Warren Buffett, the third wealthiest man on the planet (net worth: $44 billion), often referred to as the “Oracle of Omaha,” is the target of a May 5 action called for by Stop Coal B.C. Well, not Buffett directly, but a rail company he owns through his massive holding company, Berkshire Hathaway: Burlington Northern Santa [...]

TransCanada’s Keystone XL Pipeline permit hangs in the balance, up for a potential Senate vote this week, having already passed the House as part of the Transportation Bill last week. Other companies, meanwhile, are wasting no time pushing their own respective tar sands pipeline proposals while that drama unfolds. Last week, DeSmogBlog noted that for [...]

A Cross-Post from DeSmogBlog The controversy over TransCanada‘s Keystone XL pipeline has raged on for years now, with no end in sight. The Keystone XL pipeline would carry tar sands crude from the tar sands epicenter of the world in Alberta, Canada, take it down to Cushing, OK, and then eventually down to Port Arthur, TX, where it will [...]

The President held his event in Cushing, Oklahoma, this morning, announcing an expedited review of the southern half of the Keystone XL pipeline, which will move oil from Cushing to refineries at Port Arthur, Texas (in all likelihood raising gas prices in parts of the Midwest). And as Oklahomans listened and Native American protesters demonstrated [...]

Economists at the Federal Reserve Bank of St. Louis estimate that Wall Street speculation is now the second-largest contributor to oil prices, accounting for 15% of the increase in oil prices over the last decade – correlating strongly with the expansion of commodity trading and speculation in oil futures. This makes speculation perhaps the most [...]