Researchers from FindTheCompany calculated profits per employee among companies on the S&P 500 in 2014. Among the top 25 companies ranked according to that metric, 15 were oil and gas exploration and production companies.
A dozen Democrats insist oil companies aren’t telling shareholders the gritty reality of their crude pursuits, including the environmental and financial risks of drilling in the Arctic Ocean and other frontier areas.
The new “How low can oil go?” report contends that capital markets are “getting nervy” and one of the only ways to stop this downward trend is for North American shale companies to lose more access to capital during the next phase of borrowing negotiations in October, called redetermination.
With just five companies participating and only 33 leases sold, the turnout was the lowest western Gulf auction since area-wide leasing began in 1983, according to the Bureau of Ocean Energy Management.
The U.S. benchmark crude price fell as much as $1.71 to $40.91 per barrel on the New York Stock Exchange, its lowest point in intraday trading since 2009. It’s also 96 cents below this year’s lowest settlement.
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