Two years ago the oil price hit the floor at $33 a barrel. Today, on the back of the Libyan conflict, the price for Brent Crude is $116 a barrel. Two years ago, development of the Canadian tar sands was stalling with many projects being put on hold. According to the International Energy Agency, the … Read More
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Over 20% of Nuke Reactors on Fault Lines
For the last two decades the nuclear industry has undertaken one of the most sophisticated public relations exercises in order to try and show the world that the technology is safe, secure, clean and green. They have very nearly succeeded. We are on the cusp of a nuclear revival, driven largely because of climate change. … Read More
“The chain is as strong as the weakest link”
The unfolding nuclear emergency in Japan once again highlights the vulnerability of our centralised energy infrastructure to major disasters or even a potential terrorist attack. At the moment all efforts must go to containing and controlling the nuclear disaster at Japan’s Fukushima plant. When this is done, at some time serious questions need to be … Read More
Libyan Rebels Threaten to Deny Oil to Dithering Nations
As the West dithers and dallies over whether to support the Libyan rebels, Gaddafi’s forces are rapidly gaining momentum across the country. This morning the dictator’s troops seemed to have taken the town of Brega after seizing control of the strategic oil town of Ras Lanuf on Saturday. They now look like they will regroup … Read More
OPEC’s “Fictional” Comfort Blanket
Many people are now getting jittery about Saudi Arabia. Protesters in the Kingdom have called for a “day of rage” his Friday to show their dissatisfaction with King Abdullah’s regime. Meanwhile the King has tried to head off serious unrest in the country by pledging to boost spending on housing, social welfare and education. And … Read More
“An oilquake that shakes our world to its core”
The press reports this morning that members of Opec have joined Saudi Arabia in boosting oil output to make up the fall in output from Libya. The countries concerned – Kuwait, UAE and Nigeria – have all promised to boost production. In many ways you could argue that OPEC’s gamble is trying to delay the … Read More
BP Spill: 50% of Residents Suffered Adverse Health Effects
One of the most unreported legacies of the Exxon Valdez oil spill was the devastating long-term health impact of many of the clean-up workers and communities. Thousands of people suffered short-term and long-term effects from the spill. An unknown number have died. It was in part this lethal legacy that was a shadow of fear … Read More
UK Gov: its “crazy” not to prepare a low-carbon future
Three years ago during the last oil price hike when oil reached $150 a barrel, there were repeated calls for a concerted effort for the international community to finally wean itself off its chronic oil addiction. There were repeated calls that the combined financial crisis and energy crunch was a prefect reason to kick-start the … Read More
Drilling Resumes, but Doubts Remain
Yesterday the US Interior Department approved the first new deepwater drilling permit since BP’s Deepwater disaster last April. The permit for Noble Energy to drill about 70 miles southeast of Venice, Florida, comes more than four months after the Interior Department lifted its deep-water drilling moratorium, and nearly a year after the disaster. “This permit … Read More
Mad Dogs and Englishmen
As Colonel Gaddafi’s power slowly ebbs away in Libya, many people will be worried that he is planning a brutal, bloody, finale. Predicting the unpredictable dictator is a dangerous game. But in mapping how the end game is going to play out, you could also play the blame game in how we got here. And … Read More