Monday , October 23 2017
Home / 2017 / August

Monthly Archives: August 2017

Arctic oil doesn’t exist

Arctic oil rig

The supposed silver lining in the large storm cloud that is global ice melt, was that in the absence of the Arctic ice cap, oil companies would be free to drill into virgin seabed. Nowhere was this more so than the Barents Sea above Norway’s North Cape, which was promoted …

Read More »

More than a flood disaster

Flooded oil installations

While most of the world’s media were focused on the impact of more than a metre of rain pouring down on Houston, Texas, the financial journalists had other matters on their minds.  In particular, as Harvey approached, the consensus seemed to be that the one silver lining was the inevitable …

Read More »

Harvey’s double irony

Texas flooding

Given their almost instinctive enmity toward all things Trump, it is hardly surprising that BBC news programmes have drawn the link between a climate change denying administration and catastrophic coastal flooding of precisely the kind that climate scientists have been warning about for decades. In addition to pulling the USA …

Read More »

UK faces years of depression

Economic stagnation

The apparent resilience of the UK economy in the face of last year’s Brexit vote has confounded economists and pundits.  The Remain Campaign’s dire ‘project fear’ predictions simply failed to materialise.  The sharp fall in the stock market – more a reaction to the surprise result than to its economic …

Read More »

Neoliberal training policy comes home to roost

Unemployed

The impact of migration on jobs is believed to lie at the heart of last year’s Brexit vote.  Free movement of people, it was argued, was responsible for depriving indigenous workers of the employment they need.  Halting free movement, then, was supposed to result in more and better jobs for …

Read More »

When the party comes to an end

Empty bottles at the end of the night

  Nicole Foss famously compared the oil industry to a late night drinking binge.  The early oil found in pressurised deposits just 70 feet beneath the ground was the best booze.  The North Sea was the cheap stuff.  Hydraulically fractured shale oil and tar sands, though, are the last-ditch equivalent …

Read More »

Trump’s wall won’t stop the next refugee crisis

America's climate refugees

Trump’s border wall – if it ever gets built – will not stop the next mass migration of people from swamping the USA according to a special report by Matt Zdun for CNBC: “Increasingly, the phenomenon of rising sea levels has amplified fears over climate refugees — individuals forced to …

Read More »

Electric cars: more disruptive than we bargained for

Electric car chassis

The UK is the latest in a growing list of countries to announce bans on petroleum vehicles.  This has led to understandable concerns about the ability of national electricity grids to cope with the massive demand for additional electricity that such a ban implies.  The thinking appears to be that …

Read More »

The ‘shale revolution’ ends with a bang

Fracking explosion

As British frackers struggle to drill a handful of test wells, the US ‘shale revolution’ on which their efforts are predicated looks to be coming to an end. The reasons for its demise will send shivers through UK investors as they realise that it has nothing to do with the …

Read More »