Projection is blaming someone else for your own bad behavior. We saw a classic case of projection in Thursday’s presidential debate, when President Biden—who is overseeing annual budget deficits of $2 trillion—asserted that his predecessor, Donald Trump, […]
Shares in BP fell by as much as four percent this morning after it warned it was expected to post an impairment of up to $2bn (1.6bn) and was operating under “significantly” lower refining margins. […]
A government compromise in Berlin envisions radical changes to the country’s renewables subsidy approach and details a fleet of backup power plants to underpin the country’s coal exit. Designed in the late 1990s, Germany’s […]
Daily Standup Top Stories South Dakota clashes with Minnesota on clean energy, coal plant closures July 8, 2024 Mariel Alumit SIOUX FALLS, S.D. – A political border war between South Dakota and Minnesota on how to […]
By Wolf Richter for WOLF STREET. We have been discussing here for a while how the massive losses in commercial real estate, particularly in the office sector, have been spread far and wide, spread over equity and debt, […]
July 8 (Reuters) – Oil prices eased about 1% to a one-week low on Monday as Hurricane Beryl shut U.S. refineries and ports along the Gulf of Mexico, and on hopes a possible ceasefire deal […]
OKLAHOMA CITY, July 08, 2024 (GLOBE NEWSWIRE) — Devon Energy (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire the Williston Basin business of Grayson Mill Energy in a transaction […]
By Wolf Richter for WOLF STREET. Location, location, location, I mean, country, country, country is the mantra in real estate. We’re going on a wild ride across sales prices of existing homes (“dwellings”) of all types in the […]
Quantitative Tightening so far has removed 41% of Treasury securities and 29% of MBS that pandemic QE had added. By Wolf Richter for WOLF STREET. Total assets on the Fed’s balance sheet dropped by $34 billion in June, […]
It’s one of the areas where trading houses — who have long coveted the refining and distribution assets that help drive oil majors’ mega trading earnings — are investing huge returns from the most profitable […]
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