An Omaha, Nebraska soybean processing company plans to build a $90 million vegetable oil refinery in western Iowa. The Sioux City Journal reports that Ag Processing Inc. plans to build the refinery at its complex near Sergeant Bluff, creating at least 20 new jobs.
Hemlock Semiconductor Group is permanently closing its idled polysilicon plant in Clarksville, citing global trade disputes that have led to an oversupply of the compound used in solar energy panels. The company's president, Denise Beachy, announced the decision to the The Leaf-Chronicle on Wednesday.
Russia's suddenly escalating financial crisis risks spilling beyond its borders and endangering parts of the global economy. "Oil hasn't found a bottom yet, so the pain is only going to get worse as the price of oil continues to fall," said a chief market strategist.
A Boeing factory says it plans to switch to all renewable energy at the factory in Washington state where it assembles its 737 commercial airplanes. The aerospace company and the utility, Puget Sound Energy, announced the switch Tuesday at the Renton factory, near Seattle.
Utility regulators will continue their review of the costs of building a new nuclear plant in eastern Georgia. The Public Service Commission plans to meet Tuesday as it debates whether to approve Georgia Power's recent spending as it builds two more nuclear reactors at Plant Vogtle.
As Iraq offers price discounts on oil to Asian consumers, Katie Pilbeam investigates if this is a sign that crude producers are waging a price war. Also, Greece's election chaos sends markets crashing on fear that an elected leftist government would pull the country out of the eurozone.
Deborah Borg, vice president of the Human Resource Partner Organization, has been named president of Dow USA. Borg will be responsible for coordinating Dow’s activities across the U.S. and play an instrumental role in representing Dow's interests to key stakeholders, including customers, suppliers, joint venture partners, key government organizations and communities.
U.S. manufacturing output in November surpassed its pre-recession peak, as auto production kicked into a higher gear. Additional gains came from food and wood, plastics and rubber-based products. Manufacturing output has risen 4.8 percent over the past 12 months.
A trade of public and private lands needed to allow the development of a massive copper mine 70 miles southeast of Phoenix is on its way to President Barack Obama's desk as part of the nation's annual defense funding bill. The annual defense authorization bill passed by the Senate Friday includes the trade that will allow Resolution Copper Mining Co. to develop the mine near Superior, touted as the largest in North America.
The main goal for the two-week session in Lima was relatively modest: Reach agreement on what information should go into the pledges that countries submit for a global climate pact expected to be adopted next year in Paris. But even that became complicated as several developing nations rebelled against a draft decision they said blurred the distinction between what rich and poor countries can be expected to do.
The recent decline in crude oil prices has created the potential for weaker crude oil production. EIA's Drilling Productivity Report (DPR) includes indicators that provide details on the effect low prices may have on tight oil production, which accounts for 56 percent of total U.S. oil production.
Falling gas and food costs pushed down overall U.S. wholesale prices last month, evidence that cheaper oil worldwide is limiting inflation. The Labor Department says the producer price index fell 0.2 percent in November, after rising by the same amount in October. In the past 12 months, producer prices have risen just 1.4 percent, the smallest yearly increase since February.
Russian President Vladimir Putin and Prime Minister Narendra Modi today assured industry leaders from the two countries of measures to enhance bilateral trade and investments. Putin, who is on a visit to India, was accompanied by a high-level delegation that includes business tycoons. Representatives of India Inc. raised various issues to increase trade flows in sectors like pharmaceuticals, banking, energy and infrastructure.
The “fissured landscape” of the shale gas industry is drawing regulators’ eyes as they seek to enforce labor laws, U.S. Department of Labor officials said. The department announced an agreement with roughly 145 oil and gas employers to pay a combined $4.5 million in back wages to 5,300 workers.
The dairy industry is eyeing package innovations to boost slumping sales. Changes could include products such as milk cartons that don’t require refrigeration until they’re opened. Shifting consumer habits, more drink choices and a lack of dairy product innovation are behind the steady decline in milk sales.
Despite the environmental risks, because nuclear power can improve a country's fuel balance, increase the share of high-tech products in GDP and exports, and be a potential solution to the problem of greenhouse gas emissions, one Russian nuclear scientist predicts a swath of new plants. Just how many could we see in 15 years?
In a report released today, PwC US examines whether shale will continue to help drive a resurgence in U.S. manufacturing. The answer? A resounding yes. The report, titled “Shale Gas: Still a Boon For U.S. Manufacturing?” studied key areas such as cost savings, and estimated that the “shale effect” could save U.S. manufacturing $22.3 billion annually by 2030, assuming a high natural gas recovery and low-price scenario.
Flying could get cheaper next year as airlines say they will finally start passing on some of the savings made on plummeting oil prices. Carriers are forecasting record profits for 2015 thanks to cheaper fuel and rising demand. As a result, they expect to cut the average ticket price by 5 percent in 2015, excluding surcharges and taxes.
The St. James Parish School Board has voted to declare St. James High School as surplus property, an action designed to speed its sale. Officials say China-based Yuhuang Chemical Inc., a corporation set to begin building a $1.85 billion ethanol plant adjacent to the school site, is interested in the property.
Oxford Performance Materials Inc. (OPM) announced the launch and availability of the first two grades of its OXFAB 3-D printing technology (OXFAB-N and OXFAB-ESD) for aerospace and industrial applications. OXFAB is OPM's proprietary technology platform and formulation of poly-ether-ketone-ketone (PEKK), a high performance polymer.
Manufacturing solutions provider and systems integrator Optimation Technology is bringing new and innovative elements to its historic Rochester location, similar to the former tenant of its current facility— Kodak.
A U.S. Senate decision is imminent on legislation that would ease the way for a massive copper mine 100 miles north of Tucson. The Senate could vote Wednesday or Thursday on the National Defense Authorization Act, which includes a bill to give 2,400 acres of national forest land near Superior to a foreign mining company.
So far this year gold has held its value relative to silver, copper, oil and two major currencies; the euro and Japanese yen. A confirmed bottom in U.S. dollar price is the first step to better days. It is hard to bet against King Dollar but gold presently has a stronger hand than these commodities. Why?
While consumers rejoice at lower gasoline prices, states with fuel taxes that increase or decrease with the wholesale price of gasoline or the inflation rate are struggling to deal with declining revenues. Even in states with a per-gallon tax, fuel-efficient cars and reduced driving have combined to lower revenues from gas taxes, which are often dedicated to road maintenance and construction.
A new oil refinery near Dickinson is ramping up to begin producing diesel fuel. KXMB-TV reports that the $350 million Dakota Prairie Refinery received its first shipment of 27,000 barrels of crude last week. Once the plant is fully operational, it will process 20,000 barrels of crude each day into diesel and other products.