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.”

Client Alert: Law Firms Tell Fossil Fuel Companies They Could Be Next in "ExxonKnew" Probe

Some of the country's biggest law firms have recently penned “client alert” memoranda, suggesting to their clients that they closely monitor the ongoing Attorneys General investigations occurring in states nationwide on the potentially fraudulent behavior of ExxonMobil.

DeSmog tracked down alerts written by three different firms: Crowell & Moring, Pillsbury Winthrop Shaw Pittman, as well as King & Spalding. All of them have maintained fossil fuel industry clients as well as tobacco industry clients, a DeSmog review has revealed

A previous DeSmog investigation pointed out that Exxon has hired Ted Wells, who represented Philip Morris in Big Tobacco's racketeering lawsuit filed against it by the U.S. Department of Justice, to its legal defense team for the ongoing state AGs' probe.

The AGs' investigation centers around what Exxon knew about climate change and its potential impacts over the past several decades. That's juxtaposed with what the oil giant did about it: funding climate denial to the tune of at least 
$31 million between 1998-2015.

Why Is Coal Suddenly Becoming A Major Talking Point In The Presidential Election?

It simply wouldn’t be an election year in the United States without the fictitious “war on coal” talking point rearing its ugly head. But something is different this year. In years past, the “war on coal” was admittedly fake, but today we really do have presidential candidates who have expressed interest in making the industry a thing of the past, and those quotes are being used as a catalyst to rally voters in coal-dependent states like West Virginia and Kentucky.

Why the Biomass Industry’s Carbon Arguments Should Make You Spit Out Your Coffee

This is a guest post by Mary Booth from Partnership for Policy Integrity

Recently, Senate friends of industrial bioenergy proposed – and passed – an amendment to the Senate version of the Murkowski Energy Bill that compels EPA to treat burning biomass as “carbon neutral.”

Bioenergy isn’t carbon neutral, of course, at least not in any timeframe we care about for addressing climate change. Wood-burning power plants emit more CO2 than coal plants, per megawatt-hour, and re-growing trees to sequester that carbon takes decades. Even when the wood fuel comes from “waste,” the emissions from burning it exceed those from coal.

Republican Senators from Alaska Ask John Kerry to Help Protect Rivers, Salmon from B.C.’s Dangerous Mining Practices

High-level international action is needed to ensure that southeast Alaskan rivers and fisheries are protected from B.C. mines along the B.C./Alaska border, say Alaska’s federal representatives.

Concerns about the environmental safety of mines in the transboundary region have escalated since the province’s auditor general issued a scathing report earlier this month on B.C.’s mining practices and Alaska’s Congressional Delegation is now pushing for Secretary of State John Kerry to step in.

We write to express our continuing concerns about the development of several hardrock mines in British Columbia and their potential effects on water quality in the transboundary rivers that flow from Canada into Southeast Alaska,” says a letter to Kerry from the congressional delegation, made up of Senator Lisa Murkowski, Senator Dan Sullivan and Congressman Don Young, all of whom are Republicans.

The group points out that, like most Alaskans, they support responsible mining.

But Alaskans need to have every confidence that mining activity in Canada is carried out just as safely as it is in our state. Yet, today, that confidence does not exist,” says the letter.

Pages

Subscribe to DeSmogBlog