Read the latest insights and analysis from the experts at Oil Change International.
Washington DC is still reeling this morning with the news that Donald Trump yesterday sacked FBI director, James Comey. Ostensibly, the White House is saying that Comey’s firing is all about his botched investigation into Clinton’s emails. But everyone knows that is not the truth.
If those attempting to build the Dakota Access pipeline hoped that the protests against the pipeline and those funding it would fizzle out in 2017, they would have watched in despair at the events which unfolded at the US Bank Stadium in Minneapolis on Sunday.
The protests by First Nations against the North Dakota pipeline are beginning to rattle the funders behind the highly controversial scheme. This means that the pipeline that once seemed unstoppable is increasingly looking vulnerable.
First Nations who are battling the North Dakota Access Pipeline are now seeking another way to stop what has become the most controversial fossil fuel project in the world.
For years, the oil industry and its powerful friends in Congress talked of a shale gas utopia where fracking would lead to energy independence in for US.
New BankTrack report highlights that commercial banks are ignoring climate limits, financing a record US$88 billion for coal operations in 2013.
Slowly but surely the world’s banks are waking up to the dangers of climate change and the idea that carrying on investing in fossil fuels might be a risky and reckless idea.
Two important actions were added to the growing list of recent global steps curbing public finance for coal. First, the European Bank for Reconstruction and Development (EBRD) joined the World Bank and European Investment Bank (EIB) in adopting a new Energy Strategy that significantly restricts support for coal power projects. As the second climate feat of the week, the U.S. government voted no on the Board of the Asian Development Bank (ADB) for a proposed coal power plant in Pakistan. However, even though the U.S. and several other countries voted no or abstained from supporting the Pakistan coal plant, the ADB board still had a simple majority, and therefore approved $900 million in funding for the 600 MW Jamshoro coal plant.
Whether you’re from Europe or the US, your tax dollars are helping them finance climate-damaging fossil fuel projects, thanks to the EBRD. But that can change.
