Archive for August, 2015
Texas economy activity index down slightly in June
Decline of WTI prices below $40/b will weaken Texas economy in coming months The plunge in global oil prices is affecting the Texas economy, according to Comerica Bank’s Texas Economic Activity Index, but the state has held up well considering the pressure on the energy sector. Comerica Bank’s Texas Economic Activity Index eased in June, decreasing […]
US traffic jams rebound to an all time high, thanks in part to better economy
Houston in Top 10 of worst traffic jams in America More jobs and cheaper gasoline come with a big, honking downside: U.S. traffic jams are back now that the recession is in the rearview mirror. Commuters in Washington, D.C., suffer the most, losing an average of 82 hours a year to rush-hour slowdowns, a new study […]
IG: Solyndra officials misrepresented facts to get federal loan guarantee
Solyndra officials called ‘reckless’, ‘irresponsible’ WASHINGTON – A four-year investigation has concluded that officials of the solar company Solyndra misrepresented facts and omitted key information in their efforts to get a $535 million loan guarantee from the federal government. The company’s collapse soon after getting federal backing provided ammunition to lawmakers and other critics who portrayed it […]
With oil prices below U$40 a barrel, reserve writedowns likely in store
Low oil prices may mean oilsands crude stays in the ground for years CALGARY – Another wave of ugly news is looming for oil producers already battered by weak oil prices. Every year, companies hire outside evaluators to tally up their reserves, a calculation of how much resource in the ground can be recovered technically and economically. With U.S. […]
Schlumberger, Cameron merge in oil field blockbuster deal
Combined company had 2014 pro forma revenue of $59 billion Schlumberger is buying Cameron in a cash-and-stock deal valued at about $12.71 billion that would create an oilfield equipment and service powerhouse. Cameron was the maker of the blowout preventer on the ill-fated Deepwater Horizon rig, which was rocked by an explosion and fire in 2010 […]
Shale natural gas production expected to decline in Sept.
Utica only shale basin expected to increase production Natural gas production in shale regions is expected to drop in September as drilling slows and cannot keep up with the drop off from legacy wells, according to the US Energy Information Administration’s Drilling Productivity Report. Production from these seven shale regions reached a high in May at […]
Clean Power Plan: Obama announces $1 billion of loan guarantees
Clean Power Plan supports distributed renewable energy projects, additional funding for solar power generation President Barack Obama today announced more than $1 billion to drive innovation and accelerate the clean energy economy, according to the Department of Energy. As part of the President’s Clean Power Plan, DOE’s Loan Programs Office is making up to one billion dollars in […]
National Clean Energy Summit: Obama throws support behind wind, solar power
National Clean Energy Summit in Vegas LAS VEGAS – President Barack Obama brought presidential star power to tout the benefits of solar electricity in Western states during an annual green power conference Monday in Las Vegas hosted by U.S. Sen. Harry Reid. The president used a keynote speech to the eighth National Clean Energy Summit at the […]
US coal reps host Chinese energy officials, talk ‘clean coal’
China, US coal summit in Billings, Montana BILLINGS, Mont. – US coal representatives from coal-rich states are meeting with Chinese energy officials in a bid to advance so-called clean-coal technologies that have struggled to gain traction. The conference, held in Billings and hosted by officials and the governors of some Western states, takes place near one of the largest coal reserves […]
India’s coal industry in flux as government sets ambitious production targets
Forest clearances, environmental permits, land acquisition challenges remain obstacles to rapid development of India’s coal industry Coal consumption in India, particularly in the electric power sector, is outpacing India’s domestic production. From 2005 to 2012, India’s coal production grew by only 4.7% per year to about 600 million metric tons while the country’s coal-fired electric […]
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