Posts in oil and gas production
- "Canada's fossil fuel subsidies are like taxing consumers when they buy cigarettes while giving massive tax breaks to tobacco companies that encourage them to produce more cigarettes. It doesn’t make sense.”
- Now that BP’s jury-rigged contraption to contain its massive Gulf of Mexico oil spew has failed, the company’s only resort is to continue pumping massive amounts of dispersant into the water near the wellhead, in an attempt to – what exactly? The dispersant goes by the trade name “Corexit.” It’s supposed to be a pun...
Continue reading 'You Can Hide, But You Can’t Run'.
- Venice, LA – I’m down at the oil spill on the Gulf of Mexico or what for now is the Gulf of Mexico. Rick Steiner, a marine conservationist and oil spill expert flew over the gulf Wednesday morning and said, “It’s not the Gulf of Mexico any more. It’s the gulf of oil.” Rick’s been...
Continue reading 'The Gulf of Oil'.
- Maybe those people who gave the green light to invade Iraq really did have a crystal ball. Maybe five years ago they could have foreseen record energy prices and a frenzy about oil supply and demand. Because amidst all the panic about dwindling supply, one country has actually increased production. Iraq has raised oil exports...
Continue reading 'Iraq Exports Reach Post-War High'.
- President Susilo Bambang Yudhoyono of Indonesia has said that his country was considering quitting OPEC because it was no longer a net oil exporter. “Our wells are drying,” he said in a nationally televised speech, adding that the country needed to concentrate on increasing domestic production, which has dropped to less than a million barrels a...
Continue reading '“Our wells are drying”'.
- ExxonMobil may have record a whopping $11 billion profit yesterday, but its share still fell nearly 4 per cent as analysts warned that the company might fail to grow at all in the next five years. The bottom line is the world’s biggest energy group’s oil production fell almost 10 per cent in the first...
Continue reading 'Exxon Struggles for Growth'.
- A group of US senators is pressing President Bush to halt billions of dollars in sophisticated arms sales to Saudi Arabia and several other Gulf oil producers unless they agree to pump more oil. The senators said if Saudi Arabia does not increase production, they would seek a resolution that would block the arms deals....
Continue reading 'Guns for Oil?'.
- Oil prices are going up, food prices too. And so are the number of oil wells being drilled in the US. According to the American Petroleum Institute, more than 17,000 new oil wells were tapped in 2007, the most active pace since 1990. Reuters has reported one such case that signifies changing times. What is...
Continue reading 'The Back-Yard Oil Boom'.
- The fighting in Basra could soon affect Iraq’s oil supplies. Oil production and exports from Iraq’s southern oilfields could be disrupted in three days if workers cannot reach their offices due to fighting in Basra. “If the military operations continue for three more days, the oil workers will not be able to continue their work...
Continue reading 'Basra Fighting Could Disrupt Oil Supplies'.
- His boss may have tried it and failed but now its Dick Cheney, the US vice-president’s turn. He is expected to urge Saudi Arabia to increase oil production during his tour of the Middle East that begins today. Mr Bush spent two evenings with King Abdullah of Saudi Arabia during his January trip. But his...
Continue reading 'Give Us More Oil Pleads Cheney'.
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