BP says that the total cost to the company for its 2010 Gulf of Mexico oil spill will be nearly $62 billion. That is nearly eight times the total annual budget of the US Environmental Protection Agency.
Iranian Billionaire Sentenced to Death on Corruption Charges
In America, corrupt billionaires get off too easy. A man was recently awarded a prestigious trophy for artistically making this exact point. Iran, it won’t surprise you to learn, swings the pendulum far in the opposite direction. Yesterday, the country announced that it plans to execute billionaire oil magnate Babak…
Obama To Finally Propose Taxing Oil by the Barrel
In a move that should have come decades earlier, the Obama administration proposed on Thursday a tax on every barrel of oil produced by companies in the U.S—$10 a pop.
A Barrel of Sex Lube Currently Costs 28 Times as Much as a Barrel of Oil
Introducing a powerful new economic indicator: the Lube Crude Index (LCI). Today, a 55-gallon barrel of Passion Natural Water-Based Lubricant, “the ultimate lube keg,” is purchasable for $1,175.82 on Amazon, with free shipping. Meanwhile, a standard barrel of crude oil costs $31.78. Today, the LCI is 28.25.
Venezuela Is So Fucked
Our nation has problems, and your nation has problems, but be thankful you don’t live in Venezuela, which is truly one of the most fucked places on earth.
Hey, Now Would Be a Great Time For a Carbon Tax
Wow, the price of oil is still low as hell. Oil company earnings are terrible. Consumer prices at the pump are super cheap. Oh, that remind me, you know what we could use right now?
We Have So Much Freakin Oil!
As recently as last year, oil cost close to $110 a barrel. Today, oil costs less than $37 a barrel. Why? There’s so much god damn oil!
Gasoline is now cheaper than milk. Stop using milk to fill up your cars—use gasoline instead.
Texas Oil Company Plans to Build an Entire Island Off the Alaskan Coast
A Texas oil company is moving forward with plans to build a gravel island that would serve as a platform for at least five extraction wells six miles off the Alaskan coast. According to the Associated Press, this would be the first petroleum production project in federal Arctic waters.
The Global Climate Outlook: Bad
Scientists have long said that we must try to limit global warming to two degrees Celsius or less if we want to preserve much of our way of life. According to new estimates, it’s not looking good.
Guess What Happens When an Oil Company Sponsors a Climate Change Exhibit
“Atmosphere: exploring climate change,” the London Science Museum’s exhibit on global warming, is principally sponsored by Shell. You’re asking yourself: Hmm, Shell—isn’t that the name of some trendy “green” startup? No, it’s the same old Shell that fills your gas tank and that was responsible for 76 million metric…
Would You Like to Die? Why Not Move to North Dakota?
North Dakota. The great expanse. Sounds romantic, in that sun setting over a bison grazing on the prairie, Americana sort of way. Great place to visit; not such a great place to work—North Dakota is also full of oil and gas that ain’t gonna extract itself.
Report: Hillary Overlooked Labor Violations After Millions in Donations
In 2011, then-Secretary of State Hillary Clinton publicly lauded a Colombian free trade agreement—the same deal she'd condemned as being bad for labor rights back in 2008. So why the change of heart? According to a report from the International business Times, it could be because the country's largest oil company was…
Saudi Arabia is bombing Yemen, which is sliding into civil war, and that is driving up the price of oil. Finally! We pray that in these uncertain times, our leaders—before they pursue the path of war—think of the oil traders, and pursue the path of war.
American Oil Workers Are on Strike
What with big news such as the Super Bowl and its advertisements, you may have missed the smaller news that large numbers of American oil workers have walked off the job. They have.
Bubble Watch: Junk Bonds Edition
The American economy is booming, for the most part! That means that it is constantly a good time to worry about which part of the economy will collapse first. Today: shitty bonds?
Now Is a Great Time to Lose Everything Betting on Oil Prices
Remember last week, when the price oil was plummeting, causing global shock waves? Yes well that is still happening, but more.
Oil Is So Cheap Now. So What?
While you slackers were all spending quality time with your families, the global oil markets were plummeting! This is good news, perhaps. Or maybe bad news? Let's explore how this will save—or possibly destroy—our world.
Attack Oil Pipeline Opponents, Advises Bad PR Firm
For controversial companies, the tactic of the moment is clear: attack! Attack! Attack your opponents, and smear them! The latest PR firm to offer this advice is Edelman, which advised an oil company client to attack the vicious, uh... community groups that oppose their plans.
Kill the Oil Companies Before They Kill Us
There is a new U.N. report on climate change. Its warnings are very, very dire. It is time that the public comes to terms with the choice we face: keep fossil fuels in the ground, or face doom. Oil companies, like it or not, must be forced to change or be killed.
