SolarCity (NASDAQ:SCTY) Up in Pre-Market

Jeff Siegel

Written By Jeff Siegel

Posted June 18, 2013

  • Total SA (NYSE:TOT) and China National Petroleum Corp. have finalized a deal to develop oil and gas assets in Tajikstan with Tethys Petroleum (TSX:TPL). China has been foaming at the mouth for years to gain access to these resources, and this latest deal will make it happen. The first phase of exploration is expected to run between $80 million and $100 million. The reserves in Tajikstan could supply China with all its necessary natural gas for more than two decades.
  • SolarCity (NASDAQ:SCTY) has noted in a regulatory filing that it’s expecting to deploy 270 megawatts in 2013. This is up from 250 MW that was reported in January. The company has also announced that it’s going to register 2.8 million new shares and sell about $200 million in debt. The stock is slightly up in pre-market at $36.25.
  • Ethanol advocates recently boasted that ethanol helps reduce gas prices. But the more you dig into the numbers, the more apparent it becomes that nothing could be further from the truth. In fact, based on the subsidy program designed to keep the ethanol industry afloat, one could argue that ethanol is one of the largest taxpayer burdens facing Americans today. You can read more about that here.

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