After years of booms and busts that produced astronomical losses along with a whole lot of oil, the fracking industry seems to have found a sweet spot. It’s poised to generate more than $30 billion of free cash this year.
Author: Bloomberg News
Dems, White House Give Infrastructure Compromise One Last Chance
The White House is giving bipartisan talks on a compromise infrastructure package another week to 10 days to bear fruit and is prepared to endorse a Democrat-only route if that effort fails, according to House lawmakers.
US Father-Son Duo Charged With Helping Ghosn Flee Plead Guilty
The American father-son duo charged with helping former Nissan Motor Co. Chairman Carlos Ghosn flee trial in Japan a year and a half ago pleaded guilty in a Tokyo court June 14.
Romney, Senators Map Rival Infrastructure Plan With No Tax Hikes
The Biden administration is expecting a new infrastructure proposal this week from a bipartisan group of lawmakers, but those legislators are moving forward without any of the tax hikes the president has demanded to pay for his plan.
Lawmakers Chide Colonial Pipeline for Weak Cybersecurity
U.S. lawmakers criticized Colonial Pipeline Co.’s cybersecurity practices as the company’s CEO faced his second day of questioning on Capitol Hill.
Biden Will Need More Than $52 Billion for Chip Effort, Analysts Say
President Joe Biden’s blueprint for the U.S. semiconductor industry marks an ambitious effort to set industrial policy for a critical sector of the economy, but the strategy will need more money and global support to take back chip supremacy and pre-em…
Biden Will Need More Than $52 Billion for Chip Effort, Analysts Say
President Joe Biden’s blueprint for the U.S. semiconductor industry marks an ambitious effort to set industrial policy for a critical sector of the economy, but the strategy will need more money and global support to take back chip supremacy and pre-em…
Tesla Heavy Trucking Exec Jerome Guillen Departs
Tesla Inc. has parted ways with Jerome Guillen, a 10-year veteran who most recently served as president of heavy trucking and was one of four top executives running the company, including Chief Executive Officer Elon Musk.
JBS Poised to Reopen Most Meat Plants Hobbled by Cyberattack
JBS SA, the world’s largest meat producer, has made “significant progress” to resolve the cyberattack that hit its global operations and will have the “vast majority” of its plants operational June 2.
Oil Tops $70 a Barrel for First Time Since 2019
Oil resumed its advance, reaching the highest settlement in more than two years with the OPEC+ alliance forecasting a tightening global crude market and a nuclear deal with Iran still up in the air.