Member Info for BlueGlow

Lots of info here:

https://data.jncc.gov.uk/data/54e00371-b431-43fa-96d5-44c45af63414/JNCC-Report-603-FINAL-WEB.pdf

"The OSPAR convention has not made any recommendation for the removal of pipelines; therefore, there is no obligation or legal requirement for their removal. In most North Sea countries (with the exception of Denmark), pipeline decommissioning is subject to comparative assessment process, which is done in consultation with other North Sea stakeholders."

Options for decommissioning include:

"Decommissioning in situ: include minor intervention where pipelines are left in place such that they do not pose a threat to other sea users. This might include reburial or rock dump on exposed, at-risk or pipeline ends. Minimum intervention would be to cut the pipeline at either end and then protect the exposed ends either by re-trenching or rock dump."

It would appear this is the option being pursued, so the pipeline will remain in place.

Yeah, agree.

The decommissioning process of the kinsdale area gas fields will not result in the removal of the subsea pipeline, as was suggested earllier today.

Kinsdale energys documentation of the process sates they intend "to leave subsea pipelines and cables in-situ".

https://www.kinsale-energy.ie/wp-content/uploads/2022/10/Brochure_V11_Mar_2017.pdf

The two day survey being conducted will be to pick up on any area of concern where the subsea infrastructure may require protection from other sea users / fishing gear etc, the obvious example being the cut end of the pipeline. But the pipeline will remain available for Mag Mell.

Really good calls on both YU and TXP Trek!

I traded YU recently, but not since the Final Results mid March. Macro has kept me out recently, thats all.

From Bloomberg TV.
Professor of finance on the Fed's interest rate role in the banking crisis.

https://www.youtube.com/watch?v=u_EsowEaDus

JOG up on RNS - with NEO Energy

Do you mean the recommend post function isnt available for you?

This line - "Oh and they blame much of the sewage spills on storm overflows. Must be the wrong type of rain!"

Making me laugh lots and lots :D

Thanks nom, appreciated, ye interesting read!

Short video update from Bloomberg on the WAL situation
https://www.youtube.com/watch?v=gpjgmVgHGNo

Western Alliance have issued an update to calm the situation:

Western Alliance Bank, today provides additional unaudited financial information and clarifies deposit levels as of March 31, 2023:

End of quarter total deposits were $47.6 billion compared to $53.6 billion as of December 31, 2022.

As noted previously, the Bank experienced elevated net deposit outflows surrounding the announcements of the Silicon Valley Bank and Signature Bank closures in mid-March, concentrated primarily in our Technology and Innovation and Settlement Services groups, with net outflows falling sharply and returning to normalized levels by March 17.

Since March 20, deposit balances stabilized and grew approximately $900 million to quarter end.

Since March 31, quarter-to-date deposit growth has continued this trajectory and increased an additional $1.2 billion as of April 4.

Total insured deposits, including collateralized and pass-through insured deposits, represent approximately 68% of total deposits, significantly higher than year-end. This increase in the proportion of insured deposits following the elevated outflows in mid-March was driven almost entirely by strong utilization and growth in reciprocal deposits and collateralized deposits for clients.

Western Alliance down over 15% so far after releasing a financial update that, despite typically doing so, didnt include its deposit balance...

A raft of first-quarter earnings updates are due from the banks soon, which will give an idea of how severe the deposit outflows have been. So there could be a return to high volatility, depending on the numbers.

Still feel raising the level of federal deposit insurance would be wise to avoid a run, even if just temporarily, or just on the regional/community banks. When depositors see the share price slide they pull out their cash and the whole thing becomes self-fulfilling.

As for Western Alliance, insured deposits are up, from 55% to 68%, which sounds like an improvement, but may be due to deposit flight. A research note from a Jefferies analyst - retained a buy rating, which has probably prevented a bigger drop today.

From the link in the post below:

Scientists fear that a continued absence from the scheme will lead British R&D to fall behind globally.

Dr Mike Galsworthy, a researcher and campaigner described Sunak’s plan as “unspeakably idiotic.”

“To be a science superpower or anything close to it, we need to rejoin Horizon enthusiastically… and *then* invest in conferences, meetings, and new mechanisms to rapidly re-establish the UK as a European team leader,” Galsworth said in a tweet. “So WHAT is Rishi Sunak playing at?”

Posted about this earlier Mick.

But ye, its outrageous that we would undermine our own scientific community in order to preserve the notion of sovereignty, its the whole Brexit argument in miniature.

Toddlers have a better grasp of what it means to cooperate than this Gov.

https://thenextweb.com/news/sunak-dims-hopes-of-rejoining-eu-horizon-research-programme

Unlucky with that one Trek,

All i know is revenue growth has been sluggish for a while, so i wouldnt want to get stuck in there on the wrong side of a trade.

Yeah, just dont like the way the conservatives frame these things as a Cold War style contest Tro.

And spurning the chance to rejoin the Horizon programme is just bonkers imo.

You know when he says he's going to "turn Great Britain into a science Superpower"

Does anyone else get the impression that he isn't envisaging some cool new tech to make the world a better place.

Rather, he just wants to Beat everyone else at Science...

So we can brag about it and look down on our less scientifically advanced neighbours?

He's up for a bit of the EU's Horizon programme.

"BUT ONLY ON OUR TERMS!"

One wonders what his problem is with collaboration in order to advance science and mankind, but if involves foreigners, there's always a problem...

Great British science, is the best science!

# We dont need experts!

https://thenextweb.com/news/sunak-dims-hopes-of-rejoining-eu-horizon-research-programme

A member of the BOE monetary policy committee suggesting interest rate cuts.

“I expect that the high current level of Bank rate will require an earlier and faster reversal, to avoid a significant inflation undershoot.”

Due to easing of supply chain issue and lower energy prices.

CPI in Spain almost halved a few days ago, 3.3% ( core rate remains higher)
Germany down into the 7's from mid 9's

Drewry’s composite World Container Index shows that prices dropped by 2% last week, to $1,716.85 per 40ft container – which is 79% less than a year ago.

Ever since the markets got choppy ive tried to stay in cash as much as possible.

Has felt like everything i hold has as much chance of going down as up, so have just traded very short term.

Exception being PRD, its got such huge potential, and ive been lucky to buy at opportune times so am comfortable in there.

Have been waiting an age to get some MAFL after nom (thanks nom) pointed them out. But the price hasnt come down and so ive waited and waited, and waited some more. Its been so long i cant even remember why i liked them so much, just that i did, and wanted to buy some :)

But yeah, done ok the last few weeks by being very, very cautious. Was too gung-ho early in the year and got stung a few times!

Plus the CEO of AXL (Marshall Abbott) has the demeanour of a Texan oil guy from the movies, you know like big hat and Yeehaa! when the well pops kinda thing :)

A relatively unimportant point, but it all adds to the charm lol.

Yeah well up so not fretting about the volatility, bought the placings.

Have been mostly trading the banks recently, 25% swings in a day in the States, but its settled down now so fees and FX become too much of an issue.

I would be all over AXL, but they have a ton of warrants outstanding that are holding the price back, but the operation is text book so far, really impressed, bringing wells online every 5 minutes :)