Last week saw a major breakthrough for the Keystone XL Pipeline, as an analysis determined that the project would not have a significant impact on Canadian oil sands. By virtue, many are taking that statement as indirectly suggesting that the project would not have a major environmental impact as well. The potential environmental backlash has long stood in the way of this project’s completion, as many feel that the State Department has still failed to take into account the potential impact [for more commodity news and analysis subscribe to our free newsletter].
As we enter the latter part of earnings season, investors have already gotten a taste of how the final three months of 2013 fared for the Street. Thus far, it seems that there have been more earnings misses or disappointing guidance given than major wins or rosy outlooks. This week will keep energy firms in the spotlight with a few key European-based firms reporting, as well as one major agribusiness entity [for more commodity news and analysis subscribe to our free newsletter]:
In recent years, investors have witnessed the U.S. become a dominant force in the crude oil space, thanks in part to a development in technologies like fracking as well as more pipelines distributing the energy resource around the nation. Outside of the country, however, oil giants have struggled to match the U.S.’s fast growth, forcing these companies to new oil “frontiers” [for more energy news and analysis subscribe to our free newsletter].
Commonly referred to as the Oracle of Omaha, Warren Buffett is one of the world’s most famous investors, heralded for his simple yet effective valuation methods. So when the legendary investor makes a big bet, most are willing to follow in hopes of cashing in on Buffett’s guru-like instincts. Buffett’s latest bet involves a $1.4 billion arbitrage on Phillips 66 (PSX) [for more commodity futures news and analysis subscribe to our free newsletter].