As if the plummeting oil price was not bad enough, there was more bad news for the oil industry yesterday after President Obama signed a Presidential memorandum to protect the vast Bristol Bay in Alaska from future oil and gas drilling.
News
Oil Industry in Crisis as $1Tn Investment at Risk
And so the free-fall continues. The price of Brent crude has fallen this morning below $60 a barrel for the first time since July 2009. The price of US crude is below $55.
Fracking: Now They Want You to Pay
Not content with polluting our air and water and causing immeasurable harm to both the environment and health, the fracking industry has now come up with a novel idea: the consumer should pay for the polluting process as well.
Bank of America: $50 A Barrel on Its Way
The US shale industry faces a Darwinian struggle over the next few months as only the fittest producers will survive as the price of crude plunges to $50 a barrel, the Bank of America has warned.
Banks “Circling” Tar Sands Debt
The message from the markets for the North American oil industry is summed up in four simple words by the Financial Times today: “No respite for oil.”
Dirty Energy Money Fuels Fight Against Climate
Many people concerned about climate change may be focussed on the ongoing UN climate negotiations in Lima, but back home in the US it is business as usual for the oil and gas industry: they are secretly lobbying to delay action on climate and undermine America’s environmental protection laws.
Fracking Affects Babies and Adult Fertility and Fecundity
A new peer-reviewed scientific paper, published today in Reviews on Environmental Health, adds to the growing evidence of harm from fracking, especially to women and young children. But men also should be worried too.
Banks Face “Dire Scenario” Over Fracking Finance
For years, the oil industry and its powerful friends in Congress talked of a shale gas utopia where fracking would lead to energy independence in for US.
Bankers Warn of “Unburnable” Carbon As UN Talks Open
The Lima UN climate talks which open today were always the diplomatic aperitif before the main three course carbon-fest in Paris next year. However they open with a renewed sense of optimism that after 20 years of delay and political deadlock – often driven by the fossil fuel industry – a deal may well be in sight for Paris.
Big Oil’s Front Groups Exposed
It has often been called the heart of public relations: but the third party technique is simple – it is putting your words in someone else’s mouth.