The U.S. reinstated the Superfund Excise Tax on July 1, 2022. It applies to chemicals and substances commonly used in the plastics industry. How is it impacting producers, distributors, importers and processors? Click here to read more.
U.S. oil and gas firms generated $73.7 billion in 2021 profit driven by higher prices. Companies were cautious about capital spending, which reached $144.1 billion, while cash returned to shareholders through dividends and stock buybacks more than doubled from the prior year.
U.S. oil reserves held by 50 large companies rose by 13% over the past five years amid higher mergers and acquisitions activity, according to Ernst & Young.
More oil news related to the war in Europe:
European spot power prices declined from near-records Thursday following news of rising German solar supply and French nuclear output.
Germany’s natural gas import prices surged 153% in the first half of 2022 despite a 24.3% drop in volumes. The nation’s government will temporarily cut sales taxes on natural gas from 19% to 7% to help ease the burden on households and industry.
Diesel shipments from Asia to Europe are poised to hit a five-month high in August, a market dislocation caused by higher prices at European hubs.
Spanish demand for gas to generate power jumped 126% in July compared to a year ago, new data shows.
More Americans are returning to previous employers after two years of capitalizing on a tight labor market that made it easier to switch positions and boost benefits.
U.S. existing home sales fell for the sixth straight month in July and were down about 20% from a year ago. Meanwhile, the median selling price eased from June’s record of $413,800 and the average mortgage rate dropped from 5.22% to 5.13%.
Women made up 14.1% of the U.S. construction sector workforce in July, an all-time high amid persistent labor shortages.
The Philadelphia Fed’s manufacturing index posted a surprise gain in August, rising by its fastest pace in four months.
Inflation has driven the cost of raising a child through age 17 to more than $310,000, up 9% from two years ago.
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