Tullow Oil may emerge as the latest casualty of the coronavirus this week as it prepares to lay bare the toll of a difficult year, amid growing investor concern for the oil industry in the months and years ahead.
The troubled exploration company has already lost more than half its market value since the start of 2019 as the Covid-19 outbreak punctured rising oil markets and cast doubt on the size of world energy demand in the year ahead.
The FTSE 250 group warned investors in January that it would take a £1.5bn writedown due to the economic impact of the virus, which has stalled growth in China and threatens productivity across the globe.
Since then, oil prices have tumbled to a one-year low of below $50 a barrel, from almost $69 at the beginning of the year, as traders warned the market to be prepared for “zero growth” in oil demand this year.
Tullow’s financial woes began before the coronavirus outbreak hit the globe’s appetite for oil.In December, its shares plunged to a 16-year low after the company surprised investors by slashing its production forecasts, scrapping its dividend and announcing that its chief executive and exploration director had left.
Life After Carbon: The Next Global Transformation of Cities
by Peter Plastrik , John Cleveland
The future of our cities is not what it used to be. The modern-city model that took hold globally in the twentieth century has outlived its usefulness. It cannot solve the problems it helped to create—especially global warming. Fortunately, a new model for urban development is emerging in cities to aggressively tackle the realities of climate change. It transforms the way cities design and use physical space, generate economic wealth, consume and dispose of resources, exploit and sustain the natural ecosystems, and prepare for the future. Available On Amazon
by Elizabeth Kolbert
Over the last half-billion years, there have been Five mass extinctions, when the diversity of life on earth suddenly and dramatically contracted. Scientists around the world are currently monitoring the sixth extinction, predicted to be the most devastating extinction event since the asteroid impact that wiped out the dinosaurs. This time around, the cataclysm is us. In prose that is at once frank, entertaining, and deeply informed, New Yorker writer Elizabeth Kolbert tells us why and how human beings have altered life on the planet in a way no species has before. Interweaving research in half a dozen disciplines, descriptions of the fascinating species that have already been lost, and the history of extinction as a concept, Kolbert provides a moving and comprehensive account of the disappearances occurring before our very eyes. She shows that the sixth extinction is likely to be mankind's most lasting legacy, compelling us to rethink the fundamental question of what it means to be human. Available On Amazon
Climate Wars: The Fight for Survival as the World Overheats
by Gwynne Dyer
Waves of climate refugees. Dozens of failed states. All-out war. From one of the world’s great geopolitical analysts comes a terrifying glimpse of the strategic realities of the near future, when climate change drives the world’s powers towards the cut-throat politics of survival. Prescient and unflinching, Climate Wars will be one of the most important books of the coming years. Read it and find out what we’re heading for. Available On Amazon
From The Publisher:
Purchases on Amazon go to defray the cost of bringing you InnerSelf.comelf.com, MightyNatural.com, and ClimateImpactNews.com at no cost and without advertisers that track your browsing habits. Even if you click on a link but don't buy these selected products, anything else you buy in that same visit on Amazon pays us a small commission. There is no additional cost to you, so please contribute to the effort. You can also use this link to use to Amazon at any time so you can help support our efforts.