Shell Knew, Too: Investigation Reveals Big Oil Co.’s Decades-Long Climate Lies

by Nadia Prupis, staff writer

Common Dreams | 28 February, 2017

“Our energy consuming way of life may be causing climatic changes with adverse consequences for us all,” the video states. (Photo: FraserElliot/flickr/cc)

Oil giant Shell also knew of the dangers of climate change decades ago, while it continued to lobby against climate legislation and push for fossil fuel development, a joint investigation by the Guardian and the Dutch newspaper The Correspondent revealed Tuesday.

Shell created a confidential report in 1986 which found that the changes brought about by global warming could be “the greatest in recorded history,” and warned of an impact “on the human environment, future living standards, and food supplies, [that] could have major social, economic, and political consequences.”

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In Oil-Soaked Niger Delta, ‘Avengers’ Bombing Pipelines in Struggle for Compensation

by Andrea Germanos

Common Dreams | 27 May, 2016

 

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Photo from 2010 shows damage following oil disaster in of Niger Delta. (Photo: Sosialistisk Ungdom (SU)/flickr/cc)

 

In the oil-rich Niger delta, where communities suffer “enormous” effects from decades of spills, a militant group claiming responsibility for a spate of attacks on oil infrastructure now appears to have the backing of some community members.Read More »

Gulf oil states could lose more than $500bn in 2016, predicts IMF

A Journal of People report

After losing $390 billion in revenue due to weak crude in 2015, oil exporting countries in the Middle East could lose from $490 billion to $540 billion this year, predicts the International Monetary Fund.

According to the IMF, countries heavily dependent on crude like Saudi Arabia will have the biggest budget deficits. Saudi Arabia is trying to diversify its economy. But oil still accounts for 72 percent of its revenue. This will result in about a $90 billion budget hole.Read More »

Oil industry in “a full-scale crisis”, says an oil-CEO

A Journal of People report

Oil price is making storms in politics of many countries. Serious questions are emerging concerning the commodity – oil. As a result, more incidents will emerge in geopolitics. Oil prices have plummeted as there is oversupply in the world oil market. Many companies are facing mountains of debt and loads of expenses. Profits are going down also. There is the question: What is happening to the oil industry?Read More »

Oil’s rough ride impacts geopolitically while Saudi oil war goes on

A Journal of People report

Oil is having a rough ride that impacts geopolitics. The International Energy Agency said Tuesday its core expectation is for oil prices to return to $80 a barrel by 2020. However, Again Capital partner John Kilduff said possible scenarios outlined by the Paris-based organization raise geopolitical concerns. It’s particularly concerning as there is Saudi Arabia’s oil war against US shale and other low-cost oil producers. There is possibility that the U.S., EU, China and India have to rely ever more on a smaller group of low-cost producers in the Middle East at a scale not seen since the 1970s. Read More »