Tag: US Economy
API says Obama’s offshore policy reversal shuns American consumers, national security
API claims President Obama’s decision will cost America jobs, business opportunities, and tax revenue WASHINGTON – API CEO Jack Gerard says the Administration’s offshore oil and natural gas policy is inconsistent with the will of American voters, governors and members of Congress who overwhelmingly support offshore oil and natural gas exploration and development. “The decision appeases […]
US rig count down by nine, Canadian rig count down by 31
Rig count drops below 100 in Canada HOUSTON _ Baker Hughes released its weekly rig count on Friday, which shows the decline in rigs exploring for oil and natural gas in the United States and Canada continues. In the US, during the week ending on Mar. 11, the rig count was down by nine, to a […]
As oil prices stabilize, increase slightly, stocks snap higher
Oil prices moved higher Tuesday NEW YORK _ Stocks roared to their best day in more than a month Tuesday as investors hit the “buy” button following some encouraging signs of strength in the U.S. economy. Construction spending reached its highest level in eight years in January. Banks, the worst-performing sector of the market so […]
Low gas prices help automakers post big sales gains in February
Low gas prices, low interest rates outweigh stock market volatility in buyers’ minds DETROIT _ Automakers posted big U.S. sales gains in February as consumers returned to showrooms after a snowy January. Ford’s sales rose 20 per cent over last February, boosted in part by higher sales to rental car fleets. Honda’s sales were up […]
US markets rise with oil prices and gold glimmers again
Oil prices rise, natural gas prices fall NEW YORK _ U.S. stocks are edging higher in midday trading on corporate earnings news and rising oil prices. Utilities made the biggest gains. Mining companies rose with the price of gold. KEEPING SCORE: The Dow Jones industrial average gained 46 points, or 0.3 per cent, to 16,686 […]
Low oil prices have had significant impact on US economy: Warren Buffett
Low oil prices mean producing states under severe pressure OMAHA, Neb. _ Billionaire Warren Buffett said the U.S. economy appears weaker than he thought it would be as recently as last fall, but that doesn’t change his optimistic long-term view of the country’s prospects. Buffett appeared on CNBC Monday and addressed a variety of topics […]
US stocks back to flat as oil prices pare gains
Slight gain in oil prices Friday morning NEW YORK _ U.S. stocks were flat to lower in mid-afternoon trading Friday as encouraging economic news in the U.S. was weighed down by the price of oil, which has turned lower. Stocks were still on pace to be up for the second straight week, however. Utility stocks […]
Opinion: What Houston needs: An energy president
Houston, the U.S. need leadership during a period of low oil prices, layoffs By Ed Hirs, University of Houston The candidates in this year’s fractious presidential campaign agree about one thing: There’s universal silence on energy policy. And even if they include a wish list of energy proposals on their campaign websites, no one offers […]
Oil prices, factory output up, stocks climbing
Oil prices up after losses on Tuesday NEW YORK _ U.S. stocks are jumping as the price of oil climbs sharply, and they are on pace for their third gain in a row. Energy companies including Chevron are rising, and tech companies are posting big increases led by Microsoft and Facebook. KEEPING SCORE: The Dow […]
Energy companies lose billions buying back their own stock
As the price of oil plunged, energy companies racked up billions in paper losses NEW YORK _ If you think your stocks are doing poorly, check out the performance of some of the most sophisticated investors, the ones with more knowledge about what’s going on inside businesses than anyone else: Companies that buy their own shares. […]
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