US non-profit Ceres has produced a paper aimed at explaining actions that oil and gas exploration and production companies (E&Ps) can take to reduce their emissions. It is also supposed to provide useful information on climate alignment to the sector’s investors and bankers.
The paper suffers from a number of alarming weaknesses which threaten to reverse progress on setting standards for net-zero finance. Consequently, Reclaim Finance, Oil Change International, urgewald, CIEL, and Stand.Earth have jointly published this analysis in response.
FOR IMMEDIATE RELEASE May 25, 2023 French oil major responsible for more climate pollution in 2022 than France – its own emissions targets allow same level of greenhouse gas pollution through 2030 [Paris, France] – New analysis released ahead of TotalEnergies’ annual shareholder meeting shows the French oil and gas major used record 2022 profits … Read More
Our new report finds that Cheniere’s new lifecycle emissions tags appear to be pinned to a misleading methane emissions analysis that woefully undercounts actual leakage volumes.
Last year, we rated ExxonMobil as “grossly insufficient” on all ten of the criteria. There are tiny steps forward in the new announcement, but nothing that changes any of our ten metrics from “grossly insufficient” to “insufficient,” let alone to even “partial alignment.”
Proponents of the Keystone XL pipeline regularly claim that the pipeline will replace heavy oil from Venezuela and elsewhere if it is built. In fact just this week, Rep. Lee Terry (R-NE) claimed that Venezuela’s recent offer of asylum for whistleblower Edward Snowden is somehow a reason to approve the pipeline. The reality is that crude delivered … Read More
The U.S. oil boom is a clear threat to the tar sands market in the Gulf Coast. The State Department failed to acknowledge this in the SEIS.
The Keystone XL Pipeline’s social cost of carbon could be as much as $100 billion per year. Until government agencies properly account for the cost of climate change caused by major fossil fuel infrastructure, projects like Keystone XL will continue to impose disproportionate costs on society.
New data reveals that a full 60 percent of gasoline produced at Keystone XL refineries was exported.
Talk of US crude exports apparently reached new heights this week at the Platts North American Crude Oil Marketing Conference, which ends today in Houston. It has been a familiar cry at such shindigs for the past year or so, with the industry increasingly confident to come out in public with the controversial message that … Read More
ExxonMobil presented its latest Energy Outlook report recently, the 2013 Outlook for Energy: a view to 2040. The report is chock full of figures and graphs showing an inexorable rise in global energy demand and supply and the growing market for Exxon’s products.