Complicating the issue is the fact that several of the rebel-held oil fields are believed to be under the control of Jabhat al-Nusra,which has declared its allegiance to al-Qaeda. “There is no way the E.U. is going to do business with al-Qaeda,” says Ayham Kamel, a Syria analyst for the Eurasia Group in London. “So it creates the incentive for secular groups to take over these fields”—a factor that Western governments might have had in mind, he said, when they lifted the oil embargo. At the moment, the chaotic ground battle, with rival rebel groups defending disparate patches of turf, would make it all but impossible to knit together a viable oil industry. “There are hundreds of groups fighting Assad,” Kamel says. “For them to sell oil on international markets would seem very unlikely.
It was recently reported that the European Union would be lifting its oil embargo on Syria, in an effort to help fund what it calls “rebels” operating there.
The so-called "carbon bubble" is the result of an over-valuation of oil, coal and gas reserves held by fossil fuel companies. According to a report published on Friday, at least two-thirds of these reserves will have to remain underground if the world is to meet existing internationally agreed targets to avoid the threshold for "dangerous" climate change. If the agreements hold, these reserves will be in effect unburnable and so worthless – leading to massive market losses. But the stock markets are betting on countries' inaction on climate change.
Norway's oil fund, one of the biggest investors in the world, rose in value by 13.4% last year, its second-best performance ever.
The rallying cry "It's Scotland's Oil" helped the Scottish National Party to record its best-ever result in a Westminster General Election, in 1974.
Almost 40 years later the party is closer than ever to achieving its dream of independence.
Transparency International has named Venezuela the most corrupt nation in the hemisphere, matching Haiti and besting the likes of Paraguay and Nicaragua.
Now that Hugo Chávez is out of the way in Venezuela, the banksters are free to move forward with the effort to loot and pillage the oil-rich nation. Chávez’s idealistic political ideology of Bolivarianism and “socialism of the 21st century” stalled the effort for a number of years, but his death from the ravages of cancer will permit a more compliant leader to be appointed Wall Street overlords.
Shell was acquitted in a Dutch court on Wednesday morning of most of the charges against it for pollution in Nigeria, where disputed oil spills have been a long-running source of contention between the oil company, local people and environmental campaigners.
The actor, who was famed for playing J.R. Ewing on the hit show, died at a Dallas hospital on Friday after complications with his recent battle with throat cancer.
Two people were killed, two were missing and four were airlifted to a hospital Friday after an oil rig exploded in the Gulf of Mexico, according to local officials.
The new explosion came a day after BP settled criminal charges in the Macondo disaster by agreeing to pay $4.5 billion in penalties. It still faces up to $20 billion in civil fines.
An oil boom, spurred in large part by hydraulic fracturing, could boost U.S. production next year to more than 11 million barrels a day, which would nearly equal Saudi Arabia's current output, according to Energy Department projections. The spurt is expected to boost U.S. energy jobs.
As iranian currency collapsed, Saudi Arabian Oil Minister promised to supply more oil to Turkey if it decides to reduce its oil imports from Iran.
They are strangling Iran now, lol.
PVM Oil Futures trader Steve Perkins bought 7m barrels of crude in late-night trading binge on his laptop, driving the oil price to an eight-month high.
The Environmental Protection Agency (EPA) under directives from the Obama administration has demanded a 4 gallon minimum when purchasing gasoline with ethanol (E15 and E10). Simultaneously, Obama is pushing E15 in an attempt to sway the marketplace.
A long, narrow stretch of shale rock that runs along western Newfoundland's coastline might be home to North America's next big oil find.
despite enormous spending by oil companies on exploration and drilling worldwide, we have only just kept production on a plateau for the last seven years. These high prices and enormous capital spending were the reasons given by Daniel Yergin for the expected buildup of production volumes. So what went wrong?
The simple answer is that we've exhausted the easy-to-get oil and are now left with mostly the hard-to-get oil. It only makes sense that the early oil pioneers harvested the easy oil first.
Me and Tom testing out the ECONO CAN on pistols, rifles, and FULL AUTOS!!
IRAN (Is Not The Problem) is a feature length documentary film responding to the failure of the American mass media to provide the public with relevant and accurate information about the standoff between the US and Iran, as happened before with the lead up to the invasion of Iraq.
motherfucking corb lund from the motherfucking smalls
Venezuela’s deposits may be difficult to extract, according to Strategic Energy & Economic Research. “People still know that a lot of that is very hard to develop and is not as readily accessible the way Saudi reserves are,” Michael Lynch, the researcher’s president, said today in Vienna. “It’s the same with Canadian oil sands.”
The death of Suharto is a reminder of the west's ignoble role in propping up a murderous regime.
From 2008 but a good read, a remind of the types that run the world as well.