Fuel Fix

(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

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The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”

Shell to ax thousands of jobs amid $7 billion in spending cuts

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(Photographer: Andrey Rudakov/Bloomberg)
The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”
Anadarko Petroleum Corporation CEO Al Walker, gives a speech after his company won top ranked large employer during the Houston Chronicle's Top Workplaces Awards Gala, Thursday, Nov. 8, 2012, in Houston. (Nick de la Torre/Houston Chronicle)

Anadarko CEO: Outlook still uncertain for shale comeback

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Earlier in the year, before initial declines in service costs, Anadarko had estimated it would take $3 billion in capital expenditures to keep production levels flat. Now, Walker said, it would take about $2.7 billion, and there is still room for improvement.

Thomas "Tom" Donohue, president and chief executive officer of the U.S. Chamber of Commerce, speaks in Washington, D.C., U.S., on Wednesday, Jan. 8, 2014. (Andrew Harrer/Bloomberg)

Chamber of Commerce joins call to lift ban on US oil exports

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The Chamber of Commerce added its voice to the growing clamor to export American oil on Wednesday, with the group’s CEO casting a U.S. ban on foreign crude sales as antiquated policy that is on its way out.
Green Mountain Energy is building a 10-kilowatt demonstration solar system at the existing Elbow Creek wind farm near Big Spring in West Texas.

Role of Texas wind power debated after winter emergency

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Critics say Monday’s close brush with blackouts raises questions about the role of wind in grid reliability.
Categories: Electricity, Wind

Thomas "Tom" Donohue, president and chief executive officer of the U.S. Chamber of Commerce, speaks in Washington, D.C., U.S., on Wednesday, Jan. 8, 2014. (Andrew Harrer/Bloomberg)

‘Shallow politics’ at root of Keystone delay, Chamber CEO says

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The nation’s top business lobbyist on Wednesday blamed long delays vetting the Keystone XL pipeline on “shallow domestic politics.”
(AP Photo/Hasan Jamali, File)

US oil boom will slow in 2015, feds forecast

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U.S. daily crude production will slow next year for the first time since the nation’s shale oil boom began in earnest, according to a new federal forecast.

No Scarcity of Economic Ignorance in Congress

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With US oil production booming, pressure has increased to repeal an archaic law that prohibits the export of crude oil without a license.  The law dates back to the early 1970s when OPEC nations imposed an embargo on exports to the US.  That was a time when many in the nation were obsessed with predictions […]
Categories: General
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Bloomberg commentator: ‘Doubt fracking caught Saudis by surprise’ (video)

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Former Hostess Brands CEO Greg Rayburn discussed the impact of U.S. shale oil on foreign oil companies on Bloomberg Television’s “Street Smart” on Tuesday.
Categories: Markets, Production
(AP Photo/Nati Harnik)

Recycled phone books to be used to generate energy

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Old, unwanted phone books on Oahu are being collected to eventually recycle and generate power.
Categories: Electricity