• 3 minutes Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 5 minutes CoV-19: China, WHO, myth vs fact
  • 8 minutes Question: Why are oil futures so low through 2020?
  • 11 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 8 hours “The era of cheap & abundant energy is long gone. Money supply & debt have grown faster than real economy. Debt saturation is now a real risk, requiring a global scale reset.”"We are now in new era of expensive unconventional energy
  • 25 mins Question - What if there are no buyers for Chevron's Appalachia Assets?
  • 9 hours Energy from thin air?
  • 25 mins Blowout videos
  • 14 hours OIL trades as if the virus is a 1 quarter event. As if it's Containable, Reversible and Temporary. Is it ?
  • 1 day Hey NYC - Mayor De Blasio declares you must say goodbye to fossil fuels. Get ready to freeze your Virtue Signaling butts off.
  • 3 hours Can LNG Kill Oil?
  • 1 day Fast-charging, long-running, bendy energy storage breakthrough
  • 1 day Foxconn cancelled the reopening of their mfg plants scheduled for tomorrow. Rescheduled to March 3rd. . . . if they're lucky.
  • 2 days "For the Public's Interest"
  • 16 hours Coronovairus, Phase One Agreement, Lower for Longer
  • 2 days Cheap natural gas is making it very hard to go green
The New ‘Must-Have’ For Energy Hedge Funds

The New ‘Must-Have’ For Energy Hedge Funds

Green investing is getting more…

Short Selling In Oil Slows After Initial Coronavirus Panic

Short Selling In Oil Slows After Initial Coronavirus Panic

Money managers continued to liquidate…

G7 Fails To Agree On Climate Strategy

G7

The energy czars of the G7 group of nations failed to reach agreement on a strategy to combat global warming, as the United States’ new leadership pedals doubts on the veracity of climate science that connects human activity to rising temperatures.

The ministers present at the meeting had been due to publish a joint statement at the end of the summit, but Carlo Calenda, the Italian minister for economic development, said the U.S. expressed reservations caused effort’s failure.

Italy currently presides over the G7 group, which also includes Canada, France, Germany, and Japan.

Calenda said the U.S. “reserved its position” regarding the text of any potential release, prompting him to advise against a disunited statement to the press. The U.S. had previously agreed to support poor countries that would suffer disproportionately from floods, droughts and rising sea levels.

The G7 countries made joint commitments to the international community during the United Nations’-led climate change talks in Paris in 2015. Since his inauguration in January, President Donald Trump has appointed Scott Pruitt, a vocal critic of anti-climate change efforts, to head the Environmental Protection Agency (EPA).

Trump campaigned on reviving the American coal industry, though new market data shows that the fossil fuel is losing market share to carbon-light oil and natural gas. With the recent reversal of an Obama-era national guideline to bring American cars to the 55 miles-per-gallon mark, experts say that the U.S. will almost certainly fail to meet its carbon reduction promises under the Paris agreement.

Related: Why Breakeven Prices Are Plunging Across The Oil Industry

Former ExxonMobil CEO turned Secretary of State Rex Tillerson has spoken on his support of the Paris agreement in the past. Last month, ConocoPhillips CEO Ryan Lance told reporters in Houston that “it would be good for the U.S. to stay in the climate agreement.”

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com



Join the discussion | Back to homepage


Leave a comment
  • Lee James on April 10 2017 said:
    The complexity of climate science (can anything be MORE complicated?) gives pause. However, there are enough indicators of what is going on in our oceans, polar regions and atmosphere to suggest that taking out an insurance policy is prudent.

    In general, I think we see how burning fossil fuel is becoming our least desirable pathway for the future. We need to transition away from burning fossil fuel in a careful, deliberate way. Price carbon pollution. Grow a broad range of alternative products and ways of doing things.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News