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Mon, 2013-10-07 18:01Steve Horn
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Frank Giustra, President Bill Clinton's Close Colleague, Joins US Oil Sands Board

Frank Giustra - key power broker and close colleague of former President Bill Clinton - has taken a seat on the Board of Directors of U.S. Oil Sands, an Alberta-based company aiming to develop tar sands deposits in Utah's Uintah Basin. **UPDATE: Although he was named a prospective appointee to the Board, Mr. Giustra ultimately declined the position, citing “other commitments.”**

U.S. Oil Sands - in naming several new members to its Board - also announced it has received $80 million in “strategic financing” from Blue Pacific Investments Group Ltd., Anchorage Capital Group, L.L.C. and Spitfire Ventures, LLC.

The funding will help get the ball rolling on “tar sands south,” a miniature but increasingly controversial version of its big brother to the north, the Alberta tar sands. Giustra will likely help in opening the right doors for tar sands industry interests in the United States. 

Giusta is best known for his work in the worlds of uranium mining and minerals mining, though he has dabbled in the Alberta tar sands finance world once before, lending upwards of $20 million in capital to Excelsior Energy. He serves as CEO and President of Fiore Financial Corporation. 

Founder and Director of the Radcliffe Foundation and Co-Director of the Clinton Giustra Enterprise Partnership (formerly known as the Clinton Giustra Sustainable Growth Initiative), Frank Giustra has maintained close ties with Bill Clinton since 2005.

The Clinton Giustra Sustainable Growth Initiative is an arm of the Bill, Hillary, and Chelsea Clinton Foundation (the Clinton Foundation). Giustra sits on the Clinton Foundation's Board of Trustees.

Thu, 2011-12-01 14:43Steve Horn
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LNG Groundhog Day: Cheniere Energy Signs Yet Another Gas Export Deal on Gulf Coast

Credit: Oleksandr Kalinichenko / Shutterstock

Another day, another unconventional gas export deal signed. Nascent North American LNG (liquefied natural gas) export deals are happening so fast and furiously that it is hard to keep track of them all.

The latest: On November 21, Cheniere Energy Partners signed a 20-year LNG export deal with Gas Natural Fenosa, an energy company which operates primarily in Spain but also in such countries as Italy, Mexico, Colombia, Argentina, and Morocco. Cheniere will maintain the Sabine Pass LNG export terminal located off of Sabine Lake between Texas and Louisiana, which feeds into the Gulf of Mexico, while Gas Natural Fenosa will ship the gas to the global market.

Cheniere, which made waves when its CEO Charif Souki announced that his corporation's business model would center exclusively around LNG export terminals, also recently signed a 20-year export deal with BG Group, short for British Gas Group.

Like the recent export deal with BG Group, which involves carrying fracked unconventional gas from various shale basins around the United States via pipelines to the Sabine Pass LNG export terminal, the Gas Natural Fenosa deal also centers around the export of gas from Sabine Pass to the global market.

Tue, 2010-11-30 14:40Emma Pullman
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Cancun Showdown: Results at the UN Climate Talks More Important Than Ever

The United Nations Climate Change talks kicked off yesterday in Cancun.  For many, the mood began much more sombrely than last year.  Copenhagen attracted celebrity clout, world leader buzz, and a sense of optimism for a binding agreement.  For all Copenhagen promised, however, those who hoped for a fair and binding global deal left empty handed.  

Along with analysts, pundits and the blogosphere, the U.S., UK and EU are already downplaying the chances of a deal being reached in the next fortnight.  And as Desmogblog reported today, those fears may not be in vain with threats that the U.S. may pull out of the talks early

The talks during the next two weeks are going to focus largely on forests and finance, but also on questions about the legal status of a future agreement and emissions targets, which are expected to be tackled beginning next week when ministers arrive.

The sense of general pessimism around the talks has led some to question the viability of the UN Framework Convention on Climate Change (UNFCCC) to deliver, and has led others to manufacture doubt over the scientific basis for action.  A new report released by Oxfam argues that despite the disconsolate atmosphere, a year of extreme weather conditions demonstrate more than ever that a binding climate agreement under the UN auspices is imperative.  The report, More than ever: climate talks that work for those that need them most, presents the weather events that have devastated much of the planet in the last year, and the even more harrowing costs of climate inaction.  

According to the report, at least 21,000 people died due to weather-related disasters in the first nine months of this year – more than twice the number for the whole of 2009.  “This year is on course to experience more extreme-weather events than the 10-year average of 770. It is one of the hottest years ever recorded,” wrote Tim Gore, Oxfam’s EU climate change policy adviser and report’s author.

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