Daily Archives: January 24, 2011

Sheila McNulty

At Chevron’s last shareholder meeting, five people were arrested. The company has for years now been having a hard time with protestors – particularly about a lawsuit about environmental damage allegedly left in Ecuador by one of the companies it acquired. And certainly the arrests of those who the company says were troublemakers at the meeting must have been a welcome turn of events for Chevron.

Yet it really has not worked out as Chevron might have hoped. There will likely be continued protests at its upcoming shareholder meeting.

Sheila McNulty

The US Environmental Protection Agency unleashed a backlash against ethanol when it waived a limitation on selling gasoline that contains more than 10 per cent ethanol for cars with model years from 2001 through 2006.

The agency had been studying the impact of fuel that contains up to 15 per cent ethanol, known as E15, on older passenger vehicles (including cars, SUVs and light pickup trucks) after already approving its use in newer vehicles.  It announced Friday that testing showed that E15 does not harm emissions control equipment. From Lisa Jackson, EPA administrator:

Whenever sound science and the law support steps to allow more home-grown fuels in America’s vehicles, this administration takes those steps.

FT Energy Source

- Big oil groups expected to spend $128bn – FT

- Seneca urges Dynegy shareholders not to sell to Icahn – WSJ (£)

- Oil price outlook shrouded by economic fog – FT

- Pipeline blast probe finds welding flaws – WSJ (£)

- Leaky Alaska oil line deemed risky since 2008 – Reuters

- Geologists defend carbon storage after leak reports – NYT Green blog

- Oil traders indicted over alleged kickbacks – FT

- Tony Hayward eyes Glencore role – The Telegraph

- BP victim fund is ‘inaccurate and misleading’ – The Telegraph

- Indonesia to sign $15bn deals with China – FT

- Indonesia’s $2.8bn natural gas project gets go-ahead – Argus

- EPA approves more ethanol in gasoline – NY Times

- Greece announces €600m solar project – FT

- UK nuclear generators will face £1bn in accident clean-up costs – The Observer

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