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Oil prices rise after OPEC members call for production freeze

2016-08-08 01:00:00| Offshore Technology

Oil prices have increased after several members of the Organization of the Petroleum Exporting Countries (OPEC) called for production freeze.

Tags: members call prices production

 

Do oil companies really need $4 billion per year of taxpayers' money?

2016-08-07 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed

New York Times: What would happen if the federal government ended its subsidies to companies that drill for oil and gas? The American oil and gas industry has argued that such a move would leave the United States more dependent on foreign energy. Many environmental activists counter that ending subsidies could move the United States toward a future free of fossil fuels helping it curtail its emissions of heat-trapping carbon dioxide into the atmosphere. Chances are, it wouldnt do much of either. In...

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Louisiana pols go to court blaming Big Oil for coastal ruin

2016-08-06 16:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Associated Press: The oil industry has left a big footprint along the Gulf Coast, where a Delaware-sized stretch of Louisiana has disappeared. But few politicians would blame Big Oil for ecosystem abuse in a state where the industry employs up to 300,000 people and injects $73 billion into the economy. Until now. Following the lead of Gov. John Bel Edwards, Louisiana political orthodoxy is being turned upside-down as prominent leaders of both parties join lawsuits seeking billions of dollars for environmental improvement...

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RSPO lifts suspension of Malaysian palm oil giant IOI

2016-08-06 00:57:00| Climate Ark Climate Change & Global Warming Newsfeed

Mongabay: Malaysias IOI Group has regained the right to sell certified sustainable palm oil under the brand of the RSPO, the worlds largest association for ethical production of the commodity. The Roundtable on Sustainable Palm Oil had suspended IOIs certification over environmental abuses by the companys units in the Indonesian part of Borneo island, known as Kalimantan. Green groups had accused the company of tearing down rainforest without the proper government permits, operating on carbon-rich,...

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BP reveals Great Australian Bight oil drilling sites are within marine reserve

2016-08-06 00:10:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: BP has quietly announced the planned location of its controversial drilling in the Great Australian Bight, and the two sites fall within the Commonwealth Marine Reserve. Despite being the subject of a Senate inquiry, and having its application to drill knocked back twice by the regulator NOPSEMA, BP had so far never released the precise location of its exploratory drilling wells in the pristine Great Australian Bight. In a document released by BP entitled Update on regulatory approvals, the...

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