U.S. Senator Ted Cruz (R-TX) addresses a news conference on Capitol Hill in Washington, October 6, 2021. Evelyn Hockstein | Reuters AUSTIN, TEXAS – The Texas power grid is struggling with fluctuating energy prices and sporadic service, but the state’s growing bitcoin mining community believes it can help fix it. Republican Sen. Ted Cruz agrees.
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Oil slid for a sixth straight week, marking the longest stretch of weekly declines since 2018, as the omicron variant jolts markets and OPEC+ continues to hike supply.  West Texas Intermediate crude futures fell 2.8% this week. The spread of the omicron variant has investors concerned about any potential hit to demand as the U.S.
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By Joey Klender Posted on December 3, 2021 The $12,500 electric vehicle tax credit proposed in President Joe Biden’s “Build Back Better” plan is being labeled as “discriminatory” by Mexican Economy Minister Tatiana Clouthier, who said the country is analyzing legal recourse and other actions, including potential tariffs against the United States. Clouthier claims the
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In this article XLE CVS Stocks could be in for an unusually difficult December, Joule Financial’s Quint Tatro says. Though the market typically rises in the final month of the year — a phenomenon sometimes labeled the “Santa Claus rally” — there are cracks forming that threaten the historical pattern, he told CNBC’s “Trading Nation”
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Malaysian oil and gas giant Petronas has awarded two contracts as part of an international dual Front End Engineering Design (FEED) design competition for a nearshore liquefied natural gas (LNG) project in Sabah. Petronas stated that the first contract was awarded to a consortium of JGC Corporation and Samsung Heavy Industries while the other was
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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
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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
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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
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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
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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
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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
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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
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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
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