Word: arctics
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...reasons for paying an extra $10 are blowing in the wind. Today scientists—most recently an eight nation group called the Arctic Climate Impact Assessment—mostly agree that the release of carbon dioxide and other pollutants into the atmosphere has caused a greenhouse effect like never before, resulting in not only increased temperatures, but also in increased frequency of extreme weather events, such as floods and droughts...
...flagpole outside its Moscow headquarters to celebrate a landmark deal: with a $2 billion bid, the U.S. firm ConocoPhillips had just won an auction for the Russian government's 7.6% stake in the firm. The two companies promptly announced a strategic alliance to develop oil reserves in the Russian Arctic and potentially work together in Iraq. For Jim Mulva, Conoco's president and chief executive, the deal amounted to a coup, giving Conoco access to 8 billion bbl. of proven oil reserves at a relatively modest cost. Lukoil was delighted, too, because it is counting on the Americans to help...
...from investors to find new reserves - now. With near record crude prices and Iraq in turmoil, Russia's vast untapped wealth of oil and gas has never looked more attractive. There are production challenges: many of the reserves are located in remote locations deep in Siberia or above the Arctic Circle. Russia's Minister for Natural Resources, Yuri Trutnev, has cautioned that extracting Russian oil will become increasingly difficult. Nonetheless, the Western oil companies are eager to export Russia's reserves, which are conservatively estimated at 70 billion bbl. - more than double those...
...find new reserves--now. With near record crude prices and Iraq in turmoil, Russia's vast untapped wealth of oil and gas has never looked more attractive. To be sure, there are production challenges: many of the reserves are located in remote locations deep in Siberia or above the Arctic Circle, and transport depends on clunky Soviet-era railways and pipelines whose leaks are frequently decried by Greenpeace and other environmental activists. Nonetheless, the Western oil companies are eager to export Russia's oil reserves, which are conservatively estimated at 70 billion bbl.--more than double those...
...Arctic Heat Climate change hits the far north...