Fossil Fuels & Oil

For years now, any discussion about climate action or the need to move off fossil fuels has run headlong into a familiar quandary: The industries fueling the climate crisis create good jobs, often in areas of the country where finding work that can support a family is incredibly difficult. This leaves activists gesturing towards well-intentioned goals like a “just transition,” a promise that likely rings hollow for workers and many labor unions because it’s hard to see where this has actually happened — even though, by every measure, we need to create some real policies that turn this vision into reality. While there are encouraging examples of labor unions throwing their support behind robust climate plans, it has proven difficult for the climate movement to find its way out of the jobs versus environment framing.

The finances of the oil and gas industry are so dismal that the major banks that have funded the money-losing fracking boom are now exploring taking the unusual step of taking over the oil companies that cannot afford to pay back the banks’ loans. Reuters reported that banks are exploring the option of seizing oil company assets […]

A federal court on Wednesday delivered a setback to the controversial Keystone XL pipeline project, vacating a permit the government had issued for its construction.  Federal Judge Brian Morris determined that the U.S. Army Corps of Engineers wrongly issued the permit, saying the Corps did not comply with environmental requirements.  His decision came in response to…

Global oil demand fell by one-third in March, as worldwide air travel all but stopped, manufacturing plants went on hiatus and workers around the globe heeded requests -- and often orders -- to stay at home over coronavirus.