Disaster

Authored by Tsvetana Paraskova via OilPrice.com,

Every now and then, an oil supermajor comes up with what they tout as a breakthrough in scientific research of renewable energy sources.

This month, it was ExxonMobil’s turn to report a breakthrough in advanced biofuels. Exxon said that it had found a way to make algae ‘fatter’, and those algae could become part of the (distant) future energy mix, could cut carbon dioxide emissions, and would not compete with food crops like other biofuel sources.

Two weeks ago, when discussing the self-reinforcing dynamics among systemic vol-sellers, JPM's head quant had a dramatic warning: in a nutshell, he said contrary to the assumption that the market will always rebound in a BTD kneejerk response, days like May 17th and similar events "bring substantial risk for short volatility strategies."

More than 800 earthquakes have now been recorded at the Yellowstone Caldera, a long-dormant supervolcano located in Yellowstone National Park, over the last two weeks - an ominous sign that a potentially catastrophic eruption could be brewing. However, despite earthquakes occurring at a frequency unseen during any period in the past five years, the US Geological Survey says the risk level remains in the “green,” unchanged from its normal levels, according to Newsweek.

Tesla stock price is extending its declines from yesterday's tumble after reports that Tesla’s first generation self-driving cars may not be safe on public roads, the German central vehicle inspection agency said, according to a report in Handelsblatt.

The latest update on the mysterious circumstances surrounding a collision between a Philippines’ flagged container ship and a Navy destroyer that left seven sailors dead has arrived, courtesy of Reuters.

The news agency is reporting exclusively that the USS Fitzgerald ignore the much-larger cargo ship’s repeated warnings to get out of its path of travel.