As crude oil prices rose over $78 a barrel, the Financial Times reports how OPEC is offering a small production increase in an effort to cool the rising prices and reassure industrialised countries. The upward trend towards $80 a barrel...
The US House of Representatives missed an important opportunity to end oil aid in a bill [Acrobat pdf] that will “re-authorize” the Overseas Private Investment Corporation (OPIC) – one of two agencies in the US government that uses taxpayer dollars...
The Anchorage Daily News reports how, when oil giant Shell ran into problems recently securing federal air pollution permits needed to launch its controversial offshore drilling campaign for this summer, the company went to the state’s top pollution regulator for...
The US House of Representatives has repealed $16 billion in oil company tax breaks, while providing billions of dollars in incentives for renewable energy and conservation. While this represents only a small fraction of subsidies to the oil industry annually,...
There may be a war of words at the moment between protestors and the airline industry at the climate camp outside Heathrow over the damage caused to the climate by aviation, but there is more bad news for the aviation...
Here is another sign of China’s growing influence and activity in Africa. China's biggest oil company CNPC has reached a deal with Sudan to search for oil and gas in the north of the country on the coast of the...
So Iraq’s controversial oil law draws ever closer. Earlier today, AP and Reuters reported that Iraq's cabinet approved changes to the law and will now submit the bill to parliament. However, a UPI story just out from Ben Lando (who...
A day after admitting that Australia was in Iraq for the oil, the country’s Defence Minister Brendan Nelson has made a spectacular U-turn by saying that security is a separate issue for resources. "Iraq has never been about oil," he...
Six Nobel Peace Prize laureates have released a statement in opposition to the proposed controversial Iraqi oil law, that some observers believe could go before Parliament as early as this week. The laureates include Betty Williams, Mairead Maguire, Rigoberta Menchu,...
OPEC-member Kuwait has reconfirmed that its oil reserves are 100 billion barrels, disputing a report that the figure was around half that amount. "We confirm that Kuwait's oil reserves are 100 billion barrels," acting oil minister Mohammad al-Olaim told reporters...
