In a satirical piece titled 'An Unserious Look at the Year Ahead' in the Wall Street Journal last week, Hugo Rifkind predicts the price of a barrel of oil will fall so low that people across the world would start buying oil for the barrel - and throw the oil out.
The sharp decline in world petroleum prices - hailed as a bonanza to millions of motorists in the United States - is threatening to undermine the fragile economies of several African countries dependent on oil for their sustained growth.
After months of whispered warnings, Russia’s economic troubles made global headlines when its currency collapsed halfway through December. Amid the tumbling price of oil, the ruble has fallen to record lows, bringing the country to its most serious economic crisis since the late 1990s.
While U.S. and Canadian officials delivered speeches about how the world needs to step up to their responsibilities at the U.N. climate negotiations in Lima, Peru, activists from North America demanded clear answers back home on their governments’ relationships with fossil fuel corporations, as well as the future of several major oil projects across the continent.
Even as the presence of major oil and gas corporations is nearly ubiquitous at the U.N. climate talks in the Peruvian capital known as COP20, fossil fuel divestment campaigns have gained ground in various countries and are moving to counter the influence of the "dirty energy" lobby here.
The world’s largest corporations continue to publicise scant information about their global operations, according to new analysis that warns that extractives companies in particular are unprepared for pending disclosure requirements.
“Greenhouse gas emissions from human activity are higher than ever, and we're seeing more and more extreme weather and climate events….We can't prevent a large scale disaster if we don't heed this kind of hard science.”
Recent discoveries of sizeable natural gas reserves and barrels of oil in a number of African countries — including Uganda, Tanzania and Kenya — have economists hopeful that the continent can boost and diversify its largely agriculture-based economy.
Lawmakers here are urging President Barack Obama to put transparency in the extractives sector at the centre of an upcoming trip to Myanmar.
Indigenous leaders are warning of increased violence in the fight to save their dwindling forests and ecosystems from extractive companies.
As the international community and the U.S. government place a heightened emphasis on reducing carbon emissions as a way to combat global climate change, shareholders have convinced the oil-and gas giant ExxonMobil to publicly disclose the risk that strengthened regulation could pose to its profits.
An unusual combination of industry, government, investors and civil society here is celebrating the United States’ initial acceptance into a prominent global initiative aimed at strengthening transparency and accountability in the extractives industry.
The demonstration took place on land and sea simultaneously. In the end, police had arrested three people, including Gary Aboud, president of the Trinidadian NGO Fishermen and Friends of the Sea (FFOS), but protesters were undaunted. They would be back.
"Oil tankers won´t get crude from this port until Tripoli finally meets our demands," says Younis, one of the Amazigh rebels today blocking one of Libya´s largest gas and crude oil plants.
With a key U.S.-Africa trade agreement up for renewal in 2015, advocates on all sides of the issue say current policies are rife with shortcomings that leave many African businesses out in the cold.