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The ‘Shale Revolution’ Has Not Paid Investors Very Well

Given all the hype over the U.S. shale revolution, one would expect above-average share performance for shale operators. This has hardly been the case, however, with performance ranging for the most part from mediocre to abysmal. The revolution started of course with the vast Marcellus shale, which has been in the news most recently for […]

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FirstEnergy’s Slide Persists as It Scrambles for a Ratepayer Bailout

FirstEnergy’s Slide Persists as It Scrambles for a Ratepayer Bailout

FirstEnergy’s most recent quarterly numbers and its outlook for 2015 are both dismal and in line with a report we published last fall, “FirstEnergy Seeks a Subsidized Turnaround.” If anything, FirstEnergy’s problems have only gotten worse since we issued our report: FirstEnergy’s net income (revenues less expenses) continues to decline. Here’s the spiral: From $869 […]

March 4, 2015 Read More →
Rio Tinto’s Restructuring Signals a Global Industry Step Away From Coal

Rio Tinto’s Restructuring Signals a Global Industry Step Away From Coal

In announcing an abrupt restructuring and executive downsizing last week, the global mining giant Rio Tinto openly signaled its move away from coal-mining. As part of the changes, Rio’s coal and copper operations will be combined, while uranium will be added to the diamonds and minerals group. More important is the immediate departure of the […]

March 3, 2015 Read More →
A Ratepayer-Friendly Regulatory Decision in Ohio Means One Down, Three to Go

A Ratepayer-Friendly Regulatory Decision in Ohio Means One Down, Three to Go

Kudos to the Public Utilities Commission of Ohio (PUCO) for standing up for residential and business customers. The commission last week denied American Electric Power’s request for long-term power purchase agreements for two aging coal-fired plants, the Kyger Creek Station and the Clifty Creek Station. The request, first filed in December 2013, was a bailout […]

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