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Company acquires Arkansas Oklahoma Gas Corporation

natural gas flame

FORT SMITH, Ark. (AP) — The Arkansas Oklahoma Gas Corporation is being acquired by a privately-held holding company. The Fort Smith company said Monday that it will be acquired by Summit Utilities, which owns and operates natural gas distribution subsidiaries in Colorado, Missouri and Maine. AOG serves nearly 60,000 natural gas utility customers in Arkansas and Oklahoma and has been ...

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US trade deficit hits $44.5 billion, biggest in 10 months

trade gap, trade deficit

WASHINGTON (AP) — The U.S. trade deficit increased to the highest point in 10 months, driven up by a big rise in imports of oil and Chinese-made computers, cell phones and clothing. The deficit rose to $44.5 billion in June, 8.7 percent higher than a revised May deficit of $41 billion, the Commerce Department reported Friday. It was the biggest ...

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Kuwait raises gasoline prices, following Gulf neighbors

Kuwait skyline. (Image: Khaleel Haidar via Flickr)

KUWAIT CITY (AP) — Kuwait will raise its subsidized gasoline prices by as much as 83 percent beginning in September, becoming the last Gulf nation to do so as low global oil prices continue to gnaw away at governments across the region. Kuwait’s Cabinet announced the decision on Monday, with the biggest price hike coming for its premium-grade gasoline. As ...

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Puerto Rico hit with new power bill increase amid crisis

Puerto Rico

SAN JUAN, Puerto Rico (AP) — Puerto Ricans have been hit with another increase in electric bills as the U.S. territory’s power company struggles to stay afloat. The heavily indebted Electric Power Authority says the increase implemented on Monday will generate some $94 million this fiscal year. Clients on average will see a $6 monthly increase in bills, which already ...

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Cannon Mountain to reduce energy consumption by 30 percent

Cannon skiing new hampshire

FRANCONIA, N.H. (AP) — New Hampshire’s Cannon Mountain is undertaking several energy efficiency initiatives expected to reduce energy consumption at the ski area by about 30 percent. The conservation measures include replacement of Cannon’s main-trunk power line and upgrading the transformer; construction of a mid-mountain snowmaking booster pump house; installation of 388 snowmaking tower guns; and lighting and weatherization upgrades. ...

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To reverse damage of sitting, take a brisk, hour-long walk

exercise and sitting

LONDON (AP) — If you spend all day sitting, then you might want to schedule some time for a brisk walk — just make sure you can spare at least an hour. Scientists analyzing data from more than 1 million people found that it takes about 60 to 75 minutes of “moderate intensity” exercise to undo the damage of sitting ...

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US regulators: Still heavy risk in big bank loans

WASHINGTON (AP) — Federal regulators say risk remains heavy in large loans made by banks and other financial institutions, though lending standards have improved. The Federal Reserve and other agencies cite increasing risks in loans to oil and gas producers as oil prices have fallen. The steep decline in oil prices has hurt many energy companies. The amount of large ...

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Edible balloons, frozen treats: Ice Cream Museum is coolest

ice cream museum

NEW YORK (AP) — Move over Willy Wonka. A temporary museum dedicated to all things ice cream is treating visitors to edible balloons, a Chocolate Chamber, a “swim” in a pool of faux rainbow sprinkles and, of course, scoops of heavenly ice cream. New York’s Museum of Ice Cream is the lifelong fantasy of 24-year-old, co-founder Maryellis Bunn. The six-room ...

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Exxon reports smallest profit since 1999

Exxon's 1Q profit plunges 63 percent on lower oil prices

DALLAS (AP) — Lower oil prices continue to punish Exxon Mobil Corp., which reported its weakest quarterly profit in nearly 17 years. Exxon still earned $1.7 billion in the second quarter. It was, however, down 59 percent from a year ago, and per share income missed Wall Street expectations. The energy giant cited lower prices for oil and gas and ...

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Build a better MFC and the world will beat a path to your door

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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