Energy industry – May 3

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Many more articles are available through the Energy Bulletin homepage

Exxon Has Biggest Profit Drop in 5 Years as Oil Falls
Joe Carroll, Bloomberg
Exxon Mobil Corp., the world’s largest company by market value, posted its lowest profit in more than five years after the global recession sapped energy demand, pulling down oil and gasoline prices.
(30 April 2009)

Royal Dutch Shell’s profits fall 58pc on oil price slide
Garry White, UK Telegraph
Group increases debt to pay for dividend rise and capital expenditure
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Royal Dutch Shell’s profits more than halved in the first quarter as oil prices tumbled, forcing the energy group to increase its debt to support both the dividend and its investment programme.
(30 April 2009)

Could Energy Innovation Create A ‘Green Bubble’? (text and audio)
Jeff Brady, National Public Radio
One argument for a major overhaul of the U.S. electricity grid is to encourage the development of more renewable sources of energy, such as wind and solar. President Obama certainly has gotten behind green energy, and his administration is part of a concerted effort to help the industry grow.

In the wake of the housing bubble, that has some asking whether the country is headed for a renewable energy bubble.

Eric Janszen founded the financial advisory company iTulip in the midst of the Internet stock bubble. Janszen, whose company was named for the Dutch tulip bulb bubble in the 1630s, has made a career out of studying financial bubbles.
(1 May 2009)