A logo glows in front of the new corporate headquarters of the Houston-based energy trading firm Enron November 29, 2001 in Houston, Texas. James Nielsen | Getty Images The bankruptcy of Enron on Dec. 2, 2001, spawned an epic scandal, nearly two dozen criminal convictions and sweeping government reforms. Enron became an enduring symbol of
Oil rigs work on platforms in Gaoyu Lake in Gaoyou in east China’s Jiangsu province Friday, Sept. 17, 2021. Barcroft Media | Getty Images OPEC and non-OPEC oil producers, an influential group known as OPEC+, will meet on Thursday to decide on the next phase of output policy. The energy alliance will convene via videoconference
By Joey Klender Posted on December 2, 2021 Tesla is partnering with Exco Technologies Limited, a Canadian company that specializes in designing and developing dies, molds, assemblies, and casting for automotive companies, the company’s CEO confirmed on an Earnings Call earlier today. Tesla has long had a focus on manufacturing efficiencies, and arguably the most
Tesla is having issues securing solar panel supply amid the global supply crisis. The issues are starting to lead to delays on some customer projects. Last month, we reported on early signs that supply chain issues are affecting Tesla’s solar panel business. Now things have escalated to the point that the company is warning some
The sudden collapse of Enron, culminating in what was then the largest bankruptcy filing in U.S. history on Dec. 2, 2001, changed thousands of lives, damaged investor confidence to the core and made household names out of previously obscure businesspeople. Many were dragged in front of congressional committees and berated in seemingly endless hearings. Some were
South Africans contending with power shortages, record-high unemployment and a new coronavirus variant finally got a sliver of good news. While the energy department announced on Nov. 29 that the gasoline price would jump by 81 cents (5 U.S. cents) a liter this month, it said Wednesday that it had erred in its calculations and
In this article PCG PG&E Corp.’s Diablo Canyon plant in California. (Joe Johnston/San Luis Obispo Tribune/Tribune News Service via Getty Images) San Luis Obispo Tribune | Tribune News Service | Getty Images Scientists from the Massachusetts Institute of Technology and Stanford University have published a 113-page report outlining ways to retrofit California’s Diablo Canyon nuclear
The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria. Ramzi Boudina | Reuters A group of some of the world’s most powerful oil producers is meeting Wednesday to discuss how much of an impact the new omicron Covid variant is likely
By Joey Klender Posted on December 1, 2021 Tesla is continuing to solidify itself in the pole position in Norway. New figures from the Norweigian Information Council for Road Traffic (OFV) show the Tesla Model Y and Tesla Model 3 were the country’s two best-selling vehicles in November, making way for Tesla to become the
In this article @CL.1 XOM Darren Woods, Chairman and CEO, Exxon Mobil. Katie Kramer | CNBC Exxon said Wednesday that President Joe Biden’s call to investigate “potentially illegal conduct” within the oil and gas industry is unwarranted. “If you go back in time in history, every time we see the supply and demand imbalances get
TotalEnergies has announced that it and its U.S. partner Clean Energy are launching the construction of their first biomethane production unit, in Friona, Texas. The biomethane will be used as an alternative fuel for mobility, according to TotalEnergies, which outlined that this would contribute to decarbonizing road transportation. By processing cow manure and substituting fossil
Wind turbines and solar panels in Kayseri, Turkey. temizyurek | E+ | Getty Images The world is set to add nearly 290 gigawatts of renewable power capacity this year, according to the International Energy Agency, with the Paris-based organization expecting 2021 to “set a fresh all-time record for new installations.” Published on Wednesday, the IEA’s
A worker uses a mobile phone torchlight to illuminate his cutting space at the fish market, where portable emergency lighting runs due to a power cut, in Beirut, Lebanon, on Wednesday, Sept. 8, 2021. Francesca Volpi | Bloomberg | Getty Images Natural gas from Egypt may start flowing to Lebanon within two or three months,
By Eric Ralph Posted on November 30, 2021 In a new leaked email, SpaceX CEO Elon Musk says that the company could go bankrupt if, by the end of 2022, it can’t achieve Starship and Starlink milestones that are by all practical appearances out of reach. The news – first broken by SpaceExplored – comes
Tesla’s approach to using giant casting machines, nicknamed Giga Press, to make car bodies with just a few massive casted parts is catching on in the auto industry. A Tesla supplier says that it is working with about half a dozen other automakers taking the same approach. Over the last few years, Tesla has been
In this article @NG.1 A liquid natural gas (LNG) storage silo at the LNG terminal, operated by LNG Croatia LLC, in Krk, Croatia, on Monday, Jan. 25, 2021. Petar Santini | Bloomberg | Getty Images U.S. natural gas futures slid Tuesday to the lowest level in more than two months as warmer-than-expected winter forecasts sent
British Columbia extended a state of emergency and fuel rationing until mid-December as the western Canadian province braces for more heavy rain following some of its worst floods on record. Parts of British Columbia are still struggling with damage from floods and landslides that closed highways and railways two weeks ago, sharply reducing the flow
In this article 7201.T-JP An electric concept car from Nissan is displayed at the company’s showroom in Yokohama, Japan, on November 29, 2021. KAZUHIRO NOGI | AFP | Getty Images Japanese automotive giant Nissan is to invest 2 trillion yen (around $17.6 billion) over the next five years to speed up the electrification of its
In this article @LCO.1 @CL.1 Oil derrick pumps operate at the Inglewood Oil Field in Culver City, California, on Sunday, July 11, 2021. Kyle Grillot | Bloomberg | Getty Images Oil prices jumped on Monday as traders bet that Friday’s sharp sell-off, prompted by fears that the new omicron Covid variant will curb demand for
By Joey Klender Posted on November 29, 2021 The Michigan branch of LG Energy Solution has confirmed a $1.36 billion investment into an electric vehicle battery production facility in North America by 2024, according to Korean regulatory filings released on Monday. The $1.36 billion in funding will be used to expand its solely owned annual
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