Five trillion US dollars annually – that’s how much is being lavished in various forms of subsidies on the global fossil fuel industry, according to a recent report by the International Monetary Fund (IMF). US$10 million a minute – more than the health budgets of every country on earth combined.
We’re told that there’s not enough money for decent health care, education or welfare. But the equivalent of 6.5 percent of global GDP is being poured into an industry that’s driving the world to social and environmental catastrophe.
A new report released today by Oil Change International, Natural Resources Defense Council (NRDC), and World Wide Fund for Nature (WWF) exposes for the first time a web of billions of dollars of public finance flowing to support the coal industry each year by way of export support, development aid and general finance.
The analysis finds that public finance has played a significant role in supporting coal projects over the last 8 years. The report shows that between 2007 and 2014, more than US $73 billion – or over $9 billion a year – in public finance was approved for coal.
Mark Nechodom, the controversial director of the California Department of Conservation, the agency that oversees the Division of Oil, Gas, and Geothermal Resources (DOGGR), resigned on Thursday, June 4.
DOGGR is the agency charged with regulating the state's oil and gas industry. Governor Jerry Brown in 2011 appointed Nechodom, who is considered very friendly to the oil industry, to the post in order to expedite permits for oil drilling in Kern County and elsewhere.
As G7 leaders gather in Germany this weekend, Oxfam International was among the scores of groups and thousands of people in the street in protest on Saturday as they slammed the world's top industrialized nations for continuing to push energy and financial policies that are dooming the planet to climate misery and growing inequality while leading millions of people towards deeper hunger and food insecurity.
MIDDLEBURY, Vt. — THE Obama administration’s decision to give Shell Oil the go-ahead to drill in the Arctic shows why we may never win the fight against climate change. Even in this most extreme circumstance, no one seems able to stand up to the power of the fossil fuel industry. No one ever says no.
The FBI breached its own internal rules when it spied on campaigners against the Keystone XL pipeline, failing to get approval before it cultivated informants and opened files on individuals protesting against the construction of the pipeline in Texas, documents reveal.
Internal agency documents show for the first time how FBI agents have been closely monitoring anti-Keystone activists, in violation of guidelines designed to prevent the agency from becoming unduly involved in sensitive political issues.
DeSmogBlog has obtained dozens of emails that lend an inside view of how the U.S. State Department secretly handed Enbridge a permit to expand the capacity of its U.S.-Canada border-crossing Alberta Clipper pipeline, which carries tar sands diluted bitumen (“dilbit”) from Alberta to midwest markets.
In March, Secretary of the Interior Sally Jewell cited a methane gas plume the size of Delaware hovering over the Four Corners area in Northwest New Mexico as evidence that the Interior Department needs to cut “wasted gas that results from venting and flaring during oil and gas operations.”