Energy, Mining & Utilities
Today, the Union of Concerned Scientists released "Drilling in Detroit," an analysis conducted jointly with the Center for Auto Safety. The study finds that US automakers could produce a fleet of cars and trucks that get an average of 40 miles per gallon by 2012, and 55 mpg by 2020 (up from the current 24 mpg average), with no diminution of safety and performance. This increased fuel efficiency would save consumers billions of dollars each year, cut 273 million tons of annual GHG emissions by 2010 and 888 million tons by 2020, and create tens of thousands of new jobs in the auto industry.
Two senior Tanzanian officials were arrested after they failed to produce details of 26 multi-billion dollar agreements signed with Statoil of Norway; the BG Group and Ophir from the UK; and ExxonMobil from the U.S. Opposition politicians want assurances that the money will be spent in a transparent manner.
The new sentence a federal judge imposes on a former Dynegy Inc. executive could provide some insight into how he'll approach the October sentencings of Enron Corp. founder Kenneth Lay and former Chief Executive Jeffrey Skilling.
This great, largely untapped treasure is pitting a leftist government aiming to use oil revenue for social programs against multinational corporations like Chevron, which were invited here a decade ago to develop the Orinoco Belt, a 54-square-mile area some 120 miles south of here.
The launch of Russia's stock markets in the early 90s and privatization of state assets has profoundly impacted Russian society. As the case of mining giant Norilsk Nickel illustrates, this experiment has given rise to both immense personal wealth for a new elite, and economic uncertainty for the ordinary citizen.
In the mile-high mountains of the Sonora desert, just 25 miles south of the border between Arizona and Mexico, over two thousand miners have been locked in a bitter industrial war since mid-November. Here Grupo Mexico operates North America's oldest, and one of the world's largest copper mines -- Cananea -- in a town which has been a symbol of anti-government insurrection for almost 100 years.
The Amsterdam-based environmentalist group announced the purchase of $240,000 worth of Royal Dutch/Shell Group equity to try to pressure the Anglo-Dutch energy conglomerate to build a huge solar panel production plant.