I know what today is. Why would I not know what today is? I see the copious amounts of chocolate all over the place at Wal-Mart. And what does me being single have to do about it, anyway? Why are you even asking?
*Long, depressed sigh*
Okay, I admit it, I’m completely single for the second consecutive Valentine’s Day. But I have oil and gas right?
*Even longer, depressed sigh*
I’m just going to try to get right into the news without crying.
Oil Strengthens With OPEC Cuts
Finally, some good news! It turns out oil strengthened on Tuesday. Reuters reports that Brent Crude traded up 45 cents to $56.04 a barrel, as well as U.S. light crude, which traded up 35 cents to $53.28.
“The usually fairly volatile oil price has barely budged for two months, the reason being conflicting dynamics in the market,” senior energy economist at ABN AMRO Bank in Amsterdam, Hans van Cleef, said.
These “conflicting dynamics” are efforts by the U.S. to ramp up production, and OPEC’s efforts to cut it.
“OPEC producers want the market to believe they will stick to the agreed production freeze (cut). But lessons from the past have made the market deeply suspicious,” van Cleef continued.
Rolls-Royce Marine Will Lay Off 800 Workers
It turns out Rolls-Royce does something other than just make incredibly expensive cars. Who knew. It also turns out they’re planning to cut 800 jobs in their marine division by summer.
“We are operating in a challenging and unpredictable market, and while we have already made significant changes to transform our Marine business, we continuously review our activities worldwide,” a Rolls-Royce spokesperson told Rigzone.
Their marine division had 4,800 employees at the start of the year, which provides a wide range of equipment to the upstream oil and gas sector.
Hey, Rolls-Royce, you still make incredible cars, so you got that going for you.
D.O.E. Finds Renewables Employed More People Than Oil and Gas in 2016
In an unforeseen turn of events, OilPrice.com reports that American renewable energy firms actually employed more people than the oil and gas industry in 2016. At least, that’s what the Department of Energy concluded.
Technically this includes a lot of people–like those who manufacture, install, and run turbines. The numbers are kind of staggering, with renewable energy companies employing 476,000 workers while oil and gas firms employ 187,117.
Despite the news, it is true that the oil and gas industry lost a ton of jobs because of the most recent two-year dip.
The more you know.
See? That wasn’t so bad, right?
I guess the only thing saving me is the fact that Doug Krintzman is serving up another Nightly Surge right around the time I would’ve had dinner with someone. I know I’m not going to miss it.