Solar power capacity in the U.S. has jumped 20-fold since 2008 as companies including Apple Inc. use it to reduce their carbon footprint. Rooftop panels are sprouting on homes from suburban New York to Phoenix, driven by suppliers such as SolarCity Corp. and NRG Energy Inc.
In a report released Friday, Standard & Poor’s Rating Service said it has downgraded credit ratings for oil companies 26 times this year and has only issued three upgrades. And its gloomy assessments will likely continue to stay well ahead of positive ones over the next year, especially if capital market investors and lenders pull back in coming months.
The Bakken has seen a dramatic decline in horizontal rigs since prices collapsed last year, but the play’s sweet spots remain attractive, especially as oil prices begin to inch upward, a new analysis finds.
A rebound in oil prices that bottomed near $44 a barrel in March has provided some relief to stronger companies that have been able to compensate with cost cuts and more efficient operations. For many smaller, cash-strapped producers, current prices of almost $60 still aren’t enough to make ends meet compared to the $100-plus prices seen during the boom days.
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