|Big Oil is under attack. Environmentalists point to the fact that the oil in the ground, if extracted and burned, would push Earth's temperatures well above the 2°C limit the IPCC says is safe. Even if this oil were allowed to be extracted, the cost of that extraction is rising, while oil prices remain flat. The EIA (a government unit) says in This Week in Petroleum:
At the rate things are going, Big Oil isn't going to be able to afford to keep Congress members on their bribe payout list much longer.
Wednesday, April 16, 2014
Big Oil's Sinking Fortunes
Posted by Unknown at 17:11