{"id":53043,"date":"2025-09-12T12:38:37","date_gmt":"2025-09-12T16:38:37","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/kuwait-seeks-7-billion-pipeline-funding-as-lutnick-criticizes-musks-doge-approach-amidst-market-volatility\/53043\/"},"modified":"2025-09-12T12:38:37","modified_gmt":"2025-09-12T16:38:37","slug":"kuwait-seeks-7-billion-pipeline-funding-as-lutnick-criticizes-musks-doge-approach-amidst-market-volatility","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/kuwait-seeks-7-billion-pipeline-funding-as-lutnick-criticizes-musks-doge-approach-amidst-market-volatility\/53043\/","title":{"rendered":"Kuwait Seeks $7 Billion Pipeline Funding as Lutnick Criticizes Musk&#8217;s DOGE Approach Amidst Market Volatility"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Kuwait<\/strong> is reportedly considering raising up to <strong>$7 billion<\/strong> through a significant pipeline deal, aligning with its <strong>Vision 2035<\/strong> strategy to boost its oil pipeline industry and reduce import reliance.<\/li>\n<li><strong>Howard Lutnick<\/strong>, CEO of Cantor Fitzgerald (<a href=\"\/stock\/CF\">CF<\/a>) and nominee for Commerce Secretary, criticized <strong>Elon Musk&#39;s<\/strong> approach to <strong>Dogecoin (<a href=\"\/stock\/DOGE\">DOGE<\/a>)<\/strong> and his past role in government efficiency, stating Musk got the mission &quot;backward.&quot;<\/li>\n<li><strong>OPEC+<\/strong>, including Kuwait, plans to increase oil output by <strong>137,000 barrels per day (bpd)<\/strong> from October, signaling a shift towards prioritizing market share despite concerns of oversupply and sliding oil prices.<\/li>\n<li>Recent market reviews from <strong>LiveSquawk<\/strong> highlight ongoing discussions around central bank monetary policy, inflation figures, and employment data, with expectations of a <strong>Federal Reserve<\/strong> rate cut in September.<\/li>\n<\/ul>\n<p>Kuwait is exploring avenues to raise a substantial <strong>$7 billion<\/strong> through a new pipeline deal, according to recent reports. This initiative is part of the nation&#39;s broader <strong>Vision 2035<\/strong> strategy, which includes a planned investment of approximately <strong>$6.6 billion<\/strong> (two billion Kuwaiti dinars) into its oil pipeline infrastructure. The strategic goal is to enhance domestic production capabilities and lessen dependence on imports.<\/p>\n<p>The state-owned <strong>Kuwait Petroleum Corporation (KPC)<\/strong> and its subsidiaries are slated to spearhead these ambitious projects, fostering collaborations with both local and international investors. These plans, already approved by the government, are set for implementation over the next five years, focusing on the manufacturing of essential pipelines and components for the oil and gas sector. This move is expected to not only strengthen Kuwait&#39;s industrial base but also attract global investment and facilitate technology transfer.<\/p>\n<p>In a separate but significant development impacting the cryptocurrency and political spheres, <strong>Howard Lutnick<\/strong>, the chief executive of <strong>Cantor Fitzgerald (<a href=\"\/stock\/CF\">CF<\/a>)<\/strong> and a nominee for Commerce Secretary, publicly stated that <strong>Elon Musk<\/strong> misunderstood the core mission of <strong>Dogecoin (<a href=\"\/stock\/DOGE\">DOGE<\/a>)<\/strong>. Speaking on the premiere of <em>The Axios Show<\/em>, Lutnick remarked that Musk got DOGE&#39;s mission &quot;backward,&quot; drawing a comparison to Musk&#39;s previous role leading the &quot;Doge department of government efficiency&quot; under the Trump administration.<\/p>\n<p>Lutnick&#39;s critique centered on Musk&#39;s approach to government cost-cutting, suggesting Musk believed his strategy of significantly reducing staff at X (formerly Twitter) could be directly applied to government operations. While Musk, as the former head of the <strong>Department of Government Efficiency (DOGE)<\/strong>, aimed to cut <strong>$2 trillion<\/strong> from the federal budget and even proposed placing the U.S. Treasury on a blockchain, his tenure saw more modest cuts of around <strong>$150 billion<\/strong>. His four-month stint in the role involved substantial reductions in federal jobs, with approximately <strong>200,000 layoffs<\/strong> and <strong>75,000 buyouts<\/strong> across various departments, including the <strong>IRS<\/strong>. Musk recently stepped down from this government position.<\/p>\n<p>Meanwhile, Lutnick himself has offered an optimistic economic outlook, predicting over <strong>four percent GDP growth<\/strong> next year, largely driven by a surge in factory construction jobs resulting from tariffs. He also hinted at potential trade agreements with India, contingent on a halt to Russian oil purchases, and with Taiwan.<\/p>\n<p>In the broader energy market, <strong>Kuwait<\/strong> is among eight core <strong>OPEC+<\/strong> producers that have agreed to increase crude output by <strong>137,000 bpd<\/strong> starting in October. This decision is part of a new production cycle that could eventually introduce an additional <strong>1.65 million bpd<\/strong> to the market. This move by OPEC+ signals a strategic shift towards prioritizing market share, even as oil prices continue to slide and concerns about global oversupply persist.<\/p>\n<p>Weekly market reviews from <strong>LiveSquawk<\/strong> have consistently provided insights into the prevailing economic sentiment, focusing on key market-moving events. Recent discussions have revolved around central bank policies, particularly expectations for a <strong>25 basis point rate cut<\/strong> by the <strong>Federal Reserve<\/strong> in September, despite signs of persistent inflation. The reviews also covered <strong>Eurozone inflation<\/strong> ticking higher, though likely insufficient to prompt another <strong>European Central Bank (ECB)<\/strong> rate cut, and analyses of <strong>U.S. core PCE<\/strong> and employment data.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Kuwait is reportedly considering raising up to $7 billion through a significant pipeline deal, aligning with its Vision 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