- Simple Ways For Your Business To Conserve Power
Wasted energy is wasted money, so cutting down on both will benefit a business. Here are some simple ways to do so and also add to your bottom line.
Have Your Company’s Energy Usage Audited
At first, an energy audit may sound a little bit frightening. However, the process itself is extremely simple. All that you have to do is contact your local utility company to schedule a time for them to come to your place of business and evaluate how your energy is being used. After checking out your building or facility, they can then make recommendations on how you can conserve power. This can help you reduce your energy usage while at the same time lowering your monthly utility expenses.
Avoid Wasted Energy By Turning off Devices And Lights
Overhead lights, lamps, and office equipment can drain a tremendous amount of energy if they are left on overnight. The simple act of turning these devices off at night can help your business save a significant amount of power. You can set your computers up to automatically hibernate when they are not in use. Alternatively, you can even set them to shut down altogether. You may even want to assign the task of going through the building to look for any devices that are still on to one of your employees. This not only includes office equipment but also additional electrical devices such as the coffee maker or the microwave. You can make it easier to turn everything off at night by connecting all of your devices to power strips. Then, it is simply a matter of flipping the switch to the off position at the end of the day.
Use The Light From Outside Whenever Possible
Opening up your blinds or curtains and letting outside light come in can be a great way to reduce the need for lamps for overhead lights. This can help you cut back on your daytime energy usage. In some cases, you may be able to rely entirely on natural light, eliminating the need for indoor lighting in certain parts of your building.
Switch To Energy-Saving Light Bulbs
These days, there are so many different types of energy-efficient bulbs on the market that there is really no excuse not to be using them in your building. It is an incredibly simple way to drastically cut the amount of power that your company uses. Best of all, the cost of LED and compact fluorescent bulbs is continually dropping. That means that you can replace all of your existing light bulbs without having to spend a fortune in the process. The best part is, these bulbs also last much longer than incandescent bulbs. That means that you won’t have to replace them for a long time. The combination of a longer life span and lower energy usage can wind up saving you a ton of money.
There can be a big disparity in the prices charged by different energy companies to supply your energy and looking and comparing can make all the difference. Simply Switch’s energy comparison tool is well worth a look If you want to save money.
Automate The Process Of Saving Energy
There are a lot of devices on the market that are designed to automatically reduce power usage. For instance, motion sensors can be used to automatically turn off the lights in a room if it is unoccupied. Some dimmer switches can even be set to automatically adjust the light level in the room based on the amount of light coming in from outside. These types of devices can help you save without even having to think about it after they are installed.
Brent Crude Oil Approaches $70 Per Barrel on Friday
Nigerian Oil Approaches $70 Per Barrel Following OPEC+ Production Cuts Extension
Brent crude oil, against which Nigerian oil is priced, rose to $69 on Friday at 3:55 pm Nigerian time.
Oil price jumped after OPEC and allies, known as OPEC plus, agreed to role-over crude oil production cuts to further reduce global oil supplies and artificially sustain oil price in a move experts said could stoke inflationary pressure.
Brent crude oil rose from $63.86 per barrel on Wednesday to $69 per barrel on Friday as energy investors became more optimistic about the oil outlook.
While certain experts are worried that U.S crude oil production will eventually hurt OPEC strategy once the economy fully opens, few experts are saying production in the world’s largest economy won’t hit pre-pandemic highs.
According to Vicki Hollub, the CEO of Occidental, U.S oil production may not return to pre-pandemic levels given a shift in corporates’ value.
“I do believe that most companies have committed to value growth, rather than production growth,” she said during a CNBC Evolve conversation with Brian Sullivan. “And so I do believe that that’s going to be part of the reason that oil production in the United States does not get back to 13 million barrels a day.”
Hollub believes corporate organisations will focus on optimizing present operations and facilities, rather than seeking growth at all costs. She, however, noted that oil prices rebounded faster than expected, largely due to China, India and United States’ growing consumption.
“The recovery looks more V-shaped than we had originally thought it would be,” she said. Occidental previous projection had oil production recovering to pre-pandemic levels by the middle of 2022. The CEO Now believes demand will return by the end of this year or the first few months of 2022.
“I do believe we’re headed for a much healthier supply and demand environment” she said.
Oil Jumps to $67.70 as OPEC+ Extends Production Cuts
Oil Jumps to $67.70 as OPEC+ Extends Production Cuts
Brent crude oil, against which Nigerian oil is priced, rose to $67.70 per barrel on Thursday following the decision of OPEC and allies, known as OPEC+, to extend production cuts.
OPEC and allies are presently debating whether to restore as much as 1.5 million barrels per day of crude oil in April, according to people with the knowledge of the meeting.
Experts have said OPEC+ continuous production cuts could increase global inflationary pressure with the rising price of could oil. However, Saudi Energy Minister Prince Abdulaziz bin Salman said “I don’t think it will overheat.”
Last year “we suffered alone, we as OPEC+” and now “it’s about being vigilant and being careful,” he said.
Saudi minister added that the additional 1 million barrel-a-day voluntary production cut the kingdom introduced in February was now open-ended. Meaning, OPEC+ will be withholding 7 million barrels a day or 7 percent of global demand from the market– even as fuel consumption recovers in many nations.
Experts have started predicting $75 a barrel by April.
“We expect oil prices to rise toward $70 to $75 a barrel during April,” said Ann-Louise Hittle, vice president of macro oils at consultant Wood Mackenzie Ltd. “The risk is these higher prices will dampen the tentative global recovery. But the Saudi energy minister is adamant OPEC+ must watch for concrete signs of a demand rise before he moves on production.”
Gold Hits Eight-Month Low as Global Optimism Grows Amid Rising Demand for Bitcoin
Gold Struggles Ahead of Economic Recovery as Bitcoin, New Gold, Surges
Global haven asset, gold, declined to the lowest in more than eight months on Tuesday as signs of global economic recovery became glaring with rising bond yields.
The price of the precious metal declined to $1,718 per ounce during London trading on Thursday, down from $2,072 it traded in August as more investors continue to cut down on their holdings of the metal.
The previous metal usually performs poorly with rising yields on other assets like bonds, especially given the fact that gold does not provide streams of interest payments. Investors have been jumping on US bonds ahead of President Joe Biden’s $1.9 trillion coronavirus stimulus package, expected to stoke stronger US price growth.
“We see the rising bond yields as a sign of economic optimism, which has also prompted gold investors to sell some of their positions,” said Carsten Menke of Julius Baer.
Another analyst from Commerzbank, Carsten Fritsch, said that “gold’s reputation appears to have been tarnished considerably by the heavy losses of recent weeks, as evidenced by the ongoing outflows from gold ETFs”.
Experts at Investors King believed the growing demand for Bitcoin, now called the new gold, and other cryptocurrencies in recent months by institutional investors is hurting gold attractiveness.
In a recent report, analysts at Citigroup have started projecting mainstream acceptance for the unregulated dominant cryptocurrency, Bitcoin.
The price of Bitcoin has rallied by 60 percent to $52,000 this year alone. While Ethereum has risen by over 660 percent in 2021.
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