A new report from Climate Trade Watch, which is affiliated to the Transnational Institute, accuses carbon offset companies of using the same sort of âfuture value accountingâ that caused the collapse of energy giant Enron.
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New Oil Finds in Sunni Iraq
Although huge petroleum deposits have long been known in Iraq’s Kurdish north and Shiite south, Iraq has substantially increased its estimates of the amount of oil and natural gas in deposits on Sunni lands, especially in Anbar province. Iraq has quietly been paying foreign oil companies tens of millions of dollars over the past two … Read More
Industry Sees its Future in Harmful Heavy Oil
All the worldâs extra oil supply is likely to come from expensive and environmentally damaging unconventional sources within 15 years, according to a detailed study by oil consultants, Wood Mackenzie. They have calculated that the world holds 3,600bn barrels of unconventional oil and gas reserves in Canadian oil sands and Venezuelaâs Orinoco tar belt that … Read More
Melting of Ice-Caps âInevitableâ
A critical meltdown of ice sheets and severe sea level rise could be inevitable because of climate change, scientists are preparing to warn their governments. New studies of Greenland and Antarctica have forced a the IPCC to conclude there is a 50% chance that widespread ice sheet loss “may no longer be avoided”.
The $30 Billion Alaskan Gas Pipeline
The concept of huge gas pipeline that snakes all the way from Alaskaâs North Slope across Canada to the lower American states draws closer to being a reality. Alaskaâs new Governor Sarah Palin, has announced that she will submit her natural gas pipeline legislation within two weeks. Anyone interested in building the line will have … Read More
Leaders Reach Climate Deal
Leading world politicians and industrialists have reached a new, non-binding agreement at a meeting in the United States on tackling climate change. The two-day meeting brought together legislators from countries including the Group of Eight rich nations plus Brazil, China, India, Mexico and South Africa. Delegates agreed that developing countries will have to face targets … Read More
Antarctic Ice Melting Rings Alarm Bells
The long-term stability of the massive ice sheets of Antarctica, which have the potential to raise sea levels by hundreds of metres, has been called into question with the discovery of fast-moving rivers of water sliding beneath their base. Scientists analysing satellite data were astonished to discover the size of the vast lakes and river … Read More
Justice Officialâs Home With Oil Lobbyist
Interesting piece from yesterdayâs Washington Post that revealed that a âsenior Justice Department official who recently resigned her post bought a nearly $1 million vacation home with a lobbyist for ConocoPhillips months before approving consent decrees that would give the oil company more time to pay millions of dollars in fines and meet pollution-cleanup rules … Read More
Al Qaeda Group Urges Attacks Against US Oil Interests
A Saudi Arabian terrorist group affiliated with Al Qaeda has urged Muslim militants to attack oil facilities worldwide, including in Canada, Mexico and Venezuela, to stop the flow of oil to the United States. Al Qaeda in the Arabian Peninsula said in its monthly magazine posted on an Islamic website that “cutting oil supplies to … Read More
Turkmenistan Begins âNew Eraâ
The oil industry is getting excited by the fact that power has changed hands for the first time in two decades in the authoritarian energy-rich state of Turkmenistan. Former dentist, Gurbanguly Berdymukhamedov, has taken the presidential oath in the capital. The strategic importance of the event was underscored by the presence of Russian Prime Minister … Read More