Energy Update

Just over a decade ago, the state of California faced serious concerns about whether its utilities could generate and/or buy enough power to assure that the world’s seventh-largest economy could keep the lights on. The infamous California energy crisis, which affected several other western states as well, was a complex tangle of poorly structured deregulation, significant market manipulation (remember Enron?), and other causes.

ADEN, May 6 (Reuters) - At least 80 people, many of them civilians, have been killed in the Yemeni port of Aden as fighting rages between Houthi fighters and local supporters of President Abd-Rabbu Mansour Hadi, rescue workers and residents said.

May 6 (Reuters) - Occidental Petroleum Corp boosted its 2015 production forecast on Wednesday after reporting an adjusted quarterly profit in line with expectations as cost cuts helped balance the recent drop in oil prices.

May 6 (Reuters) - U.S. refiner HollyFrontier Corp's quarterly profit comfortably beat Wall Street estimates as lower crude costs boosted margins, and the company said it would buy back $1 billion in stock.