A woman slides her credit card to buy gasoline in San Francisco, Calif. (David Paul Morris/Bloomberg)

Consumers are spending a lot more of their gasoline savings than estimated, report says

JPMC said its data showed that the average American household spent a lot more of the $700 they got back in gasoline savings than economists previously reported.
(AP Photo/Patrick Semansky)

Offshore driller Ocean Rig warns of plans to pare back fleet

Ocean Rig, a Cyprus-based company that specializes in projects in ultra-deepwater and other harsh environments, said it expects to cold stack one of its drillships, will consider scrapping two semi-submersible oil rigs, and may be forced to cold stack yet another drillship pending a potential unexpected contract cancellation.
Constellation Energy's coal-fired Brandon Shores power plant in Anne Arundel County, Md., Jan 15, 2012. (Shannon Jensen/The New York Times)

Entergy sells natural gas power plant for nearly $500 million

Entergy, which services much of the Greater Houston region through its Entergy Texas subsidiary, said it bought the 13-year-old Rhode Island State Energy Center power plant for $346 million in 2011 and wants to free up more cash for other opportunities.
(AP Photo/Oded Balilty, File)

NRDC: U.S. has made “unprecedented” shift to renewables

While natural gas plants are considered more environmentally friendly than their coal counterparts, the report notes natural gas production is linked to the emission of methane — the main component of natural gas — which is a “potent climate change pollutant.”
In this March 25, 2014 photo, a worker oils a pump during a hydraulic fracturing operation at an Encana Corp. well pad near Mead, Colo. The first experimental use of hydraulic fracturing was in 1947, and more than 1 million U.S. oil and oil wells have been fracked since, according to the American Petroleum Institute. The National Petroleum Council estimates that up to 80 percent of natural oil wells drilled in the next decade will require hydraulic fracturing. (AP Photo/Brennan Linsley)

Encana to sell Colorado fields for $900 million

The Canadian oil company drills for hydrocarbons primarily in Texas and Alberta shale formations. In Colorado, it produces a daily haul of 14,800 barrels of oil and 52 million cubic feet of natural gas on the 51,000 net acres it plans to sell.
The EPA heard radically different views as it opened public hearings in Denver on its proposal to slash allowable methane emissions from oil and gas production. (Lucas Schifres/Bloomberg)

Gas power passes coal for the second time ever

The amount of electricity generated from natural gas surpassed the share of coal-fired production in July for just the second time ever — the first time being in April.
Current, as GE calls the new business, will increase annual sales to about $5 billion in five years from its start at $1 billion. (AP Photo/Tony Dejak, file)

GE splits lighting business to form LED unit

CEO Jeff Immelt is focusing on building up the manufacturing units, which make products ranging from jet engines to oi field equipment, and shrinking the GE Capital lending arm.
Categories: Electricity

Cheniere Energy prepares Sabine Pass plant for LNG production

Last week, Sabine Pass LNG began bringing in small amounts of natural gas and burning some off, a process called flaring, providing early signs that the first phase of the project is nearing the finish line, according to energy research firm Genscape, which has been monitoring plant activity using a network of infrared monitors.
WASHINGTON, DC - OCTOBER 06:  Energy Secretary Ernest Moniz testifies before the Senate Energy and Natural Resources Committee about the potential modernization of the Strategic Petroleum Reserve and related energy security issues in the Dirksen Senate Office Building on Capitol Hill October 6, 2015 in Washington, DC. Created in the wake of the 1973 energy crisis, the reserve is supposed to make sure the U.S. economy will not be hurt by an embargo or sharp price spike and Moniz estimates that $2 billion will be needed for distribution work and other technical upgrades.  (Photo by Chip Somodevilla/Getty Images)

Moniz: Strategic Petroleum Reserve is too valuable to sell its stockpiles

Forty years after the U.S. created an emergency crude stockpile, it needs modernization to swiftly respond to oil supply disruptions, Energy Secretary Ernest Moniz told senators.
Exterran Holdings CEO Brad Childers poses for a portrait in Houston.

Delayed Exterran spin-off slated for late 2015

The new time table is scheduled to complete the Exterran reorganization by the end of 2015. Exterran Holdings will spin off its fabrication and international compression businesses — about 7,000 of its total 10,000 workers — into a new company named Exterran Corp. that would trade under the “EXTN” stock symbol in the New York Stock Exchange.