A new and more severe ruler is on the throne in oil and gas country, and the state’s petroleum producers are bending the knee and doing their best to survive. After years of handing shale producers fistfuls of money to grow production as rapidly as possible, Wall Street is demanding they operate more efficiently and cover their costs without heavy borrowing. Basically, investors want producers to shift from spending more than they make and using debt to fill the gap to generating surplus cash and providing them a return. “Free cash flow is king,” Jennifer Martin Samuels, vice president of investor relations at Denver-based SM Energy, declared this summer at The Energy Summit, an annual industry gathering.The state’s petroleum industry employs about 90,000 people, directly and indirectly, generates $13.5 billion in economic activity, and provides $1 billion in taxes to state and local governments, according to an analysis from the University of Colorado Boulder. … [Read more...] about Drilling, dollars & debt: Colorado’s oil and gas industry is leveraged to the hilt. What does that mean for the future?
Market industry analysis
Forget phrase books or even Google Translate. New translation devices are getting closer to replicating the fantasy of the Babel fish, which in the “Hitchhiker’s Guide to the Galaxy” sits in one’s ear and instantly translates any foreign language into the user’s own. The WT2 Plus Ear to Ear AI Translator Earbuds from Timekettle are already available, while the over-the-ear “Ambassador” from Wavery Labs is scheduled for release this year. Both brands are wireless, and come with two earpieces that must be synced to a single smartphone connected to Wi-Fi or cellular data. These devices “bring us a bit closer to being able to travel to places in the world where people speak different languages and communicate smoothly with those who are living there,” said Graham Neubig, an assistant professor at the Language Technologies Institute of Carnegie Mellon University and an expert in machine learning and natural language processing. Whether … [Read more...] about Move over, Google Translate: Here come A.I. earbuds
Paul A. Volcker, the powerful Federal Reserve chairman whose grit and determination helped break the back of inflation in the early 1980s and put the American economy on a path to extended growth, has died. He was 92.Volcker’s career in economics and public service spanned seven decades and several administrations. In the early 1960s he served as director of financial analysis in President Kennedy’s Treasury Department and a decade later was a principal strategist in the Nixon administration’s move to de-link the dollar from gold -- a profound shift that led to the collapse of the post-World War II global monetary system known as the Bretton Woods arrangement.The 6-foot-7 Volcker was widely seen as a man of high principles and unwavering fortitude, and organizations including the United Nations sought his leadership or advice on cases involving institutional integrity and public trust.President Obama tapped Volcker as an economic advisor during his 2008 campaign for … [Read more...] about Paul Volcker, the Fed chairman who reined in runaway inflation, dies at 92