Last week, a new scientific report was published looking at climate tipping points. As one of the authors notes: “The world is heading towards 2-3C of global warming. This sets Earth on course to cross multiple dangerous tipping points that will be disastrous for people across the world”.
Belgian export credit agency restricts oil and gas finance to meet climate commitment, but leaves gas loopholes
Credendo’s new policy is meant to implement the Glasgow commitment to end international public finance for fossil fuels by the end of 2022, but it leaves loopholes for existing oil and gas fields and gas-fired power.
Study: Existing oil, gas, and coal extraction sites need to be closed down to stay within 1.5C, findings show
A new peer-reviewed study published in Environmental Research Letters finds that existing oil, gas, and coal extraction sites need to be closed down to stay within 1.5C. The study, led by researchers at Oil Change International and the International Institute for Sustainable Development, finds that nearly 40% of developed fossil fuel reserves need to stay in the ground to keep the 1.5°C limit in reach.
American LNG is not the answer to European gas crisis
One of the leading trade associations promoting fracking in the U.S. sees Putin’s war in Ukraine as a flagrant opportunity to sell more LNG gas. And lots of it. They are calling on the U.S. to “unleash American energy’s strength and security”.
American gas lobby spins Ukraine crisis to push for expansion of dirty US LNG
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.
Despite still holding the COP Presidency, UK Government approves new oil field
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.
Exxon’s 2050 net zero pledge dismissed as “greenwashing” and “gaslighting”
ExxonMobil is a company that for decades has done more than any other to spread climate denial. But now the climate laggard wants you to believe it is becoming a climate champion.
Half of world’s fossil fuel assets could become stranded by mid 2030s
Scientists are warning that “large quantities of fossil fuel reserves and resources are likely to become ‘unburnable’ or stranded if countries around the world implement climate policies effectively”. And up to half the world’s fossil fuel assets could be stranded by the mid 2030s
Will Norway’s new government act on the need to phase out oil and gas?
The Parliament election in Norway, Europe’s largest oil and gas producer, ended up securing support for a shift in Government, from today’s Conservative-coalition government to a Labour-coalition government. Talks and negotiations are happening over the next weeks, and one of the biggest issues is the future of the Norwegian oil and gas industry. Will Norway’s new government pass a more restrictive oil and gas policy?
IEA’s first 1.5°C model closes the door on new fossil fuel extraction
The IEA has consistently boosted new oil and gas development. Now it’s backing up the global call to stop the expansion of fossil fuel extraction.