RBN Energy executive Rusty Braziel suggested that having lower oil prices was at odds with increasing production — both of which were some of Donald Trump’s fervent campaign promises. “The situation is, you cannot have ‘drill, baby, drill’ and have that much more production coming out of the ground, and at the same time have lower…oil prices,” Braziel said. “It doesn’t make any sense.” According to Braziel, U.S. Energy Secretary Chris Wright has a “tough job” ahead. Wright, a former oil executive, understands the industry and how to boost oil production, Braziel continued. But he indicated it will be difficult…
Author: Robert Wilson
Caterpillar said on Tuesday that Chief Operating Officer Joe Creed would succeed Jim Umpleby as CEO, tapping an insider to help the construction equipment maker navigate the fallout of President Donald Trump’s sweeping tariffs. Umpleby, a veteran who has been with the company for more than four decades, held the top job for the last eight years and guided the firm through a demand and supply chain downturn brought on by the COVID-19 pandemic. Umpleby, who will transition to executive chairman, will hand over the reins on May 1 to 49-year-old Joseph Creed, a 28-year veteran with extensive leadership experience at Caterpillar.…
Meta CEO Mark Zuckerberg considered spinning out Instagram in 2018 on concerns about the rising threat of antitrust litigation against Facebook, according to an email presented Tuesday in a Washington, D.C. courtroom.During Zuckerberg’s second day of testimony in Meta’s antitrust trial with the Federal Trade Commission, lawyers representing the FTC introduced an email from May 2018, in which Zuckerberg appeared to comment on the possibility of separating the photo-sharing app his company purchased in 2012 for $1 billion. “And i’m beginning to wonder whether spinning Instagram out is the the only structure that will accomplish a number of important goals,” Zuckerberg wrote in the…
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