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Fears for US Southeast forests arose after Trump's logging order
Trump orders national logging increases Residents worry about flooding and recreation access Climate change and wildfires: Critics warn By Carey L Biron This makes them feel especially protective, since Donald Trump ordered last month a major boost in U.S. Timber Production. He wanted to remove regulations and accelerate approval. Nergart, along with hundreds of others, gathered within hours of receiving the orders at the entrance of the Pisgah National Forest. He added that he was concerned about what might happen to the local economies due to concerns over the impact on recreation, conservation and flooding. Nergart stated that the economy as a whole has been built around this. Trump's orders declare that reliance on imported timber is a threat to the national security, and mandate an increased U.S. log production. They claim past federal policies have hindered job creation, increased wildfire risks, and raised construction costs. The U.S. Department of Agriculture declared "emergency" conditions in 112 million acres of National Forests and instructed the U.S. Forest Service that they should increase timber production by 25 percent. In an email, a spokesperson for the agency said that The Forest Service would "streamline forest-management efforts, reduce burdensome regulation, and grow partnerships in support of economic growth and sustainable development." The administration has focused on tariffs and indicated that it will seek to increase levies on Canadian lumber to over 34%. Residents in Western North Carolina are concerned that this new development will upset the existing system and favor speed. Josh Kelly, Regional Forests Program Director with MountainTrue in Asheville North Carolina, said: "Imagine a world without regulations or with fewer of them. I can only see a degraded quality of water, a degraded wildlife habitat, and damage to the recreational infrastructure." MountainTrue, which was founded in the 1980s in response to local opposition against expanded logging of public lands on private lands and Kelly predicts a similar shift in public opinion. He said that some rural counties might want to increase production. "But if they do this quickly, there will be a backlash," the expert added. In this region, public land is the most popular thing. MAJOR PRODUCER David Wear, senior fellow of Resources for the Future think tank, says that the majority of federally-owned land in the United States lies in the West, where the government controls two-thirds or more of the forest lands of some states. The U.S. Timber production peaked in the 1960s and continued to rise until the early 1990s. After that, it began to decline due to environmental regulations. This change led to a large amount of logging moving to private land in the Southeast. Wear noted that despite the decline in logging, the U.S. is still the largest producer and consumer of wood in the world. He added that many sawmills, as well as other infrastructure, required to support the increased production, have been closed. Rebuilding would take several years. The executive orders have been welcomed by industry groups. The American Forest Resource Council said it was an important step towards economic revitalization in the face of "a federal forest fire and health crisis" as well as job losses. Danna Smith is the executive director of Dogwood Alliance a nonprofit organization that works on forest issues. She said the economic impact between logging and conserving forests was questionable. According to the White House report, wood provides 750,000 U.S. jobs, as opposed to 5 million in outdoor recreational activities. Smith added that forests have a much broader purpose. She said that "any time you increase logging you will increase carbon emissions, and further degrade eco services such as climate resilience, water control or flood control. She said that logging in North Carolina is the third leading cause of greenhouse gases emissions. In Oregon it is the leading cause. FIRE AND FLOODS Executive orders and implementation place a strong emphasis on the reduction of wildfires, and protecting communities at risk. Chad Hanson is a wildfire scientist and director of nonprofit John Muir Project. He said that this view goes against years of scientific findings. He said: "Claiming to remove millions of trees will somehow curb wildfires, and communities won't need to worry is an unconscionably unsafe approach... based upon the evidence that we have." He said that thinning forests can actually dry them out and make it easier for the wind to spread fires. Many communities are also concerned about the effects of logging on flooding. Leo Woodberry is a South Carolina pastor and the head of New Alpha Community Development Corp. a nonprofit organization that promotes environmental health. He said that the risk is especially high for Black and poor communities, which are often in low-lying regions.
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Chinese gold ETFs April inflows surpass first quarter total, WGC says
World Gold Council data shows that investment flows into Chinese gold ETFs have outpaced those of the entire first quarter, and even surpassed the inflows recorded by U.S. listed funds. John Reade senior market strategist of the WGC said in social media Monday that gold ETFs in China increased 29.1 tons in the first 11 days of April. This compares to the 23.5 tons of inflows registered from January-March. He said that the second quarter could have a different theme. "The first quarter was dominated by U.S. Tariff-related gold flows, and Western ETF purchases," he explained. According to data, while U.S.-listed funds led the activity in the first three months, they are lagging behind China with inflows so far in April of 27,8 tons. Gold, which is seen by many as a hedge to geopolitical risks and economic uncertainties, has risen 22% this year. It reached a record-high of $3,245.42 an ounce on Sunday, fueled by the uncertainty caused by President Donald Trump's tariff policy. Last week, yuan-to-dollar tariffs between China and the U.S. pushed the currency to its lowest level since 2007. Since Trump's announcement of reciprocal tariffs on April 2, the Chinese currency has fallen by about 0.6%. The largest quarterly inflows in three years were recorded in the Global Gold ETFs that store bullion on behalf of investors from January to March. Last week, the gold premium in China was 1% higher than London's benchmark, compared with 0.2% one week before. Dealers charged premiums between $24 and $50 per ounce. Unnamed gold traders said that global bullion bankers were "unusually" active in China, last week. They imported significant amounts of gold because of the high premium. Reporting by Polina Devtt and Rajendra Jhadhav; Editing and production by Pratima Dasai and Barbara Lewis
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Goldman Sachs lowers its aluminium price forecast due to weaker growth prospects
Goldman Sachs reduced Monday its forecast for aluminum prices in this year. Its economists had downgraded their global growth forecasts, including those for the U.S.A. and China after the Trump administration increased tariffs. The bank stated in a report that it now expects the price of aluminium to drop to an average monthly low of $2,000 per metric ton in Q3 2025. Goldman predicts that prices will rebound to $2300 per metric tonne (/t) in December 2025. This is a significant increase from its previous forecast of $2650/t. London Metals Exchange aluminium traded at $2,392/t on Monday 1300 GMT. Since his return to the White House, U.S. president Donald Trump has either imposed or floated a number of global tariffs, including 25% tariffs for steel, aluminum and auto parts, along with major tariffs against Mexico, Canada, and China. Aluminium is a lightweight, corrosion-resistant metal that plays an important role in many industries, including electronics, transportation, and packaging. Trump announced on Sunday that the tariff rate for imported semiconductors would be announced this week. Goldman forecasted a surplus on the global aluminium markets of 580,000 tonnes in 2025 compared to its previous forecasts of a deficit of 76,000 tons. This was due to a revision downward of its forecast for global total aluminum demand growth to 1,1% year-onyear in 2025, and 2,3% in 2026. The bank is expecting a hit because the global GDP will be weaker. It had previously forecast demand growth of 2,6% this year and 2,4% in 2026. Goldman still expects aluminum prices to rise after 2025 but not by as much as they estimated previously, because the additional supply that will be built up in 2025-2026 is expected to help moderate the increase. Goldman estimates that the aluminium market will enter a deficit of 722,000 tons in 2027. (Reporting from Anjana Anil in Bengaluru and Brijesh Patel in New York; editing by Kirby Donovan, Andrea Ricci and Kirby Donovan)
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Gold drops more than 1% when risk sentiment improves
Gold prices fell more than 1% Monday after a record high earlier in the day. Risk appetite increased as the White House announced that smartphones and computers would be exempt from China's reciprocal tariffs. As of 9:24 am, spot gold was down by 1.2%, at $3,199.09 per ounce. After reaching a record high of $3245.42, ET (1324 GMT) was the next time. U.S. futures for gold fell by 0.9% to $3215.70. Bart Melek is the head of commodity strategy at TD Securities. The risk sentiment on the financial markets increased after Washington announced that President Donald Trump would not be imposing reciprocal tariffs on certain electronic devices like smartphones and computer. Peter Grant, senior metals analyst at Zaner Metals and vice president, said: "Perhaps there will be some relief in the tariff front with the exemptions of some electronic devices, perhaps taking some of that safe haven bid." Gold tends to benefit from ongoing uncertainty over trade and tariffs. The dollar is weaker and yields are softer. Trump announced on Sunday that he will announce the tariff rate for imported semiconductors in the coming week. This keeps market participants on edge. The dollar, which was lagging behind its rivals at a low of three years, supported gold. The trade war between China and the United States has roiled global markets, and investors have been driven into metals. Metals are traditionally seen as a hedge to geopolitical and economical uncertainty. Goldman Sachs remained most bullish among major banks on gold, raising its year-end forecast to $3,700, citing stronger-than-expected central bank demand and heightened recession risks impacting ETF inflows. Platinum gained 0.5%, bringing it to $947.05. Palladium rose by 3.4% to $946.36.
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Gold Fields suspends operations at Ghana's Damang Mine after the government rejects a lease renewal
Gold Fields, a South African company, announced on Monday that it will cease operations at its Damang Mine in Ghana following the rejection of a lease extension application by the Ghanaian government. The Johannesburg-based mining company has considered selling smaller operations, including the Cerro Corona mine in Peru and Damang in Chile. Both mines have less than five years remaining on their lifespan. Instead, they are focusing on the newly-commissioned Salares Norte project in Canada and the recently-commissioned Salares Norte in Chile. Gold Fields only processed stockpiles in Damang after ceasing its mining operations in 2023, although the company committed to exiting the operation in a timely manner as part of the end-of life plan. In a press release, the company stated that it had failed to apply to extend the Damang Lease which expires on April 18. Gold Fields announced that the government had instructed them to stop operations and leave the lease area on the 18th of April, the expiration date for the lease. It added that the company was "preparing to safely and responsible cease operations, and ensure safety and security for our people and high risk operations." The smaller of Gold Fields’ two mines, Damang, is located in Ghana. Tarkwa is the largest open-pit gold mine in Ghana. Damang produced 135,000 gold ounces in 2024. This is about 6% the total production of 2.15million ounces for Gold Fields. (Reporting and editing by Susan Fenton; Nelson Banya)
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Nguema, the leader of Junta, vows to rebuild Gabon following a landslide victory in the vote
Commanding Win The weekend victory of Brice Oligui Nguema, the leader of the junta, in the Gabon presidential election gives him a mandate of seven years to end the father-and son rule of the Bongo clan for more than 50 years. The 50-year old - who ousted president Ali Bongo through a coup in 2023, and then ran for office -- will have to now deliver on promises to diversify a heavily oil-reliant economic system and to end corruption. He must also show that he can leave behind the administrations that he previously supported - despite his claims of a new start, he's still a distant relative of Ali Bongo. "My dear fellow citizens, I have told you throughout the campaign and I will repeat it - there can be no happiness without work," Nguema said to his supporters after Sunday's provisional election results showed that he had received 90.35 percent of the votes cast. He said, "Monday (tomorrow) is a working day... Our country is in construction." Nguema, riding a wave public support for his coup and vows to combat corruption, was widely expected by many to win the election in central African nation. Nguema, a week after assuming power in 2023 and ordering the heads of government agencies to return any money stolen within 48 hours, publicly humiliated them. In a crackdown, several corporate executives were detained and government officials testified before a commission looking into corruption. Joseph Tonda is a sociologist from Omar Bongo University, Libreville. The Saturday election was free of the unrest which marred elections in 2016 and in 2023, both of which Ali Bongo's opponents claimed were rigged to his advantage. Nguema took power following the announcement of the results of 2023's elections. In the earlier contests, "we could not even go outside." Worah Jean-Yves, a university student, said that there were gunshots and the internet was cut. Shops were also looted. This time, however, everything went smoothly and without any issues. HOPES AND FEAR According to preliminary results, Nguema’s most prominent rival, former prime minister Alain Claude Bilie By Nze received just over 3%. At a Monday press conference, he acknowledged his loss but said that the results were so lopsided it raised questions about the fairness of the elections. Analysts are unsure if Nguema’s tenure will be a break from the past. Nguema served as aide-de camp to Omar Bongo. Ali Bongo’s father, Omar Bongo ruled the country for over four decades before his death in 2009. Nguema also served as the commander of Gabon’s Republican Guard, under Ali Bongo. He is still an army general, but has promised not to take on any military roles. Rogers Orock is a Gabon specialist at Lafayette College, in the United States. He added that there is reason to be concerned that "this new regime is the same old wine, authoritarian despotism which Gabonese had to endure in the past - but in a different bottle". Nguema's finances have been questioned. The Organized Crime and Corruption Reporting Project (OCCRP), a global network investigative journalists, conducted a 2020 investigation and found that Nguema had purchased three properties in Maryland, U.S.A., for more than $1,000,000 in cash. He has declined to comment further on the matter, saying that his privacy should be respected. Nguema promised to maintain Gabon's historically strong ties with former colonial power France. This is a very different approach to other juntas who have recently taken control in the region and ended longstanding defense cooperation with Paris. Nguema, who announced his candidacy for president last month said that he had a dream of "a Gabon rising from the ashes". He added: "I'm a builder, and I need to have your courage, force, in order to build this country." (Robbie Corey Boulet, Aaron Ross and Mark Heinrich edited the story.)
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OPEC reduces global oil demand forecasts citing US tariffs
OPEC reduced its forecast for global oil demand growth in 2025 on Monday, for the very first time since the end of December. They cited the impact of the data from the first quarter as well as the trade tariffs announced the United States. In a report published monthly, the Organization of Petroleum Exporting Countries (OPEC) predicted that the world's oil demand will rise by 1,30 million barrels a day in 2025, and by 1,28 million bpd by 2026. Both forecasts are 150,000 barrels per day lower than last month. The U.S. President Donald Trump’s trade tariffs, as well as a planned increase in production by OPEC+ (which includes OPEC, as well as allies like Russia), have put downward pressure on the oil price this month, and raised concerns about economic growth. In its report, OPEC lowered the world's economic growth forecast for this year from 3.1% to 3.0% and for next year from 3.2% to 3.1%. Last month, OPEC stated that trade concerns will contribute to volatility, but they kept their forecasts stable, saying the world economy would adjust. OPEC's Monday report stated that "the global economy has shown a steady growth at the start of the year. However, recent trade dynamics have increased the uncertainty in the short-term outlook for global economic growth." Brent crude traded near $66 per barrel after U.S. exemptions from some tariffs. Prices are still down over 10% this month. OPEC still sees oil demand as higher than industry estimates and expects it to continue to rise for many years. This is in contrast to the International Energy Agency which believes that oil demand will peak this decade due to the switch to cleaner fuels. The IEA will update its oil consumption forecasts on February 2. KAZAKHSTAN RAISES ITS OUTPUT OPEC’s report showed that the crude production of OPEC+ as a whole fell by 37,000 bpd in March to 41,02 million bpd. This was due to Nigeria and Iraq reducing their output. The group will increase output in April, and then again in May. This is part of its plan to undo the most recent cuts in oil production that were implemented to support markets. The report showed that Kazakhstan, who has consistently exceeded its OPEC+ production target, increased their production by 37,000 bpd in March, again violating the restrictions. Last month, the Central Asian nation's production grew to 1.852 millions bpd. This is above its OPEC+ quota for January-March of 1.468million bpd. Interfax reported that the energy ministry stated last Thursday that Kazakhstan had exceeded its OPEC+ quota for March, but it would fulfill its commitments by April and partially compensate earlier overproduction. A source in the industry told me on Monday that Kazakhstan’s oil production fell during the first two week of April compared to the average for March, but it was still higher than the OPEC+ quota. (Editing by David Holmes & Mark Potter)
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The suspect in the arson attack at Pennsylvania Governor's residence has been charged with attempted murder
After his arrest, the suspect in the arson attack at Pennsylvania Governor Josh Shapiro’s residence was charged with attempted murder, terrorism and aggravated arson, among other felonies. Cody Balmer (38), the suspect, was arrested on Sunday. This happened after Shapiro, his family, and the police had rushed them out of the official residence of the Governor and the local firefighters had extinguished a fire that broke out in the middle night. Authorities said in a probable-cause affidavit that Balmer had filled beer bottles at his Harrisburg home with gasoline and then walked for about an hour to the governor's house. He then scaled the fence, broke both windows, and threw two Molotov Cocktails inside before fleeing. The fire started in two rooms, which were not near the sleeping area of Shapiro or his family. Balmer surrendered himself to the police a few hours later. In the affidavit, he told police that he had "harbored hatred" towards the governor. He also said he would beat him with a hammer should he ever meet the governor. Balmer faces charges of attempted murder, terrorism and arson. Also, he faces charges of loitering and assault. Shapiro, a Democrat who is seen as a possible candidate for the presidential nomination of his party in 2028, told a press conference at which he was present that FBI Director Kash patel had called him a few minutes earlier and assured him "all resources of the federal governments" would be used to investigate the attack. In a Facebook post, U.S. attorney general Pam Bondi expressed her "deep relief" that the governor and his wife were safe. She also praised the arrest of Balmer. The house was burned down hours after Shapiro had posted a photo of his family’s “seder” table, as they celebrated Passover's first night. Passover is a Jewish holiday that celebrates the transition from slavery to freedom. "I refuse to accept the bonds that are being imposed on me, by someone attacking us like they did last night," he declared on Sunday. He vowed to continue working for Pennsylvania in peace. Shapiro said that his family was still planning to hold a seder on Sunday evening. Shapiro, when asked if the attack was a hate crime, said that he would defer the decision to federal authorities and Pennsylvania’s district attorney. The Pennsylvania State Police Commissioner, Lieutenant Christopher Paris said that authorities will perform a "multifaceted" review of security measures as well as the timeline of events. (Reporting and editing by Frank McGurty, Chizu Nomiyama and Brendan O'Brien from Chicago)
Source: Abu Dhabi's ADNOC is considering a bid for Aethon US natgas assets.
A person familiar with this matter said that Abu Dhabi's state-owned oil company ADNOC was in the initial stages of evaluating a bid to purchase the U.S. Natural Gas assets owned by investment firm Aethon.
ADNOC made a series of acquisitions, including in the fields of gas and chemicals. Along with LNG and renewables, it sees these as the pillars that will support its future growth.
The energy giant purchased a stake and a supply contract for 20 years in NextDecade’s liquefied gas export project located in Texas.
Source: Other parties are also involved in the discussions regarding the assets of the U.S.-based energy investment firm,
In November, it was reported that Aethon had been exploring options to sell or offer its midstream and natural gas assets at a value of $10 billion.
Aethon's upstream assets, which are primarily focused on the Haynesville Shale Formation in Louisiana and East Texas constitute one of the biggest privately owned U.S. Gas producers.
ADNOC and Aethon didn't immediately respond to comments.
Bloomberg News reported first on Friday that ADNOC is considering a bid to buy Aethon’s natural gas assets. Reporting by Mrinalika in Bengaluru, Anousha in London and Vallari Srivastava. Additional reporting by Vallari. Editing by Shailesh and Shinjini.
(source: Reuters)