One of the central planks in President Obama’s climate plan is a rule to ratchet up fuel economy standards through 2025. New US cars and light trucks are supposed to get better and better mileage with each passing year. At least, that was the dream. But now cheap oil is messing that up.
The oil industry cut investment spending by more than $100 billion last year and another round of major cuts this year is expected to hit the production outlook, the International Energy Agency’s chief economist said on Friday.
Ever hear the story about why renewable energy can’t compete without a subsidy? You hear it all the time from the fossil fuel industry. And the response from renewables? Take away fossil fuel subsidies, and they’d be glad to compete on level terms.
A Harvard economist known globally for his work on climate change policy sat in the Sacramento office of the oil industry’s lobbying firm recently, making the case that California is fighting global warming the wrong way.
Our planet’s preliminary February temperature data are in, and it’s now abundantly clear: Global warming is going into overdrive.
The combination of falling gas prices and the boomlet of higher-riding crossovers is forcing automakers to stop making certain passenger cars that don’t generate sufficient sales or profits to satisfy Wall Street or American consumers.
McClendon’s death comes a day after he was indicted by federal prosecutors on charges of conspiring, when CEO of Chesapeake Energy CHK +23.19%, to rig bids for oil and gas leases.
The U.S. government will open nearly 45 million acres in the Gulf of Mexico to oil and natural gas development later this month, at a time when low prices are forcing producers to cut back sharply on their exploration budgets.
Ritzy Beverly Hills’s famous oil well, which sits on the grounds of their high school and is bedecked in flowery art, has long been scheduled to stop extracting oil at the end of this year, with cleanup of the site supposed to begin as soon as possible, lasting about three months. But there are a couple kinks in the plan.
Southern California’s air quality board is moving to replace its top executive a month after Republicans gained a majority on the panel with new appointees who have vowed to make pollution regulations less burdensome for businesses.
