Not enough high-quality oil, gas available, WoodMac says
Limited availability of high-quality oil and natural gas supplies with low cost and emission profiles...
Limited availability of high-quality oil and natural gas supplies with low cost and emission profiles could hinder progress toward meeting emissions goals and force upstream players to adjust their strategies, highlighting the need for more exploration, according to a Wood Mackenzie analysis. "We see enough advantaged resources to satisfy only about half of our base-case oil and gas demand forecast to 2050," said Wood Mackenzie Upstream Vice President of Energy Research Andrew Latham.
New solution for defunct wells has carbon-trapping potential
Colorado's abandoned oil and natural gas wells could find new life as deep carbon containers after state...
Colorado's abandoned oil and natural gas wells could find new life as deep carbon containers after state lawmakers on Tuesday tentatively approved a study to evaluate the feasibility and efficacy of plugging wells with biochar, a charcoal that could trap carbon and filter out natural gas leaks. The study would be conducted by Colorado State University and if proven successful, the proposed solution could help mitigate climate change by preventing millions to billions of tons of carbon dioxide from entering the atmosphere, according to experts.
Blue Origin claims it cracked the mystery of how to turn ...
Blue Origin claims it cracked the mystery of how to turn moon dust into solar panels—something scientists have been trying to do since astronauts first brought the stuff back to Earth. The company dropped the news with surprisingly little fanfare for a potentially major breakthrough, but if Bezos’s space force really is able to replicate the Earth-bound experiments it’s done so far on the moon, it would be a game changer. The company is reportedly trying to pitch its tech to NASA for building lunar infrastructure that could ultimately help get us to Mars.
Benchmark U.S. crude oil for March delivery fell $2.15 to $76.34 a barrel Friday. Brent crude for April delivery fell $2.14 to $83 a barrel.
Wholesale gasoline for March delivery fell 3 cents to $2.41 a gallon. March heating oilfell 10 cents to $2.71 a gallon. March natural gasfell 11 cents to $2.28 per 1,000 cubic feet.
Dow ends higher Friday, but stocks finish week in the red
U.S. stocks closed mostly lower on Friday, with the S&P 500 and Dow both ending a choppy week with...
U.S. stocks closed mostly lower on Friday, with the S&P 500 and Dow both ending a choppy week with losses, as concerns reared back up about how quickly the Federal Reserve might need to hike rates to cool stubbornly high inflation. The Dow Jones Industrial Average DJIA rose about 130 points on Friday, or 0.4%, ending near 33,826, while posting a 0.1% weekly drop, according to preliminary data from FactSet. The S&P 500 index SPX shed 0.3% Friday and lost 0.3% for the week, posting back-to-back weekly declines. The Nasdaq Composite Index COMP fell 0.6% Friday, but a 0.6% weekly gain. The backdrop for stocks has gotten cloudier in recent sessions as surging wholesale prices signaled that inflation could continue to be slow to retreat in the U.S. Several Fed speakers this week also pointed anxiously to inflation that isn’t retreating fast enough, triggering concern in markets that the Fed might need to fire off more rate hikes and keep them in restrictive territory for longer than initially anticipated.
