Independent investment analysts “Investment U” are promoting Alberta’s oil sands as a “win-win” investment opportunity. They say: “the oil sands will soon be the single-largest source of foreign oil for the U.S. – even bigger than Saudi Arabia”. Oil producers can explore Alberta’s oil sands virtually “risk-free… and for a tremendous profit”.
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UK Faces ÂŁ100 billion Energy Gap
A new report warns Britain’s looming energy gap could cost the country more than ÂŁ100bn a year in less than a decade from now. The analysis by the business services group LogicaCMG believes that the energy gap could arrive much earlier than previously thought. It says that by 2010 the shortfall could be 5 per … Read More
WWF: British Government Should Stop Financing Big Oil
WWF is calling on the UK Government to stop using its Export Credit Agency (ECA) to subsidize Big Oil and other carbon intensive sectors. ECAs are public agencies that provide government-backed loans, guarantees, credits and insurance to private corporations from their home country to do business abroad.
BBC Spins Climate Talks Failure
There are always two ways to tell a story. Read the BBC this morning and you would believe that the Climate talks in Nairobi reached agreement. The headline on the BBC’s website is that “Nairobi climate talks end in deal”. According to the BBC, “the UN climate talks in Nairobi have ended with agreement reached … Read More
Boulder to Introduce First US Carbon Tax
Voters in Boulder, Colorado have approved what may the US’s first “carbon tax.” The tax, which will take to take effect in April next year, will be based on the number of kilowatt-hours used. The tax is to pay for the “climate action plan,” efforts to “increase energy efficiency in homes and buildings, switch to … Read More
Armed Police to Protect UK’s Strategic Energy Assets
In this day and age, energy security does not just mean securing enough oil and gas supplies it means protecting them too. In these days of heightened terror alerts the Sunday Times has reported how “a special armed police force is being proposed to protect Britain’s main oil, gas and electricity installations from terrorist attack … Read More
Climate Talks Stuck
There are signs that despite all the hype about the need for urgent global action, the UN climate talks in Nairobi are “stuck” on the most fundamental issue: a review of the Kyoto Protocol. At the moment there will be no deal on mandatory cuts in emissions and a firm timetable for negotiating cuts also … Read More
Peak Oil Analysis is Flawed Says CERA
Here’s something that will get the peak oil pundits up in arms. Oil industry analysts Cambridge Energy Research Associates (CERA) argue that the peak oil theory is based on “faulty analysis.” It could, if accepted they argue, “distort critical policy and investment decisions and cloud the debate over the energy future”. They are arguing that … Read More
Annan Attacks US and Australia Over Emissions
UN Secretary General Kofi Annan has unleashed a thinly veiled attack on President Bush, his Administration and the Australian government for showing a “frightening lack of leadership” that is hindering the fight against global warming. Speaking at the start of the main session of the UN climate change conference In Nairobi, Annan described the build-up … Read More
Conoco Phillips Increases Pipeline Monitoring in Alaska
Its not just BP who is worried about corrosion on Alaska’s North Slope. After seeing BP’s reputation ravaged this year, Conoco Phillips has stepped up its efforts to prevent corrosion-related leaks in its own Alaska pipelines.