Five weeks into the oil leak caused by an explosion at a BP oil rig in the Gulf of Mexico, and a number of unsuccessful attempts at plugging the holes in the pipework later, BP’s latest solution, ‘top kill’, has managed to stop the flow of oil and natural gas.
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Even the most environmentally minded among us often have to frequently rely on four wheel car transportation to get us from A to B so finding a low carbon emitting car, whether it’s a family car or a commuter vehicle, is important. Stop-start technology, which is also known as micro-hybrid technology, is tipped to become a standard component in vehicles and would be responsible for considerable carbon emission reductions.
In potentially the first case of it’s kind, RBS and the Treasury could face court action for investing in carbon-intensive industries including coal, oil and gas as well as environmentally destructive mining.
Former President and Chief Executive Officer of Saudi Arabian Oil Company, Saudi Aramco, Mr Abdallah S. Jum’ah was the speaker at a Royal Academy of Engineering lecture and dinner on 17th June, which set out to discuss the issue of technology being the key to the sustainability of future energy generation.
Dean Cannon, state representative for Florida and set to take up the position of speaker in the House of Representatives in 2010, is arguing strongly for Florida to take advantage of oil and gas reserves off the coast of Florida, despite residents’ concerns about the potential environmental impact this could have for the states’ beaches.
Following the decision to make safety a number one priority, oil company BP are the subject of much speculation about whether this means the end of their investment in green technology and renewables.
A recent press release published by Shell stated that renewables would no longer receive investment from the oil giant and that, instead, the company would focus solely on oil, gas and bio-fuels. The press release went on to say that renewables could not compete with other opportunities in their portfolio.
Shell could be shooting itself in the foot by not investing in renewables for the future of energy production. It is well known that Esso tried to keep climate change low on the government agenda, but some of Shell’s other competitors, such as BP are investing more aggressively in the renewables market, helping to secure the future of the world’s energy.
Between 1996-2006, Shell is said to have invested $1.25 billion into renewable energy schemes, much of which was wind power. To see that figure drop to zero is a huge blow to the future of energy. As Shell will no longer be spending this money in the wind, solar and hydro-electric sectors, the company will likely be focusing on Canadian tar sands as a source of future oil. This would be a devastating blow for the environment as it is one of the most polluting forms of fossil fuel and requires huge amounts of energy to extract and purify.
It seems that for all Shell has done to try and convince the public that they are not just an oil company but an ‘energy’ company, the money is much more important to them.