Citigroup warns that the boom in U.S. LNG exports could be headed for a 2020 bust

first_imgCitigroup warns that the boom in U.S. LNG exports could be headed for a 2020 bust FacebookTwitterLinkedInEmailPrint分享Bloomberg:A global glut of natural gas has gotten so massive that U.S. exporters could soon face their worst-case scenario: Halting shipments to get supply and demand back in balance.Prices for the heating and power-plant fuel may collapse in Europe and Asia next year to levels that would force U.S. liquefied natural gas suppliers to curb output, Citigroup Inc. said in a note to clients last week. Morgan Stanley sees as much as 2.7 billion cubic feet a day of American exports curtailed around the second or third quarter, assuming normal weather. That’s about half the volume now being sent abroad.China’s demand for U.S. LNG has plunged amid the trade war, while Europe’s gas storage is almost full and tankers carrying the fuel are taking unusually long journeys in search of better prices. That’s created a “toxic witch’s brew” that’s making it harder to find a home for American exports, according to Madeline Jowdy, senior director of global gas and LNG for S&P Global Platts in New York.“It’s also a harbinger of bigger troubles ahead for U.S. exporters in the second quarter of next year, when global demand is at its weakest point and the U.S. will have even more volumes to place” as new export terminals start up, Jowdy said in an email.Capping LNG production is an extreme measure, but the idea is gaining traction as new terminals from the U.S. to Australia unleash exports faster than demand can catch up. Gas for near-term delivery in Asia has lost half its value in the past 14 months, with the Dutch benchmark nearly matching that decline. A mild winter would make the glut even worse — bad news for U.S. suppliers like Cheniere Energy Inc. and Sempra Energy.In the past three years, soaring gas output from shale basins has vaulted the U.S. into the ranks of the world’s largest LNG producers. The nation is widely seen as a so-called swing supplier because its exports can respond quickly to a volatile market.More: Gas ‘witch’s brew’ has U.S. exporters facing worst-case scenariolast_img read more

Dread’s late 3 lifts No. 16 Penn State over Rutgers

first_img“He knows that I’m confident in him,” Chambers said. “He knows the players are confident in him. As soon as it left his hands I knew it was in.”But coming out of the huddle with his team suddenly trailing after a Geo Baker jumper, Dread didn’t know he would get the ball.The play was designed to go to Penn State’s leading scorer Lamar Stevens for an inside shot that Penn State hoped would send the game to overtime.When Dread was left alone behind the arc, however, Izaiah Brockington found him.“When the play’s designed for Lamar, and I come off and knock it down, that just goes to show how much my teammates believe in me,” Dread said. “If I don’t shoot, I don’t play.” Associated Press February 26, 2020 Dread’s late 3 lifts No. 16 Penn State over Rutgers But he appears to be nearing a return.Jones, who was averaging 14.1 points per game before going out of the lineup, warmed up with the team in shorts and a tank top and appeared to work up a bit of a sweat. He was 2-for-3 on 3-pointers over the final two minutes of the team’s shootaround. Chambers would only say Jones would play once team doctors clear him to do so.WHAT WAS THAT?The Nittany Lions turned a bizarre sequence into quick points late in the first. With just over four minutes to play, John Harrar rainbowed an inbounds pass over a Rutgers defender toward Jamari Wheeler. But before it reached him, the ball bounced awkwardly off Penn State’s glass and Wheeler had to scramble to prevent it from careening out of bounds.The speedy Wheeler calmly corralled it, fired it down the court to Stevens who made an easy layup. Share This StoryFacebookTwitteremailPrintLinkedinRedditSTATE COLLEGE, Pa. (AP) — Patrick Chambers wants No. 16 Penn State to develop a killer instinct.He may want to show his Nittany Lions replays of Myles Dread’s effort from Wednesday night.Dread hit a go-ahead 3-pointer with 28 seconds left to lift Penn State over Rutgers 65-64 after the Nittany Lions blew a 21-point lead. Akwasi Yeboah missed a 3-pointer the other way and Dread was swarmed by his teammates who snapped a two-game losing streak.center_img Young, who entered the night averaging eight points per game, hit a layup with 14:45 left and added two more along with a dunk from Ron Harper Jr. and a layup from Myles Johnson to pull the Scarlet Knights within a point with 10:03 left.Stevens scored the next two baskets and Penn State got some more offense to go back up by 10.Both teams played sturdy defense early before the Nittany Lions edged ahead 13-10 eight minutes in. Stevens increased his team’s lead with a 3-pointer from the corner two minutes later. Stevens’ first make of the game sparked a 27-9 run to make it a 21-point lead.ILL SHOTPenn State’s second-leading scorer Myreon Jones missed his sixth-straight game with an undisclosed illness. THE BIG PICTURERutgers: The Scarlet Knights have had a season to remember, but most of the highlights came in the first half when they went 12-3 up until Jan. 7. Since then they’re 6-8.Penn State: The Nittany Lions have been coughing up big leads in the second half of the season. They needed to halt their skid and were able to do so, though coach Patrick Chambers still wants his team to develop a killer instinct to put teams away.UP NEXTRutgers: Hosts No. 9 Maryland on Tuesday. Brockington scored 16 points and Stevens added nine for the Nittany Lions (21-7, 11-6 Big Ten). Dread finished with 11 and a career-best seven assists.“That game could’ve got ugly and it didn’t,” Rutgers coach Steve Pikiell said. “Our guys battled and stayed the course.”Trailing 40-19 late in the first half, the Scarlet Knights tied the game at 62 with 1:32 left on Geo Baker’s layup. His jumper gave Rutgers a two-point lead with 42 seconds remaining before Dread’s big shot handed Rutgers (18-11, 9-9) its third-straight loss.Jacob Young scored 13 points for the Scarlet Knights who rallied after Penn State led by double digits well into the second half.They cut it to 51-50 with a 15-2 run that began as Young found ways to penetrate Penn State’s defense. Penn State: Visits No. 18 Iowa on Saturday.last_img read more

Lakers’ Magic Johnson at center of NBA probe into Paul George tampering

first_img Newsroom GuidelinesNews TipsContact UsReport an Error Team officials aren’t allowed to make contact with players or their agents to discuss future plans unless it’s after the opening of the players’ free-agency year on July 1.The Pacers’ charges represent a growing concern around the league that potential suitors are reaching out to players and agents with one or two years left on current deals, trying to manipulate opt-outs and trades, league sources said.George, who grew up in Palmdale, informed the Pacers in early June that he planned to opt out of his contract in 2018 and intended to sign a free-agent deal with the Lakers. The Lakers were among the teams who made offers to the Pacers before the NBA draft, but he was ultimately traded to the Oklahoma City Thunder for fourth-year guard Victor Oladipo and second-year big man Domantas Sabonis on June 30.For the Pacers’ purposes, the notion that George wants to sign with the Lakers in free agency next summer surely dampened his trade market.George has long been public in his desire and interest to potentially play for his hometown Lakers, and the 58-year-old Johnson has been open about his affinity for George ever since rejoining the organization’s front office in February. During an appearance on “Jimmy Kimmel Live!” in February, Johnson even joked about ways in which he could openly recruit George while avoiding the league’s tampering rules.“I had to go to school. I had to go to CBA school, salary cap school and tampering school,” he said with a laugh. “You can’t tamper with somebody else’s player.”Kimmel pressed on, asking what would happen if Johnson ran into George somewhere.“We gonna say hi because we know each other, you just can’t say, ‘Hey, I want you to come to the Lakers,’ even though I’ll be wink-winking like, ‘You know what that means, right?’”Tampering likely happens often, especially in a social media age in which team rivalries can become diminished by the relationships between star athletes. Draymond Green helped recruit Kevin Durant from Oklahoma City to the Golden State Warriors a year ago, with text messages that Sports Illustrated reported began after the Warriors’ loss to the Cleveland Cavaliers in Game 7 of the NBA Finals. Durant was still under contract with Oklahoma City for 12 days while the conversations took place.George, 27, is one of the NBA’s most talented two-way players and has long been connected to possibly playing for the Lakers. The Lakers made a concerted effort to clear salary-cap space to pursue elite free agents such as George and Cleveland’s LeBron James next summer.George could be eligible to sign a four-year deal worth approximately $130 million with the Lakers next summer in free agency, though Oklahoma City will be able to offer him more than any potential suitor if he decides he wants to stay put.George averaged 23.7 points, 6.6 rebounds and 3.3 assists in 2016-17. The four-time All-Star was part of the 2016 USA Olympic gold-medal team less than two years after suffering a horrific broken leg. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with Packers“As the NBA’s statement made clear, we cannot comment about the specifics of any ongoing investigation. We can confirm, however, that we are cooperating fully with the NBA in the hope of clearing our name as soon as possible,” the statement said.If the league can prove the Lakers were guilty of tampering with George while he was under contract with the Pacers, the Lakers could be punished in a variety of ways, including a loss of draft picks, financial fines up to $5 million, future restrictions on acquiring George and possible suspensions of any offending officials.If the NBA were to find evidence that the Lakers had engaged in a side agreement with George, he could be prohibited from signing a free-agent deal with the team or being part of any future trade to the Lakers.It is unclear if any evidence exists that could incriminate Johnson or the Lakers. The NBA is using the law firm of Wachtell, Lipton, Rosen and Katz to probe the matter, the league said in a statement released Sunday.The story on the tampering charges involving George was first reported by Patreon’s Peter Vecsey.center_img The possibility of impermissible contact between Lakers president of basketball operations Magic Johnson and four-time All-Star Paul George is at the heart of an NBA probe into possible tampering, according to an ESPN report.The Indiana Pacers filed tampering charges with the NBA against the Lakers, and the league issued a statement Sunday saying a probe is underway.“The Lakers have been cooperative and, at this point, no findings have been made. We have asked both teams to refrain from commenting while the investigation is ongoing,” the NBA statement said.The Lakers are denying the allegations filed by the Pacers, insisting there is no evidence of tampering, and they expect to be cleared in the matter.last_img read more

Wellington police notes: Monday March 11, 2013

first_imgWellington Police Notes for Monday, March 11, 2013•7:40 a.m. Russell J Frazee, 49, Wellington, was issued a notice to appear and charged with seatbelt violation.•7:52 a.m. Ashley D. Antoine, 26, Wellington was issued a notice to appear charged with seatbelt violation.•10:30 a.m. Colby Pepper, 19,  Wellington, was issued a notice to appear and charged with dog at large.•10:38 a.m. Officers investigated a theft of a license plate in the 400 block. W. Harvey,  Wellington.•11:18 a.m. Officers investigated theft of services in the 400 block W. Harvey,  Wellington. •12:45 p.m. Officers investigated a theft of a license plate in the 500 block. N. Blaine,  Wellington.•1:16 p.m. Officers took a report of a suicide threat in the 500 block S. F,  Wellington.•2:08 p.m. Officers investigated a theft of a vehicle in the 900 block. E. 16th,  Wellington.•2:14 p.m. Officers investigated domestic violence battery and criminal damage to property/DV by a known suspect in the 500 block. S. F,  Wellington.•3:11 p.m. Victoria G. Jackson, 33, Wellington was issued a notice to appear charged with seatbelt violation.•3:38 p.m. Officer investigated a theft of a spare tire and wheel in the 200 block N C, Wellington.last_img read more

Three things we learned from Ajax v Tottenham

first_img0Shares0000Lucas Moura’s hat-trick fired Tottenham to their first Champions League final © ANP/AFP / Koen van WeelAMSTERDAM, Netherlands, May 9 – Tottenham staged an incredible fightback to reach their first Champions League final with an astonishing 3-2 win over Ajax in the semi-final second leg on Wednesday.Here, AFP Sport looks at three things we learned from the Johan Cruyff Arena clash: Lucas writes his name in Spurs’ historyWhen Lucas Moura played kick-about with his one-year-old son on the pitch at the Tottenham Hotspur Stadium after his hat-trick against Huddersfield in April, it seemed the Brazilian forward’s season had reached its high point.But the 26-year-old’s treble in that low-key 4-0 win was just the start of a remarkable end to the season for the unsung hero whose incredible hat-trick broke Ajax hearts.Unwanted by Paris Saint Germain, who sold him to Tottenham in January 2018, Lucas was a bit-part player for much of his first season in north London.In a testimony to his strength of character, he refused to be marginalised again this term and quickly proved his worth with a brace in Tottenham’s win at Manchester United in August.By the time injury sidelined Harry Kane in the Champions League quarter-finals, Lucas was primed and ready to seize his chance.However, even Lucas would have been forgiven more pinching himself if he had learned how his trip to Amsterdam would turn out.With Tottenham two down on the night and three goals behind on aggregate, all looked lost.But Dele Alli’s clever turn and pass into the area sent Lucas sprinting through for a cool finish past Andre Onana to give Tottenham an unexpected lifeline in the 55th minute.Four minutes later they punished more nervous defending from Ajax to strike again as Lucas spun around to drive into the corner after Fernando Llorente’s close-range effort was pushed out by Onana.It was Lucas’s fourth goal in the competition this season, his latest priceless contribution coming after he also scored the late equaliser in Barcelona that ensured their progress from the group stage.And with just seconds left in Tottenham’s semi-final escape bid, he pounced on Alli’s pass to drill a fierce winner into the far corner.Alongside Danny Blanchflower, Glenn Hoddle, Paul Gascoigne and Ricky Villa, Lucas will now forever be enshrined as a Tottenham legend.Confident Ajax pay the priceAjax’s Dutch defender Joel Veltman reacts after their stunning loss to Tottenham © AFP / EMMANUEL DUNANDWith just 45 minutes standing between Ajax and their first Champions League final since 1996, the Dutch club were engulfed by a fatal wave of arrogance.As the half-time whistle blew, Ajax players, including Hakim Ziyech, could be seen grinning from ear to ear as they contemplated their surely inevitable progress to the Madrid showpiece.They were leading by three goals on aggregate after scoring twice in the first half to leave Tottenham on the brink.Such was the confidence pumping through the raucous arena that before the second half began, the entire crowd, including Ajax great Patrick Kluivert, engaged in a mass singalong to Bob Marley’s ‘Don’t Worry About a Thing’.The chant continued into the opening seconds of the half, but that rock-solid belief was quickly shattered as Lucas struck twice in a matter of minutes to send shock-waves through the Ajax team and their now less boisterous supporters.The panic was palpable and Ajax couldn’t recover as waves of Tottenham attacks culminated in Lucas’s dramatic winner.It was a bitter end to a breakthrough campaign for Ajax’s young guns, who had beaten Real Madrid and Juventus en route to the last four.Pochettino’s dream comes trueMauricio Pochettino celebrates Tottenham’s remarkable victory at Ajax © AFP / Adrian DENNISSpeaking on the eve of the second leg, Mauricio Pochettino uttered a prediction that will rank among the most prescient in Tottenham’s history.Asked if his side would go for broke right from the start as they tried to overturn that one-goal deficit, the Tottenham manager replied: “We could win it in the first minute or the last minute.”Pochettino’s gambit was spot on as Lucas’s stoppage-time strike fired Tottenham through to an all-Premier League final against Liverpool in Madrid on June 1.It was a tour de force for the emotional Pochettino, who turned the game in Tottenham’s favour by sending on Spanish striker Fernando Llorente at half-time.The Argentine wept uncontrollably at the final whistle as Tottenham celebrated becoming only the second team to reach the final after losing the first leg at home.Tottenham’s first European final since they won the 1984 UEFA Cup also offers Pochettino a chance to win his first trophy as a manager.Pochettino made the staggering admission this week that he would consider quitting if Tottenham were to lift the Champions League.Surely Tottenham chairman Daniel Levy wouldn’t let him get anywhere near the exit door after this miraculous triumph.0Shares0000(Visited 1 times, 1 visits today)last_img read more