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Oil Investors: Now Is Probably The Time To Get Your Money Into Electric Cars

Even if you haven’t been convinced by the rock-bottom price of oil or the divestment movement and the risks of climate change to get your money out of oil investments, you may want to pay attention to what’s going on right now with electric cars.

The age of plug-in electric cars is swiftly approaching. Chevy, Nissan, and Tesla plan to soon start selling electric cars in the $30,000 price range that can travel more than 200 miles on a single charge. Tesla’s Model S already outsells the competition in the large luxury class in the US.

BMW, Ford, Volkswagen, and virtually every other major car manufacturer are all looking to get in on the electric vehicle game too, and are investing billions. Even tech giants Apple and Google are hoping to develop the next hot electric car.

As Bloomberg puts it, “This is a problem for oil markets.”

California Regulators Are Approving Fracking Wastewater Disposal Permits Near Fault Lines

New research indicates that nearly 40 percent of new wastewater injection wells approved over the past year in California are perilously close to fault lines, increasing the risk of man-made earthquakes in the already seismically active Golden State.

The Center for Biological Diversity (CBD) found that 13 out of 33, or 39 percent, of new drill permits for wastewater disposal wells issued by regulators with California’s Division of Oil, Gas, and Geothermal Resources (DOGGR) between April 2015 and March 2016 were for drill sites within 5 miles of a fault.

The CBD also found that 26 of the 33 rework permits for wastewater disposal wells granted by DOGGR over that same period were for wells within 5 miles of a fault. Rework permits are required when a company wants to re-drill a well or alter a well casing.

Feds Rely On Industry-Funded Study To Push For More Offshore Oil Exploitation

On Monday, April 25th, President Barack Obama tweeted out the following message to nearly 74 million followers on Twitter:
 

The tweet garnered thousands of shares and likes, and on the surface it appeared to be a genuine plea for action on climate change. But as we’ve seen all too often from this administration, what they say in public rarely matches what takes place behind closed doors.
 
Less than one day after President Obama tweeted out that message on climate change, David Sirota and Ned Resnikoff from the International Business Times aimed a spotlight at the Obama administration’s hypocrisy in an investigative piece that exposed again the fossil fuel industry's influence over our government. Prior to that, the Public Accountability Initiative had revealed the massive influence that the industry had over the government's assessment of the economic impacts of offshore drilling.

Groups Call On Obama To End Crude Oil Exports In Wake Of Paris Climate Agreement Signing

175 nations signed the Paris Climate Agreement last Friday, setting a record for the most countries to sign a U.N. agreement on opening day.

Earlier in the week, even before Secretary of State John Kerry officially signed on behalf of the U.S. with his granddaughter in his lap, more than 300 environmental, faith, health and social justice organizations filed a legal petition calling on the Obama Administration to declare a national emergency and end all U.S. crude oil exports as a means of meeting its commitments under the Paris Agreement.

According to the groups, led by the Center for Biological Diversity and Food & Water Watch, President Obama could immediately halt the export of crude oil under executive legal authority granted to him by the 2016 Appropriations Act and the National Emergencies Act.

Documents: How IOGCC Created Loophole Ushering in Frackquakes and Allowing Methane Leakage

Earthquakes caused by injection of shale oil and gas production wastes — and methane leakage from shale gas pipelines — have proliferated in recent years, with both issues well-studied in the scientific literature and grabbing headlines in newspapers nationwide.

Lesser-mentioned, though perhaps at the root of both problems, is a key exemption won by the Interstate Oil and Gas Compact (IOGCC) via a concerted lobbying effort in the 1980's. That is, classifying oil and gas wastes as something other than “hazardous” or “solid wastes” under Subtitles C and D of the Resource Conservation and Recovery Act (RCRA), thus exempting the industry from U.S. Environmental Protection Agency (EPA) enforcement. 

BP’s Deep Sea Oil Exploration in South Australia Would Blow Huge Hole in Country’s Carbon Budget, Says Report

Plans by BP and other fossil fuel companies to drill for oil in the pristine waters off south Australia could take up a third of the country’s entire carbon budget if successful, a new report has estimated.
 
The Climate Analytics report, commissioned by conservation group The Wilderness Society, concluded that adding the oil from the Great Australian Bight (GAB) into the world’s energy system was “inconsistent with the global temperature and emission limits from the Paris agreement”.
 
Several fossil fuel firms, including Chevron and Santos, have plans to explore for oil in the GAB, but BP’s proposal to drill four exploration wells as much as 2,200 metres down on the ocean floor are the most advanced. 

Activists To Stage Mass Civil Disobedience In Nation’s Capital This Week

This week, thousands of Americans sick and tired of big money in politics and unfair voting laws are descending on the nation’s capital, ready to go to jail, if necessary, for their cause.

Some just arrived from a ten-day, 140-mile march that began in Philadelphia on April 2. Many others joined on Monday morning in Washington, D.C., kicking off a week of rallies and sit-ins at the Capitol building and its grounds while demanding that Congress take action to curb big money in politics and institute free and fair elections. Over 3,500 people have confirmed that they’re ready to risk arrest.

The Democracy Spring network of over 100 groups is demanding that Congress pass four bills to restore protections against voting discrimination, expand voting accessibility, overturn the Supreme Court’s Citizens United decision and match small political contributions with public funds. The activists also want Congress to hold hearings and an up-or-down vote on President Obama’s Supreme Court nominee, Merrick Garland.

Study: Fracking, Not Just Fracking Wastewater Injection, Causing Earthquakes in Western Canada

A groundbreaking study published today in Seismological Research Letters has demonstrated a link, for the first time, between hydraulic fracturing (“fracking”) for oil and gas and earthquakes. 

Hydraulic Fracturing and Seismicity in the Western Canada Sedimentary Basin” confirms the horizontal drilling technique (which in essence creates an underground mini-earthquake to open up fissures for oil and gas extraction) is responsible for earthquakes, above and beyond what is already canonized in the scientific literature. We already knew that injecting fracking waste into underground wells can cause quakes. But now it's not just the injections wells, but the fracking procedure itself that can be linked to seismicity. 

Where Do The Remaining Presidential Candidates Stand On Climate Issues?

We are now officially through half of the United States Presidential election primary and caucus season, and there are currently 5 contenders left in the Republican and Democratic parties vying for their party’s respective nomination. Delegate math shows that Governor John Kasich has no chance to become the Republican nominee, so we’re left with four real candidates to examine.
 
The differences between the candidates of the two major parties could not be greater. On the Democratic side, there are two candidates who proudly embrace science and agree that action on climate issues is sorely needed. On the Republican side, both of the remaining candidates reject the scientific consensus and instead argue that climate change is nothing more than a series of unfortunate weather events.
 
It is important to remember that acceptance of climate science is not necessarily limited to one political party. Recent polls show that majorities of voters within both the Democratic and Republican parties (as well as Independent voters) accept that climate change is real and that human activity is a contributing factor. The discrepancy between the desires of voters and the views of the candidates can best be seen in the contributions from the fossil fuel industry, which will be described in detail later.
 
As for the candidates remaining in the race, only Republican frontrunner Donald Trump lacks a record to verify his statements on climate change. But judging on his statements alone, he will not be a friend to the environment if he secures the nomination and subsequently wins the White House.

Fracking Supply Chain a Climate Disaster, Doing Little to Uplift Poor Communities: Studies

Two recent studies further call into question the oil and gas industry's claims of the climate benefits and community benefits of hydraulic fracturing (“fracking”).

One of those studies, published in Environmental Research Letters and titled, “Just fracking: a distributive environmental justice analysis of unconventional gas development in Pennsylvania, USA,” concludes that “the income distribution of the population nearer to shale gas wells has not been transformed since shale gas development.”

The other, a report released by Environmental Integrity Project titled, “Greenhouse Gases from a Growing Petrochemical Industry,” examines the post-fracking supply chain and concludes that the petrochemical industry's planned construction and expansion projects announced in 2015 alone are the “pollution equivalent to the emissions from 19 coal-fired power plants.”

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