There is something absurdly silly about threatening a country with sanctions if it has something that you are completely dependent on. But that has now happened with Russia and the West over the crisis in Georgia.
With the EU threatening Russia with sanctions, the Daily Telegraph reports that “fears are mounting that Russia may restrict oil [...]

As the Western oil majors squabble with Iraq over technical contracts, they have been out-maneuvered by the Chinese in the greater race to sign the first significant contract with the war-torn country.
The first major oil deal Iraq has signed since 2003 is not with BP or Shell but with China’s biggest oil company, state-run CNPC [...]

Every now and then you get a small, but significant shift in the battle against climate change and this could be one of those moments.
One of the America’s largest builders of coal-fired power plants has been forced to now give investors detailed warnings about the risks that climate change poses to its business.

Although the oil price has now dipped significantly from its highs of the summer, its relatively high price is having an effect on both oil consumption and production.
Take the UK: The rising cost of running a car has caused traffic on Britain’s major roads to drop for the first time since congestion was measured, a [...]

There might be a “mine it flat” mentality in Alberta concerning tar sands, but one provincial government has just adopted a different approach to unconventional oil resources.
The only problem is that it is thousands of miles away in Australia.
Australia’s Queensland state has banned shale-oil mining for 20 years, blocking a plan for a strip-mine that [...]