HIROSHIMA, JAPAN, May 22, 2023 — G7 Leaders in Hiroshima concluded that there is “an important role” for “increased deliveries of LNG” and that “publicly supported gas investments can be appropriate”, jeopardizing the 1.5ºC warming limit and directly contradicting last year’s G7 commitment to end international public finance for fossil fuels by the end of 2022. The […]
Oil Change International
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Report: Commitment to end international finance for fossil fuels is shifting billions, but key countries breaking promises missing in action
March 15, 2023 – Promise Breakers, a report released today by Oil Change International, reveals that the Glasgow Statement, a joint commitment forged at the 2021 UN climate summit (COP26), is already shifting an estimated USD 5.7 billion per year out of fossil fuels and into clean energy, with the potential of a further 13.7 billion per year […]
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122 CSOs warn signatory countries they have only 6 months left to meet COP26 commitment to end international public finance for all fossil fuels
122 civil society organizations are releasing letters to eleven government signatories to the Glasgow Statement on International Public Support for the Clean Energy Transition, laying out the actions they must take as soon as possible to meet their commitment. In this joint statement at COP26, 35 countries and 5 public finance institutions committed to end […]
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Obscene high Q1 profits from Exxon, Chevron underscore need for Congressional action on a windfall profits tax
WASHINGTON, DC, April 29, 2022 — Today, U.S. oil majors ExxonMobil and Chevron announced Q1 2022 financials, revealing staggeringly high profits for both companies at a time when fuel prices are hurting working families at the pump. Exxon reported over $5 billion in profits despite an impairment of over $3 billion following its belated exit from […]
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New Report: Permian fracking boom will bust the climate and intensify environmental injustice
El Paso, TX, October 19, 2021 — Oil Change International, Earthworks, and the Center for International Environmental Law are releasing a new multi-media report series entitled The Permian Basin Climate Bomb. The six-part series analyzes the climate, public health, economic, and social impacts of the Permian fracking boom. It follows the flow of Permian hydrocarbons […]
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Nearly 450 Organizations Call on Biden Administration to End Public Finance for Fossil Fuels
WASHINGTON, DC. March 18, 2021 — In a letter released today, nearly 450 organizations called on the Biden Administration to immediately end all U.S. public financing for fossil fuels, including natural gas. Signatories to the letter span six continents and include major U.S. civil society organizations, international groups, and organizations in the Global South concerned about the impacts of […]
Posted inEnviro
Fracking Fiasco: The Banks That Fueled the U.S. Shale Bust
SAN FRANCISCO, September 24, 2020 — A new report by Oil Change International and Rainforest Action Network (RAN) shows how major banks have continued pouring money into fracking companies in recent years despite numerous warnings that the sector was financially unsustainable — on top of the well-documented environmental, health and climate impacts of the industry. Our research reveals […]
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Big Oil Reality Check: New paper finds ‘failure across the board’ in oil industry climate plans
September 23, 2020 – A new comprehensive analysis released today shows that not a single climate plan released by a major oil company comes close to aligning with the urgent 1.5ºC global warming limit. The discussion paper measures oil and gas company climate plans against ten minimum criteria for 1.5ºC alignment, underlining that commitments to stop expanding […]
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Oil Change International Response to Atlantic Coast Pipeline Cancellation
July 6, 2020 – Yesterday, Duke Energy and Dominion Energy announced the cancellation of the long-delayed Atlantic Coast Pipeline (ACP) fracked gas project. In response, Lorne Stockman, Senior Research Analyst at Oil Change International, released the following statement: “After six years of pushing a poorly conceived and unjust gas pipeline project on the people of West Virginia, […]
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Andy Rowell: COVID-19 fallout threatens “long-term survivability” of Big Oil
April 27, 2020 – It is nearly one hundred years to the day since the late British Prime Minister, Lloyd George said “oil profits seem to find their way by some invisible pipeline into private pockets.” In the century that has followed, the oil industry has been a sure safe bet for many investors to […]
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Report: G20 countries set to invest over $1.6 trillion in ‘fossil gas,’ jeopardizing Paris climate goals
BARILOCHE, Argentina, June 12, 2018 — As G20 energy ministers gather in Argentina, a new report out today entitled ‘Debunked: The G20 Clean Gas Myth’ finds that G20 countries, in the absence of new policies, are set to see investment of over $1.6 trillion USD in new gas projects. If this investment takes place – […]
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Oil Change International responds to Canada’s deal to purchase Kinder Morgan assets
May 29, 2018 – Today, Canada’s government announced that it will pay $4.5 billion to Kinder Morgan to buy both the 65-year-old Trans Mountain pipeline and the controversial Trans Mountain Expansion Project. The government also announced that it will assume liability for construction costs of the project, which could cost Canadian taxpayers billions more. In […]
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Andy Rowell: Trudeau Morphs From Clean Poster Boy into Dirty Oil Polluter
April 16, 2018 -As the world tries to wean itself off its oil addiction, one nation walks the other way. As many countries try and stop fossil fuel subsidies, one country is scrabbling around to secure finance for a dirty energy pipeline. And that country is Canada. Instead of seperating oil and state, they are […]
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US Bank Raises $2 Billion in Oil and Gas Pipeline Finance Since Pledge to Stop Pipeline Financing
April 12, 2018 – Since revising its environmental policy last year, US Bank financed more than $2 billion to companies building oil and gas pipelines, including an estimated $480 million to Energy Transfer Partners, new analysis released today by Oil Change International concludes. US Bank CEO Andrew Cecere won praise from indigenous rights and climate […]
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Andy Rowell: BP: Oil Spill Clean-up Operations a “Welcome Boost to Local Economies”
April 9, 2018 – You would have thought that having been responsible for the largest offshore oil spill in US history, the Deepwater Horizon, which spilled an estimated 4 million barrels of oil into the sea, and cost you $65 billion, that as a company you would see oil spills as something to be avoided. […]
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Report: International Energy Agency (IEA) is holding governments back on climate policy
LONDON, April 5, 2018 – Through its energy forecasts, the International Energy Agency (IEA) has been guiding governments towards energy decisions that are inconsistent with the goals of the Paris Climate Agreement, new research has found. The IEA’s “New Policy Scenario (NPS)” is commonly used as a roadmap for energy policies and investments, and sees […]
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Janet Redman: Trump Budget, Infrastructure Proposals Signal All-out Assault on Public Health, Environment
Feb. 12, 2018 – Today, the Trump administration unveiled both an infrastructure plan and a budget proposal for fiscal year 2019 that pave the way for an expansion of the fossil fuel industry. In response, Janet Redman, U.S. Policy Director at Oil Change International, released the following statement: Trump’s infrastructure scam is all about greasing […]
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Janet Redman: Industry-friendly FERC rightly rejects Perry’s coal and nukes bailout
Jan. 8, 2018 – Today, the Federal Energy Regulatory Commission (FERC) rejected former Dancing with the Stars contestant and current Energy Secretary Rick Perry’s Notice of Proposed Rulemaking that would have given a massive bailout to the coal and nuclear industries in the name of so-called grid resilience. In response, Janet Redman, U.S. Policy Director […]
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Report: Trump’s “Energy Dominance” Plans Rely on Billions in Fossil Fuel Subsidies
Oct. 3, 2017 – A new report out today by Oil Change International reveals that U.S. taxpayers continue to foot the bill for more than $20 billion in fossil fuel subsidies each year. These subsidies amount to billions of dollars wasted to prop up an industry responsible for a climate crisis that has contributed to lives […]
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Andy Rowell: Trump’s Response to Climate-Related Disasters: Open America’s “Crown Jewels” to Oil Drilling
Sept. 20, 2017 – You would have thought that after being battered by two devastating hurricanes in recent weeks, which experts believe were fuelled by warmer seas caused by climate change, even the most die-hard climate denier would think again. But you would be wrong. You would have thought that as the cost of rebuilding […]