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Following the armed insurrection at the United States Capitol building on January 6, several major oil companies have announced that they will be suspending their political giving and reviewing their future giving criteria.
Why This Matters: Fossil fuel money is shunned by most Democrats. But this could mark the end of a long love affair between the fossil fuel industry and the GOP.
Continue Reading 521 wordsThis week we sat down with Dr. Michael Mann, distinguished professor of atmospheric science at Penn State University to talk about his new book The New Climate War in which he examined a century of history to break down science misinformation tactics deployed by industries like tobacco and oil and gas that were used to […]
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The sale of oil and gas drilling rights in the Arctic National Wildlife Refuge (ANWR) was supposed to bring in upwards of $1 billion, but in the end, the first of the auctions mandated by Congress at the urging of President Trump brought in only $14M.
Why This Matters: Banks won’t underwrite Arctic drilling, so it is unclear those ANWR leases will be drilled ever.
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President Trump will go down in history as having engaged in a fast and furious attempt to roll back decades of progress on environmental laws, particularly in his final few months in office. Nothing epitomizes these relentlessly punitive rollbacks more than the absurdity of his obsession with undoing water efficiency requirements for toilets, dishwashers, showerheads, and washing machines.
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When 2020 began, even with oil prices relatively strong, many industry analysts were predicting it was the beginning of the end for oil and gas. And then the pandemic hit and the Saudis and Russians decided to take advantage of the downturn. With supplies still high and demand declining, the industry may never be the same again.
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This week, following a U.N. report showing that methane levels in the atmosphere are at an all-time high, more than 60 oil and gas companies joined a new voluntary agreement to report and reduce their emissions. The companies making the pledge represent 30% of global oil and gas operations, but none of them were American.
Why This Matters: According to the International Energy Agency (IEA), the global oil and gas industry produced 82 gigatons of methane in 2019 alone.
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