Read the latest insights and analysis from the experts at Oil Change International.
We need to act now to reduce emissions to reduce killer heat and killer floods. And yet only 10 per cent of the $17 trillion spent by governments on post-COVID bailouts has been directed to cutting greenhouse gas emissions and restoring nature.
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”.
A new report, published today by UNEP and other environmental groups, outlines the “Production Gap”, the discrepancy between countries’ planned fossil fuel production and global production levels consistent with limiting warming to 1.5°C or 2°C.
Decisions taken in response to the COVID-19 crisis today will lock in the world’s development patterns for decades. With policy decisions made on a daily basis, information about how public money is being spent can be hard to follow. That is why a consortium of 14 expert organizations came together to track energy-specific responses by G20 governments.
As governments begin to unveil trillions of dollars in recovery support and stimulus, now is the time to break old habits – such as the USD 77 Billion in public money that the G20 is still spending annually to finance oil, gas, and coal projects.
Oil Change is producing weekly news and resources updates on the fight against oil and gas as part of our response to the COVID-19 crisis, as a supplement to the monthly OilWire editions we produce with the Global Gas & Oil Network.
OCI is producing weekly news and resources updates for allies as part of our response to the COVID-19 crisis.
You cannot underestimate that seismic shift going on as investors, often drunk on big oil profits, now just face uncertainty and loss. The oceans are awash with bobbing tankers full of oil, with no market to sell them. The industry is paralysed by the pandemic.
