Drillers Under Pressure as Low Prices, Broad Uncertainties Put Oil & Gas Industry's Financial Prospects 'In Limbo'

At a climate change conference in Paris last week, Fatih Birol, chief economist at the International Energy Agency, had a blunt message for energy companies.

“We see some moves from energy companies in the direction of sustainable development. However, it is not at the level you would like to see,” Mr. Birol, who will be promoted to chief of the IEA in September, told those assembled. “If they think that their businesses are immune to the impacts of climate policy, they are making a strategic mistake.”

Other experts sound a similar note, calling for changes so fast and sweeping that they would be like an “induced implosion.”

Peabody Energy to White House: Greenhouse Gas a 'Non-Existent Harm'

In an official submission to the White House earlier this year, U.S. coal giant Peabody Energy claims that greenhouse gas is a “non-existent harm” and a “benign gas that is essential to all life.”

The March 2015 submission from Peabody further claims that “while the benefits of carbon dioxide are proven, the alleged risks of climate change are contrary to observed data, are based on admitted speculation, and lack adequate scientific basis.”

Experts Confirm Coal Industry’s “Global Poverty” Campaign Is Bogus

When Peabody Energy isn't busy trying to have the lyrics of a folk song struck from the evidentiary record in a Wyoming lawsuit, the company is aggressively pushing fossil fuels like coal — conveniently, Peabody’s main product — as a solution to global poverty.

As Media Matters has thoroughly documented, however, experts say that not only are renewable energy and mini-grids a far better solution to uplift the world’s poor than centralized production of fossil fuel electricity, but also renewables are more affordable and impose a far lower social cost, to boot.

In Last Ditch Effort, Coal Industry Picks ‘Worst Idea Ever’ With Argument That Coal Ends Poverty

The coal industry is facing hard times as it tries to battle against a growing demand for climate action and clean energy.

Cheaper and cheaper renewables along with the increasingly successful fossil fuel divestment campaign (which largely targets coal for being the dirtiest of all the fossil fuels) means the industry has had to reimagine itself.

A Bad Week For Coal Mining Industry, Even Worse for Peabody Energy

It's been a really bad week for major U.S. coal companies as we head into the July 4th holiday weekend. 

St. Louis-based Peabody Energy (NYSE: BTU) closed today at $1.87 a share, down from a high of $84 per share in mid-2008. The company's chief financial officer Michael C. Crews resigned abruptly on June 28 amidst the freefall.

Another major U.S. coal company, Alpha Natural Resources (NYSE: ANR) hit a new all-time low yesterday at just 27 cents per share, and sank as low as 24 cents that morning.

Arch Coal (NYSE: ACI) also hit its all-time low of 33 cents per share as well, down from its all-time high of $73.42 in 2008.

All three companies' 
stock values are down roughly 80% from the beginning of 2015.

Dirty Money vs. Clean Power: How the Fossil Fuel Industry Hopes to Kill EPA’s Climate Rule

This is a guest post by Patrick Parenteau, Professor of Law, Vermont Law School

The fossil fuel industry is pulling out all the stops in an effort to derail President Obama’s Clean Power Plan being developed by the Environmental Protection Agency under the Clean Air Act.

The proposed plan, which aims to cut carbon emissions by 30% below 2005 levels by 2030, is due to be published as a final rule this summer. Launching a preemptive strike, the coal industry filed suit earlier this year seeking an “extraordinary writ” to stop the rulemaking in its tracks. This would be an unprecedented act of judicial intervention.

Pope Francis’ Encyclical Is A Sincere Call For Climate Action, Economic Justice

Pope Francis has released his long awaited encyclical, or teaching document, on climate justice and the environment, and it flies in the face of everything climate deniers stand for.

The encyclical is officially called “Laudato Si (Be Praised), On the Care of Our Common Home,” and it makes a compelling case for humanity’s moral responsibility to “protect our common home” by tackling the root causes of two of the greatest interlinked global crises of our time: climate change and poverty.

Want More U.S. Jobs? Enforce Carbon Pollution Limits

One of the main talking points that Republicans use to bash environmental protections is that they’ll cost us too many jobs.  That is one of their main complaints about the new carbon emissions standards for power plants.  They believe that if we put limits on the amount of greenhouse gases that these coal-fired power plants spew into our atmosphere, then we’ll lose too many jobs, sending local economies into economic ruin.

It’s a great talking point in a nation that is currently starved for jobs, and it helps to sell fear to workers in these industries in order to get them to vote against their own health and safety.

Unfortunately for Republicans who use these talking points, they are only telling half of the story.

Let's Issue a Recall On Defective Congress For Failing to Stop Deadly Climate Change

Earlier this year, Blue Bell ice cream issued a mandatory recall of all of its ice cream products after a string of deaths from the bacteria Listeria had been linked directly to their products.  Similarly, when a blockbuster drug is found to be defective and begins killing consumers, the FDA will force the pharmaceutical company to pull the drug from the market.

Given the protocol here, I want to propose that we recall the Legislative Branch of our government for allowing American citizens to die by refusing to take action against climate change.

All New Electricity Generating Capacity Added In April Was From Wind And Solar

Renewable energy continues to run the table in the United States. The Federal Energy Regulatory Commission’s Office of Energy Projects has released its latest “Energy Infrastructure Update,” and it shows that all of the new electricity generating capacity brought online during the month of April in the United States was from wind and solar.


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