This is the story of how Standard Oil, a United States oil company, became the start of some of the largest companies in the world today. The companies that grew from Standard Oil currently have a combined market cap of over $950 Billion. Standard Oil’s history goes back to 1863, When John D. Rockefeller and …
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The 1973 Oil Crisis
The oil crisis of 1973 was the first time the United States had ever faced an extreme fuel shortage. The cause of this shortage was an embargo placed on the US, and many western countries, by OAPEC (Organization of Arab Petroleum Exporting Countries). The embargo was set in place after the US supported Israel, which …
Ethereum’s Move to Proof-Of-Stake Decreases the Networks Energy Consumption Over 99%
A topic of discussion often glossed over in cryptocurrency is the amount of electricity used when computers are mining or validating transactions. According to a paper from the Columbia Climate School, Bitcoin alone consumes an estimated 150 terawatt hours of electricity per year. Argentina, a country of 45 million people, consumes less electricity than the …
Protestors Take Out Their Anger Towards Oil and Gas on an $80 Million Van Gogh Sunflower Painting
Today British Oil protest group “Just Stop Oil” staged a demonstration where two members threw tomato soup on Van Gogh’s Sunflowers painting. In a video posted on YouTube, the protestors, after throwing soup on the artwork, ask, “Are you more concerned about the protection of art or the protection of the planet and people?” The …
RWE Acquires the Second Largest U.S. Solar Co. Con Edison for $6.8 Billion
On October first, 2022, RWE AG one of the largest renewable energy companies in the world, based out of Germany, purchased Consolidated Edison’s clean energy portfolio for $6.8 billion. A large part of the funding for the purchase comes from the Qatar Investment Authority through an RWE issued bond of $2.43 billion. Currently, RWE has …
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European Union’s Price Caps on Russian Natural Gas
In early September European Union member countries began discussing a price cap on Russian natural gas. Russia has drastically cut back on the amount of natural gas that it is sending to Europe, while at the same time dramatically increasing the price. In the following paragraphs, I outline why price caps on Russian natural gas …
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