Energy, Mining & Utilities
BP says that the offshore drilling accident that is spewing thousands of barrels of oil a day into the Gulf of Mexico could cost the company several hundred million dollars. Nobody really knows whether the oil giant is being too conservative about the cost for the April 20 accident, which some experts say could end up as the biggest oil spill in history.
Near the town of La Jagua, overlooking the Magdalena River, the landscape is dotted with concrete markers declaring the land, river, and everything else a "public utility" that Colombia has given to the energy company Emgesa as part of the Quimbo Hydroelectric Project. A construction permit was granted in May, with the dam scheduled for full operation by 2014.
Halliburton, the Texas company which has been awarded the Pentagon's contract to put out potential oil-field fires in Iraq and which is bidding for postwar construction contracts, is still making annual payments to its former chief executive, the vice-president Dick Cheney.
President George W. Bush did an abrupt about face Tuesday, reversing a previous pledge to legislate limits on carbon dioxide emissions from U.S. power plants. Bush said such a rule would prove too costly, launching another in a slew of recent federal and state government attempts to roll back environmental protections in favor of controlling energy prices.
Ten of the world's most powerful oil, gas and mining companies own a staggering 6,038 subsidiaries with over a third located in 'secrecy jurisdictions'.
A Kazakh oil consortium has been accused of "mass poisoning" after 25 school children and four teachers passed out almost simultaneously at a school in Berezovka village in northwest Kazakhstan. The incident is the latest in a decade of allegations of pollution caused by the neighboring Karachaganak oil field.
The Rev. Jesse Jackson brought his protest of BP PLC to the site of one of the state's worst refinery accidents Tuesday to speak against what he calls price gouging, discriminatory hiring practices and unsafe working conditions at the company.