Tag Archives: fossil fuels

The New York Times reports: Global temperatures are likely to soar to record highs over the next five years, driven by human-caused warming and a climate pattern known as El Niño, forecasters at the World Meteorological Organization said on Wednesday. The record for Earth’s hottest year was set in 2016. There is a 98 percent chance that at least one …

Reuters reports: The West’s top energy firms are expected to rake in a combined record profit of $200 billion from a turbulent 2022 marked by huge volatility in oil and gas prices after Russia’s invasion of Ukraine with buoyant earnings likely to roll through 2023. Flush with cash, BP Chevron, Exxon Mobil, Shell and TotalEnergies also delivered shareholders unprecedented returns …

The New York Times reports: The world remained firmly in warming’s grip last year, with extreme summer temperatures in Europe, China and elsewhere contributing to 2022 being the fifth-hottest year on record, European climate researchers said on Tuesday. The eight warmest years on record have now occurred since 2014, the scientists, from the European Union’s Copernicus Climate Change Service, reported, …

Science News reports: The Arctic is heating up at a breakneck speed compared with the rest of Earth. And new analyses show that the region is warming even faster than scientists thought. Over the last four decades, the average Arctic temperature increased nearly four times as fast as the global average, researchers report August 11 in Communications Earth & Environment. …

Bloomberg News reports: US retail gasoline prices fell below $4.50 a gallon for the first time since mid-May, starting to ease pressure at the pump for millions of Americans. The nationwide average was at $4.495 a gallon, according to data released on Tuesday by the American Automobile Association. Prices have fallen more than 10% since hitting a record last month …

The Associated Press reports: President Joe Biden on Tuesday ordered 50 million barrels of oil released from the strategic reserve to help bring down energy costs, in coordination with other major energy consuming nations, including China, India, and the United Kingdom. The move is aimed at global energy markets, but also at voters who are coping with higher inflation and …

ABC News reports: A United Nations climate panel has confirmed — in its strongest language ever — that the impacts of human-caused climate change are severe and widespread, and that while there is still a chance to limit that warming, some impacts will continue to be felt for centuries. “It is unequivocal that human influence has warmed the atmosphere, ocean …

The Associated Press reports: The left-leaning government of Greenland has decided to suspend all oil exploration off the world’s largest island, calling it is “a natural step” because the Arctic government “takes the climate crisis seriously.” No oil has been found yet around Greenland, but officials there had seen potentially vast reserves as a way to help Greenlanders realize their …

The Detroit Free Press reports: General Motors “aspires” to have all of its global new light-duty vehicles, including full-size pickups and SUVs, be zero emission by 2035. It also targets 2040 for its global products and plants to be carbon neutral. GM made the announcements Thursday, stopping short of saying all of its vehicles will be zero emissions, which means …

The Verge reports: This week, United Airlines pledged to completely eliminate its greenhouse gas emissions by 2050. To make good on that promise, the company says it will invest in emerging technologies that capture planet-heating carbon dioxide from the air. It also plans to continue powering its flights with sustainable aviation fuel. United is the latest airline to respond to …

The Guardian reports: Chesapeake Energy, the shale gas drilling pioneer that helped to turn the United States into a global energy powerhouse, has filed for bankruptcy protection. The Oklahoma City-based company said on Sunday that it had been forced to enter chapter 11 protection because its debts of $9bn were unmanageable. It has entered a plan with lenders to cut …

Reuters reports: The Vatican urged Catholics on Thursday to disinvest from the armaments and fossil fuel industries and to closely monitor companies in sectors such as mining to check if they are damaging the environment. The calls were contained in a 225-page manual for church leaders and workers to mark the fifth anniversary of Pope Francis’ landmark encyclical “Laudato Si” …

The New York Times reports: As the climate continues to warm over the next half-century, up to one-third of the world’s population is likely to live in areas that are considered unsuitably hot for humans, scientists said Monday. Currently fewer than 25 million people live in the world’s hottest areas, which are mostly in the Sahara region in Africa with …

Politico reports: How financially sustainable is an industry if it is distorted by $5 trillion in annual subsidies? That’s the challenge laid out by United Nations Secretary General Antonio Guterres, who is taking direct aim at government subsidies for producers and consumers of fuels such as oil, gas and coal. “Fossil fuel subsidies must end, and polluters must start paying …

Reuters reports: Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War as Saudi Arabia and Russia signaled they would hike output in a market already awash with crude after their three-year supply pact collapsed. Despite sliding demand for crude due to the coronavirus, Riyadh made plans …

USA Today reports: Move over, freedom fries. Freedom gas is here. On Tuesday, the Department of Energy posted a press release about liquid natural gas exports, referring to natural gas as “freedom gas” and “molecules of U.S. freedom.” The release was about the Department of Energy’s authorization of increased exports of natural gas from a terminal located off the coast …

Wyoming Public Radio reports: One of the largest domestic coal companies has voluntarily filed for Chapter 11 bankruptcy. Cloud Peak Energy warned of its financial problems in November of last year. By 2018, Cloud Peak had nearly no cash, were hundreds of millions of dollars in debt, and sold less coal than it had in years. The company points to …

Axios reports: Sale of the one millionth electric vehicle in the U.S. is likely to occur this month, according to an estimate by the group Securing America’s Future Energy (SAFE) that’s based on data compiled by Inside EVs. It’s a symbolic threshold that signals growing adoption of the technology, even though it remains a small part of the overall U.S. …

The New York Times reports: A landmark report from the United Nations’ scientific panel on climate change paints a far more dire picture of the immediate consequences of climate change than previously thought and says that avoiding the damage requires transforming the world economy at a speed and scale that has “no documented historic precedent.” The report, issued on Monday …

Stand by for EPA head Scott Pruitt to denounce this as fake news: Atmospheric carbon dioxide levels hit a new high last year and have only continued to climb in the first two months of 2017, federal scientists reported Friday. The concentration of carbon dioxide in the atmosphere at a U.S. observatory in Hawaii rose by 3 parts per million …