A new analysis finds that six major multilateral development banks provided over $7 billion in public financing for fossil fuels in 2015, and over $83 billion in financing for fossil fuels from 2008 to 2015, despite public claims of the urgent need for action on climate.
This analysis examines the banks that are in line to finance the Mountain Valley Pipeline, a 301-mile, $3.5 billion fracked-gas project proposed to run from West Virginia through south central Virginia.
Risk guarantees and credit enhancement programs that subsidize coal-fired power plants could cost the Government of Indonesia and Indonesian ratepayers as much as tens of trillions of rupiah – many billions of U.S. dollars – over the coming decade.
As part of a series of briefings on proposed Appalachian gas pipelines, Oil Change International’s new analysis finds that the PennEast Pipeline would result in the emissions equivalent the 14 coal plants, or 10 million passenger vehicles.
Part of a series of briefings on proposed Appalachian gas pipelines, Oil Change International finds that the Atlantic Coast Pipeline would cause the emissions equivalent of 20 coal plants or 14 million passenger vehicles.
Part of a series of briefings on proposed Appalachian gas pipelines, Oil Change International finds that the Mountain Valley Pipeline would cause the emissions equivalent of 26 coal plants or 19 million passenger vehicles.
Each year, federal and provincial governments pay billions in hand-outs to Canada’s coal, oil and gas companies, undermining both existing and proposed climate action in Canada.
Canada does not need new pipelines, in spite of repeated misleading claims by the oil industry. That’s the conclusion of a new Oil Change International (OCI) analysis showing that Canada has ample pipeline Capacity to export all existing and under construction oil production to market from western Canada.
Dakota Access should be stopped immediately for a long list of reasons. But we must also stop billions of taxpayer dollars from flowing to fossil fuels.
The recently released draft five-year plan for offshore oil and gas drilling is predicated on a failure to act on stated climate policy. To remedy this, the U.S. government should act quickly to implement a climate test in order to evaluate energy decisions on the basis of our national and international climate commitments.