Category Archives: Fossil fuels

Iraq’s oil boom blamed for worsening water crisis in drought-hit south

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Pollution from gas flaring – the burning of natural gas associated with oil extraction – is also a major concern in the oil-rich but extremely dry south

Western oil companies are exacerbating water shortages and causing pollution in Iraq as they race to profit from rising oil prices after Russia’s invasion of Ukraine.

Water scarcity has already displaced thousands and increased instability, according to international experts, while Iraq is now considered the fifth most vulnerable country to the climate crisis by the UN. In the oil-rich but extremely dry south, wetlands that used to feed entire communities are now muddy canals.

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Albanese government urged to push international banks to stop funding fossil fuel development

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Exclusive: Report claims Australia’s shareholdings in development banks has made it responsible for investing $828m in fossil fuel projects over five years

Australia’s shareholdings in three international banks – including the World Bank – has seen it responsible for investing $828m in fossil fuel projects between 2016 and 2021, according to a research report.

The World Bank, the Asian Development Bank and the Asian Infrastructure Investment Bank have collectively pumped $32.85bn into fossil fuel projects – almost entirely linked to oil and gas production or power generation – over the same period, the report says.

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Australian banks lending billions to fossil fuel projects despite supporting emissions reductions, analysis suggest

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Big four have pledged to align business practices with Paris agreement but loophole allows them to fund sector, activist group says

Australia’s big banks have loaned more than $13bn for fossil fuel projects over the past two years even as they publicly advocate for emissions reductions, a new report suggests.

Analysis by environmental activist group Market Forces has found that while Australia’s major banks largely avoid providing direct project finance to new coal, oil and gas projects, they do fund corporate entities that develop them.

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Alberta’s party leaders are ignoring the climate crisis while the region burns

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Monday’s election is going to be a political nail-biter but neither candidate has discussed a post oil and gas world

Record-breaking wildfires have charred more than a million hectares of land in Alberta, pushing tens of thousands from their homes and choking the skies in a thick haze of smoke.

But on the zigzagging campaign trail of the province’s general election, neither party leader has confronted the realities of climate change and how it will likely dramatically reshape life in the Canadian prairies.

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NT government knew it could not reduce climate risk when it greenlit ‘carbon bomb’ gas production in Beetaloo Basin

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Exclusive: New documents also reveal federal government admitted Australia did not have policies to ensure project would meet key recommendation in full

New documents reveal the Northern Territory government knew it could not meet a key recommendation to reduce the climate risk of its planned massive expansion of gas production, and asked the Albanese government for help.

Federal climate change officials in turn admitted Australia did not have any existing policies that would meet the recommendation in full.

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University investment funds urge ‘bold action’ to stop new fossil fuel projects

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Asset managers told they have key role to play on climate crisis in open letter before Shell’s annual meeting

A coalition of university investment funds has called on institutional investors to rebel against the boards of fossil fuel companies and their backers.

As Shell prepares for its annual shareholder meeting this week, representatives from the Universities of Newcastle, Sussex, Bristol and from Trinity College, Cambridge, have written an open letter to the asset management industry urging “bold action” to stop new fossil fuel projects.

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Could Guyana’s Exxon ruling scare big oil off risky exploration?

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Ruling requiring ‘unlimited guarantee’ from oil firms to cover costs of spills could change offshore drilling throughout region

A ruling from Guyana’s high court could change the face of offshore oil drilling throughout the Caribbean, according to financial and legal analysts.

The ruling ordered the country’s Environmental Protection Agency (EPA) to require an independent liability insurance policy from Esso Exploration and Production Guyana Limited (EEPGL) and an “unlimited guarantee” from its parent company, ExxonMobil, in the case of any damage caused by the company’s oil and gas development in the country.

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Norway under pressure to scale back fossil fuel expansion plans north sea

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Campaigners say development of huge Rosebank field in North Sea would drive climate breakdown

The Norwegian government is facing growing pressure to scale back its huge global fossil fuel expansion plans – including the development of a controversial new oilfield in the North Sea.

Climate activists from around the world descended on Stavanger in Norway last week to attend the AGM of the state-owned oil and gas giant Equinor. They warned that its plans to develop the huge Rosebank field in the North Sea, as well as other mega-projects in Canada, Brazil and Suriname, would drive climate breakdown with devastating consequences for humanity.

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New US rules could stem emissions from coal and gas power plants

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Environmental groups laud the regulation, which would advance clean power in the US – if it survives expected legal challenges

The US is set to impose new carbon pollution standards upon its coal- and gas-fired power plants, in a move that the Biden administration has hailed as a major step in confronting the climate crisis.

Under new rules put forward by the Environmental Protection Agency (EPA), new and existing power plants will have to meet a range of new standards to cut their emissions of planet-heating gases. This, the EPA predicts, will spur facilities to switch to cleaner energy such as wind and solar, install rarely used carbon capture technology or shut down entirely.

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Saudi oil group Aramco to pay more to state despite profits drop

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World’s largest energy company’s first-quarter profits fall by 19% to $32bn after dip in oil prices

The Saudi government looks likely to reap greater revenues from the state-backed oil group Saudi Aramco despite the company posting a near-20% fall in quarterly profits.

The world’s largest oil and gas company said on Tuesday its profits had fallen by 19% in its first quarter compared with a year earlier, to nearly $32bn (£25bn), caused by a drop in oil prices.

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Filipino activists appeal to British banks over region devastated by oil spill

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Environmentalists from the Philippines urge investors to avoid LNG projects which they say threaten the Verde Island Passage

Campaigners from the Philippines have urged British banks not to fund the expansion of fossil fuel use in their country. It follows a huge oil spill that threatened a globally important marine biodiversity hotspot.

Filipino environmentalists have travelled to the UK to meet representatives from Barclays, Standard Chartered and HSBC as part of efforts to stop the expansion of liquefied natural gas (LNG) power plants and terminals in and around the Verde Island Passage, a global marine biodiversity hotspot known for its whale sharks, corals, turtles and rich fisheries, which was badly affected by the oil spill this year.

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Climate protesters rework Spice Girls song to disrupt Barclays AGM

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Lyrics of Stop changed to ‘stop right now, no more oil and gas’ because of bank’s fossil fuel funding

Barclays’ annual general meeting has been disrupted by climate activists condemning the bank’s role as one of Europe’s largest funders of fossil fuels – including a choir singing a Spice Girls hit with reworked lyrics.

Dozens of activists from groups including Fossil Free London and Extinction Rebellion UK began their action less than five minutes into the meeting where its chair, Nigel Higgins, was addressing shareholders at the QEII Centre in Westminster, central London.

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Record levels of renewable energy help bring down Australia’s energy prices, says Aemo

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Energy dynamics report finds clean energy is displacing fossil fuels and sending carbon emissions from the sector to new lows

Australia’s record levels of renewable energy helped extend the slide in wholesale power prices in the first three months of 2023, displacing fossil fuels and sending carbon emissions from the sector to new lows for the first quarter.

The latest energy dynamics report by the Australian Energy Market Operator (Aemo) showed wholesale spot prices in the national electricity market (NEM) averaged $83/MWh, down more than a 10th from the December quarter and two-thirds lower than the record average $264/MWh in the June quarter last year.

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China ramps up coal power despite carbon neutral pledges

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Local governments approved more coal power in first three months of 2023 than all of 2021

Local governments in China approved more new coal power in the first three months of 2023 than in the whole of 2021, according to official documents.

The approvals, analysed by Greenpeace, reveal that between January and March this year, at least 20.45 gigawatts of coal power was approved, up from 8.63GW in the same period in 2022. In the whole of 2021, 18GW of coal was approved.

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Germany plans to ban installation of most oil and gas heating from 2024

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Bill due before Bundestag in June would encourage homeowners to switch to renewables

Germany plans to ban the installation of most oil and gas heating systems from next year, with proposals approved on Wednesday triggering angry divisions in the cabinet.

The radical plans are designed to transform Germany’s heating systems in an attempt to meet net zero emission targets that critics have called unworkable and discriminatory. About half of Germany’s 41m households currently use natural gas heating, and almost a quarter use heating oil.

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Emissions from WA gas project with world’s largest industrial carbon capture system rise by more than 50%

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Chevron development off Pilbara coast was approved on condition the company store about 4m tonnes of CO2 a year

Emissions from Chevron’s Gorgon gas development off Western Australia have increased by more than 50% despite it being home to the world’s largest industrial carbon capture and storage system.

There has been a sharp drop in the amount of CO2 stored underground at the liquefied natural gas plant over the last three years, data released by Chevron showed.

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Nearly 120 million people in US exposed to unhealthy levels of soot and smog – report

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American Lung Association’s study also found great disparity between coasts, with 10 of 11 most polluted counties in California

The climate crisis has upended progress on improving air quality, with one in three Americans currently living in areas with harmful levels of pollutants known to increase the risk of medical emergencies, pregnancy complications and premature death, new research reveals.

Almost 120 million people in the US are still exposed to unhealthy levels of soot and smog, according to the annual report by the American Lung Association (ALA), which found that people of color are almost four times more likely to live in the most polluted places than white Americans.

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EU faces legal action after including gas and nuclear in ‘green’ investments guide

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European Commission accused of acting unlawfully in two separate cases bought by environment groups

The European Commission is being sued by environmental campaigners over a decision to include gas and nuclear in an EU guide to “green” investments.

Two separate legal challenges are being lodged on Tuesday at the European Union’s general court in Luxembourg – one by Greenpeace and another by a coalition including Client Earth and WWF – after the classification of fuels in the so-called taxonomy, a guide for investors intended to channel billions into green technologies.

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Dozens of climate activists arrested after shovelling coal from train bound for Newcastle

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Police charged about 50 protesters after coal train was brought to a standstill for four hours

Dozens of people have been arrested after protesters scaled a train bound for the Port of Newcastle and began shovelling coal out of its wagons.

The train was brought to a standstill a few kilometres from the port while passing Sandgate, near the Pacific Highway, about 10am on Sunday.

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Turning out the lights: what is the legacy of the Liddell power station?

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In the first of a two-part report, we look at the successes – and the costs – of what once was Australia’s largest power station

Jackson Channon, an electrician at the Liddell power station, counts “three generations of generation” who worked at the Hunter Valley site, including a grandad who drove cement trucks used to build it and parents who first met while on staff.

Come 29 April, Channon will attend the closure of the AGL Energy coal-fired facility, joining hundreds of current and former staff, community members and even artists marking the end of what was Australia’s biggest power plant when it was built 52 years ago.

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