The US ban on oil exports could be on the way out – at least to a limited extent, writes Alexis Arthur. And it could dramatically alter the landscape of North American energy integration.
China's economic growth is slowing, but growth may be even slower than the government says, Kurt Cobb writes – especially when electricity consumption is used as a proxy for growth levels.
Cheap oil has challenged the oil business, but refining has been a bright spot. That's good news for the likes of Exxon and Shell, whose losses at the well have been offset by strong demand for cheap gasoline and other refined products.
In the 1980s, it was apartheid. Now, divestment is being used to target fossil fuelsIn April, a group of Harvard University students called on the school to divest its $36 billion endowment of fossil fuel companies. They are part of a growing movement that is putting pressure on coal, oil, and natural gas companies.The Guardian launched a "Keep it in the Ground" campaign in mid-March to get The Bill & Melinda Gates Foundation and the Welcome Fund (a medical charity) to divest its $43.5 billion endowment from fossil fuel assets.
Oil majors like BP and ExxonMobil are optimistic that low oil prices are helping them trim fat and right-size their operations. But those savings could come at the expense of oil field service companies like Halliburton and Transocean.
Cheap oil is good news for motorists at the pump, but the price downturn has hurt employment in the once-booming US oil industry – and that has implications for the broader economy.
Arctic drilling is becoming increasingly appealing as sea ice melts, and Russia is planning to use nuclear power to help run ports, coastal infrastructure, and oil and gas extraction.
The US has taken over a two-year chairmanship of the Arctic Council, an international forum consisting of the eight nations that have territory in the Arctic. Up until recently it has been held up as a model of international cooperation.
Low oil prices have hurt production everywhere – including Iraq, where oil revenue is needed to help rebuild after years of turmoil.