This week in the Oilprice.com Top 5 energy stories, a new report
suggests that global warming “stopped” over a decade and a half ago,
Texans gear up for an Energy Alamo, Iran allegedly plans a disastrous
oil spill in the Persian Gulf, Canadians offer China a resounding “hello
no!”, and we examine “The Myth of Affordable Energy” with economist Ed
Dolan.
Texans Recall Alamo in Fight with Big Oil
Texans command respect—and it may take another Alamo to make that clear as TransCanada (TRP) goes on a land-grabbing spree to build their pipelines and Texas ranchers step up their game to put an end to bullying tactics. While Texans have always been happy to host Big Oil’s pipelines, this Canadian giant is overstepping its bounds, usurping property by having it condemned in US courts for the “common good”. As far as Texans are concerned, this stretch of the Keystone XL pipeline won’t go ahead on these terms. To prove their point, they are opening the gates to activists and daring Big Oil and federal government to challenge their rights.
Iran Threatens Oil Spill in Persian Gulf
Iran's latest effort to disrupt key shipping lanes through the Strait of Hormuz may be designed to cause a massive oil spill in an alleged operation code-named “Murky Water”. According to unnamed Western intelligence sources cited by a German magazine, such a spill would be undertaken by the Iranian Revolutionary Guards wrecking an oil tanker in the Strait of Hormuz, forcing the closure of this key oil shipping route. The clincher is this: A major international oil spill would necessitate lifting the embargo on Iranian oil shipments.
It wouldn’t be the first time such a tactic was tried: Saddam Hussein attempted it during the first Gulf War as a strategy to deter a US invasion. Saddam dumped 5.7 million barrels of oil in the Persian Gulf.
Read more: http://oilprice.com/Energy/Energy-General/Oilprice.com-The-Week-in-Review-19102012.html
Texans Recall Alamo in Fight with Big Oil
Texans command respect—and it may take another Alamo to make that clear as TransCanada (TRP) goes on a land-grabbing spree to build their pipelines and Texas ranchers step up their game to put an end to bullying tactics. While Texans have always been happy to host Big Oil’s pipelines, this Canadian giant is overstepping its bounds, usurping property by having it condemned in US courts for the “common good”. As far as Texans are concerned, this stretch of the Keystone XL pipeline won’t go ahead on these terms. To prove their point, they are opening the gates to activists and daring Big Oil and federal government to challenge their rights.
Iran Threatens Oil Spill in Persian Gulf
Iran's latest effort to disrupt key shipping lanes through the Strait of Hormuz may be designed to cause a massive oil spill in an alleged operation code-named “Murky Water”. According to unnamed Western intelligence sources cited by a German magazine, such a spill would be undertaken by the Iranian Revolutionary Guards wrecking an oil tanker in the Strait of Hormuz, forcing the closure of this key oil shipping route. The clincher is this: A major international oil spill would necessitate lifting the embargo on Iranian oil shipments.
It wouldn’t be the first time such a tactic was tried: Saddam Hussein attempted it during the first Gulf War as a strategy to deter a US invasion. Saddam dumped 5.7 million barrels of oil in the Persian Gulf.
Read more: http://oilprice.com/Energy/Energy-General/Oilprice.com-The-Week-in-Review-19102012.html
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