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<ul class="summary-list"><li><keyword id="15710" type="ENTERTAINMENT" weightage="60" keywordseo="texas">Texas</keyword>' electric-grid managers are telling residents to conserve <keyword id="6357014" type="ORGANIZATION" weightage="60" keywordseo="energy">energy</keyword> to prevent blackouts.</li><li><keyword id="5891952" type="LOCATION" weightage="60" keywordseo="ercot">ERCOT</keyword> said several generators were in need of repair.</li><li>Power demand on Monday is expected to surpass the peak energy demand from Texas' February freeze.</li></ul>Texas' electric-grid managers told residents to reduce electricity usage "as much as possible" through June 18 as several of the state's generators faced outages.Generators creating roughly 15% of Texas' power are in need of repair, according to a press release from the Electric Reliability Council of Texas (ERCOT). More than 70% of generators facing outages are thermal-based, meaning they are reliant on coal, gas, or nuclear energy to generate power.ERCOT said Monday's peak-load forecast on the electrical grid may exceed 73,000 megawatts, which would surpass the peak demand set in the <a href="https://www.businessinsider.com/winter-snow-storm-blackout-texas-damages-could-near-50-billion-2021-2">February freeze</a> of 69,692 MW. <a href="http://www.ercot.com/news/releases/show/230649">According to ERCOT</a>, the highest peak-demand record for the grid is 74,820 MW, which occurred in August 2019. For reference, 1 MW can power about 200 homes during the summer.The state's grid is also facing strains because wind-generated power is "roughly 1,500 MW lower than what is typically available for peak conditions," ERCOT said, though it added that experts expected wind output to increase throughout the week."We will be conducting a thorough analysis with generation owners to determine why so many units are out of service," Woody Rickerson, ERCOT's vice president of grid planning and operations, said. "This is unusual for this early in the summer season." The highs in Texas are expected to hit at least <a href="https://www.weather.gov/sjt/TexasHourlyObservations">100 degrees Fahrenheit</a> during ERCOT's proposed period of energy conservation.ERCOT faced a bevy of criticism for a massive blackout that hit much of the state in February, which led to an estimated <a href="https://www.buzzfeednews.com/article/peteraldhous/texas-winter-storm-power-outage-death-toll">700 deaths</a>, according to a BuzzFeed analysis, and the "biggest epidemic of CO poisoning in recent history" as families tried to stay warm amid freezing temperatures, according to a <a href="https://www.texastribune.org/2021/04/29/texas-carbon-monoxide-poisoning/">ProPublica</a> report. After signing two bills in June, Gov. Greg Abbott said that "everything that needed to be done was done to fix the power grid in Texas." Texas state Sen. <a href="https://www.kxan.com/state-of-texas/state-of-texas-power-grid-reform-and-border-barrier-plans/">Kelly Hancock</a> said in June that the Legislature's mission was to prevent February's blackout from reoccurring."Our ultimate goal was to make sure that those individuals, those consumers, our constituents back home, never ever had to deal with this issue ever again," Hancock said.Despite the intentions of the Texas Legislature, <a href="http://www.ercot.com/">ERCOT's website</a> shows that energy prices are skyrocketing as the state electric grid becomes more and more reliant on its reserves.ERCOT provided a few tips for Texans to reduce their electric use:<ul><li>Set thermostat to 78 degrees or higher as "every degree of cooling increases your energy use by six to eight percent."</li><li>Turn off all unused lights and pool pumps.</li><li>Refrain from using large, high-energy-use appliances like washing machines, ovens, and dryers.</li><li>Turn off and unplug anything unnecessary.</li></ul>This story is developing. Check back for updates.

Power demand is expected to surpass the peak energy demand from Texas' February freeze

<ul class="summary-list"><li>The oil market could see a supply crunch, Goldman Sachs said.</li><li>Oil demand will rise for another 10 years, though producers are pulling back on new investment.</li></ul>The global oil market could run into a supply shortage as peak demand is still a decade away, according to Goldman Sachs analysts.The investment bank estimated the world's oil demand would continue to rise for at least the next 10 years, with <a target="_blank" href="https://www.goldmansachs.com/intelligence/pages/peak-oil-demand-is-still-a-decade-away.html">crude demand peaking at around 110 million barrels</a> a day in 2034. That's due to rising oil demand in Asia and increasing demand for petroleum products, the analysts said.Rising demand could spark a supply shortage, especially if companies continue to dial back on capital expenditures, the bank added. Spending by six major oil producers, including ExxonMobil and Chevron, could fall as much as $3.8 billion this year, according to a survey conducted by <a target="_blank" href="https://www.ogj.com/general-interest/economics-markets/article/55016973/us-ep-companies-capital-spending-to-decrease-in-2024">Oil &amp; Gas Journal</a>."We think peak demand is another decade away, and more importantly, after the decade it takes to peak, it plateaus, rather than sharply declines, for another few years," Nikhil Bhandari, a managing director at Goldman, and Amber Cai, an analyst at the bank, said in a recent report. "While peak oil demand is still a decade away, capital is slowing for the production of crude oil and oil products, contributing to constrained supply in the medium term," they later added.Oil prices slumped at the end of 2023, in part due to <a target="_blank" href="https://markets.businessinsider.com/news/commodities/us-oil-crude-production-record-opec-cuts-russia-saudi-arabia-2024-3">booming crude production in the US</a> and <a target="_blank" href="https://markets.businessinsider.com/news/commodities/oil-market-outlook-opec-price-cuts-us-crude-production-guyana-2023-12">other countries</a>. But US production is set to see a <a target="_blank" href="https://markets.businessinsider.com/news/commodities/oil-supply-us-production-outlook-slashed-half-prices-could-climb-2024-3">slowdown</a>, with the US Energy Information Agency forecasting domestic <a target="_blank" href="https://www.eia.gov/outlooks/steo/pdf/steo_full.pdf">crude production</a> to grow by just 2% from levels in 2023. Other oil producers are continuing to pull back on production, too. OPEC+, the oil cartel led by Saudi Arabia, has decided to <a target="_blank" href="https://www.opec.org/opec_web/en/press_room/7337.htm">extend its 2.2 million barrel-a-day supply cut</a> into 2025, according to a release from its last meeting.Oil prices have climbed higher over the past month as markets weigh the supply and demand outlook. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a> has surged 8% from its low in early June, trading around $84.51 a barrel on Monday.

The oil market is at risk of a supply shortage as peak demand is still 10 years away, Goldman Sachs says 

New Delhi, Apr 3 () India's peak power demand slipped over 25 per cent to 125.81 GW on Thursday compared 168.32 GW on April 2 amid the lockdown to contain COVID-19 outbreak, showed power ministry data.In actual terms, the demand fell around 43 GW on Thursday compared to the same day a year ago. However, the data showed that peak power demand met has stabilised around 120 GW after March 22. The government has imposed 3-week lockdown to fight the pandemic from March 24.The demand was down mainly due to lower requirements from industry and state power distribution companies (discoms) across the country due to the lockdown.The peak power demand met is the actual highest energy supply during the day across the country.According to the data, the peak demand met was 163.72 GW on March 20, which came down to 161.74 GW on March 21.This dropped sharply to 135.20 GW on March 22 due a call for 'Janata Curfew' by Prime Minister Narendra Modi. The data also showed that the peak demand met improved slightly to 145.49 GW on March 23 but fell again to 135.93 GW on March 24 and subsequently to 127.96 GW on March 25.The demand fell sharply to 120.31 GW on March 26 and to 115.23 GW on March 27, indicating continuous slump in demand.However, there was little improvement on March 28 as the peak demand met rose slightly to 117.76 GW and to 120.18 GW the following day. The demand stood at 120.79GW on March 30; 123.08 GW on March 31; 123.30 GW on April 1 and 125.81 GW on April 2.The peak power demand met was 168.7 GW in March and 176.81 GW in April last year.India's peak power demand (met) was recorded at 170.17 GW on March 3, 2020. During the remaining ten days of the last month, the peak power demand was 145.49 GW on March 23.The spot power price touched a three-year low of 60 paise per unit for supplies on last Wednesday (March 25) on the Indian Energy Exchange due to low demand. The average spot power price is hovering around Rs 2.50 per unit at electricity exchanges. KKS SHWBAL

India's power demand falls over 25 pc to 125.81 GW on April 2

New Delhi, Mar 29 () Peak power demand in the country dipped over 28 per cent to 117.76 gigawatts (GW) on Saturday as compared to 163.72 GW on March 20, showing the impact of nationwide lockdown amid COVID-19 outbreak.National Load Dispatch Centre data showed that in actual terms, the peak power demand met has come down by about 46 GW since March 20, which would further aggravate the ailing electricity generators whose outstanding dues stand Rs 88,311 crore as of January this year.The peak demand met was down mainly due to lower demand from industry and state power distribution companies (discoms) across the country due to the lockdown to fight against COVID-19.According to the NLDC data, the peak demand met was 163.72 GW on March 20, which came down to 161.74 GW on March 21. This dropped sharply to 135.20 GW on March 22 due a call for 'Janata Curfew' by Prime Minister Narendra Modi.The data also showed that the peak demand met improved slightly to 145.49 GW on Monday but fell again to 135.93 GW on Tuesday and subsequently to 127.96 GW on Wednesday.The power demand met further fell sharply to 120.31 GW on Thursday and to 115.23 GW, indicating continuous slump in demand.However, there was little improvement on Saturday as the peak demand met rose slightly to 117.76 GW. The peak power demand met is the actual highest energy supply during the day across the country. In view of the COVID-19 outbreak, the government has imposed lockdown for three weeks from March 25."This slump in power demand is unlikely to improve drastically till middle of next month. Besides, the government has asked the power generators to keep on supplying power even if they dont pay for next three months. More, the penalty on late payment has been removed till June 30. In these circumstance, there would be pressure on power generating firms to ensure uninterrupted power supply 24X7," an industry source said.The spot power price touched a three-year low of 60 paise per unit for supplies on Wednesday on the Indian Energy Exchange due to low demand.The average spot power price is hovering around Rs 2 per unit at electricity exchanges.Peak power demand met was 168.7 GW in March 2019. KKS BAL

Peak power demand falls 28 pc to 117 GW in since March 20

New Delhi, Mar 27 () Peak power demand in the country dipped over 26 per cent to 120.31 gigawatts (GW) on Thursday as compared to 163.72 GW on March 20, showing impact of a nationwide lockdown amid the coronavirus outbreak, according to sources. In actual terms, the peak power demand met has come down by about 43 GW since last Friday. The peak demand met was down mainly due to lower demand from industry and state power distribution companies (discoms) across the country due to the lockdown. An industry source said, "The peak demand met was 163.72 GW on March 20, which came down to 161.74 GW on March 21. This dropped sharply to 135.20 GW on March 22 due a call for 'Janata Curfew' by Prime Minister (Narendra Modi)." The source further said the peak demand met improved slightly to 145.49 GW on Monday but fell again to 135.93 GW on Tuesday and subsequently to 127.96 GW on Wednesday, showing effect of the lockdown. The power demand met further fell sharply by over 7 GW to 120.31 GW on Thursday indicating continuous slump in demand. In view of the coronavirus outbreak, the government has imposed lockdown for three weeks from March 25. The spot power price touched a three-year low of 60 paise per unit for supplies on Wednesday on the Indian Energy Exchange due to low demand. The average spot power price is hovering around Rs 2 per unit at electricity exchanges. Peak power demand met was 168.7 GW in March 2019. KKS HRS

Peak power demand down 26 pc to 120 GW in a week

AP Photo/Justin PritchardGoldman said Tesla is likely to miss its production targets for the $35,000 Model 3.Demand for <a href="http://markets.businessinsider.com/stock/TSLA-Quote">Tesla's</a> Model S sedan and the Model X SUV appears to have peaked, Goldman Sachs analysts said as they downgraded their outlook for the company. Tesla on Monday said it <a href="http://www.businessinsider.com/tesla-car-deliveries-for-the-second-quarter-2017-7">delivered 22,000 vehicles</a> in the second quarter, fewer than analysts including Goldman's David Tamberrino had expected. Deliveries slowed from a record of 25,000 cars in the first quarter amid issues with the largest battery pack for Tesla's electric cars. "We believe the excess production above deliveries, the discontinued 'order rate' metrics, and the company's 2H17 guidance (Model S and Model X deliveries to likely exceed) in combination with the past four quarters of delivery results point to a plateauing of demand for its current products," Tamberrino and his colleagues wrote in a note on Wednesday. Goldman slightly reduced its forecast for vehicle deliveries this year, and forecast "moderate growth" from 2018 through 2021: a 5% compound annual growth rate versus 13% prior.They lowered their six-month target price on the stock to $180 from $190, implying a 49% decline from Monday's closing price of $352.62. Tesla shares were down by about 1.5% in premarket trading on Wednesday.Tesla is preparing for the first deliveries of its <a href="http://www.businessinsider.com/elon-musk-revealed-when-tesla-will-deliver-its-first-model-3-cars-2017-7">Model 3</a> vehicles on July 28. Tamberrino forecast that the company would miss its production targets for the $35,000 sedan in the second half of the year. Although the Model 3 is going out two months earlier than Goldman had forecast, Tamberrino remained cautious since Tesla has historically missed delivery and production targets. "We still harbor supply chain concerns and believe a more prudent curve is warranted given historical operational execution," he said.Get the latest Goldman Sachs stock price<a href="http://markets.businessinsider.com/stock/GS-Quote"> here.</a> <h3>NOW WATCH: <a href="http://www.businessinsider.com/economist-explains-trump-pulls-us-out-nafta-2017-6">An economist explains what could happen if Trump pulls the US out of NAFTA</a></h3> Please enable Javascript to watch this video

GOLDMAN: It looks like demand for Teslas has peaked

<ul class="summary-list"><li>Global fossil fuel demand is expected to peak this decade as the clean energy economy booms, the IEA said.</li><li>Past peak demand in the late 2020s, global use of oil could fall into an "undulating plateau" for a while.</li></ul>The golden age of fossil fuels is coming to its close, and that close is coming soon."In all scenarios, the momentum behind the clean energy economy is enough to produce a peak in demand for coal, oil and natural gas this decade, although the rates of post-peak decline vary widely," the International Energy Agency said in a report Tuesday.Oil demand could reach a maximum level of 102 million barrels of oil per day in the late 2020s before declining slightly to 97 million in 2050. Past that peak, demand for oil could fall into an "undulating plateau lasting for many years."Global natural gas demand, which had been increasing by roughly 2% every year since 2011, is expected to slow to a 0.4% annual pace from now until 2030. Global coal demand is also expected to weaken as its biggest consumers, iron and steel producers, wean off coal.The IEA report added that geopolitical turmoil, stubborn inflation, and elevated debt levels have heightened <a href="https://markets.businessinsider.com/news/commodities/israel-hamas-outlook-oil-prices-economy-stock-market-volatility-inflation-2023-10">volatility in commodities like oil</a>, and largely <a href="https://markets.businessinsider.com/news/commodities/oil-prices-outlook-war-inflation-fed-rates-israel-russia-opec-2023-10">disrupted</a> global energy markets. It comes a month after IEA Executive Director Fatih Birol previewed its findings in a column published in the <a href="https://www.ft.com/content/f6155d7b-2ef7-4f62-a08a-b640b7e87fca" target="_blank" rel="noopener nofollow">Financial Times</a>, saying that "the age of seemingly relentless growth" for fossil fuel demand is at the beginning of the end. "This is the first time that a peak in demand is visible for each fuel this decade — earlier than many people anticipated," he wrote.In contrast with its view on fossil fuels, the IEA report Tuesday noted that "clean energy is the most dynamic aspect of global energy investment."The Inflation Reduction Act passed last year has also funneled hundreds of billions of dollars into clean energy projects, ramping up the path towards decarbonization.But renewable energy stocks have been reeling amid cost inflation, supply-chain bottlenecks and higher borrowing costs, as Fed rate hikes particularly capital-intensive buffet industries.The S&amp;P Global Clean Energy Index is down 33.51% since January. Companies like SolarEdge and Enphase Energy are down 70% and 62% respectively, year-to-date.

Global fossil fuel demand is likely to peak this decade as the clean energy economy grows, IEA says

<ul class="summary-list"><li>Global oil supply will rise 8 million barrels per day above projected demand, the IEA said.</li><li>Meanwhile, global demand will plateau and peak before 2030.</li></ul>An overflow of global oil supply will hit the market this decade as world consumption peaks ahead of 2030, the International Energy Agency said in its latest <a target="_blank" href="https://www.iea.org/reports/oil-2024">report</a>.Supply is expected to blow past projected demand starting in 2025, rising to a "staggering" 8 million barrels per day above the projected demand of 105.4 million barrels per day, the group said. "World oil production capacity, led higher by the United States and other producers in the Americas, is forecast to outstrip demand growth over the 2023-2030 forecast and, barring the Covid pandemic period, inflate the world's spare capacity cushion to unprecedented levels," the report said.This massive oil production buffer will likely bring about lower oil prices worldwide, an unwelcome prospect for major producers in both the US and the OPEC+ group, the IEA said. While OPEC and its allies are already suspending curtailing output, the reaction of the <a target="_blank" href="https://markets.businessinsider.com/news/commodities/us-oil-crude-production-record-opec-cuts-russia-saudi-arabia-2024-3">US shale industry</a> may have wide-ranging consequences.For consumers, demand will plateau at 105.6 million barrels per day by 2029, around 4% higher than last year's levels.While emerging economies in Asia will help support consumption, the story is different for advanced regions; demand will continue a "decades-long decline," falling to its lowest level since 1991 by the decade's end.<div type="image" title="World oil demand forecast to plateau this decade" height="566" width="1034" msid="110945749" hostid="261" sizebytes="30310"></div>"As the pandemic rebound loses steam, clean energy transitions advance, and the structure of China's economy shifts, growth in global oil demand is slowing down and set to reach its peak by 2030," <a target="_blank" href="https://www.iea.org/news/slowing-demand-growth-and-surging-supply-put-global-oil-markets-on-course-for-major-surplus-this-decade">said</a> IEA Executive Director Fatih Birol. This year, we expect demand to rise by around 1 million barrels per day."The IEA has been broadcasting its <a target="_blank" href="https://markets.businessinsider.com/news/commodities/global-oil-demand-iea-energy-prices-barrels-gas-coal-climate-2023-9?utm_medium=ingest&amp;utm_source=markets">projections of a coming end</a> to the fossil fuel era since last year, when it first said a peak in demand was near.That's not a view shared by those in the industry, and many commodity experts have since disagreed with the agency's outlook. Some of the biggest pushback came from OPEC itself, with chief Haitham Al Ghais noting that peak demand warnings have been <a target="_blank" href="https://markets.businessinsider.com/news/commodities/peak-oil-theories-iea-opec-al-ghais-crude-demand-supply-2024-1">repeated since the 1880s</a> — and have yet to manifest.

Peak oil demand before 2030 will usher in a major supply glut, the International Energy Agency says

<ul class="summary-list"><li><keyword id="41896" type="COUNTRY" weightage="60" keywordseo="Iran">Iran</keyword> has banned <keyword id="6357017" type="DEFINITION" weightage="60" keywordseo="cryptocurrency">cryptocurrency</keyword> mining over the summer ahead of an anticipated surge in <keyword id="159873" type="PERSON" weightage="60" keywordseo="electricity-demand">electricity demand</keyword>, Bloomberg reported.</li><li>The ban is effective immediately until September 22.</li><li>Approximately 4.5% of all <keyword id="1660859" type="PERSON" weightage="60" keywordseo="bitcoin-Mining">bitcoin mining</keyword> occurs in Iran, according to Elliptic.</li></ul>Iran has banned cryptocurrency mining over the summer ahead of an anticipated surge in electricity demand, <a href="https://www.bloomberg.com/news/articles/2021-05-26/iran-bans-crypto-mining-to-keep-the-lights-on-over-summer">Bloomberg first reported</a>. The country the past few days has experienced widespread <keyword id="4330279" type="PERSON" weightage="60" keywordseo="blackouts">blackouts</keyword> due to higher than usual energy consumption, compounded by drought and high temperatures, according to <a href="https://www.arabnews.com/node/1863336/middle-east">Arab News</a>.While cryptocurrency mining was highlighted, other electricity-intensive activities were also prohibited, President Hassan Rouhani announced on state television Wednesday."The ban on the mining of cryptocurrencies is effective immediately until September 22," Rouhani said as <a href="https://www.reuters.com/technology/iran-bans-cryptocurrency-mining-4-months-amid-power-cuts-2021-05-26/">Reuters reported</a>. "Some 85% of the current mining in Iran is unlicensed." <a href="https://www.businessinsider.com.au/category/bitcoin-mining">Cryptocurrency mining</a> has <a href="https://markets.businessinsider.com/currencies/news/new-york-ny-bill-bitcoin-mining-environment-assessment-2021-5-1030386497">long been criticized</a> due to its heavy energy use and environmental impact. Various research, including a study from Cambridge University, <a href="https://cbeci.org/cbeci/comparisons" target="_blank" rel="noopener">has shown</a> that bitcoin mining around the world uses more energy each year than some entire nations.Mining cryptocurrencies, a complex process that includes validating data blocks to include in the public ledger, is power-intensive and often relies on fossil fuels. Approximately 4.5% of all bitcoin mining occurs in Iran, according to blockchain analytics firm <a href="https://www.elliptic.co/blog/how-iran-uses-bitcoin-mining-to-evade-sanctions">Elliptic</a>.<div type="image" title="Screen Shot 2021 05 26 at 9.01.11 AM" height="443" width="591" msid="82975545" hostid="261"></div>The fact that the country has <a href="https://www.businessinsider.com/currency-crisis-impoverishes-iranians-strains-economic-defenses-2020-7">restricted access to foreign currencies</a> also makes cryptocurrency mining more attractive.The ban however raises concerns about pushing the practice -including those licensed-into the black market. Iran in the past has launched a crackdown on illegal miners, accordin to <a href="https://www.bloomberg.com/news/articles/2021-05-21/iran-enlists-its-spies-to-hunt-down-power-hungry-bitcoin-miners">Bloomberg</a>.

Iran bans crypto mining for the summer ahead of peak electricity demand

The great <keyword id="6359072" type="CITY" weightage="60" keywordseo="oil">oil</keyword> and <keyword id="18712" type="ENTERTAINMENT" weightage="60" keywordseo="Gold">gold</keyword> booms are over.
That's according to Ruchir Sharma of Morgan Stanley, <a href="http://www.bloomberg.com/news/2013-05-05/the-oil-and-gold-booms-are-over.html">writing at Bloomberg View</a>.
Sharma, an emerging markets specialist, blames the slowdown in China.
The wreckage caused by <a href="http://topics.bloomberg.com/china/">China</a>’s great, juddering slowdown continues to spread far beyond the country’s shores. Although most commodities enjoyed a bounce on May 3, after better-than-expected U.S. employment data, the plunge in their <a href="http://www.bloomberg.com/news/commodities/" title="Open Web Site">prices</a> over the past few months suggests the past decade’s rally is truly broken.
After walking through what happened during the period of 2000-2011 (which saw a surge in prices and talk about "peak oil") Sharma says the opposite discussion is now occurring, that we have perhaps reached peak demand.
Now, as emerging nations begin to embrace <a href="http://topics.bloomberg.com/energy-efficiency/">energy efficiency</a> as well -- China is <a href="http://blogs.wsj.com/chinarealtime/2013/02/21/electric-vehicles-going-out-of-style-not-in-china/" title="Open Web Site">working hard</a> on electric cars, for instance, despite continuing to build dozens of coal plants -- global demand might flatten out this decade. The debate over “peak oil” scenarios may shift from the threat of dwindling supply to the threat of peaking demand.
Certainly, the world is no longer terrified of running out of important commodities. High prices have drawn investment to copper mines, aluminum smelters and other basic sources of supply. In the past decade, the amount of capital invested in the energy and materials sector, which includes most nonfarm commodities, has risen 600 percent, compared with an average increase of 200 percent in other sectors.
The idea that peak oil is now decisively a concept of the past has been getting a lot of play lately. Part of it is due to the fall in commodity demand growth. Part of it is due to the huge expansion of potential US supply, and what that means for global trade balances.
Meanwhile, <a href="http://www.businessinsider.com/australian-economy-weakening-2013-5">the Australian economy is starting to crack</a>, as its highly exposed to Chinese demand, and a strong market for commodities.
(Via <a href="https://twitter.com/derek_brower/status/331321790372651008">Derek Brower</a>)

MORGAN STANLEY STRATEGIST: The Oil And Gold Boom Has Come To An End

<ul class="summary-list"><li>"<a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.paramountplus.com%2Fshows%2F1883%2F" rel="nofollow sponsored">1883</a>" has grown in audience demand over the course of its first season, new data shows.</li><li>It overtook "<keyword id="12152245" type="UNKNOWN" weightage="60" keywordseo="yellowstone" source="Orion">Yellowstone</keyword>" in demand in February, but has yet to reach that show's peak demand.</li></ul>The "Yellowstone" universe is paying off for Paramount+."Yellowstone" prequel "1883" surged in audience demand in the US over the course of its first season that aired on Paramount+, according to data from Parrot Analytics. The audience-demand data accounts for engagement with and interest in, or overall popularity, of a series."1883" even overtook "Yellowstone" in audience demand on February 12, near the end of its first season. The show's finale debuted on Sunday. The most recent fourth season of "Yellowstone," the <a href="https://www.businessinsider.com/yellowstone-renewed-for-season-5-on-paramount-network-2022-2">biggest TV series on cable</a>, wrapped in January on Paramount Network.As of February 25, "1883" was still ahead of "Yellowstone" in demand in the US, the former being 24.2 times more in demand than the average series and the latter 19.4 times more in demand.The graph below illustrates the rise of "1883" in demand since it premiered in December.<div type="image" title="1883 vs yellowstone demand chart" height="2704" width="2758" msid="89929066" hostid="261"></div>"1883" has yet to reach the peak demand of "Yellowstone" during the latter's fourth season, though. "1883" peaked on February 22 at 29.1 times more demand than the average series, while "Yellowstone" peaked at 34.0 on December 6, the day after the sixth episode of the season debuted.Still, the success of "1883" bodes well for Paramount+, which is taking advantage of "Yellowstone's" popularity despite lacking the <keyword id="11899360" type="UNKNOWN" weightage="60" keywordseo="streaming" source="Orion">streaming</keyword> rights to the show. NBCUniversal's Peacock secured the exclusive streaming rights to the series in 2020, before Paramount+ launched. Season four <a href="https://www.businessinsider.com/when-yellowstone-season-4-will-stream-peacock-release-date-more-2022-2">will be available on Peacock on March 28</a>.The shows' creator, Taylor Sheridan, is <a href="https://www.businessinsider.com/more-tv-shows-from-yellowstone-creator-1883-mayor-of-kingstown-2022-1">making more series for Paramount+</a>, including other "Yellowstone" spinoffs like the upcoming "1932." Paramount also recently announced that it ordered more episodes of "1883."Read our reviews of the <a href="https://www.businessinsider.com/guides/streaming/paramount-plus-streaming-service" target="_blank" rel="noopener">Paramount+</a> and <a href="https://www.businessinsider.com/guides/tech/peacock-review" target="_blank" rel="noopener">Peacock</a> streaming services, or sign up below:<a target="_merchant" href="https://www.paramountplus.com/"></a><a target="_merchant" href="https://www.paramountplus.com/">Paramount+ 30-day Free Trial</a><keyword id="12300324" type="UNKNOWN" weightage="60" keywordseo="paramount-plus" source="Orion">Paramount Plus</keyword> starts at $5/month with ads, and new members can get a 30-day free trial.<a target="_merchant" href="https://www.paramountplus.com/">$0.00 FROM PARAMOUNT+</a> <a target="_merchant" href="https://www.peacocktv.com/"></a><a target="_merchant" href="https://www.peacocktv.com/">Peacock (Free Plan)</a>Peacock offers a free streaming option with ad-supported access to a limited selection of Peacock movies and shows.<a target="_merchant" href="https://www.peacocktv.com/">$0.00 FROM PEACOCK</a>

'Yellowstone' prequel '1883' surged in popularity during its first season, and it bodes well for Paramount+

<ul class="summary-list"><li>Heathrow is bracing for what could be its busiest period in more than two years this winter. </li><li>The airport is consulting with airlines about managing demand during peak travel times. </li></ul>Europe's busiest airport is bracing for what could be the "busiest period since COVID began" this holiday season and is consulting with airlines about managing demand during peak travel times. London's Heathrow airport was the scene of <a href="https://www.businessinsider.com/travel-chaos-heathrow-airport-worker-ashamed-at-long-queues-delays-2022-8">mass delays, flight cancellations, and long queues this summer.</a> Like many other travel hubs globally it battled with <a href="https://www.businessinsider.com/airlines-labor-shortage-cancelling-flights-aviation-jobs-market-2022-6">labor shortages at a time when demand for travel peaked</a>. Heathrow was so busy in July that it imposed <a href="https://www.businessinsider.com/emirates-refuses-limit-ticket-sales-heathrow-flights-passenger-cap-2022-7">a cap of 100,000 passengers a day</a>. The <a href="https://www.businessinsider.com/heathrow-airport-london-stop-selling-tickets-caps-passengers-travel-chaos-2022-7">cap was extended in September and is set to end on October 29.</a>Although the airport doesn't anticipate the need for a blanket cap this winter, a spokesperson said Heathrow was discussing with airlines "more targeted options to proactively manage peak demand days over winter if needed".A "seat factor cap" that limits capacity on the busiest travel days is one of the options being considered, The <a href="https://www.telegraph.co.uk/business/2022/10/11/heathrow-talks-flight-limits-avoid-nightmare-christmas/">Telegraph</a> reported on Tuesday.The spokesperson declined to comment further but told Insider no final decision had been made. "Heathrow's priority is to ensure passengers get a great service, and we are encouraging airlines to engage with us on developing an approach to achieve this," the spokesperson said.The news comes the day after Heathrow <a href="https://mediacentre.heathrow.com/pressrelease/detail/14224">released</a> its latest passenger data indicating that it handled almost 44 million passengers between January and September this year. It handled 5.8 million passengers in September – more than double the figure for the same month last year but 15 per cent lower than September 2019.The airport said that demand for global travel remained uncertain, due to a new COVID wave and the war in Ukraine, but it still expected "peak days at Christmas to be very busy".Heathrow's CEO, John Holland-Kaye, has previously <a href="https://www.businessinsider.com/travel-disruptions-could-last-until-end-of-2023-heathrow-ceo-2022-7">speculated that it could take until the end of 2023 for the aviation industry to get back to pre-pandemic capacity</a>. In August, the airport said it had recruited 1,300 new staff.

Europe's top airport braces for potential 'busiest period' in more than 2 years, just months after summer's travel chaos

In a new report, Goldman Sachs economist George Cole says the planet is transitioning from the "Age of commodities" to the "Age of consumer durables," which will present new opportunities for global investors as this phase change materializes.
The key is the rise of the middle class consumer in <keyword id="6359891" type="COMPANY" weightage="60" keywordseo="emerging-markets">emerging markets</keyword> (EM).
"Over the coming decades the spending power of the EM middle class - the 'expanding middle' - will cause tectonic shifts in global consumption," says Cole. "The next set of structural opportunities in EMs will therefore depend on understanding not just the macro story of growth, but also the micro story of spending and consumption - in other words, understanding what the world wants."
So, what does the world want?
<div class="KonaFilter image-container float_right click-to-enlarge"><div class="image"><a title_source="Goldman Sachs Global Investment Research" title_caption="Click to enlarge." class="zoomin" href="http://static1.businessinsider.com/image/525845f56bb3f7a13e57f2ea-960/screen%20shot%202013-10-11%20at%202.38.28%20pm.png"></a>Goldman Sachs Global Investment ResearchClick to enlarge.</div></div>Historical consumption patterns have the answer, says Cole: consumer durables, a category that includes everything from washing machines to sports cars (see chart at right).
"These dynamics suggest that the EM story depends on more than simply headline growth," says Cole. "As EM incomes continue to rise in coming decades, the rate of demand growth for high-end consumer durables and services will continue to increase even after the peak of global potential GDP growth has passed."
Thus, a shift from the "Age of commodities" to the "Age of consumer durables," as Cole explains in the report:
The overall message is that we are passing from an 'Age of commodities' to an 'Age of consumer durables' - if commodities have seen the bulk of EM demand pressure over the previous decade, this is likely to shift to consumer durables in the next decade.
For low-end consumer durables, a large part of this shift has occurred. For example, annual EM demand for cars is set to outstrip DMs in the next few years, driven by a three-fold increase in demand from China between the current and previous decade. For higher-end durables such as dishwashers and luxury cars the shift occurs later, with EM demand outpacing DMs by 2030.
Growth in the demand for services remains high and consistent across each decade to 2050, and the EM share of services climbs higher each decade. This is in contrast to the EM shares of demand growth for commodities and low-end durables, which have largely peaked.
"Across the regions, Asia, Latin America, CEEMEA and MENA all see major growth in consumer durables as they move through the current decade, and all hit the income range for peak services demand after 2030," says Cole. "Africa, with current income levels in the region of peak demand growth for commodities, has the most room to grow."

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