Alaska officials are investigating BP again due to a spate of fires on the North Slope, which come after two years of scrutiny over safety at BP’s U.S. operations. A flaring event earlier this week was the fourth BP fire in the past month, a troubling pattern that could result in some new rules, state … Read More
As crude oil prices rose over $78 a barrel, the Financial Times reports how OPEC is offering a small production increase in an effort to cool the rising prices and reassure industrialised countries. The upward trend towards $80 a barrel has increased the pressure on the cartel to act. Abdalla el-Badri, Opec secretary general, said … Read More
America’s high gas prices are being caused, in part, by what has been called an “invisible hurricane” – have been plagued by a record number of fires, power failures, leaks, spills and breakdowns this year, causing dozens of them to shut down temporarily or trim production. These mechanical breakdowns have created a bottleneck in domestic … Read More
The $100 dollar a barrel draws closer. Middle East members of the oil cartel Opec are under pressure for an immediate rise in production, after a warning from investment bank Goldman Sachs that prices could hit $95 a barrel this year. On the energy markets yesterday, a wave of speculative activity pushed Brent crude to … Read More
The Independent leads with yet another climate change related front page about how climate change is ravaging Tuvalu in the South Pacific. “For Tuvalu, reports the paper “a string of nine picturesque atolls and coral islands, global warming is not an abstract danger; it is a daily reality. The tiny South Pacific nation, only four … Read More
The US Senate debated an energy bill yesterday that would raise auto fuel economy standards for the first time in nearly 20 years and make oil industry price gouging a federal crime. Democratic leaders in both the Senate and House said they want broad energy legislation passed before the Fourth of July congressional recess, hoping … Read More
The average national price of a US gallon of gasoline hit US$3.073 on Monday, up almost a penny from Sunday‘s also record-setting price. Gasoline is now well above the previous record of $3.057, set on Sept. 5, 2005, soon after hurricane Katrina hit the US coast. Prices could increase further. America’s “summer driving season” begins … Read More
BP conceded defeat in the auction yesterday of a $7.6 billion stake in Rosneft that had been held by the bankrupt company Yukos. This allowed the state oil company to buy its own stock at a 10 per cent discount to the market value.
This winter in the northern hemisphere was the warmest on record, the US government has admitted. The National Oceanic and Atmospheric Administration said the combined land and ocean temperatures from December to February were 1.3 degrees Fahrenheit above average for the period since record keeping began in 1880. During the past century, global temperatures had … Read More
A group of 40 German NGOs called on G8 Environment Ministers today to phase out fossil fuel subsidies at home and use their influence to steer the World Bank away from fossil fuels and towards a new energy revolution. A long list of German organizations, including the German NGO Forum on Environment and Development, Oxfam … Read More
