Energy Update
NEW YORK, Oct 19 (Reuters) - U.S. independent refiners such
as PBF Energy and Phillips 66 are expected to
report another quarter of disappointing profits in coming weeks,
as hopes that a record summer driving season would turn the
industry's fortunes around do not appear to have materialized.
In his commentary, Steve Cicala fell into a common trap for economists analyzing the electricity system. Touting what economics calls competitive advantage, Mr Cicala suggests we pursue the lowest price by taking cheap solar electricity from the Southwest, wind from the Midwest, and even coal from Appalachia, and send it across the country to places where those same electrons can’t be as inexpensively generated.
(Wed, 19 Oct 2016) Coal has long been the dominant source of electricity generation in the Mountain Census division. In the eight Mountain states, coal-fired power generation made up almost 50% of the regionâs total generation in 2015, compared to the national average of 33%. A decade ago, coalâs share in Mountain states was even higher, at 63%.
By Rushil Dutta
Oct 19 (Reuters) - Most Southeast Asian stock markets
extended gains into a second session on Wednesday, in line with
broader Asia, on Chinese economic data that confirmed the
economy had stabilised, even though worries about debt
prevailed.
Sentiment was also buoyed by Wall Street advancing on solid
corporate earnings.
China's economy grew 6.7 percent in the third quarter from a
BEIJING, Oct 19 (Reuters) - China's coal output output fell
12.3 percent last month, extending a prolonged period of
government-enforced cuts before Beijing gave the go-ahead for
producers to reopen shuttered capacity amid a surge in prices.
CHICAGO, Oct 18 (Reuters) - A leading bankrupt subsidiary of
Abengoa SA won U.S. court approval on Wednesday to join
a $10 billion debt-restructuring agreement in Spain, a week
before a deadline for the renewable energy firm to secure
creditor support for the plan.
SINGAPORE, Oct 19 (Reuters) - Oil prices rose early on
Wednesday, pushed up by a report of a fall in U.S. crude
inventories and an OPEC statement saying a planned production
cut was achievable, although analysts warned that Chinese
economic data could erode the bullish momentum.
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