BP's big annual energy data compendium provides a window onto the remarkable growth of China's footprint in global energy markets.
The big picture: "China was by far the biggest individual driver of primary energy growth [in 2019], accounting for more than three quarters of net global growth," the report last week notes.
The shale sector is entering a "great compression" that could bring a "deep consolidation" as companies collectively face hundreds of billions of dollars worth of write-downs on their assets, a new Deloitte analysis finds.
Why it matters: The report shows how depressed oil prices stemming from the COVID-19 pandemic are slated to take a big toll on the sector, which was already struggling with debt and weak cash flow even before the crisis.
A decade of battles against pipelines proposed to crisscross the country is arriving at the Supreme Court.
Driving the news: The court ruled last week on the first such high-profile case, and two other actions also on pipelines are pending before the justices in decisions whose impacts could be far-reaching.
Temperatures in the small Siberian town of Verkhoyansk — normally one of the coldest places on the planet — reached 100.4°F on Saturday, likely the hottest temperature ever recorded in Siberia and north of the Arctic Circle, CBS News reports.
Driving the news: Multiple northern towns around the world have recorded scorching temperatures in recent days, including the city of Caribou, Maine, which on Friday tied its all-time record of 96°F.
