Posts Tagged ‘oil and gas’
Exxon must go to trial over alleged climate crimes, court rules
This article was written by Chris McGreal and orginally published in The Guardian on May 24, 2022. The Massachusetts high court on Tuesday ruled that the US’s largest oil company, ExxonMobil, must face a trial over accusations that it lied about the climate crisis and covered up the fossil fuel industry’s role in worsening environmental devastation. Exxon…
Read MoreInsurance Giant Allianz Sets Oil and Gas Exit Strategy
This article was written by Mitchell Beer and originally published in The Energy Mix on May 1, 2022. The world’s fifth-largest insurance company, Munich-based Allianz, is withdrawing coverage and investment dollars from a wide swath of fossil fuel projects as of next year, and will stop insuring its existing fossil clients when their policies come…
Read MoreQuebec Becomes World’s First Jurisdiction to Ban Oil and Gas Exploration
This article was written by Mitchell Beer and originally published in The Energy Mix on April 13, 2022. In what campaigners are calling a world first, Quebec’s National Assembly voted Tuesday afternoon to ban new oil and gas exploration and shut down existing drill sites within three years, even as the promoters behind the failed…
Read MoreNew York pension fund to divest half its shale companies
This article was written by Ross Kerber and published to Reuters on February 9, 2022. BOSTON, Feb 9 (Reuters) – New York’s state pension fund will sell $238 million worth of stock and debt it holds across 21 shale oil and gas companies including Chesapeake Energy Corp, Hess Corp (HES.N) and Pioneer Natural Resources (PXD.N), saying they have…
Read MoreAlberta’s ‘Quiet’ Transition to Renewables Moves Faster than Planned
This article was originally published in The Energy Mix on January 3, 2022. Alberta’s quiet transition to renewable energy from coal is moving faster than planned—fast enough that the province could hit its target of generating 30% of its electricity from renewables seven years ahead of its 2030 target. “Renewables have gone from being a…
Read MoreIEEFA: Short-term oil and gas gains likely to be replaced by long-term productivity pain
This article was written by Clark Williams-Derry and originally published in the Institute for Energy Economics and Finacial Analysis on December 9, 2021. Oil and gas investors are anticipating hefty dividend checks to close out 2021. Following a decade of red ink — capped by a devastating 2020 when oil prices briefly went negative —…
Read MoreGlobal energy transition could be a $61B opportunity for Alberta, new study finds
This article was written by staff at The Canadian Press and originally published on December 7, 2021 in CBC News. The global energy transition could create 170,000 jobs in Alberta and contribute $61 billion to the province’s GDP by 2050, according to a new study released Tuesday by provincial economic development groups. The report —…
Read MoreOil and gas industry must pay for abandoned well cleanup, new Alberta rules say
This article was written by The Canadian Press and originally published by CBC on December 1, 2021. Alberta’s oil and gas regulator has rolled out new rules aimed at addressing the growing problem of inactive and abandoned wells in the province, but critics say the industry should be forced to do even more to clean…
Read MoreCanada’s Big Oil Reality Check: Major oil and gas producers undercut Canada’s commitment to 1.5ºC
This article was produced by Oil Change International and Environmental Defence Canada and published by them on November 3, 2021. Our new report “Canada’s Big Oil Reality Check” finds that the climate plans of major oil and gas companies operating in Canada rank among the worst worldwide and will accelerate the climate crisis rather than help…
Read MoreIEEFA: COP26 – AXA leads by example, accelerating its exit from oil and gas to battle climate change
This article was written by Nick Holmes and originally published in IEEFA.org on November 3, 2021. At the COP26 summit, leading global insurance firm AXA announced an important step forward in its strategy to combat climate change. It has considerably extended its restrictions on both investing in and insuring new oil and gas projects. This comes after…
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