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Feds not interested in LNG

Canada’s federal government has no plans to provide subsidies for future liquefied natural gas (LNG) projects, including funds to electrify LNG facilities currently being built, according to the country’s energy minister.

In a television interview on Sunday, Energy and Natural Resources Minister Jonathan Wilkinson clearly said the private sector needs to assess the business case and finance any new LNG projects itself.

“The government is opposed to using government money to fund inefficient fossil fuel subsidies,” Wilkinson told host Vassy Kapelos in an interview with CTV Question Period. “We are not interested in investing in LNG facilities. That’s the role of the private sector.”

You can read more on the matter here.

What’s going on?

• Ontario Increases Critical Minerals Innovation Fund in New Budget (theDeepDive)

• Federal politicians get pay bump, PM salary tops $400k (CBC)

• Freeland Announces Flow-Through Tax Credit One-Year Extension to Boost Mineral Exploration (theDeepDive)

• Exclusive: Iran alerted Russia to security threat before Moscow attack (Reuters)

• Turkey: Erdoğan Suffers Defeat in Location Elections (theDeepDive)

• Unraveling Havana Syndrome: New evidence links the GRU's assassination Unit 29155 to mysterious attacks on U.S. officials and their families (Insider)

• Virginia Governor Vetoes Recreational Marijuana Market Bill (theDeepDive)

• United asks pilots to take unpaid time off, citing Boeing’s delayed aircraft (CNBC)

• Trump's media company shares fall after raising going-concern doubts (Reuters)

• Oregon Passes Right-to-Repair Law (theDeepDive)

What’s the latest?

• Gold Runs: Gold has reached a new high, climbing to as much as $2,265.73 an ounce, bolstered by several factors including geopolitical tensions, strong demand from China, and expectations of interest rate cuts by the Federal Reserve.

• US Growth: U.S. manufacturing exhibited growth in March, with the ISM manufacturing PMI climbing to 50.3, marking the first reading above the growth threshold of 50 since September 2022. This rebound ends a 16-month period of contraction—the longest since the early 2000s—and highlights a recovery in production and new orders.

• Tesla Sales: Forecasts for Tesla's quarterly deliveries have been adjusted downwards, with an average estimate of 453,964 vehicles, marking a more than 6% decrease from the previous quarter's record sales. Despite various incentives offered by Tesla, including free trials of its Full Self-Driving feature and discounts, CEO Elon Musk has indicated the company is in a transitional phase awaiting the next major growth wave anticipated with the launch of a more affordable vehicle model next year.

• UPS Beats FedEx: United Parcel Service is set to become the primary air cargo provider for the United States Postal Service, taking over from FedEx, which ended its more than 20-year partnership due to disagreements over contract terms. The specifics of the UPS contract were not disclosed, but it is described as "significant."

• Kremlin Disputes Claims: The Kremlin has refuted claims suggesting Russian military intelligence could be linked to the "Havana syndrome," an ailment affecting U.S. diplomats and spies worldwide. Insider, in collaboration with 60 Minutes and Der Spiegel, implicated GRU's Unit 29155, noting awards and promotions related to "non-lethal acoustic weapons." Kremlin spokesperson Dmitry Peskov dismissed these allegations as baseless, emphasizing the lack of convincing evidence.

Project Generators: DD On The Go, Ep. 1

The stock market and stuff

• NIH Issues Notice of Default to BioNTech Over Alleged Royalty Payments (theDeepDive)

• Exclusive: Microsoft to separate Teams and Office globally amid antitrust scrutiny (Reuters)

• Zuck Sells Close to $200 Million More of Meta Shares This Week (theDeepDive)

• General Motors CEO Mary Barra Remains Focused On EVs (theDeepDive)

• Mild winter wreaks havoc on BRP snowmobile sales, as Ski-Doo maker cuts production (BNN)

• Pride Group Holdings Files for Creditor Protection Following $100-Million Claim (theDeepDive)

In the juniors

• Sigma Lithium To Proceed With 250,000 tpy Expansion, Delays Financial Results (theDeepDive)

• Auxly Cannabis Sees Imperial Brands Convert $123 Million In Debt To Equity Interest (theDeepDive)

• Snowline Gold Sees Major Shareholder Return After Warrant Exercise (theDeepDive)

• Nilam Resources Belatedly Appoints Interim CEO Following Ex-Chief’s Resignation (theDeepDive)

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