> Fossil Fuels

Opinion: Adobe’s stock got slammed for spending $20 billion on Figma. But it now owns a rare company.

Adobe beat revenue and profit expectations, and on the same day announced it would acquire a smaller but faster-growing rival in online design-collaboration tools. The stock market rewarded the company by pushing down its shares ADBE, -3.12% to the lowest level in almost three years.  Investors punished the company not for its earnings report, released … Read more

Oil Royalty and Mineral Companies Sitio and Brigham to Merge in $4 Billion Tie-Up

Sitio Royalties Corp. and Brigham Minerals Inc. have reached a deal to merge to form one of the largest publicly traded mineral and royalty companies in the U.S., valued at about $4 billion, the companies said Tuesday. Sitio and Brigham, like the rest of the industry, both have had increasing profits in the past few … Read more

European Gas Prices Surge on Nord Stream Shut Down

European energy prices surged after Russia shut down natural-gas flows through a major pipeline, threatening to add to economic woes for businesses and households across the continent. Natural-gas futures in northwest Europe, which reflect the cost of fuel in the wholesale market, jumped more than 30% in early trading Monday. They remain below the all-time … Read more

Russia Signals Opposition to OPEC+ Oil-Production Cut

Russia doesn’t support an oil-production cut at this time, and it is likely OPEC+ will keep its output steady when it meets Monday, people familiar with the matter said, as Moscow maneuvers to thwart Western attempts to limit its oil revenue following its invasion of Ukraine. Russian opposition to a production cut highlights a debate … Read more

Centennial Coal to require bilateral approval for mine near Lithgow in nationally significant environment

Environmentalists are warning a coal mining company’s proposal to reopen and extend a dormant underground operation in New South Wales could cause “significant and unpredictable” damage. Key points: Centennial Coal must receive bilateral approval for a mining project determined to potentially have nationally significant impacts on the environment  Its impacts on world and national heritage, threatened … Read more

Here are the worst (and best) performing stocks of August and for 2022

After a strong showing in July, when stock indexes rebounded from their 2022 lows of June, U.S. equities abruptly reversed course in August. Here’s the damage: Index Price change – July 29 through Aug. 30 Price change – 2022 through Aug. 30 Price change – 2021 S&P 500 SPX, +0.06% -3.5% -16.4% 26.9% Dow Jones … Read more

Texas Releases List of Banks That Are Bullying Fossil Fuels

Pumpjacks between Midland and Odessa, Texas.Photo: Eli Hartman/Odessa American (AP) Texas is standing up to bullies—big banks that bully oil and gas, that is. This week, the Texas’s comptroller’s office released a list of financial firms and funds it has determined are “boycotting” the oil and gas industry, directing pensions and other state funds to … Read more

Warren Buffett Not Expected to Bid for Control of Occidental Following Approval for Bigger Stake

Warren Buffett’s bid to boost his big stake in Occidental Petroleum Corp. OXY 9.88% even further isn’t expected to serve as a prelude to a full takeover of the resurgent energy company by the widely watched billionaire, at least for now. In a regulatory filing Friday, the Federal Energy Regulatory Commission said that Mr. Buffett’s … Read more

Warren Buffett’s Berkshire Hathaway Cleared to Buy as Much as Half of Occidental’s Shares

In a regulatory filing Friday, the Federal Energy Regulatory Commission said that Berkshire Hathaway had asked for and received its permission to buy up to 50% of the driller’s shares. Berkshire has been loading up on Occidental’s shares this year, amassing roughly 20% of the company’s stock, public filings show, leaving many analysts to speculate … Read more

City of Sydney to consider ban on fossil fuel advertising to fight climate change, pollution

Ads that promote coal, oil and gas could soon be banned from hundreds of buildings and public spaces in Sydney. Key points: The City of Sydney is considering a ban on fossil fuel ads on its properties and infrastructure The council controls a significant network of outdoor advertising space in Australia A coalition of communications professionals wants a … Read more