Even more trouble for the oil majors. Venezuela’s President Chavez has announced a new law that nationalizes the last remaining oil production sites that are under foreign company control.
The nationalizations, which affect oil production in the heavy fuel Orinoco Oil Belt, will take effect on May 1st of this year, until which time companies may [...]

More trouble for the oil majors. Russia has stepped up the pressure on a key asset held by TNK-BP, BP’s Russia venture, as Lord Browne, BP embattled chief executive, arrived in Moscow for talks on the transfer of BP’s key asset to the Russian state.
Oleg Mitvol, the official who led the state campaign against Shell’s [...]

The United Nations Foundation and Sigma Xi, the Scientific Research Society, has released the results of a two year study which is calling for drastic reductions in fossil-fuel emissions around the world and rapid increases in spending on clean-energy research.
The report concludes that global warming is “unequivocal”. If nothing is done global temperatures could rise [...]

Someone’s taking the proverbial here. This is Greenwash to the extreme. Many people think Formula One is one of the most extravagant and polluting sports there is. Some people would not even call it a sport.
Despite its cars doing little more than four miles to the gallon, the Honda Formula One team tried to trump [...]

The Iraqi Cabinet approved the highly controversial draft oil law yesterday, despite international condemnation that its gives huge control to multinational oil companies.
The Iraqi Parliament will take up the measure when it reconvenes early next month after a recess. With all major parties endorsing the bill, approval is likely. “I very much hope the main [...]