Oil Change International is a research, communication, and advocacy organization focused on exposing the true costs of fossil fuels and facilitating a just transition to clean energy. For media inquiries, please contact: Valentina Stackl at press@priceofoil.org
For the first time in three years of negotiations towards the new climate finance goal due at the end of COP29, we finally have a draft text that includes options for rich countries to pay the scale and quality of finance they owe, and for urgently needed support to flow towards a fair fossil fuel support.
Through its energy forecasts, the International Energy Agency (IEA) has been guiding governments towards energy decisions that are inconsistent with the goals of the Paris Climate Agreement, new research has found.
The report finds that major private banks funneled $115 billion into extreme fossil fuels in 2017, an increase of 11% from 2016. The single biggest driver of the increase in financing came from the tar sands sector, where financing grew by 111% from 2016 to 2017.
Today, Shell released a new scenario which outlines a possible energy future for the world involving massive negative emissions. In response, Greg Muttitt commented, "The lesson is simple: If you want to know how to fix climate change, don't ask a company that wants to sell you more oil and gas."
This new investor briefing examines the current state of the Keystone XL pipeline and the legal, regulatory, and political obstacles that its owner TransCanada continues to face.
Trump’s infrastructure scam is all about greasing the wheels for oil, gas and coal development and his budget funds this massive giveaway. ‘Streamlining’ critical environmental review really means steamrolling landowners and putting a muzzle on communities when they resist oil and gas pipelines being built through their backyards for private profit.
"It's cynical and reckless to provide relief for climate-related disasters with one hand, while essentially paying Big Oil to worsen the climate crisis with the other. Transferring billions of dollars from hard-working taxpayers to ultra-rich oil companies to extract more fossil fuels will not make our country safer or stronger."
As we approach the Global Climate Action Summit, hosted by Governor Brown later this year, now would be a fantastic moment for the Brown-Newsom administration to announce new steps to limit fossil fuel extraction in the state writ large. The case for a managed phase out of fossil fuel production in California is clear, they simply need to read their own letter released today.
Given EIA's shoddy track record, today's Annual Energy Outlook projecting climate doom leaves us feeling quite confident that we'll continue to kick our fossil fuel addiction and tackle our climate crisis.
Today, more than 30 environmental, health and social justice organizations urged Congressional leaders to exclude an extension of the tax credit for carbon dioxide enhanced oil recovery from any spending bill.
Calling this disaster of a plan simply an infrastructure plan doesn’t do the nightmare justice. It’s a Make Big Oil Happy plan. It’s a More Climate Disasters plan. It’s a Taxpayer Dollars in Oil Executives’ Wallets plan. It’s a Bankrupt Our Communities plan.
