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Tag: Oil


The Greater Middle East Reacts to Britain’s Exit From the EU (Video)

The oil-rich countries of the Gulf Cooperation Council may see additional buying opportunities in the British market in the wake of Brexit.

Posted on Jun 26, 2016 READ MORE


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The Desperate Plight of Petrostates

Once so wealthy from oil sales that they could finance wars, megaprojects, and domestic social peace simultaneously, Russia, Saudi Arabia and others are now beset by internal strife or are on the brink of collapse as oil prices remain at ruinously low levels.

Posted on May 26, 2016 READ MORE



Angelenos Press for Change in California With Fossil Fuel Industry Protest

Although the state is ahead of the curve on renewable energy, Saturday’s rally in Los Angeles was a reminder to politicians that there’s far to go before we “Break Free” of our dependence on coal, oil and gas.

Posted on May 19, 2016 READ MORE



Reinventing Saudi Arabia After Oil: The Prince’s $2 Trillion Gamble

Prince Muhammad Bin Salman, 30, the deputy crown prince of Saudi Arabia, laid out his vision for Saudi Arabia on Monday in a plan called “Vision 2030.”

Posted on Apr 27, 2016 READ MORE



Three Surprising Reasons Saudi Arabia May Be Getting Out of the Oil Business (Video)

Saudi Crown Prince Mohammad bin Salman announced Friday that Saudi Arabia would use its oil assets to back a $2 trillion sovereign wealth fund.

Posted on Apr 3, 2016 READ MORE



Energy Wars of Attrition: The Irony of Oil Abundance

The oil attrition wars may not lead us into a future of North American triumphalism or even to a more modest Saudi version of the same but into a strange new world in which an unlimited capacity to produce oil meets an increasingly crippled capitalist system without the capacity to absorb it.

Posted on Mar 11, 2016 READ MORE



ExxonMobil—More Than 50 Proud Years of Melting Glaciers

Back in 1962, the fossil fuels giant was bragging about its ability to heat up the Arctic.

Posted on Feb 19, 2016 READ MORE



Obama Takes a Walk on the Greener Side

As Nevada short-circuits its solar boom, the White House gets more committed to renewable energy.

Posted on Jan 26, 2016 READ MORE



We Shouldn’t Take Their Oil

Donald Trump’s slippery slogan is delusional.

Posted on Jan 14, 2016 READ MORE



Political Turmoil in a Time of Low Energy Prices

The current rout in oil prices threatens a profound shift in the geopolitical fortunes of major energy-producing countries. Many are already experiencing economic and political turmoil, and the longer low prices persist, the more devastating the consequences are likely to be.

Posted on Jan 13, 2016 READ MORE



The Economy in 2016: Buying Time Before All the Old Problems Resurface

What’s in store for the world economically in the new year? While he cautions against predictions, Guardian economics editor Larry Elliott projects that “there will be no explosion in 2016, but a fuse will be lit.”

Posted on Dec 28, 2015 READ MORE



2015 in Review: Amid the Gloom Covering Our Planet, Some Rays of Light

On the winter solstice, a Truthdig review of the year’s environmental stories finds cause for hope in our poison-riddled world.

Posted on Dec 22, 2015 READ MORE



How Oil Industry Lobbyists Played the Long Game to Access a Fuel-Rich Corner of Alaskan Wilderness

The story of how the oil company ConocoPhillips overcame years of resistance from courts, native Alaskans, environmental groups and several federal agencies reveals the truth about how Washington really works.

Posted on Dec 22, 2015 READ MORE



‘Progress’ Is Fatal

Why did the Paris climate accord omit the words “fossil fuel,” “oil” and “coal”? Because the world’s great muck-a-mucks are promising to limit emissions without challenging the beast that creates them.

Posted on Dec 21, 2015 READ MORE



Has the Falling Price of Oil Just Won the Democrats the Presidency?

The price of petroleum fell Monday to levels not seen since the crash of 2008, at one point hitting $35 a barrel in New York. But will low gasoline prices help the Democratic nominee?

Posted on Dec 15, 2015 READ MORE



Capitalism’s Cult of Human Sacrifice

Manchester, a poor Mexican-American neighborhood in Houston, is just one example of how industrial capitalism is killing us on an altar of profit.

Posted on Dec 13, 2015 READ MORE



Uruguay Now Gets Nearly 95 Percent of Its Electricity From Renewable Sources

Less than 10 years after instituting a new energy policy, the country has slashed its carbon footprint without government subsidies or higher consumer costs, reports the country’s head of climate change policy.

Posted on Dec 5, 2015 READ MORE


VIDEO: Who Is Buying Islamic State’s Oil?

Oil is Islamic State’s lifeline—a business that provides the terrorist group with more revenue than any other source, helping to fund its war in Syria and Iraq, as well as providing electricity to the 10 million people living under the group’s control. So who are the individuals and groups involved in refining and selling this oil? And where does it end up?

Posted on Dec 4, 2015 WATCH & LISTEN



A Perfect Storm Is Headed for Fossil Fuel Assets

Coal, oil and gas sectors warned that trillions of dollars of assets could be stranded if a global agreement on limiting climate change is reached at the U.N. summit in Paris.

Posted on Nov 26, 2015 READ MORE



For Paris: On Russian Missiles Hitting Syria as Islamic State Oil Facilities Are Targeted (Video)

The Syrian Observatory for Human Rights said Russian airstrikes on the eastern province of Deir al-Zor killed 36 on Friday—a week after the Paris attacks claimed by Islamic State. But bombing alone will not win the war with the militant group.

Posted on Nov 22, 2015 READ MORE


VIDEO: Manufacturing Terror: How Saudi Arabia Helped Create Islamic State

In light of the latest terrorist attacks in Paris, we take a look back at an interview with CIA whistleblower John Kiriakou, who singled out Saudi Arabia for its role in creating radical extremism in the Middle East.

Posted on Nov 16, 2015 WATCH & LISTEN



Obama Rejects Keystone XL: This Is Big ... and Just the Beginning

Just a few years ago, insiders and experts wrote us off and assured the world Keystone XL would be built by the end of 2011. Together, ranchers, tribal nations and everyday people beat this project back, reminding the world that Big Oil isn’t invincible—and that organized people can win over organized money.

Posted on Nov 6, 2015 READ MORE



Saving Humanity From Climate Chaos Means Saying No to Business as Usual

Corporations should not be a part of climate negotiations at the upcoming United Nations talks in Paris. They are part of the problem, not the solution.

Posted on Nov 5, 2015 READ MORE



Soaring Heat and Humidity Pose Deadly Threat

Parts of the Arabian Gulf region—a prime source of the oil that helps fuel climate change—are most at risk of becoming uninhabitable for humans unless global warming is tackled.

Posted on Oct 29, 2015 READ MORE



Are the Fracking Vampires Going Bust?

Oil is crashing, and gas prices at the pump keep sliding lower and lower. As of October, a barrel of Brent crude (the global standard) is selling for less than $50—nearly half of what a barrel cost last year at this time. What does all of this mean? You wouldn’t think that a significant drop in oil prices could actually be a good thing for the environment and a bad thing for Big Oil and dirty frackers, yet it may well be.

Posted on Oct 28, 2015 READ MORE


VIDEO: John Oliver Urges Us to Wake Up to How Big Oil Is Killing People and Destroying North Dakota

In another informative and funny segment of “Last Week Tonight,” John Oliver explores what has happened to North Dakota since the start of its oil boom.

Posted on Oct 12, 2015 WATCH & LISTEN



Investors Opt Out of Fossil Fuels as Climate Summit Nears

As momentum builds for a new deal on climate change, investors are becoming increasingly nervous about having their cash in fossil fuels.

Posted on Sep 24, 2015 READ MORE



Exxon’s Own Research Confirmed the Role of Fossil Fuels in Global Warming Decades Ago

A groundbreaking investigation reveals how the company’s top executives were warned of possible catastrophe from global warming in the 1970s, then led efforts to block solutions.

Posted on Sep 16, 2015 READ MORE



Oil Giants Crush California Bill Aimed at Reducing Gasoline Use

The oil industry has derailed an environmental bill designed to reduce gasoline use by up to 50 percent by 2030.

Posted on Sep 10, 2015 READ MORE



Canada Clears Way for Ecuadorean Case Against Chevron Over ‘Amazon Chernobyl’

Canada’s Supreme Court has ruled that Ecuadorean villagers can go after Canadian assets of the U.S.-based oil company Chevron in one of the most bitterly contested environmental cases in history.

Posted on Sep 6, 2015 READ MORE


Obama Drills









Posted on Sep 3, 2015 ENLARGE



Why an Oil Glut May Lead to a New World of Energy

While most oil-company executives continue to insist that a turnaround is sure to occur in the near future, some analysts are beginning to wonder if oil’s diminished profitability doesn’t actually signal a fundamental transformation of the industry.

Posted on Aug 14, 2015 READ MORE



Hillary Clinton’s State Department Emails, Mexico’s Energy Privatization and the Revolving Door

Recently released emails confirm that Clinton’s State Department helped break state-owned company Pemex’s oil and gas industry monopoly in Mexico and open the resource to international businesses. And two of the people responsible now work in the private sector and stand to gain financially from the reforms they helped create.

Posted on Aug 13, 2015 READ MORE



Obama Clears Shell to Drill in Arctic—With One Restriction

President Obama has removed one of the last obstacles to oil drilling in the Arctic and granted Shell permission to develop new exploratory wells that could bring the company enormous profits.

Posted on Jul 23, 2015 READ MORE



U.K.’s Leading Scientists Urge Immediate Climate Action

The pre-eminent institutions in British science and engineering—some with long records of promoting fossil fuels—say the U.K. should lead the way to a zero carbon world.

Posted on Jul 23, 2015 READ MORE



Are Arab Oil Monarchies Divided Over the Iran Deal? (Video)

There is reason to think that the fabulously wealthy Gulf Cooperation Council (GCC), comprised of Saudi Arabia, Kuwait, Bahrain, Qatar, the United Arab Emirates and Oman, is deeply divided over the U.N. Security Council deal with Iran.

Posted on Jul 23, 2015 READ MORE



Carlos Osorio / AP Photo

Fossil Fuel Fraud

Oil, gas and coal companies have damaged our planet by lying to the public about climate change, even though they have known for decades that it is real and man-made.

Posted on Jul 16, 2015 READ MORE



Why Is Venezuela Trying to Annex Two-Thirds of Neighboring Guyana?

After the discovery of a potentially rich oil deposit in the contentious Essequibo region in Guyana, Venezuela’s President Nicolás Maduro appears intent on exploiting his neighbor’s land.

Posted on Jul 15, 2015 READ MORE



Despite Pledge, ExxonMobil Paid Millions Toward Climate Change Denial

The oil giant gave over $2.3 million to members of Congress and a corporate lobbying group to support climate change denial, even though it pledged to cease such funding in 2007.

Posted on Jul 15, 2015 READ MORE



Up to 105,000 Gallons of Oil Spilled on California Coast; Gov. Jerry Brown Declares Emergency

“We will do everything necessary to protect California’s coastline,” the governor said in a statement Wednesday, after news broke that the oil spill off the coast of Santa Barbara that began on Tuesday may be far greater in magnitude than originally expected.

Posted on May 21, 2015 READ MORE



Obama Drills a Hole in His Climate Policy

Here are two facts that cannot be reconciled: The planet has experienced the warmest January-through-March on record, and the Obama administration has authorized massive new oil drilling in the Arctic Ocean.

Posted on May 20, 2015 READ MORE



AUDIO: ‘The Amazon Is Not for Sale’: a Poem About the Destruction of the Environment for Profit

L.E. Goldstein’s lyrical lines fill the imagination with the beauty of an area that is quickly becoming one of the many casualties of a world overrun with capitalist greed and corruption.

Posted on May 13, 2015 READ MORE


Oil Train Safety









Posted on May 10, 2015 ENLARGE



Despite Known Risk of Spill, U.S. to Let Shell Drill in Arctic

In spite of estimates of a 75 percent or greater chance of an ecologically disastrous spill, the U.S. government is expected this week to give the green light to Shell Oil’s plan to restart drilling for petroleum in the Arctic.

Posted on Mar 23, 2015 READ MORE



The Real Story Behind the Oil Price Collapse

With demand stagnant and excess production the story of the moment, the very strategy that once generated record-breaking profits for the oil industry has suddenly become hopelessly dysfunctional.

Posted on Mar 13, 2015 READ MORE



Dear Sweden: Your Dispute With Saudi Arabia Makes This a Good Time to Adopt Electric Cars (Video)

You wonder if part of the friction between Sweden’s new left-wing government and Saudi Arabia is between a strong female leader like Swedish Foreign Minister Margot Wallström and the geriatric male chauvinist leadership of Saudi Arabia, who won’t even let women drive.

Posted on Mar 12, 2015 READ MORE



Why You Should Dump Your Oil, Coal and Gas Stocks If You Ever Want to Retire

What is the total value of big energy corporations’ oil, gas and coal fields—which give them their stock prices and are counted as assets for borrowing purposes? Those hydrocarbon resources are actually worth zero.

Posted on Mar 11, 2015 READ MORE



The Great Game in the Holy Land

Almost all the current wars, uprisings and other conflicts in the Middle East are connected by an increasingly frenzied competition to find, extract and market fossil fuels whose future consumption is guaranteed to lead to a set of cataclysmic environmental crises.

Posted on Feb 27, 2015 READ MORE


Tankers









Posted on Feb 26, 2015 ENLARGE



Obama Prepared to Veto Keystone XL Pipeline Bill on Tuesday (Updated)

He said he’d do it, and it looks like he means business: President Obama is ready to flex his executive power and veto the divisive bill designed to launch construction of the proposed Keystone XL oil pipeline that would span from the U.S.-Canadian border to the Gulf Coast.

Posted on Feb 24, 2015 READ MORE


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