BP’s long-term strategic direction and its credibility with City analysts is in tatters this morning after its bid for a strategic alliance with Rosneft, the Russian state oil champion, collapsed late last night. A year on from the Deepwater disaster, this was the deal that was meant to revitalise BP’s reputation. This was the deal … Read More
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The High Cost of Keeping Gas Prices Low
The subsidy battle raging in Washington at the moment is all about what are known as “production” subsidies. These are subsidies that are paid to the oil majors to keep the oil and gas flowing. But there is also another type of subsidy: this is where governments, often in countries producing oil or developing countries, … Read More
Top 5 myths about subsidies to oil companies
This is a cross-post from Transition Voice. Written by Erik Curren Can the president who killed Osama bin Laden now stand up to Big Oil? Encouraged by comments made by House Speaker John Boehner that subsidies for oil and gas companies should be on the table, Democrats led by Montana Sen. Max Baucus last week … Read More
ConocoPhillips calls Democrats “Un-American”
Get ready for some fireworks this morning in the Senate. The latest spin coming from the oil industry is that Democrats and the more than 75% of Americans that support ending subsidies to Big Oil are somehow “un-American”. After yesterday’s Annual Meeting of Conoco Phillips the company put out a press release highlighting “concerns over … Read More
France to Say “Non” to Fracking
Just last week, a study by the European Centre for Energy and Resource Security concluded that unconventional gas resources in Europe – such as shale gas – could radically reshape the continent’s oil and gas outlook, and reduce its dependency on Russia and the Middle East. The report said that, in theory “Europe’s unconventional gas … Read More
Who Needs Oil or Nukes Anyway?
In the aftermath of the Fukushima nuclear disaster in Japan many commentators, including some leading environmentalists argued that despite the inherent risks of nuclear power, it was still a necessary evil in the battle about climate change. They joined other pro-nuclear voices that have been growing steadily over the last few years in arguing that … Read More
Subsidy Battle Hots Up
The showdown on gas prices and subsidy removal will intensify this week in Washington, when senior oil and gas executives are hauled before Congress to explain record profits at a time when consumers are hurting at the pumps. Legislation is being worked on by Max Baucus, the Montana Democrat and chairman of the Senate finance … Read More
The “Spill Amnesia Bill”
A week, they say, can be a long time in politics. A year, therefore can be a lifetime. And long enough to forget. A year on from the Deepwater disaster, Republicans are acting as if the America’s largest ever oil spill did not in fact happen. It was just a distant bad dream. Yesterday, as … Read More
As Gas Prices Remain High, US Becomes Net Exporter of Fuel
Until Sunday night one of the main talks of the town in Washington was gas prices. Now the talk of the town is Bin Laden’s death. Oh and gas prices. Because the issue of high gas prices is not going away any time soon. A 36 per cent rise in the last year put pays … Read More
Independent oil & gas producers don’t need subsidies any more than big oil does
The Independent Petroleum Producers Association is currently in overdrive parading a commissioned study that makes a number of claims about its member’s value to the economy. According to the study, independent oil and gas producers drill most of the wells in the country, create millions of jobs and pay billions in taxes and royalties. Furthermore, … Read More