oil industry – Karma

As OPEC Eases Oil Cuts, Renewable Energy Investments Remain Steady

Neanda Salvaterra — Thu, 16 Jul 2020 10:00:00 +0000

As OPEC and external allies such as Russia move to ease steep cuts in production on the back of expectations of a fragile recovery in demand, the pace of investments into renewable energy is expected to continue, say analysts. The rise in the use of renewable energy is viewed by some ESG investors as key […]

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Oil and Gas Companies Remain Mum on How They Spent $2 Billion in COVID-19 Relief

Neanda Salvaterra — Thu, 09 Jul 2020 10:00:00 +0000

Major oil and gas companies have yet to disclose how they plan to spend $2 billion the industry received from the Coronavirus Aid, Relief and Economic Security Act. Sen. Sheldon Whitehouse has asked firms to disclose their plans amid concerns that funds will be used to increase pay for top executives and other non-COVID-19 related […]

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Oil Producers Continue to Slash Output Amid Anemic Demand

Neanda Salvaterra — Fri, 15 May 2020 10:00:00 +0000

The International Energy Agency eased its grim demand projections amid a gradual reopening of some economies. The oil market may be stabilizing as oil producers, including the U.S. cut back on their crude output. Global crude supply is set to fall to a nine-year low, says the agency potentially cementing carbon emissions reductions. The global […]

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Pandemic Creates Perfect Storm for Oil

Neanda Salvaterra — Mon, 04 May 2020 10:00:00 +0000

Due to the COVID-19 pandemic consumer demand for energy is expected to fall by the largest margin in 70 years, says the International Energy Agency. The oil glut in the market and low energy prices are causing energy companies to pull back on spending and checks to investors. The demand for renewable energy sources like […]

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Pipeline Companies May Move From Activists’ Crosshairs to ESG Investor Darlings

Margot Habiby — Thu, 06 Feb 2020 04:24:02 +0000

Oil and natural gas pipeline companies have long been a target for environmentalists’ ire — think of the Keystone battle, as well as protests from Ecuador to Nigeria. Those companies appear to have cleaned up their acts, according to a big Canadian bank, to the point that sustainability investors are taking a fresh look. Companies […]

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Fracking Investigated Following Surge of Rare Cancer Cases in Pennsylvania

Bruce Rule — Fri, 20 Dec 2019 18:08:06 +0000

Fracking, assailed for its environmental cost while its made the U.S. the world’s top oil producer, is being investigated as a possible cause in the surge of young people hit by a rare cancer in Pennsylvania. Pennsylvania is funding research into finding if there’s a link between fracking and rising cases of Ewing sarcoma in […]

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Former Exxon CEO Tillerson Denies Charges the Company Lied to Investors About Climate Risks

Mark Shenk — Wed, 30 Oct 2019 20:50:18 +0000

Rex Tillerson, Exxon Mobil’s former CEO and a one-time U.S. secretary of state, told a New York City courtroom that his former company didn’t lie to investors about the risks climate change posed to the firm, rejecting fraud charges levied by the state’s attorney general. Tillerson testified for 3 ½ hours in one of the […]

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Exxon Former Scientists Tell Congress Company Ignored Climate-Change Evidence as N.Y. Trial Starts

Margot Habiby — Thu, 24 Oct 2019 21:42:56 +0000

As ExxonMobil Corp.’s trial for misleading investors about climate-change risks unfolds in New York, two former scientists in Washington D.C. told a congressional subcommittee that the company decades ago chose to ignore evidence they turned up about the risks. Exxon worked to bury his research, Martin Hoffert, a former Exxon consultant and a professor emeritus […]

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Norway’s Dilemma: How Does This Green Nation Wean Itself From its Oil-Based Economy

Iain Morris — Fri, 18 Oct 2019 21:27:43 +0000

Key Takeaway: Pristine, green and progressive, Norway keeps its air clean thanks to hydropower and banning fossil fuels to heat buildings. But that hasn’t stopped the nation from exporting vast quantities of oil and gas around the world, and some say a reckoning is coming. Like the millions of tourists who flock there each year, […]

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In the Heart of the Oil Patch, Wind Takes Lead in Energy Production

Mark Shenk — Thu, 25 Jul 2019 18:27:09 +0000

Wind energy generation surpassed coal last month in Texas for the first time, thanks in part to cooperating weather and tax breaks that offered rewards for investing in renewable power. Wind energy was responsible for 22% of the energy has consumed so far this year in Texas, the biggest electricity consuming state and long known […]

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