By Aaron Foyer History of Sovereign Wealth Funds Sovereign wealth funds (SWFs) have a long history, but their modern incarnation emerged in the mid-20th century. The first sovereign wealth fund can be traced back to the Kuwait Investment Authority (KIA), established in 1953. The KIA was created to manage Kuwait’s surplus oil revenues and invest …
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June 30, 2023 U.S. natural gas futures climbed about 2% on Friday as the daily amount of gas flowing to liquefied natural gas (LNG) export plants increases, rising prices in Europe, and on forecasts for hotter-than-normal U.S. weather to continue through mid-July, especially in Texas. In Texas, power use remained high after setting a record …
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California regulators approved $8.9 billion of energy-conservation programs as part of the state’s effort to reduce greenhouse gas emissions and combat global climate change. The California Public Utilities Commission on Thursday authorized $4.3 billion of utility energy-efficiency initiatives for 2024 to 2027, and forecast an additional $4.6 billion for 2028 to 2031, according to a …
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(Reuters) – Oil prices declined towards $74 a barrel on Friday and were on course for a fourth consecutive quarter of losses amid concerns over sluggish global economic activity and fuel demand. Benchmark Brent crude futures for September delivery were down 5 cents, or 0.1%, at $74.46 a barrel by 1120 GMT after earlier rising …
