Anonymous ID: 28de60 Feb. 21, 2019, 2:42 p.m. No.5311619   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun   >>1663 >>1675

>>5311455

>>5311586

 

Crude stocks rise as U.S. oil output hits 12M barrel a day record high

 

The federal government projects that U.S. oil production hit a new record-high of 12 million barrels a day last week as crude stockpiles continued to build.

 

The U.S. also hit a new weekly record of 3.6 million barrels a day in crude oil exports, which primarily come from the Texas and Louisiana Gulf Coast, according to the U.S Energy Department.

 

Crude stocks rise as U.S. oil output hits 12M barrel a day record high

Published 10:02 am CST, Thursday, February 21, 2019

 

The massive BridgeTex Pipeline was completed in 2014 and terminates in east Houston. The pipeline - owned by Magellan Midstream and Plains All American Pipeline - carries Permian Basin crude oil from Colorado City to Houston. The pipeline was expanded to 400,000 barrels a day of capacity this year and the owners are currently weighing an additional expansion to 440,000 barrels daily.

 

https://www.chron.com/business/energy/article/Crude-stocks-rise-as-U-S-oil-output-hits-12M-13633663.php

Anonymous ID: 28de60 Feb. 21, 2019, 2:52 p.m. No.5311864   ๐Ÿ—„๏ธ.is ๐Ÿ”—kun   >>1973

Step Aside Volkswagen: Ford Finds "Problem" With Emissions Testing; Stock Slides

 

Regardless of whether overt fraud is suspected or not, after the numerous emissions scandals that have rocked the global auto industry over the past ten years (Volkswagen diesel-fuel emissions scandal being the most memorable and probably the most egregious), headline-scanning algos are bound to react to the word "emissions" in a headline - and that's exactly what happened late Thursday when Ford announced that its workers had discovered an unspecified issue with the techniques used by the company to test whether its cars meet emissions standards.

 

But there's no obvious reason to panic - at least, not yet. In a statement, Ford claimed that the problems didn't involve "defeat devices" like those Volkswagen admitted were deliberately installed in its cars to circumvent federal regulations - a scandal that resulted in billions of dollars in fines and mass recalls. Some of the company's executives even faced criminal charges.

 

Ford also said none of its fuel economy ratings had been found to be inaccurate (again, at least not yet).

 

The issue was reported to the company by employees back in September, prompting an internal probe. The company then reported the issue to the EPA and California regulators this week. An explanation for the lag was not offered.

 

Ford has hired an outside firm to investigate road load specifications used in its testing, according to a statement.

 

Breaking: @Ford says it has "become aware of a potential concern involving its U.S. emissions certification process," has voluntarily disclosed it to the EPA.

โ€” Ari Natter (@AriNatter) February 21, 2019

 

Ford says they have hired an outside firm to conduct an investigation into the vehicle road load specifications used in our testing and applications to certify emissions and fuel economy.

โ€” Ari Natter (@AriNatter) February 21, 2019

 

Company statement: โ€œIn September, a handful of employees raised a concern through our Speak Up employee reporting channel regarding the analytical modeling that is part of our U.S. fuel economy and emissions compliance process."

โ€” Ari Natter (@AriNatter) February 21, 2019

 

Again, so far, there's no need to panic - yet. But the EPA confirmed Ford's disclosure and said the investigation was "too incomplete" to arrive at any preliminary conclusions. And after a rough year for auto stocks as global sales slumped and Ford said it would shutter production on some poor-selling brands, the last thing the company needs is another scandal.

 

https://www.zerohedge.com/news/2019-02-21/step-aside-volkswagen-ford-finds-problem-emissions-testing-stock-slides