Last night, The President once again proposed ending subsidies to the oil industry. As we've said before, this is a great idea, and should be supported in full. That said, although we haven't seen details, it's quite unlikely that the...
Undermining its own credibility in Copenhagen and the integrity of its pledge to phase out support for fossil fuels, an agency of the Obama Administration, the United States Export-Import Bank, has reportedly approved $3 billion in financing for an Exxon...
Are the Iraqis gearing up for a major oil export drive? They have just launched their first new ship in 27 years and delivery of two more tankers is expected within three months. The Dijlah — the name for the...
Iraqi Oil Minister Hussain al-Shahristani has said that crude oil began to flow from the northern Iraqi city of Kirkuk to a Turkish export terminal last week. Al-Shahristani said Iraq is "pumping between 300,000 and 400,000 barrels a day of...
The already jittery oil price has risen even further after Nigeria's powerful oil unions began a strike yesterday at the state-owned oil company, the Nigerian National Petroleum Company as well as the Petroleum Ministry. They are also threatening to target...
Today, over 30 U.S. environmental, development and faith-based organizations sent a letter to the U.S. House of Representatives (Acrobat .pdf) calling on Members to support the End Oil Aid Act. "The U.S. can play a critical role in fighting our...
Environmental organizations today applauded Rep. Maurice Hinchey (D-NY) for introducing legislation that seeks to end subsidies for the international operations of oil companies. The “End Oil Aid” bill, introduced yesterday, calls on international financial institutions including the World Bank, Export...
WWF is calling on the UK Government to stop using its Export Credit Agency (ECA) to subsidize Big Oil and other carbon intensive sectors. ECAs are public agencies that provide government-backed loans, guarantees, credits and insurance to private corporations from...
Russia has halted the delivery of oil to Europe via Belarus as the acrimonious row between the two countries escalates, raising fears of oil shortages in at least five countries. Transneft, Russia's state-controlled pipeline operator, said it had been forced...
The fighting in Basra could soon affect Iraq’s oil supplies. Oil production and exports from Iraq's southern oilfields could be disrupted in three days if workers cannot reach their offices due to fighting in Basra. "If the military operations continue...
