Petroleum

Ann Arbor (Informed Comment) – Secretary of State Mike Pompeo had a phone call with Saudi crown prince Mohammed Bin Salman on Tuesday. So reports Sam Meredith at CNBC. Then the State Department issued a statement on Wednesday that said, “Secretary Pompeo and the Crown Prince focused on the need to maintain stability in global […]

Featured

“A Seller’s Market for Bankruptcy Talent:” The Beginning of the End of Methane-Producing Fracking?

Juan Cole

Ann Arbor (Informed Comment) – On Monday, the price of West Texas Intermediate petroleum fell below $30 a barrel for the first time in four years. Elliot Smith at CNBC reports that BP CFO Brian Gilvary is braced for petroleum demand actually to contract in 2020. This prediction is very bad news for US fracking […]

Featured

Behind the Turmoil: Russia Provoked Oil Price Fall to Protect its Markets from US Frackers, which could now Collapse

Juan Cole

Ann Arbor (Informed Comment) – Last weekend, OPEC Plus, an expanded cartel of petroleum exporters, considered a plan for members to cut back on their oil production so as to support prices in the face of a slowing world economy owing to the novel coronavirus. The Russian Federation rejected the plan put forward by OPEC, […]

Climate Crisis

“A Toothpick in a Tsunami”: US Big Oil Faces Bankruptcy as Prices Plunge 30% on Saudi Expansion

Juan Cole

Ann Arbor (Informed Comment) – Oil prices plummeted by 30% on Monday morning in Asia on news that Saudi Arabia intended actually to cut its prices and increase its production on April 1 to more than 10 million barrels a day. As a result, Asian markets also took a huge hit. Riyadh’s move came after […]

Denialism

How Louisiana Lawmakers Stop Residents’ Efforts to Fight Big Oil and Gas

ProPublica

Louisiana has pioneered ways for other states to discourage environmental protests around “critical infrastructure” projects. Much of it can be traced back to efforts by corporate lobbyists.

Climate Crisis

Cramer: “We’re in the Death Knell Phase” of Big Oil, as 44% of Norway New Autos are Electric

Juan Cole

Ann Arbor (Informed Comment) – CNBC stock picker Jim Cramer startled his conservative fan base this week by refusing to push ExxonMobil and other petroleum stocks. He solemnly informed his audience that he is “done” with fossil fuel securities. He pointed out that pension funds all over the world are divesting from them because of […]

Brazil

Soleimani’s Killing is a Global Event: Brazil’s Politicians, Oil Markets Shaken by Mideast Instability

Tori Avila

Sao Paulo (Special to Informed Comment) – Recently, after the American military action that killed Iranian General Qassem Soleimani in Bagdad, Brazilian President Jair Bolsonaro said that “Brazil supports any action against terrorism around the world, and so should the entire international community”, and also that “the country has absolutely no intentions to take advantage […]

Donald Trump

Trump’s Soleimani Assassination: It’s All about the Oil

Reese Erlich

(48Hills.org) – Reese Erlich, who has reported from the region for 20 years, sorts out the impact of Trump’s drone attack that killed a popular Iranian general. On Jan. 2 a US drone fired a missile on a car caravan leaving the Baghdad airport, killing Iranian Major General Qassem Suleimani and leaders of Iraqi militia […]

Environment

Polluter’s Paradise: How Oil Companies Avoided Environmental Accountability After 10.8 Million Gallons Spilled

ProPublica

By Joan Meiners, The Times-Picayune and The Advocate This article was produced by ProPublica in partnership with The Times-Picayune and The Advocate, which is a member of the ProPublica Local Reporting Network. ( ProPublica ) – Louisiana still hasn’t finished investigating 540 oil spills after Hurricane Katrina. The state is likely leaving millions of dollars […]