Irish Prime Minister Leo Varadkar moved to distance himself from recent claims he made that climate change had potential “benefits” for Ireland, including reduced winter heating costs and cold-...
The Oregon Supreme Court heard arguments Wednesday, November 13 to decide the fate of one of a half dozen state-level climate lawsuits filed on behalf of American youth. The plaintiffs in the Oregon case, appealing a state appellate court decision in January, charge that the state has a public trust obligation to protect the atmosphere on behalf of future generations.
Koch Industries, the second largest privately held company in the United States, has significantly increased its lobbying spending this year, including efforts to influence policy on key climate and transportation issues and legislation.
By Dan Zegart
Last week, in a historic first, the former CEO of a major oil company took the witness stand in a New York City courtroom and spent four hours defending his company against charges that it misled investors about the potential impact of global warming on its viability as a business.
Rex Tillerson, who led ExxonMobil from 2006 until the end of 2016 when he became U.S. secretary of state, was grilled by an attorney for the New York State attorney general for allegedly participating in a “longstanding fraudulent scheme” by Exxon to fool investors. More specifically, the company is charged with exaggerating the stringency of its financial safeguards in pricing risks from regulations restricting greenhouse gas emissions, according to the complaint filed last year in New York state court.
But Tillerson's appearance was just one of several recent watershed moments for efforts to hold the fossil fuel industry accountable for its dominant role in causing climate change.
It’s been a bumpy ride for the auto industry in the ongoing battle over clean car regulations and California’s authority to set stricter rules for vehicle emissions. The industry is now divided as several automakers reached a deal over the summer with California to embrace a cleaner emissions standard through 2026, while a coalition of other carmakers recently backed the Trump administration in a lawsuit challenging the administration’s withdrawal of California’s waiver allowing it to set tougher tailpipe pollution controls. That coalition, which includes auto giants like General Motors and Toyota, claims to support “year over year increases in fuel economy” but also opposes California’s authority to set tailpipe emissions standards aligned with that increase.
The announcement by the Toyota and General Motors group was “not surprising, but it’s disappointing,” according to Don Anair, deputy and research director for the Clean Transportation program at Union of Concerned Scientists.
The company that for the past decade has been emblematic of the rise and pitfalls of shale drilling and fracking, Chesapeake Energy, saw its stock price collapse today, plunging by 29.15 percent in a single day.
At the end of the day on November 6, a share in Chesapeake (NYSE:CHK) was worth less than a buck, priced at $0.91.
California and Colorado’s public pension funds together lost out on over $19 billion over the past decade by investing in fossil fuel stocks, according to a report released on Tuesday.
The three public pension funds analyzed are currently worth a combined $663 billion. However, if they’d divested from fossil companies in 2009 while keeping their other investments at the same proportions, they could have amassed a combined additional $19 billion in ten years, the report published by Corporate Knights, a Canadian media, research and financial firm, concludes.
After revising its three-year U.S. power forecast, the Federal Energy Regulatory Commission (FERC) has predicted major declines for fossil fuels and nuclear power alongside strong growth in renewables by 2022, according to a review of the data by the SUN DAY Campaign, a pro-renewables research and education nonprofit.
“FERC's latest three-year projections continue to underscore the dramatic changes taking place in the nation's electrical generating mix,” noted Ken Bossong, executive director of the SUN DAY Campaign. “Renewable energy sources are rapidly displacing uneconomic and environmentally dangerous fossil fuels and nuclear power — even faster than FERC had anticipated just a half-year ago.”
By Ruth Hayhurst for Drill or Drop
After seven years of promoting fracking, Conservative ministers have withdrawn their support and blocked the prospects of a shale gas industry.
The UK government has issued an immediate moratorium in England because of the risk of earth tremors. Governments in Scotland, Wales and Northern Ireland have already issued measures that amount to moratoriums on fracking.
Mounting concerns over pollution, public health, and the expansion of the petrochemical industry came to a head when two activists were detained in Baton Rouge, Louisiana, on October 30, the last day of a two-week protest against environmental racism in Louisiana’s Cancer Alley.