Oil Change International publishes upwards of 20 reports and briefings every year focused on supporting the movement for a just phase-out of fossil fuels.
There is a clear logic that can be applied to the global challenge of addressing climate change: when you are in a hole, stop digging. If we are serious about tackling the global climate crisis, we need to stop exploring, expanding, and ultimately exploiting fossil fuels. This is especially true for high cost, high carbon, high risk frontier projects such as offshore Arctic oil.
An examination of crude-by-rail data shows that the U.S. east coast has become one of the busiest regional destinations for hazardous crude-by-rail traffic. Oil Change International used publicly available Department of Energy (EIA) data as well as subscription data from Genscape to examine the growth of crude-by-rail to one of the most densely populated areas of the United States.
Today we’re releasing a new briefing, entitled “Lift the Ban, Cook the Climate: Why Eliminating the Crude Export Ban Fails the Climate Test,” detailing why Congress and the President should stand up to current efforts by the oil industry to eliminate the ban on crude oil exports.
Combining all known public sources, and augmenting them with subscription industry databases, this report makes comprehensive information on public financing for coal easily accessible for the first time.
The Canadian tar sands is among the most carbon-intensive, highest-cost sources of oil in the world. Even prior to the precipitous drop in global oil prices late last year, three major projects were cancelled in the sector with companies unable to chart a profitable path forward.
Despite repeated calls for urgent action on climate change, the World Bank Group increased funding for fossil fuels in its last fiscal year. The World Bank’s increase in fossil fuel finance is especially disappointing as 2014 was the first full fiscal year following the World Bank’s commitment to limit coal financing due to climate concerns.
Shell is currently moving its drilling rigs to Seattle in anticipation of resuming its US offshore Arctic drilling programme in July. However, it is far from clear that Shell has adequate physical or financial plans to deal with the impacts of a major oil spill in this remote region.
This analysis finds that over the last decade, export credit agency financing has played a significant role in supporting coal power generation globally. Most alarmingly, OECD export credit financing for coal has substantially increased in recent years.
This briefing examines Shell's Arctic experiences and outlines key operational and economic issues. We suggest questions investors should ask Shell, to understand whether the company has adequately assessed the various risks it faces.
Public support for fossil fuel exploration in rich countries is nearly triple the amount pledged to the Green Climate Fund.
