Oil

Impact Of Stranded Assets Begins: Chevron Writes Down $11 Billion In Fossil Fuel Investments

December 14, 2019 Staff, Reuters.com Educate! Chevron, Oil

The second-largest U.S. oil company, which plans to hold its 2020 spending program flat at $20 billion, said it may sell shale gas properties and its stake in a Canadian liquefied natural gas project. San Ramon, California-based Chevron and other energy companies have pledged to restrain spending after the collapse in oil prices earlier this decade forced many to borrow to cover the costs of long-term projects. Chevron said it expected writedowns this quarter related to a deepwater Gulf of Mexico project, which needs higher oil prices to churn a profit, and shale gas in Appalachia...

The Israel Lobby’s Hidden Hand In The Theft Of Iraqi And Syrian Oil

December 13, 2019 By Agha Hussain and Whitney Webb, Mintpressnews.com Educate! Inter-Imperialist Rivalry, Iraq, Israel, Oil, Syria

KIRKUK, IRAQ — “We want to bring our soldiers home. But we did leave soldiers because we’re keeping the oil,” President Trump stated on November 3, before adding, “I like oil. We’re keeping the oil.” Though he had promised a withdrawal of U.S. troops from their illegal occupation of Syria, Trump shocked many with his blunt admission that troops were being left behind to prevent Syrian oil resources from being developed by the Syrian government and, instead, kept in the hands of whomever the U.S. deemed fit to control them, in this case, the U.S.-backed Kurdish-majority militia known as the Syrian Democratic Forces (SDF).

New Frontline In Campaign Against Fossil Fuels: Local Bans On Oil & Gas Infrastructure

December 10, 2019 Chris D'Angelo, Huffpost.com Resist! Ban, Fossil Fuels, Oil

Late last month, the Boston suburb of Brookline became the first East Coast city to ban oil and natural gas infrastructure in new construction projects. The bylaw, which the town’s legislative body passed Nov. 20 by an overwhelming 207-3 vote, prohibits gas hookups in new buildings and large renovations beginning in 2021 ― a move proponents say will help the suburb of 58,000 people achieve its ambitious goal of zeroing out greenhouse gas emissions by 2050. There was little organized opposition to the measure following its introduction in August, local elected officials said.

Under Cap & Trade California’s Greenhouse Gas Emissions Increase

November 18, 2019 By Lisa Song, Propublica.org Educate! California, Climate Change, emissions, greenhouse gases, Oil, pollution

Gov. Jerry Brown took the podium at a July 2017 press conference to lingering applause after a steady stream of politicians praised him for helping to extend California’s signature climate policy for another decade. Brown, flanked by the U.S. and California flags, with a backdrop of the gleaming San Francisco Bay, credited the hard work of the VIPs seated in the crowd. “It’s people in industry, and they’re here!” he said. “Shall we mention them? People representing oil, agriculture, business, Chamber of Commerce, food processing. … Plus, we have environmentalists. ...”

US Seizure Of Oil Fields Escalates Tensions In Syria

November 16, 2019 Bill Van Auken, Wsws.org Educate! Inter-Imperialist Rivalry, Middle East, Oil, Syria

The US has deployed hundreds of troops backed by armored vehicles into oil fields located in Syria’s northeastern Deir Ezzor province, where they are reportedly building two new bases. Turkish media have reported that large quantities of construction equipment and materials have been sent into the region, along with the troops, tanks, armored personnel carriers and ammunition. Pentagon officials defended the renewed deployment at a press briefing Thursday. However, they resolutely refused to answer questions about US President Donald Trump’s statements that the troops were there to “take the oil”...

US Congressional Panel Outlines Next Phase Of Dirty War On Syria: Occupy Oil Fields And Block Reconstruction

November 14, 2019 Ben Norton, Thegrayzone.com Educate! Inter-Imperialist Rivalry, Middle East, Oil, Syria

Despite President Donald Trump’s order of a partial withdrawal of troops from Syria, the United States’ regime-change war against the country continues in broad daylight. At a US government-funded think tank at the forefront of shaping Washington’s interventionist designs, an American official succinctly laid out the continued-regime change strategy. Dana Stroul, a longtime US diplomat who oversaw a congressionally mandated study of Syria...

The New Middle East That’s Coming

November 7, 2019 By Conn Hallinan, Fpif.org Educate! Inter-Imperialist Rivalry, Middle East, Oil

The fallout from the September attack on Saudi Arabia’s Aramco oil facilities is continuing to reverberate throughout the Middle East, sidelining old enmities — sometimes for new ones — and re-drawing traditional alliances. While Turkey’s recent invasion of northern Syria is grabbing the headlines, the bigger story may be that major regional players are contemplating some historic re-alignments. After years of bitter rivalry, the Saudis and the Iranians are considering how they can dial down their mutual animosity.

Keystone Leaks 383,000 Gallons In North Dakota On The Same Day As Trump State Department’s Pipeline Hearing

November 1, 2019 By Marlee Kokotovic, Nationofchange.org Educate! Keystone XL, Leak, North Dakota, Oil, Pipelines

The Keystone pipeline, that carries tar sands oil from Canada through seven states, leaked more than 383,000 gallons of oil according to North Dakota regulators. The company has promised the spill has been contained but the cause is still unknown. The leak was noticed on Tuesday and the pipeline has been shut down since, but its damage spread 1,500 feet long by 15 feet wide. State Environmental Quality Chief Dave Glatt stated some wetlands were affected but not any drinking water sources.

Trump Shifts From Ending “Forever Wars” To Sending Tanks Into Syria’s Oil Fields

October 31, 2019 Bill Van Auken, Wsws.org Educate! Inter-Imperialist Rivalry, Middle East, Militarization, Oil, Syria, US Imperialism

US Defense Secretary Mark Esper Friday confirmed that Washington would leave military forces in Syria to maintain control of the country’s principal oil and gas fields. The Pentagon is “considering how we might reposition forces in the area in order to make sure that we secure the oil fields,” Esper said. His remarks came at the close of a meeting of NATO defense ministers that expressed bitter resentment within Europe over US President Donald Trump’s green lighting of a Turkish invasion of northeast Syria earlier this month along with his announcement that US troops would be pulled out of the region.

Russian MoD: Washington Loots Syrian Oil And Transports It Outside Country

October 29, 2019 Staff, Sana.sy Educate! Inter-Imperialist Rivalry, Middle East, Oil, Russia, Syria

Moscow, SANA- Russian Defense Ministry affirmed that what Washington does in Syria is a looting and burglary on a state level. Commenting on satellite images that were taken last September and are now being published by the ministry, Major General Igor Konashenkov, the Russian Defense Ministry’s Spokesman, said that “tank trucks guarded by US military servicemen and private military companies smuggle oil from fields in the eastern part of Syria to other countries.” “Washington loots the Syrian oil and transport it to outside Syrian territories under American military men guard”...

Former Exxon Scientists Tell Congress of Oil Giant’s Climate Research Before Exxon Turned To Denial

October 26, 2019 Marienne Lavelle, Insideclimatenews.org Educate! Climate Change, Exxon, Oil

Telling their story before a Congressional committee for the first time, two former ExxonMobil scientists on Wednesday detailed how the oil giant turned its back on the research they did for the company 40 years ago on the looming threat of climate change. They gave their testimony in Washington, D.C., just as Exxon went on trial in New York on allegations that it misled investors about climate change risks, underscoring how political and legal risks have dovetailed for a corporate giant that for years tried to sow doubt about the risks of carbon emissions.

US Troops Are Staying In Syria To ‘Keep The Oil’ – And Have Already Killed Hundreds Over It

October 24, 2019 Ben Norton, Thegrayzone.com Educate! Inter-Imperialist Rivalry, Middle East, Oil, Syria, US military

US President Donald Trump has reassured supporters that he is “bringing soldiers home” from the “endless” war in Syria. But that is simply not the case. While Trump has ordered a partial withdrawal of the approximately 1,000 American troops on Syrian territory — who have been enforcing an illegal military occupation under international law — US officials and the president himself have admitted that some will be staying. And they will remain on Syrian soil not to ensure to safety of any group of people, but rather to maintain control over oil and gas fields.

WSJ, NYT Celebrate ‘Shale Revolution’ For Investor Class, Despite Its Leading To Our Doom

October 17, 2019 Joshua Cho, Fair.org Educate! Corporate Media, Energy, Fossil Fuels, Oil

It’s not hard to figure out that corporate media represent the perspectives and interests of a small elite investor class of the US population, rather than its vast working class majority. Simply compare the size of the “Business” section in major newspapers like the Wall Street Journal and the New York Times—ostensibly on opposite sides of the political spectrum—with the nonexistence of their “Labor” sections. But it is hard to think of a more palpable example of corporate journalists seeing themselves aligned with the interests of the investor class, against literally everyone else on the planet...

How Arts Workers Took On Big Oil

October 14, 2019 By Katherine Hearst, Newint.org Organize! Fossil Fuels, Oil, Workers

Seven and a half years ago, a group of arts workers, actors and campaigners jumped on stage before a BP-sponsored Royal Shakespeare Company production to do a guerrilla Shakespearean performance against the oil industry. The group soliloquized over the RSC’s decision to accept the sponsorship in the wake of the Deepwater Horizon drilling disaster, and BP’s decision to start extracting oil from the highly polluting and destructive tar sands in Canada. That first performance marked the launch of BP or not BP’s manifesto.

Ecuador Declares State Of Emergency As Fuel Protesters Battle Police

October 4, 2019 Staff, Reuters.com Resist! Ecuador, Oil, Protests, Repression

QUITO (Reuters) - Ecuador’s President Lenin Moreno declared a state of emergency on Thursday as protesters hurled stones and erected burning barricades after the end of decades-old fuel subsidies as part of a $2 billion government fiscal reform package. Police responded with tear gas in the worst unrest for years in the oil-producing Andean nation. “Down with the package!” demonstrators shouted, referring to measures enacted this week as Moreno puts Ecuador on a centrist, market-friendly path after years of leftist rule.

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