A new briefing released today by OCI reveals that over the last ten years Norway, which calls itself a climate leader, has become Europe’s “most aggressive explorer for new oil and gas.” It is climate hypocrisy..
On the 10th Anniversary of the Deepwater Horizon disaster, “If anything, another disaster is more likely today as the oil industry drills deeper and farther offshore.”
We have known for years that the days of finding easy oil outside the Middle East are over. It means that the oil industry has to go into fragile ecological areas like the Arctic or exploit dirty unconventionals like the tar sands or shale gas.
The oil industry may be arguing that its back to business as usual after the Deepwater Horizon blowout, but the disaster is still causing major ripples within the investment community. And now the shareholders – who together represent investments of $2.5 trillion – are coming together to force through further changes. They are arguing that … Read More
Late last week, the British government gave the goahead for the American oil company, Chevron to start drilling a deepwater exploratory well as part of its Lagavulin project in the waters north of the Shetland Islands. In a highly controversial move, it is the first time the new British Coalition government has granted permission for … Read More
BP might be America’s bette noir right now after the Deepwater Horizon spill, but its fierce rival Shell is planning a massive expansion in the region. Shell plans to expand its operations in tar sands and in deepwater in the Gulf of Mexico. So never mind the repeated calls by environmental groups, communities and investors … Read More
Well we always knew that the oil spill disaster would have severe repercussions for the industry, a fact now conceded by the International Energy Agency (IEA). The IEA has warned that the spill from BP’s Macondo’s well “places the ability of the industry to access important new reserves on a knife edge“. Its latest monthly … Read More
British Prime Minister David Cameron came out batting for BP in Washington yesterday as he tried to “shield” the company over the allegations that BP lobbied for the release of the Lockerbie bomber. But more importantly, he warned US Senators not to “single out” BP over legislation that might ban BP from drilling in the … Read More
For many in America, BP has been public enemy number one since the Deepwater disaster started on April 20th. It’s not only the disaster itself, but the way BP has handled itself before and since then that has added to the palatable anger. The failure by the company to stop the spill, the public gaffes … Read More
David Cameron’s government is now said to be preparing for the worst: that BP will collapse and be broken up. One way that could be avoided is if key investors buy large chunks of the stricken oil giant. But one option might be just as unpalatable to the British as BP being broken up: the … Read More