Citigroup is out with another report anticipating U.S. energy independence by 2020, a time when "the bottom of today’s trading range ($90-$120/bbl) is going to be the top of the likely trading range" for crude oil. Among companies Citi mentions as big players and potential beneficiaries: CMI, NUE, ECA, CAT, DE, GE, MMM and SI.
Alstom SA (ALSMY.PK) CEO Patrick Kon says that the French engineering concern won't pursue acquisitions that will harm shareholder value after reports tipped off that the company planned to make takeovers in the wind energy sector.
Siemens (SI), Alstom SA (ALSMY.PK), Hyundai and Samsung are among those expressing an interest in building and operating a $21B high-speed rail-link betweem St. Petersburg and Moscow in time for the soccer World Cup in 2018. OAO Russian Railways intends to name a shortlist in September or October.