Washington is known for partisan political skirmishing, so it’s not surprising that a group of Senate Democrats is trying to score political points against this year’s tax reform legislation by suggesting that lowering the corporate income tax rate has been linked to the recent rise in gasoline prices. Let’s straighten them out on a couple of important… Keep reading →
In 2015, energy from grid-connected, utility-scale solar plants surpassed that from wind power for the first time ever in California, according to an analysis from Vaisala.
The prolonged turbulence in oil prices has brought cost reduction programmes, the shelving of projects, and insolvencies in the oil field services (OFS) and exploration and production (E&P) sectors — and has presented a once in- a-generation buying opportunity.
ExxonMobil disclosed a steeper-than-expected 11% drop-off in first-quarter profits on Thursday as the energy heavyweight was hurt by its chemical and exploration and production divisions. Shares of the world’s largest publicly traded energy company retreated more than 1% in the wake of the earnings miss.Irving, Tex.-based Exxon said it earned $9.45 billion, or $2 a share, last quarter, compared with a profit of $10.65 billion, or $2.14 a share, a year earlier. Analysts had been calling for more robust EPS of $2.09. Revenue jumped 8.8% to $124.05 billion, but that also trailed forecasts from Wall Street, which expected $124.76 billion. “First quarter results reflect our ongoing focus on developing and delivering energy needed to support job creation and economic growth,” CEO Rex Tillerson said in a statement.
