S&P 500, Nasdaq eke out third straight day of gains in mixed trading session
U.S. stocks finished mixed on Wednesday after swinging between slight...
U.S. stocks finished mixed on Wednesday after swinging between slight gains and losses, with the S&P 500 and Nasdaq Composite managing to advance for a third straight day.
The Dow Jonesfinished down by 42.77 points, or 0.1%, at 38,460.92, for its first decline in the past five trading sessions.
The S&P 500closed up by about 1 pointat 5,071.63.
The Nasdaq Compositeended up by 16.11 points, or 0.1%, at 15,712.75.
Biden’s war on natural gas didn’t stop record use last year in the US
Despite the work of the Biden administration and environmentalists against...
Despite the work of the Biden administration and environmentalists against the use of natural gas, the U.S. had a record use of it in 2023.
The U.S. Energy Information Administration reported this week that in 2023, 89.1 billion cubic feet a day of natural gas was consumed in the U.S., the most on record. Since 2018, U.S. natural gas consumption has increased by an average of 4% annually.
Monthly natural gas consumption set new records every month from March 2023 through November 2023. U.S. natural gas consumption has risen in the electric power sector as coal-fired electric-generating capacity has declined.
Enterprise Products Partners this month received a license for its proposed Sea Port Oil Terminal off Texas' coast, yet regulatory hurdles, rising costs, lack of commercial support and slowing shale production cast doubt on its and other similar projects' prospects of ever coming to fruition. "Between the current dock capacity along the US Gulf Coast, and the most aggressive production projections, it appears that one, at most two," could proceed, said Brett Hunter, oil export consultant at Energy Hunter.
New tool estimates inactive wells' methane leak potential
A newly validated tool developed by Pennsylvania State University researchers...
A newly validated tool developed by Pennsylvania State University researchers can predict the methane leakage potential of decommissioned shale wells by simulating methane diffusion in shale formations. The scientists stressed the need for policies mandating long-term monitoring of methane emissions from abandoned wells.
Tesla’s earnings were as bad as everyone predicted
Tesla’s pivotal earnings call yesterday had the vibes of an undergrad...
Tesla’s pivotal earnings call yesterday had the vibes of an undergrad at office hours begging for extra credit after failing every assignment all semester. The automaker whiffed on revenue targets, even after tempering expectations.
Yikes…for the first time since 2020, the EV-maker’s quarterly revenue dropped, falling to $21.3 billion, compared with $23.3 billion from the same period a year ago (analysts were expecting about $22b). Tesla’s profits sunk to a six-year low. The company said earlier this month that it only delivered 386,810 cars in the first quarter, down 8.5% from the same time in 2023.
In late 2021, Tesla hit a $1 trillion valuation and CEO Elon Musk was the toast of Wall Street. But with its stock now lingering near a 52-week low and after its market cap shed roughly $350 billion during the quarter, the carmaker has become investors’ trendy but emotionally draining friend. Some of its most hyped projects have about as much steam as a hotel iron.
