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Energy

“$3 per gallon gasoline is in sight amid record U.S. oil production”

“Gas prices look poised to fall below $3 per gallon for the first time since May 2021. Why it matters: Prices at the pump can dictate drivers’ budgets, and have been shown to impact consumer sentiment. Zoom in: The national average price of gas… Continue Reading…

Economy, Energy

“…Venezuela threatens to invade oil-rich Guyana, US worries about how far Maduro will go”

“Venezuela’s threats to annex a majority of Guyana may be an effort by its leader to consolidate power at home ahead of a potential presidential election next year instead of a real intention to invade its neighbor, U.S. officials say. But Washington… Continue Reading…

Energy

“U.S. crude oil tumbles below $75 a barrel after OPEC delays meeting”

“U.S. crude prices fell more than 4% Wednesday after the Organization of Petroleum Exporting Countries delayed a pivotal meeting on production cuts that was scheduled for the weekend. The West Texas Intermediate contract for January dropped $3.27, or 4.2%, to $74.50 a barrel, while… Continue Reading…

Business, Energy

[Exposed] “Carbon emissions of richest 1% equal to those of poorest 66%, Oxfam report finds”

“The world’s richest 1% of people are responsible for around the same percentage of global carbon emissions as the 5 billion people who represent the 66% poorest, according to a report published Monday by Oxfam…” https://www.cnbc.com/2023/11/20/richest-1percent-produce-same-carbon-emissions-as-poorest-66percent-report-.html Let me translate this… Continue Reading…

Energy

“Wind power industry in moment of reckoning as stocks fall and earnings crumble”

“Renewable energy firms are mostly suffering a dire earnings season as struggling supply chains, manufacturing faults and rising production costs eat into profits…” https://www.cnbc.com/2023/11/13/wind-power-industry-in-moment-of-reckoning-as-stocks-fall.html Good. Does anyone know how many birds are killed by windmills a year? I’ll give you… Continue Reading…

Energy, Stocks

“Short sellers go after renewable and EV stocks”

“Short sellers are betting against electric vehicle and solar stocks, both of which have been on a downward trend. A new report from treasury and liquidity management platform Hazeltree shows luxury EV startups Rivian (RIVN) and Lucid (LCID), along with EV… Continue Reading…

Energy

“JPMorgan forecasts energy “supercycle” with Brent crude potentially hitting $150 per barrel”

“In a research report published on Friday, JPMorgan analyst Christyan Malek upgraded the entire global energy sector to an overweight rating, warning that the recent surge in oil prices could potentially drive Brent crude prices as high as $150 a… Continue Reading…

Business, Energy

“Ford will postpone about $12 billion in EV investment as buyers become more cautious”

“Ford Motor said Thursday that many customers in North America are no longer willing to pay a premium for an electric vehicle over an internal-combustion or hybrid alternative. As a result, it’s postponing about $12 billion in planned spending on new… Continue Reading…

Energy

“Chevron to Buy Hess for $53 Billion in Latest Oil Megadeal”

“Chevron Corp. agreed to buy Hess Corp. for $53 billion, a deal aimed at boosting production growth as the US oil industry bets on an enduring future for fossil fuels… The acquisition will give Chevron a significant foothold in Guyana,… Continue Reading…

Economy, Energy

“Oil prices fall on signs Hamas-Israel conflict unlikely to broaden, hotter than expected PPI”

“Crude futures fell more than 2% following a hotter-than-expected Producer Price Index inflation print and signs that a conflict between Israel and Hamas may not extend to other countries, namely Iran… “While uncertainty is high, war in Israel is unlikely… Continue Reading…