The solution to both the US and UK decisions to stop importing Russian oil and gas is not to drill for more oil, either in the US or UK – something the fossil fuel industry and its supporters are already arguing. It is to invest in renewables and alternatives such as heat pumps and weatherization.
For decades Big Oil courted Putin and helped him exploit Russia’s vast reserves. Big Oil poured billions into Russia’s war chest with devastating consequences.
Increased recognition from governments, institutions, and even parts of the financial sector of the role of fossil fuels in climate change represents a sea change from where we were even just a few years ago. The importance of phasing out oil and gas are now featured in climate policy discussions across all sectors.
Two prominent African environmentalists are pushing back against those advocating for more fossil fuel drilling on the continent. They argue that “far from generating prosperity and stability in sub-Saharan Africa, investments in fossil fuels cause real harm,” noting “Decades of fossil fuel development have failed to deliver energy to much of the continent” and “have deepened inequality, caused environmental damage, stoked corruption, and encouraged political repression.”
As I write the dire threat of war once again hangs over Europe after the Russian President, Vladimir Putin, recognised the self-proclaimed republics in Luhansk and Donetsk in Eastern Ukraine and ordered his troops over the border.
There are always those who will want to profit from war or the threat of war, as unscrupulous as it may seem. And for the American oil and gas industry there is no exception.
Embedded into the story of the struggle against Big Oil in Ecuador is the American lawyer: Steven Donziger. His story adds another layer of torrid injustice in the fight to hold Big Oil accountable. His story needs to be told.
A new briefing released today by OCI reveals that over the last ten years Norway, which calls itself a climate leader, has become Europe’s “most aggressive explorer for new oil and gas.” It is climate hypocrisy..
On the back of spiralling gas prices, the oil giant Shell today announced it had quadrupled its profits to over £14.2bn in 2021. Ben van Beurden, Shell’s chief executive, who received a pay package of more than €6 million last year, said 2021 had been a “momentous year” for the business.
Just weeks after hosting the COP26 summit, and despite still holding the COP Presidency, Boris Johnson’s government has given the go ahead for the Abigail oil and gas field off the east coast of Scotland.