Energy and the Environment News

Friday, July 25, 2014

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Gas Natural Sale Sidelined Until CEO Lawsuit Resolved

Gas Natural Sale Sidelined Until CEO Lawsuit Resolved

TheStreet (July 11, 2014) — Gas Natural, the Ohio-based company mired in scandal, was recently talking to prospective buyers about a sale, but talks came to a screeching halt when former CEO Richard Osborne filed a lawsuit against the company. The scandal started back in November when Ohio regulators ordered an investigation into Gas Natural. In May, the company announced that Osborne would be retiring and his son would take the reins. Late last month, Osborne Senior struck back, filing a lawsuit against the company. The suit has forced Gas Natural to put the sale on the back burner, but sources say that as soon as the matter is settled, the company will once again be on the prowl for a buyer. Even with the controversy surrounding the company, there will be no shortage of buyers as there is an intense level of interest in the gas local distribution space. Similar companies that have recently traded hands have fetched rich ebitda multiples of 10.5 times. With about $20 million in ebitda last year, Gas Natural could easily fetch north of $200 million in a sale. Video provided by TheStreet
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Global Oil Demand to Increase Next Year at Fastest Pace Since 2010

Global Oil Demand to Increase Next Year at Fastest Pace Since 2010

TheStreet (July 11, 2014) — Global oil demand will rise at the fastest pace in five years in 2015, according to the International Energy Agency. The IEA said that world oil consumption will increase next year by 1.4 million barrels a day to a record 94.1 million. Most of the increase in oil supply will be from nations outside of the Organization of Petroleum Exporting Countries. Oil supply from non-OPEC countries will rise by 1.2 million barrels a day next year as North American production rises. The demand for oil will be driven in large part by China, which the agency said will see demand increase by more than 4% to about 10.8 million a day. Video provided by TheStreet
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NY Natural History Museum Debunk Spider Phobia

NY Natural History Museum Debunk Spider Phobia

AFP (July 2, 2014) — Viewers ask questions during a media preview for "Spiders Alive" at the American Museum of Natural History in New York, July 1, 2014. Duration: 00:33 Video provided by AFP
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Texas Residents Seek Answers on Quakes, Drilling

Texas Residents Seek Answers on Quakes, Drilling

AP (June 26, 2014) — Barbara Brown points to cracks in her foundation and masonry, damage caused by an outbreak of tremors in her hometown. She says the quakes are not a matter of chance, but the result of waste water wells drilled by oil and gas companies. (June 26) Video provided by AP
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last updated on 2014-07-25 at 4:34 pm EDT

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