Keystone XL in Trouble; End of Oil?
Permits to Build Keystone XL in Jeopardy as Hearings Reveal Missteps. TransCanada’s decision to purchase all of the pipe needed to complete the Keystone XL pipeline before receiving a permit could prove a costly mistake. Not only is President Obama expected to reject the TransCanada’s cross-border permit, the company must recertify an expired South Dakota permit.
Low Oil Prices, Oil Companies In Red, End of Oil?. With the oil industry facing what could be its worst downturn in more than 45 years, the major companies are taking extraordinary, perhaps even desperate, measures to preserve their dividends. This is raising the question of whether the current price slump is just another in a long history of down business cycles, from which oil companies always emerge victoriously, or a sign of more deeply troubled times ahead.
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Whistler Blowers, Insiders
The price of oil is low because it’s being pumped out at much faster rates flooding the market. And that is because they want to extract and sell it while it’s still worth something. New technology is replacing the need for fossil fuels. In the very near future, just like the stones from the stone age, it will be next to worthless.