Carnival Posts Record Quarterly Loss
Carnival Corp. reported a preliminary quarterly loss of more than $4 billion, its largest ever, as the Covid-19 pandemic has idled ships, and it warned that it could breach a Continue Reading
A Tidal Wave of Bankruptcies Is Coming
Already, companies large and small are succumbing to the effects of the coronavirus. They include household names like Hertz and J. Crew and comparatively anonymous energy companies like Diamond Offshore Continue Reading
Scientists Predict Scorching Temperatures to Last Through Summer
Following a May that tied for the hottest on record, the United States is heading into a potentially blistering summer, with hotter than normal temperatures expected across almost the entire Continue Reading
U.S. Oil Dominance Is Coming To An End
U.S.’ energy dominance agenda is dead as the country’s shale industry is looking at a steep production decline. The U.S. tight oil or shale rig count has fallen 69% this Continue Reading
Goldman: Clean Energy Investment Has Hit A Critical Point
In a report called Carbonomics, investment bank Goldman Sachs concludes that investment in renewables will take a huge leap this decade. As soon as 2021, renewable energy will capture more Continue Reading
The U.S. Is Missing A Major Energy Opportunity
Recent data suggests that the climate is considerably more sensitive to carbon emissions than previously believed. Many major international agencies are pressing to include green energy investments in stimulus packages, Continue Reading
Lower For Longer: A Nightmare Scenario For Oil Producers
Oil producers all over the world are struggling with a slump in demand that has driven the lower-for-longer price forecasts. High-cost producers are between a rock and a hard place Continue Reading
The U.S. Coal Industry Is Declining Irreversibly
Nearly all of the coal produced in the United States goes for electricity generation, but its share has been eroded in recent years by growing natural gas-powered generation and rising Continue Reading
Nearly 85,000 Jobs In U.S. Oilfield Services Lost To Oil Crisis
Nearly 85,000 people in the U.S. oilfield services industry have lost their jobs due to the pandemic-driven oil price crash and demand destruction, Houston-based Petroleum Equipment and Services Association (PESA) Continue Reading
Gasoline Production At Russian Refineries Drops To 15-Year Low
Gasoline production at Russia’s oil refineries slumped to the lowest level in 15 years in May as the country curtailed crude oil production as part of the OPEC+ deal and Continue Reading