Inflation spike won’t last, Bernanke says

A recent increase in U.S. inflation is driven primarily by rising commodity prices globally, and is unlikely to persist, Federal Reserve Chairman Ben Bernanke said on Monday. The comments stood in sharp contrast to a string of U.S. central bank officials, some of whom have argued the time is coming for the Fed to begin tightening monetary policy. Earlier... 

As oil muddies outlook, Fed policy less certain

Surging oil prices are deepening a split inside the Federal Reserve, blurring the likely direction of U.S. monetary policy and making next week’s policy meeting all the more contentious. The sharp rise in energy costs, precipitated by a wave of pro-democracy uprisings across the Arab world, could affect the economy in different ways, by retarding... 

Exxon profit up, tops Street on taxes and output

Exxon Mobil Corp reported a better-than-expected 53 percent increase in quarterly profit, helped by a lower tax rate and a surge in natural gas production in the United States and Qatar. Oil demand rose last year and the U.S. government expects another 1.5 percent gain this year as businesses’ and consumers’ appetite for fuels like diesel... 

Market flat, pares losses from jobless claims

U.S. stocks were little changed on Thursday, paring losses after weaker-than-expected jobless claims and helped by a rise in Marathon Oil. Contributing to the weakness was a sharp drop in shares of Merck on disappointing drug trial news. The drugmaker was the biggest percentage decliner on the S&P 500. Weekly initial claims for unemployment benefits... 

PostRock Announces Agreement to Sell Certain Appalachian Assets

PostRock Energy Corporation today announced that it has entered into a definitive agreement with Magnum Hunter Resources Corporation (NYSE Amex:MHR) (“MHR”) to sell certain assets in Wetzel and Lewis Counties, West Virginia for aggregate consideration of $39.75 million. The consideration for the sale will consist of 50% cash and 50% MHR... 

Business and Environmental Groups Unite in Support of Climate Legislation

Exelon Chairman and CEO John W. Rowe and Natural Resources Defense Council President Frances G. Beinecke today urged Midwest business leaders to support comprehensive climate legislation. In a panel discussion at the Economic Club of Chicago, Rowe and Beinecke said economy-wide cap-and-trade legislation to reduce greenhouse gas emissions is essential... 

WorldWater & Solar Technologies Completes Solar Installation at Valley Center Municipal Water District

WorldWater & Solar Technologies Corp., developer and marketer of proprietary high-horsepower solar systems, announced that it has completed installation of a 1.1 MW solar power system for the Valley Center Municipal Water District (VCMWD) of Valley Center, California. The system, which was financed and will be owned, operated, and maintained by... 

Regional Climate Policy Could Damage Minnesota’s Economy

An economic study released today shows a regional cap-and-trade policy would severely handicap Minnesota’s economy, causing sharp increases in energy prices and reducing net employment in Minnesota by 21,000 jobs by 2015. The report, titled “Economic Analysis of the Impact of a Midwest Regional Climate Policy on Minnesota,” was written... 

Wind Energy: First Signs of Slowdown

The global economic turmoil has started having an impact on the wind energy industry in Europe. Some companies are cutting down forecasts and production for 2009 and the market is showing the first signs of slowdown. “The current economic situation is slowly affecting the wind energy industry,” remarks Frost & Sullivan Research Analyst... 

Atlantic Energy Solutions Chosen as Energy Efficiency Contractor for Two New Jersey Boroughs

Atlantic Energy Solutions, Inc. has been selected as the Energy Efficiency Solutions Company for two Northern New Jersey boroughs. The company was selected amid tough competition after borough officials spent time with Atlantic Energy in order to better understand the benefits Atlantic Energy offers. The boroughs wanted Atlantic Energy Solutions to...