Occidental's road to net zero is paved with captured CO2
Occidental Petroleum is investing more than $1 billion in the first of up to 135 direct-air capture plants...
Occidental Petroleum is investing more than $1 billion in the first of up to 135 direct-air capture plants it's planning to build by 2035, in a bid to achieve net-zero emissions by 2050 while maintaining its oil extraction business. The technology is still in its infancy, but the company aims to take advantage of Inflation Reduction Act tax incentives and make a profit by selling CO2 removal credits, developing CO2-derived products such as synthetic jet fuel and using captured CO2 in enhanced oil recovery to produce net-zero oil.
N. American shale drillers optimistic for coming year
Oilfield costs in shale regions across North America are leveling off as drilling activity stabilizes...
Oilfield costs in shale regions across North America are leveling off as drilling activity stabilizes and materials and equipment availability improves, said oil and natural gas executives at an industry conference in Toronto last week. Enerplus CEO Ian Dundas expects a "relatively stable year," while Paramount Resources CEO Jim Riddell said oil patch inflation appears to have peaked.
PPI data show sharp slowdown in March of U.S. wholesale inflation
The numbers: U.S. wholesale prices sank 0.5% in March to mark the biggest decline in...
The numbers: U.S. wholesale prices sank 0.5% in March to mark the biggest decline in almost three years, potentially a sign of further easing in inflation in the months ahead.
Economists polled by the Wall Street Journal had forecast no change in the producer price index. The drop last month was the biggest since the start of the pandemic in early 2020.
A separate measure of wholesale prices that strips out volatile food and energy costs, as well as trade margins, rose a scant 0.1% last month, the government said. That was also below Wall Street’s forecast. The increase in these so-called core prices over the past year eased to 3.6% from 4.5%.
Donald Trump is suing his ex-attorney Michael Cohen for $500 million, claiming a breach of contract.
Richmond, Indiana, was evacuated Tuesday after a fire at a plastics storage facility sent huge clouds of toxic smoke into the air.
JPMorgan told its managing directors they must come into the office five days a week, ending the hybrid model for higher-ups as the bank prepares to open a new Manhattan headquarters.
Prince Harry will attend his father’s coronation next month, but Meghan Markle will stay in California with their children—and we’re sure childcare is the only reason for this decision.
Stocks end lower as Fed minutes trump positive inflation reading
U.S. stock indexes finished lower in choppy trade on Wednesday after minutes from the Federal Reserve’s...
U.S. stock indexes finished lower in choppy trade on Wednesday after minutes from the Federal Reserve’s March policy meeting showed policymakers agreed that the stress in the banking sector would slow U.S. economic growth. Investors also assessed a March consumer price index report which shows inflation slowing, though still elevated.
The S&P 500SPX, -0.41% shed 16.99 points, or 0.4%, to end at 4,091.95
The Dow Jones Industrial AverageDJIA, -0.11% was off 38.29 points, or 0.1%, to finish at 33,646.50
The Nasdaq Composite COMP, -0.85% dropped 102.54 points, or 0.9%, ending at 11,929.34
