While companies have been increasingly buying renewable energy for several years, Las Vegas is joining an emerging trend of US cities switching to green energy. Las Vegas now plans to Continue Reading
Pledges made ahead of the climate conference in Paris are short of what’s needed to address stated climate change goals, analysis finds. Countries that combine for 86 percent of total Continue Reading
Russia halted natural gas supplies to Ukraine after its western neighbor said it wouldn’t buy more this year amid ample supply. Ukraine’s NAK Naftogaz Ukrainy received its final prepaid volumes Continue Reading
A Ukrainian natural gas company said it expects to receive prepaid gas from Russia and future deliveries may come as demand levels dictate. Russian natural gas company Gazprom said it’s Continue Reading
The year 2015 is likely to be the warmest on record, according to a report released by the UN weather agency on Wednesday. Meanwhile, the global average surface temperature in Continue Reading
The World Meteorological Organisation (WMO) announced today that 2015 is likely to top the charts as the hottest year in modern observations, with 2011-15 the hottest five-year period on record. Continue Reading
The traditional understanding of supply and demand works in some limited cases–will a manufacturer make red dresses or blue dresses? The manufacturer’s choice doesn’t make much difference to the economic Continue Reading
Offshore oil platforms are seen at the Bouri Oil Field off the coast of Libya August 3, 2015. Crude oil futures fell on Wednesday as investor focus shifted back to a deep global supply glut and away from the threat of escalating violence in the Middle East, which pushed prices to two-week highs the previous day. Brent LCOc1 fell 48 cents at $45.64 a barrel at 0900 GMT, reversing brief gains earlier in the session. The benchmark had settled up $1.29 at $46.12 on Tuesday, after hitting its highest since Nov. 11 at $46.50 after Turkey shot down a Russian fighter jet. It had risen for five consecutive days, its longest run of positive sessions since April. U.S. West Texas Intermediate (WTI) futures CLc1 fell 37 cents at $42.50 a barrel. WTI finished up $1.12 on Tuesday at $42.87, having touched $43.46 during the session, also its highest since […]
It’ll take more than $40 crude to make OPEC change its mind, analysts said before the group’s Dec. 4 meeting in Vienna. (Bloomberg) — It’ll take more than $40 crude to make OPEC change its mind, analysts said before the group’s Dec. 4 meeting in Vienna. In the year since the Organization of Petroleum Exporting Countries chose to defend its market share, and let prices sink, a 44 percent plunge in crude has slashed members’ revenues by almost half a trillion dollars. Undeterred, the group will press on with its strategy to batter rival producers when ministers meet next week, according to 30 analysts and traders surveyed by Bloomberg. Saudi Arabia, OPEC’s biggest member, appears determined to see through its plan to eliminate a supply glut by squeezing out competitors like U.S. shale drillers, even as the resulting price collapse spurs dissent from Venezuela, Algeria and Iran. The kingdom’s […]
Oil prices climbed Tuesday on fears of a supply disruption after the Turkish military shot down a Russian jet fighter along the Syrian border. Gasoline surged nearly 6% because of limited supplies in the Northeast ahead of Thanksgiving. The benchmark U.S. crude-oil price soared more than 4% during intraday trading in the hours following the first reports of the fighter-plane incident, which escalated tensions between Russia and Turkey. Oil later pared gains. The rise illustrates how geopolitical risks can still rattle the oil market even as it remains mired in a supply glut that shows few signs of receding. January crude closed $1.12, or 2.7%, higher to $42.87 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, rose 2.9% to $46.12 a barrel on ICE Futures Europe. Both contracts are at two-week highs. Despite Tuesday’s rally, oil prices are still near historic lows amid expectations for […]
