Submitted by Tsvetana Paraskova via OilPrice.com,
President-elect Donald Trump has started naming his picks for key administration offices, and it looks like he is beginning to assemble a team to deliver on at least part of his campaign promises of An America First Energy Plan.
Just weeks after Ford idled four plants "due to slowing sales", GM and Fiat Chrysler announced today that they will idle seven plants across Canada and US as they work to reduce near-record high inventories amid weakening sales.
With an inventories-to-sales ratio above historical peaks (only beaten by huge spike in 2008 when sales stopped), the pain for automakers has only just begun...
Bail-Ins Coming To Italy? World's Oldest Bank "Survival Rests On Savers"
The world's oldest bank and Italy’s third biggest bank, Monte dei Paschi di Siena (MPS), is making a last-ditch emergency attempt as the year ends to convince tens of thousands of ordinary Italian savers to help it escape state hands.
Source: Wikimedia.org
Submitted by Jennifer Thomson via Gavekal Capital blog,
Submitted by OIl & Gas 360 via OilPrice.com,
Proved oil and gas reserves down 11.8 percent and 16.6 percent, respectively, from year-end 2014.
EIA has downgraded its estimates of proved oil and gas reserves in the U.S., according to its Crude Oil and Natural Gas Proved Reserves, Year-end 2015 report, released today.