Whats the US Congress’ response to record profits and high gas prices? Why its royalty relief for the oil & gas industry, of course! According to this morning’s New York Times, “the government will give up more than $7 billion in payments between now and 2011. The companies are expected to get the largess, known … Read More
Under their new leader David Cameron, the Conservatives could be about to radically alter thier energy policy, as their try and improve their “green” credentials. Launching a review of their energy policy today, the shadow Trade and Industry spokesperson, Alan Duncan, has indicated that the party are looking for a greater proportion of energy to … Read More
To their admirers, they are the latest must-haves in status, style and chic. To their critics, they are dangerous, polluting and gas guzzling brutes. Known as Chelsea tractors they are urban 4X4s or SUVs. But the news that Londoners are the most likely people in the whole of the UK to buy 4X4s will come … Read More
The British Environment Agency has calculated that over two million homes are at risk of being flooded, a situation that will get worse because of climate change. “The risk of flooding is ever present, and increasing”, says the Environment Agency (EA). Despite everyone knowing that climate change will make matters worse, developers are still trying … Read More
The fight against climate change received an unexpected boost yesterday when 86 evangelical Christian leaders in American backed a major initiative to fight climate change. A statement they released said: “millions of people could die in this century because of climate change, most of them our poorest global neighbors.” The statement continued: “For most of … Read More
Tony Blair yesterday warned world leaders they had less than seven years to save the climate, but then ruled out a special tax on the most polluting travel of all – flying. “It is unrealistic to think that you will get some restriction on air travel at an international level”, said Blair. So we can … Read More
Yesterday saw BP join Shell and Exxon in reporting record profits of $19.3bn (£11bn). What the three company results highlight is the fundamental flaw of how they are valued by city investors. As both Shell and BP posted record profits their share price actually went down as the profits were not as large as some … Read More
A sustainable society must depend upon renewable resources, which oil cannot be. It must recycle nonrenewable resources, and burned oil cannot be recycled. It needs to restore the base of renewable resources — our forests, soils, cities and human minds.
The news that ExxonMobil has just posted the highest profits in history should bring down to earth those congenital optimists who, for the last 20 years or so, have been claiming that the best way to do well is to do good. ExxonMobil got their record-breaking billions the old fashioned way: through high oil prices.
Oil giant Exxon Mobil yesterday reported the biggest profit in corporate history- some $36.1bn (£20bn) after tax for 2005. The profit was on the back of soaring oil prices. The company’s turnover – some $371bn – would make it the 17th biggest economy, just behind Russia but ahead of Taiwan or Sweden. The obscene profit … Read More