Latest news with #oilCompanies
Washington Post
19-06-2025
- Science
- Washington Post
Want to plant trees to offset fossil fuels? You'd need all of North and Central America, study finds
Planting trees has plenty of benefits, but this popular carbon-removal method alone can't possibly counteract the planet-warming emissions caused by the world's largest fossil-fuel companies. To do that, trees would have to cover the entire land mass of North and Central America, according to a study out Thursday. Many respected climate scientists and institutions say removing carbon emissions — not just reducing them — is essential to tackling climate change. And trees remove carbon simply by 'breathing.' But crunching the numbers, researchers found that the trees' collective ability to remove carbon through photosynthesis can't stand up to the potential emissions from the fossil fuel reserves of the 200 largest oil, gas and coal fuel companies — there's not enough available land on Earth to feasibly accomplish that.
Yahoo
18-06-2025
- Business
- Yahoo
Rupee set to plumb to 2-month low at open on fears over oil-spurred outflows
By Nimesh Vora MUMBAI (Reuters) -The Indian rupee is set to open weaker on Wednesday, nearing a two-month low, weighed down by rising crude oil prices amid escalating Iran-Israel tensions and concerns over outflows. The 1-month non-deliverable forward indicated a open in the 86.38-86.42 range, versus 86.24 in the previous session. The unit had already breached a support level on Tuesday, and traders said the bias remains firmly on the downside. Brent crude futures climbed over 4% on Tuesday, with the rally holding firm through the Asian session on Wednesday, amid concerns that the ongoing Iran-Israel conflict could disrupt supplies. The conflict has now entered its sixth day and anxiety is building over the risk of direct U.S. military involvement. U.S. President Donald Trump on Tuesday demanded Iran's unconditional surrender. In a further development, three U.S. officials said Washington is deploying more fighter aircraft to the region to strengthen its military forces. A prolonged conflict "raises the odds of oil staying bid", and that's "structurally bearish for Indian assets", leading to outflows, a currency trader at a Mumbai-based bank said. He expects 86.50 to act an initial support zone, with markets staying alert to potential dollar sales by the Reserve Bank of India around that level, he said. High oil prices tend to weigh on the Indian rupee due to the country's dependence on crude imports. A rise in oil directly increases the demand for dollars from oil companies and leads to a deterioration in the trade balance. Meanwhile, the Federal Reserve's policy decision on Wednesday will be in focus alongside developments in the Middle East. While the Fed is widely expected to keep rates unchanged, market attention will be on any signs around the timing and extent of future rate cuts. BofA Global Research expects the Fed's 2025 dot plot to shift higher, with the median projection rising by 25 basis points from the March estimate of 3.875%. KEY INDICATORS: ** One-month non-deliverable rupee forward at 86.46; onshore one-month forward premium at 8.5 paise ** Dollar index down at 98.7 ** Brent crude futures at $76.4 per barrel ** Ten-year U.S. note yield at 4.4% ** As per NSDL data, foreign investors sold a net $307.8mln worth of Indian shares on June 16 ** NSDL data shows foreign investors bought a net $32.4mln worth of Indian bonds on June 16 Sign in to access your portfolio
Bloomberg
12-06-2025
- Automotive
- Bloomberg
Trump Floats Higher Auto Tariff, Repeals California Gas-Car Ban
President Donald Trump said he may raise US auto tariffs in order to boost domestic auto manufacturing, a move that could further ratchet up tensions with trading partners. Trump spoke Thursday at a signing ceremony for legislation terminating California regulations that would have banned the sale of gasoline-powered cars in 2035 — a long-sought victory for some carmakers and oil companies that attacked the rules as unachievable.
CBC
27-05-2025
- Business
- CBC
Levy charged to Alberta oil companies too low to cover orphan well costs, says report
A new report is warning the annual levy charged to Alberta oil companies to fund the cleanup of orphaned oil and gas wells remains too low to keep up with the rate of surrendering. The report written by Drew Yewchuk, formerly a staff lawyer with the University of Calgary's Public Interest Law Clinic, says this year's levy rate combined with low rates in previous years is leading to an estimated funding shortfall of $1.2 billion. The levy funds the Orphan Well Association, a non-profit entity overseen by industry and regulator officials and tasked with reclaiming wells that are orphaned when oil and gas companies go bankrupt. The association says it has more than 3,700 wells on its books that need to be decommissioned and reclaimed, which could cost more than $860 million. Yewchuk's report says the $144 million in levies the Alberta Energy Regulator recently approved to be collected this fiscal year continues the trend of underfunding for the Orphan Well Association. Since the association will also need to repay more than $300 million in federal and provincial government loans over the next 10 years, Yewchuk says Alberta's orphan well situation will only get further out of hand.
