Daily Archives: March 31, 2010

Sheila McNulty

The responses filtering in from the oil and gas industry on Obama’s announcement today on offshore drilling are rather curious. Read more

Sheila McNulty

President Obama’s move to announce the first new offshore oil and gas lease sale in the Atlantic Ocean in more than two decades comes even as the administration rolls back access in offshore Alaska. The give and take to the oil and gas industry appears part of a balancing act as the Obama administration is attempting to win Republican support for a climate bill even as it assures environmentalists of its determination to protect US coasts.

But is it going to be enough? One longtime industry observer put it this way: the administration is giving Republicans the doughnut hole, not the doughnut. Some of the most prospective areas are closer in along the Florida coast, and those will remain off limits. And offshore Alaska has been a place the industry has been counting on to grow supplies, with the assertion they can protect the environment while growing production. Read more

Sheila McNulty

The pace of major mergers and acquisitions in the oil and gas sector has picked up in recent months. Think ExxonMobil buying XTO, BP buying a package of assets from Devon, and so on. But behind the scenes numerous smaller deals are being done, as the industry restructures following the economic downturn. Read more

Carola Hoyos

At the International Energy Forum in Cancun, Mexico, addressing oil price volatility is the key issue occupying delegates of the world’s biggest energy consuming and producing nations. The Opec oil cartel already has a very clear view on this issue. But the idea of interfering with the market is one the US can not abide by, at least not when it comes to oil. Read more

Kate Mackenzie

As predicted last week, in the wake of the healthcare act’s passage, a loosening of restrictions on US offshore drilling is likely to play a crucial part in Washington’s evolving climate bill – but its effect on votes is by no means certain. Read more

Sheila McNulty

For Chevron, the ruling of an international arbitration tribunal Tuesday in its favour is a major win. The company has been trying to claim it has been unfairly treated by the Ecuador courts for some time – a claim Ecuador’s judiciary vehemently denies.  Read more

Kate Mackenzie

- World oil ministers hear of peak oil by 2020

- 100% renewables is actually feasible

- Koch Industries responds to Greenpeace

- Washington stuck in a loop on Nabucco

- TV weather presenters versus climate scientists

- Chasing ‘impossible’ refining capacity sales Read more

Kate Mackenzie

Gregor has updated his Big Mac index of oil covering the last 10 years of crude oil prices, as measured in McDonald’s Big Mac burgers – a way of stripping out the effect of US dollar fluctuations, which are an increasingly strong driver of oil prices. The findings, in short: oil costs more in terms of food.  Read more

Kate Mackenzie

One of the investigations the ‘climategate’ hacked climate science emails scandal has concluded that the CRU did not tamper with scientific data – but it stressed that climate scientists should routinely disclose their data and methdology. Read more

Kate Mackenzie

MPs call for scrutiny of climate data (FT)

Chevron wins $700m oil claim against Ecuador (FT)

BP wins support against oil sands move (FT)

China invited to join IEA as oil demand shifts (FT)

RWE and EON to build first nuclear plant on Anglesey (Telegraph)

Petrobras, CNPC, Sinopec Preparing Agreements Before Hu’s Visit to Brazil (Bloomberg) Read more