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July 19th - According to NewsNation: US President Trump reiterated that Iran "cannot and should not have nuclear weapons." After Iran announced a suspension of its commitments under the interim agreement, Trump stated that he "doesnt care at all."Iranian Foreign Minister Araqchi and Iraqi Foreign Minister Fuad Hussein held a telephone conversation to discuss the situation in the Middle East and bilateral cooperation.U.S. Commerce Secretary Rutnick: The United States has reached a very good agreement on the Gordi Howe International Bridge (the U.S.-Canada transnational bridge). The United States will receive 50% of the net revenue up to 2041 and will have a say in setting tolls.According to the New York Times, U.S. officials said that Iranian attacks on U.S. military bases in Jordan damaged several U.S. helicopters and injured dozens of U.S. personnel.July 19th - According to the Wall Street Journal, the U.S. labor market remains robust according to most key indicators. However, nearly two million Americans have been unable to find work for at least six months. Data from the U.S. Department of Labor shows that in June, the number of long-term unemployed (unemployed for 27 consecutive weeks or more) accounted for 27.3% of the total unemployed, up 4 percentage points from a year ago. This proportion is close to its highest level since the end of 2021. Because the overall unemployment rate remains low, the size of the long-term unemployed population is not yet sufficient to cause a substantial shock to the economy. However, analysts say its ripple effects are accumulating. Preston Mooy, senior economist at Employ America, said, "We havent seen large-scale layoffs in the past few years, so the number of short-term unemployed has remained relatively stable. But at the same time, hiring activity has seen a fairly significant decline." Even if some long-term unemployed people find new jobs, the weak hiring environment means more people are constantly joining the long-term unemployed group, keeping this number consistently high.

In Colombia, natural gas consumption has outpaced production

Charlie Brooks

Jun 28, 2022 11:31


According to our most recent Colombia Country Analysis Brief, Colombia imported 14,2 billion cubic feet (Bcf) of natural gas to help meet its natural gas demand for electricity in 2020, when a drop in hydroelectric power was caused by drought.


In 2020, hydroelectricity will contribute to around 65% of Colombia's electrical generation, down from nearly 80% in earlier years. Since hydropower is Colombia's principal energy source, droughts may have a significant effect on the country's electrical producing mix.


The bulk of natural gas used in Colombia is produced domestically and employed to create electricity. In recent years, imports have progressively bridged the gap between domestic natural gas production and domestic demand. In 2020, Colombia produced 399 Bcf of dry natural gas, while domestic consumption was 413 Bcf.


Concerns over the reliability of the nation's electricity supply prompted the Colombian government to approve the Sociedad Portuaria El Cayao (SPEC) LNG import plant in November 2014. The facility started operations in November 2016. The administration has since proposed the Pacific Regasification LNG terminal as the nation's second LNG import plant.


EPM is currently developing the new hydroelectric dam project Ituango. The first of eight 300-megawatt generating units will commence operating in the second part of 2022. The whole project will have a capacity of 2.4 gigawatts when it is finished in 2025. If completed, the Ituango project would be the largest hydroelectric power plant in Colombia in terms of generating capacity. In 2020, the installed electrical production capacity of Colombia was 17 gigawatts.

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