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Exxon Mobil has been ordered to explain to a federal judge by Monday why a lawsuit it filed against two shareholder activists should continue after the groups withdrew the climate resolution they had proposed for the energy giant’s annual meeting. In the order issued on Friday, U.S. District Judge Mark Pittman told Exxon to file …
Exxon Shareholder Proposal Withdrawal May End Lawsuit Read More »
(Reuters) – Rare earth prices have likely bottomed out and are poised to rise later this year on demand from electric vehicles (EVs) and wind power and as dominant producer China is expected to pull back on expanding output quotas, analysts said. Rare earths are a group of 17 elements used in products from lasers …
Rare Earths Prices Seen Rebounding in Second Half of 2024 Read More »
Portfolio investors raced to build bullish positions in petroleum at the end of January amid signs the business cycle slowdown is coming to an end and fears about attacks on tankers near southwestern Arabia. Hedge funds and other money managers purchased the equivalent of 97 million barrels in the six most important petroleum futures and …
Oil Investors Try to Get Bullish as Global Economy Improves: John Kemp Read More »
U.S. oil refiners are expected to have about 1.9 million barrels per day (bpd) of capacity offline for the week ending Feb. 9, increasing available refining capacity by 110,000 bpd, research company IIR Energy said on Monday. Offline capacity is expected to fall to 1.1 million bpd in the week ending Feb. 16, IIR added. …
U.S. Oil Refiners’ Weekly capacity Seen Up 110,000 Bpd – IIR Read More »
The Biden administration’s decision to halt new natural gas-export licenses is a “mistake” that will slow efforts to reduce climate-damaging emissions, according to Exxon Mobil Corp. “Reducing production of LNG actually harms the world achieving net zero sooner rather than later,” Chief Financial Officer Kathy Mikells said during an interview. “It’s a mistake.” Although natural gas that is liquefied …
Biden’s Natural Gas Export Project Freeze Is a ‘Mistake,’ Exxon CFO Says Read More »
(Reuters) – The spot price of liquefied natural gas (LNG) is continuing to meander at low levels amid ample supply from major exporters and signs that winter demand is easing in the top-importing regions of Asia and Europe. The spot price for LNG delivered to north Asia ended at $9.60 per million British thermal units …
Asia LNG Imports are Robust, But Record Supply Keeps Spot Prices Muted Read More »
Summary OECD raises US growth outlook, cuts euro zone OECD sees Fed rate cut in Q2, ECB in Q3 Red Sea attacks could boost CPI 0.4 points PARIS, Feb 5 (Reuters) – The global economy is on course to hold up better this year than expected only a few months ago as an improved outlook …
OECD Raises Global Growth Outlook on U.S. Strength Read More »
(Reuters) – U.S. President Joe Biden’s administration announced a pause on pending and future permits to export liquefied natural gas (LNG) to non-Free Trade Agreement countries until the Department of Energy finishes a new review of climate impacts. In 2023, roughly 67% of U.S. LNG exports went to Europe and 26% went to Asia, LSEG data …
European and Asian Companies Affected by U.S. Pause on LNG Export Permits Read More »
Summary Positive U.S. jobs report could delay rate cuts US plans further strikes against Iran-backed groups Ukraine hits Russia’s Volgograd refinery in latest drone attack (Reuters) – Oil prices were steady on Monday following sharp falls last week, after Washington pledged to launch further strikes on Iran-backed groups in the Middle East and a strong …
Oil Steady as Mideast Strikes Compete with Rate Cuts Caution Read More »
Members of Congress just submitted and signed an excellent ETP-advised letter challenging the Biden Administration’s most recent “Environmental Justice” initiative. By Alex Epstein I have long been a critic of the “environmental justice” movement. Like so many aspects of the anti-fossil-fuel movement it ignores the benefits of fossil fuels and overstates their negative side-effects. Unfortunately, many in Congress …
