oil

70% of oil and gas companies have been hacked – and the threat is growing

cybersecurity-slider

A survey from Siemens with the Ponemon Institute shows that most oil and gas companies were hacked last year, writes Judy Marks, CEO of Siemens USA. Data is being compromised and supplies are getting stolen, but most companies are still not taking adequate action. Marks explains how companies may protect themselves. … [Read more...]

Donald Trump’s China First, Russia Second, America Third foreign policy

Chinese President Xi Jinping at Davos photo World Economic Forum

By letting his foreign policy be governed by a simplistic “America First” principle, Donald Trump is achieving the exact opposite of what he intends. His way of putting America First, is enabling China and Russia to position themselves as the paramount nations on the world stage, writes energy and foreign policy specialist Michael Klare. Courtesy of Tomdispatch. … [Read more...]

The $200 billion fossil fuel subsidy you’ve never heard of

flood in the UK in 2007 (photo Shelly Jo)

In the United States, the official “social cost of carbon” (SCC) enters into many rules and regulations, such as fuel economy standards. According to Amir Jina, the SCC, which currently is calculated to be $36 per ton, shows that the U.S. fossil fuel sector gets $200 billion a year in hidden subsidies. The government should use the SCC to increase the carbon price, argues Jina, but the Trump administration is hardly inclined to do so. First … [Read more...]

Is President Trump headed for a war with China? 

US sends nuclear-powered aircraft carriers USS John C. Stennis and USS Ronald Reagan into South China Sea, June 2016, photo: US Navy

The brewing conflict around the South China Sea, with its large oil and gas resources, could easily turn into a catastrophic war between the US and China, writes Rajan Menon, international relations specialist at City College New York and Columbia University. Menon explains what is behind the territorial claims on the South China Sea and why it will be extremely risky for the US to try to confront China there. Courtesy of TomDispatch. … [Read more...]

Carbon Tracker: no growth for oil and coal from 2020, gas can flip-flop

carbon bubble protest (photo Susan Melkisethlan)

Falling costs of electric vehicle and solar technology could halt growth in global demand for oil and coal from 2020, finds a new report co-authored by the Grantham Institute at Imperial College London and the Carbon Tracker Initiative launched on Thursday. The future of natural gas is highly uncertain in this new scenario analysis. … [Read more...]

BP’s Energy Outlook: between forecasting and advocacy

BP views the future (photo BP)

BP’s new Energy Outlook predicts ever-growing demand for oil and gas, and rising emissions that would take the world well beyond 2°C of warming. According to Greg Muttitt, Senior Advisor at NGO Oil Change International, previous Outlooks do not provide much confidence in BP’s projections, but it clearly helps BP if decision-makers believe that’s what the future holds. It looks like the forecasting value of BP’s Outlook is undermined by its use as … [Read more...]

Theft of refined oil products threatens global stability

refined oil taken to the market in Nigeria (photo Stakeholder democracy)

The theft of refined oil products, such as petrol and diesel, poses significant threats to the global economy and to the stability of states and regions in which it is prevalent, according to a first-ever in-depth study of global downstream oil theft, conducted by Ian M. Ralby for the Atlantic Council. The report shows that refined oil theft is becoming ever more sophisticated and increasingly involves those who are supposed to guard against it. … [Read more...]