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by Amy Lupica, ODP Staff Writer Oil company BP has embarked on a gas-drilling project off the coast of Senegal and Mauritania in West Africa. The company is calling the project the first step in a series of projects in the region. The project borders the world’s largest cold-water coral reef, and the company, which pledged to reach net-zero […]
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New York state selected Norwegian energy giant Equinor to build and supply clean energy from two offshore wind facilities in one of the largest renewable energy deals ever in the United States, according to Reuters.
Why This Matters: Offshore wind projects are a highly anticipated source of clean, renewable energy — but have been hard to get off the ground so far.
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On Tuesday, the Supreme Court will hear arguments on this issue in BP Plc v. Mayor & City Council of Baltimore, which could determine whether or not oil companies are held accountable for climate change damages to cities and states.
Why This Matters: If SCOTUS rules in favor of BP, future climate litigation will likely be fought in federal courts, which experts say are “less responsive to expansive legal theories,” and thus less likely to rule in favor of these innovative new climate cases based on state law. Whoever wins this case will have a leg up in future climate litigation.
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Yesterday, the world’s leading oil producers, the Organization of Petroleum Exporting Countries (OPEC), projected a larger decrease in oil demand than was predicted earlier in the pandemic. The Hill reported that OPEC predicts oil demand will drop by 9.46 million barrels per day (bpd) rather than 9.06 million bpd.
Why This Matters: Big oil and gas companies like BP may be trying to put a good face on the bleak prognosis for oil, while they try to remain sunny about gas.
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As Greentech Media reported, oil and gas giant BP announced yesterday that it will cut its oil and gas output by 40% by 2030 and increase its low-carbon investment tenfold by then as it begins to detail its 2050 net-zero strategy. This announcement comes after BP head of strategy Giulia Chierchia told investors on a […]
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Late on April 20, 2010, the deepest oil well in history at that time (operating at a vertical depth of 35,050 feet) exploded killing 11 people and it began spewing oil. An estimated 210 million gallons flowed into the ocean over the course of 87 days.
Why This Matters: It is a faded memory, but for those who lost everything in the spill, it is hauntingly familiar to the current COVID crisis.
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