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The World Needs More Oil and Gas - According to Elon Musk

  • 2 weeks ago
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Chief Executive Officer of Tesla Inc., Elon Musk says that the world needs more gas and oil to combat energy shortages. It’s an odd comment from a man who designs electric vehicles, but even Musk recognizes the current energy crisis - especially with Europe suffering shortages at the hands of Russia as well as nuclear power plant outages in France. Overall, wholesale energy prices have climbed exponentially in the past few months. During the ONS energy conference in Norway, Musk said he is no...

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Shell Exits Russia and Writes Off Up to $5 Billion in Assets

  • 5 months ago
  • Article

Oil and gas industry giant Shell has announced that the company will write off $4-$5 billion in assets following its exit from Russia in the wake of the Ukraine invasion. Shell also warns investors that the volatility of energy prices during the first quarter of 2022 could negatively impact cash flow.  This means that the recent invasion has left companies scrambling to adjust to the major shifts in the energy markets despite the surge in oil and gas prices. This announcement offers an early...

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