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paraffin removal, flo-rite

“Drill for oil? You mean into the ground to try and find oil? You’re crazy.” This was the reaction of prospective recruits by famed oil driller, Edwin Drake, the man now credited with launching the modern oil industry in 1859. Many people were first skeptical of Drake’s idea to drill for oil to lubricate machinery instead of collecting it from ...

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Energy company BP says 2Q earnings fell 45 percent

BP Q2 earnings

LONDON (AP) — BP’s second-quarter earnings fell 45 percent as lower oil prices hit the British energy company. Underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, fell to $720 million from $1.3 billion in the same quarter a year earlier, the company said in a statement released Tuesday. BP’s net loss narrowed to ...

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Railroads might have to let rivals serve their customers

OMAHA, Neb. (AP) — Freight railroads could soon be forced to allow competing railroads to serve some customers along their tracks if federal regulators approve a new rule. The Surface Transportation Board’s proposed rule would only apply to certain companies that don’t have many shipping options, but the companies that have been fighting for this change since 2011 praised Wednesday’s ...

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France’s Total profit falls 30 percent due to oil price drop

In this Feb.5, 2013 file photo, the logo of the French oil giant Total SA is seen at the entrance of the company headquarters in the La Defense business district, west of Paris. The French company said Thursday Feb.11, 2016 that profit adjusted for changes in the value of inventories and one-time items dropped to $2.1 billion from $2.8 billion in the same period a year earlier.(AP Photo/Jacques Brinon, File)

PARIS (AP) — French energy company Total SA says its net income fell 30 percent in the second quarter to $2.09 billion due to the impact of lower oil prices. The Paris-based company said its sales for the April-June period were $37.22 billion, down from $44.72 billion in the year-earlier period. Chairman and CEO Patrick Pouyanne said the company will ...

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Freeport-McMoRan skids as 2Q sales fall short of estimates

PHOENIX (AP) — Freeport-McMoRan stock slumped Tuesday after the mining company reported weaker-than-expected revenue for the second quarter as the price of copper and oil plunged and gold sales tumbled. Freeport-McMoRan sold 156,000 ounces of gold, less than half as much as it sold a year ago. Meanwhile its average selling price for oil fell 18 percent compared to the ...

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EPA moves to regulate climate-warming airliner pollution

airplanes, pollution, EPA regulation

WASHINGTON (AP) — The government has found that jet engine exhaust is adding to climate change and endangering human health, and needs to be regulated. The Environmental Protection Agency announced Monday that it will use its authority under the Clean Air Act to impose limits on aircraft emissions. Jet engines spew significant amounts of greenhouse gases, including carbon dioxide and ...

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Torque wrench safety

safety

“Tight is tight,” my old shop teacher would say.  “If you overtighten you’ll strip the threads and it’s damaged and can’t be repaired.”   Most of us that have used a wrench have stripped or overtightened something and when that happens, there’s no going back.  The same thing can happen when applying safety—too much, too often, and too strong can cause ...

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Gas prices drop 7 cents to $2.22 a gallon

CAMARILLO, Calif. (AP) — The average price of gasoline has dropped 7 cents over the past three weeks to $2.22 a gallon for regular grade. Industry analyst Trilby Lundberg said Sunday lower oil prices and an abundant gasoline supply caused the decline. She says the price is 60 cents less than it was a year ago. The Lundberg Survey found ...

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Exxon Mobil to buy InterOil for $2.5 billion

New Hampshire

DALLAS (AP) — Exxon Mobil Corp. emerged Thursday as the winning bidder for InterOil Corp., which has natural gas holdings in Papua New Guinea. Exxon said it will pay $2.5 billion for InterOil in a deal that will complement its large liquefied natural gas facility in the country. Exxon hopes to capitalize on growing demand for cleaner fuels in Asia. ...

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For Trump, it’s about America’s ego — and his own

WASHINGTON (AP) — Donald Trump was angry: A reporter had the gall to suggest that ego was behind his purchase of New York’s famed Plaza Hotel. When he thought about it, though, he decided it was true — and admitted as much in a big, big way. “Almost every deal I have ever done has been at least partly for ...

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