The fall to six-year lows in oil prices has been swift and unexpected. The pace of energy sector layoffs in recent weeks has been similarly quick, if not so surprising. Job cuts are inevitable as oil and gas companies watch commodity prices tumble, but layoffs today could have significant ramifications for the sector tomorrow. For… Keep reading →
Illicit oil sales are no longer the main source of revenue for the Islamic State, according to a Pentagon statement earlier this week. “Oil smuggling had become a crucial source of revenue for the group, which holds a handful of oil fields in Iraq and Syria. Oil profits set the extremist organization apart from other… Keep reading →
A few years ago, the oil boom brought jobs, workers and money to Williston, N.D. But the influx of young men also brought a rise in crimes like prostitution, drug trafficking, theft, and even murder. The town’s two strip clubs — Whispers and Heartbreakers — stand closed after police were called 189 times in under… Keep reading →
Despite the 15 percent jump in oil since Thursday, U.S. crude is not in for a sharp bounce upward, Stewart Glickman of S&P Capital IQ told CNBC on Tuesday. The energy equity analyst noted in a “Squawk on the Street” interview that the forecast from S&P Capital IQ sister company Bentek Energy for 2015 puts… Keep reading →
2015 Oil Prices: U.S. to Emerge as Dominant Player Business Day: For years, Organisation of Petroleum Exporting Countries (OPEC) pulled the strings set the price of oil and controlled the supply. After dictating the course of oil prices for more than 50 years, OPEC is finding its influence diminished. Right now, OPEC represents about 40… Keep reading →
During his recent State of the Union address, President Obama reiterated the importance of American energy: “One of the biggest factors in bringing more jobs back is our commitment to American energy. The all-of-the-above energy strategy I announced a few years ago is working, and today, America is closer to energy independence than we’ve been in decades.”… Keep reading →
In BBC News’ Ten Things We Didn’t Know Last Week, we discovered the following: A study has found that zinc oxide-based solar cells – which are less efficient than silicon-based cells – convert sunlight into electricity more efficiently when rock or pop music is being played, and while much of the debate about wind power’s effect on… Keep reading →
