A Wave Of Downgrades Has Hit The U.S. Oil Patch
The riskier end of the energy bond market has lately suffered a sharp blow in response to an epic oil price crash as the coronavirus pandemic and oil price war Continue Reading
U.S. Car Sales Decimated By Coronavirus Crisis
If any company is bracing for the shock of falling U.S. auto sales, it’s got to be Group 1 Automotive. The company owns and operates 186 auto dealerships along with Continue Reading
U.S. Gasoline Demand Plummets Despite Low Oil Prices
Demand for gasoline in the United States fell by 859,000 bpd, the Energy Information Administration (EIA) said in its weekly petroleum status report . According to Reuters, this is the Continue Reading
Ford aiming to restart North American production beginning April 6
Ford is aiming to restart production at some of its North American plants as early as April 6, the company said Thursday. Ford said it is planning to resume production Continue Reading
US DOE still seeking funding for SPR crude fill after Congress nixes plan
The Trump administration will continue to urge Congress to appropriate $3 billion to fill the Strategic Petroleum Reserve with US crudes after lawmakers removed the plan from a coronavirus relief Continue Reading
Tesla to slash on-site staff at Nevada factory by 75% due to virus: county manager
U.S. electric carmaker Tesla Inc ( TSLA.O ) plans to slash on-site staff at its Nevada battery plant by around 75% due to the coronavirus pandemic, the local county manager Continue Reading
Citing virus, EPA has stopped enforcing environmental laws
The Environmental Protection Agency on Thursday abruptly waived enforcement on a range of legally mandated public health and environmental protections, saying industries could have trouble complying with them during the Continue Reading
After Considering $1 Billion Price Tag for Ventilators, White House Has Second Thoughts
The White House had been preparing to reveal on Wednesday a joint venture between General Motors and Ventec Life Systems that would allow for the production of as many as Continue Reading
The coronavirus recession is just getting started
The record 3.3 million jobless claims reported Thursday mark the beginning of an economic crisis facing American workers and businesses — a slump, experts say, that will only end when Continue Reading
Cruise lines, early source of coronavirus infections, out of bailout package
The Grand Princess cruise ship docked at Oakland, Calif., after two men who were on the coronavirus-stricken cruise ship died from the virus. (Ben Margot/AP) The cruise industry, particularly Carnival-owned Continue Reading