$9.5 Billion Purchase by Concho Is Latest Sign of West Texas Oil Boom

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Supported by Energy & Environment $9.5 Billion Purchase by Concho Is Latest Sign of West Texas Oil Boom Photo A rig in West Texas, where production is threatening to outstrip the pipeline capacity. The Concho Resources purchase of RSP Permian comes at a precarious moment. Credit James Durbin/Midland Reporter-Telegram, via Associated Press HOUSTON — Two Texas oil companies joined forces on Wednesday in the biggest deal yet in the Southwestern oil patch, one that should add momentum to the rush to produce more oil as prices rise.
The creation of a shale-oil colossus comes at a precarious moment, when production in the region is expanding so fast that pipeline construction is barely keeping up. That may cap the potential of the deal, at least over the next year or two, to get oil to the market profitably.
The move by Concho Resources to purchase RSP Permian for $9.5 billion will make it the biggest shale oil and natural gas producer in the Permian Basin, the oil-rich area. With 27 ri..

B&M ad for prosecco glass that can contain an entire bottle banned for encouraging excessive drinking

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The advertising watchdog said the ad breached its code and went against health guidelines
A B&M Stores advert for a glass that can hold a full bottle of prosecco has been banned by the advertising watchdog for encouraging excessive drinking.
In a Facebook post last November, the product was promoted with the caption: “Like Prosecco? Then you’ll LOVE these glasses- they can hold a FULL bottle [3 heart eye emojis]! Plus, we’ve got Prosecco in store for just £5.99 so it’s a perfect time to stock up for Christmas. TAG the biggest Prosecco fan you know!”.
Read more B&M stores criticised over ‘pro-anorexia’ scales B&M also published a video which showed an entire bottle of prosecco being poured into one of the glasses, with accompanying on-screen text which read: “Introducing B&Ms Giant Prosecco Glass The perfect gift for Prosecco lovers! This glass holds an entire bottle of Prosecco So you don’t have to get up for refills Enjoy a glass with friends this festive season Please drink r..

Bank financing of extreme fossil fuel soars, according to damning report

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Shareholders must press banks to stop financing projects that will long term harm their businesses, not to mention the planet and everyone on it
Through the projects they fund, banks are some of the most environmentally destructive businesses on the planet.
The annual report by a group of non profit organisations makes this very clear. “Banking on Climate Change,” has found that financing for extreme fossil fuels – in other words the really nasty stuff – surged to a staggering $115bn (£81bn) in 2017.
It’s all the more disappointing given that the previous year (2016 when the Paris Climate Agreement was signed) had seen progress with a fall to $104bn from $126bn.
Read more Oil prices open above $70 on heightened Middle East tensions Shell and Eni accused of 'serious negligence' on Nigerian oil spill Public listing of Saudi oil company may be delayed until 2019 According to the report “no bank has yet truly aligned its business plan with the Paris Climate Agreement, wh..

Green Gove? Environment department consulting on bottle deposit scheme but hold your cheers

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The scheme is aimed at improving recycling and cutting the vast tonnage of waste plastic finding its way into our oceans but campaigners want less talk more action
It’s not often thoroughly good ideas get an airing in modern Britain, all the more so if they involve plans to keep its children from having to live in a noxious rubbish tip that run the risk of irritating businesses.
But, wait, what’s this: Are we set to see belated launch of a deposit and return scheme covering drinks containers, whether plastic, glass, or metal, with the aim of encouraging recycling?
That’d be quite something from a Department for Environment, Food & Rural Affairs run by one of the more noxious politicians this country has produced in the form of Michael Gove.
Read more Government considering plastic bottle deposit scheme UK set to throw away a third more disposable cups Plastic pollution in sea set to treble in a decade, warn scientists Is this an attempt Mr Gove, a former newspaperman who knows ..

White House Looks to Use Emergency Law to Halt Chinese Investment

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Supported by Business Day White House Looks to Use Emergency Law to Halt Chinese Investment Photo The Trump administration is pushing back as China works to build up advanced technologies like electric cars, such as these at an exhibition in Guangzhou, China, last year. Credit Billy H.C. Kwok for The New York Times WASHINGTON — As the White House prepares to levy punishing tariffs on an array of Chinese goods, it is planning a much more strategic strike against China’s dominance in cutting-edge technology by restricting investment in American innovation.
The Trump administration is preparing to limit Chinese investment in sensitive American technology, ranging from microchips to 5G wireless technology, as it tries to prevent China from gaining an edge in industries projected to power the global economy for decades. After years of tough restrictions on American companies trying to operate in China, including coercing the transfer of proprietary technology, the White House is lookin..

Soul-Searching From Ad Group That Lauded Cambridge Analytica

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Supported by Media Soul-Searching From Ad Group That Lauded Cambridge Analytica Photo Alexander Nix of Cambridge Analytica speaking in 2016 about the presidential election. Mr. Nix has been suspended as chief executive in the wake of revelations that the company improperly acquired data from Facebook users. Credit Bryan Bedder/Getty Images An advertising trade group that gave an award to Cambridge Analytica last year for its “big data” work during the 2016 presidential election is now urging marketers to reconsider the ethics of how consumer information is collected and used.
The trade group, the Advertising Research Foundation, said it was waiting for more information before formally rescinding the award given to Cambridge Analytica, the British political consulting firm that was recently reported to have improperly harvested the data of 50 million Facebook users. The revelations have brought intense criticism of Facebook, which is facing inquiries from lawmakers on both sides of..