Energy & Fuel

"Art That Irked Energy Execs Is Gone, but Wyoming Dispute Whirls On"

"LARAMIE, Wyo. -- The idea behind the sculpture that appeared on the University of Wyoming campus about 16 months ago was simple but provocative: a swirl of dead wood and lumps of coal, intended to show the link between global warming and the pine beetle infestation that has ravaged forests across the Rockies."

Source: NY Times, 10/30/2012

"Oil Refining's Fortunes Rise"

"THREE RIVERS, Tex. — The refinery business has long been the difficult stepchild of the oil industry, expensive to run, prone to accidents and a low-margin headache for executives who preferred drilling for gushers. But signs of the improving fortunes for the industry can be seen at Valero Energy's Three Rivers refinery here, about 70 miles south of San Antonio at the doorstep of a giant new shale oil field."

Source: NY Times, 10/25/2012

Ohio Energy Data Regs Make It One Of Nation"s Least Transparent States

"NEW YORK -- Dozens of wells drilled this year across rural Ohio are quietly pumping out the answer to the U.S. energy industry's most loaded question: Is the Utica shale formation, touted as a potentially $500 billion frontier, a boom or a bust? Yet the answer is likely to remain concealed for some time."

Source: Reuters, 10/23/2012

Private Equity Firms Make Bad TXU Investment, Get $528 Million Anyway

The Texas-based energy company TXU was, under the Bush administration, supposed to be the cutting edge of a coal resurgence. The 2007 leveraged buyout of TXU is widely regarded to be one of the worst deals in private equity history. But the firms that led it -- KKR, TPG, and Goldman Sachs -- made money with big fees even as the company tumbled toward financial ruin.

Source: New York, 10/23/2012


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