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#oilcompanies

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Oil giants are abandoning the energy battlefield, redirecting profits to shareholders.

Major oil companies are not just quitting renewables—they're retreating from energy growth entirely. Rather than investing in future production, oil majors are now diverting more than half of their cash flow to shareholders, a withdrawal that signals "the future of energy is being built around them, not by them."
#fossilfuels #oil #oilcompanies #climate #ClimateChange #energy

harrybenham.substack.com/p/lea

The Manufacturing of Energy · Leaving the battlefield: oil companies are quitting renewables, yes, but also quitting energyBy Harry Benham

Supreme Court lets #Hawaii sue #OilCompanies over #ClimateChange effects

#SCOTUS won't answer 'recurring question of extraordinary importance' to #BigOil.

by Ashley Belanger – Jan 13, 2025

"On Monday, the Supreme Court declined to decide whether to block lawsuits that Honolulu filed to seek billions in damages from oil and gas companies over allegedly deceptive marketing campaigns that hid the effects of climate change.

"Now those lawsuits can proceed, surely frustrating the fossil fuel industry, which felt that SCOTUS should have weighed in on this key 'recurring question of extraordinary importance to the energy industry' raised in lawsuits seeking similarly high damages in several states, CBS News reported.

"Defendants #Sunoco and #Shell, along with 15 other energy companies, had asked the court to intervene and stop the Hawaii lawsuits from proceeding. They had hoped to move the cases out of Hawaii state courts by arguing that interstate pollution is governed by federal law and the Clean Air Act.

"The oil and gas companies continue to argue that greenhouse gas emissions 'flow from billions of daily choices, over more than a century, by governments, companies, and individuals about what types of fuels to use, and how to use them.' Because of this, the companies believe Honolulu was wrong to demand damages based on the "cumulative effect of worldwide emissions leading to global climate change."

Read more:
arstechnica.com/tech-policy/20
#BigOilAndGas #BigOilKnew #ExxonKnew #ShellOilKnew #Lawsuits #BigOilCriminals #ClimateEmergency #ClimateCatastrophe #ClimateCrisis

Ars Technica · Supreme Court lets Hawaii sue oil companies over climate change effectsBy Ashley Belanger

#Maine Sues Major #OilCompanies Over ‘Ongoing Deception’ About #ClimateChange

The lawsuit follows similar suits by eight other states and the District of Columbia against major oil companies, all alleging complicity in climate change. Those states are New Jersey, California, Delaware, Minnesota, Vermont, Connecticut, Massachusetts and Rhode Island

Story by Nina Golgowski
November 27, 2024

"The state of Maine has filed a lawsuit against five major oil companies and their top lobbying group, accusing them of carrying out a decades-long disinformation campaign about climate change and their contribution to it in order to maximize profits.

"Maine Attorney General Aaron Frey, in his lawsuit filed Tuesday in state court, accuses Exxon Mobil, Shell, Chevron, BP, Sunoco and the American Petroleum Institute of withholding internal knowledge about fossil fuels’ catastrophic effects all while spinning public doubt.

"'For over half a century, these companies chose to fuel profits instead of following their science to prevent what are now likely irreversible, catastrophic climate effects,' said Frey in a statement. 'In so doing, they burdened the State and our citizens with the consequences of their greed and deception.'"

Read more:
msn.com/en-us/news/politics/ma

www.msn.comMSN

Exposed: The Oil and Gas Giants Profiting Most From #Israel's #GazaGenocide

"The complicity of international #corporations and governments in fueling Israel's #WarMachine represents the latest chapter in a long history of #FossilFuel companies enabling #genocide and mass atrocities," said one campaigner.

by Brett Wilkins
Nov 14, 2024

"On the fourth day of the United Nations Climate Change Conference, or #COP29, in Azerbaijan, green groups highlighted how fossil fuel companies 'enable and profit from Israel's genocide in Gaza,' continuing 'a long history of the industry's complicity in mass atrocities worldwide.'

"'The fossil fuel industry is culpable in death and destruction around the world, not only through the #ClimateCrisis they cause but through the violence they fuel,' #OilChangeInternational said in a statement Thursday.

"'Every shipment of oil to Israel carries the weight of #Palestinian lives.'

"The group—along with others including #FriendsOfTheEarthPalestine / #PENGON and #TippingPointUK — is seizing the opportunity presented by COP29 to draw attention to an aspect of the Gaza war often overlooked amid the staggering death and destruction wrought by Israel's 13-month onslaught, which a United Nations panel on Thursday said is consistent with the 'characteristics of genocide.'

"'Investor-owned and private #OilCompanies supply 66% of oil to Israel—more than a third of that from major oil companies like #Chevron, #Shell, and #BP — despite genocide warnings from the International Court of Justice [#ICC],' #OilChange said. 'BP is among the top corporate suppliers of oil to Israel. It operates and is the largest owner of the #BTC pipeline, which transports #AzeriOil that is ultimately sent to Israel.'

"The #BTCPipeline runs from #Baku — the #Azeri capital and COP29 host city on the Caspian Sea —t hrough #Azerbaijan, #Georgia, and #Turkey and, according to Oil Change, supplies Israel with 28% of its oil, belying Thursday's claim by Turkish President #RecepTayyipErdoğan that the country has severed all ties with Israel.

"An investigation published in September by #EnergyEmbargoForPalestine showed how oil transported via the BTC pipeline is refined into jet fuel for Israel Defense Forces [#IDF] warplanes.

Oil Change continued:

"BP has also been granted #GasExploration licenses in occupied Palestinian waters. By providing it with fuel, BP enables the Israeli government to commit genocide in Gaza. Chevron operates and partially owns the two largest Israeli-claimed fossil #GasFields, #Tamar and #Leviathan, making it the main international actor extracting fossil gas claimed by Israel in the Mediterranean. In 2022, 70% of Israel's power was generated from fossil gas extracted by #Chevron. Through the millions of dollars it pays Israel for its gas extraction licenses, Chevron is also directly contributing to financing Israel's regime of #genocide, #apartheid, #SettlerColonialism, and #Occupation.

"'The complicity of international corporations and governments in fueling Israel's war machine represents the latest chapter in a long history of fossil fuel companies enabling genocide and mass atrocities,' #MohammedUsrof, a member of the #PalestinianYouth Climate Negotiation Team at COP29 who lost 21 relatives to Israel's onslaught, said in a statement Thursday. 'Every shipment of oil to Israel carries the weight of Palestinian lives.'

"Tipping Point U.K. organizer #SadieDeCost said that 'BP originated as a key enabler of the #BritishEmpire, and continues as one of the top 10 largest #CarbonEmitters in the world.'

"'It operates and is the largest owner of the BTC pipeline, which ships Azeri oil to fuel Israel's genocide in Gaza,' DeCost added. 'BP's historic colonial harms continue through its support of violent regimes. Its emissions are estimated to cause hundreds of billions of dollars of loss and damage. We must shut down BP to end this injustice, and demand climate reparations for impacted communities around the world.'"

Read more:
commondreams.org/news/fossil-f

Common Dreams · Exposed: The Oil and Gas Giants Profiting Most From Israel's Gaza Genocide | Common Dreams"The complicity of international corporations and governments in fueling Israel's war machine represents the latest chapter in a long history of fossil fuel companies enabling genocide and mass atrocities," said one campaigner.

#Vermont becomes 1st state to enact law requiring #OilCompanies pay for damage from #ClimateChange

By LISA RATHKE
Updated 3:00 PM EDT, May 31, 2024

"Last July’s flooding from torrential rains inundated Vermont’s capital city of #Montpelier, the nearby city #Barre, some southern Vermont communities and ripped through homes and washed away roads around the rural state. Some saw it as the state’s worst natural disaster since a 1927 flood that killed dozens of people and caused widespread destruction. It took months for businesses — from restaurants to shops — to rebuild, losing out on their summer and even fall seasons. Several have just recently reopened while scores of homeowners were left with flood-ravaged homes heading into the cold season."

Read more:
apnews.com/article/vermont-cli

AP News · Vermont becomes 1st state to enact law requiring oil companies pay for damage from climate changeBy LISA RATHKE

#BigOil faces a flood of climate lawsuits — and they're moving closer to trial | Grist grist.org/accountability/big-o “Researchers have uncovered more details about what #OilCompanies knew about #ClimateChange and when, and the science connecting #FossilFuel emissions to #ClimateDisasters has matured, arming cities and states with more evidence. All the while, the effects of climate change — the heat waves, the blazes, the wildfire smoke — have only grown more obvious, and more costly. (1/2)

Grist · Big Oil faces a flood of climate lawsuits — and they’re moving closer to trialBy Kate Yoder

021 #Climate #Cop28 #US

US politics being a total sh*tshow is nothing new. It being corrupt even less.

But #ScreamingMadBoebert steals the show (again).
She presents a bill [on behalf of #BigOil] by which #OilCompanies are exempt of cleaning up after themselves. To pay for cleaning up after an enveronmetal disaster. In the US and abroad.

That's a complete #FreeRide for the companies responsible of so many misery.

"Republicans Advance Boebert Plan Forcing Taxpayers to Foot Bill for Big Oil's Mess"
by Jessica Corbett (again ❤️ 👌 ) for Common Dreams

commondreams.org/news/oil-well

Quotes:
"Based on a BLM [Bureau of Land Management US] review of the costs to plug orphaned wells, the rule—strongly opposed by polluting oil and gas companies—would raise the minimum lease bond amount to $150,000 and the minimum statewide bond to $500,000."
"The oil and gas industry could stick taxpayers with a massive bill of between $2.9 billion and $17.7 billion," warned Public Citizen's Alan Zibel."
"While Biden—who is seeking reelection next year—campaigned on being a "climate president," he has come under fire from campaigners and frontline communities for continuing fossil fuel lease sales for public lands and waters, greenlighting the Willow oil project and Mountain Valley Pipeline, and blowing off COP28, the ongoing United Nations climate summit taking place in Dubai."

Common Dreams · Republicans Advance Boebert Plan Forcing Taxpayers to Foot Bill for Big Oil's Mess"The oil and gas industry could stick taxpayers with a massive bill of between $2.9 billion and $17.7 billion," warned Public Citizen's Alan Zibel.

Fossil fuels being subsidised at rate of $13m a minute, says IMF

Oil, gas and coal benefited from $7tn in support in 2022 despite being primary cause of climate crisis
Fossil fuels benefited from record subsidies of $13m (£10.3m) a minute in 2022, according to the International Monetary Fund, despite being the primary cause of the climate crisis.

theguardian.com/environment/20

The Guardian · Fossil fuels being subsidised at rate of $13m a minute, says IMFBy Damian Carrington
Continued thread

In this region, #Chevron has a net daily average production of 303,000 #barrels of #CrudeOil per day.

In the last several years, the effects of #ClimateChange have become increasingly impossible to ignore.

In the same way, the tools used by #OilCompanies to maintain the status quo are also making their way home. Yes, it’s hilarious that Chevron is spending millions of dollars on what amounts to a fuck-you Tumblr dedicated to a single guy.

#EndFossilFuels 🛢

10/10

Business as usual.

' But Dan Cohn, global energy transition researcher at the Institute for Energy Economics and Financial Analysis, said that the oil industry’s climate plans should not be taken at “face value”.

“They have left no doubt that their pledges were deployed for cynical political purposes, only to be ditched when they no longer suited the industry’s strategic position,” he said.” '

#OilCompanies #ClimatePledges #Lies #Profiteering #ClimateChange

theguardian.com/us-news/2023/j

The Guardian · Big oil quietly walks back on climate pledges as global heat records tumbleBy Dharna Noor

‘Double agents’: fossil-fuel lobbyists work for US groups trying to fight climate crisis

More than 1,500 lobbyists in the US are working on behalf of fossil-fuel companies while at the same time representing hundreds of liberal-run cities, universities, technology companies and environmental groups that say they are tackling the climate crisis, the Guardian can reveal.

theguardian.com/us-news/2023/j

The Guardian · ‘Double agents’: fossil-fuel lobbyists work for US groups trying to fight climate crisisBy Oliver Milman