Power Line: The epic oil glut in photos, leaked documents reveal more industry furloughs, and 3 clean-energy sectors the pandemic is accelerating
"God forbid we have a power outage and the hospitals cannot operate," he said. "God forbid, we had somebody interfere and shutdown entire charging stations." The grid was already going digital. Now there's a pandemic that makes it difficult to do anything in person. It benefits from both the need for resilient infrastructure and low-interest rates.
As I write this, a barrel of Brent is going for about $26. Sure, it's still down more than 60% since the start of the year, but hey! We're in positive double-digits. Refresher: OPEC Plus, an alliance of oil-producing countries led by Saudi Arabia and Russia, reached a historic agreement to cut production by nearly 10 million barrels per day, starting on May 1.
So do other production cuts that companies have been forced to make, simply because cheap oil means extracting it from the ground is no longer profitable. In the US, at least 300,000 barrels per day will be shut-in this month and next, according to the research firm Rystad Energy. Rystad expects the surplus to halve from 26.4 million barrels per day to 13.6 million bpd in May, and fall further to 6.1 million barrels per day in June.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Netflix's top power-player exec leaders of 2020: exclusive org chart - Business InsiderBusiness Insider spoke with current and former employees, as well as industry experts, to identify the Netflix executives with the most influence.
Leer más »
Netflix's top power-player executives of 2020: org chart of leaders - Business InsiderBusiness Insider spoke with current and former employees, as well as industry experts, to identify the Netflix executives with the most influence.
Leer más »
Michigan announces modern-day GI Bill for front-line workersFront-line workers in Michigan are being thanked for their work fighting COVID-19 with what the governor touted as a G.I. Bill that would grant them tuition-free college.
Leer más »
PG&E Ordered by Judge to Overhaul Tree Trimming, Line InspectionsA federal judge said PG&E must employ experts to identify trees growing too close to its power lines and check the work of contractors who trim them. He also required the company to improve inspections on its high-voltage transmission lines.
Leer más »
Smallest businesses get a few hours at head of coronavirus relief loan lineThe Small Business Administration said late Wednesday it had approved more than 960,000 loans totaling nearly $90 billion in this round of funding.
Leer más »
Share Your Story: Remembering COVID-19 Front-Line WorkersAs the COVID-19 pandemic spreads, many are being touched by the deaths of family and friends. NPR is planning a project to remember those who have died. Use this form to share special memories of your lost loved one.
Leer más »