Business

The Independent Petroleum Association of America recently commissioned and funded a study, covered in The New York Times and elsewhere, which claimed that university endowments would suffer without fossil fuels in their portfolios. The Wall Street Journal ran an op-ed calling fossil fuel divestment a "Feel-Good Folly."

The third annual Sustainable Energy in America Factbook released today documents the continuing dramatic changes in how the U.S. produces, delivers and consumes energy, and makes some projections and predictions about the direction of the energy sector in the future. The report was researched and produced by Bloomberg New Energy Finance and commissioned by The Business Council for Sustainable Energy....

Since the collapse in oil prices began in the middle of last year, all eyes have been on how the oil industry responds. Already, some $200 billion of projects have been either axed or deferred, mostly because they cannot compete on costs.

The US shale oil industry is also suffering. This graph below from industry analysts Baker Hughes shows the dramatic fall in the number of rigs operating in the US shale industry.