forces-fire-tear-gas-as-thousands-join-anti-coup-protests


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High food prices may push another 6 million Nigerians into poverty- World Bank.

“The World Bank estimated in June that rising prices alone would push an estimated 7 million Nigerians into poverty by 2020, without considering the direct impacts of COVID-19.”

https://www.tvcnews.tv/high-food-prices-may-push-another-6-million-nigerians-into-poverty-world-bank/


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A surge in container shipping rates poses a threat to the global economic recovery, with small countries dependent on deliveries by sea expected to be hardest hit by a spike in import prices, U.N. agency UNCTAD said on Thursday.

“A surge in demand for consumer goods during the pandemic has created major supply bottlenecks around the world…”

https://www.reuters.com/business/shipping-rate-surge-threatens-global-economy-recovery-unctad-says-2021-11-18/


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Experts have warned the worldwide supply chain is being ransacked by drug cartels and pirates.

“Over the past year, BSI has observed a significant number of criminal organisations masquerading as legitimate warehousing, transport or distribution companies.”

https://www.gallowaygazette.co.uk/read-this/experts-have-warned-the-worldwide-supply-chain-is-being-ransacked-by-drug-cartels-and-pirates-3462264


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Lack Of New Fossil Fuels Investment May Trigger A New Financial Crisis…

[I posted a similar article in my previous thread but this is a critically important issue. The global economy is highly sensitive to the flow-rate of oil and the price-spike of 2008 helped trigger the global financial crisis, so it seems likely that a tightening of supply, due to years of under-investment, could generate further price-spikes.

This time around our debt-bubbles are much larger though and central banks have fewer tools to re-stimulate economies. It could potentially crash the entire system. At the very least, and like the next El Nino, it poses a new level of challenge to industrial civilisation.]

“We think the parallels to the financial crisis of 2008 are very real, and the lack of upstream investing could exacerbate impacts to financial markets.”

https://seekingalpha.com/article/4470078-lack-of-new-fossil-fuels-investment-may-trigger-a-new-financial-crisis


You can read the previous ‘Economic’ thread here. I’ll be back tomorrow with a ‘Climate’ thread.

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