Oil prices fall for a second day on concerns for expected recession

Oil prices fall for a second day on concerns for expected recession

Model of Oil barrels are seen in front of rising stock graph in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Sept 26 (Reuters) – Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected global recession sparked by … Read more

Brent crude slides below $85 a barrel as dollar surges

Brent crude slides below  a barrel as dollar surges

An aerial view of Phillips 66 oil refinery is seen in Linden, New Jersey, United States. Tayfun Cosku | Anadolu Agency | Getty Images Brent crude fell below $85 a barrel Monday, as recession fears weighed and the U.S. dollar surged. Brent futures for November settlement were trading down over 1% around $84.92 at 8 … Read more

Sen Joe Manchin energy reform bill could snarl government funding

Sen Joe Manchin energy reform bill could snarl government funding

Senate Majority Leader Chuck Schumer is expected to tee up a vote this week on a short-term funding ​bill to avert a government shutdown — but the process could hit a roadblock in the form of a proposal from Sen. Joe Manchin to speed up energy projects permits. ​Schumer (D-NY) ​is likely to call for … Read more

California’s EV Push Hinges on More Power—and Help From Drivers

California’s EV Push Hinges on More Power—and Help From Drivers

California aims to add millions of new electric vehicles in the coming years. Charging them without impairing an aging grid will require more power generation and help from EV drivers. This summer, the state faced the threat of rolling blackouts during an extended heat wave and asked people to avoid charging and using major appliances … Read more

Hochul’s green power scheme may raise New Yorkers’ power costs

Hochul’s green power scheme may raise New Yorkers’ power costs

The green-energy movement has been very good for Wall Street, and not so good for consumers. Energy prices remain stubbornly high because environmentalists control vast swaths of government on both the federal and state levels mandating inefficient windmills, solar panels and other costly boondoggles. Meanwhile, the Wall Street cash register keeps ringing. Money managers sell … Read more

As EVs Become More Common, Nighttime Electricity Will Get More Expensive

As EVs Become More Common, Nighttime Electricity Will Get More Expensive

A driver charges his electric vehicle at a charging station as the California Independent System Operator announced a statewide electricity Flex Alert urging conservation to avoid blackouts in Monterey Park, California on August 31, 2022. – Californians were told August 31, 2022 not to charge their electric vehicles during peak hours, just days after the … Read more

Could a national energy transition authority allay the fears of communities reliant on fossil fuel industries?

Could a national energy transition authority allay the fears of communities reliant on fossil fuel industries?

The transition to net zero will be one of Australia’s biggest energy transformations and, for communities dependent on fossil fuel industries, there’s a lot of anxiety and uncertainty about the future. Unions and the Business Council of Australia have joined a growing chorus of voices calling for a national Energy Transition Authority to plan and … Read more

Energy Earnings Set To Ease, But Oilfield Services Remain Strong

Energy Earnings Set To Ease, But Oilfield Services Remain Strong

The energy sector has enjoyed bumper profits in the current year, with Big Oil companies setting records right, left and center. ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX) and Shell (NYSE: SHEL) together brought in $46 billion in earnings in the second quarter, with all three setting new records for quarterly earnings. Overall, high commodity prices … Read more

London Banks Prepare For Possible Blackouts

London Banks Prepare For Possible Blackouts

Banking and financial firms in London are closely studying and updating contingency electricity supply plans to protect themselves and their customers in case power outages hit the UK this winter. Some banks are discussing the idea of again encouraging the work-from-home policies from previous Covid lockdowns or using offsite locations, representatives of the trade association … Read more

UK government dishes out tax cuts as country braces for recession

UK government dishes out tax cuts as country braces for recession

U.K. Chancellor Kwasi Kwarteng outside 10 Downing Street. Britain will cap the cost of electricity and gas for businesses. Rob Pinney | Getty Images News | Getty Images LONDON — The new U.K. government announced a sweeping program of tax cuts and investment incentives Friday, as Prime Minister Liz Truss seeks to boost the country’s … Read more