Commentary: The Weak Foundation for a Carbon Tax

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The late writer, Marty Rubin, once observed, “unlike wine, a bad idea does not improve with age.” That is certainly true with the carbon tax. Not only does it not improve, it is like a zombie that keeps coming back from the dead. A former Administrator of the Energy Information Administration, Jay Hakes, has just […]
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(Getty Images)

Goldman predicts oil to remain below $40 through mid-2016

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Analysts believe the two-day bounce isn’t likely the start of big, lasting reversal.
Schlumberger CEO Paal Kibsgaard (credit: Schlumberger)

Schlumberger CEO “optimistic” job cuts are over after 34,000 slashed

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While Schlumberger’s CEO said he wants the industry to rebound soon, he said the longer the downturn lasts “the stronger we will emerge relative to our competition.”
(AP Photo/Pat Sullivan, File)

Schlumberger cut thousands of jobs in fourth quarter on $1 billion loss

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The oil crash has triggered the largest job cuts in oil field services, and Schlumberger has now eliminated about 34,000 jobs globally — a more than 25 percent reduction since its peak of nearly 130,000 jobs in 2014.
Former Vice President Dick Cheney speaks in Washington, Sept. 10, 2014. Cheney, who was a sponsor of the brutal interrogation tactics used on detainees suspected of being linked to al-Qaida, on Sunday escalated his counterattack on the Senate Intelligence Committee's report, which found that the CIA's now-defunct program violated American values and produced little useful intelligence. (Doug Mills/ The New York Times)

Cheney chides Obama on fossil fuel stance, lifting Iran sanctions

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Cheney said the U.S. should get more involved with energy diplomacy to weaken its enemies
A group of men have an early breakfast at Rosita's Restaurant in Carrizo Springs.  The small south Texas town bustles around 4 a.m. with area oil related workers. Dimmit County Regional Hospital has seen a dramatic increase in trauma cases directly associated from the oil and gas industry in the Eagle Ford Shale.  Wednesday, Feb. 19, 2014. (Bob Owen/San Antonio Express News)

U.S. Steel may cut nearly 700 Texas jobs

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U.S. Steel is considering temporarily mothballing the pipe-making plant during the ongoing oil and gas slump. The facility is located in northeastern Texas in Morris County, which has a population of less than 13,000 people.
The Securities and Exchange commission charged a Houston oil-and-gas exploration and production company with making false claims about its oil reserves.

SEC looking into Flotek

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Flotek Industries, a supplier of equipment and materials for hydraulic fracking, said the U.S. Securities and Exchange Commission is investigating its FracMax software and the efficacy of one of the company’s chemicals.

OPEC sees stronger declines in North American oil production this year

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To celebrate the birth of AA Milne (some 134 years ago), today is national Winnie the Pooh day. Once again, though, the crude complex has gone off script…acting like Eeyore instead. Hence crude prices are once again looking downbeat and depressed, wallowing in twenty-dollardom. In all fairness, it has good reason to be looking down. […]
Categories: Crude oil, General
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dollar falling graph

Brent oil falls on Iran oil expectations

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Iran will probably start increasing exports by selling barrels it stockpiled on tankers in the Persian Gulf in anticipation of the deal.
Phillips 66 Sweeny refinery.  (Ryan Holeywell/Houston Chronicle)

Buffett’s firm buys another 1.6 million Phillips 66 shares

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Berkshire filed documents with the Securities and Exchange Commission on Friday that disclosed purchases of another 1.6 million Phillips 66 shares.