A top Interior Department official was told nearly three years ago about a legal blunder that allowed oil companies to avoid billions of dollars in payments for oil and gas pumped from publicly owned waters in the US. According to the New York Times a report by the department’s chief independent investigator, suggests that Interior … Read More
Big Oil Profits
BP: Report to Heavily Criticise Safety Performance
A scathing report will be released today that criticizes safety and management practices at BP’s American operations, after an investigation at a Texas refinery nearly two years ago which killed 15 people and injured more than 170 others. The report, by James Baker, the former US Secretary of State, will state: “BP has not always … Read More
Bearing Point is Major Bush Financier
The Independent on Sunday continues its excellent reporting on the origins and scandal behind the soon to be introduced, US approved, Iraqi oil law. Last week the IoS reported that Bearing Point, a Virginia based contractor, heavily advised the Ministry of Oil on the law. This week we discover that Bearing Point contributed more than … Read More
BP Punished By Investors
BP’s shares have declined by over 3 per cent this morning on the news that its oil and gas production fell further than expected in the past three months, partly as a result of its beleaguered Alaskan operations. The news pulled the whole British energy sector down by more than 1%.
NYT: Incentives on Oil Barely Help U.S., Study Suggests
Great article from the New York Times last week, fyi. Original here. Or read on for pasted text.
Exxon’s Corruption of the Classroom
Laurie David, a producer of Al Gore’s film An Inconvenient Truth, has written a great article buried deep on the Washington Post website about the influence of Big Oil in American schools. Writes David: “At hundreds of screenings this year of An Inconvenient Truth, the first thing many viewers said after the lights came up … Read More
Bush Administration Lets Chevron Off the Hook
The US Interior Department has dropped claims that Chevron systematically underpaid the government for natural gas produced in the Gulf of Mexico, a decision that could allow energy companies to avoid paying hundreds of millions of dollars in royalties, the New York Times has reported.
Investment Bank: Politics influences price of oil
Check out New York Global Securities analyst Phillip Miller’s investment advice on oil, which boils down to: buy now, because the price is going back up after the election. “We believe that the last three major declines in the price of oil coincided with various U.S. Senatorial hearings and expectations surrounding the upcoming U.S. midterm … Read More
Profits Down at BP
BP’s troubles have been reflected in falling third quarter profits today when the oil gianthe troubles at oil giant BP were laid bare today when it posted falling third-quarter profits. said it made 6.23 billion US dollars in the three months to September 30 compared with 6.46 billion US dollars a year earlier. It reflected … Read More
Wall St. analysts: politics determines price
Think the idea that gas and oil prices have been driven down in advance of the election is exclusively the province of lefty liberal bloggers? Check out this piece on New York Global Securities Analyst Phillip Miller’s investment advice on oil – buy now, because the price is going back up after midterms. Miller said, … Read More