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CommodityOilPrice.com

Batteries Are Taking the Gas Peaker’s Best Hours

Gas peakers have always had one decisive economic advantage: they were relatively cheap to build. A peaking plant could sit idle for most of the year, then start when demand and electricity prices surged. Its fuel was expensive and its efficiency often mediocre, but low upfront costs made that acceptable. The owner did not need thousands of operating hours to recover an enormous initial…

CommodityOilPrice.com

ConocoPhillips Doubles Profit to $4 Billion, Raises Dividend

ConocoPhillips more than doubled its third-quarter profit to $4 billion and raised its quarterly dividend by 11% on Thursday, joining a growing list of oil majors reporting enormous earnings gains as higher crude prices offset production disruptions caused by the Iran war. The Houston-based producer reported adjusted earnings of $3.27 per share, comfortably beating Wall Street's $2.97 estimate.…

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