Tag Archives: Oil

Pandemic crushes Guyana’s dreams of big oil profits as ‘resource curse’ looms over oil-producing nations

Secretary of State Mike Pompeo with Guyana’s president, Mohamed Irfaan Ali, Sept. 18. Pompeo is the first U.S. secretary of state to visit the tiny South American country. AFP via Getty Images

Secretary of State Mike Pompeo with Guyana’s president, Mohamed Irfaan Ali, Sept. 18. Pompeo is the first U.S. secretary of state to visit the tiny South American country. AFP via Getty Images Amy Myers Jaffe, Tufts University This year was supposed to bring great things for Guyana. ExxonMobil discovered massive oil deposits off the South American country’s Caribbean coast in …

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It’s time for states that grew rich from oil, gas and coal to figure out what’s next

A surface coal mine in Gillette, Wyoming, photographed in 2008. Greg Goebel/Flickr, CC BY-SA

A surface coal mine in Gillette, Wyoming, photographed in 2008. Greg Goebel/Flickr, CC BY-SA Bradley Handler, Colorado School of Mines; Matt Henry, University of Wyoming, and Morgan Bazilian, Colorado School of Mines These are very challenging times for U.S. fossil fuel-producing states, such as Wyoming, Alaska and North Dakota. The COVID-19 economic downturn has reduced energy demand, with uncertain prospects …

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How the arms trade is used to secure access to oil

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shutterstock.com Vincenzo Bove, University of Warwick UK arms exports to Saudi Arabia increased by 175% in the first nine months of 2017 according to an investigation by the Campaign Against Arms Trade. Similarly, France and the US are major exporters of arms to the oil-rich Gulf state – in 2017 alone, they were worth around US$2.6 billion. Selling weapons is …

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Oil companies are thinking about a low-carbon future, but aren’t making big investments in it yet

Oil pump jacks in Williston, N.D. AP Photo/Eric Gay

Oil pump jacks in Williston, N.D. AP Photo/Eric Gay Lewis Fulton, University of California, Davis and Daniel Sperling, University of California, Davis The global oil industry stands at a crossroads. Corporate leaders are weighing how closely to stay wedded to their legacy business – finding, extracting and refining fossil energy – versus preparing for an uncertain low-carbon future. There are …

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How Saudi-Iranian oil rivalry has been shaped by American power

Shaybah oilfield in Rub Al-Khali, Saudi Arabia. Valdrin Xhemaj/EPA

Sukru Cildir, Lancaster University The relationship between Saudi Arabia and Iran, both oil-rich states in the Middle East, has oscillated from co-operation to conflict throughout history. Alongside a range of factors that shape their rivalry including sectarianism and nationalism has been the politics of oil. Oil is a strategic international commodity, and its use as a political tool is widespread. …

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