A top Interior Department official was told nearly three years ago about a legal blunder that allowed oil companies to avoid billions of dollars in payments for oil and gas pumped from publicly owned waters in the US. According to the New York Times a report by the department’s chief independent investigator, suggests that Interior … Read More
Apparently there are no lengths to which Bush Administration officials will not go in defense of Big Oil. According to Congressional Quarterly, the Interior Department’s Inspector General will shortly issue a report revealing that Department officials, after learning in 2000 of mistakes in leases that could cost the American people $10 billion, proceeded to cover … Read More
The Persian Gulf states need to pump $523 billion over the next 25 years in exploration and production to meet a steady growth in global demand, according to the Abu Dhabi-based Emirates Centre for Strategic Studies and Research in a new book.
A rare victory for people power. The Guardian has reported how the Achuar Indians from the Amazon have managed to get the Peruvian government to take notice of their plight. For decades they had been saying that their land had been heavily polluted and their waters poisoned by oil exploration, but they had been consistently … Read More
Further analysis of the IEA’s World Economic Outlook reveals that oil industry has barely increased its investment in oil and natural-gas production during the past five years after accounting for inflation.Data compiled by the IEA and reported in the Wall Street Journal, show that investment in the oil-and-gas industry was $340 billion in 2005, up … Read More