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Author Archives: Ben Karkela

Warm weather worsens glut of US gas, heating oil: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Unusually mild weather across the United States this autumn has sharply reduced heating demand and contributed to the substantial oversupply of both natural gas and heating oil. Heating demand has been 27 percent lower than the long-term average so far this heating season according to ...

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Unsold oil stuck on tankers threatens world market gridlock

LONDON – As land storage sites worldwide reach brimming point due to a supply glut, tens of millions of barrels of oil are sitting on tankers looking for homes – threatening logistical paralysis. The International Energy Agency on Friday said stored oil has hit 3 billion barrels. Traders say the excess of crude is leaving tankers queuing at major ports ...

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Cruz says he was standing up to Washington before Trump

KINGSTON, N.H. — Republican presidential candidate Ted Cruz framed himself Wednesday night as the political heir to Donald Trump should the billionaire businessman fail in his effort to win the party’s nomination, saying Trump’s supporters should come to his campaign. Trump “has helped frame the central issue of this primary as ‘who will stand up to Washington,'” the Texas senator ...

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Energy advocacy group to open mobile office in N.M.

FARMINGTON, N.M. — Consumer Energy Alliance — a Houston-based pro-energy group with chapter offices in Texas, Alaska and Florida — plans to become more actively involved in energy policy and advocacy in New Mexico. Shawn Martini, CEA communications director, said the nine-year-old group — that advocates for energy policy that “ensures affordable energy for consumers” — has taken a greater ...

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Houston company rewards employees with $100K bonus

Despite steep investment cuts and project cancellations from oil companies around the world, one Texas company awarded employees with a sizable bonus. Hilcorp Energy Co. gave every eligible employee a cash award of $100,000 for meeting its goals set five years ago. The Houston-based energy company’s “Dream 2015” plan was a five-year incentive program that began in 2011 and awarded ...

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Trump takes hits in debate; Kasich joins fray

This one didn’t quite go according to plan. And that left even Donald Trump sputtering for a moment during Tuesday night’s debate of Republican presidential candidates in Milwaukee. Defying expectations, it wasn’t retired neurosurgeon Ben Carson having to answer for his seemingly contradictory statements. It wasn’t former Florida Gov. Jeb Bush further sinking his own campaign. It wasn’t attacks on ...

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Baker Hughes lays off 67 workers

FARMINGTON — Baker Hughes Pressure Pumping on Southside River Road in Farmington laid off 67 workers on Tuesday citing low oil and gas prices on the commodities market. Robert “Kevin” Jones, district manager for Baker Hughes Pressure Pumping, said in a phone interview that he learned of the layoffs Tuesday morning in a text message. Jones is on short-term disability ...

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