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Oil and Gas

The Oil Crash Is Coming Sooner Than We Think

Oil in the North Sea is expected to be net-energy negative by 2031. This means that in 2031, it’ll cost more energy to extract the fossil fuels than we would gain by using them, rendering extraction unfeasibly expensive. Yet, rather than use our remaining years of access to these fuels to turbo-charge new energy infrastructure, fossil fuels are being extracted and burned for business as usual: quick cash. Around the world, the lights will go off in nations that don’t have back-up renewables. That’s most of them. I interviewed Alister Hamilton, Director of Zero Emissions Scotland.

Climate-Science Deniers Are Plotting Against The Clean Energy Transition

Last July, a small group of rabble-rousers boarded a trio of powerboats, banners and bullhorns in hand. They were headed for the massive floating construction site of an offshore wind farm 35 miles from the eastern tip of Long Island, New York. As the boats motored through the swells, the self-styled activists broke into a chorus of pleas for the wind farm construction to cease—chants likely intended less for the still-faraway workers than for the camera there to capture footage. “Hear this message: We’re here to save the whales!” called out a man in a black polo shirt.

Report Exposes The Oil Giants ‘Fueling Israel’s War Machine’

A report published Thursday shows that major fossil fuel companies such as Chevron, ExxonMobil, Shell, and BP are playing a key role in propelling Israel's devastating military assault on Gaza, facilitating the country's supply of energy that powers Israeli jets and tanks as they bomb and shell civilians. The new research, conducted by Data Desk and commissioned by the advocacy group Oil Change International, examines the sources of Israeli jet fuel and crude imports in an effort to shine light on the web of countries and corporations implicated in the war on the Gaza Strip.

‘Fire Weather’: Big Oil’s Climate Conflagration

Few places illustrate the destructive cycle of fossil fuel-driven climate change as well as Alberta, Canada. Home to the tar sands boom, the province’s remote north has also become a site of some of the worst climate disasters in recorded history—like the 2016 Fort McMurray Fire, which swallowed up 1.5 million acres and burned for three months. John Vaillant, author of Fire Weather: A True Story from a Hotter World, joins The Chris Hedges Report to discuss the Fort McMurray Fire, the tar sands industry responsible for the conditions that produced it, and the tinderbox world Big Oil has made in its all-consuming pursuit of profit.

Inside The Campaign To Stop The Largest Gas Projects In Africa

In Mozambique’s northernmost province of Cabo Delgado, multinational giants TotalEnergies, ExxonMobil, Eni and others are developing three liquid natural gas, or LNG, projects. They will cost $50 billion, making them the largest LNG projects in Africa. Only one of these projects has started gas extraction, and already the industry has brought devastating consequences for communities, the land and climate — and has pushed the poor country further into debt. However, the industry has a thorn in its side: the international Say No to Gas! campaign, which won’t let it get away with its actions without a fight.

What’s At Stake If The US OK’s Building This Gas Pipeline To Mexico

In a rural area of West Texas, near the Mexico border, a cluster of geothermal springs once served as an oasis to the Carrizo/Comecrudo Tribe of Texas. Carpeted in grasses and shrubs, the land is home to rare aoudad sheep, deer, wild cats, and bobwhite quail. The muted tans and greens in the small valley and surrounding exposed rock mountains quiet the mind. The pristine site is in the proposed pathway of the 48-inch-diameter Saguaro Connector Pipeline, which would send natural gas produced in Texas’s Permian Basin 155 miles west, across the U.S.-Mexico border, to a liquefied natural gas (LNG) export facility in Puerto Libertad, Mexico. “Our concern is that the pipeline is going to go through the hot springs,” said Christa Mancias-Zapata, the executive director of the Carrizo/Comecrudo Tribe of Texas. “Anywhere you go in that area is a sacred site to our people.”

Iraqi Parliament Calling To Ditch US Dollar For Oil Trade

The Finance Committee in the Iraqi parliament made a statement on 31 January calling for the sale of oil in currencies other than the US dollar, aiming to counter US sanctions on the Iraqi banking system. “The US Treasury still uses the pretext of money laundering to impose sanctions on Iraqi banks. This requires a national stance to put an end to these arbitrary decisions,” the statement said. “Imposing sanctions on Iraqi banks undermines and obstructs Central Bank efforts to stabilize the dollar exchange rate and reduce the selling gap between official and parallel rates,” it added.

US Revokes Venezuela Gold License In Retaliation Against Court Ruling

The United States revoked a general license granted to the Venezuelan state gold company, Minerven, after Venezuela’s Supreme Court of Justice (TSJ) confirmed the disqualification of María Corina Machado from exercising public functions for a period of 15 years. The license (number 43) was issued in October 2023 along with others granted to the oil and gas industries within the framework of negotiations conducted in Barbados between the government of President Nicolás Maduro and sectors of the Venezuelan far-right opposition. The operations authorized in the license to Minerven must be liquidated before February 13, states the document from the Office of Foreign Assets Control (OFAC) of the US Treasury.

Why More Than 60 Indigenous Nations Oppose The Line 5 Oil Pipeline

The Line 5 oil pipeline that snakes through Wisconsin and Michigan won a key permit this month: pending federal studies and approvals, Canada-based Enbridge Energy will build a new section of pipeline and tunnel underneath the Great Lakes despite widespread Indigenous opposition. You may not have heard of Line 5, but over the next few years, the controversy surrounding the 645-mile pipeline is expected to intensify. The 70-year-old pipeline stretches from Superior, Wisconsin, through Michigan to Sarnia, Ontario, transporting up to 540,000 gallons of oil and natural gas liquids per day. It’s part of a network of more than 3,000 miles of pipelines that the company operates throughout the U.S. and Canada.

What Abandoning Fossil Fuels Could Look Like In The Arab World

For the second year in a row, world leaders met in the Arab world to negotiate the future of the planet. As a backdrop to the United Nations climate conference in Dubai, it’s a fitting venue for a planet-wide shift that scientists say needs to happen: The region has extensive deposits of oil and gas, but also immense, untapped potential for renewable energy. Over the past several years, European governments and corporations have made moves to capitalize off this potential, investing in sprawling mega-projects to capture the sun’s energy from the region’s vast deserts and export the electricity north.

US Troops Are Occupying Syria’s Oil Fields; Congress Rejects Withdrawl

The US military has occupied Syrian sovereign territory since 2014, preventing Damascus from accessing its own oil and wheat fields. A top Pentagon official has acknowledged that Washington’s strategy is to starve Syria’s central government of revenue it needs to rebuild, after a decade of war fueled by foreign powers devastated the country. Former US President Donald Trump boasted in 2020: “They say, ‘He left troops in Syria’. You know what I did? I left troops to take the oil. I took the oil. The only troops I have are taking the oil. They’re protecting the oil. I took over the oil”.

Reuters, New York Times Top List Of Fossil Fuel Industry’s Media Enablers

Darren Woods, the CEO of Exxon, celebrates the potential of carbon capture to dramatically reduce global emissions. According to Saudi Aramco’s podcast, the fossil fuel industry is innovating new climate solutions, and BP’s podcast proclaims more of the same. These messages sound like they’ve been pulled from the public-relations departments of the world’s largest oil companies, but they were produced and promoted by the in-house ad agencies of Bloomberg, Reuters, and The New York Times, respectively, and in the process benefited from the credibility those media brands have built with readers over the decades as trustworthy sources of news.

Cops Arrest 667 Just Stop Oil Activists Since 30 October

Just Stop Oil students and other supporters marched from New Scotland Yard in solidarity with political prisoners remanded for slow marching in recent weeks. They are calling for political prisoners being held for nonviolent climate protest to be freed, and for the climate criminals responsible for new oil and gas to be charged with genocide. At 12pm on Saturday 2 December, a crowd of around 80 Just Stop Oil supporters gathered at New Scotland Yard, where they heard testimonies from young political prisoners who have been imprisoned for demanding that the government take basic steps to protect the population by ending new oil and gas.

Oil And Gas Production Set To Escalate Under Landmark US Climate Law

A new report warns that oil and gas production in the United States is expected to rise under Biden’s signature climate law, the Inflation Reduction Act (IRA), even as the legislation helps to moderately lower fossil fuel demand through billions of dollars in clean energy investments. The report, “Biden’s Fossil Fuel Fail: How U.S. Oil and Gas Supply Rises under the Inflation Reduction Act, Exacerbating Environmental Injustice,” details how, despite the IRA’s significant spending on renewable energy, electric vehicles, and batteries, the policy will not be enough for the U.S. to meet its 2030 climate target of reducing greenhouse gas (GHG) emissions by 50 to 52 percent  below 2005 levels.   

Fossil Fuel Companies Made Bold Promises To Capture Carbon

Carbon capture and storage (CCS) was high on the agenda at New York Climate Week last week, where critics of the technology raised concerns it would be used to extend the life of the fossil fuel industry. For years, experts have pointed out that CCS has been primarily used to pump more oil out of the earth, using a process known as enhanced oil recovery (EOR). Burning that oil emits far more carbon dioxide (CO2) than what is captured, and therefore CCS doesn’t represent a viable solution to tackle climate change, critics argue. At a news conference after the one-day UN Climate Ambition Summit on September 20, Tzeporah Berman, chair of the Fossil Fuel Nonproliferation Treaty Initiative, said: “The oil companies acknowledged this year that they will not meet their bogus net zero commitments.
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