How long can Exxosaurus hold out before it takes action? It may dismiss concerns from environmentalists but it is coming under increasing pressure from shareholders to take decisive action over climate change. This time its pressure from the treasurers of seven US states and one city who are pressuring Exxon’s board of directors for a meeting on its plans to address climate change.

The United States is addicted to oil and we're working with allies and tens of thousands of citizens to intervene. Check out this great new flash video, take action, and please pass it on!

Meanwhile, like the addicts that they are, G8 leaders focussed this year's St. Petersburg Summit on promoting trillions of dollars of investment in new fossil fuels, that will keep on fuelling our oil addition. This, in turn, will keep oil prices high. We've just released a new Policy Brief with the Jubilee USA Network entitled High Oil Prices: Undermining Debt Cancellation and Fueling a New Crisis? (pdf).

Russia’s President Vladimir Putin is said to have “icily” rejected US and EU criticism of Russia's blatant use of gas resources as a political weapon in a dispute with Ukraine earlier in the year.
More importantly he also publicly rebuffed European attempts to gain access to his country's vast gas pipeline network. Putin’s tough stance at a one day EU-Russian summit on the Black Sea, has increased tension between Russia and the EU, and it sets the stage for a "fractious summit" of G8 leaders in St Petersburg in July, where energy security is top of the agenda.