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.
This briefing reveals that over the last 10 years, the Norwegian government awarded as many exploration licenses (700) as in the 47 years prior, making Norway Europe’s most aggressive explorer for new oil and gas. Norway claims to be a climate leader, but its actions suggest otherwise.
A new briefing finds that New Mexico cannot meet its commitment to global climate goals if it allows a massive expansion in oil and gas production.
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.
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 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.
Frozen Future' warns investors of the risks to shareholder value from Royal Dutch Shell’s Alaskan Arctic drilling program.
