This is the third major job reduction by GE’s Lufkin Industries this year and the second and its Foundry plant, which is effectively being closed through this mass layoff, the company said in a letter to the Texas Workforce Commission.
In a bitterly contested case of neighbor against neighbor over access to the spoils of the Eagle Ford Shale, a court ruling has strengthened the hand of county officials seeking to maintain control of local roads.
Hurricanes no longer pose as much of a threat to domestic production as they once did since the shale boom reduced the United States’ reliance on oil and gas extracted offshore, according to a new federal analysis.
The rebound follows the lowest close since February 2009 on Monday after a slump in Chinese stocks sent ripples through global financial markets. Crude is still down 15 percent this year on concern a supply glut will persist.
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