Archive for October, 2016

More News and Commentary

On the Blogs: ‘Is the Era of Oil Mega Projects Over?’

Irina Slav for oilprice.com: BP said earlier this year that its capex for 2016 would come in at less than the US$17 billion it had initially planned for the year. Shell boasted a 20-percent cut in its capex for 2015 from 2014, to US$29 billion. Exxon in March said it would be reducing its capital […]

October 31, 2016 Read More →

Editorial: Kentuckians Can Handle the Truth

From the Lexington Herald Leader: Give Gov. Matt Bevin’s environmental secretary credit. When asked about the prospects for Eastern Kentucky’s coal industry, he was honest — unlike all the misleading political ads and mailings that are bombarding Kentuckians. What Secretary Charles Snavely said was important, but how he prefaced it is even more enlightening in […]

October 31, 2016 Read More →

Even With Its Vast Plentitude of Ratepayer Subsidies, FirstEnergy Is Failing

Dan Shingler for Crian’s Cleveland Business: Chuck Jones needs to find about $200 million. That’s roughly the amount that Jones, CEO of Akron-based FirstEnergy Corp., says he needs to find in cost savings to preserve his company’s credit rating — and ultimately to stay independent. It will mean cuts to FirstEnergy’s expenses. That includes payroll, […]

October 31, 2016 Read More →

Coal Makes Poor People Poorer

Dana Nuccitelli for The Guardian: A dozen international poverty and development organizations published a report last week on the impact of building new coal power plants in countries where a large percentage of the population lacks access to electricity. The report’s conclusions are strikingly counter-intuitive: on the whole, building coal power plants does little to […]

October 31, 2016 Read More →

On the Blogs: A Dinosaur ‘Slowly Dying Before Our Eyes’

Andy Rowell for Oil Change International: For years people have been warning that Big Oil’s business model was fundamentally flawed and was not only putting the climate at risk, but millions of dollars of shareholders’ money. For years the industry’s critics warned the industry was ignoring the risks of climate change and was just caring […]

October 31, 2016 Read More →

Exxon: Profits Down, Reserves in Question

Bradley Olson and Anne Steele for the Wall Street Journal: Exxon Mobil Corp., which is under state and federal investigation for how it accounts for the value of its oil and gas wells, said Friday that it may be forced to recognize that as much as 4.6 billion barrels of its reserves are no longer […]

October 28, 2016 Read More →

‘Exxon Enters No Man’s Land’

Matthew Phillips for Bloomberg News: With the Paris agreement on climate ratified in December 2015, investors are increasingly confident that governments will act to reduce carbon emissions. That could put billions at risk for oil companies’ biggest shareholders—pension funds, institutional investors, and large asset managers—as the industry faces its worst downturn in a generation, with […]

October 28, 2016 Read More →

A Certain Oil Company’s ‘Death Spiral’

Tom O’Connor for International Business Times: Oil giant ExxonMobil may be in a death spiral, according to a new analysis issued Wednesday that detailed the company’s rise in long-term debt and decline in cash balance, net income and overall revenue. The Institute for Energy Economics and Financial Analysis (IEEFA), an energy-focused research group based in […]

October 28, 2016 Read More →

Judge Orders Exxon to Comply With Subpoena on Climate-Change Research

Devin Henry for The Hill: A state judge in New York on Wednesday ordered ExxonMobil Corp. and an auditing firm to comply with a state investigation into the company’s climate science. An order from New York Supreme Court Justice Barry Ostrager directed Exxon’s accounting firm to turn over documents related to Attorney General Eric Schneiderman’s […]

October 28, 2016 Read More →

Indian Electricity Giant Sees 30-40% Renewables by 2025

From the Economic Times of India: Tata Power will increase its renewable energy footprint to 30-40 per cent of the total 20,000-MW capacity it aims to build and operate by 2025, its chief executive and managing director Anil Sardana said. “The aim is to have 8,000-MW out of the 20,000-MW by 2025,” he said while […]

October 28, 2016 Read More →