New Covid-19 Layoffs Make Job Reductions Permanent
A new wave of layoffs is washing over the U.S. as several big companies reassess staffing plans and settle in for a long period of uncertainty. MGM Resorts International and Continue Reading
One of the Brains Behind Tesla Found a New Way to Make Electric Cars Cheaper
Almost every day old iPhones and other used personal electronics arrive by the truckload at a warehouse in Carson City, Nev., where workers crack them open, pull out their batteries Continue Reading
Canadian Oil And Gas Spending Plummets 54%
Canada’s capital spending on its oil and gas industry fell by more than half in the second quarter as the pandemic-inspired low prices continue to burden oil and gas producers Continue Reading
Baker Hughes Reports Drop in Oil Rigs
Baker Hughes reported the total number of rotary drilling rigs operating in the US held flat at 254 this week Baker Hughes Co. on Friday reported the total number of Continue Reading
Hurricane Laura Property Damage in U.S. May Reach $12 Billion
Hurricane Laura, the most intense storm to hit the northwestern Gulf Coast since 1856, will result in as much as $12 billion in damage to real estate, CoreLogic Inc. estimated. Insured wind Continue Reading
Mother Nature on steroids: Early signs point to devastating California fire season
California may experience its worst year for wildfires in decades, climate experts say, pointing out that it has already battled two of the three largest blazes in its recorded history Continue Reading
MGM Resorts to lay off 18,000 furloughed U.S. employees
Casino operator MGM Resorts International ( MGM.N ) informed its staff on Friday it would lay off 18,000 furloughed employees in the United States as the coronavirus-induced travel curbs hurt Continue Reading
Wind Turbine Behemoth Plans for Future by Getting Into Hydrogen
Siemens Gamesa Renewable Energy SA has one eye on the future where its wind turbines could play a key role in creating hydrogen. The company, which earlier this year launched the Continue Reading
EU urges Turkey to stop drilling in Med, ponders sanctions
The European Union on Friday urged Turkey to halt what it called its “illegal” prospecting activities in contested waters in the eastern Mediterranean and ordered EU officials to speed up Continue Reading
Europe coronavirus cases rise again, with fewer deaths
Coronavirus cases are surging again in Europe after months of relative calm, but the second wave looks different from the first: Fewer people are dying, and the newest and mostly Continue Reading
Amazon orders more than 1,800 EVs from Mercedes-Benz Vans
Mercedes-Benz Vans and Amazon announced the largest order for Mercedes-Benz electric vehicles to date: more than 1,800 battery-electric eVito and eSprinter from Mercedes-Benz Vans will be delivered to Amazon starting Continue Reading
Crude prices fall as USGC refineries expect limited impairments from Hurricane Laura
Crude oil futures were lower in midmorning trade in Asia on Aug. 28 as they gave up previous gains on a possible supply disruption risk from Hurricane Laura, after most Continue Reading
Oil Near $43 With Hurricane Laura Unable to Break Market Slumber
Oil stayed in its recent tight range after Hurricane Laura swept the U.S. energy heartland without appearing to inflict major damage on key infrastructure. Futures in New York were steady Continue Reading
Coal’s Share Of Global Energy Supply Has Increased Since 1973
The share of coal of total energy supply increased between 1973 and 2018, while the share of oil shrunk by nearly 15 percentage points, as the share of energy supply Continue Reading
The End of Oil Is Near
THIS PAST SPRING, coastlines around the globe took on the feel of an enemy invasion as hundreds of massive oil tankers overwhelmed seaports from South Africa to Singapore. Locals and Continue Reading
Electric Ships Are Pushing The Boundaries Of Batteries
Maritime transport is one of the largest consumers of fossil fuels and, as such, a natural target for those looking for cleaner alternatives. Making ships electric was a no-brainer, but Continue Reading
The Revolutionary Guards Are Poised to Take Over Iran
Iranian soldiers in Tehran, September 2011 A new saying is making the rounds in Iran: power is being sucked away from heads to toes, which is to say, from men Continue Reading
Hurricane Laura’s rapid intensification is a sign of a warming climate, scientists say
Surveying the Gulf of Mexico late Tuesday afternoon, National Hurricane Center experts saw a Category 1 hurricane — dangerous, but not likely to cause major damage. Forecaster Jack Beven put Continue Reading
India Stops Oil Purchases From China
Indian refiners have stopped buying crude oil from Chinese sellers, according to a Reuters report that cited unnamed sources. The move, according to the report, comes as a result of Continue Reading
India To Propose World Solar Bank
India will propose a World Solar Bank at the World Solar Technology Summit organized by the International Solar Alliance (ISA) in September, the Business Standard reported. Stay up to date Continue Reading
Venezuelans fight virus in secret to avoid isolation centers
Velacio Vicuña began to cough incessantly and felt feverish. But the tire salesman avoided getting a test for the new coronavirus, fearing that if it was positive, soldiers would take Continue Reading
Chinese Data Shows Beijing Continues Iranian Oil Imports
Official Chinese data showed this week that China imported 120,000 barrels per day (bpd) of oil from Iran in July as Beijing returns to reporting crude imports from the Islamic Continue Reading
China is Heating Up Faster Than The Global Average, Data Shows
China has seen faster temperature increases and rising sea levels than the global average rate over the past few decades, and experienced more frequent extreme weather events, according to official Continue Reading
China Looks To Dive Into The American EV Market
A brand new electric car is preparing to hit the U.S. and it’s either going to take EVs by storm because it’s super cheap, or it’s going to meet the Continue Reading
United Airlines announces biggest pilot job cut in its history
United Airlines ( UAL.O ) is preparing for the biggest pilot furloughs of its history after announcing on Thursday the need to cut 2,850 pilot jobs this year, or about Continue Reading
Bill Gates’ nuclear venture plans reactor to complement solar, wind power boom
A nuclear energy venture founded by Bill Gates said Thursday it hopes to build small advanced nuclear power stations that can store electricity to supplement grids increasingly supplied by intermittent Continue Reading
Walmart Cuts 230 Million Metric Tons of Greenhouse Gases
Walmart Inc. has cut 230 million metric tons of greenhouse gases out of its supply chain in the past three years, putting the world’s largest retailer on track to achieve Continue Reading
As virus rages, US economy struggles to sustain a recovery
Home sales are booming. Stocks are setting record highs. Industrial production is clambering out of the ditch it fell into early this year. And yet the U.S. economy is nowhere Continue Reading
U.S. economy plunged an annualized 31.7% in second quarter
The U.S. economy shrank at an alarming annual rate of 31.7% during the April-June quarter as it struggled under the weight of the viral pandemic, the government estimated Thursday. It Continue Reading
Hydrogen Is Cleaning Up One Of The World’s Dirtiest Industries
Acceptance is the first step to recovery. One of the world’s dirtiest industries seems to have taken this tenet of the 12-step program to heart. It knows it has a Continue Reading
Oil Major Equinor Stops Drilling In U.S. Shale Patch
Norway’s Equinor will not drill any more wells in the U.S. shale patch this year as it adjusts to a lower-for-longer oil price environment, a spokesperson for the company said Continue Reading
Dakota Access Case Could Sour Future Pipeline Plans
The U.S. Army Corps of Engineers has asked an appeals court to reverse a lower court’s ruling vacating the permit of the Dakota Access oil pipeline to operate, arguing that Continue Reading
U.S. Biofuel Mandate Decision Could Be Delayed By Pandemic
The U.S. Environmental Protection Agency (EPA) may be unable to come up with a decision for next year’s biofuel blending requirements by the November 30 deadline because of the coronavirus Continue Reading
US oil, gas rig count drops by seven to 282, mostly from small plays
The US oil and gas rig count dropped by seven on the week to 282 with small plays along the Texas Gulf Coast and Kansas accounting for most of the Continue Reading
US weekly coal production totals 11.3 million st, up 9.6% on week: EIA
Weekly US coal production was estimated at 11.3 million st in the week ended Aug. 22, up 9.6% from the previous week, Energy Information Administration data showed Aug. 27. It Continue Reading
Hurricane Laura: Texas Chemical Plants Leak Toxic Emissions
In the chaos surrounding Hurricane Laura, a sprawling chemical plant in Port Arthur, Texas, released nearly 90 tons of emissions, including a half ton of cancer-causing benzene and 8.7 tons Continue Reading
The U.S. Energy Storage Boom Is About To Begin
The rise of renewable energy sources and the decarbonization of the grid will need new energy storage installations in the coming years to provide flexible energy and capacity. Alongside rising Continue Reading
California utilities could face long-term impact from fires and blackouts: Fitch
California utilities, community choice aggregators and renewable developers are not expected to see a hit to their credit ratings due to ongoing wildfires and recent rolling blackouts, but a “potential Continue Reading
An Oil Giant’s Wall Street Fall: The World is Sending the Industry Signals, but is Exxon Listening?
An ExxonMobil sign is seen on a gas station on October 25, 2018 in Gutenberg New Jersey. ExxonMobil has fallen off the Dow Jones Industrial Average stock index. Credit: Kena Continue Reading
EPA’s big coronavirus announcement questioned by scientists
The pressure’s on to get Americans to fly again: As the novel coronavirus put a serious dent in air travel, airlines are warning they plan to cut tens of thousands of Continue Reading
US initial jobless claims hovers around the 1m mark
New US jobless claims hovered near 1m last week, although the overall number of Americans collecting unemployment benefits fell as more businesses rehire workers. Initial applications for unemployment aid totalled a Continue Reading
Electric-Car Surge Paces Europe’s Best Auto Sales in 10 Months
Hybrid and electric-car registrations soared in Europe last month, seizing a record share of the market and lifting total sales to the highest in 10 months. Registrations of plug-in hybrids more Continue Reading
Putin Would Like To See Oil Prices Above $46 Per Barrel
It would be better for Russia if oil prices were higher than $46 a barrel, Russian President Vladimir Putin said on Thursday. In an interview with Russian TV channel Rossiya, Continue Reading
Mercedes gets big electric van order from Amazon
Amazon says it’s buying 1,800 electric delivery vans from Mercedes-Benz, the biggest such order for the German automaker to date. In announcing the order Friday, Mercedes said it would also Continue Reading
Europe’s tense standoffs with Turkey and Russia
On Europe’s periphery, tensions involving an array of competing countries are rising. The brewing crisis in Belarus has sparked fears of an armed Russian intervention. And a standoff in the Continue Reading
Oil at 5-Month High as Hurricane Nears Coast
Oil held at a five-month high as Hurricane Laura bore down on key refining facilities on the U.S. Gulf Coast and an industry report added to optimism that American energy Continue Reading
Oil steadies; virus concerns weigh as hurricane heads to U.S.
Oil prices steadied on Wednesday, pressured by worries about the demand outlook during the coronavirus pandemic but buoyed as U.S. producers shut output in the Gulf of Mexico ahead of Continue Reading
Bullish EIA Inventory Report Pushes Oil Prices Higher
Crude oil price rallied further today after the Energy Information Administration reported a crude oil inventory draw of 4.7 million barrels for the week to August 21. At 507.8 million Continue Reading
Shipbuilding Orders Hit 20-Year Low as IMO Rules and Virus Unsettle Shipping
There’s hardly anyone buying new ships, with orders plunging to a 20-year low due to a potent combination of uncertainty over environmental regulations, the economic fallout from the coronavirus pandemic Continue Reading
3 Oil Majors That Bet Big On Renewables
Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward Continue Reading