February | 2008 | The Price of Oil

Posts in February 2008

Huge Herd of Climate Sceptics Descends on NY
Andy Rowell
Feb29
Despite the fact we are in deep “doo-doo” over climate (see blog below), the climate sceptic dinosaurs are still grazing in huge numbers, saying that climate change is not happening or not man-made. In fact next week a huge herd of the beasties will descend on New York for an “International Conference on Climate Change”…
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“We’re in deep doo-doo”
Andy Rowell
Feb29
One of the authors of Canada’s first national assessment of climate change, Quentin Chiotti, from Pollution Probe’s believes fighting climate change “calls for an effort equal to dealing with global world war” but says that current efforts fall far short. Chiotti, one of the authors of a report due to be released by the Canadian…
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China Signs Oil Deal with Iranian Company
Andy Rowell
Feb29
Even as the United Nations maneuvers toward a vote on expanded sanctions against Iran – which Beijing has reportedly approved – China’s main offshore oil and gas company is reported to have signed a $16 billion deal to develop an Iranian gas field. In doing so, China is maintaining its position that it does not…
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New US Climate Offer “Too Little, Too Late”
Andy Rowell
Feb28
A senior European official has described America’s latest offer on climate change as far too little, far too late. The US climate chief James Connaughton has said that President Bush is ready to sign up to an international long-term goal of huge emissions cuts by 2050. “America’s helping lead the way among the major economies…
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IMF: Nigeria ‘Wasted’ 30 Years of Oil Income
Andy Rowell
Feb28
Nigeria “wasted” 30 years of oil income, the head of the International Monetary Fund (IMF) Dominique Strauss-Kahn said yesterday as he warned the country against the dangers of neglecting the non-oil sectors of its economy. “Nigeria has had 40 years of oil but for the first 30 years it wasted the proceeds from that oil,”…
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BP Keeps Renewables Business as “Calling Card”
Andy Rowell
Feb28
Tony Hayward, BP’s chief executive, yesterday gave the market a strong signal that he wants to realise value from the company’s loss-making investments in renewables. BP has invested billions of dollars in solar energy over the past decade but the business still does not deliver a profit. The Alternative Energy unit, which comprises BP’s solar…
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Alaskan Town Sues Big Oil Over Climate
Andy Rowell
Feb27
The day before the Exxon Valdez case makes it to the Supreme Court, Exxon is in court again, this time in a federal court in San Francisco. Exxon, BP and seven oil companies are all being sued by a tiny native Alaska village that is eroding into the Arctic Ocean. The Alaska native village Kivalina,…
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Nigeria: Oil Transparency Remains “Elusive”
Andy Rowell
Feb27
Although Nigeria passed legislation last year establishing an independent body the to make sure that oil majors pay the necessary royalties and taxes, anti-corruption activists are saying the law is not strong enough to fully clean the industry. Under the law – the Nigeria Extractive Industries Transparency Initiative (NEITI) – oil companies are required to…
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GOP Should Stop “Coddling Big Oil”
Andy Rowell
Feb27
Interesting op-ed from a Silicon Valley newspaper by the CEO of Akeena Solar, which calls itself America’s leading solar installer. The CEO, Barry Cinnamon, argues “This week the House of Representatives will vote on the Renewable Energy and Energy Conservation Tax Act of 2008. This act would eliminate $18 billion in tax breaks for oil…
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Exxon Valdez: “Its time for closure”
Andy Rowell
Feb26
When the Exxon Valdez ploughed into Bligh Reef in 1989 causing one of the greatest environmental crimes of the last century, I remember someone saying “lawyers not yet born will work on this one”. And so that prediction has nearly come to pass. Five years after the spill a federal jury in Alaska ordered Exxon…
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