Later today, U.S. President Donald Trump is set to meet with at least seven senior oil executives in person at the White House to discuss the historic plunge in the oil price.
oil industry outlook
Canadian crude selling for “roughly the same price as a Big Mac”
Warren Mabee, the director of the Institute for Energy and Environmental Policy at Queen’s University, said he “wouldn’t be surprised if Canadian crude prices briefly go negative – a scenario where producers are paying people to take away product.”
Make the Fossil Fuel Industry Pay the $2 Billion Bushfire Recovery Fund
For years, Big Oil and Big Coal have carried on drilling and mining as if they were immune from the consequences of their actions. They knew the risks, but ignored them. Now they must pay.
One Year After Landmark IPCC Report: We have to “Shut Big Oil down or face extreme climate disruption.”
“Rather than planning an orderly decline in production”, Big Oil is “doubling down and acting like there is no climate crisis. This presents us with a simple choice: shut them down or face extreme climate disruption.”
“Reckless” Trump’s drilling leases could emit more carbon than EU does in a year
Since taking office, the Trump administration has offered close to 378 million acres of public lands and waters for oil and gas leasing, which is more acreage than any other administration in history.
As We Boil, Big Oil Finally Admits It Can’t Burn All its Oil
The head of Strategy for BP, Dominic Emery, has admitted that some of the company’s oil and gas “won’t see the light of day.”
Fund Managers Worth $10 Trillion: “Writing on the wall for oil companies”
“The writing is on the wall for oil companies that do not support global efforts to avoid a climate catastrophe by urgently phasing out fossil fuels and transitioning to a low-carbon world.”
“Shockwaves” as Norway’s $1Trill wealth fund plans to disinvest from upstream oil
The beginning of the end of the age of oil moved a step closer today
US Shale Companies Facing “Catastrophic Failure” over Ballooning Debt
As the fledgling UK fracking industry bleeds investors’ money in alarming quantities on a daily basis, plagued by ongoing issues of democratic accountability, seismic activity, financial viability and on-going legal challenges, it will find no comfort from looking across the pond.
Fund managers recognise “imminent risks posed to fossil fuel investments from climate change”
“The fund management sector recognises the imminent risks posed to fossil fuel investments from climate change and the transition toward a zero-carbon economy”