Nobel Peace Laureates have added their voices to the call to permanently protect the Arctic from oil and gas exploration and production. In a letter sent today to members of the Arctic Council, the signatories point out that, “nations who share borders in this remarkable region also share an obligation to protect it…both by tackling … Read More
Stranded Assets
Tar Sands Companies “Selling Crown Jewels” to Survive
Desperate times mean desperate measures. Something has to give. With no end in sight to the low oil price, Canadian tar sands companies are having to sell what are being described as their “jewels in the crown” in order just to survive.
BP Finally Admits Not All Oil Will Be Burnt
For some years now a growing number of activists, scientists and analysts have been warning that, if we are going to keep global warming to 2 degrees Celcius, that a significant quantify of fossil fuel reserves can never be burnt.
Global Climate Movements Seek Fossil Fuel Company Transparency on Future Viability of Oil, Coal, Gas
FOR IMMEDIATE RELEASE October 13, 2015 Contact: Hannah McKinnon, hannah [at] priceofoil [dot] org Global Climate Movements Seek Fossil Fuel Company Transparency on Future Viability of Oil, Coal, Gas Heinrich Böll Foundation, Oil Change International, Climate Justice Programme Global reporting standards for extractive industries must include transparency from fossil fuel companies about the future viability of their … Read More
Carney’s Talk a “Sobering Climate Change Wake-up Call for Canadians”
The speech by Mark Carney, the Governor of the Bank of England, earlier this week about the risks of climate change and “stranded assets” has certainly stirred up the debate about global warming.
What went right? Why Shell lost its bet in the Arctic
Royal Dutch Shell announced this morning that it would be abandoning its exploration program in the U.S. offshore Arctic for the “foreseeable future” (see our response here). After more than 7 billion dollars and many seasons of almost unbelievable mishaps – Shell made the call along with an announcement that this season’s efforts had failed … Read More
How low can it go? Collapsing crude in election season
In the lead up to the Canadian federal election, the economy is front and centre, but not in the way the incumbent government would have liked. The Conservatives have gone to great lengths to brand themselves as good economic managers, but with the Canadian dollar hitting its lowest point in over a decade, their election … Read More
A love hate relationship: The President’s new climate change video
Yesterday, the President released a video that I desperately want to love. It’s powerful, visually striking, and the rhetoric is near bang on. Announcing an upcoming trip to Alaska, President Obama confronts the need for climate action head on. He is going to Alaska, he says, because it is on the front lines of climate … Read More
Untouchable: The climate case against arctic drilling
When you think of the Arctic, you may picture vast glaciers, frigid waters, miles of ice, and probably the quintessential polar bear. The Arctic has been the final frontier for centuries: the ends of the earth. But a new reality is setting in in the region – a reality of a changing climate, and the … Read More
Shell’s big bets – a sign of desperate times?
The conclusion of an article in the Financial Times the other day was that there was only one way to explain three recent major bets by Royal Dutch Shell, including its 7 billion dollar bet (and counting) on Arctic Oil: the company must know something we don’t because objectively these plays don’t make a lot … Read More