MenuAngola, the world’s 17th largest oil producer and the second largest producer in Africa after Nigeria, has left the organization following a lengthy disagreement over quotas. Only a few hours after this announcement, crude oil prices dropped by over a dollar as markets anticipated Angola’s state-owned oil company, Sonangol, to increase production. Angola now joins
Monthly Archives: February 2024
Back To Nature At COP28: Restoration Strategies To Combat Climate Change
COP 28 was a roller coaster for environmentalists. Going into the conference, despite tensions, breakthrough climate agreements between the U.S. and China gave the forum a sense of hope – if geopolitical rivals could unite behind going green, perhaps the future would be bright after all. However, a lack of real progress on Article 6
The Overlooked National Innovators At COP28
COP28, the United Nations climate change conference, has convened under an atmosphere of scandal. The conference, aimed at curbing manmade climate change, has been marred by controversies. Hosted by the UAE, the conference raised eyebrows by dismissing the necessity of eventually transitioning away from fossil fuels while it simultaneously sought oil deals with multiple nations
Venezuela Vs Guyana: The Battle For El Essequibo’s Oil
In a pivotal development, intentionally timed between concurrent crises in Ukraine and Israel to avoid the international spotlight, Venezuela’s National Assembly (noted for its non-transparent anti-democratic character) has given the green light for a national referendum in early December to determine the status of the Essequibo territory. The only problem – Essequibo is not a
Israel-Azerbaijan Energy Deal Strengthens Strategic Partnership
In the aftermath of the October 7 Hamas mega-terrorist attack on Israel and the ensuing Gaza war, which jeopardizes the Abraham Accords, a groundbreaking energy deal between Azerbaijan, a secular Shia-Muslim majority nation, and Israel just took place. Azerbaijan’s state-owned SOCAR company will explore the area in the Mediterranean north of the giant Leviathan field.
Russia Uses New Arctic LNG To Dodge Energy Sanctions
Vladimir Nekrasov, a prominent executive in Russia’s energy sector who criticized Putin, has had a tragic accident. These unavoidable twists of fate mean that up to 40 of the top managers in Russian energy have died since the war in Ukraine began. Coincidentally, they all commonly express skepticism towards Russia’s energy strategy, its funding streams,
Undersea Strategic Minerals Mining : Huge Upside, Environmental Peril
Environmental advocates made an impassioned plea to the UN for a novel request: a moratorium on deep-sea mining. This call comes amid both forthcoming international meetings on the subject scheduled for 2024 and the rapid, albeit quiet, explosion of interest in deep-sea mining. Once a topic for science fiction, the International Seabed Authority (ISA) has
War In Israel Will Not Damage Oil Markets Unless Iran Wants It To
Oil prices surged on Monday as fears of a broader war in the Middle East panicked investors. Worries about an escalation that could’ve affected oil-producing Middle Eastern countries caused a 4% rise in Brent Crude oil prices to $88 per barrel. After the heinous terrorist attacks in Israel committed by Hamas, which have thus far
Germany’s Infrastructure Spending Spree Won’t Solve Its Energy Problems
In one of the most important energy deals in its history, Germany is purchasing its single largest power grid thus far. It plans to acquire Dutch state-owned operator TenneT Holding BV for $20 billion Euros. In doing so, it hopes that this will help it realize its goal of 100% renewable energy by 2045 through
Earth’s Greener Cities: The Next Frontier Of Geoengineering
In the quest to go green, geoengineering has long been an attractive idea at the periphery of climate policy discussion. The tempting notion of engineering humanity’s way out of a putative environmental catastrophe using the same tools that helped generate our global climate crisis, is attractive to many. These proposals also often conveniently sidestep notions