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Shell says its oil production has peaked and will fall every year
Shell says its oil production has peaked and will fall every year Royal Dutch Shell (RDSA) said its oil production and carbon emissions have peaked as it detailed plans to gradually wean itself off fossil fuels. Climate activists said it hadn’t gone far enough. The Anglo-Dutch company said in a statement on Thursday that it expects its oil production to decline by […]
Shell Sued in the Netherlands for Insufficient Action On Climate Change
Shell Sued in the Netherlands for Insufficient Action On Climate Change Plaintiffs allege Shell’s current business model threatens human rights because the oil giant is knowingly undermining the world’s chances to keep warming below 1.5 degrees Celsius. Photo Credit: Paul Ellis/Getty Images Seven environmental and human rights organizations in the Netherlands have filed suit against […]
Another Crucial Canadian Pipeline Runs Into Trouble
Another Crucial Canadian Pipeline Runs Into Trouble Late last year, Royal Dutch Shell gave the greenlight to a massive LNG export terminal on Canada’s Pacific Coast, one of the largest investments in LNG in years. But like other fossil fuel projects in Canada, the plans have run into some trouble. Shell’s LNG Canada project hinges […]
Royal Dutch Shell signs deals to sell oilsands assets
Royal Dutch Shell signs deals to sell oilsands assets Anglo-Dutch energy giant shedding interests in Athabasca, Peace River and other leases Royal Dutch Shell CEO Ben van Beurden said the deals revealed Thursday are are a ‘significant step’ in re-shaping Shell’s portfolio in line with its long-term strategy. (AP Photo/Peter Dejong, File) Royal Dutch Shell […]
Shell Scraps Oil-Sands Project, Points at Big Issue For Canada
Shell Scraps Oil-Sands Project, Points at Big Issue For Canada On October 27, the Anglo-Dutch oil major announced that it was pulling the plug on its Carmon Creek oil sands project in Alberta, Canada. The project was expected to yield 80,000 barrels per day in oil sands production, which was originally greenlighted in 2013. However, the markets […]
A New Era For Canadian Oil And Gas, For Better Or Worse
A New Era For Canadian Oil And Gas, For Better Or Worse Canadian voters kicked out the conservative government in the October 19 election, a party that had been in power for a decade. Polls had predicted a slight lead for the Liberal Party, but in a surprise result, the Liberals actually won a majority of […]
Obama Slams The Door On Future U.S. Arctic Drilling
Obama Slams The Door On Future U.S. Arctic Drilling The Obama administration officially shut the door on Arctic drilling, a move that could prevent any new drilling for years to come. The U.S. Department of Interior announced on October 16 that it would cancel two lease sales for offshore acreage, which had been scheduled to take place […]
Michael Klare, Tipping Points and the Question of Civilizational Survival
Tipping Points and the Question of Civilizational Survival In mid-August, TomDispatch’s Michael Klare wrote presciently of the oncoming global oil glut, the way it was driving the price of petroleum into the “energy subbasement,” and how such a financial “rout,” if extended over the next couple of years, might lead toward a new (and better) world of energy. […]
With Shell’s Failure, U.S. Arctic Drilling Is Dead
With Shell’s Failure, U.S. Arctic Drilling Is Dead Arctic Drilling in the U.S. is dead. After more than eight years of planning and drilling, costing more than $7 billion, Royal Dutch Shell announced that it is shutting down its plans to drill for oil in the Arctic. The bombshell announcement dooms any chance of offshore oil development […]
U.S. allows Shell to drill for oil in Arctic Ocean off Alaska
U.S. allows Shell to drill for oil in Arctic Ocean off Alaska Company hopes to drill 2 wells in the Chukchi Sea by late September The U.S. government on Monday gave Royal Dutch Shell the final permit it needs to drill for oil in the Arctic Ocean off Alaska’s northwest coast for the first time […]
Global Oil Supply More Fragile Than You Think
Global Oil Supply More Fragile Than You Think Many oil companies had trimmed their budgets heading into 2015 to deal with lower oil prices. But the rebound in April and May to $60 per barrel from the mid-$40s suggested that the severe drop was merely temporary. But the collapse of prices in July – owing […]
6 Warning Signs That the Economy Is in Trouble
6 Warning Signs That the Economy Is in Trouble On July 14, I wrote about the danger developing in the transportation sector, and things are looking even worse today. Here’s what I mean: Look Out Below #1: Royal Dutch Shell reported its quarterly results last week—$3.4 billion, down from $5.1 billion for the same quarter a […]
Layoffs Surge As Oil Price Outlook Remains Sober
Layoffs Surge As Oil Price Outlook Remains Sober Lately the leaders of some of the world’s biggest energy companies have been saying oil prices will remain depressed for some time – perhaps for the next five years – and now they’ve decided to cut their costs in the most painful way possible: massive job cuts. […]
Canadian Economy More Damaged By Oil Prices Than Expected
Canadian Economy More Damaged By Oil Prices Than Expected Canada’s oil industry has had a rough couple of months with production and exports taking a hit. Low oil prices are cutting into the profits of major producers. Producing from Alberta’s oil sands is costly and requires a high oil price to justify the expense. In […]
We May Not See Arctic Oil For Decades
We May Not See Arctic Oil For Decades Shell’s Arctic campaign this year will be pivotal. If the company cannot find large reserves of oil, it will likely set back Arctic oil development for a generation. The Financial Times reported that Royal Dutch Shell will not see Arctic oil come online anytime soon, even in the best […]
