“Shell has been a leader in peddling the gas myth for a decade or more, and it’s now clearer than ever that gas is over-supplied, over-hyped, and out of time.”
“We will not stand by as law enforcement and a toxic chemical company from Taiwan attempt to scare, silence, and intimidate us. We will not be silent.”
A report from the financial auditing firm Deloitte says the “reality is that the shale boom peaked without making money for the industry in aggregate. In fact, the US shale industry registered net negative free cash flows of $300 billion, impaired more than $450 billion of invested capital, and saw more than 190 bankruptcies since 2010.”
Big Oil’s decades’ old campaign to deny, deceive and delay action on climate change has been thrust into the spotlight again after the Attorney Generals for Minnesota and the District of Columbia (D.C.) both launched legal action against the industry within 24 hours of each other.
The Arctic is boiling and the whole Arctic food chain is at risk. It is a stark warning and one that demands an immediate response by politicians and policy makers.
For years Big Oil has repeated the dirty tactics of Big Tobacco. And once again it has been found doing so again.
This is a big moment for Big Oil. Climate reality has finally caught up with BP’s corporate dreamland that it could carry on drilling forever.
Even before the current COVID-19 crisis, coal was in trouble due to its high carbon content, coupled with high costs. But COVID-19 is accelerating that decline. And once coal is gone, it is not coming back.
The Norwegian Government has just given lucrative tax breaks to the oil industry to carry on drilling, despite the urgent need to tackle our climate emergency.
We have leading experts warning that trillions could be at stake as the fossil fuel industry suffers a terminal and structural decline, but all governments do is pour billions more away on fossil fuels in COVID-19 recovery plans. It is nonsensical. There should be no Big Oil & Gas bailout.