The global oil landscape is rapidly changing, with “shockwaves” from supply growth in the US due to shale gas, light tight oil as well as the Canadian oil sands extending to “virtually all recesses of the global market,” the International Energy Agency (IEA) wrote in a May 14 report. The international energy body goes on to explain that the transformative effect of the way oil is being produced, process, traded and consumed could have significant consequences for the global economy and oil security moving forward.
“North America has set off a supply shock that is sending ripples throughout the world,” the IEA’s director, Maria van der Hoeven, said.
Oil futures topped $96 a barrel Tuesday to settle at the highest level in five weeks, as a strong showing for U.S. durable-goods orders fed optimism over energy demand ahead of this week’s updates on domestic petroleum supplies.
Meanwhile, prices for natural gas rallied on expiration day for the April futures contract, rebounding from a four-session decline.
NASCAR launched a major effort Thursday to raise money to support the community of Newtown, Conn. as it recovers from the December elementary school shooting that resulted in the death of 20 children and six adults.
After meeting last week with Newtown residents, including some of the relatives of those who died, NASCAR announced Thursday that it will assist the Sandy Hook School Support Fund in fundraising through the participation of the No. 26 Swan Racing Toyota in the Daytona 500.
Using the biggest race of the year as a backdrop, NASCAR, Swan Racing and two-time Daytona 500 champion Michael Waltrip announced on Thursday, Feb. 14 that the team will run a special tribute to raise awareness and contributions for the Sandy Hook School Support Fund during the Daytona 500.
NASCAR, Swan Racing and Michael Waltrip will do their part to contribute funding and awareness to the Sandy Hook relief effort with a custom-designed car to run in next week's Daytona 500.
Waltrip, the two-time Daytona 500 winner, will run for Swan Racing in the No. 26 car, a change from Swan's usual No. 30. The number 26 will be a tribute to the 20 children and six adults killed in the Sandy Hook massacre.
Using the biggest race of the year as a backdrop, NASCAR, Swan Racing and two-time Daytona 500 champion Michael Waltrip announced on Thursday, Feb. 14 that the team will run a special tribute to raise awareness and contributions for the Sandy Hook School Support Fund during the Daytona 500.
NASCAR, Swan Racing and Michael Waltrip will do their part to contribute funding and awareness to the Sandy Hook relief effort with a custom-designed car to run in next week's Daytona 500.