The US energy grid is crucial to the nation's economy and individuals' health and safety, but the outdated infrastructure is increasingly vulnerable to electromagnetic pulses, cyberattacks and physical threats, as well as cascading failures, writes consultant Chuck Brooks. Integration of operational technology and IoT has expanded potential attack surfaces, necessitating robust security measures and modernization efforts to protect critical infrastructure and reduce vulnerabilities.
EIA: US oil production to peak earlier than gas output
The Energy Information Administration's latest Annual Energy Outlook...
The Energy Information Administration's latest Annual Energy Outlook projects that US crude oil production will crest at 14 million barrels per day in 2027, then gradually decline to around 11.28 million bpd by 2050. Meanwhile, natural gas output is seen peaking at 43.44 trillion cubic feet in 2032 and remain above 40 Tcf through 2050.
Stocks close sharply lower after Powell says Fed will keep waiting to cut rates
Major U.S. stock indexes had their worst performances...
Major U.S. stock indexes had their worst performances in almost a week on Wednesday, with the Dow Jones Industrial Average closing down by almost 700 points, after Federal Reserve Chair Jerome Powell pointed to the possibly detrimental impacts of tariffs.
Powell said officials face a challenging scenario of rising inflation amid labor-market weakening, and they can wait for greater clarity before making any adjustments to interest rates.
The Fed chair "was basically saying that to get the economy back on track, there's probably going to be difficult trade-offs," said Ryan Jacobs, founder of Florida-based advisory firm Jacobs Investment Management. "Any measures he could take to help the economy would be inflationary, which might lead to a lasting unstable market. I don't think the trade war is over anytime soon, and I think we are in the position of moving toward higher inflation.''
The Dow Jones Industrial Average fell 699.57 points, or 1.7%, to finish at 39,669.39, based on preliminary data.
The S&P 500 dropped 120.93 points, or 2.2%, to end at 5,275.70.
The Nasdaq Composite declined 516.01 points, or almost 3.1%, to close at 16,307.16.
It was the worst day for all three indexes since last Thursday.
At least 3,700 people were hospitalized with respiratory issues in Iraq...
At least 3,700 people were hospitalized with respiratory issues in Iraq this week after a large sandstorm swept across the region from Saudi Arabia, filling the skies with an orange haze and reducing visibility to only half a mile. Much of Baghdad, including airports and highways, has been shut down since Sunday as the tiny particles forced people indoors.
EU trade officials made little progress on a tariff deal with the US and are struggling to understand the Trump administration’s position, Bloomberg reported.
Texas Roadhouse surpassed Olive Garden as the biggest casual dining chain in the US last year, CNBC reported.
H&R Block said it’s working with OpenAI to develop a generative AI tool to help tax pros ahead of the 2026 season.
Elliott Management, an activist hedge fund, took a $1.5 billion stake in Hewlett Packard Enterprise in a bid to boost its falling share price.
Starbucks is updating its dress code for baristas, requiring that they wear solid black tops to “allow our iconic green apron to shine.”
US Energy Development Acquires 20,000 Acres in Permian
U.S. Energy Development Corp. (USEDC) has acquired approximately 20,000...
U.S. Energy Development Corp. (USEDC) has acquired approximately 20,000 net acres in Reeves and Ward counties from an undisclosed seller for $390 million, significantly expanding its holdings in the Permian Basin.
The position includes a substantial proved producing component and multi-year drilling inventory to supplement the firm’s existing footprint in the area. It's the largest acquisition in the company’s 45-year history.
USEDC plans to run a dedicated drilling rig on the acquired acreage, making this acquisition a key component of USEDC’s 2025 plan to invest up to $1 billion in U.S. oil and gas properties.
In 2024, the firm deployed approximately $850 million in operated and non-operated oil and gas projects in the basin. The firm’s team continues to evaluate opportunities that align with its disciplined investment strategy and can deliver value to our partners.
