petro-oligarchy

COP27: progress on 'loss and damage,' not mitigation

The 27th UN Climate Change Conference (COP27) closed Nov. 20 with what was hailed as a breakthrough agreement to establish a "loss and damage" fund for vulnerable countries on the frontlines of climate disasters. Yet no action was taken to stop oil and gas expansion from fueling further disasters. India had pushed a proposal to extend to all fossil fuels the agreement to "phase down" coal reached last year at COP26 in Glasgow. A broad coalition of more than 80 countries took up the call, but host country Egypt, holding the presidency of the conference, was able to block the measure, acceding to powerful opponents prominently including Saudi Arabia and Russia. (ENS, NYT, Jurist, Climate Home News)

Swiss oil CEO faces trial for Sudan war crimes

The Supreme Court of Sweden on Nov. 10 ruled that the trial of Alex Schneiter, a Swiss citizen and former CEO of Lundin Oil charged in connection with war crimes in Sudan, may proceed in the Swedish courts. While Lundin Oil is a Swedish-based company, Schneiter claims that he cannot be tried in Sweden because he is neither a citizen nor a resident. This claim was rejected by the lower courts, and now by the high court. The Supreme Court held that Schneiter's alleged crimes are subject to "universal jurisdiction," which allows anyone to be prosecuted anywhere in the world for serious international crimes. Justice Johan Danelius concluded: "The fact that the defendant is not [resident] in Sweden does not constitute an obstacle to Swedish jurisdiction, provided that the connection to Sweden in other respects is sufficient." The criminal case will now proceed in the Stockholm District Court.

Podcast: climate change and the global struggle II

In Episode 147 of the CounterVortex podcast, Bill Weinberg notes the recent statement from the UN Environment Program that "only a root-and-branch transformation of our economies and societies can save us from accelerating climate disaster." Studies from similarly prestigious global bodies have raised the prospect of imminent human extinction. An International Energy Agency report released last year warned that new fossil fuel exploration needed to halt by 2022 in order to keep warming within the limits set by the 2015 Paris Agreement. Adoption of new technologies and emissions standards does mean that CO2 emissions from energy generation (at least) are likely to peak by 2025. But the IEA finds that this would still lead to global temperatures rising by 2.5 C above pre-industrial levels by century's end—exceeding the Paris Agreement limits, with catastrophic climate impacts. And the catastrophic impacts, already felt in places like (just for example) Chad and Cameroon, win but scarce media coverage. Climate-related conflict has already escalated to genocide in Darfur, and possibly in Syria. The oil companies, meanwhile, are constitutionally incapable of writing off the "stranded assets" of vast hydrocarbon investments. Climate protests in Europe—at oil terminals and car shows (as well as, less appropriately, museums)—do win some attention. But the ongoing resistance to still-expanding oil mega-projects in places like Uganda and Tanzania are comparatively invisible to the outside world. The dire warnings from the UN and IEA raise the imperative for a globalized resistance with an explicitly anti-capitalist politics. Listen on SoundCloud or via Patreon.

Pipeline plans threatened by Af-Pak border clashes

Afghanistan authorities say some 60 civilians, including five children, were killed as Pakistan launched air-strikes across the border on Khost and Kunar provinces April 15 and 16. The strikes, carried out by both missiles and warplanes, follow a series of attacks by the Tehreek-e-Taliban Pakistan (TTP) in Pakistan's borderlands, including an April 14 ambush on a military convoy in North Waziristan district in the volatile Khyber Pakhtunkhwa province.

Ukraine war windfall for US fracking industry

US President Joe Biden and European Commission president Ursula von der Leyen on March 25 announced a joint Task Force to reduce Europe's dependence on Russian hydrocarbons and "strengthen European energy security as President Putin wages his war of choice against Ukraine." The press release states: "The United States will work with international partners and strive to ensure additional LNG volumes for the EU market of at least 15 bcm [billion cubic meters] in 2022, with expected increases going forward." This means liquified natural gas from the US fracking industry.

Ukraine war portends new oil shock

Long-depressed oil prices are suddenly soaring in response to the Russian invasion of Ukraine, with impacts already being felt globally. Kazakhstan, recently wracked by internal instability, is facing economic crisis as its crude exports are threatened. Most of these exports pass through a pipeline linking Kazakhstan's western oil-fields to Russia's Black Sea terminal at Novorossiysk. That terminal, owned by the Caspian Pipeline Consortium (CPC), lies within 250 kilometers of the Ukrainian port of Mariupol, now besieged by Russian forces. This proximity is sufficient for tankers loading at the Novorossiysk terminal to incur a "war risk insurance premium." According to S&P Global Platts, the premium has been high enough to deter buyers since the Russian invasion of Ukraine was launched late last month.

Peru: police pop presidential palace in petro-corruption probe

On Feb. 14, special anti-corruption prosecutors backed up by National Police troops raided 15 properties around Peru's capital Lima—including the presidential palace. The raids came as part of Megaoperation Resplandor 2022, an investigation into alleged irregularities in tenders for the purchase of biodiesel between parastatal PetroPerú and the private firm Heaven Petroleum Operators. Also raided were the homes of PetroPerú director Hugo Ángel Cháves Arévalo, HPO manager Samir Abudayeh, and prominent entrepreneur Karelim López. (TeleSur, CNN, InfoBae, Biofuel Digest, El Linea) The administration of President Pedro Castillo, a populist political outsider who was elected last year, has been wracked by repeated crises and scandals since he took office in July.

Control of oil behind Mexico-Spain tensions

Mexico's President Andrés Manuel López Obrador on Feb. 9 called for a "pause" in relations with Spain, in a speech that explicitly invoked the legacy of colonialism going back to the Conquest. But the speech was clearly aimed principally at Spanish oil company Repsol, which had been favored during the presidential term of Felipe Calderón. Specifically, López Obrador questioned the granting of gas contracts in the Burgos Basin, in Mexico's northeast. He charged that Repsol operated the fields less productively than the state company Pemex had. "In the end, less gas was extracted than Pemex extracted" before the contracts, he charged.

Syndicate content