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Trump Administration Drills Down on Alaska’s Arctic Refuge
Trump Administration Drills Down on Alaska’s Arctic Refuge The deeply unpopular plan would benefit a few rich oil companies while threatening people, wildlife and the climate. The Trump administration is barreling ahead with plans to drill for oil in Alaska’s Arctic National Wildlife Refuge, the largest refuge in the country and an area of global ecological […]
WSJ Confirms: Trump-Appointed Venezuela Coup Leader Plans Neoliberal Capitalist Shock Therapy
WSJ Confirms: Trump-Appointed Venezuela Coup Leader Plans Neoliberal Capitalist Shock Therapy Venezuela’s US-appointed coup leader Juan Guaidó plans to privatize state assets and give foreign corporations access to oil, the Wall Street Journal admitted. The Wall Street Journal reported that Venezuela’s US-appointed coup leader Juan Guaidó has already drafted plans for “opening up Venezuela’s vast oil sector […]
Loonie Slumps As Bank Of Canada Folds On Economic Enthusiasm
Loonie Slumps As Bank Of Canada Folds On Economic Enthusiasm Amid near-record-low Canadian crude prices and a housing crisis, The Bank of Canada appears to have finally given up its narrative that ‘everything is awesome’. The BoC walked back much of its enthusiasm about the nation’s outlook in a decision that kept interest rates unchanged, […]
Big Oil Won’t Spend Despite Fat Profits
Big Oil Won’t Spend Despite Fat Profits Higher oil prices are expected to leave the oil industry flush with cash, but the “capital discipline” mantra remains. Market watchers have wondered whether top oil executives would eschew with tight-fisted spending plans once their pockets fattened up again. “We’re laser focused on disciplined free cash flow generation […]
The Implications Of A Fractured U.S., Saudi Alliance
The Implications Of A Fractured U.S., Saudi Alliance After the resurgence of the U.S. oil industry in recent years due to hydraulic fracking and the shale oil revolution, most thought the days of Middle Eastern oil producers, Saudi Arabia in particular, being able to threaten use of the so-called oil weapon as geopolitical leverage or […]
The Oil Industry Needs Large New Discoveries, Very Soon
The Oil Industry Needs Large New Discoveries, Very Soon Market participants and analysts are all focused on the imminent oil supply gap that is opening with the U.S. sanctions on Iran just five weeks away. But beyond the shortest term, a larger and more alarming gap in global oil supply is looming—experts forecast that unless […]
Seawalls for oil refineries and other ironies of climate change adaptation
Seawalls for oil refineries and other ironies of climate change adaptation A friend of mine includes a saying with each of his emails that goes like this: “It shouldn’t be easier to imagine the end of civilization than the end of air conditioning.” But in most depictions of the end of civilization at the cinema […]
Life, the Sea and Big Oil
Life, the Sea and Big Oil Photo by Glenn Beltz | CC BY 2.0 “It is a curious situation that the sea, from which life first arose, should now be threatened by the activities of one form of that life. But the sea, though changed in a sinister way, will continue to exist: the threat […]
Alberta’s Aggressive Renewable Energy Push
Alberta’s Aggressive Renewable Energy Push One Canadian province has set its sights on generating almost a third of its electricity from renewable sources by 2030. This will take some US$7.77 billion (C$10 billion) in investments by that year to add 5 GW of renewable capacity, creating more than 7,000 jobs. The province is Alberta—the center […]
North Sea Oil Has Escaped Its Death Spiral
North Sea Oil Has Escaped Its Death Spiral The oil industry is expected to increase spending in the North Sea and the number of projects that could receive a greenlight is set to rise this year for the first time in half a decade. An estimated 12 to 16 green-and brown-field projects are expected to […]
WORLD’S LARGEST OIL COMPANIES: Deep Trouble As Profits Vaporize While Debts Skyrocket
WORLD’S LARGEST OIL COMPANIES: Deep Trouble As Profits Vaporize While Debts Skyrocket The world’s largest oil companies are in serious trouble as their balance sheets deteriorate from higher costs, falling profits and skyrocketing debt. The glory days of the highly profitable global oil companies have come to an end. All that remains now is a […]
A Hot Mess
A Hot Mess It wasn’t until more than a week after Hurricane Katrina slammed into New Orleans in 2005 that the full extent of the damage was recognized and so it will go with the hot mess where Houston used to be. Mostly, it is inconceivable that the business activity which made Houston the nation’s […]
When the Butterfly Flaps Its Wings
When the Butterfly Flaps Its Wings It remains to be seen what the impact will be from Mother Nature putting the nation’s fourth largest city out-of-business. And for how long? It’s possible that Houston will never entirely recover from Hurricane Harvey. The event may exceed the physical damage that Hurricane Katrina did to New Orleans. […]
Oil Industry To Waste Trillions As Peak Demand Looms
Oil Industry To Waste Trillions As Peak Demand Looms ExxonMobil and its peers risk blowing $2.3 trillion on oil projects that will not be needed if the world hits peak demand in the next decade. A new report from The Carbon Tracker Initiative analyzed what would happen if the oil market saw demand peak by […]
