This week the seemingly impossible happened: U.S. oil futures prices went negative for the first time in history. What happens next is up to us.
Day: April 22, 2020
New briefing: Facing COVID-19, Governments Must Prioritize Building Resilient Societies over Fossil Fuel Bailouts
A new briefing from Oil Change International argues for a managed decline of the oil and gas sector as an essential part of recovery from the COVID-19 crisis.
In the Face of COVID-19, Governments Have a Choice: Resilient Societies or Fossil Fuel Bailouts?
The COVID-19 crisis poses a threat to people’s health, their jobs and their lives, and like all crises, exacerbates already existing inequalities. Trillions in public finance will be needed to get through the current pandemic. This briefing outlines why continuing to rely on fossil fuels, in particular oil and gas, is not compatible with long-term recovery. It does not make sense to use the COVID-19 stimulus packages to try to revive a sunsetting industry which will not deliver on economic recovery, only to shut it down a few years later to meet climate goals.
Still Off Track: How the IEA’s 2019 World Energy Outlook Undermines Global Climate Goals
This briefing provides a technical analysis of how the International Energy Agency’s (IEA) 2019 World Energy Outlook (WEO) continues to steer governments and investors off track in tackling the climate crisis.