Exxon's CEO, Rex Tillerson, has said that rising costs to build pipelines to exploit Arctic natural gas from Alaska and Canada could soon be uneconomic. Tillerson said that the cost estimate to build a gas line from Canada's Mackenzie Delta...
Democratic presidential hopeful John Edwards has called for a federal investigation into possible antitrust violations by the oil industry and criticized oil companies for raising gas prices. "There's absolutely no justification for the gas companies to be as profitable as...
A statement released June 1 by the US Government Accountability Office (the "investigative" arm of Congress), finds that "the US federal government receives one of the lowest government takes [from oil and gas development] in the world." The testimony, delivered...
Lawyers for Total have asked a French court to acquit the oil giant over a December 1999 oil spill that killed some 75,000 birds off the western coast of France and caused hundreds of thousands of dollars in damage. The...
British Member of Parliament, Michael Meacher, has introduced an “early day motion” that calls on the British aid agency, the Department for International Development, to stop subsidizing oil companies through development agencies like the World Bank. Other Members of Parliament...
Increasing state ownership and rising resource nationalism are emerging as the main long-term threats to global oil supplies, argues the consultancy, PFC Energy. The report highlights the shift in power towards state-controlled national oil companies. Multinationals own or have access...
So BP is meant to have entered a new era with its new CEO Tony Hayward. But where was Hayward until recently? He was in charge of BP’s exploration and production division. He was in charge of the company’s Alaskan...
Big Oil went on the defensive this week, being grilled before a House Judiciary Committee antitrust panel. It denied denying accusations that mismanagement and a lack of competition are the reasons behind this spring's record gasoline prices in the US....
Iraq's Vice President has publicly opposed Iraq’s controversial Oil Law, saying it gives too many concessions to foreign oil companies. "We disagree with the production sharing agreement," Tariq al-Hashemi told reporters yesterday. "We want foreign oil companies, and we have...
Yet another CEO of a major oil company has announced the arrival of peak oil. Jim Buckee, head of Talisman Energy Inc., said in a speech last week that global oil production has peaked and will soon start declining. "I...
