Articles written by Cathy Bussewitz
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Funds vanish at bankrupt crypto exchange FTX; probe underway
NEW YORK (AP) — Collapsed cryptocurrency trading firm FTX confirmed there was "unauthorized access" to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday. The embattled company's new CEO John Ray III said S...
Methane blast in Baltic Sea highlights global problem
NEW YORK (AP) — As serious as the methane escaping from ruptured pipelines on the floor of the Baltic Sea may be, there are alarming incidents of massive methane releases around the world frequently. Climate scientists have found that methane e...
EXPLAINER: What does a US ban on Russian oil accomplish?
NEW YORK (AP) — With Russia intensifying its war on Ukraine, killing civilians and triggering a mass refugee crisis, President Joe Biden on Tuesday announced a U.S. ban on imported Russian oil. Critics of Russia have said that sanctioning its e...
GOP wants to end Russian oil imports to US, boost production
OKLAHOMA CITY (AP) — Republican elected officials across the U.S. are criticizing President Joe Biden over his energy policies and urging his administration to do more to ramp up domestic production as a way to help wean the nation and its allies off...
EXPLAINER: What happens to Europe's energy if Russia acts?
FRANKFURT, Germany (AP) — Fears are rising about what would happen to Europe's energy supply if Russia were to invade Ukraine and then shut off natural gas exports in retaliation for U.S. and European sanctions. The tensions show the risk of Europe's...
Board fight at Exxon intensifies spotlight on climate change
NEW YORK (AP) — ExxonMobil is facing a major challenge from a group of investors in one of the biggest fights a corporate boardroom has endured over its stance on climate change, an issue of rising urgency for many shareholders. The investor group i...
Gas stations report shortages as pipeline shutdown drags on
CHAMBLEE, Ga. (AP) — More than 1,000 gas stations in the Southeast reported running out of fuel, primarily because of what analysts say is unwarranted panic-buying among drivers, as the shutdown of a major pipeline by a gang of hackers entered its f...
Oil companies lock in drilling, challenging Biden on climate
BILLINGS, Mont. (AP) — In the closing months of the Trump administration, energy companies stockpiled enough drilling permits for western public lands to keep pumping oil for years and undercut President-elect Joe Biden's plans to curb new d... Full story
Rioters who stormed US Capitol now face backlash at work
NEW YORK (AP) — A printing company in Maryland saw the photo on Twitter Wednesday night: an employee roaming the halls of the U.S. Capitol with a company badge around his neck. He was fired the next day. Others are facing similar repercussions at w...
Uber, hard-hit by pandemic, sells its robot-vehicle division
SAN RAMON, Calif. (AP) — Uber is selling off its autonomous vehicles development arm as the ride-hailing company slims down after its revenues were pummeled by the coronavirus pandemic. Self-driving vehicle technology company Aurora will acquire the...
Delivery giant DoorDash plans IPO
NEW YORK (AP) — Delivery giant DoorDash Inc. is planning to sell its stock to the public, capitalizing on the growing trend of consumers embracing app-based deliveries as much of the world stays home during the pandemic. The San Francisco-based c...
Gig workers face shifting roles, competition in pandemic
NEW YORK (AP) — There were the two-hour, unpaid waits outside supermarkets when San Francisco first started to lock down, on top of the heavy shopping bags that had to be lugged up countless flights of stairs. And yet even after signing up for s...
Fracking pioneer Chesapeake files for bankruptcy protection
NEW YORK (AP) — Chesapeake Energy, a shale drilling pioneer that helped to turn the United States into a global energy powerhouse, has filed for bankruptcy protection. The Oklahoma City-based company said Sunday that it was a necessary decision g...
Chesapeake, struggling to survive, skips $13.5M in payments
Chesapeake Energy, which has warned that it's unsure if it can survive much longer, failed to make $13.5 million in interest payments that came due this week, according to a federal filing. The pioneering energy company grew to become one of the...
Uber loses $2.9 billion, offloads bike and scooter business
NEW YORK (AP) — Uber lost $2.9 billion in the first quarter as its overseas investments were hammered by the coronavirus pandemic, but the company is looking to its growing food delivery business and aggressive cost-cutting to ease the pain. The r...
Q&A: With rock-bottom prices, will the oil industry recover?
NEW YORK (AP) — With a barrel of crude oil costing less than a New York pizza, many U.S. shale producers are being pushed to the brink of bankruptcy and experts are wondering when, and if, the oil industry will recover. The price of benchmark U.S. cr...
Q&A: Oil prices hit new lows as economic pain deepens
NEW YORK (AP) — A barrel of oil now costs less than a cheap bottle of wine. U.S. benchmark crude was trading as low as $6.50 a barrel Tuesday, more than 80% lower than the start of the year. The dizzying drop reflected stark suffering in the g...
Chaos and scrambling in the US oil patch as prices plummet
NEW YORK (AP) — In Montana, a father and son running a small oil business are cutting their salaries in half. In New Mexico, an oil truck driver who supports his family just went a week without pay. And in Alaska, lawmakers have had to dip into t...
Boeing ousts its CEO after two deadly 737 Max crashes
NEW YORK (AP) — Boeing ousted CEO Dennis Muilenburg on Monday with no end in sight to the crisis that has engulfed the vaunted American aircraft manufacturer since the crash of two of its 737 Max airliners. The Boeing board had supported M...
Exxon trial probes how oil giant accounts for climate change
NEW YORK (AP) — New York's attorney general is accusing Exxon Mobil of lying to investors about how profitable the company will remain as governments impose stricter regulations to combat global warming. The lawsuit, which is set to go to trial T...
EPA moves to revoke rules on oil industry methane leaks
WASHINGTON (AP) — The Trump administration moved Thursday to revoke regulations on methane leaks from oil facilities, a proposal environmental advocates said would renounce key federal authority to regulate the climate-damaging gas. The proposed r...
Boom in electric scooters leads to more injuries, fatalities
Andrew Hardy was crossing the street on an electric scooter in downtown Los Angeles when a car struck him at 50 miles per hour and flung him 15 feet in the air before he smacked his head on the pavement and fell unconscious. The 26-year-old snapped...
Mounting tensions with Iran, China leave oil prices in flux
NEW YORK (AP) — A rare mix of geopolitical tensions in the Middle East and China is tugging oil prices in opposite directions and creating uncertainty over where they might land. Deteriorating trade talks between the United States and China, the w...
Oil prices climb in wake of Iranian oil sanctions decision
NEW YORK (AP) — Global oil prices are rising in the wake of President Donald Trump's decision to impose sanctions on nations that import Iranian oil and could eventually climb to levels that would impact American consumers. Analysts said Tuesday t...
AP Explains: What a Venezuelan oil embargo could mean for US
NEW YORK (AP) — Diplomatic relations between U.S. and Venezuela have hit a new low over President Donald Trump's decision to recognize the leader of the South American country's opposition as its legitimate president. But the two countries have l...
