While Norway wants to wean its own citizens off fossil fuels, it remains one of the world’s biggest oil producers and is revving up production, almost all of it for export. So even as the country tries to cut emissions and clean up its own carbon ledger at home, it is effectively doing the opposite abroad.
The kingdom may have stretched its current limits by extracting a record of around 10.7 million bpd this year... one reason why Riyadh pushed so hard for a global deal to cut production. Riyadh... felt the burn of cheap oil this year...as the reality of its costly war in Yemen and the task of shaking up its economy to create thousands of jobs began to sink in. The government is trying to boost non-oil revenue and modernize the economy through an ambitious reform plan called "Vision 2030."
car companies -- most obviously Tesla, but also...General Motors... BMW... and Nissan... are putting their money, and reputations, behind electric vehicles ... With technology improving -- especially for batteries -- prices are falling. Tax breaks, particularly in China, are helping sales. ... In the next 25 years, gasoline consumption will drop 0.2 percent... While the number of passenger vehicles will double to 2 billion by 2040 ... the amount of oil we use for cars will be lower than today
In many nations, transportation fuels are as cheap as soda. Electricity rates are so discounted in the Persian Gulf states that some residents do not bother to turn down their air-conditioners while away on vacation. By some estimates, the consumption subsidies may be responsible for more than 10 percent of total global emissions of carbon dioxide, the leading greenhouse gas. They also contribute to traffic jams and air pollution in cities across the developing world.
The volume of oil being shipped by rail across most of the rest of the nation has plummeted, as low oil prices and more pipeline capacity have reduced the need for trains. The number of rail cars carrying petroleum is down about 40 percent from the peak in 2014 ... trains have continued to rumble through Oregon and Washington... the idea that the Northwest is now bearing a disproportionate burden of energy transport risk has accelerated local efforts to stop the trains or make them safer.
Spills of diluted bitumen or "dilbit" are more difficult to clean up than conventional crude oil and pose a significant environmental and safety hazard ... A 2015 study by the National Academies of Science found dilbit behaves like conventional oil in the first few days following a spill but then quickly degrades into a substance so chemically and physically different that it defies standard spill responses
By 2030, the number of Saudis over the age of 15 will likely increase by about six million, bringing at least 4.5 million new eligible workers into the labor force, ...That will more than double the size of the adult population, simultaneously stretching the kingdom’s cradle-to-grave system of handouts and subsidies to the breaking point...
This is an entirely man-made catastrophe. Venezuela, by all rights, should be rich ... it has more oil than the United States or Saudi Arabia or anyone else for that matter ... But despite that, economic mismanagement on a world-historical scale has barely left...the government is all but bankrupt ... the state itself is near collapse. Venezuela already has the world's second-highest murder rate ... It's a grim race between anarchy and civil war.
instead of across-the-board decline, Africa is witnessing a gradual shift in the continental balance of economic power — away from petrostates like Nigeria and Angola and toward less flashy but more diversified economies like Ethiopia and Tanzania. After decades of lavishing attention on the oil-powered economies of West Africa, investors are now flocking to the economies of East Africa, which have demonstrated their resilience to lower commodity prices
There has always been a general acknowledgement by everyday citizens that there is some degree of corruption ... Petrobras is a different kind of scandal ... part of the issue is scale ... it's also about who is involved in the corruption. Leaders of Brazil's largest state-owned company, its biggest construction firms, and political leaders from across the political spectrum have been fingered by prosecutors. It's a damning indictment of the entire elite class.