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Showing posts from March, 2016

Low oil prices are fighting climate change

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Its use which dates back over 150 years shows the first 50 years, production was minimal for light and heating, from the 20th century the scale of production has been on the increase. In Uganda the oil has been discovered in the Albertine Graben covering about 500 kilometres by 45 kilometres next to DRC, in the south lies Lake Edward and South Sudan in the north.  The area is estimated to have around 2.5 billion barrels of oil, which will produce 1,200,000 million kgs of Carbon dioxide, with the recent fall in prices Uganda has to back track production.
Easy to drill deposits have been exhausted leaving high risk and high cost like artic drilling, Brazil deep water reservoirs, tar sands in Alberta. With the oil prices dropping from $100 to about $40 per barrel does not make it profitable. Shell’s halt in Alberta (418 million barrels), means that the world would be saved from 200,640 million kgs of Carbon dioxide, its future tar sand projects of about 3 billion barrels will be put on h…