Reports coming out of Nigeria this morning are that the country’s President Goodluck Jonathan has sacked senior oil officials from the state oil company NNPC in the interests of “greater transparency and accountability.” Jonathan has come under intense pressure to clean up the country’s oil industry. We have known for a while that theft and...Continue reading 'Nigeria Loses $1 Billion a Month in Oil Theft'.
Contrary to what most people believe, oil supply capacity is growing at such an unprecedented level that it might soon outpace consumption. This could lead to overproduction and a steep dip in oil prices. That is the startling conclusion from Leonardo Maugeri, a former senior executive with Italian oil giant ENI, who is currently a...Continue reading 'Bye, Bye Peak Oil'.
The US House of Representatives voted on H.R.4480: the Strategic Energy Production Act earlier today. The vote passed 248-163. Once again, dirty energy money interests have prevailed. Those voting in favor of the measure have taken over $52 million from the oil, gas and coal industries since 1999, and almost $11 million in this Congress...Continue reading 'Dirty Energy Money Buys Yet Another House Vote: H.R.4480'.
Senators voted down a resolution aimed at gutting the EPA’s Mercury and Toxics Standards (MATS) for power plants this morning, 46-53. The 46 senators voting for this anti-science and anti-health resolution are awash in campaign contributions from the very companies that would have profited from its success. The average senator voting in favor of S.J....Continue reading 'Senators Supporting Inhofe’s Toxic Air Resolution Mired in Dirty Energy Money'.
Download the Report In this, our second review of progress in meeting this phase out commitment (an earlier review was published in November 2010), we reviewed formal submittals by member countries to the G20 and the WTO, reached out individually to staff from each member country, and reviewed third-party assessments of fossil fuel subsidies. We...Continue reading 'Report: Phasing Out Fossil-Fuel Subsidies in the G20: A Progress Update'.
Our latest report – produced for the Heinrich Boll Foundation in association with Vasudha Foundation (India), Greenovation Hub (China) and the Natural Resources Defense Council – provides updated estimates of global fossil fuel subsidies and overviews many of the issues surrounding subsidy removal. The figure for production and consumption subsidies is at least $775 billion...Continue reading 'Report – Low Hanging Fruit: Fossil Fuel Subsidies, Climate Finance, and Sustainable Development'.