EIA sees higher oil output, lower gas production in 2024
US crude oil production will increase by 260,000 barrels per day to 13.19...
US crude oil production will increase by 260,000 barrels per day to 13.19 million barrels per day in 2024, while 2025 oil output will hit a record 13.65 million bpd, the Energy Information Administration predicted in its latest Short-Term Energy Outlook. Additionally, the agency revised downward its projections for natural gas production, expecting it to decrease to 103.35 Bcf/d in 2024 before rebounding to 104.43 Bcf/d in 2025.
Electric utilities in the US have aging infrastructure that poses a growing...
Electric utilities in the US have aging infrastructure that poses a growing wildfire risk as climate change drives conditions that are sparking bigger and more intense conflagrations, experts say. However, too few utilities are adopting relatively low-cost solutions, such as equipping power poles with weather sensors, to guard against the rising risk, says Michael Wara of the the Woods Institute for the Environment at Stanford University.
Subdued spot LNG prices shift balance of power to buyers
Industry experts expect...
Industry experts expect an extended phase of subdued spot liquefied natural gas prices to give buyers the upper hand this year, potentially leading to price reviews, contractual term revisions and increased spot market activity. Baker Botts partner Daniel Reinbott says "oil-linked term SPAs [sales and purchase agreements] that are subject to price review will face downward pressure and some sellers will find it difficult to resist reductions in LNG prices, whether through negotiation or dispute resolution."
Huge news for your friend who takes any opportunity to humble-brag that...
Huge news for your friend who takes any opportunity to humble-brag that they “aren’t really on TikTok.” In a rare bipartisan move, the House passed legislation to effectively ban TikTok in a 352–65 vote yesterday.
Getting through the House is the furthest that federal legislation targeting TikTok has gone since lawmakers started questioning whether the app’s Chinese ownership hurts national security. But the bill, which would require TikTok’s parent company, ByteDance, to sell or shut down the app, now faces the Simon Cowell of the legislative branch: the Senate.
Adidas posted its first annual loss in 30 years and warned that US sales are hurting. Some of the company’s struggles stem from its costly breakup with rapper Ye as it sells off the last of the Yeezy line.
The first rocket launched by Japan’s Space One exploded seconds after launch. (Check out a video here.) The startup wants to be the first Japanese company to get a satellite into space.
SpaceX, which has its own history of exploding rockets, may try for its third launch this morning.
Trader Joe’s said its popular mini canvas totes will be back in stores this summer. Meanwhile, the currently sold-out status symbols are listed for hundreds of dollars on eBay.
A hiker discovered a mysterious monolith on a mountain in Wales in what sure feels like a throwback to 2020.
EIA: Dec. was a record month for US propane exports
Increased demand from East Asia pushed US propane exports to an all-time...
Increased demand from East Asia pushed US propane exports to an all-time high of 1.9 million barrels per day in December, according to the Energy Information Administration. US propane exports to Asia climbed by 25%, or 190,000 bpd, year over year in 2023, with China, Japan and South Korea as the top destinations.
