Green Options » Exxon-Mobil

For Sale: Dwindling Iraqi Oil Field $1 Trillion or Best Offer

Joanna Schroeder — Wed, 01 Jul 2009 23:29:50 +0000

I have too much time on my hands, so I took a gander at the 2009 BP Statistical Review of World Energy to kill time as well as wait to see if I won the bid for an Iraqi oil field. I didn’t.

BP and China National Petroleum beat me and they now have the right to develop Rumaila - the largest Iraqi oil field. The two organizations beat out a bid from Exxon Mobil Corporation and the Iraqi Oil Minister Hussain al-Shahristani estimates that the selling of oil rights will garner them more than $1.7 trillion over the next 20 years.

This win shouldn’t be surprising considering 2008 was the first year that developing countries, led by China, consumed more energy than developed countries. It was also noted in BP’s report that industrialized countries reduced their energy consumption by 1.3 percent led by a 2.8 percent decline in energy consumption from the U.S. –the steepest single-year decline since 1982. However the potential benefits of energy reduction were offset by countries who increased their energy consumption. China accounted for nearly three-quarters of the 1.4 percent global consumption increase.

Killer Whale Population Never Recovered from Exxon Valdez Spill

Alex Felsinger — Thu, 12 Feb 2009 19:25:40 +0000

Biologists believe that the entire population of killer whales in the Prince WIlliam Sound will soon die off completely.

While salmon, otters, and other animals in the area have experienced partial or full recoveries, this group of whales has struggled ever since the 11-million-gallon oil spill in 1989. At that point, the whales numbered 22. Today they’re down to just seven.

Exxon Brings Hydrogen Pipeline To Gulf Coast

Jerry James Stone — Wed, 22 Oct 2008 14:57:51 +0000

Louisiana is oiling up for a hydrogen network.

Exxon Mobil has entered in to a long-term contract with Air Products for constructing a new Steam Methane Reforming (SMR) Hydrogen production facility in Louisiana. The facility will be connected to Air Products’ Louisiana Hydrogen Pipeline Network and will service Exxon Mobil’s Baton Rouge, Louisiana refinery.

Exxon Reports Highest Profit for Any US Company EVER

Jennifer Lance — Sun, 07 Sep 2008 21:16:36 +0000

For the second quarter of 2008, Exxon Mobil reported a record-breaking profit of $11.68 billion, the largest quarterly profit in U.S. history! That is $1,485.55 a second!

Via: CNN Money

Image: Greenpeace

Campaign Contributions Versus Lobbying: Big Oil Spends Big Money in Washington

Jennifer Lance — Wed, 20 Aug 2008 08:35:56 +0000

Big oil has been spending big money in Washington, but it may surprise you that gas and oil companies spend more money on corporate lobbying than individual campaign contributions. Why chose lobbying over campaign contributions? Lobbying is more effective at crushing energy bills, as we have seen this year. As Ralph Nader explains, “The corporate lobby in Washington is basically designed to stifle all legislative activity on behalf of consumers.” It’s no coincidence that recently the Senate blocked the extension renewable energy tax credits.

Thus far in 2008, oil and gas companies have spent $55,339,015 million on lobbying in an effort to convince lawmakers to vote in the industry’s favor and against renewables. Not surprisingly, the top spender is Exxon-Mobil. At the current rate of spending, the industry is set to break last year’s record of $83 million. Big Oil defends this increased spending in response to more energy bills being on the “menu” and denies it is responsible for the failure of these bills; however, lobbying dollars speak for themselves. According to CNN:

The oil industry may have not gotten its drilling wish list just yet, but so far they have been able to avoid higher taxes.

Meanwhile, the renewable energy folks haven’t seen a big increase in funding.

Looking at the dollars spent lobbying Congress, that may not be surprising. The renewable industry and their allies in the environmental movement have spent a combined $19 million lobbying Congress this year - half what the oil industry has spent.
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