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Author Archives: Ben Karkela

Oil prices touch multi-week lows, as supply worries grow

LONDON – Oil prices fell to their lowest in six weeks on Tuesday, as mounting worries over persistent oversupply grew ahead of U.S. data that was expected to show another increase in crude inventories. Brent December futures fell 82 cents to $47.72 a barrel by 1338 GMT, their lowest since mid-September, after settling the previous session down 45 cents. U.S. ...

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Economist: U.S. recession unlikely until early 2019

Consumers and businesses won’t have to grapple with another recession until 2019 and a major downturn is unlikely for at least another 15 years, a Manchester, N.H.-based economist said Friday in Colorado Springs. A weakening dollar, an economic recovery in Europe and stronger growth late next year in China will trigger better economic conditions nationwide in 2016, particularly for businesses ...

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U.S. diesel demand flat as freight growth slows: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – U.S. diesel consumption has been flat this year after growing strongly in 2013 and 2014, mirroring a slowdown in inland freight movements and the worldwide slowdown in the raw materials sector. Diesel consumption measured by the Energy Information Administration’s data on distillate supplied is closely ...

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Welding is bigger in Texas

Texas employs more than 50,000 welders, making it the welding capital of the United States. More than 1 in 10 welders in the U.S. calls Texas their home. Three of the top 10 metropolitan areas in the U.S. for welding careers are located in Texas. Houston is No. 1 with nearly 18,000 jobs. The Lone Star State has a diverse ...

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New technology reduces damage to fracking pumps

Finding a solution to reduce maintenance costs at hydraulic fracturing sites paid off for Energy Recovery Inc. The California-based company developed a new hydraulic fracturing manifold system and recently entered into an exclusive 15-year, $125 million deal with Schlumberger, the world’s largest oilfield services provider. The VorTeq hydraulic pumping system is the first product engineered to increase runtime and reduce ...

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Israel gas agreement moves another step nearer

The authority of Minister of Finance Moshe Kahlon over the natural gas sector will be given to Minister of Tourism Yariv Levin at the upcoming cabinet meeting, sources inform “Globes.” The transfer of authority is another step on the road to the natural gas plan, which has been treading water for several months. At the same time, another problem involving ...

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