Travel, emissions, and manufacturing are down The International Energy Agency (IEA) just released their latest oil market forecast this morning, and it expects global oil demand to decline this year as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity. The situation remains fluid, creating an extraordinary [...]
When I told a girlfriend I was going out on a Shell oil rig she scrunched up her face and quizzically asked why. If you ask people where they buy their gasoline, they will rattle off the name of their local gasoline station. Most people don't think about where petroleum comes from that they are [...]
By Stephen Leahy Here's the frightening implication of a landmark study on carbon emissions: By 2018, no new cars, homes, schools, factories, or electrical power plants should be built anywhere in the world, ever again, unless they're either replacements for old ones or carbon neutral. Otherwise, greenhouse gas emissions will push global warming past 2ËšC [...]
By Stephen Leahy After years of heralding it's green credentials, BP has quietly been selling off it's renewable energy investments and focusing solely on fossil fuels Oil giant BP spent millions of dollars telling the world it was moving “Beyond Petroleum” into renewables. Now it is quietly shifting “Back to Petroleum”, announcing the [...]