North Dakota oil production on the upswing again but may plateau this fall
North Dakota’s oil and gas production soared 16% in July as operators reopened wells that had been shut-in earlier this year due to the economic downfall caused by the coronavirus pandemic.The increase was expected, and another jump is anticipated for the remainder through this month as more shut-in wells are retapped.But unless oil prices improve significantly — and that doesn’t seem likely — oil production is then likely to plateau and possibly fall, Lynn Helms, director of the North Dakota’s Mineral Resources Department, told reporters.“We don’t see pre-COVID demand coming back until proba...
Star Tribune (Minneapolis)
Russian-born Internet investor Yuri Milner donates $10 million to Wharton for Israeli students
Russian businessman and Internet investor Yuri Milner is donating $10 million to the Wharton School to create scholarships for Israeli MBA students, the University of Pennsylvania said Tuesday.Milner, who made his first Silicon Valley investments with money from a well-connected Russian oligarch, Alisher Usmanov, has become an internationally-known venture capitalist. He co-founded Internet company Mail.ru, which went public in 2010. In 2011 Wired magazine called Milner “the world’s most successful investor in social media.”On Tuesday, Milner and his wife Julia made a $10 million commitment to...
The Philadelphia Inquirer
Commentary: A fracking threat we can't afford
It comes as no surprise that the Trump administration has fast-tracked a dangerous, untested system of transporting highly explosive fracked gas by trucks and trains through local communities from Pennsylvania down the Delaware River to then be shipped overseas. What is shocking is the level of secrecy that the proposed fracking export facility in Gibbstown, New Jersey, has been cloaked in by the governors of New Jersey, New York, Pennsylvania and Delaware. They have gone along with the plan without answering important questions about dangers the facility poses to public health and potential i...
New York Daily News
Dow Down 400+ Points as Bears Target Tech, Energy; Stimulus Hopes Fade
Investing.com -By Yasin EbrahimInvesting.com – Wall Street plunged Thursday as big tech gave up early-day gains and signs of a slowdown in the labor market raised concerns about the strength of the recovery at a time when Congressional efforts to make progress on a stimulus package failed to win enough votes to proceed.The Dow Jones Industrial Average fell 1.45%, or 406 points. The S&P; 500 was down 1.77%, while the Nasdaq Composite slumped 2%.In a sign that the resilience in tech could be under threat, Apple (NASDAQ:AAPL) pared gains to close nearly 3% lower as investors seemingly take profit...
Trump signs order banning oil drilling off Florida's Atlantic coast
FORT LAUDERDALE, Fla. — President Donald Trump kicked off the home stretch of the 2020 campaign with a trip to South Florida, where he promoted himself as a champion of the environment and announced a ban on oil drilling off the state’s Atlantic coast.“My administration is proving every day that we can improve our environment while creating millions of high paying jobs,” Trump said. “To my administration, environmental protection is a sacred obligation.”He claimed Democrats would use the environment as an excuse to pursue a socialist agenda. And, Trump said, Democratic presidential nominee Joe...
A Pennsylvania county voted for Obama twice. But it's 'Trump Country' now
EXETER, Pa. — As traffic made its way down Schooley Avenue on Tuesday, the giant Trump signs on Jeff Davis’ porch were impossible to miss. “Make America Great Again,” one read. “No more bulls —,” proclaimed another.Vice President Mike Pence would hold a rally down the road a few hours later in this former coal mining town, but Davis wasn’t going. He suffers from rheumatoid arthritis and says his immune system is “down to nothing.” Standing on his front lawn, Davis, 57, motioned to his wife and daughter on the porch.“I’m still very leery on the COVID thing,” he said. “Mostly, they go food shopp...
The Philadelphia Inquirer
Venezuelan charged in Miami money laundering case gunned down by motorcycle assassin
MIAMI — A Venezuelan businessman charged in Miami with laundering millions of dollars from oil contracts was gunned down Tuesday by a motorcycle assassin in Venezuela, according to authorities.Leonardo Santilli died from several gunshot wounds in what police described as a possible professional hit, authorities said.According to media reports, the businessman was inside his Toyota 4Runner SUV in a parking lot outside a pharmacy in the seaside city of Lecherias — east of Caracas — when his assailant approached the vehicle on a motorcycle around 5 p.m.Witnesses said the assailant fired as many a...
Former Venezuelan official surrenders to feds in $1.2 billion money-laundering case
MIAMI — After two years under U.S. indictment, a former top lawyer in Venezuela’s oil ministry surrendered Monday in Miami federal court for his alleged supporting role in a massive corruption and money-laundering scheme to steal $1.2 billion from the Venezuelan government, authorities said.Carmelo Urdaneta Aqui, the former legal counsel to the Venezuelan Ministry of Oil and Mining, agreed to turn himself in and was escorted by federal agents on a flight to Miami over the weekend. Urdaneta is accused of accepting bribes along with other officials in the state-owned oil company known as PDVSA f...
Lockdown should have cleared up Jakarta’s air. Coal plants kept it dirty
JAKARTA — Pollution from nearby coal-fired power plants is choking the citizens of Jakarta, slashing years off their life expectancy, and turning the city into one of the most polluted capitals in the world, a new report shows.The U.S. Embassy’s monitoring stations, which track levels of harmful PM2.5 particles in the air, recorded 172 days with unhealthy air quality in 2019 — nearly half the year. That was up from 101 days in 2018.A new report by the think-tank Centre for Research on Energy and Clean Air (CREA) shows that the congregation of coal plants surrounding Jakarta contributes to this...
Review: 'Soul Full of Coal Dust,' by Chris Hamby
“Soul Full of Coal Dust” by Chris Hamby; Little, Brown (448 pages, $30)———For generations, miners have known about the deadly effects of breathing tiny particles of coal dust created by drilling and blasting the earth. Black lung disease, also known as “coal miners’ curse,” has inspired countless ballads and workers’ songs.In the 1960s, bluegrass singer Hazel Dickens composed this dirge about her brother, who died of the disease:“Black lung, black lung, oh, your hand’s icy cold,As you reach for my life and you torture my soul.”Yet this affliction that slowly attacks a person’s ability to breat...
Star Tribune (Minneapolis)