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Futures News, May 21st: Driven by fluctuating geopolitical tensions, the average crude oil price rose this cycle, and the domestic reference crude oil change rate turned positive. At 24:00 today (May 21st), the retail price limits for refined oil products will be raised. The retail price limits for gasoline and diesel will increase by 75 yuan and 70 yuan per ton respectively, equivalent to an increase of 0.06 yuan per liter for 92# gasoline, 95# gasoline, and 0# diesel. Future international oil prices will fluctuate repeatedly around the progress of US-Iran negotiations, and the next cycle is expected to show a weak trend and high volatility. The new cycles crude oil change rate will start with a negative value, corresponding to a decrease of 60 yuan/ton on the first day. The price adjustment window is at 24:00 on June 4th.ECB Governing Council member Rehn: Medium- to long-term inflation expectations have not deviated significantly.ECB Governing Council member Rehn: Wage growth is still slowing.ECB Governing Council member Rehn: In adverse circumstances, it may be necessary to raise interest rates to maintain credibility. We are moving towards an adverse scenario.May 21st, Futures.com analysts latest view: WTI crude oil futures prices have continued to fall sharply in recent intraday trading, mainly due to the break below the short-term upward channel. Previously, this channel dominated market movements, but the current break has exacerbated selling pressure, pushing market momentum towards a bearish trend. At the same time, the 50-day moving average (EMA) continues to exert dynamic negative pressure on prices, and the current price is trading below it, further increasing the likelihood of further declines in the near future. Meanwhile, although the Relative Strength Index (RSI) has entered oversold territory, it continues to release negative signals, reflecting weak buying momentum and the continued dominance of bears. Limited fluctuations are expected in the short term, but it is unlikely to change the current bearish pattern.

Desalination Plant in California Suffers Setback With Recommendation For Denial

Haiden Holmes

Apr 26, 2022 10:07

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The commission, which has the authority to reverse staff decisions but does so infrequently, is due to vote on the project on May 12.


Desalination, environmentalists argue, annihilates ocean life, consumes excessive amounts of money and energy, and will soon be rendered obsolete by water recycling.


Poseidon Water, the infrastructure subsidiary of Canada's Brookfield Asset Management, is proposing the desalination facility near Huntington Beach, just south of Los Angeles.


Poseidon has been attempting to secure approval for the project for more than two decades, spending an estimated $100 million in the process.


With the Western states of the United States suffering from a prolonged drought, officials appeared to be on the verge of approving the Huntington Beach facility. Last year, the business expressed sufficient confidence to discuss breaking ground on the $1.4 billion factory by the end of 2022.


Poseidon has operated a comparable facility in Carlsbad since 2015, although it was permitted locally prior to the state enacting regulations governing desalination plants.