Prepare for the Next Wave of Oil Bankruptcies
Last year, the energy industry was rocked by record bankruptcies and write-downs that did not spare even the oil majors. According to Energy and Restructuring law firm Hayes and Boone’s, a grand total of 50 energy companies filed for bankruptcy last year, including 33 oil and gas producers, 15 oilfield services companies and two midstream companies. Click here to read more from Yahoo Finance.
As Trump Seeks Pricier Oil, China Saves $250 Million Daily
As the U.S. finds itself in the unfamiliar position of lobbying for higher oil prices, China’s enjoying what amounts to a major rebate from crude’s crash just as it tries to recover from the coronavirus. Click here to read more from Bloomberg.
Cheap Oil and Empty Roads Are Halting American Biofuel Plants
U.S. ethanol makers are either halting or significantly cutting their production after the rout in oil prices made biofuels uncompetitive against gasoline, and as coronavirus keeps many drivers off the road. Click here to read more from Yahoo Finance.
Turning Plastic Waste into Sustainable Wax, Oil, Solvents
From global recycling failures, to ocean pollution and trying to do away with single-use items, it all boils down to the same question: What do we do with the hundreds of millions of tons of plastics still manufactured every year, and worse, the billions that have accumulated in the landfills and oceans all over the planet? Click here to read more from Israel 21C.