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Justin Mikulka

Oil Companies Can’t Find Any Buyers For Refineries Struggling Amid Pandemic Crisis

Oil Companies Can’t Find Any Buyers For Refineries Struggling Amid Pandemic Crisis

Major players in the U.S. petroleum refining industry — which is experiencing a historic downturn due to the coronavirus pandemic — are attempting to sell refineries, with little luck. Unable to find any buyers, several refineries are becoming stranded assets as they are permanently shut down. The pandemic continues to set

With Bankruptcies Mounting, Faltering Oil and Gas Firms Are Leaving a Multi-billion Dollar Cleanup Bill to the Public

With Bankruptcies Mounting, Faltering Oil and Gas Firms Are Leaving a Multi-billion Dollar Cleanup Bill to the Public

Amid a record wave of bankruptcies, the U.S. oil and gas industry is on the verge of defaulting on billions of dollars in environmental cleanup obligations.

The US Oil and Gas Industry's Methane Problem Is Catching up With It

The US Oil and Gas Industry's Methane Problem Is Catching up With It

The acknowledgement by many larger oil and gas producers that methane emisssions are causing an industry image problem appears to be directly linked to new satellite technology, which no longer allows the industry to hide the true scale of its methane emissions

The Bakken Boom Goes Bust With No Money to Clean up the Mess

The Bakken Boom Goes Bust With No Money to Clean up the Mess

More than a decade ago, fracking took off in the Bakken shale of North Dakota and Montana, but the oil rush that followed has resulted in major environmental damage, risky oil transportation without regulation, pipeline permitting issues, and failure to produce profits. Now, after all of that, the Bakken oil

Bankers and Investors Finding Fracking Industry’s Underlying Models Prove Overly Optimistic

Bankers and Investors Finding Fracking Industry’s Underlying Models Prove Overly Optimistic

Bloomberg recently reported that Mike Lister, a JP Morgan energy banker, estimated that banks wrote off approximately $1 billion in reserve based loans for shale companies in 2019, exceeding their total losses for the past 30 years, and that trend is expected to continue.

New Satellite Data Reveals Dangerous Methane Emissions in Permian Region

New Satellite Data Reveals Dangerous Methane Emissions in Permian Region

New research based on satellite data confirms that the oil and gas industry in the Permian region of Texas and New Mexico is leaking record amounts of methane.

Exxon Now Wants to Write the Rules for Regulating Methane Emissions

Exxon Now Wants to Write the Rules for Regulating Methane Emissions

ExxonMobil is a company capable of contradictions. It has been lobbying against government efforts to address climate change while running ads touting its own efforts to do so.