Big Oil Could Be In Big Trouble

Aug 19th, 2014 

by John Donovan. 

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By John Donovan

A number of current articles warn of falling oil prices. A zacks.comarticle says that oil prices have fallen below $100 to the lowest level this year and that natural gas has fared even worse. Nas.daq.com reports that the price of oil has plummeted, and that the fall is accelerating. It also points out that big oil has taken on $106 billion in new debt. A related article warns of $96 Billion of High-Risk Oil Megaprojects. The Russia/Ukraine crisis is partly responsible for the uncertainly and anxiety.

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Posted in: BP, Chevron, Exxon Mobil, Gas, GoogleNews, John Donovan, Oil, Oil Prices,Royal Dutch Shell Plc, Russia, Shell, Shell Project Delays, Shell Project Overruns,Ukraine, United States.
Tagged: BP · Chevron · ExxonMobil · Gas · John Donovan · Oil · Oil Prices · Royal Dutch Shell Plc

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Lac-Mégantic MMA Train Accident - 6 July 2013

Published on Aug 19, 2014

Animation - Sequence of events in the Lac-Mégantic derailment and fire

On 6 July 2013, a unit train carrying petroleum crude oil operated by Montreal, Maine & Atlantic Railway (MMA) derailed numerous cars in Lac-Mégantic, Quebec, and a fire and explosions ensued.

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TEENAGER INVENTS WATER PURIFIER THAT CREATES ELECTRICITY

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Royal Dutch Shell Plc .com News........

Royal Dutch Shell Plc .com News Roundup: 18 August 2014

Aug 18th, 2014

by John Donovan. 

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THE CORRUPT SULTAN OF BRUNEI – RECIPIENT OF SHELL WEDDING GIFT BRIBERY

Firstbiz. has published an article setting out 5 things it says you should know about the Sultan.

See “Meet Sultan of Brunei, the man willing to shell out more than $2 bn for Sahara’s hotels”

Extract: “Ironically, the Sultan’s Beverly Hills Hotel and Dorchester Collection properties in the United States have been subject to a boycott by many, including Hollywood personalities, following the Sharia penal code — which levies harsh punishments like flogging, the severing of limbs, and death by stoning for homosexuals and adulterers — that was instituted in the country of Brunei in early May.” 

Royal Dutch Shell gave a $500,000 gift for a lavish Brunei royal wedding in September 2004. The Sultan must have been short of readies. Many would view such a large sum as a bribe. The Sultan is worth an estimated $20 billion and lives in an 1,800-room palace.

ROYAL DUTCH SHELL PLANS TO REVIVE ARCTIC PLANS AFTER FIRST DEBACLE

Seeking Alpha reports that President Obama is closer than ever to imposing the first minimum standards for oil and gas activity in U.S. Arctic waters, as Royal Dutch Shell pursues permits that could allow it to resume drilling in the region next year. MORE

IRELAND – SHELL SPONSORSHIP BACKLASH

The Irish Times is still publishing articles about the “backlash” over Shell sponsorship of an Irish dance festival, which led to the organisers returning sponsorship funds to Shell. See “The ethical minefield of arts sponsorship” Shell has earned a bad reputation in Ireland as a result of the Shell led Corrib Gas Project, which is engulfed in controversy and scandal.

FRACKING

The Guardian has published an interesting article by Jeremy Leggett under the headline: “UK energy dependence – five hidden costs expose truth about tracking.” According to the article: “The shale boom is a bubble waiting to burst as economics of extraction falter and the trickle of bad environmental news starts to swell” MORE

CANADIAN OIL SANDS 

An article by Lauren Krugel, published by The Canadian Press claims  that “Some of the world’s costliest energy projects are in Alberta’s oilsands and some could be cancelled without higher oil prices, according to a new report by a London-based financial think-tank that focuses on climate risk. The study by the Carbon Tracker Initiative (CTI) highlighted 20 of the biggest projects around the world that need a minimum oil price of US$95 a barrel to be economically viable.”MORE

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Posted in: Alaska, Arctic, Beaufort Sea, Bribery, Brunei, Business Principles, Canada,Chukchi Sea, Corrib Gas Project, Corruption, Environment, Gas, GoogleNews, Human Rights, Ireland, Irish Times, John Donovan, Oil, Oil Sands, Royal Dutch Shell Plc, Shell,United States.
Tagged: Alaska · Arctic Ocean · Chukchi Sea · Corrib Gas Project · Ireland · Oil · Royal Dutch Shell Plc · Shell

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Tax Breaks for Big Oil = Climate Denial

Say NO to Fossil Fuel Subsidies! Dear friends, We knew the "All of the Above" energy strategy was bad, but it turns out it's even worse than we thought.  Over $21 billion of our federal and state tax dollars are being used to help the fossil fuel industry destroy our communities and our atmosphere. The really amazing part is it's getting worse.  Our new report shows that subsidies to fossil fuel production and exploration from the federal government have increased by 45% in the last five years. Yes, you read that right.  At a time when climate science is clear about the need to keep the vast majority of proven reserves of fossil fuels in the ground, Congress is using your money to find more.  Normally, they can't find money for, well, anything, but they apparently have no problem with giving Big Oil, Gas and Coal whatever they want. Really??! Although the Obama Administration strongly backs the All of the Above energy strategy, they have at least tried to eliminate some of the taxpayer giveaways to some of the world's richest companies.  Congress on the other hand hasn't been willing to bite the oily hand that funds it. Our new report is an depth investigation of this issue. At a time when we know we have to leave the vast majority of proven fossil fuel resources in the ground, this ongoing practice is nothing short of scandalous.  In fact, its climate denial. Demand action with us to stop this dangerous give away. The price of the All of the Above energy strategy is of course much much higher than just the waste of our tax dollars. For people like Kindra Arnesen, her husband, and their two children, those subsidies are actually funding an industry that has turned their lives upside down.  The BP Deepwater Horizon oil spill is still impacting these and others, and fossil fuel subsidies helped make that disaster possible.Read the Arnesens story here in our new feature: Subsidy Spotlight.  We'll be telling the stories of the people and places that these subsidies impact. Fossil fuel subsidies aren't just tax breaks and loopholes. Fossil fuel subsidies are incentives from our government to use our tax dollars to destory communities and imperil our entire planet. Their cost is not only in tax dollars, but also lives and environmental pollution.  Fossil fuel subsidies are climate denial, and they need to end. Please add your voice demanding an end to fossil fuel subsidies today.  And thank you. Peace, Steve Stephen Kretzmann Executive Director Oil Change International

League of Conservation Voters

August 15 at 12:00pm · 

Rep. Lloyd Doggett just penned a powerful op-ed demanding Texans take action on climate change. He and many Texans know just how dangerous climate change can be, so we’re glad to see him speaking out and taking action. Read more here: http://bit.ly/1uTANoZ

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Royal Dutch Shell News 16 August 2014

Roundup of Royal Dutch Shell News 16 August 2014

Aug 16th, 2014 

by John Donovan. 

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SHELL’S USA FIRE SALE

The New York Times reports that the Blackstone Group, a private equity company, is paying Royal Dutch Shell $1.2 billion for a stake comprising more than 107,000 net acres in Louisiana.MORE

A related article by BusinessReport.com features a quote from Marvin Odum, president of Royal Dutch Shell’s U.S. division, Shell Oil Company. Marvin said in a statement: “We are adding highly attractive exploration acreage, where we have impressive well results in the Utica, and divesting our more mature, Pinedale and Haynesville dry gas positions.” MORE

The same news story is also covered by RTT News: Vine, Blackstone Energy Partners To Buy Shell’s Haynesville Assets For $1.2 Bln

BIDNESS ETC, the innovative news based website founded by “a team of more than 100 financial wizards, musicians, rock stars, artists, singers, aspiring philosophers and tech geeks” reports that Rex Energy is paying Shell $120million for a 100% interest in Shell Western Exploration and Production Inc. in the Marcellus, Burkett and Utica shales in Pennsylvania and Ohio. MORE

The same new story is covered by Ohio.com: MORE

The disposals are also reported in a Reuters article which says “Shell, like many other global oil companies, is carrying out a broad cost-cutting drive aimed at boosting profits. Chief Executive Ben van Beurden is seeking to offload $15 billion-worth of assets by the end of 2015, including in North America.”

Also in the USA, a panel of three judges upheld a lower court’s dismissal of a contract suit against Shell Oil Co. by operators of its gas stations, saying a U.S. district judge had not abused his discretion in tossing the case after finding the plaintiffs deliberately destroyed evidence. MORE

SHELL’S AUSTRALIAN FIRE SALE 

Vitol completed its purchase of Shell’s downstream businesses.MORE 

RECENT ARTICLES PROVIDE AN OVERVIEW OF SHELL”S PERFORMANCE 

An article by Micheal Kaufman in BIDNESS ETC provides an overview on Shell’s performance this year, and analyzes if the company is on track to achieve targets set out at the start of the year: MORE

Seeking Alpha features an interesting related overview article by Ray Merola published under the headline: “New Shell CEO Takes Out The Trash.” It says: “First, van Beurden lost no time aiming to restructure parts of the business; first, focusing upon shoring Shell’s woeful performance in the North American energy fields, and second, divestiture of other weak assets.” 

According to citywire.co.uk, “Shell’s turnaround will continue to deliver”

A related Motley Fool article, in which concern is expressed about sanctions on Russia, asks: Is It Time To Sell Royal Dutch Shell Plc and BP plc?

SHELL’S WASHINGTON OIL-BY-RAIL PLAN 

Reuters reports that a Shell proposal to move by rail up to 60,000 barrels per day of North American crude to its Washington state refinery will not have to undergo a lengthy environmental review.MORE

SHELL ARCTIC DRILLING

The battle to stop Shell drilling in the Arctic is still in progress. Law360 says that environmentalists have asked a US court to revoke the Bureau of Safety and Environmental Enforcement’s approval of two Royal Dutch Shell PLC units’ spill response plans for exploratory oil drilling in the Arctic Ocean. The environmental group coalition is seeking to vacate the U.S. Department of the Interior bureau’s approval of Shell Gulf of Mexico Inc. and Shell Offshore Inc. spill response plans for drilling in the Chukchi and Beaufort seas… MORE

AUSTRALIA – PRELUDE FLOATING LIQUEFIED NATURAL GAS FACILITY 

UPI reports a part of the largest floating liquefied natural gas facility in the world is on the way to a South Korean shipyard. Shell said the turret module, part of the mooring system for the Prelude Floating Liquefied Natural Gas Facility, is on its way from Dubai to a shipyard in South Korea, where the entire FLNG is set for construction. MORE

SHELL NIGERIA

The Editorial Board of the New York Times has published an important article: Oil’s Devastating Legacy in Nigeria 

EXTRACT

“Three years after the United Nations Environment Program issued a comprehensive assessment of shocking levels of pollution in the oil-producing region of Ogoniland in Nigeria, little appears to have been done. The 2011 report said that it would take 30 years to repair the damage. Last week, Amnesty International joined other groups in issuing a damning follow-up by accusing the Nigerian government and the Shell Oil Company of essentially ignoring the entire problem.”

This Is Money reports that “Shell on brink of announcing multi-billion pound sale of four onshore oil blocks in Nigeria”

Extract

The sale of the four oilfields is expected to raise at least £2billion for SPDC, amid fierce competition for the assets. A separate source with knowledge of the bidding process said: ‘They [winning bidders] have paid massively over the odds.’

IGNORING CLIMATE CHANGE IS A RISKY BUSINESS

BreakingEnergy.com says that a report released in early July by The Carbon Tracker Initiative and Energy Transition Advisors suggests that up to $77 billion worth of Royal Dutch Shell’s investments in new fossil fuel projects could be stranded if new climate change policies are introduced, as some observers believe is inevitable. MORE

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Posted in: Africa, Alaska, Australia, Beaufort Sea, Ben van Beurden, BP, Chukchi Sea,Environment, Gas, Gas-to-liquids, GoogleNews, John Donovan, New York Times,Nigeria, Ogoniland, Oil, Oil Company Profits, Prelude FLNG Project, Reuters, Royal Dutch Shell Firesale, Royal Dutch Shell Plc, Russia, Shell, Ukraine, United States.
Tagged: Alaska · Arctic Ocean · BP · Gas · John Donovan · Oil · Royal Dutch Shell Plc ·Russia · Shell

The TRUTH will set you FREE.