• 4 minute Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 8 minutes Could oil demand collapse rapidly? Yup, sure could.
  • 15 minutes Oil and Trade War
  • 5 hours Could oil demand collapse rapidly? Yup, sure could.
  • 16 hours Are EVs Safer Than Combustion Engine Vehicles?
  • 2 hours U.S. Withdraws From U.N. Human Rights Council
  • 12 hours What If Canada Had Wind and Not Oilsands?
  • 21 mins Gazprom Exports to EU Hit Record
  • 19 hours Sell out now or hold on?
  • 5 hours Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 2 hours WE Solutions plans to print cars
  • 5 hours EVs Could Help Coal Demand
  • 20 hours Nopec Sherman act legislation
  • 19 hours Migrants: Italy Wants EU Border Agency In Africa, Not At Sea
  • 14 hours Australia mulls LNG import
  • 8 hours Lloyd's of London excludes coal
  • 14 hours Oil and Trade War
  • 14 hours Russia, Saudi Push For Big Hike In Oil Output Despite Iran Opposition
  • 14 hours Oil prices going down
Alt Text

Is The U.S. Solar Boom In Jeopardy?

The Trump administration is weighing…

Alt Text

Solar Costs Are Dropping Much Faster Than Expected

The U.S. Department of Energy…

Alt Text

What Bitcoin And Solar Have In Common

A new approach to solar…

Jen Alic

Jen Alic

 

More Info

Trending Discussions

Buffett Rumor Boosts Beleaguered Suntech

After filing for bankruptcy and seeing its stock fall 40% when it default on $541 million in bonds, Chinese equity Suntech Power Holdings Co. (STP) has rallied on rumors that Warren Buffett may buy the company.

Suntech’s rally brought other languishing Chinese solar companies along with it at it rose 0.4% to 89.44 at the close of trading in New York on 8 April. According to Bloomberg, after falling 40% following the default, Suntech rose as much as 28% after a Hong Kong news service said Buffet’s MidAmerican Energy Holdings Co. might buy the Chinese manufacturer.

No one’s quite sure why Buffett might want to buy Suntech, with all the debt he would inherit at a time when solar prices are low. There has been no confirmation from MidAmerican Holdings that any deal is in the works.

Related article: Solar Industry Finally Producing More Energy than it Consumes

Chinese lenders signed a bankruptcy petition for Suntech over the company’s debt in excess of $2.2 billion. Suntech continues to produce solar panels, however, further compounding the oversupply problem and forcing more drops in prices.

Solar stocks are extremely volatile right now and unable to deal with the combination of oversupply and declining demand at a time when government subsidies are being slashed.

By. Jen Alic of Oilprice.com


x


Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News