Patrick Reames - Author Archive

Fracking Boom Seen Raising Household Incomes by $1,200

From Bloomberg BusinessWeek By Jim Efstathiou Jr. Surging oil and natural gas production brought on by hydraulic fracturing is lifting the U.S. economy by lowering energy costs for consumers and manufacturers, according an industry-funded report. In 2012, the energy boom supported 2.1 million jobs, added almost $75 billion in federal... continue reading

Glencore Xstrata writes down $7.7bn in assets

BBC News – Newly-formed mining giant Glencore Xstrata has written down the value of Xstrata’s assets by $7.7bn (£4.9bn), and reported a drop in revenues. The firm, which was created in May, said the write-down reflected tougher conditions in the mining sector. Revenues in the first half of 2013 fell... continue reading

Euro Zone Returns to Growth, but Malaise Lingers

Wall Street Journal  BERLIN—The euro zone’s return to slow growth—confirmed by data Wednesday showing a 0.3% economic expansion in the second quarter—is likely to encourage European politicians to claim that the region’s crisis is ending. But most economists say the recovery is too sluggish to overcome the deep problems ailing... continue reading

Financial Pressures Raise Speculation of Enron-Like Failures

Ken Silverstein in Forbes – 08/08/13 It is not Enron. But it is raising questions: Two major electricity and gas trading firms are under investigation by a federal agency. How much has changed over a dozen years and is market manipulation even possible nowadays? The regulatory process is now much... continue reading

Aluminum Costs Falling as Lawmakers Focus on Long Waits

From Bloomberg By Agnieszka Troszkiewicz – Aug 5, 2013 9:13 AM CT The rates to obtain aluminum tumbled the most in 20 months in Europe last month and retreated from a record in the U.S. as lawmakers and regulators scrutinize long lines for metal that buyers say raised their overheads.... continue reading

Aspect Enterprise Solutions Announces Enhanced Features For Argus Media News And Prices In Market Data And Analytics Portal

August 1, 2013 – Aspect Enterprise Solutions, a leading provider of multi-commodity trading and risk management Software-as-a-Service (SaaS) applications delivered in the Cloud, today announces new delivery choices for the way traders can view and leverage Argus Media news and pricing services in AspectDSC, its Decision Support Center for traders.... continue reading

Seminole Energy Services Selects Allegro to Manage its Energy Products and Services Business

DALLAS, July 30, 2013 – Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) solutions, announced today that Seminole Energy Services, L.L.C. selected Allegro 8 as a comprehensive solution to manage its energy products and services operations. Seminole is a results-oriented, integrated energy products and services... continue reading

Agency says JPMorgan manipulated power prices

Posted on July 29, 2013 at 5:35 pm by Associated Press: WASHINGTON — U.S. energy regulators are accusing JPMorgan Chase & Co. of manipulating electricity prices in California and the Midwest in 2010 and 2011. The Federal Energy Regulatory Commission said in an enforcement notice Monday that bank used improper... continue reading

Trading Halt Shows UN Carbon System in Jeopardy

From Bloomberg: An unprecedented freeze in United Nations carbon trading is fanning speculation the five-year-old market designed to combat greenhouse-gas emissions in poor countries is in danger of becoming superfluous. Not a single UN Certified Emission Reduction, or CER, changed hands on July 22 and July 23, according to data... continue reading

DOE study: Fracking chemicals didn’t taint water

From USA Today Kevin Begos, Associated Press 10:23 a.m. EDT July 19, 2013 PITTSBURGH (AP) — A landmark federal study on hydraulic fracturing, or fracking, shows no evidence that chemicals from the natural gas drilling process moved up to contaminate drinking water aquifers at a western Pennsylvania drilling site, the... continue reading

The Triple Point Acquisition by Ion is a Done Deal

While no press announcements have been forthcoming from either Triple Point or Ion, the acquisition of Triple Point by Ion Investments has been consummated. The Westport CT (home of Triple Point) newspaper says the deal was announced last Saturday (though you’d be hard pressed to find that announcement anywhere other... continue reading

EKA has quickly moved into the Upper Echelon of the CTRM Markets

EKA Software Solutions, with the recent announcement of their investment in Australia-based Matrix Group, has now built a base of products, personnel and revenues that has separated the company from the mid-tier physical-capable CTRM vendor pack and moved them into a select group of vendors – those with more $25... continue reading

Barclays to fight $453 million power fine in U.S. court

NEW YORK (Reuters) – Barclays will contest a record $453 million fine imposed by a U.S. energy regulator against the British bank and four of its power traders, setting up a likely federal court battle. The fines, which were upheld by the Federal Energy Regulatory Commission (FERC) on Tuesday, confirm... continue reading

Eka Acquires Stake in Commodity Handling Software Specialist MatrixGroup

16 July 2013 Adelaide, Calgary, Norwalk, London & Bangalore: Eka Software Solutions, a global provider of end-to-end commodity solutions, today announced that it has extended its commodity management platform with MatrixGroup, the state-of-the-art automated commodity handling software vendor.   Manav Garg, Eka CEO and founder, commented: “Our investment in MatrixGroup... continue reading

Europe Reversing Course on some Biofuels?

Published today by Reuters…If this change of direction occurs, one has to wonder about the impacts on the oilseeds markets.   EU lawmakers back limit on some biofuels, more votes to follow * U-turn follows concerns that some biofuels harm climate * Industry says limit on crop-based fuels is too... continue reading

Can Commodity Hedge Funds Grow via Junk Mailing?

From the ComTechAdvisory Blog The Securities and Exchange Commission voted yesterday to allow hedge funds and other private investment firms to start publicly advertising for investor dollars, something that has been strictly off-limits since the 1930’s.  With this change, firms will no longer have to limit their fund raising to... continue reading