Tag Archives: oil

Could Global Tide Be Starting To Turn Against Fossil Fuels?

Could Global Tide Be Starting  To Turn Against Fossil Fuels?
From an oil chill in the financial world to the recent U.S.-China agreement on climate change, recent developments are raising a question that might once have been considered unthinkable: Could this be the beginning of a long, steady decline for the oil and coal industries? Alarm bells are ringing for the masters of the financial universe, too. The governor of the Bank of England, Canadian banker Mark Carney, warned repeatedly during 2014 ... Read more

How Solar Power Could Slay The Fossil Fuel Empire By 2030

How Solar Power Could Slay The Fossil Fuel Empire By 2030
​Above: Abengoa Solar’s Solnova Solar Power Station ​In just 15 years, the world as we know it will have transformed forever. The ​age of oil, gas, coal and nuclear will be over. A new age of clean power and smarter cars will fundamentally, totally, and permanently disrupt the existing fossil fuel-dependent industrial infrastructure in a way that even the most starry-eyed proponents of ‘green energy’ could never have imagined.  We are ... Read more

With Sub-$60 Oil, Fracking & Tar Sands Losses Threaten Whole Financial System

With Sub-$60 Oil, Fracking & Tar Sands Losses Threaten Whole Financial System
A new financial crisis is threatening to dwarf the ‘subprime’ mortgage debacle, writes Paul Mobbs. Cheap money from central banks has fuelled some $1.3 trillion of risky investments in high-cost ‘unconventional’ oil and gas. Now, with oil sinking below $60, all that paper is turning to junk – and that’s putting the entire economic system at risk. By Paul Mobbs The Ecologist, December 17, 2014 Brought about ... Read more

How Wall Street Really Is Failing The Planet

How Wall Street Really Is Failing The Planet
Investors are putting short-term rewards ahead of the long-term health of the planet. The International Energy Agency estimates that another $10.5 trillion will need to be invested in clean energy by 2030 to avoid raising the planet’s temperature by more than 2 degrees Celsius. If warming exceeds that level — or even if it falls short — it could have catastrophic, irreversible effects. Financing for fossil fuels snapped ... Read more

Oil refinery threatened by sea-level rise, asks government to fix problem

Oil refinery threatened by sea-level rise, asks government to fix problem
I pointed out last week that the major oil companies are actually much more willing than Republican politicians to admit the reality of climate change. I offered a few explanations as to why, but left out an important one: If you’re in business, you simply cannot afford to ignore the effects of climate change. The oil industry in particular builds expensive infrastructure, and its scientists and engineers use the best available science to ... Read more

The Scourge of ‘Peak Oil’

When demand for oil consistently surpasses supply, experts warn that our lives will look “very differently”. By Dahr Jamail Al Jazeera, Juyly 26, 2011 Energy derived from oil reaches, quite literally, every aspect of our lives. “We’re going to see major changes in industrial civilisation … anything with a parking lot is going to be in trouble” [EPA] From the clothes we wear, to the food we eat, to how we ... Read more