Two weeks before global leaders gather for the UN Climate Ambition Summit in New York, new analysis by Oil Change International shows that several major countries continue to pump $4.4 billion in public finance into international fossil fuel projects despite committing to end this support by the end of 2022.
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.
With parts of the Eastern US flooded and West burning, the Biden Administration has lost a court case, forcing it to open up 80 million acres for drilling in the Gulf of Mexico.
API is not to be trusted when it comes to climate and energy policy. They have stood in the way of climate action for decades, and continue to spout myths in order to protect the bottom lines of its Big Oil and Gas members.