oil

China’s CNPC Set to Jumpstart Joint Oil Ventures in Venezuela
The China National Petroleum Corporation (CNPC) is reportedly laying the groundwork to revive projects in Venezuela. According to unnamed sources cited by Bloomberg, CNPC is hiring local enterprises and sending its own staff, including engineers, for main ...[Read more]
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Team Biden quietly approved a fat subsidy for one of America’s top coal suppliers
The St. Louis, Missouri-based company made its request for relief last year when the Trump administration was in office, and the Bureau of Land Management approved it in May. Arch Resources, formerly Arch Coal, is the second largest coal supplier in the c ...[Read more]
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Slamming China Won’t Save Fossil Capitalism From Itself – CounterPunch.org
The planet is burning and the arsonists are in charge, as one environmentalist once observed. So in late June and early July, with extreme heat afflicting a quarter of the globe, it became clear that the time had come for the Biden government, and indeed ...[Read more]
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Washington County’s New Rules Against Fossil Fuel Expansion Celebrated as ‘Blueprint’ for Nation
In a move that comes as wildfires ravage the Western United States and could serve as a model for communities nationwide, the Whatcom County Council in Washington voted unanimously on Tuesday night to approve new policies aimed at halting local fossil fue ...[Read more]
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90% of the World Breathes Polluted Air. Symbolic Emission Targets Aren’t Enough.
On Tuesday, the Biden administration signaled it plans to do just that. According to the Intergovernmental Panel on Climate Change, countries need to nearly halve emissions by 2030 to stay on track to keep warming below 1.5 Celsius, though many groups say ...[Read more]
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Indigenous-Led Movement Credited With ‘Huge Victory’ as Biden Plans to Rescind Keystone XL Permit on Day One
"Our communities have been fighting KXL for over a decade, tooth and nail, in the dirt and in the courts." "A huge victory for Lakota and Indigenous front liners and Water Protectors. None of this would have been possible without their sacrifices," Nick E ...[Read more]
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Kochs and ALEC Behind Criminalization of Dissent Bills in Five States
Iowa, Ohio, Oklahoma,Wyoming, Minnesota and Louisiana have introduced or passed legislation to criminalize environmental dissent. There is evidence that bill mill organizations such as ALEC and the bipartisan group Council of State Governments (CSG) had t ...[Read more]
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Latin America Mexico Rejects US Oil Sanctions on Venezuela
Mexican energy secretary Pedro Joaquin Coldwell said today that Mexico won't impose oil sanctions on Venezuela, because of the negative impact this would represent on the country's population and the Caribbean. This comes after US Secretary of State Rex T ...[Read more]
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Giant oil field discovered in China with over billion tons of reserves
“Nearly 1.24 billion tons of crude have been found so far with about 520 million tons of proven reserves,” officials at the state’s company subsidiary PetroChina told the media. The company stressed the discovery came after ten years of geological e ...[Read more]
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World’s Largest Investment Fund to Exit Oil Stocks
Norway's Sovereign Wealth Fund, the largest investment portfolio on the planet by a wide margin, is set to divest any and all interests in the extraction, processing and sale of fossil fuels, an announcement that has stunned financial markets around the g ...[Read more]
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The House of Saud bows to the House of Putin
The House of Saud was horrified by Russia’s successful campaign to prevent regime change in Syria. Moscow was solidifying its alliance with Tehran. Hawks in the Obama administration were imposing on Saudi Arabia a strategy of keeping oil prices down to ...[Read more]
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