Edward's Feed
Jan 20, 2015

U.S. oil firms see drilling slowdown continuing as prices slump

NEW YORK, Jan 20 (Reuters) – Oil drilling in the United
States will continue to fall in the first half of this year, and
could even halve, according to major oil service companies
looking to past slowdowns as a guide.

Baker Hughes Inc and Halliburton Co, two of
the largest U.S. oil service firms, were outwardly confident at
the release of quarterly earnings on Tuesday. They have
weathered downturns in the past, and this time is no different,
they said.

Jan 16, 2015

Amid U.S. oil price crash, cost cutting ripples through industry

NEW YORK, Jan 16 (Reuters) – Any lingering doubt about the
depth of the crisis facing the U.S. energy industry is quickly
evaporating as even the biggest firms slash spending amid the
steepest oil price crash since the recession, sending ripples
across the vast sector.

In a stark sign of how a sudden, 60 percent drop in oil
prices is biting, oil services giant Schlumberger Ltd on
Thursday said it will reduce spending this year by 25 percent
and fire 9,000 workers worldwide, surprising investors with the
size of the cuts.

Jan 12, 2015

As oil plummets, how much pain still looms for US energy firms?

NEW YORK, Jan 12 (Reuters) – With nearly a quarter of U.S.
energy shares’ value wiped out by oil’s six-month slide,
investors are wondering if the sector has taken enough
punishment and whether it is time to pile back in ahead of
earnings reports later this month.

The broad energy S&P 1500 index gained more than 4
percent over the past month, suggesting many believe markets
have already factored in the pain caused by oil prices tumbling
by more than half since June below $50 a barrel.

Dec 22, 2014

Suspected New York police killer had violent, troubled past

NEW YORK (Reuters) – Shortly before 3:00 p.m. on Saturday, a 28-year old with a long criminal past approached two strangers on a commercial street of Brooklyn’s Bedford-Stuyvesant neighborhood.

“Watch what I’m going to do,” he said, before firing four rounds into a nearby police cruiser, killing two officers in what New York law enforcement officials later described as an “assassination.”

Dec 22, 2014

Police officers’ slaying raises pressure on New York mayor

NEW YORK (Reuters) – New York Mayor Bill de Blasio faced the biggest crisis of his political career on Sunday after a gunman killed two police officers in an attack intended to avenge recent police killings of unarmed black men in the United States.

New York police officers turned their backs on de Blasio in protest during a news conference and their union said the mayor had blood on his hands after Saturday’s shooting. Police investigators have said the killings were the work of a 28-year-old black man with a long arrest record who may have had past mental troubles and who warned of his intentions on social media.

Dec 21, 2014

Two N.Y. police officers slain in apparent retribution attack

NEW YORK, Dec 21 (Reuters) – A gunman shot dead two New York
City police officers in what officials called an
“assassination”, hours after warning on social media that he
planned an attack in retribution for recent U.S. police killings
of unarmed black men.

Mayor Bill de Blasio on Sunday ordered flags flown at half
staff around the city. New York City’s main police union harshly
criticized the city’s first Democratic mayor in two decades for
being insufficiently supportive of the department during recent
waves of anti-police violence.

Dec 17, 2014

New York bans fracking after health report

ALBANY, NY/NEW YORK, Dec 17 (Reuters) – New York Governor
Andrew Cuomo’s administration said on Wednesday it will ban
hydraulic fracturing in the state after a long-awaited report
concluded that the gas-drilling method poses health risks.

New York Environmental Commissioner Joseph Martens said at a
cabinet meeting he will issue an order early next year banning
fracking, which has been under a moratorium since 2008. Once
that happens, New York will join Vermont as the only states to
completely prohibit fracking.

Dec 5, 2014

Little money for Ferguson, scene of rare U.S. suburban riots

By Edward McAllister and David Greising

(Reuters) – Sonya Roberts’ liquor store in Ferguson, Missouri was vandalized during rioting in August and November, and with no government aid available, she is relying on Internet crowd-funding and a credit union loan to keep afloat.

“I don’t know if I am going to survive past the end of the month,” said Roberts, 46, whose insurance does not cover the $37,000 worth of damage to her store on West Florissant Avenue. The roadway was the main thoroughfare for looting and arson after a grand jury last week decided not to charge a white police officer in the shooting of a black teenager.

Dec 1, 2014

Exclusive – October oil shale permits drop: is the slowdown here?

NEW YORK (Reuters) – U.S. oil producers have been racing full-speed ahead to drill new shale wells in recent years, even in the face of lower oil prices. But new data suggests that the much-anticipated slowdown in shale country may have finally arrived.

Permits for new wells dropped 15 percent across 12 major shale formations last month, according to exclusive information provided to Reuters by DrillingInfo, an industry data firm, offering the first sign of a slowdown in a drilling frenzy that has seen permits double since last November.

Nov 30, 2014

Missouri officer in fatal shooting resigned without severance: mayor

By Daniel Wallis and Edward McAllister

FERGUSON, Mo. (Reuters) – The white police officer who shot and killed an unarmed black teenager in Ferguson, Missouri, this summer, got no severance deal when he resigned from the force, the mayor of the St. Louis suburb said on Sunday.

The officer, Darren Wilson, announced his resignation late Saturday, saying he feared for his own safety and that of his fellow police officers after a grand jury decided not to indict him in the fatal Aug. 9 shooting of 18-year-old Michael Brown.