Ag and Energy Report May 19th

Local News
Germany’s Bayer has officially made an offer to buy Monsanto. 
 
Neither company has confirmed the terms of the deal. 
 
However, Monsanto is worth about 42 billion dollars but a buyout offer would likely be higher than that. 
 
Monsanto said its board is reviewing the offer. 
 
High inventories and low commodity prices spur consolidation in the global agri-chemicals industry.
 
Tesla needs to raise money to build all the model 3 vehicles that people ordered. 
 
So it’s going to the stock market. 
 
The electric car maker will sell $2 billion in shares to pay for it and pay some taxes as well. 
 
President Obama issued his mandate for biofuel production for next year. 
 
It seemed to make no one happy. 
 
He was aiming for a compromise between big oil and corn belt interests. 
 
The overall number — which is higher than oil companies wanted but lower than what biofuel producers sought — represents a modest increase over the 18 billion gallons of total renewable fuels the agency required for 2016.
 
A new study by researchers at the University of Texas at Austin concludes that human activity, particularly oil and gas production, has been a factor in earthquakes throughout the state for nearly 100 years.
 
The study concludes that man-made earthquakes in Texas began in 1925 and that activity associated with oil and gas production “almost certainly” or “probably” triggered 59 percent of the earthquakes detected across the state in 1975-2015.
 
 
 

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