Tag: crude oil

Is there any safe way to transport fossil fuels?

Crude oil transportation

Transporting oil and natural gas by rail has become a necessary part of business for large energy companies after President Obama rejected the Keystone XL Pipeline proposal. Railways are a convenient and cost effective alternative to a direct pipeline, but questions about safety and ability to monitor spills and accidents provide a new and different… Read More

ExxonMobil under increased scrutiny

Exxon gas station

New York’s attorney general, Eric Schneiderman, has launched an investigation into ExxonMobil to find out whether or not the company lied about the potential effects climate change has on both the environment and their finances.   Schneiderman’s investigation wants to know if Exxon took part in deceptive business practices and fraud. Exxon now has to… Read More

Powerful cartel faces potential schism: Can OPEC survive falling oil prices?

The Organization of the Petroleum Exporting Countries (OPEC) has dominated the global supply of oil since its inception in 1960. The 12 member countries combine for approximately 80 percent of the world’s crude oil reserves. The economies of these countries are incredibly oil dependent. The recent drop in global oil prices has caused dissension within… Read More

Once promising Nigerian economy falls on hard times

Nigerian president

JPMorgan Chase & Co. has announced that it will fully remove Nigeria from its local currency emerging markets bond index by the end of October. Nigeria is both Africa’s largest economy and largest country by population.   Analysts and economists alike were bullish on Nigeria’s development throughout the last decade. In that time span, Nigeria’s… Read More

The Santa Barbara oil spill: Just how bad is it?

Two boys struggle against oil slicked shores to reach a duck covered in crude oil

Many Californians feel an immense kinship with the Pacific Ocean. From agriculture, to summer recreation, to providing desalinated water in an attempt alleviate the drought, California’s connection and dependence on the ocean is undeniable. For this reason, we must take threats to the Pacific — such as the recent oil spill in Santa Barbara — seriously.… Read More