Hundreds with oil company get layoff notices

The price of oil continues to drop, and that now means mass layoffs for oil workers in Bakersfield. The Employment Development Department showed 700 people to be laid off by Ensign Energy Services, but that bad news came very suddenly for families, even with the threat of low oil prices looming overhead for months. “I’ve […]

Iran says Saudi Arabia should move to curb oil price fall

Falling world oil prices will hurt countries across the Middle East unless Saudi Arabia, the world’s biggest crude exporter, takes action to reverse the slump, Iran’s deputy foreign minister told Reuters. Hossein Amir Abdollahian described Saudi Arabia’s inaction in the face of a six-month slide in oil prices as a strategic mistake and said he […]

The Israeli startup that turns air into water

Arye Kohavi’s Water-Gen has developed technology to meet a basic and universal need: Making water available everywhere at a reasonable price. A drab building in Rishon Letzion’s industrial zone hides one of Israel’s most surprising and innovative enterprises. The offices of this startup company are stashed away at the back corner of the second floor, […]

Saudi Arabia’s Half-Off Sale On Crude Oil

Saudi Arabia’s Half-Off Sale on Crude Oil. Global Demand Strong Despite Weakness in OECD. Supply Issues Remain in the Hands of Saudi Aramco. Why would anyone sell seven widgets for $50 a widget (total revenue: $350) when they could sell six of the widgets for $100 per widget (total revenue: $600) and just keep the […]

The Ironies of Oil

Gasoline prices are on the verge of crashing down to below $2 a gallon. The price of oil may dip below $50 a barrel. Even with renewed demand from a global economic resurgence, energy prices continue to fall. The U.S. has suddenly become the world’s largest combined producer of oil and natural gas. That fact […]

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