Tag Archives: BP oil spill

Massachusetts Supreme Judicial Court Hands Cape Wind Legal Victory

The Massachusetts Energy Facilities Siting Board’s 2009 ruling approving the transmission lines was appealed by the town of Barnstable, the Alliance to Protect Nantucket Sound, and the Cape Cod Commission. The Alliance to Protect Nantucket Sound pledged to continue the fight against Cape Wind, claiming that the decision “is an outrageous violation of community rights.”

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The once revered risk- taking reputation that BP has built for itself may be in danger for the future

The recent and utterly disastrous oil spill that has taken place a few months ago in the Gulf of Mexico has affected the region’s people, environment, culture and future. Yet it now looks like BP, the company pegged as the main culprit behind the accident will also suffer from the catastrophe in the long run. The ambitious firm was just recently taken out of consideration for some new and lucrative ventures unravelling in Greenland. The company has had its latest projects in the North Sea and Libya cancelled in the wake of the disaster, and the Greenland fiasco comes at a bad time for the ailing company that once reigned atop as the most risk- taking and forward- looking company in its field.

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Hedge Funds Cut Stakes in Energy Market

Hedge Funds Cut Stakes in Energy Market

Investors cut hedge fund bets on natural gas by 23% this week, marking the lowest level so far this year. Last year, fuel prices fell by 19% over the course of August, and we may be in for a repeat performance according to the data from the Commodity Futures Trading Commission. Natural gas has already fallen 14% since the start of August, with a current value of $4.228 per million Btus on the New York Mercantile Exchange.

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Gulf spill’s legal aftermath persists as Alabama files lawsuit against BP

The state of Alabama has filed several lawsuits against BP, Transocean and other companies involved in the massive spill that has affected the Gulf of Mexico. As one of the four states that suffered in the wake of the disastrous spill, Alabama has been seeking monetary compensation for the extensive damages sustained by its ecology, fauna, flora, infrastructure, and people. The major clean-up and rehab hours costs are also listed as items due for compensation.

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In the face of the latest disasters, the US green energy economy has gained tremendous momentum, as nation reels from recent spills

Recent disasters associated with conventional fuels, like the Gulf of Mexico spill and the Massey coal mining accident have caused investors to take a much more personal and detailed interest in the policies of companies holding their money. The fact that such prolific and giant fuel companies have such persistent streaks of accidents have driven investors to actively demand stringent safety and environment- minded regulations from the companies whose shares they represent.

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