Nothing like the words “Arctic” and “oil drilling” to get the environmental campaigners excited.
Add banks to the mix, and you have the perfect mix for a modern day witch-hunt.
The latest targets are Cairn Energy and the Royal Bank of Scotland. In a joint press release, PLATFORM, Friends of the Earth Scotland and the World Development Movement on Tuesday said they “condemn [the] link between public money and Cairn’s Arctic drilling – RBS provided loan to oil company one month before it acquired rig for arctic drilling.” Read more
Testimony this week in the US Coast Guard and Bureau for Ocean Energy Management investigation has often been tedious and repetitive. Lawyers, representing more than a dozen clients, are asking the same questions, leading to those overseeing the proceedings to jump in repeatedly, trying to speed things up. But these are top lawyers, used to getting their way, and so the investigators relent, and the testimony drones on. That said, some nuggets have cropped up. So for those who can withstand the testimony, making it through the day with frequent trips to the back of the room for the hot coffee on offer, the hearing is worth attending. Read more
Elsewhere this Wednesday:
- The Gates path to an energy revolution
- Oil: Save it for the combine
- Will robots clean up oil spills in the future?
- Peter Tertzakian: As US economy sputters, China’s importance to oil producers grows
- Insurers paying high price for disasters Read more
- Cairn Energy switches focus to Greenland – FT
- Xstrata buys into Saharan iron ore – FT
- Natural gas futures premium is at narrowest in seven years – Bloomberg
- BHP faces hurdle of shareholder vote – FT
- Drillers may face months of waiting even after deep-water ban lifted – Bloomberg
- Study sees dissipating oil spill – WSJ
- India rejects Vedanta bauxite plans for Orissa – FT
- Toyota plans 5m cumulative hybrid sales by 2015 – Reuters
- John Wood upbeat in spite of profit fall – FT
- Biden says US on track to double renewable energy capacity – Reuters Read more