The oil industry fights back by Susan Grimsdell

The oil industry’s in trouble.  Consumption of fossil fuels is dropping because of travel bans all over the world and because of public recognition that climate change is a reality.  The writing’s on the wall for oil-based fuels. The counter attack The industry isn’t defeated however.  They’ve seen a brilliant solution to their plunging revenue – plastic.  They are building 350 new plastics plants in Appalachia, a very poor area that has lost its main industry – coal.  These plants turn fracked natural gas into plastic bottles, bags, straws, cups, all the… Read More

To Frack or not to Frack by Angela Caldin

Giddy Gideon backs Fracking I heard George Osborne’s honeyed tones on the news this weekend announcing big tax breaks for the fracking industry with the aim of kicking off a shale gas revolution in the UK.  The Treasury has set a 30% tax rate for onshore shale gas production. That compares with a top rate of 62% on new North Sea oil operations and up to 81% for older offshore fields. Some say this is needed to improve Britain’s energy security but others say it will greatly increase carbon emissions. A day… Read More