In trying to balance the competing interests of oil companies and biofuel producers, the Environmental Protection Agency’s proposed renewable fuel quotas for 2014, 2015 and 2016 have pleased almost no one.
A record cut to the number of active U.S. drilling rigs and billions of dollars of spending reductions by companies since last year’s price plunge has yet to translate into a slump in barrels produced.
An explosion at a China Petroleum & Chemical Corp. oil pipeline and the nation’s deadliest spillage since at least 2005 may threaten the government’s efforts to lure investment to state-controlled industries as President Xi Jinping called for improved industrial safety.
The world’s 50 largest hedge funds snapped up stock in Microsoft, Facebook and consumer-products giants like Procter & Gamble, but they only increased their stake in energy stocks by a net $1 billion in the July-September period, FactSet data show.
After another U.N. climate conference gave only modest results, European Climate Commissioner Connie Hedegaard says the process needs to provide a “substantial answer” to global warming in two years to remain relevant.
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