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Keyword: energy

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  • Hidden Report: Mexico Remittances Total More Than Entire Mexican Oil Revenue

    02/10/2016 6:38:18 PM PST · by Helicondelta · 36 replies
    Remittances sent home by Mexicans working outside the country surpassed petroleum revenues in 2015 for the first time. There was a 4.75% increase in money sent from abroad, most of which comes from the U.S., to total US $24.8 billion last year, up from $23.6 billion in 2014, said the Bank of Mexico. An important factor in the increase in remittances is the jobs created by economic recovery in the U.S. Some 11 million Mexicans are believed to be living in the U.S. and many work in construction. Remittances, 97% of which are sent electronically, averaged $292 last year. We...
  • Supreme Court puts Obama’s “climate saving” power plant regulations on hold

    02/10/2016 9:07:47 PM PST · by Ernest_at_the_Beach · 8 replies
    //wattsupwiththat.com ^ | February 9, 2016 | Anthony Watts
    From the skeptics and common sense win one department…Tanner’s Creek Power Station in Lawrenceburg, IN – closed in 2015 by new EPA regulations. Photo by A. Watts A divided Supreme Court on Tuesday abruptly halted President Obama’s controversial new power plant regulations, dealing a blow to the administration’s sweeping plan to address global warming.In a 5-4 decision, the court halted enforcement of the plan until after legal challenges are resolved.The surprising move is a victory for the coalition of 27 mostly Republican-led states and industry opponents that call the regulations “an unprecedented power grab.”By temporarily freezing the rule the...
  • US President Obama signs Africa electricity plan into law

    02/10/2016 6:18:14 PM PST · by 2ndDivisionVet · 56 replies
    Today Ng ^ | February 9, 2016
    US President Barack Obama has signed into law an initiative aimed at bringing electricity to 50 million people in sub-Saharan Africa by 2020. The Electrify Africa Act of 2015 will give legal backing to Mr Obama's flagship Power Africa scheme, which is trying to improve access to electricity through public-private partnerships. It took nearly two years to be passed in both houses of the US Congress. About two-thirds of people in Africa do not have access to reliable power....
  • OPEC Will Not Blink First

    02/10/2016 10:58:26 AM PST · by bananaman22 · 6 replies
    Oilprice.com ^ | 10-02-2016 | kale poes
    An OPEC production cut is unlikely until U.S. production declines by about another million barrels per day (mmbpd). OPEC won’t cut because it would accomplish nothing beyond a short-term increase in price. Carefully placed comments by OPEC and Russian oil ministers about the possibility of production cuts achieve almost the same price increase as an actual cut.
  • Supreme Court Puts Obama's Clean Power Plan on Hold

    02/09/2016 3:57:46 PM PST · by maddog55 · 12 replies
    ABCNEWS ^ | 09 February 2016 | By michael biesecker and sam hananel
    A divided Supreme Court agreed Tuesday to halt enforcement of President Barack Obama's sweeping plan to address climate change until after legal challenges are resolved. The surprising move is a blow to the administration and a victory for the coalition of 27 mostly Republican-led states and industry opponents that call the regulations "an unprecedented power grab." By temporarily freezing the rule the high court's order signals that opponents have made a strong argument against the plan. A federal appeals court last month refused to put it on hold. The court's four liberal justices said they would have denied the request....
  • Supreme Court blocks Obama carbon emissions plan

    02/09/2016 3:41:40 PM PST · by CedarDave · 63 replies
    Reuters ^ | February 9, 2016 | Lawrence Hurley
    The U.S. Supreme Court on Tuesday delivered a major blow to President Barack Obama by blocking federal regulations to curb carbon dioxide emissions from power plants, the centerpiece of his administration's strategy to combat climate change. On a 5-4 vote, the court granted a request made by 27 states and various companies and business groups to block the administration's Clean Power Plan. The move means the regulations will not be in effect while litigation continues over whether their legality.
  • 5 donors you've never heard of who could shape the 2016 race

    01/02/2016 10:41:55 PM PST · by 2ndDivisionVet · 13 replies
    MSN ^ | January 2, 2016 | Jonathan Swan and Harper Neidig, The Hill
    News articles concerning the most influential political donors in America typically list the same names: The Koch brothers, George Soros, Sheldon Adelson and, lately, Tom Steyer. But as we reach the end of 2015, none of these billionaires has spent big in the 2016 contest, at least not at an individual candidate level. In their absence, a number of lesser known donors are shaping up to be major players in 2016. Here are five to watch: 1. The DeVos Family We're cheating by including a whole family in our list, but there is no way of separating out this high-spending...
  • Obama's $319 Billion Oil Tax Plan Raised to $10.25 a Barrel

    02/09/2016 12:27:48 PM PST · by reaganaut1 · 13 replies
    Bloomberg | February 9, 2016 | Jennifer A Dlouhy and Brian Wingfield
    No excerpt from Bloomberg allowed, story here.
  • Hold on Ex-Im nomination keeps cronyism crimped

    02/09/2016 4:29:56 AM PST · by Cincinatus' Wife · 1 replies
    The Hill ^ | February 9, 2015 | Diane Katz
    The president has nominated attorney J. Mark McWatters for the bank board. However, Sen. Richard Shelby (R-Ala.), chairman of the Committee on Banking, Housing and Urban Affairs, has said he's "in no hurry" to hold a hearing or a vote on the nomination. Other pending confirmations take precedence, he said.The last of the 2015 lobbying reports are in, and the top corporate spender turns out to have been the Boeing Company, at $21.9 million. Not coincidentally, the aerospace giant also outranks thousands of other firms in profiting from the subsidies doled out by the Export-Import Bank. Last year, Boeing benefitted...
  • Trump open to campaign finance reform

    01/18/2016 4:29:32 AM PST · by Cincinatus' Wife · 119 replies
    The Hill ^ | January 17, 2016 | Bradford Richardson
    Pointing to the effects of "horrible" super-PACs, Republican presidential front-runner Donald Trump on Sunday said America needs to come up with a solution to keep big money out of politics. "Well, I think you need it, because I think PACs are a horrible thing," Trump said on CNN's "State of the Union" when asked if he would pursue campaign finance reform. The billionaire businessman, who said he is self-financing his campaign, said the wall separating super-PACs and candidates running for public office is illusory. "First of all, everyone's dealing with their PAC. You know, it's supposed to be like this...
  • Chesapeake moves to quash bankruptcy fears as shares plunge

    02/09/2016 12:17:22 PM PST · by Lorianne · 1 replies
    Reuters ^ | 08 February 2016 | Jessica DiNapoli, Mike Stone
    Chesapeake Energy, the No. 2 U.S. natural gas producer, said on Monday it had no plans to file for bankruptcy, after sources told Reuters the company had asked its longtime counsel to look at restructuring options. Chesapeake's shares were halted after plunging more than 50 percent but later pared some losses, as it said advisers Kirkland & Ellis had been providing counsel since 2010 and will continue to help the company strengthen its balance sheet. Trade publication Debtwire had reported the engagement of Kirkland & Ellis on Friday evening, prompting Chesapeake's shares to drop early on Monday to $1.50 on...
  • Klamath River dams moving toward removal despite congressional barriers ( CA & OR )

    02/08/2016 9:41:55 PM PST · by george76 · 37 replies
    Los Angeles Times ^ | Feb. 3, 2016 | Bettina Boxall
    California, Oregon and the federal government are working on a way around congressional barriers to the removal of hydroelectric dams on the Klamath River. The states, the U.S. Interior Department and the owner of the dams, PacifiCorp, announced Tuesday that they have agreed in principle to pursue removal through the federal dam relicensing process. The move comes after a complex deal to decommission four hydroelectric dams and restore portions of the historic salmon river fell apart when Congress failed to act on a crucial piece of the pact by a Dec. 31 deadline. Republican members of Congress and local elected...
  • Who Would Be The Best Presidential Candidate For Energy Companies?

    02/08/2016 4:02:20 PM PST · by bananaman22 · 6 replies
    Oilprice.com ^ | 08-02-2016 | Oil and Energy
    As the 2016 presidential race starts to heat up it is time to take a look at the remaining serious candidates and what each one might mean for energy policies and energy companies in the U.S. While a lot can happen in the next couple of months, the current leaders for the Republican Party are Donald Trump, Ted Cruz, and Marco Rubio. For the Democrats, the race will likely come down to a long brawl between Hillary Clinton and Bernie Sanders. As a bonus, it’s also worth looking at what Michael Bloomberg might do for energy if he enters the...
  • Are Electric Cars Really Green? (Video)

    02/08/2016 12:30:59 PM PST · by servo1969 · 25 replies
    Prager University ^ | 2-8-2016 | Bjorn Lomborg
    https://www.youtube.com/watch?v=17xh_VRrnMU Do electric cars really help the environment? President Obama thinks so. So does Leonardo DiCaprio. And many others. The argument goes like this: Regular cars run on gasoline, a fossil fuel that pumps CO2 straight out of the tailpipe and into the atmosphere. Electric cars run on electricity. They don't burn any gasoline at all. No gas; no CO2. In fact, electric cars are often advertised as creating "zero emissions." But do they really? Let's take a closer look. First, there's the energy needed to produce the car. More than a third of the lifetime carbon-dioxide emissions from an...
  • Why fuel prices will stay low for the next decade

    02/08/2016 12:22:58 PM PST · by nascarnation · 29 replies
    Autoblog ^ | 2/8/16 | Chris Bruce
    The top exec at an oil trading company thinks the era of crude trading at over $100 a barrel might never return, and the stuff could remain between $40 and $60 for as long as the next 10 years. "You have to believe that there is a possibility that you will not necessarily go back above $100, you know, ever," Ian Taylor, Chief Executive Officer of Vitol Group BV, told Bloomberg. His company is the world's largest independent oil trader. Instead of any significant increase or decrease, the exec believes crude could hit $45 to $50 a barrel in the...
  • U.S. stocks tumble to 22-month low as energy, financials drop

    02/08/2016 7:59:26 AM PST · by John W · 27 replies
    marketwatch.com ^ | February 8, 2016 | Ellie Ismailidou
    U.S. stocks tumbled Monday morning to their lowest level in 22 months as a fresh drop in oil prices amid continuing fears of economic slowdown pushed investors to the perceived safety of government bonds and gold. "Is the market throwing out the baby with the bath water?"said James Meyer, chief investment officer at Tower Bridge Advisors, referring to the "rapid fall in prices for the high flying tech and biotech names that have been leading the market for the past 12 months." "The former leaders of the previous bull cycle are the ones that get taken to the woodshed in...
  • ‘Climate change’ lawyers quietly lay groundwork for EPA takeover of U.S. energy

    02/08/2016 5:22:01 AM PST · by Texas Fossil · 52 replies
    The Daily Caller ^ | February 4, 2016 | Michael Bastasch
    Environmentalist lawyers have been pushing a legal theory that would give the Environmental Protection Agency cover to regulate every facet of state energy policy - effectively eliminating states' authority to craft their own regulations. "Buried in the Clean Air Act is an extremely powerful mechanism that Daily Caller New Foundationeffectively gives EPA carte blanche to tell states to make drastic cuts to their emissions," Brian Potts, a partner at the law firm Foley & Lardner wrote in Politico Monday. "This provision, which can now be used thanks to the completion of the Paris climate deal, raises important questions about national...
  • Jeb Bush's Low Energy Live Webcast'

    02/07/2016 7:11:57 PM PST · by conservative98 · 15 replies
    Right Side Broadcasting ^ | February 7, 2016 | Right Side Broadcasting
    We cover Trump the most. Everybody knows that. But we can cover other candidates, too- even if we don't like them and think they're low energy. You must have not seen the title of this video when we were live streaming it. It was called Jeb Bush's Low Energy Live Webcast'. - Right Side Broadcasting 7 hours ago
  • Oil-rich Venezuela is now importing U.S. oil

    02/07/2016 6:36:37 PM PST · by doldrumsforgop · 36 replies
    cnn money ^ | 2/3/16 | Patrick Gillespie
    Venezuela has more oil than any other country on the planet. But it just bought a bunch of American crude. A ship carrying half a million barrels of oil that was pumped in the U.S. docked at a terminal owned by Venezuela last week, according to oil data research firm ClipperData. The shipment was sent to a facility located on the Dutch island of Curacao in the Caribbean. The fact that Venezuela is importing American oil is raising eyebrows because Venezuela has 298 billion barrels of proven oil reserves, according to the Energy Information Administration. That's more than Saudi Arabia,...
  • Exclusive: Iran wants euro payment for new and outstanding oil sales - source

    02/07/2016 9:36:26 AM PST · by BenLurkin · 22 replies
    rueters ^ | 02/05/2016 | Nidhi Verma
    Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month's sanctions relief. A source at state-owned National Iranian Oil Co (NIOC) told Reuters that Iran will charge in euros for its recently signed oil contracts with firms including French oil and gas major Total, Spanish refiner Cepsa and Litasco, the trading arm of Russia's Lukoil. "In our invoices we mention a clause that buyers of our oil...
  • THE JACKI DAILY Show! Listen live at 2PM Eastern!

    02/07/2016 10:16:40 AM PST · by RaceBannon · 1 replies
    The Jacki Daily Show ^ | 2/7/16 | The Jacki Daily Show
    THE JACKI DAILY Show! Listen live at 2PM Eastern! Now playing also on station KWEL in Midland-Odessa! The host of the Jacki Daily show has had an impressive career in energy, law, and politics.Most recently, Jacki served as General Counsel to an engineering firm specializing in energy, national security and environmental cleanup. Previously, she served many years as legal counsel on Capitol Hill to the Chairman of the Subcommittee on the Constitution and the former Ranking Member of the Commercial and Administrative Law Subcommittee, advising on the oversight of federal agencies. Prior to her career in Washington, she worked as...
  • The U.S. Could Switch to Mostly Renewable Energy, No Batteries Needed

    02/07/2016 8:37:18 AM PST · by Lorianne · 63 replies
    Smithsonian ^ | 25 January 2016 | Sarah Zielinski
    The United States could lower carbon emissions from electricity generation by as much as 78 percent without having to develop any new technologies or use costly batteries, a new study suggests. There’s a catch, though. The country would have to build a new national transmission network so that states could share energy.“Our idea was if we had a national ‘interstate highway for electrons’ we could move the power around as it was needed, and we could put the wind and solar plants in the very best places,” says study co-author Alexander MacDonald. Several years ago, MacDonald was curious about claims...
  • North Dakota governor orders cuts amid $1B budget shortfall

    02/07/2016 7:56:44 AM PST · by Lorianne · 5 replies
    Philly.com /AP ^ | 02 February 2016 | James MacPherson
    BISMARCK, N.D. - Gov. Jack Dalrymple on Monday ordered deep cuts to government agencies and a massive raid on state savings to make up for a more than $1 billion budget shortfall due to depressed crude prices and a drop in oil drilling. North Dakota had more than $2 billion in various reserve accounts just one year ago, but oil prices - a key contributor to the state's wealth - have taken a nosedive in the last year. The legislature's record-high $14.4 billion budget for the two years that began July 1 was built on oil prices and economic assumptions...
  • $100 Trillion Up in Smoke

    02/07/2016 7:52:26 AM PST · by Lorianne · 22 replies
    Mauldin Economics ^ | 06 February 2016 | John Mauldin
    If energy powers the world, then whoever owns that energy must have power over the world. That’s certainly been the case for the last century or two. Ownership of our primary energy source, crude oil, is what made billionaires of John D. Rockefeller, H.L. Hunt, and assorted Middle Eastern kings, emirs, and sheikhs. Oil in the ground is wealth only on paper – you may own that oil, but it earns you nothing until you recover and sell it. Yet paper wealth is still wealth. It goes on your balance sheet as an asset that you can sell. You can...
  • Hillary Clinton Says Banning Fossil Fuel Extraction on Public Lands a 'Done Deal'

    02/06/2016 10:18:17 PM PST · by Cincinatus' Wife · 41 replies
    Washington Free Beacon ^ | February 6, 2015 | Ali Meyer
    Hillary Clinton said that banning fossil fuel extraction on public lands is a 'done deal,' the Hill reported. After Thursday night's Democratic debate in New Hampshire, an activist with the green group 350 Action asked Clinton whether she would support banning hydraulic fracturing if she were elected. While Clinton said the president doesn't have the authority to do that, she did say that supporting a ban on fossil fuel extraction on public lands was a done deal. "President Obama's Interior Department in January said it would halt new leases for coal mining on federal land while it figures out how...
  • A guide to what Ted Cruz wants to abolish, bar or change

    01/18/2016 8:50:12 AM PST · by Isara · 69 replies
    Washington Post ^ | January 18, 2016 | Katie Zezima
    ...U.S. Embassy in Tel Aviv The U.S. Embassy in Israel is currently in Tel Aviv. Cruz wants to move it to Jerusalem, Israel's "once and eternal" capital.Commerce DepartmentIn a piece for the National Review, Cruz said shuttering the department would "close the congressional cookie jar" and promote free trade.Education DepartmentAnother standard line from Cruz: "U.S. Department of Education, which should be abolished." Cruz is a states' rights guy -- he wrote his college thesis on the 10th Amendment -- and wants to give control of schools to states or localities....Energy DepartmentCruz has said the country needs an "energy renaissance." .......
  • Backbone | Jeb Bush

    02/05/2016 10:34:01 PM PST · by ObamahatesPACoal · 34 replies
    Youtube ^ | Feb 3, 2016 | Jeb Bush
    Do you want a president who has a backbone?
  • Barbara Bush on Donald Trump: 'I'm sick of him'

    02/05/2016 5:49:52 PM PST · by ObamahatesPACoal · 82 replies
    KXLH ^ | Ashley Killough
    Jeb Bush has suggested in the past that his blunt, outspoken, 90-year-old mother has strong opinions about Donald Trump. Sitting next to the former first lady in a joint interview with CNN Special Correspondent Jamie Gangel, Bush cautioned his mom when she was asked what she really thinks about the real estate titan. "Be careful," Bush murmured to his mom. Barbara Bush initially declined to show her true feelings about Trump, the man who's been tearing into her son for more than six months as someone who's "dumb as a rock" and "low energy." But then she changed her mind....
  • Obama to propose $10-a-barrel oil tax

    02/05/2016 4:28:38 PM PST · by 2ndDivisionVet · 46 replies
    The Politico ^ | February 4, 2016 | Michael Grunwald
    President Barack Obama is about to unveil an ambitious plan for a "21st century clean transportation system." And he hopes to fund it with a tax on oil. Obama aides told POLITICO that when he releases his final budget request next week, the president will propose more than $300 billion worth of investments over the next decade in mass transit, high-speed rail, self-driving cars, and other transportation approaches designed to reduce carbon emissions and congestion. To pay for it all, Obama will call for a $10 "fee" on every barrel of oil, a surcharge that would be paid by oil...
  • Ted Cruz's Stunning Victory Over Iowa's Ethanol Cartel

    02/05/2016 1:30:16 PM PST · by BeadCounter · 13 replies
    Reason ^ | Feb. 5, 2016 | Shikha Dalmia
    If Donald Trump is the Tony Soprano of American politics, Ted Cruz is a less-affable version of Mr. Haney from Green Acres (Ok - not quite, but sort of! Do feel free to say, H&R readers, which movie character is a better fit with Cruz). But the only thing cleverer than Cruz's impression of Inigo Montoya in Princess Bride (and not the least because it irritates Billy Crystal and the insufferably self-righteous Mandy Patinkin so much) is the campaign strategy he devised in Iowa to defeat the ethanol cartel and win the primary, I note in my column at The...
  • Utah files lawsuit claiming feds' sage grouse conservation strategy is unlawful

    02/04/2016 7:02:30 PM PST · by george76 · 23 replies
    Deseret News ^ | Feb. 4 2016 | Ben Lockhart
    The Utah Attorney General's Office filed a lawsuit Thursday against the Department of the Interior and Department of Agriculture, claiming the agencies' strategy to disallow new mining on or near greater sage grouse habitats is a breach of "numerous federal laws and regulations." The lawsuit in U.S. District Court seeks an order voiding the federal government's land-use plan amendments submitted last year that would directly prohibit new hard rock mining on 233,300 acres in Utah. "The state of Utah claims that the 2015 federal plan amendments disregarded the hallmark of federal land management -- multiple use and sustained yield --...
  • Mining on 10 Million Acres in Six States Impacted by BLMs Proposed Withdrawal ( sage-grouse )

    10/10/2015 6:09:16 PM PDT · by george76 · 17 replies
    Western Mining Alliance ^ | October 9, 2015 | mucker
    On September 24, 2015, the federal Bureau of Land Management (BLM) published a Notice of Proposed Withdrawal (BLM notice), proposing to withdraw from mineral location and entry federal lands identified as sagebrush focal areas in Idaho, Montana, Nevada, Oregon, Utah, and Wyoming. The BLM notice commences a two-year temporary segregation period, prohibiting location and entry of new mining claims on BLM and U.S. Forest Service lands in these sagebrush focal areas. If the BLM decides to withdraw the area at the end of the segregation period, the withdrawal will last up to 20 years, but could be extended in the...
  • Why U.S. Shale Is Not Capitulating Yet

    02/04/2016 3:39:20 PM PST · by bananaman22 · 16 replies
    Oilprice.com ^ | 04-02-2016 | zero
    According to a report by the Bloomberg Intelligence analysts William Foiles and Andrew Cosgrove, Saudi Arabia may have its work cut out for it as it will be far harder to kill many U.S. E&Ps than analysts originally thought. The reason: a break-even model for the Permian Basin and Eagle Ford shows that oil production across five plays in Texas and New Mexico may remain profitable even when WTI prices fall below $30 a barrel, according to a 55-variable Bloomberg Intelligence model for horizontal oil wells. The Eagle Ford's DeWitt County has the lowest break-even, at $22.52, followed by Reeves...
  • Obama to propose $10 per barrel fee on oil

    02/04/2016 12:41:35 PM PST · by GreaterSwiss · 181 replies
    CNBC ^ | 2/4/2016 | Jacob Pramuk
    President Barack Obama will propose a $10 per barrel charge on oil to fund clean transportation projects as part of his final budget request next week, the White House said Thursday. The proposal would have difficulty clearing the Republican-controlled Congress. Oil companies would pay the fee, which would be gradually introduced over five years. The government would use the proceeds to fund high-speed railways, autonomous cars and other travel systems. "By placing a fee on oil, the President's plan creates a clear incentive for private sector innovation to reduce our reliance on oil and at the same time invests in...
  • Oil bears closing of $600 million triple-short fund bet seen adding to tumult

    02/04/2016 11:48:08 AM PST · by Lorianne · 5 replies
    Reuters ^ | 04 February 2016 | Anna Driver
    This week's roller-coaster ride in the global crude oil market was likely fueled in part by the sudden liquidation of a $600 million leveraged fund bet on falling prices, market sources said on Wednesday. Unknown investors in the VelocityShares 3x Inverse Crude Oil Exchange Traded Note (ETN) - which offers the ability to make a bearish bet on prices magnified threefold, with gut-churning ups and downs - bailed out early this week after jumping into the fund in January, ETN data show. Some 1.8 million shares worth more than $602 million were redeemed on Tuesday, the largest outflow from the...
  • Closing In: Russia, Iran, Assad "Encircle" Syria's Largest City As Peace Talks Collapse In Geneva

    02/04/2016 10:06:01 AM PST · by Nachum · 9 replies
    zero hedge ^ | 2/4/16 | tyler durden
    Back in October, we previewed the “promised” battle for Aleppo, Syria’s largest city prior to the war. By the time Russia began constructing an air base at Latakia, the city - which is immensely important both from a strategic and psychological perspective - was controlled by a hodgepodge of rebels and militants including al-Qaeda, the Free Syrian Army, and ISIS. As we noted four months ago, if Russia and Hezbollah manage to recapture the city, it would effectively restore the Assad government in Syria even if the east of the country is still controlled by Islamic State. In many ways,...
  • Shell shares up as it confirms 10,000 job cuts and falling profits

    02/04/2016 11:36:47 AM PST · by Lorianne · 1 replies
    BBC News ^ | 04 February 2016
    Royal Dutch Shell shares rose after it confirmed it would cut 10,000 jobs and a sharp fall in annual profits. Shell extended gains to 7% as it said it made $1.8bn (£1.23bn) for the fourth quarter, compared with a $4.2bn profit for the same period the year before. Full-year earnings have seen their steepest fall in 13 years, from $19bn in 2014 to $3.8bn last year. Royal Dutch Shell's chief executive, Ben van Beurden, said the company was entering a new phase: "The completion of the BG transaction, which we are expecting in a matter of weeks, marks the start...
  • Cadillac Is Killing Its Pricey ELR Plug-In Hybrid

    02/04/2016 1:36:32 AM PST · by Berlin_Freeper · 22 replies
    fortune.com ^ | February 3, 2016 | Tom Huddleston, Jr.
    Customers called it “the $75,999 Volt.” Cadillac has reportedly opted to cancel any plans to continue producing its ELR plug-in hybrid coupe after watching the luxury hybrid’s sales fall last year. According to Automotive News, Cadillac president Johan de Nysschen confirmed last week that the General Motors GM -2.46% division does not plan a follow-up to the first generation of ELRs that launched at the end of 2013. The trade publication noted that ELR sales dropped 22% last year to only 1,024 vehicles, as dealers complained about the car’s high price tag of nearly $76,000 (with shipping).
  • Cattle Deaths Spark Renewed Oil Drilling Controversy

    02/04/2016 8:06:56 AM PST · by bananaman22 · 19 replies
    Oilprice.com ^ | 04-02-2016 | Juli
    Following the mysterious death of seven cattle near an oil field in Kansas, public health authorities are investigating whether oil drilling could be the cause. In late December, seven dead cattle were found near an oil field in the Cimarron National Grassland, Kansas, and authorities believe that cows inhaled something toxic, prompting them to deny public access to the 2,500-acre Cimarron National Grassland until at least May. Six of the cattle were discovered together in a low-lying area, while a seventh was found a short distance away, with local veterinarians identifying the ingestion or inhalation of something toxic leading to...
  • <b> Same old, same old with Iran"hostages"</b>

    02/04/2016 12:40:29 AM PST · by Keyvan Salami · 1 replies
    keyvan Salami
    The so-called "Implementation Day" in the nuclear agreement sealed between the international community and Iran had a number of side-effects, with the release of four Iranian-Americans signaling the most important. These four innocent people were swapped for 7 Iranian regime elements held in detention in America. While this made a lot of noise in the United States and raised major criticism against the Obama administration, it is actually nothing new to those familiar with Iran's "hostage industry". The names of these four prisoners released on Saturday are Christian convert Pastor Saeed Abedini, former U.S. marine interpreter Amir Hekmati, Washington...
  • How Cruz Crushed Ethanol - "Hot d*mn!" a gentleman shouted from the back of the room.

    02/03/2016 11:23:25 PM PST · by Cincinatus' Wife · 95 replies
    February 3, 2016 | Eliana Johnson & Brendan Bordelon
    "There's an Iowa way of doing this, and the rest of the candidates did it the Iowa way," Majda Sarkic, a spokeswoman for the pro-ethanol group America's Renewable Future, told National Review days before the Iowa caucuses. All of the candidates except Ted Cruz, that is. In a highly unusual move for a man who sought, and ultimately won, the support of Iowa caucus-goers, Cruz didn't court, kowtow to, or bow down before King Corn. From the time they arrived in the Senate eyeing a presidential run three years ago, he and his advisers have known that his opposition to...
  • Iraq's about to plunge off a fiscal cliff — and the consequences could be dire

    02/03/2016 1:21:55 PM PST · by Lorianne · 14 replies
    Business Insider ^ | 02 February 2016 | Armin Rosen
    According to a Monday AFP report, Iraq is now selling oil at half of the country's apparent fiscal break-even price. Right now, Iraq is selling its oil at around $22 a barrel, half of what it would need to fetch for the country to be able to fund the upcoming year of government budgetary obligations, the report said.
  • Fundamentals For Oil Still Bearish, But Sentiment Is Shifting

    02/03/2016 1:11:36 PM PST · by bananaman22 · 4 replies
    Oilprice.com ^ | 03-02-2016 | esmionoestuyo
    Oil speculators spent the latter half of 2015 with an incredibly pessimistic view of the trajectory for oil prices. Speculators piled into short positions, pushing net-shorts to multiyear highs. But speculators are at a bit of a crossroads at this point. With oil down to $30 and below, a growing number of hedge funds and other major investors are starting to wonder whether or not the selloff has gone too far. To be sure, oil markets are still suffering from too much supply, but with so much production around the world unprofitable at today’s prices, a rally will have to...
  • Oil crash could kill Exxon's perfect AAA rating

    02/03/2016 12:57:04 PM PST · by Lorianne · 3 replies
    CNN ^ | 02 February 2016 | Matt Egan
    Only three American companies can brag of a higher credit rating than the United States government: ExxonMobil, Microsoft and Johnson & Johnson. Soon that elite group could shrink to just two. Standard & Poor's threatened on Tuesday to strip Exxon (XOM) of its perfect AAA credit rating. The ratings company placed Exxon on a negative credit watch, warning the oil giant's credit measures will remain "weak" through 2018 due to the dramatic plunge in oil prices. The world's largest publicly-traded oil company, Exxon could lose its AAA status within the next 90 days, S&P said. In addition to Exxon, S&P...
  • Dow jumps 150 as oil surges 8 pct

    02/03/2016 11:48:47 AM PST · by Citizen Zed · 10 replies
    cnbc ^ | 2-3-2016 | Fred Imbert
    U.S. stocks attempted a massive comeback on Wednesday as oil prices recovered. West Texas Intermediate gained about 8 percent higher in choppy trade after the Energy Information Administration said U.S. inventories rose by 7.8 million barrels last week. Crude prices briefly erased gains following the data release, but surged on a weaker dollar. The dollar traded 1.77 percent lower against a basket of currencies, with the euro gaining 1.5 percent against the greenback, as weak U.S. services data suggested another Federal Reserve rate hike seems more unlikely. "I ... believe oil will dictate stock prices," said Peter Cardillo, chief market...
  • GM Finally Puts Cadillac ELR Out Of Its Misery

    02/03/2016 9:47:36 AM PST · by jazusamo · 26 replies
    NLPC ^ | February 3, 2016 | Mark Modica
    Here's one that wasn't hard to see coming. General Motors has announced that it is ending production of the Cadillac ELR , which was essentially a gussied upChevy Volt at twice the price. You can call this one a mercy killing as the overpriced, pseudo-green, government-subsidized vehicle was doomed for failure as low sales figures reflected the lack of value offered by the vehicle. That failure was predicted here back in December of 2013 when the ELR was rolled out. As with the sales-challenged Chevy Volt, most of the media bought into the Cadillac ELR hype, calling it a...
  • Tesla's worst nightmare ... cheap gas

    02/03/2016 9:33:06 AM PST · by Signalman · 40 replies
    Tesla (TSLA) stock is down more than 25% so far this year. It hit its lowest level since February 2014 on Wednesday. Wall Street has grown increasingly skeptical about the company in recent weeks. Adam Hull, an analyst with European investment bank Berenberg, initiated coverage on Tesla Wednesday with a sell rating. Pacific Crest analyst Brad Erickson said in a report Tuesday that investors should "avoid" Tesla stock. He cited concerns about sluggish demand for the company's new Model X crossover. And even longtime Tesla bull Adam Jonas of Morgan Stanley, is suddenly feeling a little less optimistic about the...
  • When Obama carried out his Solyndra scam, he broke the same law that Martha Stewart went to prison

    02/03/2016 8:22:06 AM PST · by grundle · 18 replies
    wordpress ^ | September 8, 2012 | Dan from Squirrel Hill
    When Obama carried out his Solyndra con game, he broke the same law that Martha Stewart went to prison forbreaking In 2009 the Obama administration gave $535 million to Solyndra, claiming that it would create 4,000 new jobs. However, instead of creating those 4,000 new jobs, the company went bankrupt. It was later revealed that the company’s shareholders and executives had made substantial donations to Obama’s campaign, that the company had spent a large sum of money on lobbying, and that Solyndra executives had had many meetings with White House officials. It was also revealed that the Obama administration had...
  • BP to cut Alaska workforce by 13%

    02/03/2016 5:41:33 AM PST · by thackney · 8 replies
    Alaska Journal of Commerce ^ | 01/13/2016 | Elwood Brehmer
    BP is cutting 4,000 jobs worldwide and some of those reductions will be in Alaska. An intra-company email obtained by the Journal sent to BP Alaska employees Jan. 12 states that the company plans to reduce its total in state workforce by 13 percent. All employees should know their status by early spring and the majority of layoffs will be conducted by mid-year, according to the email. BP directly employs about 2,100 people and has another 6,000 contract workers in Alaska, based on the company's 2015 Alaska Hire report. The 13 percent reduction will come from the company's direct employees,...
  • Islamic State terrorists threaten oil wealth in Libya

    02/03/2016 5:32:47 AM PST · by thackney · 1 replies
    Trib Live ^ | Feb. 2, 2016 | WIRE REPORTS
    The Islamic State threatens to seize Libyan oil refineries -- and gain a major new revenue source -- as the terror group expands its presence in the war-torn country. Islamic State fighters have pushed toward critical port facilities near their Libyan stronghold of Sirte, according to a senior State Department official who was not authorized to talk publicly about the issue and asked not to be named. Secretary of State John Kerry said Tuesday that the United States and its allies have made progress against the Islamic State in parts of Iraq and Syria but are concerned the terrorist group...