Posts tagged “Merica”
In this week’s episode of R-Squared Energy TV, I answer the following questions:
- Is there any merit to the rumor that the Obama Administration asked Saudi Arabia to increase crude oil output in order to lower prices leading up to the November election?
- What has caused the drop in West Texas Intermediate prices over the past few months?
- Can you give an update about Merica’s activities? You mentioned several projects in this interview with Katie Fehrenbacher ;Can you please bring us up-to-date and generally state what progress has been made?
Today it was announced that my new company, Merica International, has acquired Shell’s stake in Choren Industries. This is something we have been actively pursuing for some time. This transaction gives Merica a great deal more flexibility than we had previously. The primary reason for the acquisition is that it gives us freedom to pursue the projects we want to pursue. While I have the greatest respect for Shell, our interests obviously would not always align with theirs. We are first and foremost a bioenergy company, and that is not their core business. Further, if Choren wanted to make any major capital expenditures, it hinged on getting Shell’s agreement. As Shell is in a major cost-cutting mode, a lot of… Continue»