Money Matters - Simplified

Energy

Saudi prince wants crude oil prices to come down

Prince Alwaleed bin Talal from the royal family of Saudi Arab said during an interview to CNN that his country would like to see the oil prices between $70 and $80 so that the US and the European nations do not accelerate their search for alternate sources of energy.

Power restored to Texas City after major blackout

A massive blackout plunged Texas City and La Marque into darkness early Friday morning, affecting thousands of people and businesses in the neighboring cities.

Shell to go ahead with floating LNG project

It will surely be extremely large, approximately the size of four football fields put together. That’s what Royal Dutch Shell intends to build, as it bets big time on liquefied natural gas (LNG) in Asia.

No power backup for Texas Refineries during repair of transmission lines

Texas City refinery

Texas refineries may not get power backup in the coming week as the Texas New Mexico Power Co. is going to conduct repairs and maintenance of its transmission lines.

TNMP spokeswoman, Cathy Garber, in a telephonic interview, said that the Texas refineries will not have access to the backup supply because Texas New Mexico Power Co. workers will clean dust and residue from the insulators and they will also coat them with a sealant. The whole process will take about two to three weeks.

Toyota and Microsoft shake hands for energy efficient electric cars

Toyota President Akio Toyoda and Microsoft CEO Steve Ballmer announced through a joint webcast about the creation of Toyota Media Service to provide data services initially to the Toyota Prius drivers. The companies will be investing $ 12 million in this joint venture.

BP loses personal data of oil spill claimants

In the news again

Just when things could not get any worse for BP, they actually have. Barely had the company recovered from the international outburst over its April 2010 oil spill in the Gulf of Mexico, it is again in the news for all the wrong reasons.

Is Allegheny Energy's Management Creating Value?


Warren Buffett's partner, Charlie Munger, once said, "I think I've been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I've underestimated it. And never a year passes but I get some surprise that pushes my limit a little farther."

This Just In: Upgrades and Downgrades

 At The Motley Fool, we poke plenty of fun at Wall Street analysts and their endless cycle of upgrades, downgrades, and "initiating coverage at neutral." So you might think we'd be the last people to give virtual ink to such "news." And we would be -- if that were all we were doing.

 

Solar Costs Getting Harder to Cut

 The fight for lower costs in solar is a never-ending battle. Those who can lower costs will survive; those who can't are headed to the scrap heap. So every quarter we watch to see where costs are trending and who is moving into a better position in the industry. Where do we stand right now?

 

Crude oil prices rise after OPEC meeting

New York -- Crude oil prices rose over the weekend in New York after the Organization of Petroleum Exporting Countries agreed not to change current oil production quotas.

After a meeting of oil ministers in Ecuador Saturday, OPEC said the economic forecast called for lower oil demand in 2011 compared to 2010.

The risks to demand included "possible currency conflicts and fears of a second banking crisis in Europe," OPEC said in a news release.
The global outlook also included "lagging private consumption as well as persistently high unemployment." However, with "ample spare capacity throughout the oil supply chain ... (OPEC) agreed to maintain current oil production levels."