March 22, 2016 |
U.S. investors squeezed by low bond yields and discouraged by the volatile stock market have pumped more than $50 billion into business development companies, or BDCs, in the last 10 years, in hopes of earning more. BDCs typically invest in debt sold by U.S. middle-market companies, including private-equity merger targets, energy-development projects, and mainstream companies that don't qualify for cheap bank loans. For the hope of higher, steadier interest yields, BDC investors often pay high broker fees.
March 19, 2016 |
With last year's crash in oil prices, less crude is moving by train, creating a surplus of idle rail cars that have become opportunistic vessels for some traders storing petroleum until prices recover. "There are a lot of people looking to do it," said Dennis A. Hoskins, managing partner of crude marketing at Energy Midstream, a Texas trading company that recently stored a light crude-oil derivative called condensate in rail cars for 15 days before shipping it to Canada. Though no government agency maintains data on the practice, the use of so-called rolling storage for crude oil does not appear to be widespread.
March 11, 2016 |
In the latest legal battle over Pennsylvania's oil and gas law, lawyers representing local townships and the state squared off Wednesday before the state Supreme Court to mop up unfinished business left after the court's landmark 2013 decision striking down statewide zoning for oil and gas activity. Meeting in Philadelphia, the justices heard a plea to overturn a lower-court ruling that allowed some limits on what doctors can disclose about proprietary chemicals used in gas drilling, a ruling opponents call the "physician gag order.
February 27, 2016 |
The economic impact of the oil bust has radiated beyond the exploration industry: Sunoco L.P. said Thursday that a decline in sales at its Stripes brand convenience stores in Texas oil-drilling areas held down its earnings. With the decline in oil exploration, Sunoco said, there was a noted drop in sales of diesel and merchandise at its stores in West Texas and South Texas. "It's just a reality of life with the reduced activity in the oil patch that our sales are down and they are going to stay that way until we see some recovery in commodity prices and activity," Robert W. Owens, Sunoco's chief executive, said during a quarterly earnings call with analysts.
February 26, 2016
Serves 4 1/2 pound halloumi cheese 2 tablespoon extra-virgin olive oil 1/2 cup Dukkah 1. Drain the halloumi and slice it into four 1/2-inch thick portions. Pat the cheese slabs dry with paper towels. 2. Heat olive oil in a heavy skillet over medium heat. When it's just beginning to smoke, add the halloumi and cook for 2 minutes, or until well-browned on the bottom. Turn the halloumi slabs over with a spatula, taking care not to splash the hot oil. Brown them on the other side.
February 25, 2016 |
The number of ships importing crude oil to the Philadelphia area increased 19 percent in 2015, the latest evidence that refiners here shifted away from domestic petroleum sources during last year's oil-price crash. Authorities reported the arrival of 310 crude-oil tankers at area refineries last year, up from 260 in 2014, according to data compiled by the Maritime Exchange for the Delaware River and Bay. The trade association's vessel count is only a rough measure of crude-oil movements, since the capacity of oil tankers can vary.
February 16, 2016
ISSUE | ECONOMY Increased oil exports won't hike gas prices Contrary to business columnist Joel Naroff's analysis of U.S. crude oil exports, independent and nonpartisan studies have found that lifting the crude export ban poses no risk to low U.S. gas prices ("A slippery issue," Feb. 7). A 2015 Harvard Business School study explains that "the overall effect of lifting the oil export ban could actually reduce global prices for gasoline by increasing the global availability of crude oil. " It's the same principle we see playing out at the gas pump, with the stable U.S. supply counterbalancing global supply disruptions that once would have sent prices soaring.
February 12, 2016
Makes 8 servings Chocolate ganache: 9 ounces dark chocolate (70 percent cocoa solids), broken into 3/4-inch pieces 2/3 cup unsalted butter, cut into 3/4-inch, plus extra for greasing the dish 1 egg, plus 3 egg yolks 5 tablespoons superfine sugar Coarse sea salt, to serve Spice Mix: 2 teaspoons coriander seeds 3/4 teaspoon black peppercorns 1 small cinnamon stick 1 whole star anise 8 cardamom pods...
February 12, 2016 |
When my husband and I got married, among the wedding gifts we received from a family friend were signed editions of every cookbook issued by celebrated chef Yotam Ottolenghi. Our friend lives in London, and she was excited to share Ottolenghi's delicious recipes with us because she had enjoyed his cooking with her husband. In our nearly two years of marriage, I have loved sifting through the gorgeous pictures in Ottolenghi's cookbooks, planning elaborate meals that seem always to call for a sprinkling of lovely pomegranate seeds atop some masterpiece of eggplant, lamb, or fennel.
February 12, 2016
Makes 4 servings 2 tablespoons olive oil 11/2 teaspoons clear runny honey 3/4 teaspoon dried lavender 1/2 small clove garlic, crushed 1 tablespoon coriander seeds, toasted 2 blood oranges (11 ounces) or 2 medium oranges 4 burrata balls (15 1/2 ounces) 5 grams basil (or 1/5 ounce) coarse sea salt 1. Place the oil in a small saucepan with the honey, lavender, garlic, and 3/4 teaspoon of salt. Bring to a simmer over medium-low heat, and remove at once.