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IEEFA
Reuters: Royal Dutch Shell is reviewing its holdings in the largest U.S. oil field for a potential sale, people familiar with the matter told Reuters, marking a key moment in its shift away from fossil fuels as it faces growing pressure to slash carbon emissions. The sale could be for part or all of Shell’s […]
IEEFA
Wall Street Journal ($): For all the talk of a transition away from fossil fuels, players in the energy sector are still willing to bet there is more money to be made in oil and coal. Major oil companies such as BP PLC and Royal Dutch Shell PLC are selling billions of dollars of assets […]
Bruce Robertson
It’s crunch time for the future of the north west of New South Wales, Australia. Will the region choose gas, or a renewable future? Jobs and investment are needed in the North West now, not in a decade’s time. Let’s look at what’s on the table. We’ve just seen the New South Wales government announce […]
Bruce Robertson
Markets are telling us renewables are the best solution for a faster recovery
With the economy faltering during the COVID-19 pandemic and jobs in short supply, different solutions are being proposed to move the country into a sustainable economic recovery. To benefit all Australians, many of whom are struggling with job losses, health concerns and faltering businesses, projects considered for the way forward should fulfil two simple criteria: […]
IEEFA
MarketWatch: Even Wall Street firms are urging clients to dump energy stocks While the S&P 500, the Dow Jones Industrial Average, and the Nasdaq Composite index hover near all-time highs, energy stocks have fallen on very hard times. Exxon Mobil — the world’s most valuable public company as recently as 2012 — has seen its […]
Tom Sanzillo and Kathy Hipple
Proposed mine based financial viability on inflated oil price estimates
Don Lindsay, CEO of Teck Resources, said last week that proceeding with the Frontier Oil Sands project may not happen, even if Canada approves its pending permit. A key reason he cites is the persistently low price of oil. Beyond any environmental considerations that might impact the final decision, the Federal Cabinet, which has until […]
IEEFA
Bloomberg: Capital keeps marching out of Canada’s oil industry, with Kinder Morgan Inc.’s sale of its remaining holdings in the country on Wednesday adding to more than $30 billion of foreign-company divestitures in the past three years. Pembina Pipeline Corp., based in Calgary, is snapping up Kinder’s Canadian assets and a cross-border pipeline in a […]
IEEFA
Renew Economy: US petroleum giant ConocoPhillips says it will install a 4MW battery storage array at its Darwin LNG plant to enable it to switch off one of the gas turbines that power the facility and cut its fuel and emissions by around 20 per cent. The Texas-based Conoco says it will be the world’s […]
IEEFA
Alberta’s tar-sands economy is faltering as global oil prices stay low, keeping local producers and associated businesses in money-losing or break-even mode, according to an article this morning in the New York Times. Under the headline “Lower Oil Prices Strike at Heart of Canada’s Oil Sands Production,” Ian Austen writes that “oil sands operators are […]
Tom Sanzillo
Good intentions aren’t the same as good strategy. In a column the other day in the weekly Hill Times of Toronto, Robert L. Evans, a professor emeritus at the University of British Columbia, suggested that Keystone XL opponents have been wasting their time. “The protest groups would have a much greater impact on the sustainability […]
IEEFA Australia: Renewables or gas – which will we choose?
It’s crunch time for the future of the north west of New South Wales, Australia. Will the region choose gas, or a renewable future? Jobs and investment are needed in the North West now, not in a decade’s time. Let’s look at what’s on the table. We’ve just seen the New South Wales government announce […]