Tech, regulations address the Permian's methane problem
An analysis by S&P Global Commodity Insights shows...
An analysis by S&P Global Commodity Insights shows that Permian Basin methane emissions dropped by 26% in 2023 as regulations tightened and drillers stepped up adoption of advanced leak-detection technologies. The reduction, amounting to over 34 Bcf, occurred despite higher oil and natural gas production.
That is, unless Congress can pass at least a short-term spending measure—but...
That is, unless Congress can pass at least a short-term spending measure—but even that will be no small feat. On Saturday, House Speaker Mike Johnson revealed a 99-page continuing resolution that would fund the government through September. It proposes a $20 billion cut on IRS enforcement and increases for the Defense Dept. and deportation efforts by the Immigration and Customs Enforcement, among other line items. House Republicans hold a four-seat majority (218–214) and, according to an analysis by ABC, can only afford one defection if all House members show up and vote. President Trump urged House Republicans to vote for the bill on Truth Social; House Minority Leader Hakeem Jeffries said that Democrats will not vote for it.
The mission to bring home two stranded astronauts will begin: Suni...
The mission to bring home two stranded astronauts will begin: Suni Williams and Butch Wilmore, who have been vibing at the International Space Station for so long that they missed the rise and fall of the Talk Tuah podcast, are getting closer to leaving a zero-gravity environment. NASA will launch a SpaceX capsule with their replacements on Wednesday, nine months after Williams and Wilmore left on what was originally a one-week trip. The crews will spend a week together, with the newcomers perhaps regaling the stuck astronauts about Kendrick Lamar’s Super Bowl halftime show, before Williams and Wilmore head home.
Dept. of Homeland Security agents detained a Columbia University student who played a key role in last year’s pro-Palestinian protests on the campus.
Pope Francis remains hospitalized but is showing improvement, according to the Vatican.
The Secret Service shot an armed individual described as suicidal outside the White House following a confrontation yesterday morning. President Trump was not on the premises.
A plane carrying five people crashed into a residential area in Lancaster County, PA. They all survived and were taken to hospitals.
US Drillers Cut Oil, Gas Rigs for First Time in Six Weeks
U.S. energy firms this week cut the number of oil and natural gas rigs...
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in six weeks, energy services firm Baker Hughes said in its closely followed report on March 7.
The total oil and gas rig count, an early indicator of future output, fell by one to 592 in the week to March 7.
Baker Hughes said this week's decline puts the total rig count down 30, or 5% below this time last year.
Baker Hughes said oil rigs were unchanged at 486 this week, while gas rigs fell by one to 101.
Crude prices end higher on report of U.S. plan to refill its oil reserve
Trump's changing tariff plans, meanwhile, pull U.S. oil prices down for a seventh straight...
Trump's changing tariff plans, meanwhile, pull U.S. oil prices down for a seventh straight week.
Oil futures settled higher on Friday, buoyed by reported U.S. plans to refill the nation's Strategic Petroleum Reserve to full capacity, which would lead to tighter global supplies.
Prices for crude also found support after a Russian deputy prime minister reportedly said OPEC+ could reverse its decision to begin increasing production next month if the market appears unbalanced.
Crude prices, however, ended lower for the week, with the U.S. benchmark notching a seventh straight weekly decline on concerns that tariffs will slow the economy and energy demand.
-- West Texas Intermediate crude for April delivery rose 68 cents, or 1%, to settle at $67.04 a barrel on the New York Mercantile Exchange, leaving the U.S. benchmark down 3.9% for the week, according to Dow Jones Market Data. That marked a seventh straight weekly loss, the longest such losing streak since December 2023.
-- May Brent crude, the global benchmark, climbed 90 cents, or 1.3%, to $70.36 a barrel on ICE Futures Europe, for a 3.4% weekly decline.
-- April gasoline RBJ25 added 0.4% to $2.11 a gallon but lost 5.1% for the week, while April heating oil HOJ25 lost nearly 0.4% to $2.22 a gallon, posting a weekly decline of 4.3%.
-- Natural gas for April delivery NGJ25 settled at $4.40 per million British thermal units, up 2.3%Friday to end 14.7% higher for the week.
