We have entered the “end game” for oil — with “permanent demand destruction”
As we have been repeatedly saying for months, we are witnessing the end of the oil age. Even once great giants are now crumbling at their core.
Read the latest insights and analysis from the experts at Oil Change International.
As we have been repeatedly saying for months, we are witnessing the end of the oil age. Even once great giants are now crumbling at their core.
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.”
2020 is continuing to bring deeply worrying climate news from both the Arctic and also Antarctic.
A new analysis from Bailoutwatch concludes that "fossil fuel companies participated in the government’s Paycheck Protection Program to bail out small businesses at far higher rates than companies in other key sectors".
While COVID-19 continues to spread across the globe, our climate emergency continues to worsen. Breaking news this week from climate scientists is that we have just completed the hottest 12-month period in recorded history.
The political system is broken. There may be tens of millions people demanding a just transition, but we live in a system of embedded cronyism, that rewards people closest to those in power.
The burning, melting, warming Arctic is clearly a sign that something is wrong and we need to stop investing in fossil fuels now.
"Shell has been a leader in peddling the gas myth for a decade or more, and it’s now clearer than ever that gas is over-supplied, over-hyped, and out of time.”
A report from the financial auditing firm Deloitte says the “reality is that the shale boom peaked without making money for the industry in aggregate. In fact, the US shale industry registered net negative free cash flows of $300 billion, impaired more than $450 billion of invested capital, and saw more than 190 bankruptcies since 2010.”
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.