*Updated February 2024* Oil Change International analysis shows that several major countries continue to pump $6.2 billion in public finance into international fossil fuel projects despite committing to end this support by the end of 2022.
United States
Banking on Destruction: The Role of Major Banks in the Mountain Valley Pipeline
US main street banks like Wells Fargo and Bank of America have provided loans to Mountain Valley Pipeline since the beginning. These banks have continued pouring money into the project over recent years, despite numerous warnings that the project has been financially unsustainable, a threat to the climate and environmental justice communities in Appalachia.
Response: Congress betrayed people and the planet, but the Mountain Valley Pipeline will not be built
“By voting for a dirty deal that fast-tracks the Mountain Valley fracked gas pipeline and guts bedrock environmental laws, Congress betrayed people and the planet.”
Biden at risk of breaking climate promise with $500 million of public finance for LNG imports in Poland
Next week, the U.S. International Development Finance Corporation is likely to consider a $500 million guarantee to help Polish oil and gas company PKN Orlen increase its imports of U.S. LNG, violating Biden’s commitment to end public finance for fossil fuels by the end of 2022.
Response: Debt ceiling bill is a disaster filled with poison pills Congress must reject
“This is a manufactured crisis designed specifically to hurt working people, and our leaders don’t have to participate in this deadly charade. Congress should reject these poison pills that have no relation to the debt ceiling and pass a clean increase,” said Collin Rees.
Response to the U.S. Supreme Court curtailing the Clean Water Act
“Instead of laws that strip communities of their power to decide what happens in their backyards, we need laws that put people before polluters,” said Allie Rosenbluth.
Response to Republicans attempting to attach dirty deal to must-pass debt ceiling legislation
“We must draw a red line and say no to Republicans taking our economy hostage to line the pockets of the fossil fuel industry,” said Allie Rosenbluth.
Groups Pressure Japan, Biden to Oppose Global LNG Expansion + Stop G7 Push for Fossil Finance
“Our communities and climate cannot afford more fossil fuels, nor more dangerous distractions like carbon capture, hydrogen, or ammonia — it’s long past time to end the era of fossil fuels,” said Collin Rees.
Biden breaks major G7 climate promise by financing Indonesian oil refinery
“Biden’s claims to be a climate leader are increasingly laughable after EXIM’s approval of this refinery. If he can’t be trusted to keep this relatively modest promise, how can anyone trust the United States to live up to its even grander climate promises?” asked Adam McGibbon.
Response: New U.S. power plant regulations fail to address massive planned fossil fuel expansion
“Until Biden reins in Big Oil’s deadly expansion that’s locking in decades of global fossil fuel pollution, his legacy will remain one of failing to confront reckless U.S. oil and gas production that’s killing the planet,” said Collin Rees.