BP’s slide from grace continues. Profits, production and prices all fell in BP’s first quarter, as the UK-based energy group said that profit before interest and tax dropped 17 per cent to some $7bn, with net replacement cost profits also down 17 per cent at $4.36bn.
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New report shows global warming pollution up in 48 U.S. states
Global warming pollution increased in all but two states nationwide between 1990 and 2004, according to “The Carbon Boom,” a new analysis of state fossil fuel consumption data released earlier this month by the U.S. Public Interest Research Group (U.S. PIRG). The past nine years have been among the 25 warmest for the contiguous United … Read More
Nigerian Election Condemned As a Farce
Nigeria’s presidential elections – that will impact the country’s oil industry – have been dismissed as so chaotic and flawed that they should be re-run. Election observers said most polling stations only had half the ballot papers they needed. Half the country had no ballot papers at all. “You cannot use the result from half … Read More
New York to Issue Congestion Charge
So New York plans to follow Oslo, Singapore and London in introducing a “Congestion Charge” for driving into the city. Michael Bloomberg, the city’s mayor, has unveiled plans for a congestion charge on cars entering the busiest parts of Manhattan. Compared with London’s $16, New York’s proposed charge will be a snip at $8.
Now Somali Government Proposes PSAs
When American forces helped the fledging Somali government overthrow the Union of Islamic Courts earlier this year, some people argued that it was because of Al-Qaeda, others because of oil. For years, petroleum geologists have hoped that the oil-rich geology of Saudi Arabia and the Yemen that curves graciously under the sea of Aden and … Read More
Raise your hand if you think Wolfowitz must go
The Wolfowitz must go campaign, which we at Oil Change support for a wide variety of reasons – including the fact that Bank lending for oil increased by more than 75% last year – is now in high gear. ParkRidge47, who created the now famous Obama / Think Different ad, has done a brilliant satire … Read More
“End Oil Aid” Bill introduced
Environmental organizations today applauded Rep. Maurice Hinchey (D-NY) for introducing legislation that seeks to end subsidies for the international operations of oil companies. The “End Oil Aid” bill, introduced yesterday, calls on international financial institutions including the World Bank, Export Import Bank and Overseas Private Investment Corporation to stop financing oil and gas projects. “Oil … Read More
G8 debates real climate action as Bank support for fossils rising
Oil Change Press Release, 4/13/07 – A leaked draft G8 Summit Declaration reveals that G8 leaders are considering an historic breakthrough in the fight against climate change at the upcoming G8 Summit in Heiligendamm, Germany. Despite the concern over climate, the draft ignores hundreds of billions of dollars in fossil fuel subsidies including increasing levels … Read More
O’Leary Plans $12 Tickets to Cross Atlantic
There may be unprecedented news about how flying affects climate change, but try telling that to Michael O’Leary, the controversial boss of Ryanair. O’Leary said he was planning to bring his no-frills approach to transatlantic flights, offering one-way tickets from $12. The market is poised for significant changes in the wake of the recent “open … Read More
Violence Escalates in Niger Delta
Seven people have been killed during security patrols in the Niger Delta, prompting fears of an escalation in the violence in the region. Five people, including two policemen, were killed in a shootout with criminal gangs on Wednesday in the Emohua district of the oil city of Port Harcourt, police said.