Copper Price news, page-407

Liz Young was suggesting recession may not happen this year. Is she right?

Chinese have thrown stimulus at Chinese car manufacturers and have already stated they are providing funding to the green energy sector.

Germany, Belgium, the Netherlands and Denmark on Wednesday pledged to build at least 150 gigawatts (GW) of offshore wind capacity in the North Sea by 2050 to create a “green power plant”for Europe.

But the task will be challenging as the European wind supply chain is struggling to make money and the pace of build-outs is being slowed by long permitting times.

Some 150 GW would be enough to power 230 million European homes but the ambition is also to use the green power to make hydrogen and green fuels for heavy industries and transportation which cannot easily be directly electrified, Danish business minister Simon Kollerup said.

The declaration will be officially signed later on Wednesday at an offshore wind summit in Denmark, where the European Commission’s President Ursula von der Leyen and German Chancellor Olaf Scholz are among the participants.

The European Commission also unveiled a 210 billion euro plan for Europe to end its reliance on Russian fossil fuels by 2027, and to use the pivot away from Moscow to quicken its transition to green energy.

The Commission targets 300 GW of wind at sea by 2050 up from the roughly 16 GW currently installed.

https://gcaptain.com/north-sea-countries-plan-tenfold-increase-in-offshore-wind-energy-capacity/

https://www.mining.com/web/commodities-in-perfect-storm-says-erg-as-crisis-starts-super-cycle/

Sobotka said that a commodity super cycle has now begun and will carry on for the next 30 years, predicting a 20% rise in copper prices by the end of 2022.

Are these people correct? Let's see.