Many of the oil services companies employed when new fields are developed have been laying off workers, and oil companies have been taking write-downs of their assets.
Critics claim that 3 billion euros in European funding for the Southern Gas Corridor energy project would undermine European Union climate-change targets and gloss over human rights abuses.
Whatever the advances of renewable energy, projections suggest fossil fuels will continue to dominate the global landscape for decades to come, accelerating the pace of global warming and ensuring the intensification of climate-change catastrophes.
We are committing suicide by failing to rise up in large numbers to oppose a practice that poisons our air and water, causes epidemics of cancers and other diseases, and lays a hellish hand on the ecosystem. The longer we wait for the political process to work, the more assured is our mutual destruction.
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.
Truthdig contributor and New York Times best-selling author and investigative journalist Greg Palast appeared on RT's "Breaking the Set" on Wednesday to discuss the "gross negligence" committed by BP and described in a federal judge's Findings of Fact on the circumstances that led to the 2010 Deepwater Horizon disaster that killed 11 men and turned the Gulf of Mexico into a tub of toxic soup.
Although US District Judge Carl Barbier found BP liable for “gross negligence” last week, some U media failed to mention that he let BP off the hook on punitive damages And that stuns me, given that the record seems to identify enough smoking guns to roast a sizable pigU District Judge Carl Barbier let BP off the hook on punitive damages last week, which stuns me, given that the record seems to identify enough smoking guns to roast a sizable pig .
Truthdig Editor-in-Chief Robert Scheer and the other "Left, Right & Center" panelists discuss NATO's coalition amid a cease-fire between Ukraine and pro-Russian rebels; the irony that the U.S. spies "on everybody, but we didn't know about ISIS"; a judge's ruling on BP's negligence in the Deepwater Horizon disaster; and the career of comedian Joan Rivers.
The Federal Aviation Administration has given BP energy corporation permission to use drones in Alaska, marking the first time the government agency has allowed commercial drones to fly over American land.