Would you rather invest your money in a safe or an unsafe place? Spanish oil and gas company Repsol, the 15th largest hydrocarbon entity in the world, has answered that question by shifting its attention from Argentina to Alaska and other areas inside the Organization for Economic Cooperation and Development.
Background
In 1998 Repsol paid $13 billion for nearly 60% of YPF, the Argentine oil company. In 2010, Repsol discovered a significant oil shale play in an area called Vaca Muerta. All seemed well for the investor and for locals for greater economic activity and more energy.
But in 2011, Argentine President Cristina Fernández de Kirchner nationalized 51 percent of YPF, leaving Repsol with 6.4 percent ownership . Repsol wants $10.5 billion in compensation; Argentina’s most recent offer is $1.5 billion.…
Continue Reading“The very real positive externality of inadvertent atmospheric CO2 enrichment must be considered in all studies examining the SCC [social cost of carbon].”
– Craig Idso, “The Positive Externalities of Carbon Dioxide: Estimating the Monetary Benefits of Rising Atmospheric CO2 Concentrations on Global Good Production.” Center for the Study of Carbon Dioxide and Global Change (October 2013).
The Carbon Sense Coalition has accused those waging a war on carbon dioxide of being “anti-green.” Why? Because CO2 is the gas of life, feeding every green plant, producing food for every animal and in the process releasing oxygen, another gas of life, into the atmosphere.
A recent study in Remote Sensing, Measuring and Modeling Global Vegetation Growth: 1982–2009) notes that data from remote sensing devices show significant increase in annual vegetation growth during the last three decades.…
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