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Shell gets final clearance to begin drilling for oil in the Arctic

The Obama administration has granted final approval for Shell’s Arctic drilling programme, clearing the way for the company to restart its stuttering search for northern oil and drawing criticism from presidential hopeful Hilary Clinton. Shell has been waiting since the

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What the Iran nuclear deal means for oil prices

From an economic standpoint, one of the most significant aspects of US-Iran nuclear deal is that it could open up Iran’s vast crude oil reserves to the rest of the world. Once Europe and the US ease their sanctions, Iran

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BP set to pay largest environmental fine in US history for Gulf oil spill

BP has agreed to pay a record environmental fine of $18.7bn to settle legal actions brought by the US and several states over the fatal 2010 Gulf of Mexico oil spill. The US justice department, along with the states of Louisiana,

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Why the G7 is talking about decarbonisation

In just a few years, the aim of a carbon-free energy system has gone from the realms of green fantasy to become official policy in the world’s richest countries. Meeting on June 7th and 8th in Bavaria, the Group of

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Don’t look now, but oil prices are rising

Crude oil prices, which have rattled petrostates by plunging 60 percent from their summer 2014 highs, are suddenly leaping back up. Prices for benchmark crudes have jumped about 15 percent in the last week, and they continued to do so

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Why we hate the oil companies

Why we hate the oil companies: straight talk from an energy insider is a book written by John Hofmeister. As president of Shell Oil, John Hofmeister was known for being a straight shooter, willing to challenge his peers throughout the industry. Now, he’s a man

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Drilling California: a reality check on the Monterey shale

The recent growth in unconventional oil production from the Bakken (North Dakota), Eagle Ford (Texas) and other tight oil plays has drawn attention to the potential of shale in California’s Monterey Formation. In 2011, the Energy Information Administration (EIA) published a

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5 Reasons Oil Prices Are Dropping

As oil prices continue to fall, analysts and producers are trying to wrap their heads around the reasons and identify a floor price. Even though crude benchmarks like Brent and WTI keep dropping, the cost of finding oil continues to

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Fossil fuel subsidies growing despite concerns

Today most energy sources are subsidised, and none more so than fossil fuels. Indeed in straight numerical terms, subsidies for oil, coal and gas far outweigh those for renewables. According to the International Energy Agency (IEA), in 2012 global fossil

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