Diminished availability of premium acreage has a growing number of US...
Diminished availability of premium acreage has a growing number of US shale operators turning to refracturing technology to extract more hydrocarbons from depleted wells in mature shale fields. Innovations like high-pressure liner hangers and hybrid refrac designs are increasing production efficiency, lowering costs and extending the productive life of aging assets.
$15B+ in Biden-era energy grants under DOE scrutiny
At least 179 Biden-era energy grants worth more than $15 billion will...
At least 179 Biden-era energy grants worth more than $15 billion will undergo Energy Department audits to assess compliance with the Trump administration's funding standards, according to a memo from Energy Secretary Chris Wright. Large-scale commercial projects will be prioritized, and grants could face cuts or termination if recipients fail to meet federal criteria or respond promptly to information requests.
After the stock market closed on Friday, credit rating agency Moody’s...
After the stock market closed on Friday, credit rating agency Moody’s got in a mood, downgrading America’s creditworthiness from a perfect AAA grade to the next-best Aa1 on account of running up massive deficits and paying an eye-watering amount of interest to service its debt.
There are three major credit agencies, and Moody’s was the last to knock the US from the most pristine credit rating. The others, S&P and Fitch, downgraded US’ credit in 2011 and 2023, respectively. Moody’s hadn’t lowered the US’ stellar score since it issued it in 1919.
Bloomberg Opinion noted that the US government paid over $1.1 trillion in interest on its debt last year, more than the Pentagon’s entire budget.
Moody’s is concerned that the US won’t generate enough tax revenue to cover interest on its debt, meaning it would have to borrow money just to pay interest on…the money it already borrowed.
Treasury Secretary Scott Bessent acknowledged that tariffs may...
Treasury Secretary Scott Bessent acknowledged that tariffs may raise Walmart prices. Bessent said he spoke to Walmart CEO Doug McMillon over the weekend and concluded that the world’s largest retailer would “eat some of the tariffs, just as they did in ’18, ’19 and ’20,” referring to the retailer’s actions after past trade deals. While on CNN on Sunday morning, Bessent said that some of the tariff increases “may get passed on to consumers” shopping at Walmart. In a different interview, Bessent noted that Walmart’s earnings call last week sounded bleak because federal regulations require the company to give investors “the worst-case scenario so that they’re not sued.” Walmart did not comment on the conversation between its CEO and Bessent.
New Jersey Transit reached a tentative deal with the Brotherhood of Locomotive Engineers and Trainmen union. The rail strike is expected to end at midnight on Tuesday.
A car bomb detonated outside a fertility clinic in Palm Springs, CA, on Saturday, killing one person and injuring four others. The FBI linked the attack to anti-natalist ideology.
A Lufthansa flight from Frankfurt to Seville in February 2024 had no pilot for 10 minutes due to a fainting incident, German media reported this weekend.
The Federal Reserve will cut staffing by 10% over the next several years, Chair Jerome Powell said in a memo, which feels a little weird for the agency charged with “maintaining maximum employment” to be announcing.
Austria won Eurovision 2025 thanks to JJ, a counter-tenor with the Vienna State Opera, and his rendition of “Wasted Love.”
Stock futures fall after Moody’s strips U.S. of its top credit rating
Just when the stock market had clawed back all the losses...
Just when the stock market had clawed back all the losses sparked by the panic over President Donald Trump’s tariff plans, investors face another round of debt-related angst as markets slid Sunday after Moody’s Ratings stripped the U.S. government of its last triple-A credit rating.
Strategists warned the move, announced after the market closed on Friday, could spark some near-term selling in stocks and Treasury's.
