There has been much discussion recently about how big a role speculators have been playing in the sharp rise in energy prices, though no consensus has emerged on this point.
Posts on ‘June 26th, 2008’
BPZ Resources, Shell seek Peruvian joint venture
NEW YORK (Associated Press) – Shares of BPZ Resources Inc. soared Thursday after the oil and gas exploration and production company said it is in talks with a unit of Royal Dutch Shell PLC about jointly developing properties in Peru.
Oil jumps above $140 on OPEC, Libya comments
NEW YORK (AP) – Oil futures shot above $140 Thursday after OPEC’s president said oil prices could rise well above $150 a barrel this year and Libya said it may cut oil production.
San Francisco may name sewage treatment plant after Bush
Reagan has his highways. Lincoln has his memorial. Washington has the capital, and a state, too. But President George W. Bush may soon be the sole president to have a memorial named after him that you can contribute to from the bathroom: “an appropriate honor for a truly unique president.”
What’s really causing rising oil prices?
As the skyrocketing cost of energy continues to rapidly erode the standard of living of billions of workers around the globe, a handful of transnational oil companies are being given hundreds of billions of dollars in no-bid oil contracts in Iraq.
Solution to the Global Petroleum Crisis
Rising petroleum prices may plunge the world into a global recession. Heres what to do about it.
Put a Tyrant in Your Tank
Jeroen van der Veer is no pushover. The 60-year-old CEO stands out as a tough guy in an industry filled with them. In 2004, after taking the helm of Shell, the frugal, hawk-faced chief executive forced the $300 billion oil company through a painful restructuring. He borrowed a management model from his Dutch military days, deliberately holding strategy sessions in cramped rooms where his subordinates had to stand while their leader remained seated. This tough demeanor was glaringly absent, however, when van der Veer met with Russian president Vladimir Putin in the winter of 2006.
America, Over Big Oil’s Barrel
To repel public hostility and government action, meanwhile, the American Petroleum Institute, the main oil and gas lobbying group, has launched a multimillion dollar media blitz.
BP needs a chairman
Other possibilties… Rio Tinto chairman Paul Skinner… Mr Skinner, 63, may not relish a job with an expected term of six to nine years, and is too imbued with the Shell culture, in which he marinated for more than four decades.
Ex-BP worker tells of broken equipment: 2 friends died in earlier 2004 accident, he says
A former BP employee suing the energy company for injuries allegedly suffered in the 2005 Texas City refinery explosion testified Wednesday that he had asked supervisors to fix broken equipment for years before the blast.
Nigeria: Shell Restarts Bonga Under Naval Cover
Shell Nigeria Exploration and Production Company, a subsidiary of the Anglo-Dutch oil giant, Shell, has restarted oil production on the Bonga Floating, Production, Storage and Offloading (FPSO) vessel under the protection of two Nigerian navy frigates.
Congress Pressured on Oil Prices
Congress is working on a series of proposals to prevent speculators from driving up the price of oil.
Parties Split on How to Expand Offshore Drilling
…oil companies, amid a global drilling frenzy, are stretched so thin they will be hard-pressed to take on big new projects anytime soon. More than 400 major drilling and production projects are competing for engineers, rigs, seismic equipment and steel to build platforms, and the costs of doing the work have skyrocketed.
700 militants arrested this year, Saudis say on suspicion of planning attacks on the country’s oil industry and other targets
Saudi Arabia has arrested 700 militants in the past six months on suspicion of planning attacks on the country’s oil industry and other targets, the interior ministry said yesterday.
Whatever the Iraq war was about, we were assured, it definitely wasn’t about oi
…not only did the four energy giants – BP, Exxon Mobil, Shell and Total – write their own contracts with the Iraqi government, an unheard-of practice: they have also reportedly secured rights of first refusal on the far more lucrative 30-year production contracts expected once a new US-sponsored oil law is passed, allowing a wholesale western takeover. Big Oil is back with a vengeance.
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