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US President Trump: The nominee for Federal Reserve Chair will be decided in the coming weeks.The EIAs Short-Term Energy Outlook report projects natural gas prices at $3.59 per barrel in 2026, down from a previous forecast of $4.17 per barrel.On January 14th, the U.S. Energy Information Administration (EIA) released its Short-Term Energy Outlook report, which stated that it predicts electricity consumption will increase by 1% in 2026 and 3% in 2027. This would be the first consecutive four-year period of growth since 2005-07, and the strongest four-year period since the turn of the century. In its forecast, the increase in electricity consumption is primarily driven by growing electricity demand from the commercial and industrial sectors. Solar power will contribute the largest increase in generation during the forecast period. It expects an additional 69 gigawatts of solar capacity to be installed during the forecast period, driving a 21% increase in solar power generation in both 2026 and 2027. It expects natural gas power generation to remain flat in 2026 and increase by 1% in 2027. Coal-fired power generation is expected to decline by 9% in 2026, followed by a decline of less than 1% in 2027.The EIAs Short-Term Energy Outlook report projects global oil production at 107.7 million barrels per day in 2026, up from the previous forecast of 107.4 million barrels per day; and projects production at 108.2 million barrels per day in 2027.The EIAs Short-Term Energy Outlook report projects U.S. oil demand at 20.6 million barrels per day in 2026, unchanged from the previous forecast; and projects demand at 20.7 million barrels per day in 2027.

New FTX chief says bankrupt crypto exchange could restart

Skylar Shaw

Jan 20, 2023 11:43

According to Chief Executive Officer John Ray, the bankrupt cryptocurrency exchange FTX is considering ways to resurrect its operations. He made the announcement to the Wall Street Journal on Thursday.


According to Ray, who took over the company's leadership in November, a task group has been established to look at reviving FTX.com, the organization's primary international exchange.


The CEO also said in an interview with the Journal that he would research if resurrecting FTX's international exchange would generate more value for the company's clients than his team could get by simply selling the platform or liquidating its assets.


Following the news, FTT, the native token of FTX, increased by around 30%.


I'm relieved Mr. Ray is now only pledging to restart the exchange after months of blocking such attempts! Sam Bankman-Fried, the founder and former CEO of FTX, said in a tweet.


Bankman-Fried said, "I'm still waiting for him to eventually acknowledge FTX US is solvent and return clients' money.


An inquiry for comment from Reuters was not immediately answered by an attorney representing FTX.


Bankman-Fried is accused of robbing the exchange's users of billions of dollars to settle debts accrued by his cryptocurrency-focused hedge fund, Alameda Research. He's denied the allegations of fraud.


Customer money' future, however, is still unknown. In a note to creditors earlier this week, FTX said that since declaring bankruptcy in November, hackers had stolen nearly $415 million in cryptocurrency from its worldwide and American exchanges.


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