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Oil from Canada supplies more than 23% of U.S. refinery feedstock, helping bolster North American energy security By Ven Venkatachalam Aerial view of an oil refinery in Los Angeles, California. Getty Images photo Introduction The refining industry¹ in the United States is one of the world’s largest, with capacity to process 18 million barrels of …
The Importance of Canadian Crude Oil to Refineries in the U.S. Read More »
U.S. natural gas futures edged lower on Thursday ahead of a storage report that is likely to show a smaller-than-normal withdrawal, further adding to the excess supplies that drove prices on a path for their fourth consecutive monthly decline. Front-month gas futures for April delivery lost 1% to $1.869 per million British thermal units (mmBtu) …
Natgas Prices Face 4th Straight Monthly Decline on Storage Surplus Read More »
Automakers now have one fewer competitor to worry about in a crowded and uncertain arena Bloomberg News The sudden demise of Apple Inc.’s electric-vehicle program is a bleak sign for the car market. It’s also a welcome boon for automakers themselves. Apple Pulls Plug on Electric Car Plans Apple Inc. is canceling a decade-long effort to build an …
Apple’s Electric-Vehicle Wind Down Offers Reprieve to Tesla, Detroit Rivals Read More »
Bloomberg Power provider plans to apply for state loan to build plants Loan would come from $5 billion energy fund approved by voters NRG Energy Inc. plans to apply for as much as $900 million in loans from Texas to build power projects that would run on natural gas, according to its top executive. The loans would cover …
NRG Targeting $900 Million From Texas for New Gas Plants Read More »
Cornell University professor Robert Warren Howarth says methane emissions from American LNG supply chains make the fuel as bad or worse for the climate than coal. Bloomberg When the Biden administration paused approval of new liquefied natural gas export licenses in January, the decision was driven by a recognition that the climate impact from the fossil fuel …
How One Methane Scientist Influenced Biden’s Pause on LNG Approvals Read More »
The disruption in the Red Sea has pushed the amount of crude in transit to a six-month high. Oil analysts and executives from across the industry are starting to sound more upbeat than they have for a while at International Energy Week in London. Speakers at events taking place around the main conference painted a picture of …
Oil Producers May Not Share Analysts’ Views of a Tighter Market Read More »
Reuters Breakingviews) – The Oracle of Omaha’s crystal ball failed him. Warren Buffett conceded in his latest annual letter to Berkshire Hathaway shareholders released over the weekend that he made a “costly mistake” about electricity. The error was thinking that investing huge sums to supply it to American homes and businesses would generate a steady …
Buffett Puts $1 Trillion Grid Problem in a Bad Light Read More »
PCE price index expected to be released at 1330 GMT U.S. crude stockpiles build for fifth straight week Market eyes potential extension to OPEC+ supply cuts LONDON, Feb 29 (Reuters) – Oil prices were little changed Thursday as investors kept their powder dry ahead of U.S. data expected to offer further clues on the outlook …
Oil Prices Steady as Market Awaits Interest Rate Cues Read More »
(Reuters) – Shell’s U.S. solar business Savion has put around a quarter of its assets up for sale, according to a marketing document and industry sources, as the oil major extends a retreat from owning renewables projects under CEO Wael Sawan. Investment bank Jefferies is running the sale of up to 10.6 gigawatts (GW) of solar generation …
Summary OPEC+ expected to make a decision in March on output cuts Spare capacity at multi-year highs- analyst For table of crude price forecasts, click Feb 29 (Reuters) – Analysts were less bullish on oil in February for a fourth straight month, with ample supplies seen holding prices near $80 a barrel this year as …
Oil Prices Expected to Remain Tethered Near $80 a Barrel Read More »
