Fox Business - The Power to Prosper
Search Site


Texas regulator orders oil company to stop accepting bitcoins

A state securities regulator has ordered an exploration and production company to stop accepting bitcoins as payment for investments in its Texas oil wells.Texas Securities Commissioner John Morgan entered an emergency order on Monday against tiny Balanced Energy LLC, which claimed it was the first energy company to accept the virtual currency, according to the regulator."The price of digital currency is subject to extreme swings, which could affect the amount of money available for business operations," the regulator said in a statement.Bitcoin is a digital currency that, unlike conventional money, is bought and sold on a peer-to-peer network that lacks central control. Its value has soared in the last year, and the total worth of bit coins minted is now about $7 billion.Balanced Energy, based in the Dallas area, has drilled 33 wells on 10,500 acres in central Texas. According to the order, Balanced Energy is offering a stake in two exploration projects for about $31,000.Executives at...

Read More

  1. Utility Deals Hurting Investors?

    ISI Group senior managing director Greg Gordon weighs in on deregulation in the electric industry and how it impacts business.

  2. 2016 campaigning starting earlier than ever?

    2016 campaigning starting earlier than ever?

  3. Cancer patient scores touchdown for Cleveland Browns

    5 year-old wows the crowd

  4. Utilities Hit As Exelon, FirstEnergy Downgraded

    Utilities stocks lagged the broader market Tuesday following two high-profile downgrades, underscoring the poor performance the sector has seen in May. Deutsche Bank...

  5. FirstEnergy 1st-Quarter Net Falls 36% on Lower Capacity Prices

    FirstEnergy Corp.'s (FE) first-quarter earnings fell 36% as lower capacity prices contributed to the diversified energy company's revenue decline.FirstEnergy's $4.4 ...

  6. FirstEnergy 1st-Quarter Net Falls 36% on Lower Distribution Volume

    FirstEnergy Corp.'s (FE) first-quarter earnings fell 36% as cooler weather again contributed to the diversified energy company's lower distribution volume.FirstEnerg...

  7. Analysis: Spills flame Canadian oil debate, but won't curb flows to U.S

    Two high-profile oil spills won't stem the now-record flow of Canadian oil into the United States, despite the frenzy that the spills triggered among friends and foe...

  8. Research the Focus of Obama's Second Term Energy Speech

    President Barack Obama will try to turn the page on bitterly partisan fights over energy policy on Friday, focusing his first energy speech of his second term on pro...

  9. Paul Ryan takes on critics of budget plan

    GOP lawmaker defends ambitious cost-cutting proposal

  10. High-Grade Companies Float $6 Billion of Bonds

    Investor appetite for new deals enabled another fistful of companies to tap the high-grade bond markets Tuesday.Seven companies borrowed a combined $6 billion, follo...

  11. Busy Session for Corporate Bond Sales

    Five highly rated companies sold a combined $12.5 billion of bonds in the third-busiest session of the year on Thursday.The spate of deals was led by international m...

  12. FirstEnergy Swings to 4th-Quarter Loss Amid Pension-Related Adjustments

    FirstEnergy Corp. (FE) swung to a fourth-quarter loss amid big pension-related adjustments and other items.The diversified energy company's $4.4 billion acquisition ...

  1. Are utility stocks a good defensive play?

    Chapwood Investments’ Ed Butowsky weighs in on utility stocks.

  2. Dividend Stocks in Demand

    The major market averages are lower today after a disappointing December jobs report raised concerns that the economic recovery may not be as robust as expected.On t...

  3. Utility Stocks Rally After Dec. Job Gains Miss Views

    All 31 utilities stocks in the S&P 500 are rallied Friday as falling Treasury yields fueled by a very disappointing December jobs report boost the allure of dividend...

  4. Serial energy entrepreneur on raising funding

    Sealed CEO Andy Frank on how selling his first energy startup Efficiency 2.0 has helped him with his second startup.

  5. Telecom, Other High-Yielding Stocks Benefit From Debt-Ceiling Worries

    Is the uncertainty over the debt ceiling and a possible default driving investors into dividend-paying stocks?  Sure looks that way.  The telecom sector, known for i...

  6. Entrepreneur sees power in city water pipes

    Frank Zammataro’s hydropower startup Rentricity seeks to turn municipal water utilities into sources of electricity.

  7. Ex-Wall Streeter Turns Eye to Untapped Hydropower

    Former Merrill Lynch banker Frank Zammataro was inspired by a water tower to explore the possibility of creating energy from municipal water facilities.  

‹ Prev12345Next ›
Freebase CC-BY
Source: FirstEnergy on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL