Global coalition calls for an end to ‘oil aid’ October 19, 2007, Washington, DC. – More than 200 organisations from 56 countries are calling on the World Bank and other international financial institutions to end subsidies to the oil industry. In a statement released today, the groups refer to ‘oil aid’ as one of the … Read More
Day: October 19, 2007
“The issue is no longer whether we reach $100 a barrel, but when…”
Slowly but surely, it creeps ever upwards as crude oil passed the $90 a barrel milestone. The magic $100 a barrel is now only $10 dollars away as crude oil prices show no sign of slowing down. Persistent worries about tight supplies ahead of the winter peak season and fresh geopolitical tensions have helped push … Read More
Climate Change Will Disrupt US Oil Production
A new US government report has concluded that climate change may produce stronger hurricanes that could disrupt U.S. oil production in the Gulf of Mexico and damage ports and pipelines along the coast that move fuel supplies. The report from a team of climate change experts and scientists at seven Energy Department laboratories is the … Read More
Ecuador Does Deal With Communities
Ecuador has reached a deal with protesters in the oil-rich Amazon region to end a three-day protest that cost the country $2 million in revenue. Earlier this week dozens of villagers in the Shushufindi region in the Sucumbios province blocked roads leading to key oil fields operated by Petroecuador. The company said the blockage prevented … Read More