Chesapeake Energy announced it has cut about 15 percent of its workforce, or 740 jobs, as depressed oil and gas prices force deeper cost cutting. [CNBC] With Morgan Stanley and Goldman Sachs has just gone soft on energy following a recent $20 per barrel of oil prediction, some analysts are predicting prospective investments while prices… Keep reading →
Shell loses, but everybody wins.
Hilary Clinton has outlined her proposed create climate change agenda with Canada and Mexico centered around clean energy investment. [The Guardian] Scientists have estimated that breaking Arctic permafrost could contain 1,700 gigatons (which is equal to 1.7 trillion tons) of carbon, accelerating climate change. [The Washington Post] Oil prices fell back into the red on… Keep reading →
State Governments have revealed renewable energy’s potential may be understated as utilities look at batteries and new pricing strategies to prevent overloads from wind and solar power. [WSJ] Duke Energy, Gov. Pat McCrory’s administration and a group of environmental organizations have agreed to resolve lawsuits state environmental regulators brought against the company over leaking ponds… Keep reading →
The decline in the price of oil could force the U.S. and other non-OPEC producers to make their deepest output cuts since the early 1990s, according to the International Energy Agency. [WSJ] The privatization of Zambia’s mines has created an energy crisis, producing regular power cuts and inadequate funds for new power stations. [The Guardian] Researchers… Keep reading →
Commodity price volatility has thrust cost management to the top of the boardroom agenda as global oil and gas companies have grappled with how to improve margins in a low-price environment. In fact, EY’s recent Capital Confidence Barometer revealed a more than threefold increase over the last two years in the number of oil and… Keep reading →
Jim Chanos is locking horns with Carl Icahn over liquid natural gas, stating he’s betting against Cheniere Energy Inc., of which Icahn is the largest shareholder. [Bloomberg] Falling U.S. oil production and low crude prices are casting a shadow over infrastructural pipeline construction. [WSJ] California officials told a citizens oversight board Tuesday that they know of… Keep reading →
Crude prices rose as much as 4 percent on Thursday amid optimism over equity markets helped offset a surprise increase in U.S. oil inventory levels. [CNBC] A new report released Wednesday highlights the gains the energy storage industry is making, and predicts its continued growth in the coming year. [The Washington Post] A court in the Netherlands has ruled… Keep reading →
The collapse of oil prices in the latter half of 2014 has led to SEC scrutiny of exploration and production (E&P) company compliance with rules regarding the calculation and reporting of proved reserves.
Mark the date on your calendars: Aug. 28, 2018. That’s when Saudi Arabia goes broke. Or at least that’s the date according to one model of the oil-rich nation’s reserves, crude production and the price of oil. If crude stays around $40, America’s Middle Eastern ally will run out of money on that date. Obviously,… Keep reading →
