Newsflash
New ’super-spike’ might mean $200 per barrel oil
NEW YORK (MarketWatch) — With $100-a-barrel here for now, Goldman Sachs says $200 a barrel could be a reality in the not-too-distant future in the case of a “major disruption.”
Goldman on Friday also boosted by $10 the low end of its 2008-2012 projected range for crude to $60 a barrel — significantly lower than current [...]
Mexico’s oil output falls, Pemex needs cash infusion
Should the national oil company allowing private investments? Critics worry about foreign control.
Coatzacoalcos, Mexico - Oil output in Mexico, the third-biggest supplier to the US, is declining, and the state company Petroleos Mexicanos (Pemex) lacks the technology to explore for new reserves. For many the [...]
Two decades on, US high court takes up Exxon Valdez oil spill case
WASHINGTON (AFP) — The US Supreme Court on Wednesday will hear arguments on whether ExxonMobil Corporation should pay 2.5 billion dollars in damages for a massive oil spill two decades ago that despoiled millions of acres of pristine Alaska wilderness.
The high court will hear ExxonMobil’s appeal, in the latest chapter in a long-running legal battle [...]
Oil rig security threat ‘a hoax’
A major operation to airlift more than 500 workers from a North Sea oil rig has been wound down.
The rescue was sparked by a bomb threat made by a woman on the Safe Scandinavia rig, sources said.
Fears that a device was on board the accommodation block prompted a massive operation involving police, coastguard and RAF [...]
Exxon wins freeze on $12 billion worth of Venezuelan assets
NEW YORK (Reuters) - Exxon Mobil Corp (XOM.N) has won court orders freezing up to $12 billion in Venezuelan assets around the world as it fights for compensation for operations lost to President Hugo Chavez’s nationalization drive.
The largest U.S. company sought the asset freeze to guarantee repayment should it win arbitration over the Cerro Negro [...]
Syriana (movie)
If you haven’t seen Syriana yet, you should.
Oil spill expert was delayed in reaching Cosco Busan accident
A key investigator was unable to get to the Cosco Busan for hours after the ship hit the Bay Bridge on Nov. 7 because the state agency responsible for preventing and responding to oil spills did not have a boat to take him there.
The pollution specialist who eventually corrected early, lowball estimates of the spill’s [...]
NEWSFLASH: Shell’s CEO sends grim energy futures email
Below is the full text of an email sent by Jeroen van der Veer, the CEO of Shell, to all Shell employees, and explicitly meant for wider distribution. (Update: an almost identical version is now available on Shell’s website)
It is a clear acknowledgment of the reality of peak oil, climate change and of the need [...]
