10 May 2016, The Hill, Oil companies abandon Arctic drilling rights. Major oil companies have abandoned hundreds of leases for offshore drilling rights in the United States’s portion of the Arctic Ocean. Federal government documents obtained by environmental group Oceana show that ConocoPhillips Co., Italy’s Eni and Iona Energy, Inc., abandoned all their leases in the Chukchi Sea, to the north and west of Alaska. Royal Dutch Shell has abandoned numerous leases and said it plans to relinquish all but one. Oil companies have, in total, abandoned 2.2 million acres of Arctic drilling rights, Oceana said, and 80 percent of all area in the American Arctic leased in a 2008 sale has been or will be abandoned. For Shell and ConocoPhillips, the decisions came just before a May 1 deadline to pay millions of dollars to keep its leases active. Shell spokesman Curtis Smith confirmed Oceana’s account, saying the decision came “after extensive consideration and evaluation.” Shell spent about $2.5 billion over seven years in preparation to drill a single exploratory well last summer in the Chukchi following a disastrous attempt in 2012. It concluded after drilling that the exploration was not worth the costs of drilling in the remote area, so it decided to abandon Arctic drilling for the foreseeable future. Read More here
Tag Archives: oil
4 May 2016, The Guardian, The time has come to turn up the heat on those who are wrecking planet Earth – n interesting question is, what are you waiting for? Global warming is the biggest problem we’ve ever faced as a civilisation — certainly you want to act to slow it down, but perhaps you’ve been waiting for just the right moment. The moment when, oh, marine biologists across the Pacific begin weeping in their scuba masks as they dive on reefs bleached of life in a matter of days. The moment when drought in India gets deep enough that there are armed guards on dams to prevent the theft of water. The moment when we record the hottest month ever measured on the planet, and then smash that record the next month,and then smash that record the next month? The moment when scientists reassessing the stability of the Antarctic ice sheet have what one calls an ‘OMG moment’ and start talking about massive sea level rise in the next 30 years? Join the Guardian Sustainable Business Aus network for news and features on the social and environmental impact of business, as well as other exclusive benefits. That would be this moment – the moment when 135 children have drowned in Thailand trying to cool off from the worst heatwave on record there. The moment when, in a matter of months, we’ve recorded the highest windspeeds ever measured in the western and southern hemispheres. For years people have patiently and gently tried to nudge us on to a new path for dealing with our climate and energy troubles – we’ve had international conferences and countless symposia and lots and lots and lots of websites. And it’s sort of worked—the world met in Paris last December and announced it would like to hold temperature increases to 1.5C or less. Celebration ensued. But what also ensued was February, when the planet’s temperature first broke through that 1.5C barrier. And as people looked past the rhetoric, they saw that the promises made in Paris would add up to a world 3.5C warmer—an impossible world. The world we’re starting to see take shape around us. So there’s a need to push harder. Read More here
28 April 2016, Tomgram: Michael Klare, The Coming World of “Peak Oil Demand,” Not “Peak Oil”. In a Greater Middle East in which one country after another has been plunged into chaos and possible failed statehood, two rival nations, Iran and Saudi Arabia, have been bedrock exceptions to the rule. Iran, at the moment, remains so, but the Saudi royals, increasingly unnerved, have been steering their country erratically into the region’s chaos. The kingdom is now led by a decrepit 80-year-old monarch who, in commonplace meetings, has to be fed his lines by teleprompter. Meanwhile, his 30-year-old son, Deputy Crown Prince Mohammed bin Salman, who has gained significant control over both the kingdom’s economic and military decision-making, launched a rash anti-Iranian war in Yemen, heavily dependent onair power. It is not only Washington-backed but distinctly in the American mode of these last years: brutal yet ineffective, never-ending, a boon to the spread of terror groups, and seeded with potential blowback. Meanwhile, in a cheap-oil, belt-tightening moment, in an increasingly edgy country, the royals are reining in budgets and undermining the good life they were previously financing for many of their citizens. The one thing they continue to do is pump oil — their only form of wealth — as if there were no tomorrow, while threatening further price-depressing rises in oil production in the near future. And that’s hardly been the end of their threats. Read More here
13 April 2016, Inside Climate News, CO2’s Role in Global Warming Has Been on the Oil Industry’s Radar Since the 1960s. Historical records reveal early industry concern with air pollutants, including smog and CO2, and unwanted regulation. The oil industry’s leading pollution-control consultants advised the American Petroleum Institute in 1968 that carbon dioxide from burning fossil fuels deserved as much concern as the smog and soot that had commanded attention for decades. Carbon dioxide was “the only air pollutant which has been proven to be of global importance to man’s environment on the basis of a long period of scientific investigation,” two scientists from the Stanford Research Institute (SRI) told the API. This paper, along with scores of other publications, shows that the risks of climate change were being discussed in the inner circles of the oil industry earlier than previously documented. The records, unearthed from archives by a Washington, D.C. environmental law organization, the Center for International Environmental Law (CIEL), reveal that the carbon dioxide question—an obscure corner of research for much of the 20th century—had been closely studied since the 1950s by some oil company researchers. Read More here