Torrential rains fall in the Houston area more often than they used to, according to an unpublished analysis from state climatologist John Nielsen-Gammon, the Houston Chronicle reports.
"He's probably spot on," said Ronald L. Sass, fellow in global climate change. "He's as close to the truth as I've seen."
Houston Chronicle (subscription required): http://bit.ly/1T3RiJZ.
Saudi Arabia's state-owned oil company is likely to increase its production to meet rising demand this year, according to the company's chief executive, The Wall Street Journal reports.
"If the Saudis want to avoid being stuck with most of their reserves stranded underground, the signs now say they better sell it off sooner rather than late," said fellow Jim Krane.
The Wall Street Journal (subscription required): http://on.wsj.com/1OdHctj
Saudi Arabia dismissed its long-serving oil minister, Ali al-Naimi, as the country grapples with weak oil prices, The Wall Street Journal reports.
"They need a ministry that can take a more holistic approach to energy," said Jim Krane, Wallace S. Wilson Fellow for Energy Studies. “They’re working to rationalize their energy policy.”
The Wall Street Journal (subscription required): http://on.wsj.com/1TOJvSD
Zimbabwe, which uses a multicurrency system, has run out of physical cash, so its central bank plans to design and circulate new currency worth the equivalent of the U.S. dollar—but it won't actually be certified American currency. Russell Green, Will Clayton Fellow in International Economics, comments in The Atlantic: http://theatln.tc/1O4ysWl.