Read the latest insights and analysis from the experts at Oil Change International.
A new academic study, accepted for publication in Harvard Environmental Law, asks the pertinent question about Big Oil and climate change: “Given the extreme lethality of the conduct and the awareness of the catastrophic risk on the part of fossil fuel companies, should they be charged with homicide?”
In a blistering attack at the World Economic Forum this morning, the UN Secretary-General, António Guterres, accused the fossil fuel industry of having a “business model” that “is inconsistent with human survival".
ExxonMobil is a company that for decades has done more than any other to spread climate denial. But now the climate laggard wants you to believe it is becoming a climate champion.
As Big Oil loses billions, the global ratings agency, S&P has announced it was placing ExxonMobil, Chevron, Shell and Total on a so-called “credit watch”.
Despite the warnings for years that we cannot burn new reserves of oil if we want a liveable climate, the West's top nine oil majors alone are sitting on more than 28 billion barrels of oil equivalent of undeveloped resources. Much of this could end up going from being an asset to a liability, just as many predicted.
For those hoping that the duel whammy of the pandemic and our climate emergency would belatedly and finally pivot Exxon away from fossil fuels, this is not going to happen. The company just wants to carry on drilling.
A new report argues that "widespread deception by fossil fuel executives regarding the financial risks of climate change, represents a ticking time bomb that, if not addressed, could contribute to worldwide economic devastation.”
Big Oil’s decades' old campaign to deny, deceive and delay action on climate change has been thrust into the spotlight again after the Attorney Generals for Minnesota and the District of Columbia (D.C.) both launched legal action against the industry within 24 hours of each other.
Exxon, which has been bruised, battered and bloodied by a catastrophic collapse in the oil price, and is haemorrhaging money, wants us all to drive over a climate cliff too. It is reckless corporate behaviour, which the executives must know will cost lives.
