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Oil rigs around the world keep pulling crude oil out of the ground, but the global pandemic has sent shockwaves into the market. The supply is up, but demand has plummeted now that industry has ground to a halt, highways are empty, and airplanes are parked in hangars.
EcoWatch Daily Newsletter
By Nick Cunningham
A growing number of refineries around the world are either curtailing operations or shutting down entirely as the oil market collapses.
The Environmental Protection Agency (EPA) issued a policy memo yesterday that is an expansive relaxation of legally mandated regulations on polluting industries, saying that industries may have trouble adhering to the regulations while they are short-staffed during the coronavirus global pandemic, according to the AP.
A three-dimensional portrait of methane concentrations around the world is helping researchers to understand the complex gas, which constitutes the second largest contributor to greenhouse gas (GHG) warming after carbon dioxide.
Two years after internal documents surfaced showing that Royal Dutch Shell, like ExxonMobil, knew about climate dangers decades ago, the oil giant released its latest annual report outlining its business strategy and approach to addressing climate change. Despite clear warnings from scientists, global health experts and even central banks of impending climate-driven crises, Shell's report largely sends a message that everything is fine and the company's "business strategy is sound."
Financial companies are increasingly being recognized — by their clients, shareholders, regulators, and the general public — as climate actors, with a responsibility to mitigate their climate impact. For the banks highlighted in this report, the last year has brought a groundswell of activism demanding banks cut their fossil fuel financing, at the same time that increasingly extreme weather events have further underscored the urgency of the climate crisis. Nevertheless, the report reveals that the business practices of the world's major private-sector banks continue to drive us toward climate disaster.
At least 15 people died in a gas explosion in Lagos, Nigeria Sunday morning.
Mexico's president Andres Manuel Lopez Obrador ordered state-owned oil company, Pemex, to build an $8 billion oil refinery. So, the company has followed orders and razed protected mangrove trees to clear way for the controversial project, according to Quartz. Satellite images posted on Quartz show the cleared land to accommodate the construction.
Longtime Climate Science Foe David Schnare Uses 'Scare Tactics' to Bash Transportation Climate Initiative for Koch-Tied Think Tank
Opponents of a regional proposal to curb transportation sector emissions in the Northeast and Mid-Atlantic are using a number of deceptive tactics to attack and criticize the Transportation and Climate Initiative. Groups tied to the oil industry have pointed to misleading studies, deployed questionable public opinion polling and circulated an open letter in opposition.
By Andy Rowel