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Inflation risk not seen by the chief executive of the world s biggest shipping company.
(Bloomberg) The chief executive of the world’s biggest shipping company says he’s not seeing signs of a dangerous resurgence in inflation.
A.P. Moller-Maersk A/S transports about a fifth of global trade, giving it a prime vantage point from which to catch a first glimpse of economic developments before they’re released in the form of official statistics.
Maersk CEO Soren Skou, who spoke before fresh U.S. inflation data was published on Wednesday, says he’s fully aware that “many economists fear inflation because so much money is being pumped out.” And though history would suggest that the monetary environment ought to feed dangerous inflation, “we don’t really see that now,” Skou said in an interview. “On a global level we don’t see strong inflationary pressure at this point.”
Geothermal firm exec offers his perspective on collaboration between the geothermal and oil and gas sectors.
A topic that has received considerable interest in the oil and gas community recently is exploiting geothermal energy. In April Rigzone presented
Given recent curiosity about geothermal, and to explore geothermal-oil and gas collaboration opportunities, Rigzone has sought out additional perspectives on the renewable resource and will present them in the coming days. One such voice is Karl Farrow, CEO of the geothermal project development firm CeraPhi Energy.
“Geothermal energy is the next and future source of baseload energy and it’s not a struggle against oil and gas,” Farrow told Rigzone. “It’s an important tool in the evolution of how we will produce energy with results and benefits we now demand for a sustainable future.”
Colonial Pipeline said on Tuesday it continues to make progress in its around the clock efforts to return its system to service.
Colonial Pipeline said on Tuesday it continues to make progress in its “around the clock” efforts to return its system to service.
The business, which
suffered a cyberattack last week, noted that additional laterals were operating manually to deliver existing inventories to markets along the pipeline. Markets experiencing supply constraints and/or not serviced by other fuel delivery systems are being prioritized, Colonial Pipeline said.
“Since our pipeline system was taken offline, working with our shippers, Colonial has delivered approximately 967,000 barrels (~41 million gallons) to various delivery points along our system,” Colonial Pipeline said in a company statement posted on its website.