Daily Archives: May 5, 2010

Kate Mackenzie

BP has had one small success in its attempt to stop its damaged oil well leaking into the Gulf of Mexico: one of three leaks has been stopped. But ratings agency Moody’s has revised the outlook on the company’s debt to stable from negative, citing uncertainty over liabilities and clean-up costs.  Read more

Kate Mackenzie

Iran’s oil minister may have considered the threat of gasoline import sanctions “a joke” last month, but a Reuters report on Wednesday suggests that the country’s motor fuel imports may have drop as much as 20 per cent in May, compared to last month. Read more

Kate Mackenzie

Credit-ratings agency Fitch has looked at which sectors would be most vulnerable – and which would benefit — if/when crude oil prices reach $150. Not surprisingly, airlines are among those worst affected, although this is partly due to their limited hedging. Read more

Fiona Harvey

Environmental promises by the major UK parties are mostly vague, inoffensive, and uncosted. However a clever policy website suggests the Greens — or at least, their policy ideas — might be more popular than the polls would have us believe. Read more

Kate Mackenzie

The political and regulatory fallout from the Gulf of Mexico oil leak is yet to be worked out, but there are already signs signs that it will be substantial. Economist Matthew Kahn, who has previously written about the effects of several other environmental disasters such as Exxon-Valdez and Bhopal on regulations, floats several possibilities for this one. Read more

Kate Mackenzie

Senate majority leader Harry Reid reportedly said the GoM oil leaks should expedite the passage of a climate/energy bill. This makes intuitive sense – after all, we’re hearing a lot about a backlash against offshore drilling, and some politicians have come out against it.

But allowing expanded offshore drilling was seen as a key sweetener for winning support for the bill.  Read more

Kate Mackenzie

- ‘Some well-placed sources have even suggested that Transocean does too much preventative maintenance’

- US exempted BP’s GoM drilling from environmental impact study

- Did a climate bill just get less likely?

- Industry leaders more open to energy descent issues

- The undying myth of US crude exports

- The oil spill’s ripple effect  Read more

Kate Mackenzie

- Obama backs call to raise BP liabilities cap – FT

- Louisiana acts to protect its coastline – FT

- Congress turns up heat on BP – FT

- BP counts cost of clean-up, and blow to brand – FT

- Transocean prepares for lawsuits – FT

- BP attaches shut-off valve, begins shipping containment structures – NOLA.com [And more] Read more