Bad decision by Blackstone; worse timing. Putin and OPEC must be pleased.
Blackstone Inc., once a major player in shale patches, is telling clients its private equity arm will no longer invest in the exploration and production of oil and gas, according to people with knowledge of the talks. The firm’s next energy fund won’t back those upstream investments — a first for the strategy.
Bloomberg
Meanwhile:
As the United States continues to tie its hands with regard to the transportation of natural gas, a fuel that has actually led to a large decrease in CO2 emissions over coal, Russia and China reached an agreement under which Russia will supply 100 million tons of coal to China so that China can continue to open up new coal-fired power plants
Forbes
Embargo Russia, not US producers!
Bud's Offshore Energy (BOE) 