Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Thursday, July 19, 2007

News You Can Use

China Economy Expands 11.9 Percent in Second Quarter, Fastest in 12 Years China's economy grew at the fastest pace in 12 years in the second quarter and inflation surged, prompting speculation the government will raise interest rates and push the currency higher to cool growth.

Australian Dollar Trades Above 88 U.S. Cents for First Time Since 1989 Australia's dollar traded near an 18-year high versus the U.S. currency and the strongest in 16 years against the yen on demand for the higher yields offered by the nation's financial assets.

Pure Trading Exchange to Start Next Month to Compete With Toronto Exchange Canadian Trading and Quotation System Inc. may start its new electronic stock market in August, after nine months of delays, to compete with the Toronto Stock Exchange.

Husky Says Ohio Refinery Reduces Output by 75 Percent After Morning Fire Husky Energy Inc., the Canadian oil company controlled by Hong Kong billionaire Li Ka-shing, said a fire early this morning reduced production by 75 percent at its newly acquired refinery in Lima, Ohio.

Mexico Guerrilla Group Says Pemex Pipeline Bombings Were `In Self-Defense' A Mexican guerrilla group that claimed responsibility for bomb attacks on natural gas pipelines owned by Mexico's state oil company this month said it acted ``in self defense'' in a new statement.

Nymex Gas Rises After Report of Smaller-Than-Expected U.S. Inventory Gain Natural gas futures in New York rose after a U.S. Energy Department report showed supplies rose less than analysts expected, forecasts for hotter weather in key consuming regions and as crude oil surged to an 11-month high

U.S. Leading Indicator Falls More Than Forecast; Manufacturing Gauge Slows A measure of the economy's future fell more than forecast in June, pulled down by a slump in building permits that signals housing will remain the biggest drag on growth.

U.S. Department of Energy to Auction Uranium in August The U.S. Department of Energy (DOE) announced today it was soliciting proposals to sell eight lots of Natural Uranium Hexafluoride (UF6) – up to 200 metric tons (MTU). Proposals are due August 17th and the anticipated award date of the sales agreement is August 31st. Delivery will be made at the Paducah (Kentucky) gaseous diffusion plant. Full payments for the eight lots are due by September 21, 2007. The amount being offered for sale, in terms of U3O8 equivalent, represents less than 520 thousand pounds. The auction comes at a time when the spot uranium price has retreated.

Massive spending for US infrastructure?
The American Society of Civil Engineers estimates that it will take $1.6 trillion over the next five years to get the nation's roads, bridges, dams, water systems and airports into good condition.

Labels: , , ,

Check out my new gold and energy blog at