Read the latest insights and analysis from the experts at Oil Change International.
Oil giant BP will pay nearly $21 billion to settle its 5 year old dispute with US Federal and State authorities over the Deepwater Horizon oil spill, which killed eleven workers, and spilt millions of gallons of oil across the Gulf of Mexico.
There is a temporary reprieve this morning for the oil industry as the oil price has climbed one percent on the news that US drilling has slowed yet again.
The oil cartel, OPEC, has confirmed what has been obvious to many for months: US shale production is in deep, deep trouble as the fracking boom bursts in the face of low oil prices.
There are many contradictions about Shell’s Arctic misadventure to drill for oil, but three are the most striking: Firstly the company is spending billions of dollars and risking the reputation of the company on oil that can never be burnt.
For a while now a growing number of people have been asking a series of pertinent questions about Shell’s Arctic drilling operations, which could probably be boiled down to this: Why would the global oil giant risk billions of dollars of its own money, irreparable damage to a pristine environment, as well as exacerbate climate change by drilling in the Arctic for oil that we can never afford to burn?
This morning under the cover of darkness, 26 Greenpeace climbers scaled the St. Johns Bridge in Portland and rappelled over the side.
Those in the oil industry hoping for a reprieve from the volatility of the oil price had their hopes dashed yesterday as the price of oil dropped to its lowest level in four months.
About 75 "kayaktivists" activists protested against Shell’s Arctic drilling on Saturday afternoon, holding a peaceful on-the-water rally against the company's ill-judged activities.
