So its free-fall on the stock-markets again. This morning the London market plunged by over 5 per cent as the chaos in the world’s financial markets continued.

All the expectations are that Wall Street will dive this afternoon. What is spooking the markets is the thought of a painful and long-lasting depression. But in the middle of this turmoil the oil giants BP and Shell are set to announce record profits. Continue reading ‘Meanwhile Big Oil Makes $10 Million an Hour…’

Just as European leaders are faltering in their efforts to tackle climate change, a new survey of the science by WWF has found that the climate is changing much faster, stronger and sooner than even the IPCC (Intergovernmental Panel on Climate Change) forecast.

According to WWF, research on climate change and its impacts published since the latest assessment report from the IPCC is revealing that global warming is accelerating at times far beyond IPCC 2007 forecasts. Continue reading ‘Climate Change Happening Faster, Stronger, Sooner’

Far from the financial crisis acting as a spring board for a green revolution, several EU leaders produced a predictable political response yesterday by trying to undermine ambitious CO2 targets.

President Sarkozy of France, who holds the EU presidency, led the way in appealing to all 27 countries to stick to their target to cut Europe’s CO2 emissions by 20 per cent by 2020.  Continue reading ‘EU CO2 Targets in “Disarray”’

In what is a truly symbolic victory for the people of the Niger Delta, the oil giant Shell has been ordered to hand over the huge Bonny oil terminal to the local population.

Although details are only now becoming public, a high court in Rivers State ruled in July that the site of the Bonny lifting terminal belonged to the local community, not the oil giant. Continue reading ‘Nigeria: Court Orders Shell to Hand Oil Terminal Back to Locals’

The breaking news from Canada is that the Conservative Prime Minister, Stephen Harper has been re-elected with an increased majority, although he has fallen some 10 to 12 votes short of an overall majority, something he desperately craved.

Despite this, Harper’s political gamble to call a snap election has paid off, although he will still have to reply on the support of at least one of the three opposition parties to govern. Continue reading ‘Harper’s Victory is Bad News for the Environment’