Business

Sustainable Energy

Sustainable Energy
TV Shows

“The co-operation is part of Rotterdam’s ambition to supply Northwest Europe with 4.6 million tonnes of green hydrogen by 2030,” statement issued Tuesday says.
Hydrogen has a diverse range of applications and can be deployed in a wide range of industries.
Today, the vast majority of hydrogen generation is based on fossil fuels.

Madrid-headquartered energy firm Cepsa said it would work with the Port of Rotterdam to develop “the first green hydrogen corridor between southern and northern Europe,” in the latest sign of how the emerging sector is attracting interest from major companies and organizations.
In an announcement Tuesday, Cepsa — which is involved in the exploration and production of oil and natural gas — said the project would establish “a green hydrogen supply chain” between the Port of Algeciras in southern Spain and Rotterdam, the Dutch city that’s home to Europe’s largest port.

“The agreement accelerates the decarbonization of heavy industry and maritime transport and supports Europe’s energy independence and security,” the statement, which was also published by the Port of Rotterdam, said.
“The co-operation is part of Rotterdam’s ambition to supply Northwest Europe with 4.6 million tonnes of green hydrogen by 2030,” it went on to add.
The two parties have signed a memorandum of understanding related to the project. Cepsa’s shareholders are The Carlyle Group and Mubadala Investment Company Group.

Read more about energy from CNBC Pro

“Cepsa plans to export hydrogen produced at its San Roque Energy Park near the Bay of Algeciras, through hydrogen carriers such as ammonia or methanol, to the Port of Rotterdam,” Tuesday’s statement said.
The Port of Rotterdam Authority’s CEO, Allard Castelein, said northwest Europe used “far more energy than it can produce in a sustainable way.”

“We are therefore setting up multiple trade lanes for green hydrogen, together with exporting countries and private businesses all over the world,” he added.
Castelein went on to describe Southern Spain as being a “logical location to produce green hydrogen for both local use and export” thanks to its ports, wind, sun and “abundant space.”
“Setting up this trade lane between Algeciras and Rotterdam is a substantial contribution to Europe’s ambition to reduce CO2-emissions as well as increase Europe’s energy independency and stimulate our economies,” he said.
Described by the International Energy Agency as a “versatile energy carrier,” hydrogen has a diverse range of applications and can be deployed in a wide range of industries.
It can be produced in a number of ways. One method includes electrolysis, with an electric current splitting water into oxygen and hydrogen.
If the electricity used in this process comes from a renewable source such as wind or solar then some call it “green” or “renewable” hydrogen. Today, the vast majority of hydrogen generation is based on fossil fuels.

More from CNBC Climate:

Tuesday’s announcement said Cepsa was aiming to “lead green hydrogen production in Spain and Portugal by 2030 with a production capacity of 2GW.”
It added that it would develop a 7 GW portfolio of renewable energy projects — including solar and wind — to produce the renewable energy required for green hydrogen generation.

Europe’s plans

The European Commission has said it wants 40 GW of renewable hydrogen electrolyzers to be installed in the EU by 2030.
Last month, the commission’s president, Ursula von der Leyen, expressed support for hydrogen during her State of the Union address.
In remarks translated on the commission’s website, von der Leyen said “hydrogen can be a game changer for Europe. We need to move our hydrogen economy from niche to scale.”
In her speech, von der Leyen also referred to a “2030 target to produce ten million tons of renewable hydrogen in the EU, each year.”
“To achieve this, we must create a market maker for hydrogen, in order to bridge the investment gap and connect future supply and demand,” she said.
To this end, von der Leyen also announced the creation of a European Hydrogen Bank. It is hoped this will be able to invest 3 billion euros (around $2.91 billion) to support the future market for hydrogen. More

Tobias Adrian, director of monetary and capital markets at the International Monetary Fund, told CNBC Jamie Dimon’s call that U.S. stocks could tumble another 20% was “certainly possible.”
Sentiment had so far held up relatively well, but a shift in this could spark a further downturn, he said.
Adrian also warned financial stability risks are very elevated, with the global economy in a “very, very stressed moment.”

A shift in investor sentiment could see a further 20% downside for U.S. stock markets, according to the International Monetary Fund’s director of monetary and capital markets.
IMF research found that rising interest rates and future earnings expectations were driving down company valuations in the current market downturn, Tobias Adrian told CNBC’s Geoff Cutmore at the 2022 Annual Meetings of the International Monetary Fund and the World Bank Group in Washington, D.C.

Sentiment and risk premia have held up “pretty well” so far, leading to an “orderly tightening,” he said Tuesday.
Asked about a recent CNBC interview with Jamie Dimon, in which the JPMorgan chief executive said the S&P 500 could easily fall by another 20%, Adrian said it was “certainly possible.”
The benchmark index has fallen by around 25% in the year-to-date.
The U.S. Federal Reserve raised its funds rate to 3%-3.25%, the highest it has been since early 2008, in September as it attempts to cool 8.3% year-on-year inflation. The latest U.S. inflation figures are due Thursday.

Loading chart…

“My belief is that what Jamie Dimon is referring to is that there could be a shift in sentiment as well. And that would, of course, feed back into economic activity,” Adrian said.

“Now, as for the 20% number, it’s certainly possible. It’s not our baseline, but that is something that is possible.”
Adrian added the IMF had no specific figure for its baseline, but that it was one where financial conditions continue to be tightened, economic activity slows down and markets continue to be under pressure.

On Tuesday, the institution published its World Economic Outlook, in which it predicted global growth will slow to 2.7% next year, 0.2 percentage points lower than its July forecast.
It also said 2023 would feel like a recession for millions around the world, with about a third of the global economy experiencing a contraction.

Crisis risks elevated

Adrian told CNBC that despite recent volatility in areas such as U.K. government bonds, the IMF’s baseline continued to be that global credit markets remain “in an orderly manner” and would not tip into a full-blown crisis on the scale of a “Lehman moment.”
But, he added, there are a lot of risks to the downside.
“[Financial stability risks] are very elevated. They are only higher in times of acute crisis, such as the 2008 crisis, the 2020 Covid crisis or the euro crisis,” he said.
“So yes, we are in a very, very stressed moment, we do hope that we will avoid a systemic event. But the likelihood is certainly elevated at this point.”
Banks have a lot more capital and liquidity than during the 2008 crisis, when a lot of acute stress was caused by the banking system, he noted — however, an adverse scenario in emerging markets would see 30% of banking assets undercapitalized, and vulnerabilities in the non-bank financial system could spill into the banking system, he warned.

WATCH LIVEWATCH IN THE APP More

Monday – Friday, 6:00 – 7:00 PM ET

It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

Loading chart…

MGM Resorts International: “I don’t really care for that group, but you know what, I think anything can bounce in that business.”

Loading chart…

Loading chart…

Rio Tinto PLC: “I do think that it represents great assets, but if the stock’s going to reflect that in the near term, I don’t know.”

Loading chart…

Loading chart…

PubMatic Inc: “It’s so expensive. … I think it’s fine, not great, not bad.”

Loading chart…

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing at no cost to help you build long-term wealth and invest smarter.

WATCH LIVEWATCH IN THE APP More

Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer on Tuesday told investors that good things will come to those who wait for the Federal Reserve to stop raising interest rates.
“I always say there’s no give without a get. Right now, the give is that you get your portfolio all going down — the Fed’s bringing the pain,” he said.

CNBC’s Jim Cramer on Tuesday told investors that good things will come to those who wait for the Federal Reserve to stop raising interest rates.
“I always say there’s no give without a get. Right now, the give is that you get your portfolio all going down — the Fed’s bringing the pain,” he said. “The get is that you’ll eventually be rewarded with lower inflation followed by lower rates. We’re very much in the first phase, though, the give phase.”

The benchmark S&P 500 and Nasdaq Composite notched a fifth consecutive day of declines while the Dow Jones Industrial Average closed slightly up.
The producer price report, consumer price index and retail sales report will be released on Wednesday, Thursday and Friday, respectively. Wall Street expects the data to shed light on whether the central bank will continue its path of aggressive interest rate hikes — and whether the economy will enter a recession.
“Other than last week’s nonfarm payrolls report, the Fed really only cares about the consumer price index at this moment, and that comes Thursday. Those numbers are potential bombs,” Cramer said.
He reminded investors not to let temporary rallies give them hope that the market’s declines are over unless the data shows the economy is cooling. “You have to remember that the bears, not the bulls, are in charge,” he said.

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing at no cost to help you build long-term wealth and invest smarter.

WATCH LIVEWATCH IN THE APP More

Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer on Tuesday gave his take on the winning and losing S&P 500 stocks in the third quarter.
“This is a harsh market with harsh criteria,” he said.

CNBC’s Jim Cramer on Tuesday gave his take on the winning and losing stocks in the S&P 500 during the third quarter.
“This is a harsh market with harsh criteria. Constellation Energy and Enphase can meet those criteria, but everything else in the winner’s circle seems capricious, and the losers? Just not enough there to take a risk,” he said.

Winners

Arrows pointing outwards

Constellation Energy

Cramer said that the company is “perfectly crafted” for the ESG movement. 

Enphase

“The stock is volatile, but it’s been a great buy on every dip. I bet that continues,” he said.

Etsy

Cramer called the company the Amazon of handcrafted goods.

Netflix

The company’s stock should be able to continue gaining if Netflix doesn’t botch the launch of its ad-supported tier, he predicted.

Biogen

Cramer said he has faith in the company’s Alzheimer’s drug, though he believes Eli Lilly’s will be better.
Losers

Arrows pointing outwards

Charter Communications

Cramer said that while the company’s profitable, it’s lack of growth means that its stock is going nowhere.

FedEx

The stock will likely be in the penalty box for at least three to six months after the company’s recent earnings miss and warnings of a worldwide recession, he said.

Lumen Technologies

Cramer said he wouldn’t touch this stock with a 10-foot pole.

Catalent

The Food and Drug Administration’s inspection of the company’s plant, which held up the distribution of Moderna’s Covid booster, likely hurt Catalent stock’s performance, he said.

VF Corp

Cramer said he has no faith in the apparel stock’s ability to rally in the current inflationary environment.
Disclaimer: Cramer’s Charitable Trust owns shares of Eli Lilly.

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing at no cost to help you build long-term wealth and invest smarter.

WATCH LIVEWATCH IN THE APP More

Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer on Tuesday said that there are three stocks that could be set to rally.
“The charts, as interpreted by Carolyn Boroden, suggest that Twitter, Valero and Occidental [Petroleum] could have some upside here,” he said.

CNBC’s Jim Cramer on Tuesday said that there are three stocks that could be set to rally.
“The charts, as interpreted by Carolyn Boroden, suggest that Twitter, Valero and Occidental [Petroleum] could have some upside here. I’m more cautious on Twitter because it’s an arbitrage play, but the other two have my attention,” he said.

To explain Boroden’s analysis, Cramer first examined the daily chart of Twitter:

Arrows pointing outwards

The stock has made a pattern of reaching higher highs and higher lows, which is a “textbook sign of strength,” he said. 
At the same time, the key moving averages that Boroden watches look bullish. The stock is trading above both the 200-day and 50-day simple moving averages. In addition, the 5-day exponential moving average is crossing over the 13-day, according to Cramer. 
“That’s her favorite buy signal,” he said.
Cramer added that Boroden sees Twitter stock easily running to $53.43 or even $54.87. He acknowledged that Elon Musk’s back-and-forth with Twitter on their deal for him to purchase the company at $54.20 a share could hurt the stock.

“I think our upside is capped at that level and if something goes wrong, wow, the stock will plummet through Boroden’s support levels in the mid-to-high $40s, at which point she says you need to go bearish because the bull thesis is toast,” he said.
For more analysis, watch Cramer’s full explanation below.

Jim Cramer’s Guide to Investing

Click here to download Jim Cramer’s Guide to Investing at no cost to help you build long-term wealth and invest smarter.

WATCH LIVEWATCH IN THE APP More

Dr. Ashish Jha, head of the White House Covid task force, said the U.S. has made major strides in fighting Covid since the early days of the pandemic.
“If you are up to date with your vaccines and if you get treated if you have a breakthrough infection, your risk of dying from Covid is now close to zero,” Jha said.
Health officials are expecting Covid infections to increase in November through January as they have every fall and winter since the pandemic began.
Jha said everyone ages 12 and older should get their new omicron Covid boosters by Halloween.

White House COVID-19 Response Coordinator Dr. Ashish Jha speaks at the daily press briefing at the White House on October 11, 2022 in Washington, DC.
Kevin Dietsch | Getty Images

People who stay up to date on their vaccines and receive treatments when they have breakthrough infections face almost no risk of dying from Covid-19, a top health official said on Tuesday.
Dr. Ashish Jha, head of the White House Covid task force, said the U.S. has made major strides in fighting Covid since the early days of the pandemic when thousands of people were dying daily from the virus.

“If you are up to date with your vaccines and if you get treated if you have a breakthrough infection, your risk of dying from Covid is now close to zero,” Jha told reporters at the White House.
More than 300 people are still dying every day from Covid on average, according to data from the Centers for Disease Control and Prevention.
Jha told reporters last week that 70% of the people dying from the virus are 75 and older and don’t have the latest shots or aren’t getting treated as needed. He said this level of death is unacceptable given all the tools the U.S. now has at its disposal to manage the virus.
Jha encouraged people who have Covid symptoms to get tested so they can get diagnosed and receive treatments such as the antiviral pill Paxlovid when needed.
“Treatments which we have available today for free keep people out of the hospital, keep people out of the ICU, prevent the worst outcome at all,” Jha said.

People older than 50 and those who are otherwise at elevated risk, such as people with weak immune systems or serious medical conditions, should be seriously considered for treatments, he said.
The U.S. rolled out new booster shots that target the dominant omicron BA.5 subvariant in September. Although there’s no real-world data on their effectiveness yet, Jha said they should provide a much higher degree of protection based on what scientists know about how the human immune system works.
Health officials are expecting Covid infections to increase in November through January as they have every fall and winter since the pandemic began, Jha said. But it’s difficult to predict whether the U.S. will face another major Covid surge because the virus continues to evolve, he added.
“We are not helpless against these challenges. What happens in the weeks and months ahead will have a large impact on how the winter goes and really what happens this winter is largely up to us as the American people,” Jha said on Tuesday.
He called on everyone ages 12 and older to get their new Covid booster shot by Halloween so they have protection in time for Thanksgiving when the holiday season gets into full swing. Everyone who is eligible should go out and get their annual flu shot as well because health officials are expecting a significant flu season for the first time since the pandemic began, he said.
One caveat is people who recently caught Covid can wait three months to get their booster because infection also boosts your immunity, Jha said.
“Don’t wait — get your new flu shot and your new Covid shot today,” Jha said. “If Americans did that we could save hundreds of lives each day this winter.”

CNBC Health & Science

Read CNBC’s latest global health coverage:

WATCH LIVEWATCH IN THE APP More

Dr. Ashish Jha, head of the White House Covid task force, said health officials are keeping a close eye on several coronavirus omicron subvariants because they render many treatments ineffective.
But the new booster shots should provide a much higher degree of protection against them because they are all descendent from omicron BA.2 or omicron BA.5, Jha told reporters at the White House.
People should get their new booster by Halloween so they have protection by the time families gather for Thanksgiving, he said.

White House COVID-19 Response Coordinator Dr. Ashish Jha speaks to reporters during a press briefing with White House Press Secretary Karine Jean-Pierre at the White House on July 25, 2022 in Washington, DC.
Anna Moneymaker | Getty Images

The U.S. is tracking several coronavirus omicron subvariants that more easily evade immunity, but the new booster shots should protect against them, a top health official said on Tuesday.
Health officials are closely watching the subvariants because they render many treatments ineffective, said Dr. Ashish Jha, head of the White House Covid task force.

But the new booster shots available in the U.S. should provide a much higher degree of protection against the variants because they all descend from omicron BA.2 or omicron BA.5, Jha told reporters at the White House.
The U.S. rolled out updated boosters that target the omicron BA.5 variant in September. Pfizer’s new shots are available for people ages 12 and up, while adults ages 18 and older are eligible for Moderna’s boosters.
Omicron BA.5 is causing about 80% of new infections in the U.S., according to data from the Centers for Disease Control and Prevention. But other subvariants such a BA.2.75, BA.4.6 and BF.7 are making small inroads, according to the data.
Jha said health officials expect infections to increase from November through January. He added that it is hard to predict whether there will be a major surge because the virus is evolving.
People should get their new booster by Halloween so they have protection by the time families gather for Thanksgiving, he said. But people who recently caught Covid can wait three months to get the new shots because infection also boosts immunity, he added.

More than 11 million people have received the new boosters so far, according CDC data. Jha said he expects more people will get the shots this month before the holiday season.
U.S. health officials are most concerned about the elderly. Jha told reporters last week that 70% of those dying from Covid are 75 and older. He said most elderly people who are dying either are not up to date on their vaccines or are not receiving treatments after they have a breakthrough infection.
More than 300 people are still dying a day from Covid on average, according to CDC data. Jha said last week that the deaths are unacceptable given the wide availability of vaccines and treatments.
“If you are up to date with your vaccines and if you get treated if you have a breakthrough infection, your risk of dying from Covid is now close to zero,” Jha said on Tuesday.
Jha also criticized Congress for failing to pass the White House’s request for $22 billion in Covid funding. The Biden administration had to shift money around to find funding to stockpile the new booster shots.
As a consequence, the U.S. does not have an adequate national stockpile of personal protective equipment or Covid tests, Jha said.
The U.S. does not have money to invest in developing the next generation of vaccines and treatments, Jha said. He added that the current booster campaign has been more limited because of the lack of funding.
“No doubt about it, that our response has been hampered by that lack of funding,” Jha said.

CNBC Health & Science

Read CNBC’s latest global health coverage:

WATCH LIVEWATCH IN THE APP More