Energy Update
June 3 (Reuters) - Oil prices tumbled more than 1 percent,
extending losses on Friday after a report that U.S. energy firms
in the latest week added rigs drilling for oil for only the
second time this year, data from showed on Friday.
June 3 (Reuters) - U.S. energy firms this week added rigs
drilling for oil for the second time this year, energy services
company Baker Hughes Inc said on Friday, after crude
prices briefly tested a seven-month high over $50 a barrel over
the past two weeks.
That is a key price level that analysts and producers have
said would likely trigger a return to the well pad.
Drillers added 9 oil rigs in the week to June 3, bringing
TORONTO, June 3 (Reuters) - Canada's banks are not over the
worst of the impact from the oil crunch and face further hefty
losses as energy firms struggle to pay back loans and consumers
in oil-producing regions suffer, analysts and investors say.
American Municipal Power and the city of Hamilton held a dedication ceremony for the 105-MW Meldahl hydroelectric plant on June 2.
BERLIN, June 3 (Reuters) - The German Defence Ministry
decided on Friday to ground the three Airbus Cougar
AS532 helicopters used to transport Chancellor Angela Merkel,
after a Europe-wide grounding of the civilian version of the
aircraft, a ministry spokesman said.
We’ve seen it before. Tough talk in the early ’70s for an energy independent America as OPEC’s oil embargo quadrupled the price of petroleum from $2.90 a barrel to $11.65 a barrel. Then, in close pursuit, came the second oil shock of 1980 as the Iranian Revolution halted oil shipments, skyrocketing prices from $13 to $34 a barrel.
Getting extra power to where it’s needed is a tricky business, often requiring millions of dollars in investments. Now a solar-industry veteran has proposed a cheaper alternative: juice stored in batteries that are delivered by truck, rail or barge.
Pages
GET IN TOUCH
- 1875 I Street NW, International Square,
Washington, District Of Columbia, 20006 - Phone: +1 (888) 317-3839
- Email: info@mglllc.com
About
Misha Gerhard & Lewis LLC is International Strategic Consulting Firm with an extensive presence in the most rapidly developing regions of the world.