Venezuela’s Congress has given initial approval to a windfall oil tax that extends President Hugo Chavez’s campaign to increase government revenue from the oil industry. The tax will tap into private company profits amid record oil prices above $100 per barrel, and will step up his confrontation with the global energy giants, like BP.
extreme energy
Iraq War Fuel Costs Soar
So you think you’re being ripped off by Big Oil? Spare a thought for the poor old American military in Iraq that is burning fuel at a staggering rate. Military units pay an average of $3.23 a gallon for gasoline, diesel and jet fuel, some $88 a day per service member in Iraq, according to … Read More
Solar Activity “Not Behind Climate Change”
Another nail in the coffin for the climate sceptics. Changes in the sun’s intensity are not behind modern climate change, new evidence suggests. The research, carried out by physicists at Lancaster University in the UK, undermines claims by climate sceptics that cosmic rays are key drivers in cloudiness and temperature. The theory claims that variation … Read More
Nigerian State Oil Reform Nears Completion
Nigeria’s plans for the reform of its state oil behemoth will be presented to President Umaru Yar’Adua by the end of April, according to the country’s Oil Minister Odein Ajumogobia. The Nigerian National Petroleum Corporation (NNPC) is a partnership with a series of global oil giants exploiting the world’s eighth largest reserves, which has faced … Read More
Big Oil’s Biggest Joke…
“On April Fools’ Day, the biggest joke of all is being played on American families by Big Oil,” so said Edward J. Markey chairman of the House Select Committee on Energy Independence and Global Warming. In front of him sitting like peas in a pod were the executives from Exxon Mobil, Shell Oil, BP America, … Read More
Gore Launches $300m Climate Advertising Blitz
The rumour on the street is that Al Gore will declare himself an independent candidate for President this week. Whether or not that is true, he has unveiled a new $300m advertising blitz intended to force a debate on climate change during the presidential elections. The Nobel laureate, who appeared with his wife, Tipper, on … Read More
Welcome to Fossil Fools Day
How appropriate that Big Oil is being quizzed on April Fools Day In Washington. As five senior executives get hot under the collar infront of Edward Markey’s committee, international actions are taking place today to mark what has been dubbed “Fossil Fools Day”. The Day got off to early start today in London, when activists … Read More
Obama’s Oil Spill
Newsweek has picked up on the story of Obama taking oil money even though he claims he doesn’t. (As you can see from Oil Change’s cool tool – he does take oil money). According to Newsweek: “ In a new ad, Obama says “I don’t take money from oil companies … that’s a little too … Read More
UK Watchdog Warns About Carbon Trading
The fast-growing market in carbon dioxide emissions poses risks that could threaten other commodities markets, the British Financial Services Authority has warned. The watchdog said problems including investors being sold unsuitable products, confusion over the regulation of emissions traders, and insufficient official data created risks to both the fledgling global emissions markets and to related … Read More
Watch Live: Congressional Hearing with Top Big Oil Executives
Its April Fool’s Day, and Congress is giving us a chance to have some fun while taking a serious look at the impact of Big Oil. Oil Change International will be watching the hearing closely, and we hope you can watch it with us! Rep. Ed Markey (D-Mass), who chairs the Energy Independence and Global … Read More