Chevron is first oil major to warn investors of risks from climate change lawsuits

Big Oil’s lies about the existential risk posed by its product are now catching up with the industry and threatening profits. For the first time, one of the major publicly owned fossil fuel companies admitted publicly to investors that climate change lawsuits poses a risk to risk to its profits. You’re probably thinking that seems

Canada’s oil industry ponders its fate as the threat of electric cars looms in the rearview mirror

CALGARY – Canada’s energy industry gathered at a petroleum museum Monday to consider how electric cars threaten oil, the country’s biggest export, especially if battery-powered cars make up 50 per cent of vehicles on the road by 2050 as projected. Peter Tertzakian, executive director of ARC Energy Research Institute — which organized the event —

Exxon Caves to Oil Crash With Historic Global Reserves Cut

International oil giant wipes 3.3 billion barrels from books Entire Kearl oil-sands project in western Canada de-booked Exxon Mobil Corp. disclosed the deepest reserves cut in its modern history as prolonged routs in oil and natural gas markets erased the value of a $16 billion oil-sands investment and other North American assets. The equivalent of

Ethical financing shows global corporations that their tactics are no longer tolerated, says Deputy Pringle (Image: Getty)

Ireland passes law to become world’s first country to fully divest from fossil fuels

Bill will drop coal, oil and gas investments from Ireland Strategic Investment Fund Ireland has voted to be the world’s first country to fully divest public money from fossil fuels. The Irish Parliament passed the historic legislation in a 90 to 53 vote in favour of dropping coal, oil and gas investments from the €8bn

Big shift expected in the next decade (Image: Getty)

Mass adoption of electric cars will send diesel extinct in UK

The plan is to invest in the technology needed for battery electric vehicles Diesel technology is set to be a thing of the past, UK car industry executives believe. The plan is to invest in the technology needed for battery electric vehicles over the next five years, according to 93% of executives while 62% felt

Revealed: Exxon’s Lobbying Against Electric Vehicles in the UK

“Switching transportation from petroleum to renewable or alternative fuels is not the most cost-effective way to reduce GHG [greenhouse gas] emissions.” This is the message that ExxonMobil has delivered to the UK Department for Transport (DfT) in three separate presentations since the Paris climate deal was agreed last December, reveal documents obtained by DeSmog UK.