Brian Melley Associated Press Published 12:22 PM EDT Aug 12, 2019 Kings Canyon National Park, Calif. – The thick scent of smoke hung in the midday air when a trail along the Kings River opened up to an ominous scene: flames in the trees and thick gray smoke shrouding canyon walls. Firefighters were on the job. In fact, they had started the blaze that chewed through thick ferns, blackened downed trees and charred the forest floor. The prescribed burn – a low-intensity, closely managed fire – was intended to clear out undergrowth and protect the heart of Kings Canyon National Park from future wildfires that are growing larger and more frequent amid climate change. The tactic is considered one of the best ways to prevent the kind of catastrophic destruction that has become common from wildfires, but its use falls woefully short of goals in the U.S. West. A study published in the journal Fire in April found prescribed burns on federal land in the last 20 years … [Read more...] about Goals to fight fire with fire often fall short in U.S. West
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U.S. oil prices fall by more than 1 percent on concerns of oversupply
By Henning GloysteinSINGAPORE (Reuters) - Oil prices fell on Friday, weighed down by concerns that producers are churning out more oil than the world needs amid a bleak economic outlook.gi U.S. West Texas Intermediate (WTI) crude futures <CLc1>, were at $53.83 per barrel at 0029 GMT, 80 cents, or 1.5 percent below their last settlement.Front-month Brent crude oil futures <LCOc1> had yet to trade."Oil prices fell as concerns of further oversupply drove sentiment lower," ANZ bank said on Friday.Oil supply has surged this year, with the top-three producers of the United States, Russia and Saudi Arabia pumping out more than a third of global consumption, which stands around 100 million barrels per day (bpd).Graphic: U.S., Russian & Saudi oil production (https://tmsnrt.rs/2Rua0R8)High production comes as the demand outlook weakens on the back of a global economic slowdown.As a result, oil prices have plunged by around 30 percent since their last peaks in early … [Read more...] about U.S. oil prices fall by more than 1 percent on concerns of oversupply
Oil prices pressured by rising U.S. crude stocks, but expected OPEC supply cut supports
By Henning GloysteinSINGAPORE (Reuters) - Oil markets started Thursday timidly, with rising U.S. crude inventories pressuring prices but an expected supply cut by producer cartel OPEC offering some support.gi U.S. West Texas Intermediate (WTI) crude futures <CLc1>, were at $53.71 per barrel at 0051 GMT, 8 cents above their last settlement.Front-month Brent crude oil futures <LCOc1> had yet to trade.U.S. commercial crude oil inventories <C-STK-T-EIA> rose by 4.9 million barrels to 446.91 million barrels last week, the Energy Information Administration (EIA) said in a weekly report on Wednesday. That was the highest level since December 2017.U.S. crude oil production <C-OUT-T-EIA> remained at a record 11.7 million barrels per day (bpd), the EIA said."U.S. inventory data ... continued to show significant supply builds, which comes on the back of sustained record U.S. crude oil production," said Stephen Innes, head of trading for Asia-Pacific at futures brokerage … [Read more...] about Oil prices pressured by rising U.S. crude stocks, but expected OPEC supply cut supports
Oil prices stable on expected OPEC cuts, but surging U.S. supply drags
By Henning GloysteinSINGAPORE (Reuters) - Oil prices were stable on Friday, supported by expected supply cuts from OPEC but held back by record U.S. production.gi U.S. West Texas Intermediate (WTI) crude oil futures <CLc1> were at $56.5/ per barrel at 0132 GMT, up 12 cents from their last settlement.Brent crude oil futures <LCOc1> were up 7 cents at $66.69 a barrel.Prices were mainly supported by expectations the Organization of the Petroleum Exporting Countries (OPEC) would start withholding supply soon, fearing a renewed rout such as in 2014 when prices crashed under the weight of oversupply.However, Morgan Stanley warned a cut by the Middle East dominated producer cartel may not have the desired effect."The main oil price benchmarks - Brent and WTI - are both light-sweet crudes and reflect this glut," the U.S. bank said."OPEC production cuts are usually implemented by removing medium and heavier barrels from the market but that does not address the oversupply of … [Read more...] about Oil prices stable on expected OPEC cuts, but surging U.S. supply drags
U.S. carriers join up in East Asia for ‘complex’ warfare drills
TOKYO (Reuters) - Two U.S. aircraft carriers with around 150 fighter jets are conducting "complex" warfare drills in the Philippine Sea, the U.S. Navy said on Thursday, in a show of force in waters south of China and within striking distance of North Korea. The two carriers, the Japan-based USS Ronald Reagan and the USS John C Stennis deployed from the U.S. West coast, are carrying out air, surface and anti-submarine warfare operations, the U.S. Seventh Fleet said in a news release.gi The U.S. Navy has conducted such operations before, including drills by three carriers last year as tensions with North Korea escalated. The latest, which coincides with U.S. Vice President Mike Pence's visit to the region, comes as denuclearisation talks with North Korea show little sign of progress and amid a tit-for-tat trade spat with China."Bringing two carrier strike groups together provides unparalleled naval combat power," U.S. Seventh Fleet commander Vice Admiral Phil Sawyer said.The USS Reagan … [Read more...] about U.S. carriers join up in East Asia for ‘complex’ warfare drills