The Sky’s Limit Africa assesses fossil fuel industry plans to sink USD $230 billion into the development of new extraction projects in Africa in the next decade — and USD $1.4 trillion by 2050. It finds these projects are not compatible with a safe climate future and that they are at risk of becoming stranded assets that leave behind unfunded clean-up, shortfalls of government revenue, and overnight job losses.
Libya
Report: USD 1.4 trillion fossil fuel buildout jeopardizes Africa’s economies, climate, and communities
New analysis details why a just energy transition in Africa requires an end to new oil, gas, and coal extraction projects
To the Victors go the Spoils
Was the western intervention in Libya primarily driven by oil? The answer depends on who you ask, but as usual, in the volatile mix of international politics, oil is never far from the surface. It certainly helps the case of those countries that are vying for a piece of the Libyan oil pie that they … Read More
Fuelling the Fire
All conflicts are about power and who will ultimately exert control over a people and resources. That is why there is a persistent niggle about western intervention in conflicts, and whether there is a humanitarian aim, or one simply about access to resources. The brutal truth is that regime change often comes with an agenda … Read More
Libyan Rebels Threaten to Deny Oil to Dithering Nations
As the West dithers and dallies over whether to support the Libyan rebels, Gaddafi’s forces are rapidly gaining momentum across the country. This morning the dictator’s troops seemed to have taken the town of Brega after seizing control of the strategic oil town of Ras Lanuf on Saturday. They now look like they will regroup … Read More
“An oilquake that shakes our world to its core”
The press reports this morning that members of Opec have joined Saudi Arabia in boosting oil output to make up the fall in output from Libya. The countries concerned – Kuwait, UAE and Nigeria – have all promised to boost production. In many ways you could argue that OPEC’s gamble is trying to delay the … Read More
Mad Dogs and Englishmen
As Colonel Gaddafi’s power slowly ebbs away in Libya, many people will be worried that he is planning a brutal, bloody, finale. Predicting the unpredictable dictator is a dangerous game. But in mapping how the end game is going to play out, you could also play the blame game in how we got here. And … Read More
“The last man will switch off the button”
At one point yesterday, Brent crude, the European benchmark grade of oil was topping $108 a barrel—its highest level in 2½ years. Such is the surge in oil prices caused by the Libyan crisis that it could derail the global economic recovery according to Fatih Birol, the International Energy Agency’s chief economist. Analysts argue that … Read More
Senators Accuse BP of “Blood Money” Handouts
For many in America, BP has been public enemy number one since the Deepwater disaster started on April 20th. It’s not only the disaster itself, but the way BP has handled itself before and since then that has added to the palatable anger. The failure by the company to stop the spill, the public gaffes … Read More