"While material gains are crucial, they are far from the only way that movements build towards a better world. Also important are the increased confidence and capacity that can result even from collective struggles that have not yet won definitive victories. "
It appears that the U.S. fracking boom is ending far earlier than many industry experts and CEOs predicted. After an understandable dip in 2020 due to the pandemic, oil production still has not regained the record levels achieved in 2019, and predictions that the industry would set new records this year have not materialized, despite 2022’s high oil prices.
A ruptured pipe dumped enough oil late last week into a northeastern Kansas creek to nearly fill an Olympic-sized swimming pool, becoming the largest onshore crude pipeline spill in nine years and surpassing all the previous ones on the same pipeline system combined, according to U.S. government data.
A report issued Friday by the House Oversight Committee said oil companies had “greenwashed” their public image while continuing to invest in fossil fuels.
Major oil and gas companies have little intention of taking concrete actions to transition away from fossil fuels and toward clean energy solutions despite their public efforts to be seen as working to address climate change, according to a report released Friday by Democrats on the House Oversight Committee.
A new front in the fight against climate change is emerging as Canada’s largest bank and top fossil fuel financier, RBC, plans to buy the Canadian arm of one of Europe’s top fossil fuel-financing banks, HSBC.
The proposed deal would see RBC buy HSBC Canada, a subsidiary of the London-headquartered bank HSBC, for $13.5 billion. If the deal goes through, it would mean adding $134 billion worth of assets to RBC’s books, along with more than 130 branches in Canada and over 4,000 employees.
