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Russia has rerouted its oil exports away from Europe towards Asia. Suriyapong Thongsawang/Getty Images China's imports of Malaysian crude oil have soared to nearly 800,000 barrels per day, according to data compiled by Bloomberg. That's more oil than what Malaysia actually produces on its own, suggesting some crude arrived from other sources. The waters off […]
Enlarge / Scroby Sands offshore wind farm, Caister, Great Yarmouth, Norfolk, England. (credit: Photo by: Geography Photos/UIG via Getty Images) In November, a Danish asset management group called Momentum Gruppen recommissioned five turbines at a 20-year-old offshore wind farm located 4km (2.5 mi) off the coast of Sweden. Momentum purchased the wind farm and upgraded the […]
Enlarge / Humpback whales (credit: NOAA) On Friday, the National Marine Fisheries Service (NMFS) approved a plan to make it legal for five companies to conduct seismic testing off the Atlantic coast, in an area stretching from Delaware to Florida. The seismic testing is an initial step toward leasing federal offshore waters to oil companies that […]
Tax havens are used as an instrument to increase the profitability of US multinationals at the expense of the public, according to investigative economist and lawyer James Henry. He told RT that there’s a tiny group of the world’s elite professionals, banks, law firms, and accounting firms that make a nice living from the global […]
Enlarge / Oil platform in the Gulf of Mexico. There are nearly 5,000 functioning oil platforms in the Gulf of Mexico and 27,000 abandoned wells. (credit: Dave Walsh/VW Pics/UIG via Getty Images) This week, New Jersey’s attorney general sued the US Department of the Interior (DOI) for failing to comply with a Freedom of Information […]
Enlarge / Gode wind farm off the coast of Germany. (credit: Ørsted) One of the biggest offshore wind developers in Europe, a Danish company called Ørsted, purchased US offshore wind developer Deepwater Wind on Monday. The move suggests confidence in an expanding US offshore wind industry. There are more than 15 gigawatts (GW) of offshore […]
Enlarge / A simulated image of turbines in the distance out on Lake Erie. They are very tiny and in the middle left section of the horizon. Notably, this simulation is used to show that the turbines will hardly be a blight on Ohio’s beach views. (credit: Lake Erie Energy Development Corporation) An energy development […]
The largest offshore wind farm to date has officially opened off of the Cumbrian coast in the Irish Sea and it has the ability to power 590,000 homes. The 659-megawatt Walney Extension takes up an area roughly the size of 20,000 soccer pitches and is made of 87 wind turbines. “The UK is the global […]
Essam Al-Sudani/Reuters Oil prices seemed to have found a floor, and are poised to come back. The Asia-Pacific region looks especially attractive. Geopolitical risk bearing down on global oil markets is increasingly taking hold and weighing on oil prices as Saudi Arabia and Iran jockey for influence and position in the Middle East. These concerns escalated […]
Enlarge / Oil platform in the Gulf of Mexico. There are nearly 5,000 functioning oil platforms in the Gulf of Mexico, and 27,000 abandoned wells. (Photo by: Dave Walsh/VW Pics/UIG via Getty Images) (credit: Getty Images) Last week the Interior Department’s Royalty Policy Committee issued a recommendation suggesting that Interior Secretary Ryan Zinke lower royalty […]
