Japan’s Sumitomo Corporation, one of the largest trading houses in Asia, announced a considerable impairment charge of its US tight oil assets in the Permian Basin. It was the largest loss for the company since 1998 and wiped out ~96% of its profit for the year. Although there were two other impairments, they paled in […]
America has come to a crossroads with regard to energy. Should we rely heavily on natural gas? Or should we use natural gas as a bridge fuel to alternative forms of power such as wind, nuclear and solar. These questions have serious long-term implications for every consumer of energy in the U.S.