ENERGY

Authored by Matt Cole via RealClearEnergy,

My old employer CalPERS just suffered a humiliating defeat in its vote against Exxon’s board of directors. Its losing streak continued last week when the House Judiciary Committee grilled it over the Climate Action 100+ “climate cartel,” which helps pension funds like CalPERS coordinate with asset managers and non-profits to kill fossil fuels. CalPERS is the group’s brains and brawn, founding it and using its $500 billion weight to (more…)

Authored by Charles Kennedy via OilPrice.com,

Saudi Arabia’s oil giant Aramco has signed a non-binding agreement to buy LNG from Sempra’s Port Arthur LNG project and potentially acquire 25% in the project’s Phase 2 (more…)

Crude prices have roller-coastered over the last 12 hours or so as last night's API (large gasoline build) sparked selling, then buying waves hit during the late-Asia/early-Europe session, then selling returned with a vengance during the early US session as Kanda's comments sparked dollar strength and sent commodities lower.

The dismal home sales print sparked dollar weakness and sent oil prices back up into the green ahead of the official inventory data.

API (more…)