This new analysis, an update to the data in our landmark Sky’s Limit series, finds that the majority of the fossil fuel reserves within active fields and mines must now stay in the ground. Using updated 2023 data, the proportion of coal, oil, and gas reserves that must remain unextracted to meet the 1.5°C limit has increased from nearly 40% in 2018 to almost 60% in 2023.
Gas
Response: Congress betrayed people and the planet, but the Mountain Valley Pipeline will not be built
“By voting for a dirty deal that fast-tracks the Mountain Valley fracked gas pipeline and guts bedrock environmental laws, Congress betrayed people and the planet.”
Biden at risk of breaking climate promise with $500 million of public finance for LNG imports in Poland
Next week, the U.S. International Development Finance Corporation is likely to consider a $500 million guarantee to help Polish oil and gas company PKN Orlen increase its imports of U.S. LNG, violating Biden’s commitment to end public finance for fossil fuels by the end of 2022.
Response: Debt ceiling bill is a disaster filled with poison pills Congress must reject
“This is a manufactured crisis designed specifically to hurt working people, and our leaders don’t have to participate in this deadly charade. Congress should reject these poison pills that have no relation to the debt ceiling and pass a clean increase,” said Collin Rees.
Biden and Manchin are wrong about the Mountain Valley Pipeline and Energy Security
The Biden administration’s claims that the Mountain Valley Pipeline would help Europe or benefit national security — in Europe, in the United States, or anywhere else — are wildly unfounded.
Big Oil Reality Check 2023 — An Assessment of TotalEnergies, Eni, and Equinor’s Climate Plans
These briefings reveal that Total, Eni, and Equinor are on the cusp of approving a surge of new oil and gas development. If they proceed with all the projects in their anticipated pipeline for 2023, Eni could rank as the world’s third worst oil and gas expander this year and Equinor as the world’s eighth worst by the total volume of new reserves approved for extraction.
Changing the Trade Winds: Aligning OECD Export Finance for energy with climate goals
New research shows that Organisation for Economic Co-operation and Development (OECD) countries supported fossil fuel exports by an average of USD 41 billion from 2018-2020, almost five times more than clean energy exports ($8.5 billion).
Groups Pressure Japan, Biden to Oppose Global LNG Expansion + Stop G7 Push for Fossil Finance
“Our communities and climate cannot afford more fossil fuels, nor more dangerous distractions like carbon capture, hydrogen, or ammonia — it’s long past time to end the era of fossil fuels,” said Collin Rees.
Biden breaks major G7 climate promise by financing Indonesian oil refinery
“Biden’s claims to be a climate leader are increasingly laughable after EXIM’s approval of this refinery. If he can’t be trusted to keep this relatively modest promise, how can anyone trust the United States to live up to its even grander climate promises?” asked Adam McGibbon.
Oil and Gas Industry Captures UN Climate Process: UAE COP28 Presidency Undermines Climate Action
“As we feared and expected, the UAE Presidency of COP28 is putting the interest of the oil and gas industry above those of the climate process it is supposed to shepherd,” said Romain Ioualalen.