Remove tag oil
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How The Fracking Revolution Is Killing the U.S. Oil and Gas Industry

DeSmogBlog

oil and gas industry is having to deal with years of losses and falling asset values which has dealt the industry a serious financial blow. This is despite the fracking revolution delivering record oil and gas production for the past decade, peaking in 2019. Read time: 16 mins After over a decade of the much-hyped U.S.

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U.S. Public Facing Huge Bill to Clean Up After Oil and Gas Industry

DeSmogBlog

million unplugged oil and gas wells, according to Billion Dollar Orphans, a new report from London-based think tank Carbon Tracker. million undocumented orphan oil and gas wells. Tags: orphan wells abandoned oil wells Carbon orphaned well While this number is alarming, it does not even include an estimated 1.2

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The Bakken Boom Goes Bust With No Money to Clean up the Mess

DeSmogBlog

Read time: 12 mins More than a decade ago, fracking took off in the Bakken shale of North Dakota and Montana, but the oil rush that followed has resulted in major environmental damage , risky oil transportation without regulation , pipeline permitting issues, and failure to produce profits.

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Hurricane Laura’s Aftermath: Miles of Oil Sheen in Louisiana’s Wetlands

DeSmogBlog

Read time: 8 mins Almost a week after Hurricane Laura struck Louisiana's coast , which is studded with oil and gas industry pipes, tanks, wells, and rigs, I photographed from the sky oil sheen along at least 20 miles of marsh and bayous that absorbed the full strength of the storm.

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How U.S. Crude Oil Exports Are Hastening the Demise of the Oil Industry

DeSmogBlog

crude oil in December of 2015 to allow for exports beginning in 2016, the oil industry celebrated. oil industry — while also increasing the industry’s huge contribution to climate change. Tags: crude oil export ban fracking Read time: 12 mins When Congress lifted the export ban on U.S.

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Big Banks Pull Financing, Prepare To Seize Assets From Collapsing Oil and Gas Industry

DeSmogBlog

Read time: 6 mins The finances of the oil and gas industry are so dismal that the major banks that have funded the money-losing fracking boom are now exploring taking the unusual step of taking over the oil companies that can not afford to pay back the bank’s loans. Tags: fracking finance Big Banks

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Shell’s 'Delusional' Net Zero Strategy Commits $8 Billion to Fossil Fuels

DeSmogBlog

The oil major today revealed an “accelerated” strategy to reduce oil production and decarbonise its products by 2050. Tags: Royal Dutch Shell shell big oil end fossil fuels Read time: 4 mins Shell’s new net zero strategy is “grotesque” and includes an “impossible” reliance on tree-planting, campaigners have claimed.