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• Singapore Open to Importing Electricity From India
  (Bloomberg) -- Singapore is open to importing electricity from regional countries including India, the...
  (Bloomberg) -- Singapore is open to importing electricity from regional countries including India, the Straits Times reported, in a push to improve energy security in the city-state.
  
  The Energy Market Authority welcomes proposals to import as much as four gigawatts of electricity into Singapore, according to the report. It is seeking bids till Dec. 29 and will select and appoint companies to import the electricity.
  
  EMA’s comments were in response to media queries on a reported plan by India and Singapore to link their power grids, the newspaper said.
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• Oil production to fall in major oil plays in US and Oklahoma
  Oil production from the nation’s major oil-producing areas,...
  Oil production from the nation’s major oil-producing areas, including the Anadarko Basin and the Permian Basin, is expected to decline in the coming months according to a new federal government report.
  
  The Anadarko’s daily production is forecast to fall from 436,000 barrels a day to 434,000 barrels daily by September. The production in the Permian Basin, based on the report by the U.S. Energy Information Administration, is forecast to drop from 5,812,000 barrels a day to 5,799,000 barrels a day.
  
  Production in the Eagle Ford play of South Texas is also forecast to decline in September.
  
  While predicting a drop in total oil production, the EIA forecast that new wells in the Anadarko and Permian Basins will see a slight increase in their daily oil output.
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• Report indicates oil patch workers aren’t likely to leave for green energy jobs
  A new report shows the number of oilfield workers in Oklahoma,...
  A new report shows the number of oilfield workers in Oklahoma, Texas, and Louisiana leaving the “dirty job” industry to work in so-called “green” jobs is less than 1% of all workers.
  
  The likelihood of those workers leaving the oil patch isn’t great, according to a new working paper from the National Bureau of Economic Research. What defines a “dirty job”? Those who work in coal, mining, oil, and natural gas.
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• Stock Market Opens Lower
  U.S. stocks opened lower Tuesday after fresh data showed stronger-than-expected...
  U.S. stocks opened lower Tuesday after fresh data showed stronger-than-expected retail sales in July, in another sign of a resilient economy even as the Federal Reserve tightens monetary policy to battle elevated inflation.
  
  The Dow Jones Industrial Average was down 160 points, or 0.5% soon after the opening bell, while the S&P 500 fell 0.4% and the Nasdaq Composite shed 0.2%.
  
  Sales at U.S. retailers increased 0.7% in July, the U.S. Census Bureau said Tuesday. That exceeded Wall Street’s expectations for a 0.4% increase.
  
  Minneapolis Fed President Neel Kashkari is scheduled to speak at 11 a.m. Eastern Time.
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• ☕️What Else is Brewing Tuesday Morning
  US Steel has another suitor: Esmark, a privately held company, offered to buy the storied company...
  
  
  • US Steel has another suitor: Esmark, a privately held company, offered to buy the storied company for $7.8 billion, a higher bid than the one US Steel recently rejected from rival Cleveland Cliffs.
  
  
  • Argentina devalued the peso by 18% and raised interest rates to 118% after a libertarian candidate who advocated burning down the central bank and has five dogs named for conservative economists snagged an unexpected win in its presidential primary.
  
  
  • The Russian ruble fell yesterday to its lowest value since the early days of the country’s invasion of Ukraine, prompting Russia’s central bank to set an emergency meeting for today.
  
  
  • Brazilian soccer star Neymar will join Saudi Arabia’s Al Hilal FC in the latest instance of the kingdom offering big money to lure a major player. One French outlet says he may earn 160 million euros over two seasons, and his current club is reportedly getting a 90 million euro transfer fee.
  
  

  
  
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