The U.S. held its first auction of oil and gas drilling leases in the Gulf of Mexico in more than a year on Wednesday. The sale — mandated by the Inflation Reduction Act (IRA) — garnered $264 million in offers from oil companies, including BP, Chevron and ExxonMobil. The auction in federal waters came just […]
British bank Barclays has announced the narrowing of its lending criteria for clients involved in coal-fired power generation and will cease to finance the surface mining method of oil sands exploration and production, but has still not committed to restricting lending for oil and gas as some of its competitors have. In its annual report […]
From ExxonMobil to Shell to BP, several major oil and gas companies reported record profits in 2022 as the price of both fossil fuels spiked following Russia’s invasion of Ukraine.
Oil company Warren Resources has sued Los Angeles this week after the city unanimously passed a ban on new oil and gas drilling. The oil company is arguing that the ban will shut down its operations, and the lawsuit aims to prevent the law from taking effect. Warren Resources operates only in the Los Angeles […]
The world’s eyes are currently on Qatar as the host of the ongoing FIFA World Cup. But, while the tournament’s organizers have been criticized for misleading claims about the event’s carbon neutrality, it turns out that Qatar could have an even more devastating impact on the climate crisis.
The world cannot develop more oil and gas while limiting global warming to 1.5 degrees Celsius above pre-industrial levels. This is the conclusion of a first-of-its-kind comparison of major climate models that bolsters a similar claim from the International Energy Agency (IEA) in 2021. “According to a large consensus across multiple modelled climate and energy […]
In a breach of a campaign promise, the Biden administration will hold its first terrestrial lease sales for oil and gas drilling on public lands beginning today.
President Joe Biden’s Interior Department confirmed on Wednesday that it has canceled three lease sales that would have opened millions of acres of ocean to oil and gas drilling. Two of the lease sales would have taken place in the Gulf of Mexico and a third would have taken place off the coast of Alaska […]
As gas prices climb to an average of $4.316 per gallon in the U.S., and reach nearly $7 per gallon in parts of California, more people are searching for electric cars, according to Cars.com. The retailer has seen searches for electric cars more than double over the two weeks after Russia invaded Ukraine. E&E News […]
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