Good morning. Today is Martin Luther King Jr. Day. Not only is it a federal holiday...
Good morning. Today is Martin Luther King Jr. Day. Not only is it a federal holiday to honor the legacy of Dr. King, but it’s also the only federal holiday to be designated as a National Day of Service. So let this be a nudge to roll up your sleeves and get active in your local community—you can make a positive difference.
Markets: The US stock and bond markets are closed for MLK Day, so we’ll have to wait another day to see if this year-opening rally will continue for a third week. But crypto trades 24/7, and the same hopeful inflation news that’s been lifting stocks has also given life to beaten-down cryptocurrencies. Bitcoin gained for the 11th straight day on Saturday, topping $20,000 for the first time in more than two months.
A startup is sucking carbon from the air. Switzerland-based Climeworks said it has...
A startup is sucking carbon from the air. Switzerland-based Climeworks said it has achieved a world first by pulling carbon dioxide out of the air and sticking it underground, where it will ultimately transform into rock. The feat has been confirmed by an independent auditor, meaning that hoovering gas out of the air, a long-held goal for several companies and a potentially important way to fight climate change, is now a real possibility.
Chevron Announces New Gas Discovery Off Coast of Egypt
Energy Giant, Chevron on Sunday announced a significant...
Energy Giant, Chevron on Sunday announced a significant new gas discovery in the eastern Mediterranean Sea, off the shore of Egypt. The reservoirs are in the Nargis Offshore Area concession, operated by Chevron, which holds a 45 percent working interest in the concession.
“Chevron is encouraged and excited by the success of this first exploration well which encountered high-quality reservoirs and follows from Chevron’s entry into the Egyptian upstream sector in 2020,“ said Clay Neff, president of Chevron International Exploration and Production.
“We look forward to working together with the Government of Egypt, the Egyptian Natural Gas Holding Company (EGAS), and our other partners to support the growth of Egypt's energy sector through this exploration program. The eastern Mediterranean has abundant energy resources, and their development is driving strategic collaboration in the region.”
Tesla reduces prices for its car models sold in the US and Europe.
Among the price reductions include $43,990 for a Tesla Model 3, down from $46,990, and $52,990 for...
Among the price reductions include $43,990 for a Tesla Model 3, down from $46,990, and $52,990 for a Tesla Model Y, down from $65,990. In the US, both vehicles also now qualify for a $7,500 federal tax credit, bringing down costs further.
Benchmark U.S. crude oil for February delivery rose $1.47 to $79.86 a barrel Friday. Brent crude for March delivery rose $1.25 to $85.28 a barrel.
Wholesale gasoline for February delivery rose 5 cents to $2.53 a gallon. February heating oilrose 4 cents $3.26 a gallon. February natural gas fell 28 cents to $3.42 per 1,000 cubic feet.
