(Bloomberg) A resilient US economy will prompt the Federal Reserve to pencil in one more interest-rate hike this year and stay at the peak level next year for longer than previously expected, according to economists surveyed by Bloomberg News.The Federal Open Market Committee will keep rates steady in the 5.25% to 5.5% range at its …
Federal Reserve Seen Signaling One More Hike and Pushing Out 2024 Rate Cuts Read More »
OPEC’s top official warned against abandoning fossil fuels, hitting back once again at remarks from the world’s energy watchdog. Cutting out hydrocarbons “would lead to energy chaos on a potentially unprecedented scale, with dire consequences for economies and billions of people across the world,” Secretary-General Haitham Al-Ghais said Thursday in a statement. On Wednesday, the …
OPEC Chief Warns of ‘Energy Chaos’ If Fossil Fuels Are Scrapped Read More »
Audio and transcript of economist Bryan Caplan’s lecture on energy and environmental policy, focusing on my book Fossil Future By Alex Epstein Economist and George Mason University Professor Bryan Caplan has been one of the most prolific promoters of my book Fossil Future—see “Read Fossil Future,” “Alex Epstein’s Steelmen,” “Let’s Audit Alex Epstein,” and “Fossil Future: The …
Alex Epstein: Bryan Caplan Teaches Fossil Future — Part 1 Read More »
The Organization of the Petroleum Exporting Countries (OPEC) said on Thursday data-based forecasts do not support the International Energy Agency’s (IEA) projection that demand for fossil fuels would peak in 2030. IEA Executive Director Fatih Birol said in an op-ed in the Financial Times on Tuesday that new IEA estimates show “this age of seemingly …
Pushing Back: OPEC Says IEA Estimate of Peak Fossil Fuel Demand by 2030 Not ‘Fact-Based’ Read More »
Since the advent of the shale boom, US oil producers have drilled both downward and sideways deep under the earth’s surface. But now that the easiest-to-reach crude has been extracted, those companies are testing the limits of their technology even further by boring more than 3 miles horizontally, elevating both the operational risk and the potential …
U.S. Oil Drillers Push the Limits – Drilling 3 Miles or More Horizontally Read More »
Summary Oil price near highest in 10 months Tighter market balance for rest of 2023 remains in focus U.S. crude and fuel inventories climb ECB interest rate decision in view LONDON, Sept 14 (Reuters) – Oil rebounded on Thursday as expectations of a tighter global crude supply outlook for the rest of 2023 overshadowed concerns …
Oil Rebounds as Market Refocuses on Supply Tightness Read More »
Sept 13 (Reuters) – United States’ annual renewable energy capacity could triple in 10 years to 110 gigawatts (GW) as clean-energy law powers more investment in the sector, research and consultancy firm Wood Mackenzine said on Wednesday. President Joe Biden’s Inflation Reduction Act (IRA) provides billions of dollars in green energy tax credits to help consumers buy …
U.S. Renewable Energy Capacity Could Triple in 10 years on IRA Boost: Wood Mackenzie Read More »
California faces an energy gap as it transitions to a clean-powered economy by 2045 and must leave all options on the table until then — including nuclear, according to the state’s top air regulator.“Cost obviously is a big factor, waste is a big factor, the permitting challenges are a big factor,” Liane Randolph, chair of …
Nuclear Must Stay an Option in California, Top Regulator Says Read More »
The US expects the global oil market to tighten by the end of 2023, even as crude production rises and demand for refined products remains soft. Crude consumption is set to outstrip supplies worldwide by 230,000 barrels a day in the fourth quarter, the US Energy Information Administration said Tuesday in a monthly report. The US …
Global Oil Shortfall Looms Despite Output Gain and Soft Demand, U.S. Says Read More »
LONDON, Sept 12 (Reuters) – BP (BP.L) CEO Bernard Looney resigned on Tuesday with immediate effect after less than four years in the oil major’s top job for failing to fully disclose details of past personal relationships with colleagues, the company said. Chief Financial Officer Murray Auchincloss will act as CEO on an interim basis, …
BP CEO Looney resigns over personal relationships with colleagues Read More »
