Categotry Archives: Politics

Why Rex Tillerson Stands Out

There’s an article in the Wall Street Journal about Rex Tillerson, ExxonMobil’s departing CEO and the man who Trump has picked for the role of Secretary of State.  The whole article is worth reading, but this bit caught my eye: Mr. Sechin came to like Mr. Tillerson because he was transparent and forceful in his communications—and was one of the few Western executives strong enough to push back against Mr. Sechin, said people familiar with the matter. … Mr. Putin, who […]

ExxonMobil Resists

Real-world stuff has kept me away from the keyboard for the past month or so.  This will happen occasionally, but I have no intention of quitting the blog permanently.  If I do I’ll let you know, so please do keep checking back. While I was away ExxonMobil came under pressure from a minority of shareholders to adopt various climate change policies: After a long battle to even get on the agenda for ExxonMobil’s 2016 Annual Meeting, the company’s shareholders on […]

Newfound pain

There’s a long but interesting article in Canada’s The Star on how the decline in oil prices has hit the city of St. John’s in Newfoundland.  It is interesting because although St. John’s does have an offshore oil industry, it is not a traditional coastal oil town in the manner of Aberdeen or Stavanger, and is often overshadowed insofar as the Canadian industry goes by Calgary. Though Newfoundland is some 6,500 kilometres east of ground zero for Canada’s oil industry, […]

Hypocrisy from Greenpeace, Double Standards from UK HSE

I am all for the right of citizens to protest anything they like, and consider it to be a cornerstone of a civilised society, but I’m not so happy about this: Greenpeace has built a 10-metre high mock fracking rig outside Parliament, to protest the Government’s support for the controversial drilling method. The rig, accompanied by lorry and drilling sounds and featuring a flare which fires up every hour, was erected to coincide with the opening of a public inquiry […]

Gordon’s ghost

This is bullshit: David Cameron will fly to Aberdeen on Thursday to announce a £250m package to prop up the North Sea oil industry, the first stage of an infrastructure investment for the city. The prime minister will promise a new “oil and gas technology centre” in Aberdeen to fund future research, including into innovative ways to extract oil and gas. His visit comes as the North Sea struggles against slumping oil prices, which have left many of its companies […]

When engineers ignore economics, Part 375

One of the many side effects of the collapse in the oil price is a proliferation of nonsensical articles on the subject.  Today I stumbled across this in LinkedIn. It must be hard for the world to have sympathy for an oil and gas industry that has been so extravagant and wasteful. Why yes, it must be. The Hubbert curve is a logistic model showing the theoretical depletion of worldwide resources over a two hundred year period.  It has a steep ramp up […]

One less snout

Bloomberg reports of a Russian oligarch who has found himself ousted from Putin’s inner circle: He was one of the most powerful men in Russia for a decade, an old pal of the president who oversaw a million workers and a rail network spanning 11 time zones. But then Vladimir Yakunin was suddenly out, ending a career that included a stint as an intelligence officer at the United Nations in New York during the Cold War. Now Yakunin, 67, has […]

Nations and Corporations: Parallel Decadence

It can sometimes be an interesting exercise to compare countries with corporations.  Not in the usual sense that dimwitted Social Justice Warriors do when they compare a company’s market capital (a stock) with a country’s GDP (a flow).  You might as well compare a lake with a river (and iif you’re a SJW, express concern that the Rio Grande is bigger than Crater Lake).  On this point, Tim Worstall explains all. No, I’m thinking more along the lines of how […]

Coal scuttle

Last week we had Ambrose Evans-Pritchard telling us that: It is patently obvious that China is not about to sabotage a climate deal.  Its submission to the COP21 summit aims for peak greenhouse emissions by 2030, if not before. It plans 200 gigawatts (GW) of wind and 100GW of solar by then, and a reduction in coal use from 2020 onwards. This week the New York Times tells us: China, the world’s leading emitter of greenhouse gases from coal, has been […]

As convincing as Fred up front

This story raises more questions than it provides answers: A federal judge in Brazil has reportedly sentenced the former vice president of local engineering firm Mendes Junior to 19 years and four months in prison for his role in the massive kickback scheme. Judge Sergio Moro convicted Sergio Cunha Mendes of corruption, money laundering and racketeering for the payment of 31.5 million reais ($8.3 million) in bribes to obtain contracts with state-run oil company Petrobras, Reuters reported. Okay, so somebody […]