US oil inventories grew by 4.4 million barrels last week to 395.1 mn bbls, their highest level in three decades, according to oil and gas industry group API. But Energy Information Administration data out later today might show that supplies actually declined. Confusing. [Bloomberg] UPDATE: EIA data shows US commercial crude stocks for the week… Keep reading →
Investors are abandoning the solar manufacturing sector, but the solar game is far from over, according to one analyst. “There will be a resurgence” of solar after a manufacturing shakeout, Jason Channell, director of investment research and analysis at Citigroup, told CNBC. But “we think the next boom is coming from the storage area,” he… Keep reading →
What’s bad for the environment is also bad for the bottom line. That’s what Warren Buffett is arguing in the latest sustainability report from Johns Manville, a building-materials manufacturer owned by Buffett’s company Berkshire Hathaway. In a short note toward the beginning of the report, Buffett writes that “taking shortcuts is not the pathway to achieving sustainable competitive advantage, nor is it an avenue toward satisfying customers” — evidently a reference to the importance of keeping a business green-friendly and compliant with rules. Buffett — investor, philanthropist, tax-the-rich cheerleader and occasional Obama whisperer — seems to put great stock in the idea that environmental prudence goes hand-in-hand with profit.
