We may have already passed peak demand for oil. This suggestion comes from an unlikely source: fossil-fuel giant BP. The company released its annual Energy Outlook report Monday, and found that oil demand may have already peaked in 2019, as the rise in renewable energy intersects with the impact of the coronavirus pandemic, The Guardian […]
The Japanese cargo ship that hit a coral reef near Mauritius and spilled thousands of metric tons of fuel into the island nation’s turquoise waters split in two over the weekend, The Guardian reported. “At around 4.30 p.m., a major detachment of the vessel’s forward section was observed,” the Mauritius National Crisis Committee said in […]
By Loveday Wright and Stuart Braun After a Japanese-owned oil tanker struck a reef off Mauritius on July 25, a prolonged period of inaction is threatening to become an ecological disaster. Carrying nearly 4,000 metric tons of fuel oil, the tanker ran aground near Pointe d’Esny on the island in the Indian Ocean. “Local authorities […]
The Indian Ocean island of Mauritius, renowned for its coral reefs, is facing an unprecedented ecological catastrophe after a tanker ran aground offshore and began leaking oil. The 984-foot MV Wakashio ran aground on July 25 and began to break up due to rough waters, The Guardian reported. It contained about 220.5 tons of diesel […]
By Jun N. Aguirre An oil spill on July 3 threatens a mangrove forest on the Philippine island of Guimaras, an area only just recovering from the country’s largest spill in 2006. This latest spill stems from an explosion onboard a floating power barge in the 13-kilometer (8-mile) waterway between the city of Iloilo and […]
Corporations that flouted environmental regulations and spewed pollutants into the air and dumped them into waterways will not be required to pay the fines they agreed to during the pandemic, according to The Guardian. The forbearance of payments totals million from ten corporations for a variety of violations across the country, including polluting air and […]
Two top administration officials, at the direction of President Trump, helped the Federal Reserve alter its lending program intended to bail out small businesses specifically to aid mid-size oil companies, Energy Secretary Dan Brouillette told Bloomberg TV this week. “Secretary Mnuchin worked very closely with the Federal Reserve … and made that program available to […]
By Jeremy Deaton, video by Bart Vandever The 2010 BP oil spill dumped more than 200 million gallons of crude oil into the Gulf of Mexico, where it killed billions of fish. Had things gone as planned, that oil would have fueled cars and trucks, worsening climate change, which is going to kill billions of […]
Oil prices turned negative for the first time in history Monday as energy demand plummets in the wake of the coronavirus pandemic. The dramatic price drop, from to around negative for the lead U.S. oil benchmark, was caused because more oil is being produced than can be stored, so buyers had to pay traders to […]
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