Although the United States and EU have imposed economic sanctions on Burma (Myanmar) in recent years as a result its appalling human rights record, this has not stopped oil companies investing in the country. Two little-known foreign companies have signed a deal for offshore oil and gas exploration with the state-owned Myanmar Oil and Gas … Read More
Blog Post
The New Seven Sisters
Talking about the changing face of the oil industry, this is a really interesting article by Carola Hoyos in today’s Financial Times about the new “Seven Sisters”, the most powerful global oil companies. Writes Hoyos: “As oil prices have trebled over the past four years, a new group of oil and gas companies has risen … Read More
UK Politicians Fight Over Climate Credentials
Suddenly every British political leader wants to be green. David Cameron, yesterday announced a new set of “environmental taxes” intended to curb air travel. In retaliation, Gordon Brown, the Chancellor will call today for a “new world order” to address climate change and tomorrow he joins Tony Blair in publishing the Government’s strategy for reducing … Read More
“I was Conned By C4”, Says Scientist
The “Great Global Warming Swindle” that showed on Channel Four in the UK last week and tried to argue that carbon dioxide emissions are not to blame for global warming, is it turns out, just a swindle. One of the scientists interviewed, Professor Carl Wunsch, professor of physical oceanography at the Massachusetts Institute of Technology … Read More
Halliburton Moves HQ to Dubai
Halliburton, the global oil services group once headed by Dick Cheney, America’s Vice-President, is to shift its headquarters from Texas to Dubai in a move that reflects the changing balance of power in the world’s oil industry. Dave Lesar, chief executive, said that Halliburton would retain an office in Houston but open a new corporate … Read More
Police in Java say oil drilling is the cause of fatal mudflow
Since May 2006, a massive mudflow in Sidoarjo, East Java, Indonesia has left at least seven people dead, swallowed several villages, displaced 15,000 residents and destroyed 20 factories, all resulting in economic stagnation in the region. On Thursday, Indonesian police investigating the mudflow have pointed to poor management of oil drilling operations as the cause … Read More
UK Denies “Meddling” in Iraq Oil Law
The British Government has denied claims it intervened to influence the shaping of Iraq’s controversial oil law, which pretty much everyone but the American and British government believes will hand over control of the country’s oil supply to foreign multinationals.
Chomsky: US Foreign Policy Driven by Oil
A great article by Noam Chomsky in today’s Guardian arguing that “Washington’s escalation of threats against Iran is driven by a determination to secure control of the region’s energy resources.” For the US, writes Chomsky, “the primary issue in the Middle East has been, and remains, effective control of its unparalleled energy resources. Access is a … Read More
Oil-Rich Mexico Output Declines
The State oil company of Mexico, Pemex is in trouble, reports the New York Times. Its production and proven reserves are falling, and it has no money to reverse the slide. This is important for the US because Mexico is the second-largest supplier of imported oil to the United States, after Canada. If the company … Read More
Climate Coalition Calls on G8 to End Oil Aid
The Climate Action Network (CAN), a worldwide network of over 365 Non-Governmental Organizations working together to fight climate change, called on the G8 today to “start a complete phase out of public financing for fossil fuel operations and oil aid and ensure that International Financial Institutions, such as the World Bank, become leaders in investing … Read More