Posts in October 2007

  • Oil Price Bigger Threat Than Climate Change in Next 10 Years

    Given the news from the UN this morning (see next blog, Humanity’s Survival at Risk), its interesting that Reuters are reporting the results of its Smaller Companies Forum that concluded that rising oil prices are a bigger threat to the world economy than climate change in the next 10 years. This said, the corporate execs…
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  • BP Pays $373m in Fines And Accepts Blame

    BP yesterday accepted blame for failures to protect employees, the environment and consumers as it agreed to hand over a total of $373m to settle a string of criminal investigations into its conduct across America. In an effort to put lapses under the leadership of Lord Browne behind it, BP struck a broad deal with…
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  • Kyoto Protocol is “Outdated Failure”

    The international effort to curb greenhouse gas emissions – as currently enshrined in the Kyoto Protocol – is a miserable “failure” that needs to be replaced, according to a study in the journal Nature. “The Kyoto protocol… as an instrument for achieving emissions reductions, has failed,” it says. “It has produced no demonstrable reductions in…
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  • Mexico Rig Accident Kills 18

    At least 18 Mexican oil workers have been killed after a drilling rig hit an oil platform in stormy weather, spilling gas and oil into the Gulf of Mexico. Seven workers are still missing. Rescuers have pulled 61 oil workers to safety from storm-tossed waters but have yet to control the oil leak, according to…
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  • Sudan Rebels Take Oil Hostages

    A Darfur rebel group has claimed it has attacked a Sudanese oilfield in the Kordofan region, taking a Canadian and an Iraqi oil worker hostage, according to the BBC. The group, the Justice and Equality Movement (Jem), said it attacked the facility which is run by a Chinese-led consortium in the Defra oilfield.

  • Lake Teshekpuk at Risk From Bush’s Drilling Plan

    The Wilderness Society is urging people to oppose the Bush Administration’s plans to sacrifice one of the world’s most important ecosystems in Alaska. Although nearly ninety percent of this region is already open to oil and gas drilling, the ecologically fragile area around Teshekpuk Lake is so important to Native communities and wildlife that it…
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  • Nigeria Considers Contracts Review

    Nigeria has become the latest country to signal it wants to review its contracts with international oil companies as part of a major shake-up in the energy sector. It will inevitably lead to tougher financial conditions for the oil companies. Rilwanu Lukman, chairman of Nigeria’s oil and gas reform committee, said in his first public…
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  • BP Pay $300m for Fixing Market

    BP agreed last night to pay $303m to settle charges that it had manipulated the propane gas market in the United States. BP was charged last year with price-rigging by cornering the propane market during illegal energy trading in 2004. A Department of Justice lawsuit alleged that one trader told another: “Dude, you’re the entire…
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  • No War No Warming!

    As part of the “No War No Warming” demonstration 68 protesters were arrested yesterday in Washington, after they blocked Capitol Hill employees from arriving to work. “The link between war and warming is oil” said Steve Kretzmann of Oil Change International. “The oil industry gave $10 million in campaign contributions to this Congress. Perhaps this…
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  • CO2 Rising Much Faster Than Forecast

    New scientific research warns that climate change will be “stronger than expected and sooner than expected”, after a new analysis showed carbon dioxide is accumulating in the atmosphere much faster than predicted. The new study, published in the US journal Proceedings of the National Academy of Sciences (PNAS), says three processes have contributed to this…
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