Fossil Fuels

Divestment Fever Spreads As ‘Eco Radicals At Goldman Sachs’ Downgrade Exxon Stock To ‘Sell’ Status

February 7, 2020 By Julia Conley, Commondreams.org Educate! Divestment, ExxonMobil, Fossil Fuels, Goldman Sachs

"The best reason to divest fossil fuel stock is that you'd like to help preserve a livable planet. Another reason is so that you won't lose your money." Three days after CNBC host Jim Cramer pronounced fossil fuel investments as being "in the death knell phase," Goldman Sachs on Monday downgraded its stock assessment for ExxonMobil, advising investors to sell their shares of the oil and gas giant.

Global Banks, Led By JPMorgan Chase, Invested $1.9 Trillion In Fossil Fuels Since Paris Climate Pact

January 25, 2020 By Sharon Kelly, Desmogblog.com Educate! Banks, Climate Change, Fossil Fuels

A report published today names the banks that have played the biggest recent role in funding fossil fuel projects, finding that since 2016, immediately following the Paris Agreement's adoption, 33 global banks have poured $1.9 trillion into financing climate-changing projects worldwide. The top four banks that invested most heavily in fossil fuel projects are all based in the U.S., and include JPMorgan Chase, Wells Fargo, Citi, and Bank of America. Royal Bank of Canada, Barclays in Europe, Japan’s MUFG, TD Bank, Scotiabank, and Mizuho make up the remainder of the top 10. This report comes as March has already brought deadly weather to places such as the American Midwest, where historic flooding has left four dead and farm losses could reach $1 billion...

With Passage Of NAFTA 2.0, Congress Boosts Fossil Fuel Polluters, Particularly In Mexico

January 22, 2020 By Manuel Perez-Rocha, Inequality.org Educate! Fossil Fuels, NAFTA II, Reform

NAFTA 2.0 cleared another hurdle on January 16 as the U.S. Senate approved the trade deal with bipartisan support. Officially called the United States-Mexico-Canada Agreement (USMCA), the pact has some improvements but remains a handout to large corporations. This is particularly evident in the USMCA rules related to investor rights. One of the most controversial aspects of the original NAFTA was that it allowed private corporations to sue governments in international tribunals, demanding compensation for alleged violations of a wide range of investor “rights.”

Nearly All Americans Want To Get Off Fossil Fuels

January 17, 2020 By Basav Sen, Otherwords.org Create! Energy, Fossil Fuels

Late last year, The Washington Post reported a remarkable poll finding: Nearly half of American adults — 46 percent — believe the U.S. needs to “drastically reduce” fossil fuel use in the near future to address the climate crisis. Another 41 percent favor a more gradual reduction. In short, almost 90 percent of us support transitioning off fossil fuels — including over half of Republicans, whose elected officials overwhelmingly support the industry.

Climate Movement Takes Aim At Wall Street, Because ‘Money Is Only Language Fossil Fuel Industry Speaks’

January 14, 2020 By Jessica Corbett, Commondreams.org Resist! Climate Change, Fossil Fuels, Wall Street

Organized by a coalition of climate, youth, and Indigenous groups, Stop the Money Pipeline will officially launch Friday at the final event in a weekly civil disobedience series that actor and activist Jane Fonda kicked off in October called Fire Drill Fridays. Several vocal climate campaigners plan to join Fonda at the Friday launch, including celebrities Martin Sheen and Joaquin Phoenix, Indigenous leaders Tara Houska and Eriel Deranger, Greenpeace USA executive director Annie Leonard, and authors and activists Naomi Klein and Bill McKibben.

Arctic Drilling Ruling Brings Hope To Native Villages, Subsistence Hunters

January 11, 2020 Sabrina Shankman, Insideclimatenews.org Resist! Arctic drilling, Fossil Fuels, Oil

If there is one place that has most felt the Trump administration's push to rapidly expand fossil fuel development, it might be Nuiqsut, a small village nestled on Alaska's North Slope. The village has become almost entirely surrounded by oil and gas drilling over the past three decades, and the Trump administration has been aggressively pushing for more drilling in the National Petroleum Reserve-Alaska, just west of the village, and off the coast to the north.

Fossil Fuel Producers Should Pay For Australia’s Fires

January 8, 2020 Staff, Yubanet.com Create! Australia, Fossil Fuels, Wildfires

January 6, 2020 – The Australia Institute has welcomed the Government’s $2 billion bushfire recovery fund announcement, but has questioned why regular Australian taxpayers are being asked to pay when a levy on fossil fuel producers would be a more appropriate way to raise the required funding. “Regular Australians should not be forced to pay while fossil fuel producers are being let off scot-free,” says Ebony Bennett, Deputy Director of The Australia Institute.

Members Of Congress Own Up To $93 Million In Fossil Fuel Stocks

January 6, 2020 Alex Kotch, Truthout.org Educate! Congress, Fossil Fuels, Money in Politics

Climate scientists predict climate change will have catastrophic effects in the coming decades if drastic action to reverse it is not taken immediately. Some members of Congress, including Green New Deal resolution sponsors Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Sen. Ed Markey (D-Mass.), are gravely concerned about the mounting threat, but overall, Congress has not met the crisis with the urgency that scientists say is necessary to avoid global tragedy.

New Frontline In Campaign Against Fossil Fuels: Local Bans On Oil & Gas Infrastructure

December 10, 2019 Chris D'Angelo, Huffpost.com Resist! Ban, Fossil Fuels, Oil

Late last month, the Boston suburb of Brookline became the first East Coast city to ban oil and natural gas infrastructure in new construction projects. The bylaw, which the town’s legislative body passed Nov. 20 by an overwhelming 207-3 vote, prohibits gas hookups in new buildings and large renovations beginning in 2021 ― a move proponents say will help the suburb of 58,000 people achieve its ambitious goal of zeroing out greenhouse gas emissions by 2050. There was little organized opposition to the measure following its introduction in August, local elected officials said.

Natural Gas Rush Drives A Global Rise In Fossil Fuel Emissions

December 6, 2019 By Nicholas Kusnetz, Insideclimatenews.org Educate! emissions, Fossil Fuels, pollution

A surge in natural gas has helped drive down coal burning across the United States and Europe, but it isn't displacing other fossil fuels on a global scale. Instead, booming gas use is fueling the global growth in greenhouse gas emissions, according to a new study by researchers at Stanford University and other institutions. In fact, natural gas use is growing so fast, its carbon dioxide emissions over the past six years actually eclipsed the decline in emissions from the falling use of coal, the researchers found.

Wisconsin Governor Signs Bill Punishing Pipeline And Other Fossil Fuel Protests

November 29, 2019 Jacob Crosse, Wsws.org Resist! Fossil Fuels, Pipelines, Protests, Reform, Wisconsin

Wisconsin’s Democratic governor Tony Evers, ignoring opposition from environmental groups, the American Civil Liberties Union and multiple Tribal Nations, last week signed into law Assembly Bill 426. The legislation makes it a felony, punishable with a $10,000 fine and up to six years in prison, to protest, trespass or cause damage to “critical infrastructure,” including transmission lines, fencing, posts and oil pipelines.

Historic Protest At Harvard-Yale Football Game Was Years In The Making

November 28, 2019 Emily Pontecorvo, Grist. Resist! climate crisis, Divestment, Fossil Fuels, Youth

Saturday marked the 136th annual Harvard-Yale football game, a tradition known simply as “The Game” by students and alumni of the rival Ivy League schools. Tens of thousands of people flocked to the Yale Bowl in New Haven to watch. Many more tuned in on ESPNU. But what viewers likely didn’t expect to witness was a historic show of unity between the two schools in the name of fighting climate change. Just before 2 p.m., as the halftime show was ending and the Yale marching band exited the field, about 150 people ran down the steps of the stadium and onto the turf, staging a sit-in near the 50-yard line. They unfurled banners that read “Nobody Wins: Yale and Harvard are complicit in climate injustice,” “Presidents Bacow and Salovey: Our future demands action now,” and “This is an emergency.”

Court Decision Against BLM For Ignoring Climate Impact Results In Suspended Oil & Gas Leases

November 21, 2019 By Nicholas Kusnetz, Insideclimatenews.org Resist! Climate Change, Courts, Fossil Fuels

The Trump administration's relentless push to expand fossil fuel production on federal lands is hitting a new snag: its own refusal to consider the climate impacts of development. The federal Bureau of Land Management's Utah office in September voluntarily suspended 130 oil and gas leases after advocacy groups sued, arguing that BLM hadn't adequately assessed the greenhouse gas emissions associated with drilling and extraction on those leases as required by law.

World’s Largest Bank Ends Fossil Fuel Financing

November 20, 2019 By Alexandra Jacobo, Nationofchange.org Create! Banks, Fossil Fuels, Investment

The bank's decision to end all financing of oil, gas, and coal projects after 2021 will make it the first multilateral lender to rule out financing for projects that contribute to the climate crisis. Environmentalists have a reason to celebrate this week. The European Investment Bank (EIB) announced on Thursday that it will phase out its financing completely for fossil fuels within the next two years. The bank’s decision to end all financing of oil, gas, and coal projects after 2021 will make it the first multilateral lender to rule out financing for projects that contribute to the climate crisis.

How The Fossil Fuel Industry Undermined Climate Science

November 14, 2019 Naomi Oreske, Tomdispatch.com Educate! Climate Change, Climate Science, Fossil Fuels, Science

Scientists have been seriously investigating the subject of human-made climate change since the late 1950s and political leaders have been discussing it for nearly as long. In 1961, Alvin Weinberg, the director of the Oak Ridge National Laboratory, called carbon dioxide one of the “big problems” of the world “on whose solution the entire future of the human race depends.” Fast-forward nearly 30 years and, in 1992, President George H.W. Bush signed the U.N. Framework Convention on Climate Change (UNFCCC), promising “concrete action to protect the planet.”

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