As We Boil, Big Oil Finally Admits It Can’t Burn All its Oil
The head of Strategy for BP, Dominic Emery, has admitted that some of the company's oil and gas “won’t see the light of day.”
Read the latest insights and analysis from the experts at Oil Change International.
The head of Strategy for BP, Dominic Emery, has admitted that some of the company's oil and gas “won’t see the light of day.”
Affirming that “science is not negotiable” in the halls of a UN conference center and acting on that fact in one’s own policy decisions can be two different things. What counts for the climate is action to manage a rapid and just transition off of fossil fuels.
To coincide with the G20 summit last week, thousands of activists from around the world - in Japan, Indonesia, India, the Philippines, Bangladesh, Pakistan, Australia, the US - mobilized to protest against Japan’s continued financing of dirty coal.
The warning could not be more stark. As the world warms, we face a “climate apartheid,” where the rich "escape overheating, hunger, and conflict" in an increasingly small geographical area, whilst the rest of us are “left to suffer."
“There is no regulatory framework for fracking that will keep the toxins out of air and water, or will protect the climate from carbon and methane releases. It can’t be done. It can’t be made safe. Like lead paint, we finally have to ban it."
One of Britain’s biggest fund managers has started selling shares in Exxon Mobil, "saying America’s largest oil company isn’t doing enough to address climate change.”
For IEA scenario reform, the devil is in the details. The IEA must develop a 1.5°C scenario that is aligned with the goals of the Paris climate agreement and address the concerns of key WEO users. Anything less would be easy to discount as greenwashing or another example of the pro-fossil fuel bias at the IEA.
The European Investment Bank (EIB) is the world’s largest multilateral lender, bigger even than the World Bank. As a public bank, it’s tasked with providing finance in the EU public interest, and it has an outsized influence on the EU’s energy system because of the private investment it can “crowd in” and the sheer amount of money it has at its disposal.
"This is like declaring war on cancer and then announcing a campaign to promote smoking."
"Every year there’s a new temperature record, it’s getting worse and worse and you feel like a broken record saying it. This should be the number one urgent conversation happening right now because it’s not just going to be Alaska, it’s going to be other communities all over the US"