Hurricane Melissa Nears Jamaica as ‘Catastrophic’ Category 5 Storm
Hurricane Melissa was churning near Jamaica early Monday...
Hurricane Melissa was churning near Jamaica early Monday morning, hours after it rapidly intensified into a powerful Category 5 storm in the Caribbean.
The hurricane is expected to move over or near Jamaica this week as early as Monday evening, before moving toward Cuba and the Bahamas. It is forecast to bring as much as 30 inches of rain to parts of Jamaica, and even more in some areas, over the next few days.
Exxon Mobil Corporation is suing the state of California over a pair...
Exxon Mobil Corporation is suing the state of California over a pair of 2023 climate disclosure laws that the company says infringe upon its free speech rights, namely by forcing it to embrace the message that large companies are uniquely to blame for climate change.
The oil and gas corporation based in Texas filed its complaint Friday in the U.S. Eastern District Court for California. It asks the court to prevent the laws from going into effect next year.
In its complaint, ExxonMobil says it has for years publicly disclosed its greenhouse gas emissions and climate-related business risks, but it fundamentally disagrees with the state’s new reporting requirements.
President Trump is set to meet with Chinese President Xi Jinping
Treasury Secretary Scott Bessent and Chinese officials have been engaged...
Treasury Secretary Scott Bessent and Chinese officials have been engaged in trade talks to lay the groundwork for the leaders’ expected face-to-face in South Korea on Thursday. Bessent told NBC he expects a “very productive” meeting, saying headway has been made on a TikTok deal, soybean purchases, and rare earth exports. Bessent told CBS yesterday that a 100% tariff that was set to be imposed on China this Saturday is now “effectively off the table.” During his Asia trip this week, Trump will attend the Association of Southeast Asian Nations (ASEAN) summit in Malaysia, visit Japan to meet with the country’s new prime minister, Sanae Takaichi, and then attend the Asia-Pacific Economic Cooperation (APEC) summit in South Korea.
A magnificent earnings week: More than 170 companies...
A magnificent earnings week: More than 170 companies are expected to report earnings this week, including most of the Magnificent Seven. Alphabet, Microsoft, and Meta report on Wednesday, while Amazon and Apple announce results on Thursday. Beyond that, we’ll hear from a variety of industries this week. UnitedHealth, UPS, and Visa report on Tuesday, while Boeing, Caterpillar, CVS, Chipotle, Carvana, and Starbucks report on Wednesday. Mastercard, Eli Lilly, and Merck post results on Thursday, while Chevron and Exxon report on Friday.
Hurricane Melissa strengthened into a Category 4 storm as it approaches Jamaica.
Treasury Secretary Scott Bessent said on ABC’s The Week that the financial pain of the trade war with China hurts him personally because “I’m actually a soybean farmer.”
Parachutists have descended upon Yosemite National Park to jump off El Capitan during the government shutdown, which is illegal and may result in a $5,000 fine and six months in jail if caught.
The total number of active drilling rigs for oil...
The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday. Oklahoma remains at 42 rigs drilling.
The total combined rig count in the US rose this week to 550, according to Baker Hughes, down 35 from this same time last year.
The total number of oil rigs rose by 2, reaching 420. Year over year, this represents a 60-rig decline. The number of natural gas rigs remained unchanged at 121, which is 20 above this time last year. The miscellaneous rig count remained unchanged at 9.
The latest EIA data showed that weekly U.S. crude oil production dipped for the first time in five weeks. In the week ending October 17, crude oil production slipped to 13.629 million bpd from 13.636 million bpd in the week prior, a record high.
Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells, staed at 175 for the second week in a row, a figure that is down 26 from the start of the year.
The number of active drilling rigs in the Permian Basin fell by 1 to 250 this week, 54 rigs below year-ago levels. The count in the Eagle Ford also fell by 1 this week, to 43, which is 6 fewer than at this time last year.
