Energy

What You Need to Know about the Latest Oil Trading Scandal

by Oilprice.com •  • Comments Off on What You Need to Know about the Latest Oil Trading Scandal

Dan Dicker, Oil & Energy Insider: Manipulations and fraud in the capital and commodity markets: Now four traders from my old home, the NYMEX, are suing BP, Shell, Statoil, and Vitol Group for collusion and manipulating Brent oil trades to fix reported prices.

Japan’s Most Hated Outfit, TEPCO, Reports Fat Profit (From Taxpayer Bailout Money)

by Wolf Richter •  • Comments Off on Japan’s Most Hated Outfit, TEPCO, Reports Fat Profit (From Taxpayer Bailout Money)

TEPCO, the bailed-out owner of the Fukushima nuclear plant, famous for its lackadaisical handling of the fiasco and its parsimonious delivery of information, reported earnings today. It was a doozie! And a glimpse into what’s in store for Japanese taxpayers.

Is the Giant Siberian Oilfield to be Developed by Russia and China Radioactive?

by Oilprice.com •  • Comments Off on Is the Giant Siberian Oilfield to be Developed by Russia and China Radioactive?

By Joao Peixe of Oilprice.com: The deal between Rosneft and China National Petroleum Corp to jointly develop a giant oilfield in Siberia may be tainted. I’m not talking about corruption or illegal activities, but rather the potential that the oil and gas in the field may be contaminated with radioactive materials from nuclear explosions.

China’s Back-Door Natural Gas Supply

by Contributor •  • Comments Off on China’s Back-Door Natural Gas Supply

By Dave Forest, OilPrice.com: One of the most critical changes in global energy flows we’ve seen for years happened this week.

Ukraine & Turkey: The European Energy Coup

by Oilprice.com •  • Comments Off on Ukraine & Turkey: The European Energy Coup

By Analysts of Oil & Energy Insider: The Ukraine controls the transit of 90% of Russia’s natural gas to Europe and dependents on Russia for 60% of its own gas consumption. Russia is using its gas stranglehold on the Ukraine to gain control of its transit system. The EU is involved too. An epic struggle. But now, a deal with Turkey might usurp it.

Another Canadian Oil Train Derailment Punctuates The Crude Transportation Debate

by Oilprice.com •  • Comments Off on Another Canadian Oil Train Derailment Punctuates The Crude Transportation Debate

By Rory Johnston, of OilPrice.com: Early Saturday morning, a 134-car freight train carrying crude oil and liquefied petroleum gas derailed and exploded outside of Gainford, Alberta. The third such CN derailment in the past month. And three months ago, the tragic Lac-Mégantic disaster claimed 47 lives and incinerated the center of the town.

The Multi-Billion Dollar Reason Argentina Can’t Be Venezuela, Yet

by Bianca Fernet •  • Comments Off on The Multi-Billion Dollar Reason Argentina Can’t Be Venezuela, Yet

By Bianca Fernet, Argentina, The Bubble: I bring up Venezuela because I am frequently asked what I think is going to happen in Argentina. Venezuela provides a very sobering cautionary tale, because their economic policies look like Argentina’s on steroids.

California To Grapple “Indefinitely” With Nuclear Hangover

by Wolf Richter •  • Comments Off on California To Grapple “Indefinitely” With Nuclear Hangover

The costs of nuclear accidents can be catastrophic, for generations. But there are also the routine costs after reactors are shut down, when decommissioning expenses pile up, for timeframes beyond human comprehension. True costs are unknown. Now, the scandal-plagued San Onofre plant in Southern California has become a test case – indefinitely.

After Snatching Olympics, Japan Suddenly Admits Fukushima Not “Under Control,” Begs For International Help

by Wolf Richter •  • Comments Off on After Snatching Olympics, Japan Suddenly Admits Fukushima Not “Under Control,” Begs For International Help

As the Fukushima fiasco hobbled from cover-ups to partial revelations, mega-utility TEPCO – famous for its parsimoniousness with the truth and lackadaisical handling of the fiasco – always pretended the situation was under control. But days after Tokyo scored the 2020 Olympics, that pretense fell apart. Now Prime Minister Abe begged for international help.