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Oil and Gas Companies Continue to Lead on Getting Government Handouts

Oil and Gas Companies Continue to Lead on Getting Government Handouts

Oil and gas companies continue to pump the government for cash.  Bloomberg Law News reported that the Administration has granted 76 royalty waivers to oil and gas companies who are drilling for oil on federal land in Utah — lowering the rates from 12.5% to as low as 2.5%. 

Why This Matters:  The giveaways to oil and gas companies in the name of saving jobs just keep coming.

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Three States Outlaw Pipeline Protests, As Pipeline Operators Request Production Slow Down

Three States Outlaw Pipeline Protests, As Pipeline Operators Request Production Slow Down

Bloomberg News reported last week that U.S. pipeline operators are requesting oil producers to cut back on production — a “clear sign” that the oil market is reaching a breaking point when the amount of crude oil is at capacity in storage tanks and pipelines due to the oil glut caused by the global price war. Meanwhile, the Governors of Kentucky, West Virginia and South Dakota recently signed laws effectively making it a crime to protest a pipeline — imposing stiff fines and penalties for anyone causing “damage, destruction, vandalization, defacing or tampering” to pipelines because they are deemed to be “critical infrastructure.”

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Saudi Oil Field Explosion Causes Oil Prices to Surge

On Saturday, a Houthi rebel attack on a prominent Saudi oil field caused global oil prices to surge. As CNN reported “Several projectiles struck the Abqaiq plant, starting a series of fires that quickly took out nearly half Saudi’s oil production — 5% of the global daily output — and sparking fears about the security […]

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Tackling climate change means properly pricing fossil fuels

Tackling climate change means properly pricing fossil fuels

We often hear that fossil fuels are heavily subsidized but by how much exactly? As Vox recently reported,” the International Monetary Fund (IMF) periodically assesses global subsidies for fossil fuels as part of its work on climate, and it found in a recent working paper that the fossil fuel industry got a whopping $5.2 trillion […]

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Houston petrochem fire spews millions of pounds of pollutants into the air

Houston petrochem fire spews millions of pounds of pollutants into the air

A fire that erupted Sunday afternoon at the Intercontinental Terminals Company’s (ITC) petrochemical facility in Houston, TX is still burning and isn’t expected to be extinguished for two more days. As Grist reported yesterday, self-reported emissions data posted on the Texas Commission on Environmental Quality’s website showed that the blaze had sent more than 9 […]

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