ENERGY NEWS-OPEC chatter pulls oil out of big overnight slump

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OPEC chatter pulls oil out of big overnight slump

May 23 (UPI) -- Crude oil prices were pulling back toward even in early Tuesday trading, after U.S. budget moves balanced against OPEC narratives.

U.S. gasoline needs lower on improved fuel economy

May 23 (UPI) -- Improved fuel economies for light-duty vehicles in the United States means gasoline demand could trend lower, a federal brief published Tuesday found.

OPEC-member Kuwait says oil prices won't spike

May 23 (UPI) -- While there's broad support for extending the effort to balance the market through production declines, Kuwait's oil minister said oil prices shouldn't spike.

Trump budget plan partially depends on sale of strategic oil reserves

May 23 (UPI) -- President Donald Trump's plan to sell off strategic oil reserves to balance the budget will take careful planning to avoid hurting oil prices, analysis finds.

OECD: No excuse for ignoring climate change

May 23 (UPI) -- There is no economic excuse for backing away from efforts to advance a low-carbon economy through collaborative efforts, the head of the OECD said from Berlin.

Holiday demand, high oil prices working against drivers

May 23 (UPI) -- Stronger expected demand moving into the long U.S. holiday weekend and higher crude oil prices means consumers are paying more for gas, AAA finds.

Mexico next in line to examine geothermal energy

May 23 (UPI) -- The possibility to tap geothermal resources in Mexico is what's drawing interest from global energy companies, French and Icelandic partners said.

OPEC-fueled oil price rally extends into second week

May 22 (UPI) -- A narrative from the head of OPEC that efforts to balance the market paid off led to a strong rally in crude oil prices Monday despite signs of sluggish growth.

OPEC sees light at 'the end of the tunnel'

May 22 (UPI) -- Crude oil inventories are on the decline and there is "some light at the end of the tunnel" for OPEC's market balancing effort, its secretary general said.

Wood Group to help with Russia's LNG efforts

May 22 (UPI) -- Scottish energy services company Wood Group said Monday it secured a contract with Russia to help advance Far East liquefied natural gas development.

Iran sees need for major offshore investments

May 22 (UPI) -- Speaking after moderate President Hassan Rouhani's re-election, an Iranian trade minister said the country needs major investments for offshore oil and gas.

BP says its North Sea portfolio is on the rebound

May 22 (UPI) -- British energy company BP said it started oil production from a North Sea basin after spending billions of dollars on regional redevelopment.

Oil production starts for Vitol offshore Ghana

May 22 (UPI) -- Oil production from a floating facility off the coast of Ghana has started three months ahead of schedule, Dutch energy company Vitol said.

Exxon bringing Saudi partner to U.S. petrochemicals

May 22 (UPI) -- Exxon Mobil said it was bringing its Saudi partners to a U.S. facility, though other companies in talks in Riyadh agreed to expand their regional presence.

World to Cut Emissions With or Without Trump

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Officials say future climate action will require farsightedness, political courage, intelligent regulations and getting corporations on board. Credit: Bigstock

BERLIN, May 22 2017 (IPS) - In a last-ditch effort, Germany and China are trying to influence the United States not to walk away from the Paris climate change accord it signed along with 194 nations.

In December 2015, nearly every country committed to take action to reduce planet-warming emissions.

"The US may try to renegotiate the terms of the agreement. Other countries have to be very clear that they are defending the integrity of the accord and would not accept reduced US commitments." --Lutz Weischer

“We are trying to influence the US through different channels and people, at the foreign ministry level to the EPA and even the Chancellor [Angela Merkel] has repeatedly called up President [Donald] Trump to remain in this landmark agreement,” said German Environment Minister Barbara Hendricks at the two-day 8th Petersberg Climate Dialogue being held in Berlin.

Terming the Paris Agreement a “hard-won milestone”, the Chinese special envoy Xie Zhenhua said his country was “true to word and resolute in deed”. Like his German counterpart, he too reiterated that all signatories should “stick to it” and “not retreat”. China is resolute in its commitment, he said and added the need for transparency to “build mutual trust and confidence” was also paramount.

At the same time, both countries gave a positive signal of what they were doing to reduce carbon emissions, with Hendricks emphasizing on the need to work on the “ecological technologies of the future” in the sectors of transport, infrastructure development and grids. They talked about the advances made in the renewable energy sector, the dire need for phasing out coal and the baby steps made towards electric cars.

Hendricks said future climate action would require farsightedness, political courage, intelligent regulations and getting corporations on board. “We do not have a blueprint as yet” but countries are ready to ride the wave of enthusiasm although with some reservations but all for “prosperity in the long term”.

She also said it was prudent to mainstream climate action in all economic, fiscal even health policies. “The ball is in the court of national governments,” she said adding: “Actions should speak louder than words.”

But despite so much commitment, the air of uncertainty continues to loom heavy over all climate talks as President Trump mulls over his “big decision”.

Dr Ralph Bodle, a senior fellow and coordinator of Ecologic, a Berlin based think tank on environment, was recently in Bonn helping ministers and diplomats from nearly 200 countries to hammer out a “rule book” to say who should do what, by when, how and with what financial support, thereby putting the Paris Climate Agreement into practice.

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He, too, conceded that there was concern over Trump’s decision during the 11-day intersessional climate talks. Bodle believed the Paris Accord “will live or fail with political will”.

It is expected the US president will announce a final decision after his return from Taormina, in Sicily, where he will attend the 43rd G7 Summit and where he will be pressured by other countries to give in.

In March, Trump had threatened to pull out of the accord and roll back the widely- supported climate policies of former president Barack Obama, whose administration set a target of a 26-28 percent reduction in emissions by 2025, based in 2005 levels. He had declared an end to the “war on coal”, signed an executive order that removed several restrictions on fossil fuel production and removed barriers to the Keystone XL and Dakota Access pipelines.

Before leaving office, Obama had transferred one billion dollars to the U.N.’s Green Climate Fund and pledged billions more to the fund through the Paris deal, which has not been taken well by Trump.

He has said the US was “paying disproportionately” and that they “got taken to the cleaners financially”. It is unclear whether Trump will honour those financial commitments.

In addition, he has gathered around him climate deniers. Take Scott Pruitt, the environment chief, for instance, who has gone on record saying global warming is not caused by emissions from fossil fuels.

Not everyone is sure whether it’s better to have Trump in or out.

“If Trump poses conditions for the US staying in the Paris Agreement, depending on the conditions, they could cause damage to the accord,” said Lutz Weischer from Germanwatch. He suspects the “US may try to renegotiate the terms of the agreement. Other countries have to be very clear that they are defending the integrity of the accord and would not accept reduced US commitments.”

There are others who also say that the withdrawal may have implications for the US-China relationship. President Xi Jinping has publicly hinted at his desire for the US to remain in it despite a tweet by Trump saying climate change was a Chinese conspiracy.

During the campaign, he claimed on Twitter that the concept of global warming was created by and for the Chinese in order to make U.S. manufacturing non-competitive.

According to Weischer, there are three important gaps that China is looking at — climate diplomacy, emissions and financing.”It knows it cannot fill the void all by itself and without the US on its side.” But if things take a turn for the worse, China will forge alliances with the EU and Canada. As for the financing gap, Weischer said “even that loss can be assuaged if all other countries stick to their commitments, at least for the next four years.”

But even if the US decides to pull out there are other countries who have reaffirmed their commitment which could, in fact be, a “reaction to the US”, said Weischer, who heads international climate policy at Germanwatch. He said it was more important to keep that momentum with actions being taken on the ground.

Even within the US, there are several states and even big corporations who want the US to have the seat at the table. “And even within the White House there are various camps on the issue,” he noted.

The next Conference of Parties to the climate framework (COP23), to be held this November, will be organized by Fiji, but hosted by Bonn.

Norwegian Trade Union Boycott Israel

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Israel's separation barrier as seen from Al Ram. Credit: Jillian Kestler-D'Amours/IPS

STOCKHOLM, May 22 2017 (IPS) - The Norwegian Confederation of Trade Unions (LO) has voted in favour of a boycott against Israel, which is expected to affect cultural, economical and academic ties. Condemnation has come from Isreali politicians, diplomats and unions.

By a vote of 197 for and 117 against, the LO congress passed the motion even though the representative General Council has not been in support of such a step.

According to Norwegian media organisation NRK, the newly elected president of LO, Hans-Christian Gabrielson, had warned delegates that a boycott could have negative consequences for Palestinian workers and trade unions.

Hans-Christian Gabrielsen. Photo: LO Norge

Histadrut, Israel’s largest federation of trade unions, reacted with great disappointment.

In correspondence with Arbetet Global, the Director of international relations, Avital Shapira-Shabirow, expressed:

”It would have been better for the organization to concentrate on promoting positive agendas between the parties rather than to adopt this miserable resolution, which is in utter contradiction to the cooperation of the Histadrut and PGFTU”.

She continues:

”Once again this emphasizes the unbalanced and discriminatory policy of LO-Norway towards the Histadrut and its workers.”

LO has also encouraged the Norwegian government to recognize a Palestinian state within the borderlines of 1967.

”Precisely at this time when there is another attempt to renew the negotiations between the parties, it would have been appropriate to show more responsibility and avoid adopting a unilateral resolution that does not contribute at all to promoting a possible solution to the conflict”, Avital Shapira-Shabirow writes to Arbetet Global.

”Norwegian government strongly opposes Norwegian Labour Union’s decision” stated Norwegian Minister of Foreign Affairs on Twitter, adding: ”We need more cooperation and dialogue, not boycott”

LO’s close political ally, the social democratic Norwegian Labour Party (Arbeiderpartiet) were also critical to the result of the vote. Party leader Jonas Gahr Støre told news agency NTB:

”I am against the boycott. I do not believe it will move us closer to a political solution for Israelis and Palestinians, with the establishment of a Palestinian state and a strengthening of human rights”

The Israel embassy in Oslo condemned the decision. Ambassador Raphael Schutz wrote in an e-mail to news agency AFP:

”This immoral resolution reflects deeply rooted attitudes of bias, discrimination and double standard towards the Jewish state”

Swedish LO though have no plans to follow suit. ILO expert Oscar Ernerot explains their position:

”In Sweden we actively support a two state solution and that Israel will cease to occupy Palestine. That is why we collaborate with the Isreali labour union Histadrut”

The Norwegian LO has 900 000 members which is about one-fourth of the national workforce.

Linda Flood

This story was originally published by Arbetet Global

Illegal miners smuggled $7bn worth of gold in Ghana

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More than $7 billion worth of gold obtained from illegal mining activities was smuggled from the country in 2016 alone, a Deputy Minister of Lands and Natural Resources, Mr Benito Owusu-Bio, has said.

Addressing a meeting with district chief executives (DCEs) and the leadership of the New Patriotic Party (NPP) and the National Democratic Congress (NDC) in Kumasi last Friday, Mr Owusu-Bio said a substantial quantity of the gold was allegedly smuggled by foreigners who had gone to the mining sites to buy the mineral.

The meeting formed part of the three-day tour of the Ashanti Region by the Minister of Lands and Natural Resources, Mr John Peter Amewu, and his entourage, including Mr Owusu-Bio.

Smuggling

Mr Owusu-Bio described as unacceptable the situation where a whopping $7 billion worth of gold could be smuggled from Ghana without the state earning a dime from it.

The purchase of gold at mining sites, he said, was an affront to the laws of the country and deprived the nation of much-needed revenue for development.

At a press conference in 2016, indigenous gold dealers expressed concern over the purchase of gold by some Chinese and Indians at mining sites.

As part of efforts to sanitise the mining industry, the deputy minister said, the laws governing small-scale mining would be strictly enforced to ensure that no foreigner went to the sites either to mine or buy gold.

He said laid down procedures would be followed to ensure that the country’s mineral resources were exploited in a sustainable manner that would not damage the environment.

Mr Owusu-Bio explained that the ban placed on small-scale mining was part of the measures to contain the alarming rate of gold smuggling.

DCEs

He said DCEs should be made to sign key performance indicators, including the protection of the environment and punishment of those who should have acted but failed to do so.

He expressed surprise at the fact that the law made DCEs the heads of district security committees and district mining committees but they had allowed wanton destruction of the environment to continue in their areas of jurisdiction.

Minister

Addressing small-scale miners minutes after the meeting with political party youth leaders and the DCEs, Mr Amewu explained that the government was not against mining but was concerned about the rate at which mining had destroyed water bodies, farmlands and forest reserves and left in its wake the degradation of the environment

He said since the NPP believed in property-owning democracy, it wanted to bring sanity into the system and even ensure that the miners got maximum returns on their investments in a sustainable manner.