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Oil recovers to above $110 after biggest fall in 5 weeks

stocks

By Florence Tan SINGAPORE, Dec 10 (Reuters) – Brent crude rose toward $110 a barrel on Tuesday, recouping some of the previous session’s sharp losses, as data from China reaffirmed signs of stabilising growth and fuel demand in the world’s second-largest oil consumer.  China’s implied oil demand rose 1.5 percent in November to about 9.94 million barrels per day (bpd) ...

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Railroad industry thriving due to shale oil boom

Railroad emergance

By Paul Monies The boom in oil and natural gas drilling from shale means the nation’s railroads are handling more unit trains of crude oil and shipments of sand used in hydraulic fracturing, a vice president for BNSF Railway Co. said Tuesday. Dean Wise, vice president of network strategy for the Fort Worth, Texas-based railroad, said his company also launched ...

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BNSF a big winner in Obama’s high-speed rail program

bnsf rose dalrymple

WASHINGTON — President Barack Obama’s high-speed rail program was supposed to deliver faster and more frequent passenger trains to communities across the country. But some of the $10.1 billion in funding for that program could also benefit one of the nation’s largest freight railroads. Washington state received $781 million from the Obama administration’s 2009 economic stimulus to improve passenger rail ...

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Sen Hoeven says Keystone Pipeline brings jobs

U.S. Sen. John Hoeven, R-N.D., mentioned getting the Keystone XL oil pipeline constructed from Canada would offer a protracted-time period supply of nationwide power safety. "The Keystone XL pipeline is an important power infrastructure challenge with the intention to create forty two,000 jobs and ship 830,000 barrels of oil per day to U.S. refineries, together with one hundred,000 barrels from the U.S. Bakken area of North Dakota and Montana," Hoeven mentioned in Fargo Thursday. Hoeven, a member of the Senate Power Committee, stated he's working to motivate the federal govt to log off on Keystone XL, which TransCanada plans to construct from Alberta. Keystone XL was once proposed through TransCanada greater than 5 years in the past. The undertaking desires federal approval as a pass-border pipeline. Hoeven stated the pipeline would convey extra earnings to native, state and federal governments. President Obama mentioned he'd weigh the mission in opposition to its environmental footprint. If constructed, the pipeline would run thru Montana however no longer North Dakota.

By Jason Spiess FARGO, ND – U.S. Sen. John Hoeven, R-N.D., said mentioned getting the Keystone XL oil pipeline constructed from Canada would offer a protracted-time period supply of nationwide power safety. “The Keystone XL Pipeline is an important power infrastructure challenge with the intention to create 42,000 jobs and ship 830,000 barrels of oil per day to U.S. refineries, ...

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Market News: Natural Gas Shows First Loss in Nine Sessions

stocks

By: David Bird NEW YORK–Natural-gas futures fell Tuesday for the first time in nine sessions, but held near six-month highs amid mixed near-term weather signals. Market participants said winter weather is the driving force now and confirmation that in coming days temperatures in key markets will turn much colder could reignite the rally. “We’re seeing a bit of a pullback ...

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Obama wants renewable energy boosted 20 percent

WASHINGTON (AP) — Saying the government should lead by example, President Barack Obama is ordering the federal government to nearly triple its use of renewable sources for electricity by 2020. Obama says the plan to use renewables for 20 percent of electricity needs will help reduce pollution that causes global warming, promote American energy independence and boost domestic energy sources ...

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Weekly Crude Oil Market Update

market

Weekly Crude Oil Market Update The Trend Continues This past week crude oil saw more downward pressure and a continuation of the trend after bouncing from the lows. Crude started to try and test the upper end of the charts late last week and looked like it might see more buyers take prices higher in the short term. The bounce ...

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Amazon testing delivery with drones, CEO Bezos says

Dec 1 (Reuters) – Amazon.com Inc is testing delivery packages using drones, CEO Jeff Bezos said Sunday on the CBS television program “60 Minutes.” Bezos said the drones, unmanned vehicles that fly through the air, could deliver packages that weigh up to five pounds (2.3 kg). That represents roughly 86 percent of packages that Amazon delivers, he said. The drones, which would ...

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