Oil and gas companies operating in Norway, western Europe’s biggest producer, predict investments will plunge 21 percent next year amid rising costs and increased political interference over offshore developments.
Berkshire Hathaway Inc., which has struck deals to expand its utility business in Nevada and Western Canada, plans more investment in the industry, in part by betting on renewable power, Chairman Warren Buffett said.
Reykjavik Geothermal, the Icelandic power-plant builder, plans to begin drilling in Ethiopia by July as part of a $2 billion project to develop the renewable energy source, Chief Operating Officer Gunnar Orn Gunnarsson said.
The national oil and gas boom may have created a quarter of the jobs U.S. employers have added to payrolls since the economic downturn began six years ago, former Federal Reserve Chairman Ben Bernanke said Friday.
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