The World of Energy at a Glance
As the Organization of Petroleum Exporting, or OPEC, has geared up to meet, the question on everyone’s minds is whether to freeze output of crude oil. However, once it was delivered to members, Saudi Arabia and its allies quickly tanked the entire idea. Through all of this uncertainty, crude prices have still managed to slightly rise over Monday morning. Simply proving that an overall freeze in the market would not affect prices of crude or at the pump.
Dirty to Clean
Senate has recently passed a bill that will now make your drinking water a little cleaner. There are now new regulations that are being put into effect that requires large factories to curb the amount ash that is produced. Known as the Water Resources Development Act, it will simply help product the environment and improve water and air quality for the residents that live around certain factories.
NextEra is making headlines, yet again, with their proposed buyout of Energy Future Holding’s Corporation. After Energy Future Holding’s filed for chapter 11 bankruptcies, NextEra was there to help pick up the pieces. They are now putting the final touches on the deal, which included boosting its offer up $300 million. This acquisition will allow NextEra to expand production and reach even more customers, vastly increasing their overall profit.
Amazon is back at it again. Amazon has been trying to dip their toes in nearly every aspect of the business world, from their prime pantry to 2-day shipping. Now that’s going to include the energy market. This giant online retailer announced last week their plan to invest in a wind farm in Texas. While Lincoln Clean Energy will construct and run the wind farm, Amazon will own 90% of its output.
Tesla is back at it again, but instead of sticking to the roads, they are making their big debut in the housing market. In conjunction with SolarCity, Tesla has released plans to create a solar roof for homes, making the average homeowner a contributing factor towards reviving the environment.