Exxon Posts Record 1-Qtr Profits, Bye-Bye Climate

April 28, 2006By Andy RowellBlog Post

Exxon Mobil posted record first quarter-profits of over $8 billion but that wasn’t enough to meet Wall Street’s eager expectations.  Exxon’s net income of $8.4 billion, or $1.37 a share, was up 7% from $7.9 billion, or $1.22 a share, in the year-earlier period.

Hypocrisy Starts at The Top

April 28, 2006By Andy RowellBlog Post

Great sketch in yesterday’s Washington Post by Dana Milbank about the hypocrisy of America’s politicians when it comes to driving. Suddenly as the price of fuel reaches $3 a gallon, everyone is up in arms. They preach that America has a problem with rising fuel costs and energy security. Although they moan about it, not … Read More

BP: Fear and Speculators Driving Up Oil Price

April 26, 2006By Andy RowellBlog Post 1 Comment

BP’s CEO, John Browne, has warned that fear was driving the price of crude to artificially high levels, with “untold consequences” for the global economy. He argued that turbulence in Iran, Iraq and Nigeria was leading to continual speculation about oil shortages and there were “all sorts of things that suggest it is getting worse”.

World Bank to Promote Clean Energy

April 25, 2006By Andy RowellBlog Post

The World Bank has unveiled a new project to promote the use of clean energy in developing countries, where it argues that up to 40 billion dollars a year is needed to cover the costs of adapting to projected climate change.