Economics

Total's high friends in low places

Christopher Helman

Dramatic Shift in the Peak Oil Debate
Written by Kurt Cobb
Wednesday, 19 January 2011

If you write about, speak about, or talk with your family, friends and co-workers about peak oil, you've almost certainly been asked: "Well, who else is saying what you're saying?"

German Government Rejects Report ‘Peak Oil’ Occurred in 2010
By Rainer Buergin - Jan 24, 2011

Chancellor Angela Merkel’s government rejected a report by Germany’s armed forces that global crude-oil production reached its maximum last year, parliament’s HIB newsletter said.

Crude output “can be increased through 2035 under today’s conditions, assuming an optimal development and exploitation of reserves,” HIB said today, citing the government’s response to a query by the opposition Green party. The government’s outlook is based on International Energy Agency estimates, it said.

Extreme Offshore: The Hunt for Hard to Find Crude

Written by Al Fin
Thursday, 27 January 2011

Brazil's quest for extreme oil may cost as much as US$ 1 trillion. That is a lot of money to invest in a such a risky proposition -- to retrieve oil that is miles deep underwater. But oil prospectors and producers around the world are on the prowl for extreme crude -- found in places that previous generations would not have dreamed of going.

Education, action forum set on pipeline

By the Lincoln Journal Star JournalStar.com |
Thursday, January 27, 2011

Pipeline expert Paul Blackburn of Plains Justice and author Mary Pipher will speak Saturday at an education and action forum about the proposed TransCanada Keystone XL pipeline.

A panel will present information on the pipeline, followed by a Q&A with attendees. The forum will run from 10-11:30 a.m. at First United Methodist Church, 2723 N. 50th St., and will wrap up with a grassroots activism training and launch of a new action guide, according to a news release.

Groups ask Upton to remember the Enbridge oil spill
Upton promises work on pipeline safety legislation
By Eartha Jane Melzer | 01.26.11

When Enbridge’s Lakehead 6B pipeline spilled a million gallons of tar sands crude into the river that runs through the heart of Rep. Fred Upton’s (R-St. Joseph) district last year, the congressman pledged aggressive action to protect the Great Lakes ecosystem.

Harper’s embrace of ‘ethical’ oil sands reignites 'dirty' arguments
STEVEN CHASE
OTTAWA— From Saturday's Globe and Mail (January 08, 2011)

Stephen Harper is embracing the notion that Canada’s controversial oil sands are an “ethical” source of energy, strengthening his support of the maligned resource and kicking off a new chapter in the debate over what critics call “dirty oil.”

The Prime Minister told reporters Friday that his government wants to “explain to the world” that petroleum from Western Canada’s oil sands is superior in respects to crude from other countries.

Damaged oil sands upgrader to resume production soon
January 11, 2011 | 08:21
Frank Landry | QMI Agency

EDMONTON - An oilsands upgrader damaged by fire last week could resume production at half-capacity sooner than expected, says Canadian Natural Resources Limited (CNRL).

But that will depend on whether the province gives the go-ahead.

The company said it is working with Occupational Health and Safety to determine what went wrong at the site, about 75 km north of Fort McMurray.

Madagascar Oil tax in dispute before float

Rowena Mason
UK Telegraph 04 Jan 2011

Last month the Madagascar government announced that it planned to seize the oil group’s licences forcing Madagascar Oil to suspend trading in its shares just three weeks after the company floated on AIM.

The suspension was another blow to the reputation of the AIM market, coming just weeks after fellow oil minnow Desire Petroleum claimed to have found oil, only to admit days later that it was only water.

How Ethical Are Canada's Ethical Funds?

By Larry Powell

January 12, 2011

"Conscientious" investments and the tar sands connection

I doubt that any investors with a social conscience would assume that the
"ethical" funds they hold would be helping pay for such projects as the
Alberta oil sands.

I certainly didn't. Though it turns out, I was wrong!

All five of Canada's major banks lend money to tar sands operators. And all
five are actually included in the portfolios of the many ethical investment
funds in this country.