A group of 40 German NGOs called on G8 Environment Ministers today to phase out fossil fuel subsidies at home and use their influence to steer the World Bank away from fossil fuels and towards a new energy revolution. A long list of German organizations, including the German NGO Forum on Environment and Development, Oxfam … Read More
Day: March 15, 2007
Pardon My Skepticism
On March 5, the New York Times published a front-page story called “Oil Innovations Pump New Life Into Old Wells.” Getting new oil from “played out” wells was the thrust of the piece; as the price of oil rises, it becomes worthwhile investing new money into old wells. The article also indirectly took on the … Read More
Development Banks’ Inconvenient Truth
Multilateral development banks concluded a two day conference in London yesterday on “Financing Clean Energy”. Non-governmental organizations were generally shut out of the meeting, restricted to a handful of participants, but a long list of oil and energy companies were in attendance and they were ready to discuss just about anything other than phasing out … Read More
Iraqi Leader’s Catch-22 Over Oil Law
The Iraqi Prime Minister, Nouri al-Maliki, fears the Americans will torpedo his government if his parliament does not pass Iraq’s controversial oil law. In what could be construed as diplomatic blackmail, American support for the al-Maliki administration is dependent on passage of the Oil Law which essentially gives control of Iraq’s oil wealth to foreign … Read More
US Carmakers Ask for Help
US carmakers have said told a House of Representatives subcommittee that the industry alone could not act on climate change. The heads of the big three – General Motors, Chrysler and Ford – Â said that measures to improve fuel efficiency were not enough and may cost thousands of jobs.
Chevron Invests $1Bln in Gazprom
U.S. oil major Chevron is investing around $1 billion in Gazprom Neft, the oil unit of Russian gas giant Gazprom, something that has been welcomed by the US authorities. “Chevron’s billion-dollar scale investment in Gazprom Neft over the last few months is a positive development,” U.S. Deputy Energy Secretary Clay Sell has been quoted as … Read More