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Tom Sanzillo and Kathy Hipple
As its core business falters, an oil major seeks speculation-driven profits
ExxonMobil is said to be seeking a much-needed lift through an initiative on which the company has issued no official detail but that will vastly expand its trading capabilities. Hopes are, evidently, that by opening a bigger energy-trading desk Exxon—through speculation—can reverse its trend over the past decade toward shrinking profits, a trend driven by […]
Tom Sanzillo
One agency is well-positioned to do a thorough and fair review
Puerto Rico’s non-bondholding creditors — companies that have supplied the commonwealth with goods and services such as oil deliveries — have asked the court overseeing the commonwealth’s bankruptcy proceedings to let them conduct an investigation into the territory’s debt history. Clearly, a thorough and objective inquiry is necessary, but the organization most likely and best […]
IEEFA
The Hindu: In a big blow to the development of North Andhra, four mega projects sanctioned for Visakhapatnam including the 4×1000 MW ultra-modern power project by the NTPC at Pudimadaka have been shelved due to various reasons. Touted as the largest single investment after formation of Sunrise Andhra Pradesh, the NTPC project was dropped on […]
IEEFA
Reuters: BRISBANE—Coal miners supplying Asia’s rapidly growing economies have plenty to be optimistic about as prices and demand appear robust, but they should be wary of getting caught up in the positive feedback loop that nearly destroyed them before. This week’s inaugural Energy Mines and Money conference in Brisbane, the heartland of the industry in […]
IEEFA
NBC News: Puerto Rico is officially moving to privatize and upgrade its outdated power grid exactly 9 months after it was flattened by Hurricane Maria. At a press conference on Wednesday, Governor Ricardo Rosselló signed into law the approved legislation that allows parts of the Puerto Rico Electric Power Authority—known as PREPA in English and […]
IEEFA
West Virginia Public Radio: For generations, coal power has fueled American prosperity. But for each shovelful thrown into the furnaces, a pile of ash was left in its place. Today, as coal’s dominance in the power sector wanes, those piles of ash have grown into mountains as coal ash became one of the largest waste […]
Cathy Kunkel and Tom Sanzillo
In its version of a bill to privatize the Puerto Rico Electric Power Authority, the Puerto Rico legislature has improved some on Governor Ricardo Rosselló’s original proposal, but lawmakers are ultimately failing the Puerto Rican people every bit as badly as Rosselló has. We’ve criticized the governor’s original privatization proposal for essentially aiming to set […]
IEEFA
The Wall Street Journal ($): Who is the world’s largest operator of wind and solar farms? It’s also America’s most valuable power company. Still stumped? It’s by design. “That is a marketing problem…that we foster intentionally,” Michael O’Sullivan, NextEra Energy Inc.’s head of renewable development, told University of Notre Dame students in 2015. NextEra has […]
IEEFA
The Hill: Two separate courts ruled this week that the Environmental Protection Agency (EPA) must enforce regulations that restrict states from emitting pollution that could cross borders into neighboring states. U.S. district courts in Maryland and New York both ruled separately that EPA was derelict in its duty by not enforcing states to comply with […]
IEEFA
Associated Press: Federal regulators on Tuesday disputed the Trump administration’s claim that struggles facing the coal and nuclear industries threaten the reliability of the nation’s power grid. “There is no immediate calamity or threat,” the Republican chairman of the Federal Energy Regulatory Commission told Congress. Existing power sources are sufficient to satisfy the nation’s energy […]
IEFFA Update: Looking for innovation in the wrong place, ExxonMobil opens an energy-trading desk
As its core business falters, an oil major seeks speculation-driven profits
ExxonMobil is said to be seeking a much-needed lift through an initiative on which the company has issued no official detail but that will vastly expand its trading capabilities. Hopes are, evidently, that by opening a bigger energy-trading desk Exxon—through speculation—can reverse its trend over the past decade toward shrinking profits, a trend driven by […]