News Roundups

Climate change is a systemic financial risk, Fed props up the economy, and more

Weekly news headlines about the stimulus and recovery from November 6, 2020.

Natural-Gas Drillers Outshine Oil Peers as Covid-19 Surges

A split reality is emerging for U.S. shale drillers: Those that primarily pump oil are still struggling to survive, while those that produce natural gas are slowly seeing signs of recovery.

Oil-focused fracking companies are under extreme financial strain, as renewed concerns about the coronavirus pandemic are weighing down crude prices. But gas-focused drillers are getting a long-awaited reprieve. Natural-gas prices are climbing ahead of winter, and are less sensitive to lockdowns that erode demand for transportation fuels.

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OPINION: Climate Change Is a Systemic Financial Risk

The U.S. Commodity Futures Trading Commission (CFTC) issued a report last month on the impact of climate change that landed like a thunderbolt.

The bipartisan report, adopted by a subcommittee of the Commission’s Market Risk Advisory Committee, declared climate change to be a major financial risk to the U.S. economy and recommended a package of actions financial regulators should take to address this risk, including putting a price on carbon.

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