Energy

Oil Markets

Oil prices fell sharply to new multiyear lows as futures trading reopened Sunday evening in New York, a signal that traders fear an escalating clash between Saudi Arabia and Russia will add a flood of crude into already well supplied global energy markets.

Markets

Berkshire Hathaway has backed out of financing a major gas project in Quebec, prompting worries that international investors are increasingly shunning Canada after protests over another energy project.

Commodities

Crude prices pared most of their earlier gains Tuesday after the Federal Reserve cut interest rates in a bid to stem the potential economic fallout of the coronavirus epidemic.

Politics

Responding to complaints from developers of wind and solar farms, Gov. Andrew Cuomo has proposed a faster system for siting renewable energy projects to help New York meet its goal of reducing carbon emissions.

U.S.

Environmental groups led by the Natural Resources Defense Council sued the Trump administration over its decision to keep energy-efficiency requirements for household incandescent lightbulbs at their current level.

Middle East

Saudi Arabia’s King Salman tapped former Energy Minister Khalid al-Falih to head a newly created investment ministry as part of a cabinet shuffle, calling back a high-profile figure as the government struggles to lure foreign capital to drive an economic transformation.

Canada

As prices for Canada’s brand of heavy crude oil have plunged, more than a quarter of Calgary’s office space sits empty and the unemployment rate is the highest among the country’s largest cities.

Business

A Canadian mining company shelved a proposed multibillion-dollar energy project that the federal cabinet was days away from issuing a verdict on, citing political uncertainty about oil-and-gas development in the resource-rich country.

U.S.

Some of the lowest prices for crude oil and natural gas in years are saving many Americans money, and could help cushion the U.S. from the economic fallout related to the coronavirus.

Commodities

Royal Dutch Shell, the global leader in liquefied natural gas sales, said coronavirus was hurting demand for the supercooled fuel and prompting it to reschedule or locate new buyers for cargoes previously allocated to Chinese buyers.

Risk & Compliance Journal

Alfonzo Eliezer Gravina Munoz, 57 years old, allegedly received about $590,000 in bribes to help U.S. businessmen secure energy contracts with PdVSA from 2007 to 2014, the Justice Department said. He didn’t report the bribes as income on his tax return, according to prosecutors.

Latin America

President Andrés Manuel López Obrador is resisting pressure to restart auctions for oil drilling rights and allow private firms to have a greater role in the oil industry, even as his government grapples with a stagnant economy and weak investment.

The Future of Everything | Energy

Living solar power cells, household microgrids and more projects in the works for the decentralized grid of the future.

Economic Data

The consumer-price index—which measures changes in how much Americans are paying for everyday items ranging from clothes to grocery items—rose a seasonally adjusted 0.1% in January, the Labor Department said Thursday.

Wilczek's Universe

Unusual changes in the atmosphere and temperature of distant planets might be our first clue to the existence of life beyond Earth.