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☆ Participant, Maker of Films With Social Conscience, Calls It Quits
▼ + stars: | 2024-04-16 | by ( Brooks Barnes | ) www.nytimes.com time to read: +1 min

For 20 years, Participant Media has been Hollywood’s pre-eminent maker of activist entertainment, backing socially conscious films like “An Inconvenient Truth,” a climate change cri de coeur, and “Wonder,” about a boy with birth defects. Its movies have won 21 Academy Awards. But the company never quite managed to do good while also making money, at least not consistently. Streaming services like Disney+ and Netflix have started to sell ads, and advertisers prefer all-audience, apolitical content. Eat-your-broccoli documentaries and dramas that explore underrepresented communities (both Participant sweet spots) are harder to sell than ever.

Persons: Matt Damon, Jeff Skoll Organizations: Media, “, eBay, Wall, Disney, Netflix

☆ Opinion: Investing in oil and gas doesn’t make sense anymore
▼ + stars: | 2024-04-04 | by ( Opinion Tom Steyer | ) edition.cnn.com time to read: +7 min

Some might think that, questions of morality aside, fossil fuel investments are just too good to pass up. Even in the United States, where President Joe Biden’s Inflation Reduction Act is making historic investments in clean energy, oil exports are at an all-time high. On closer examination, the simplest argument against funding new oil, gas and coal projects is not that they’re immoral. What should be even more concerning to investors is that fossil fuel companies’ challenges go beyond supply and demand. Finally, there is perhaps the greatest risk fossil fuel investors face: the industry’s massive profits are largely dependent on special treatment by governments.

Persons: Tom Steyer, Pimco, Vladimir Putin’s, Joe Biden’s, I’ve, —, there’s, Morgan Stanley, persuasively, Herbert Stein Organizations: Solutions, CNN, JPMorgan Chase, State Street, Global Energy Monitor, Farallon Capital, ” Locations: BlackRock, Ukraine, United States, Texas, Farallon

☆ Court Temporarily Halts S.E.C.’s New Climate Rules
▼ + stars: | 2024-03-15 | by ( Hiroko Tabuchi | ) www.nytimes.com time to read: +1 min

A federal court on Friday temporarily halted new rules from the Securities Exchange Commission that require public companies to disclose more about the business risks they face from climate change, siding with two oil and gas companies that criticized the requirements as costly and arbitrary. this month, the rules require some publicly traded companies to disclose their climate risks, and how much greenhouse gas emissions they produce. Ten Republican-led states have also sued to stop the rules. to effectively regulate the controversial issue of climate change,” the two companies wrote in their petition. They were “arbitrary and capricious,” the two companies said, and violated the First Amendment, which protects free speech, by “effectively mandating discussions about climate change.”

Persons: “, ” Organizations: Securities Exchange Commission, Industry, U.S . Chamber of Commerce, U.S ., Appeals, Fifth Circuit, Republican, Fifth, Liberty Energy, Nomad Proppant Locations: U.S

☆ U.S. Gas Producers Are Racing to Sell to Asia. And Mexico Is Key.
▼ + stars: | 2024-02-13 | by ( Max Bearak | ) www.nytimes.com time to read: +1 min

As soon as next year, the United States’ fossil fuel industry will gain its first foothold on a valuable shortcut to sell natural gas to Asia. The shortcut goes straight through Mexico. The terminal is symbolic of an enormous shift underway in the gas trade, one that will influence fossil-fuel use worldwide for decades and have consequences in the fight against climate change. The American fracking boom has transformed the United States into the world’s largest gas producer and exporter. Demand is particularly growing in China, India and fast-industrializing Southeast Asian countries.

Locations: United States, Asia, Mexico, Coast, Panama, American, China, India

☆ Two Big Texas Oil Producers Announce $26 Billion Merger
▼ + stars: | 2024-02-12 | by ( Karen Weise | ) www.nytimes.com time to read: +1 min

Two large Texas oil producers are joining forces in a deal valued at $26 billion, the latest in a wave of consolidation in the U.S. energy industry. Diamondback Energy and Endeavor Energy Resources, both major players in the booming Permian Basin oil field that straddles New Mexico and Texas, announced on Monday that they would merge in a cash-and-stock deal, with Diamondback’s shareholders owning about 60 percent of the combined company. The Permian Basin was once seen as a worn-out patch. The basin has been transformed into the most productive oil and gas field in the United States. “With this combination, Diamondback not only gets bigger, it gets better,” Travis Stice, the company’s chief executive, said in a statement.

Persons: ” Travis Stice, Diamondback’s Organizations: Diamondback Energy, Endeavor Energy Resources Locations: Texas, U.S, New Mexico, United States

It may be just electioneering: López Obrador leaves office in September, and he really wants his party’s candidate, former Mexico City mayor Claudia Sheinbaum, to win the presidential elections. López Obrador has made other unfulfilled promises in the past, like pledging Mexico would have a health care system “better than in Denmark." But the cost of what López Obrador is proposing for pensions is striking. The other half of Mexicans, who work under the table in the ‘informal’ economy, have no pension program at all. It seems unlikely to be achieved, so why would López Obrador propose it?

Persons: —, Andrés Manuel López Obrador, López Obrador, Claudia Sheinbaum, “ It's, Morena, ”, Gabriela Siller, It's, he'll, “ López Obrador, Claudia, Sheinbaum, Viri Ríos Organizations: MEXICO CITY, Mexico City, Morena, Nuevo Leon, Banco Base, López Obrador doesn’t, National Guard Locations: MEXICO, Mexico, Denmark, Morena

☆ How the U.S. Became the World’s Biggest Gas Supplier
▼ + stars: | 2024-02-03 | by ( Brad Plumer | Nadja Popovich | ) www.nytimes.com time to read: +8 min

Became the World’s Biggest Gas SupplierTop exporters of liquefied natural gas 12 billion cubic feet per day U.S. Qatar 10 Australia 8 6 Russia 4 Malaysia 2 2014 2023 12 billion cubic feet per day United States Qatar Australia 10 8 6 Russia 4 Malaysia 2 2014 2023 Source: S&P Global Note: Data reflects annual average liquefied natural gas exports by country. But climate activists worry that soaring exports of liquefied natural gas could make global warming worse. In the early 2000s, natural gas was relatively scarce at home, and companies were spending billions of dollars to build terminals to import gas from places like Qatar and Australia. In the mid-2000s, U.S. drillers perfected methods to unlock vast reserves of cheap natural gas from shale rock. The process of making and shipping liquefied natural gas adds complexity and cost, but if the difference between U.S. natural gas prices and overseas prices is big enough, it is profitable.

Persons: Biden, Fracking, ”, Kenneth Medlock, —, Ben Cahill Organizations: U.S, drillers, Cheniere Energy, Center for Energy Studies, Rice University, “, Asia, Department of Energy, Energy Department, . Energy, Energy Information Administration, Clearview Energy Partners, Center for Strategic, International Studies Locations: U.S, Qatar, Australia, Russia, Malaysia, United States Qatar Australia, United States, Japan, Europe, Asia, Ukraine, China, India, Pakistan, Bangladesh, Vietnam, Texas , Louisiana, Maryland, Georgia, Mexico

☆ Your energy costs could become a lot more unpredictable
▼ + stars: | 2024-02-01 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

For more than a decade, Americans could rely on cheap natural-gas prices to heat their homes and power businesses. Prices shot up exponentially, and homeowners, renters, and businesses are still seeing the ripple effects on their utility bills — even though natural-gas prices have since fallen. Just six years later, the US surpassed Qatar to become the world's leading exporter of natural gas. Slocum added that natural-gas exports put upward pressure on prices, citing recent reports by the US Energy Information Administration and the Federal Energy Regulatory Commission . The higher costs between 2021 and late 2023 are due to the energy crisis in Europe and "cannot explicitly be linked" with greater US gas exports, the spokesperson said.

Persons: Joe Biden, Tyson Slocum, Goldman Sachs, Slocum, Mike Sommers Organizations: Service, Business, LNG, US Energy Information Administration, Federal Energy Regulatory, American Petroleum Institute, CNBC, Energy, Consumer Locations: Russia, Ukraine, Europe, Texas, New Mexico, Qatar

☆ You may be eating predigested food. Here’s why
▼ + stars: | 2024-02-01 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +11 min

Aleksandr Zubkov/Moment RF/Getty ImagesBypassing the digestive systemMuch like the regurgitated food mother birds feed their babies in the nest, ultraprocessed food is quick and easy to digest, according to experts. “So the question is, which degree of processing remains compatible with human food system sustainability and global health? Some food processing may be goodHumans have processed food for centuries — the first evidence of fermentation was some 13,000 years ago. Alexander Donin/iStockphoto/Getty ImagesThe ingredients used in many ultraprocessed foods, however, have been subjected to much more than a bit of heat. “The other way I put it is that individuals who are trying to control their weight in today’s food environment are fighting an entire food system on their own.

Persons: starchy, “, ”, Chris van Tulleken, van Tulleken, Aleksandr Zubkov, that’s, didn’t, David Katz, ” Katz, we’ve, ’ you’ve, it’s, Kevin Hall, Hall, ” Hall, Giulia Menichetti, Menichetti, Anthony Fardet, Fardet, ” Fardet, Alexander Donin, Marion Nestle, Paulette Goddard, ” Nestle Organizations: CNN, Industry, University College London, BBC, Getty, True Health Initiative, National Institute of Diabetes, Diseases, Harvard Medical School, Brigham, Women’s Hospital, Network Science Institute, Northeastern University, French National Institute for Agricultural Research, New York University Locations: Europe, United States, Bethesda , Maryland, Boston, Paris

Why did Biden delay consideration of LNG export terminals? Biden's action would not affect those projects, but could delay a dozen or more LNG projects that are pending or in various stages of planning. A public comment period after that will likely delay any decisions on pending LNG projects until after the November election. Environmentalists hailed Biden's decision, saying LNG exports not only pollute communities and add to the climate crisis but also raise energy prices for U.S. families and businesses. A single proposed LNG export terminal in Louisiana would produce about 20 times the greenhouse gas emissions of Willow, activists say.

Persons: —, Biden, Joe Biden, ”, Vladimir Putin, Ali Zaidi, Jennifer Granholm, ″ Zaidi, Granholm, Biden's, Abigail Dillen, Sen, Ed Markey, Mike Sommers, Mitch McConnell, Israel's, “, “ Biden, ″, Bill McKibben, Donald Trump, Karoline Leavitt Organizations: WASHINGTON, Democratic, Industry, Republicans, Russia, U.S, Energy Department, Energy, Seven, American Petroleum Institute, U.S . LNG, GOP Locations: United States, Europe, Asia, Ukraine, Alaska, U.S, Russia, Louisiana, Texas, Calcasieu, Coast, Kentucky, Gaza, Willow

CHANNELVIEW, Texas — For nearly 20 years, Texas environmental regulators have kept a disturbing secret. AdvertisementTexas Community Health News; Texas Commission on Environmental Quality"Any exposure to a carcinogen increases your risk of developing cancer. AdvertisementTim Doty, a former TCEQ mobile air monitoring expert, at the industrial edge of River Terrace Park in Channelview, Texas. In fact, the agency rarely fines companies that violate Texas air pollution laws. Mark FelixHoneycutt's toxicology division soon took an even more dramatic step to weaken Texas' benzene guidelines.

Persons: Loren Hopkins, Hopkins, Mark Felix, TCEQ, AirToxScreen, AirToxScreen Harris County Attorney Christian Menefee, Menefee, Tim Doty, Doty, Solv, He'd, Glenn Shankle, Kelly Keel, Todd Riddle, Riddle, Lopez, Joe Lopez, Dora, Joel Lopez, Randy Lopez, It's, Joel, Felix Benzene, wildcatters, Houston —, Forbes, Lorenzo de Zavala, Alison Cohen, Cohen, Tim Doty's, Houston Mayor Bill White, Shankle, Michael Honeycutt, Valerie Meyers, Meyers, Mark Felix Meyers, Richard Hyde, John Sadlier, Ryder, Hyde, hadn't, Russell Allen, Matt Baker, Jacintoport, Cloelle Danforth, Public Health Watch —, Danforth, Mark Felix Honeycutt's, Eric Schaeffer, Schaeffer, Honeycutt, Jim Tarr, polluters, upended, Mark Felix Fracking, Barnett, Glenn Shankle —, —, Rick Perry, Perry, Sadlier, David Bower, misstep, Baker, Bower, Michael Burgess, Greg Abbott, Abbott, Mark Felix Meanwhile, Randy, That's, Carolyn Stone, Stone, Carolyn Stone's, Mark Felix The, Cynthia Benson, Benson, Mark Felix Tim Doty, Mark Felix K, Jordan Gass Organizations: Public Health Watch, Texas Commission, Environmental, American Petroleum Institute, Oceanic, Atmospheric Administration, U.S . Navy, Geospatial - Intelligence Agency, General, Health, Public Health, Rice University, Environmental Protection Agency, Texas Community Health, AirToxScreen Harris County Attorney, polluters, Mark Felix Public Health, TCEQ, Solv, Mark Felix Public Health Watch, myelodysplasia, Houston, Oil, Gas Watch, Texas, Houston Ship, University of California, Houston Mayor, ., . Texas Community Health, NASA, Exxon Mobil, Public, Watch, Environmental Defense Fund, Management, Civil, Air Alliance Houston, Republican, Fort, United, Texas toxicologist, EPA, Texas Tribune, Google, Land Office, . Geological Survey, National Oceanic, Firefighters, U.S . Occupational Safety, Health Administration, Channelview, Improvement Coalition, Health Watch, San Jacinto, K, Texas Legislature, Solv Group, Services Locations: , Texas, Texas, Houston, Channelview's Jacintoport, San Jacinto, California, Jacintoport, Channelview , Texas, AirToxScreen Harris County, Channelview, Harris County, United States, North Channelview, Gulf, Terrace, Joel's, Houston , Texas, Spindletop, Mexico, Republic of Texas, Port of Houston, San Francisco, . Texas, That's, polluters, lacquers, Dallas, Fort Worth, Fort Worth City, Austin, Round, Minnesota, Galveston, U.S

Lujan Grisham said she'll ask the Legislature to set aside $500 million to underwrite acquisition of treated water. “We're going to turn water — this waste, which is a problem — into a commodity,” Lujan Grisham said at the conference. The state's oil wells draw out far more water than oil, by several multiples, according to oil field regulators. “Creating a state reserve of treated water for renewable energy projects merits serious consideration in the upcoming session,” Wirth said. New Mexico state government is navigating an unprecedented financial windfall from record setting oil production centered in the Permian Basin that extends across southeastern New Mexico and portions of western Texas.

Persons: Michelle Lujan Grisham, Lujan Grisham, she'll, “ We're, ” Lujan Grisham, “, James Kenney, ” Kenney, Peter Wirth of, Peter Wirth of Santa Fe, ” Wirth, Larry Scott, Hobbs Organizations: SANTA FE, —, Democratic, Gov, Dubai, United Arab, Tax, Fund, U.S, Lawmakers, Democratic Party, Republican Locations: SANTA, — New Mexico, United Arab Emirates, Rio, New Mexico, Peter Wirth of Santa, Texas

Signing on to the pledge were major national oil companies such as Saudi Aramco, Brazil's Petrobras and Sonangol, from Angola, and multi-nationals like Shell, TotalEnergies and BP. The pledge is a “smokescreen to hide the reality that we need to phase out oil, gas and coal,” said a letter signed by more than 300 civil society groups. Still, Mena said that self-reporting didn't go far enough to push oil and gas companies to make changes. Earlier this year, European Union negotiators reached a deal to reduce methane emissions from the energy industry across the 27-member bloc. In his speech, al-Jaber said oil and gas companies needed to do more to research solutions to Scope 3 emissions.

Persons: Sultan al, Jaber, ”, Jean Su, Fred Krupp, Bill Hare, Hare, Marcelo Mena, Mena, John Podesta, Abu Dhabi’s ADNOC Organizations: United Arab Emirates, Associated Press, Abu Dhabi National Oil Co, Saudi Aramco, Brazil's Petrobras, Sonangol, Shell, Center for Biological Diversity, Environmental, Environmental Defense Fund, U.S . Environmental Protection Agency, European Union, Gas, United Arab, Aramco, AP Locations: DUBAI, United Arab, United Nations, Abu Dhabi, Saudi, Angola, COP28, al, fracking, philanthropies, Chile, U.S, United States, United Arab Emirates, Saudi Arabia

☆ Saudi Arabia is struggling to boost oil prices, raising possibility of supply war with U.S.
▼ + stars: | 2023-12-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

OPEC is facing growing challenges in its efforts to boost oil prices amid record output outside the alliance, particularly in the U.S., raising questions about how long the alliance can maintain its deep production cuts. The outcome is a "bittersweet victory" for OPEC kingpin Saudi Arabia, wrote Jorge Leon, senior vice president of Rystad Energy, in a note Thursday. With oil prices down more than 14% since September highs, traders were hoping that OPEC could provide a boost. In the end, Saudi Arabia may have only one option — launch a supply war by flooding the market with oil. The 2.2 million bpd in voluntary cuts from the coalition of the willing is somewhat deceiving.

Persons: Jorge Leon, bode, Leon, Brent, Natasha Kaneva, Paul Sankey, John Kilduff, Kilduff, it's, Sankey, Kaneva, Goldman Sachs, Goldman, Daan Struyven, Struyven Organizations: Rystad Energy, Traders, Sankey Research, U.S . Oil, U.S, OPEC, United Arab, Goldman Locations: U.S, OPEC, Saudi Arabia, Riyadh, Saudi, China, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, Oman

An advanced geothermal project has begun pumping carbon-free electricity onto the Nevada grid to power Google data centers there, Google announced Tuesday. Getting electrons onto the grid for the first time is a milestone many new energy companies never reach, said Tim Latimer, CEO and co-founder of Google's geothermal partner in the project, Houston-based Fervo Energy. Political Cartoons View All 1267 ImagesFervo is using this first pilot to launch other projects that will deliver far more carbon-free electricity to the grid. Google and Fervo Energy started working together in 2021 to develop next-generation geothermal power. Google announced back in 2020 that it would use carbon-free energy every hour of every day, wherever it operates, by 2030.

Persons: Tim Latimer, ” Latimer, Michael Terrell, We’re, ”, Terrell, “, ” Terrell, Jennifer Granholm, Granholm, Sarah Jewett, Latimer, DCVC, Rachel Slaybaugh, Fervo, Slaybaugh, it’s, Jewett Organizations: Google, Energy, International Energy Agency, Fervo Energy, U.S . Energy Information Administration, Energy Department, DOE, Massachusetts Institute of Technology, AP Locations: Nevada, Houston, Utah, Winnemucca , Nevada, Las Vegas, Reno, United States, California , Nevada , Utah, Hawaii , Oregon , Idaho, New Mexico, Latimer, Fervo, Beaver County , Utah

The lament is as old as education itself: The students aren’t paying attention. But today, the problem of flighty or fragmented attention has reached truly catastrophic proportions. By some measures you are lucky these days to get 47 seconds of focused attention on a discrete task. Increasingly powerful systems seek to ensure that our attention is never truly ours. We need a new kind of resistance, equal to the little satanic mills that live in our pockets.

☆ From black gold to green power: Texas, weirdly, is leading America's clean energy future
▼ + stars: | 2023-11-21 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +16 min

John DavisDeals like Davis' have made Texas — America's oil capital for more than a century — the top producer of renewable energy in the US. The state has long generated the most wind power and is second only to California as a solar-energy producer. The high-stakes battle for Texas' energy future is a microcosm of how tricky America's green transition is shaping up to be, especially when politics are involved. Slowing down renewable energy could cost Texas in the long term, both economically and socially. The coalition seems to be growing stronger, even as Texas politicians shift further to the right on issues beyond renewable energy.

Persons: John Davis, Davis, Greg Abbott, Critics aren't, there's, George W, Bush, Rick Perry, Abbott, Winter Storm Uri, hasn't, it's, It's, Judd Messer, Madeline Gould Laughlin, Michael Looney, San Angelo Chamber of Commerce Brent Bennett, Bennett, Messer, That's, Enel's Laughlin, Enel, Sandhya Ganapathy, Catherine Boudreau Organizations: Menard, RES, Texas, Republican, Texans, Power Alliance, John Davis Texans, University of Texas, Winter Storm, ERCOT, Bloomberg, Texas Public Policy Foundation, Texas Energy Fund, Advance Power Alliance, San, San Angelo Chamber of Commerce, Chamber of Commerce, ExxonMobil, Chevron, West Texas Chamber of Commerce, Lone Star, EV Locations: North Dakota, Texas, America, Nowhere, Menard , Texas, Concho County , Texas, California, Menard, Austin, San Angelo, Midland , Texas

☆ Make America Build Again
▼ + stars: | 2023-11-16 | by ( Adam Rogers | ) www.businessinsider.com time to read: +37 min

America is the sixth-most-expensive place in the world to build subways and trolleys. The solutions will cost trillions of dollars and require a pace of building unseen in America since World War II. Perhaps the single most pressing question we face today is: How do we make America build again? "For this class of projects, federal environmental laws are more the exception." The prospect of overhauling our hard-won environmental laws might feel like sacrilege to anyone who cares about the Earth.

Persons: Anne, Marie Griger's, Griger, —, They're, Obama, I'm, we've, We've, I'd, It's, Matt Harrison Clough, Jamie Pleune, AECOM, Joe Biden's, There's, David Adelman, David Spence, Spence, James Coleman, NECA, Coleman, everyone's, Danielle Stokes, Nobody, Bill McKibben, Mother Jones, McKibben, Michael Gerrard, Columbia University —, they've, David Pettit, it's, Zachary Liscow, That's who's, Adam Rogers Organizations: RES Group, Environmental, Infrastructure Investment, Jobs, Land Management, Forest Service, University of Utah, Harvard Joint Center for Housing Studies, Brookings, Bureau of Ocean Energy Management, White, University of Texas, Greenpeace, Natural Resources Defense Council, Act, NEPA, Berkeley, University of California, University of Southern, Southern Methodist University, Ecosystems Conservation, GOP, Biden, Motorola, Telecommunications, Conservatives, Federal Energy Regulatory Commission, FERC, University of Richmond, UC Berkeley, USC, Star, Sabin, Climate, Columbia University, Natural Resources Defense, Republicans, Democrats, Management, Budget, Yale Law School Locations: Panama, Colorado, . California, Los Angeles, San Francisco, China, America, Washington, , Wyoming, Nantucket, New England, San Francisco ., University of Southern California, California, New York, Florida, Southern California, Las Vegas

That has been a sticking point for the United States in months of discussions with Beijing on climate change. The United States and China have an outsize role to play there as nations debate whether to phase out fossil fuel. That is significant because the current Chinese climate goal addresses only carbon dioxide, leaving out methane, nitrous oxide and other gases that are acting as a blanket around the planet. Then, early this year, an American fighter jet shot down a Chinese spy balloon that had floated over the continental United States. When it comes to climate change, no relationship is as important as the one between the United States and China.

Persons: Biden, Xi Jinping, ”, David Sandalow, Clinton, Obama, Sandalow, they’re, Mr, John Kerry, Xie Zhenhua, “, Xi, Manish Bapna, ” Mr, Bapna, Kerry, Xie, Valerie Volcovici, Nancy Pelosi, Kerry’s, optimistically, . Biden, Donald Trump, Keith Bradsher Organizations: Hamas, Columbia University’s Center, Global Energy, International Energy Agency, U.S ., Cooperation, Natural Resources Defense Council, Beijing, Republican Locations: Bohai, Weifang, China, United States, Taiwan, Ukraine, Israel, Beijing, Dubai, United Nations, United Kingdom, U.S, California, ”, Europe, American, America

☆ A rapid clean-energy transition could save 181 million years of healthy human life annually by 2050, report finds
▼ + stars: | 2023-11-08 | by ( Morgan Mcfall-Johnsen | Maiya Focht | ) www.businessinsider.com time to read: +7 min

A rapid transition to green energy sources would prevent a lot of disability and early death, researchers say. In the year 2050 alone, the transition's impact amounts to 181 million future years of healthy human life, a new report found. Add to that list 181 million years of healthy human life — annually. Mohammad Ponir Hossain/ReutersDisability-adjusted life years, or DALYs, capture years of life affected by disability and years lost to premature death. If the world rapidly transitions to renewables, they found, the energy system will still hurt human health enough in 2050 to lead to early death and disability that affects 30 million years of human life.

Persons: Martin Meissner, it's, Stephanie Roe, WWF's, Mohammad Ponir Hossain, Nick Oxford, Dylan Martinez, Jonathan Buonocore, Buonocore, Lyu, Roe Organizations: Service, Wildlife Fund, Boston Consulting, Reuters, American Lung Association . Mines, Harvard, Boston University School of Public Health, WWF, China News Service, Getty, International Energy Agency, Stanford Locations: Haltern, Germany, Dhaka, Bangladesh, Texas, Fujian Province, China

☆ Fracking Pioneer Cashes in as Twilight Sets in the Shale Patch
▼ + stars: | 2023-10-19 | by ( Benoît Morenne | ) www.wsj.com time to read: 1 min

Scott Sheffield transformed Pioneer Natural Resources from a fledgling outfit into one of the largest oil producers in West Texas and, until recently, put no limits on his ambition to grow. But after two weeks of negotiations, he agreed to sell his company for $60 billion to Exxon Mobil last week, the oil giant he had lapped for years in the Permian Basin.

Persons: Scott Sheffield Organizations: Natural Resources, Exxon Mobil Locations: West Texas

PORTLAND, Ore. (AP) — Federal regulators have approved the expansion of a natural gas pipeline in the Pacific Northwest over the protest of environmental groups and top officials in West Coast states. The Federal Energy Regulatory Commission gave it the green light in a vote on Thursday. The pipeline belongs to TC Energy of Calgary, Canada — the same company behind the now-abandoned Keystone XL crude oil pipeline. The agency’s final environmental assessment revised that number downward by roughly half in calculations contested by environmental groups. In a joint letter to the federal agency the day before its vote, Democratic U.S.

Persons: Senators Ron Wyden, Jeff Merkley, Patty Murray, Maria Cantwell, Washington, ”, Audrey Leonard, Leonard, fracking Organizations: —, Federal Energy Regulatory Commission, TC Energy, Keystone, Federal Energy Regulatory, Democratic U.S, Senators, Columbia Locations: PORTLAND, Pacific Northwest, West Coast, Idaho , Washington and Oregon, Calgary, Canada, Kootenai County , Idaho, Walla Walla County , Washington, Sherman County , Oregon, Idaho, Washington, Oregon, California, Washington , Oregon, California , Oregon

☆ Exxon’s Pioneer Shale Play
▼ + stars: | 2023-10-16 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: exxon, biden

☆ US oil is back, and ExxonMobil's $60 billion deal isn't even the biggest signal
▼ + stars: | 2023-10-15 | by ( Tim Mullaney | ) www.cnbc.com time to read: +8 min

The news came a day after a $60 billion deal between Exxon Mobil and independent oil producer Pioneer Natural Resources . Monthly production topped out at 13 million barrels per day in November 2019 and hit 9.9 million by February 2021. And offshore oil drilling in the Gulf of Mexico recovered to 2 million barrels a day, but hasn't grown. Where oil companies have been spending their money U.S. oil companies cut capital spending to $106.6 billion last year from $199.7 billion in 2014, according to Statista, contributing to the decline in oil production and arguably delaying the recovery. According to Energy Department data, oil and gas companies paid out about $75 billion per quarter in the last year.

Persons: Brittany Sowacke, Rob Thummel, hasn't, what's, Thummel, Alexandre Ramos, Jay Hatfield, doesn't, Baker, Hughes, Darren Woods, Woods, Hatfield, Ramos, Peon, aren't Organizations: Bloomberg, Getty, Energy, U.S . Department of Energy, Exxon Mobil, Natural Resources, Wall, Exxon, Big Oil, America, Rystad Energy, Oil, Infrastructure Capital Advisors, Energy Department, Pioneer, CNBC, Chevron, PDC Energy, Noble Energy, Independent, Global, ExxonMobil, OPEC, Iran Locations: Midland , Texas, Brittany, Kansas City, Mo, U.S, Oklahoma, North Dakota, Alaska, Gulf, Mexico, Texas, New Mexico, Colorado, New York, American, Hatfield, Israel, Iran

Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas. In the late 1990s, the merger between Exxon and Mobil was valued around $80 billion. Exxon Mobil Corp. has been using some of that cash on acquisitions. In July the company announced that it was buying pipeline operator Denbury in an all-stock deal valued at $4.9 billion. In 2020 the company said it was buying Parsley Energy in an all-stock deal valued at approximately $4.5 billion.

Persons: Darren Woods, Scott Sheffield, Citi's Alastair Syme, Syme Organizations: Exxon Mobil, Natural Resources, Mobil, Exxon, XTO Energy, U.S . Energy Information Administration, Midland Basin, ExxonMobil, Pioneer, “, Exxon Mobil Corp, Parsley Energy, DoublePoint Energy Locations: West Texas, Texas, New Mexico, Delaware, Midland, U.S

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