June | 2008 | The Price of Oil

Posts in June 2008

Climate Change Fuelling Refugee Crisis
Andy Rowell
Jun17
Friday, if you did not know it, is World Refugee Day. And the depressing news is that the number of refugees is at a record high, fuelled in part by climate change which is causing conflicts around the world. Some 40 million people worldwide are already uprooted by violence and persecution, and the figure is…
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Pumping more oil is the wrong solution…
Andy Rowell
Jun16
Under huge political pressure, Saudi Arabia will raise oil production to record levels by pumping an extra half-a-million barrels of oil a day, bringing their production to 9.7 million barrels a day. That would be a rise of 550,000 bpd or over 6 percent since May and would take Saudi crude output to its highest…
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1,000 Nuclear Plants Needed to Break Oil Addiction
Andy Rowell
Jun13
Out of the frying pan into the fire. In a bid to end the global “addiction to oil”, British Prime Minister Gordon Brown has signalled he wants the UK to play a major role in the race to build an extra 1,000 nuclear power stations across the world. Brown, who is flying to Saudia Arabia…
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BP Blames the “Madness of Men” for Oil Rise
Andy Rowell
Jun12
“We’re not running out of hydrocarbons,” insists Tony Hayward, the baby-faced boss of global oil giant BP. To back up this view, he cites various comforting figures from the latest edition of the firm’s “Statistical Review of World Energy”, released this week.
Slick Senate Votes
Steve Kretzmann
Jun11
Its not only the recent climate vote that suggests the influence of Big Oil in the Senate. Yesterday the Senate took two more votes where the influence of Big Oil was arguably a Big Factor. Yesterday the Senate voted down a bill, S3044 that would have given some consumers relief from high gas prices, established…
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How about $250 a Barrel?
Andy Rowell
Jun11
Worried about global oil prices…. You ain’t seen nothing yet. The CEO of Gazprom, Alexey Miller, has issued the most dire warning yet about the soaring the price of oil, predicting that it will hit $250 per barrel “in the foreseeable future”. His comments were the most stark to be expressed by an industry executive…
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Less than Half Americans Have Heard of Oil Sands…
Andy Rowell
Jun11
A survey by a major PR company, Fleishman-Hillard into how Americans and Canadians reconciled the need for new oil supplies against environmental concerns, has come up with some interesting facts: Despite the furore over oil sands, it found that less than half of American respondents were aware of the existence of oil sands, which make…
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Climate Change Turning Sea into “Acid Bath”
Andy Rowell
Jun11
Increasing carbon dioxide emissions could leave species such as coral and sea urchins struggling to survive by the end of the century because they are making the oceans more acidic. Research by British scientists has found that rising carbon emissions will alter the biodiversity of the seas profoundly. Greater concentrations of carbon dioxide in the…
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An Oily Climate in the Senate
Steve Kretzmann
Jun10
As you know if you’ve looked over the key findings of our Follow the Oil Money database, Senators who vote against clean energy take on average 3 times more oil money than those who vote for clean energy. Last week’s vote on the Lieberman – Warner bill was true to form. We ran the vote…
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IEA Urges $45 Trillion “Energy Revolution”
Andy Rowell
Jun10
World governments must start a $45 trillion dollar “energy technology revolution” between now and 2050 or risk a 130 percent surge in carbon emissions, according to the IEA. While that may sound like a frighteningly large figure to some, the investment required is “an average of some 1.1% of global GDP each year from now…
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