After three years of decline, greenhouse-gas emissions are rising again, largely because of increased coal use. The best chance for the industry to erase its 'dirty coal' image is through carbon capture, which is making progress.
ExxonMobil Canada and Imperial Oil will pay $720 million for 226,000 acres of ConocoPhillips' oil sands property in Canada. The property exists nearly 100 miles to the south of Fort McMurray in Alberta, and entails of ConocoPhillips entire stake in the Clyden oil sands in the Athabasca Region.
Filings with the Securities and Exchange Commission revealed recent investment decisions made by Berkshire Hathaway, the investment group led by Warren Buffett. In addition to buying and selling stocks in its $85 billion U.S. stock portfolio, the company owns 80 other companies, some of which account for more than half its income.
Stronger natural gas prices are good news for some and bad news for others, Rapier writes. Given their heavy investments in natural gas, ExxonMobil and ConocoPhillips, along with Chesapeake, stand to benefit from the recovery in natural gas prices.
Oil companies should no longer be valued by their reserves. New drilling technologies like fracking and horizontal drilling mean oil companies operate more like advanced manufacturers, which have much higher price-earnings ratios.
Venezuela's oil is too big for major energy companies to ignore and too risky to plunge into. Eventually, post-Chávez Venezuela will choose pragmatism over idealism.
With Hugo Chávez's passing, some are looking for a new era in Venezuelan oil. But Venezuela's role in the global oil market has diminished over the years and some expect little change in Venezuelan oil after Hugo Chávez.