The economy of Middle East is practically synonymous with crude oil for the average Western observer, but what most people aren’t aware of is the Middle East hasn’t been doing so well out of its crude oil reserves in recent years. So much so, that it may be the first time in history that we can justifiably declare an imminent state of Peak Oil in these regions. It is an understandably bold statement, and one that will come as a surprise to many… especially those who have been blindsided by the more general, global statistics. Besides a slight dip over … Continue reading →
Fracking, or Hydraulic Fracturing, is a method to stimulate or improve fluid flow from rocks in the subsurface. Advancements in extraction technologies have enabled drillers to reach previously inaccessible gas in geological formations The technique involves pumping water-rich fluid into a borehole until the fluid pressure at depth causes the rock to fracture. The pumped fluid contains small particles, such as quartz-rich sand or chemicals, which serve to prop open the fractures. After the fracking job, the pressure in the well is dropped and the water containing released natural gas flows back to the well head at the surface. Fracking … Continue reading →
As negotiators around the world gather for what many expect to be a groundbreaking UN climate negotiating session at the 21st Conference of Parties (COP21) which will seek a legally binding agreement on climate action, few may know that their meeting is being funded by the Coal industry. The corporate sponsorship of COP21 creates a dangerous conflict of interest in three key respects. Many of the sponsors are highly invested in oil, gas, coal, and other carbon-polluting sectors, and have a vested interest in obstructing or weakening any real action on climate change. However, with major industrial polluters using their … Continue reading →
Recent events in the Europe and the United States have propelled fracking up the public and political agenda. Is the case for drilling full of holes? Despite apparent economic benefits, fracking has got entangled in a good deal of controversies with some countries outrightly banning or suspending it. Public health concerns, environmental issues, geomechanical risks, groundwater contamination, air pollution and waste management are some of the issues are coming under increasing public scrutiny. No Sense of Well-being The oil and gas industry does not inspire huge public confidence, as attention focuses on major incidents like the Deepwater Horizon blowout, which have cost lives, caused … Continue reading →
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