By Jake Johnson Democratic presidential nominee Joe Biden on Wednesday vowed to bar from his transition team any “leaders” of fossil fuel companies, a pledge environmentalists cautiously applauded while urging the former vice president to go further by committing to banning all Big Oil lobbyists and executives from both his transition team and cabinet. “Rejecting […]
By Jenna McGuire In 2011, a ground-breaking report by the UN Environment Programme (UNEP) on oil pollution in Ogoniland highlighted the devastating impact of the oil industry in the Niger Delta and made concrete recommendations for clean-up measures and immediate support for the region’s devastated communities. Now, nearly ten years later, a new report published […]
Fossil fuel giant BP made headlines earlier this year when it announced it would target net zero emissions by 2050. Now, it is in the headlines again, since it announced on Monday that it would slash 10,000 jobs, roughly 15 percent of its workforce, as it struggles during a downturn in the oil market and […]
By Eoin Higgins Sen. Bernie Sanders was among critics outraged that the fossil fuel industry is using tax breaks in the CARES Act meant to help businesses keep workers employed to avoid paying millions of dollars in taxes — and then delivering that money to executives. “Good thing President Trump is looking out for the […]
Two top administration officials, at the direction of President Trump, helped the Federal Reserve alter its lending program intended to bail out small businesses specifically to aid mid-size oil companies, Energy Secretary Dan Brouillette told Bloomberg TV this week. “Secretary Mnuchin worked very closely with the Federal Reserve … and made that program available to […]
By Jessica Corbett As calls for a People’s Bailout in response to the coronavirus pandemic continue to grow across the United States, a new analysis warns that the country’s Big Oil companies “stand to reap yet another billion dollar bailout” thanks to the Federal Reserve’s plans to buy up to $750 billion in corporate debt. […]
By Andrea Germanos A coalition of climate organizations strongly criticized President Donald Trump’s in-person Friday meeting with the chief executives of some of the biggest fossil fuel companies in the world, saying the industry that fueled climate disaster must not be allowed to profiteer from government giveaways by getting bailout funds or preferred treatment during […]
By Ajit Niranjan As wind farms, solar plants and electric cars threaten demand for fossil fuels, oil and gas executives are betting big on another environmental vice: plastic. In the last 10 years, companies including BP, ExxonMobil and Shell have invested billion (€82 billion) in 210 chemical projects linked to America’s shale gas boom alone, […]
By Jessica Corbett Climate advocacy groups responded with swift condemnation Thursday after Treasury Secretary Steven Mnuchin said he will recommend that President Donald Trump ask Congress for as much as $20 billion to purchase oil in what Barron’s reported “would essentially equate to a bailout of the U.S. oil industry, because several U.S. producers would […]
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