Senate Republican Leader Mitch McConnell (Ky.) confirmed the Republican-controlled senate will first consider a bill to construct the Keystone XL oil pipeline when they begin work next year. However, the legislation would still need to get by the president’s desk and he may veto it. “We’ll be starting next year with a job-creating bill that enjoys… Keep reading →
The Intergovernmental Panel on Climate Change (IPCC) released a recent report, issuing the strongest warning yet on the devastating impact on climate change. According to the UN report, “even with adaptation, warming by the end of the 21st century will lead to high to very high risk of severe, widespread, and irreversible impacts globally.” One… Keep reading →
Major news out of Iraq is getting drowned out by falling oil price coverage. The Kurdish Regional Government and Iraq’s central government today reached an agreement on exporting oil and sharing revenue. The KRG will release 500,000 or 550,000 barrels of oil per day (reports conflict on this here and here) to Iraq’s State Oil… Keep reading →
US Vice President Joe Biden recently addressed the Atlantic Council Energy and Economic Summit in Istanbul, Turkey where he discussed numerous topics related to European energy security. Biden began his talk with the situation in Ukraine and Russia’s use of energy as a political tool. He recognized the fact that Russia will remain a major… Keep reading →
The US military and its regional allies conducted additional airstrikes against ISIS-controlled oil infrastructure in Syria and Iraq. “The U.S. said on Sunday that its forces along with Saudi Arabia and the United Arab Emirates targeted four modular refineries and a command facility north of Raqqa—Islamic State’s de facto capital in northeastern Syria. The U.S.… Keep reading →
Deemed one of the most-well-funded terrorist networks, the Islamist State in Syria and Iraq is reportedly making millions of dollars daily from smuggling, stealing, refining and selling oil. Completely shutting down their vast operation appears unlikely according to expert consensus. “When Islamic State fighters stormed across the Syrian border into Iraq and seized Mosul, a… Keep reading →
Iraqi Kurdish peshmerga forces and Iraq military personnel reportedly took control of a key dam in the northern part of the country. The dam that supplies water and 1 GW of electricity to local populations had been seized by Islamic State militants. There were still conflicting reports Monday morning about which side controlled the strategic… Keep reading →
Financial results from 127 global oil and natural gas companies showed increased use of debt to help fund operations – along with asset sales – in recent years amid flat oil prices. Low borrowing rates facilitated this phenomenon, though the long-term sustainability of this strategy is questionable. “Using debt to fuel growth is a typical… Keep reading →
A tanker carrying 1 million barrels of crude oil from Iraqi Kurdistan reportedly just rounded the Florida pan handle and is scheduled to land in Galveston, Texas. The buyer is unclear and Iraq’s official crude oil marketer SOMO is threatening to sue anyone purchasing the cargoes, which the government in Baghdad views as violating the… Keep reading →
Billionaire activist Tom Steyer came under the microscope last week when the New York Times profiled his role in managing a fund that invested heavily in Australian coal. Now a climate change mitigation crusader and democratic funder, some have called Steyer’s former Wall Street activity his Achilles’ heel, but many in the environmental community rushed… Keep reading →
