Electricity company Dayton Power & Light said on Monday it would shut down two coal-fired power plants in southern Ohio next year for economic reasons, a setback for the ailing coal industry but a victory for environmental activists. Republican President Donald Trump promised in his election campaign to restore U.S. coal jobs that he said had been destroyed by environmental regulations put into effect by his Democratic predecessor, Barack Obama.
Category: Energy
Shell Plans Partial Exit From Canada’s Oil Sands; Will Hold 10% Athabasca Stake
Royal Dutch Shell said Thursday that it will significantly reduce its assets in Canada’s controversial oil sands area in the province of Alberta. Royal Dutch Shell said Thursday that it will significantly reduce its assets in Canada’s controversial oil sands area in the province of Alberta.
Avangrid: Cramer’s Top Takeaways
For an “Executive Decision” segment, Cramer sat down with James Torgerson, CEO of Avangrid , the wind-power utility which just posted a three-cents-a-share earnings beat. Shares of Avangrid are up 10% for the year with a 4% dividend yield.
Analysts’ Actions — Chevron, ConocoPhillips, Urban, Crown Castle and More
Here are Wednesday’s top research calls, including upgrades for Crown Castle and ConocoPhillips, and a downgrade for Urban Outfitters. Earnings estimates were raised for Chevron.
ConocoPhillips CEO Lance: Remain in Eagle Ford Rather than Permian
The Eagle Ford Shale is located in the south of Texas, while the Permian Basin in located in western Texas. ConocoPhillips will stick to production in the Eagle Ford Shale rather than in the Permian Basin, CEO Ryan Lance stated at the CERAWeek in Houston on Tuesday.
Exxon Pleases Trump With $20 Billion Shale Export Building Spree
Exxon Mobil Corp.’s $20 billion building spree in the heart of the U.S. chemical and refining industry will create 45,000 jobs and boost U.S. efforts to feed Asian demand, the company’s new leader said. President Donald Trump couldn’t be happier.
Trump Cheers Exxon’s Plan to Create 45,000 Jobs
Exxon Mobil will spend $20 billion by 2022 to expand its footprint along the U.S. Gulf Coast, creating more than 45,000 jobs. The world’s largest publicly traded oil company said Monday it will invest in refining and chemical-manufacturing projects at 11 proposed and existing sites, located in Texas and Louisiana.
Saudi Aramco’s Green Energy Push Seen Widening Appeal of IPO
Aramco is the world’s largest oil company, but when it sells shares next year its foray into renewables is what may lure investors who would otherwise be forced to stay away. Saudi Arabian Oil Co., as it is formally called, is considering investments of as much as $5 billion in renewable energy, part of the kingdom’s effort to reduce the amount of oil feeding domestic energy needs.
Jobs Take Center Stage of Climate-Change Debate in Trump Era
As the Trump administration sets to work gutting environmental regulations, the best weapon for battling climate change in the U.S. may be jobs. Many Republicans, including the president, have been unmoved by environmental or scientific arguments that federal policies should support clean energy as a way to combat global warming.
Exxon’s New CEO Drives Oil Giant Into Post-Tillerson Era
Woods replaced longtime Exxon chief Rex Tillerson, now the Secretary of State, beginning Jan. 1. Less than three weeks later, Exxon disclosed Tillerson’s final deal: a large acquisition of land in the fast-growing Permian Basin that will cost up to $6.6 billion. It was Exxon’s largest deal since it agreed to buy XTO Energy in 2009.
The Latest: New Mexico adds disclosures for solar contracts
The New Mexico House of Representatives has approved new disclosure requirements for providers of rooftop solar energy systems and related financing agreements. The House voted 56-6 on Tuesday on the bill from Democrat Rep. Debbie Rodella of Espanola.
Warming Up to First Solar as a Value Play
For the past several years, I’ve been enamored with the idea of slapping solar panels on our roof, drawing our power and heating our water from the ultimate renewable energy source, the sun. Don’t get me wrong.
Buffett Doubles Apple, Seeks Deals
At Warren Buffett’s direction, Berkshire’s Apple stake hit 133 million shares. But more than equity investments, Buffett seeks deals.
Chevron, Exxon Mobil Lag Crude Oil on Declining Momentum in the Energy Sector
Nymex crude oil has a positive but overbought weekly chart, while the energy sector ETF and shares of Chevron and Exxon Mobil have negative weekly charts. Remember when the ups and downs of Nymex crude oil correlated with the ups and downs of the stock market? This dynamic was a characteristic of the stock market for most of 2016.
Tellurian: Cramer’s Top Takeaways
Tellurian’s Charif Souki tells Jim Cramer he’s bullish on the ability of the U.S. to export more natural gas. In an “Executive Decision” segment, Cramer spoke with Charif Souki, former head of Cheniere Energy and now the co-founder and chairman of Tellurian , a stock that was up 12.1% today.
Exxon Mobil Reportedly Resumes Nigerian Layoffs
Exxon Mobil reportedly laid off 89 workers mainly at its Qua Iboe terminal in south-eastern Nigeria, according to an anonymous source. Workers in Nigeria ended a strike at the company’s headquarters in the country in December following the firing of more than 100 employees.
Big Batteries Coming of Age Prompt Bankers to Place Their Bets
The idea that giant batteries may someday revolutionize electrical grids has long enthralled clean-power advocates and environmentalists. Now it’s attracting bankers with the money to make it happen.
China’s CNPC Buys Stake in $22 Billion Abu Dhabi Oil Venture
China National Petroleum Corp. bought a stake in Abu Dhabi’s largest oil concession as the Middle Eastern emirate with 6 percent of global crude reserves looks increasingly to Asia, its biggest market, for investment to raise output capacity. Abu Dhabi National Oil Co.
Solar Energy Production Hit a Record High in 2016, So What’s Wrong With Solar Stocks?
GTM Research recently reported that its upcoming U.S. Solar Market Insight Report done with the Solar Energy Industries Association will reveal a 95% jump in installations last year to 14.6 GW. To put that number into perspective, that’s enough solar to power 2.4 million homes in the U.S. On top of the huge installation numbers, solar accounted for 39% of all new electricity installed in 2016, a record for the industry.
3 Stocks We Like More Than Kinder Morgan Inc.
Travis Hoium : Kinder Morgan is supposed to be a cash-flow machine for investors, acting as a toll collector on thousands of miles of oil and gas pipelines. At the end of the day, the company should be judged by its cash flow and dividend — which is no longer a great value at a 2.2% dividend yield.
Why Wind and Solar May Have to Fill In for America’s Crumbling Hydro Infrastructure
When politicians talk about “crumbling infrastructure,” it’s often hard to ascertain exactly what they’re talking about. Is it bridges falling down , an excessive number of potholes, or maybe aging airports? It could mean any number of things depending on who’s talking and who’s listening.
Gasoline Glut in New York Has Traders Sending Cargoes Abroad
Traders are lining up to export gasoline and diesel from New York Harbor, an area that normally relies on fuel imports from Europe and eastern Canada, shipping data compiled by Bloomberg show. While at least 6 cargoes that were headed to New York from Europe in January and early February were diverted to the Caribbean or the U.S. Gulf Coast, that wasn’t enough to stem the oversupply building up in terminals along the Eastern Seaboard.
3 Companies That Could Slash Their Dividends
A high dividend yield can be tempting, but investors always need to make sure that dividend is sustainable before jumping in. There’s nothing worse than buying a stock for the dividend only to see it slashed.
Chesapeake Energy Settles With Estate of Former CEO
Chesapeake Energy Corporation’s 50 acre campus is seen in Oklahoma City, Oklahoma, April 17, 2012. From a single 6,000-square-foot building in 1989, the multi-building complex today contains almost one million square feet of office space and includes … employee perks like on-site Botox treatments at the headquarters.
Mexico gets Trump’s trade ire. Japan and Germany, a pass
The focus on China is understandable: The U.S. trade deficit in goods with China is five times bigger than any other. The U.S. trade gap with Mexico , though, is smaller than the ones with Japan and Germany .
This Is Why Southwestern Energy Company’s Stock Cooled Off in January
Natural gas cooled off to start the year after weather prognosticators predicted that warmer temperatures were on the horizon. In fact, the price of gas fell nearly 10% in one day in early January — one of its worst trading days in almost three years — after forecasters expected that an arctic blast would be shorter than anticipated.
At $60,000 an Acre, Permian May Be Too Ritzy as Crude Rises
Record prices for drilling rights in the Permian Basin, the most fertile U.S. shale field, are prompting oil companies and private equity investors to look elsewhere for the next big gushers. Explorers eager to tap the basin’s mile-thick stack of oil-soaked rock layers have paid as much as $60,000 an acre.
Oil Is Still Whipsawing Investors and Triggers Abound for Another Collapse — How to Trade It
Year to date, the benchmark iShares US Energy Exchange-Traded Fund has declined 3.85%, and the iShares US Oil Equipment & Services ETF has fallen nearly 1%, compared with a gain of 3.16% for the S&P 500. For full-year 2016, the IYE gained 22.9%, and the IEZ 25.6%, compared with about 10% for the S&P 500.
A Close Look at Helmerich & Payne, Inc.’s Dividend Potential
The problem for investors, though, is that a dividend decision a few years ago obscures the income story here. This is one stock where the trend isn’t what it seems, and a little more analysis is needed to understand Helmerich & Payne’s true dividend potential.
Better Buy: TerraForm Global Inc vs. 8point3 Energy Partners LP
8point3 Energy Partners was supposed to be a way for First Solar and SunPower to fund solar projects in the U.S. and TerraForm Global was central to SunEdison’s growth plans abroad. But since their launch, both yieldcos have been a disappointment for investors.
Wall Street’s Love Affair With Energy Heats Up as Rigs Roll Out
Wall Street is throwing the most money at U.S. energy companies since at least 2000 amid growing confidence that the industry is emerging from the worst downturn in a generation. Energy firms raised $6.64 billion in 13 equity offerings in January, drawn in by a rich combination of oil prices consistently above $50 a barrel and a rush to drill that’s doubled the rigs in use in the U.S. and Canada since May. The biggest change from last year: Oilfield servicers that provide the rigs, fracking equipment and sand used by drillers.
Cheniere Is Ready for Another Leg Up
Cheniere Energy has one of these chart patterns that tells us this stock is ready to pop higher. We liked the strong move up just a couple weeks back, and now we see some consolidation that forms a bullish pennant pattern.
Energy Transfer to Get Dakota Access Pipeline Approval From U.S.
The controversial Dakota Access pipeline is set to gain the final go-ahead for completion after President Donald Trump asked for a speedy approval. The U.S. Army said it will grant Energy Transfer Partners LP the easement it needs to finish the line that will ship almost half a million barrels of crude a day from North Dakota’s shale fields to refineries across the Midwest and on to the Gulf Coast.
Schlumberger’s Pullback Could Lead to a Rebound: Charts
Schlumberger’s post-earnings slump has driven the stock down to a key support area. Here’s how to trade it.
Kinder Morgan Is Primed for an Upside Play
This updated daily bar chart of KMI, below, shows that prices meandered sideways around $22 since our Nov. 11 updated. The stock has been testing the $23 level recently — and it looks like an upside breakout can occur at any time.
Williams Gets U.S. Approval for $3 Billion Shale Gas Line
Williams Cos. won U.S. approval to build its $3 billion Atlantic Sunrise natural gas pipeline expansion in the Northeast, ending a review that ran almost two years and forced delays in the project.
Williams Gets U.S. Approval for $3 Billion Shale Gas Line
Williams Cos. won U.S. approval to build its $3 billion Atlantic Sunrise natural gas pipeline expansion in the Northeast, ending a review that ran almost two years and forced delays in the project.
Williams Gets U.S. Approval for $3 Billion Shale Gas Line
Williams Cos. won U.S. approval to build its $3 billion Atlantic Sunrise natural gas pipeline expansion in the Northeast, ending a review that ran almost two years and forced delays in the project.
The U.A.E. Sets Its Sights on Biggest Solar Farm Ever
The U.S. solar market has moved away from massive solar farms in recent years, favoring smaller developments that plug into the grid a little more easily. But international markets aren’t shying away from giant solar projects, particularly in desert locations.
This Week in Solar
We’re still a few weeks away from investors getting a peek into fourth-quarter earnings in the solar industry and what management has to say about 2017. In the meantime, we’re seeing interesting trends in some of the industry’s most important markets and from its most visible companies.