Energy, Mining & Utilities
Last month, the Bush administration confirmed that it expected the government to waive about $7 billion in royalties over the next five years, even though the industry incentive was expressly conceived of for times when energy prices were low. And that number could quadruple to more than $28 billion if a lawsuit filed last week challenging one of the program's remaining restrictions proves successful.
Fishing communities in the Caribbean island of Trinidad are protesting a $US1.5 billion aluminum smelter that will process raw material from Brazil, Jamaica and Surinam. Cedros Peninsula United, a local organization, says that the factory uses technology that has had serious environmental impacts in countries from China to Iceland and the U.S.
Privatization has hit the water sector, which has remained mostly the bastion of public utilities. Over the last five years, hundreds of American communities, including Indianapolis, Milwaukee and Gary, Ind., have hired private companies to manage their waterworks, serving about one in 20 Americans.
WASHINGTON, Feb. 5 (UPI) -- As discussion about the looming war in Iraq intensifies in the wake of George Bush's State of the Union address, one item conspicuously absent from news bulletins and pundits' pontifications is the Kyoto protocol.
BP, the UK oil company, went on trial this week for the 2010 Deepwater Horizon drilling rig explosion in the Gulf of Mexico. The company could be fined up to $30 billion over the $25 billion it has promised if the court finds that it was "grossly negligent."
The Texas-based oil-services company Baker Hughes pled guilty on April 26 in a U.S. federal court to violating U.S. antibribery provisions, and agreed to pay a fine of $44 million.
Attorneys argued in federal court on Thursday over whether homeowners whose property fell victim to an oil spill from Hurricane Katrina can band together and sue Murphy Oil Corp in a class-action lawsuit.
U.S.-funded aerial spraying of coca plantations in Colombia near the Ecuador border has severely damaged the DNA of local residents, a new study has found.