More U.S. Steel Layoffs Coming, CEO Says

U.S. Steel Corp. expects to lay off more workers this year as the Downtown-based steel manufacturer accelerates cost-cutting to deal with a significant downturn in demand, CEO Mario Longhi said Wednesday.

The company has laid off 2,800 workers since the beginning of the year as it reduces steel production at all its plants in North America. It has issued notices to 9,000 of its workers warning them that they could be cut which gives the company flexibility to react to worsening conditions.

Longhi told analysts that the number of layoffs will go higher, but he didn’t provide specifics.

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Gas Production From Marcellus Shale Sets Record Despite Fewer New Wells Going Online

English: Cropped portion of image from USGS report showing extent of Marcellus Formation shale (in gray shading). (Photo credit: Wikipedia)

Pennsylvania drillers are pulling record amounts of natural gas from the Marcellus shale even as they bring fewer new wells online, according to state data released on Monday.

About 5,400 shale wells produced nearly 2 trillion cubic feet of gas during the first six months of the year, a 14 percent increase in production over the past six months of 2013, the data from the state Department of Environmental Protection show.

Energy companies accomplished the record despite connecting fewer than 500 new wells during the period. Previous semiannual reports showed an average of 675 new wells every six months.

“We’re seeing the results of technical developments that allow much greater efficiency,” said Kent Moors, executive chair of the global energy symposium at the World Affairs Council of Pittsburgh.

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