The prolonged slump in crude oil prices has forced thousands of people out of work across the country. Laid-off energy workers in Houston, home to some of the world’s largest oil and gas companies, are facing difficult choices about their future in an industry punctuated by booms and busts.
U.S. crude rallied for a third consecutive day Monday, posting its best three-day gain in 25 years, but traders may not have seen the last of $30 oil, Anthony Grisanti, president of GRZ Energy, said.
On Monday morning President Obama headed to Alaska — the front lines of climate change — for a trip the White House is calling “a spotlight on what Alaskans in particular have come to know: Climate change is one of the biggest threats we face, it is being driven by human activity, and it is disrupting Americans’ lives right now.” Problem is, those words fall flat when compared with Obama’s mixed record on climate.
Tesla Motors recently made news by installing its 500th Supercharger electric-vehicle charging station worldwide, according to Business Finance News. But that’s old news now. Because Tesla, as of late Friday, had upped its total count to 502 stations, according to its Supercharger website.
While not quite as cheap and plentiful as water, gas is sufficiently cheap and plentiful that American industry squanders it on a regular basis.
If, with their own money, Tesla and its customers want to revel in electric cars, that’s wonderful. Nobody should object. But why should taxpayers subsidize their hobby as if some vital public purpose is being served? And why should Consumer Reports prostitute itself in its latest review of the Tesla Model S P85D?
Starting Monday, President Obama is going to greater lengths than any president before him has — at least in terms of air miles — to circumvent the central conundrum that several presidents and countless environmentalists before him have faced: by the time the effects of global warming are obvious to every American, and every global citizen for that matter, it will be too late to act.
Warren Buffett’s Berkshire Hathaway Inc. sees a green light at the intersection of low oil prices and record driving.
U.S. crude rose 6 percent on Friday, notching its first weekly gain in two months, after a rally in gasoline from refinery outages and concerns about strife in Yemen fed a second frenzied day of short-covering in oil.
Aug. 27, 1859: Edwin Drake strikes oil in Pennsylvania with the first commercial well in the U.S.
