Shutdown threatens energy permitting, project timelines
The ongoing federal government shutdown is significantly disrupting the...
The ongoing federal government shutdown is significantly disrupting the approval process for oil and gas drilling permits on public lands. With key agencies like the Bureau of Land Management and the Department of the Interior facing staff furloughs, energy companies are experiencing delays in new project authorizations and investment decisions. "Government shutdowns threaten to stall the development of oil and gas resources on federal lands -- delaying energy projects and hurting consumers who depend on affordable, reliable energy," says Anne Bradbury, CEO of the American Exploration Production Council.
Gold has outpaced the S&P 500, bitcoin, and even Nvidia over the...
Gold has outpaced the S&P 500, bitcoin, and even Nvidia over the past 12 months, and the pros think the good times won’t end anytime soon: Goldman Sachs just upgraded its December 2026 price target to $4,900 per ounce, up from its previous $4,300 per ounce.
On top of that, famed investor and Bridgewater Associates founder Ray Dalio argued that putting 15% of your entire portfolio in gold makes sense, noting that today’s economic environment is similar to the 1970s.
“Gold is the only asset that somebody can hold and you don’t have to depend on somebody else to pay you money for,” Dalio said at the Greenwich Economic Forum today. That’s simple enough logic for us.
S&P 500 snaps 7-day win streak as stocks' record-setting rally takes a pause
U.S. stocks finished lower on Tuesday, with the S&P...
U.S. stocks finished lower on Tuesday, with the S&P 500 snapping a seven-session winning streak as Wall Street's record-setting rally took a breather.
The S&P 500 was off 25.69 points, or 0.4% to end at 6,714.59. The large-cap index snapped a seven-session winning streak, while booking its largest one-day point and percentage decline since Sept. 25, according to Dow Jones Market Data.
The Dow Jones Industrial Average lost 91.99 points, or 0.2% to finish at 46,602.98.
The Nasdaq Composite fell 153.30 points, or 0.7%, ending at 22,788.36. It was the largest one-day point and percentage decline since Sept. 23.
Chevron to adjust operations after El Segundo fire
Chevron said it is planning operational adjustments at its El Segundo...
Chevron said it is planning operational adjustments at its El Segundo refinery to meet Southern California's fuel demand following a significant fire that broke out Thursday night. The refinery, which supplies 20% of the region's motor vehicle fuel and 40% of its jet fuel, experienced an unplanned flare event after the fire was extinguished, with potential for intermittent flaring during the adjustment period.
Yesterday, on the eve of the two-year anniversary of the Oct. 7, 2023,...
Yesterday, on the eve of the two-year anniversary of the Oct. 7, 2023, attack that prompted the war in Gaza, Israel and Hamas started indirect talks in a Red Sea resort town to discuss President Trump’s 20-point peace plan. Both sides are under pressure to agree to a ceasefire, but they are also believed to be far apart on key issues—including whether Hamas will disarm and the withdrawal of Israeli troops. Going into the discussions, Hamas said it would agree to release its remaining hostages in exchange for a release of Palestinian prisoners held by Israel, but those details are still being hashed out as well. The White House is pushing for the talks to move quickly, and the initial phase is likely to take several days.
