US Shale Capital “Starting to Dry Up”
The US shale revolution is slowly grinding to a halt as the continuing low oil price takes its toll on the viability of fracking in the country.
Read the latest insights and analysis from the experts at Oil Change International.
The US shale revolution is slowly grinding to a halt as the continuing low oil price takes its toll on the viability of fracking in the country.
G20 leaders first pledged to end fossil fuel subsidies back in 2009. Almost six years later, and despite reiterating that vow each and every year, they have precious little to show for it.
A report by the Institute for Policy Studies (IPS) reveals that fossil fuel bosses are receiving “stratospheric” levels of pay to explore and produce oil which we cannot afford to burn if we are to avoid catastrophic climate change.
President Obama’s Arctic tour continues to make global news. Yesterday Obama, who has become the first President to visit the Alaskan Arctic, warned that “Climate change is no longer some far-off problem; it is happening here, it is happening now.”
On Monday, President Obama and Secretary Kerry are going to Alaska. Their main goal (as we talked about here) is to see the front lines of climate change first hand. Yet at the same time, in the same region, Royal Dutch Shell is now powering ahead with its newly approved summer 2015 drilling season.
On Tuesday, I joined over 100 new and old friends as we took to the street outside Secretary Kerry’s house in Washington, DC. By the end of the day, over 20 young people had been arrested for locking down and refusing the leave Kerry’s porch.
The EIA's Reference Case forecasts show us the energy future we need to avoid for a safe climate. Yet the Obama Administration uses these forecasts as the basis for drilling in the Arctic and elsewhere on Federal Lands and the Outer Continental Shelf.