Tag Archive | fossil fuels

“OECD: leading countries spend $200bn a year subsidising fossil fuels”

A rig in China’s largest oilfield in Daqing. The collapse in oil prices over the past year offers a ‘unique opportunity’ for cash-squeezed governments to phase out support, says the OECD.

http://www.theguardian.com/environment/2015/sep/21/oecd-nations-200bn-subsidisies-fossil-fuels-climate-change

Rich western countries and the world’s leading developing nations are spending up to $200bn (£130bn) a year subsidising fossil fuels, according to a report from the Organisation for Economic Cooperation and Development.

The Paris-based thinktank said its 34 members plus six of the biggest emerging economies – China, India, Brazil, Indonesia, Russia and South Africa – were spending money supporting the consumption and production of coal, oil and gas that should be used to tackle climate change.

“Vatican official calls for moral awakening on global warming”

http://www.theguardian.com/environment/2015/apr/28/vatican-climate-change-summit-to-highlight-moral-duty-for-action?CMP=EMCENVEML1631

Increasing use of fossil fuels is disrupting Earth on an “almost unfathomable scale”, a top Vatican official has said, warning that a “full conversion” of hearts and minds is needed if global warming is to be conquered.

 

“Fossil fuels to be stranded by economics, innovation and climate”

http://reneweconomy.com.au/2015/fossil-fuels-to-be-stranded-by-economics-innovation-and-climate-70623

Fossil fuel.companies face an increasingly “acute” risk of becoming “stranded assets”, as a result of climate change policies, changing economics such as plunging commodity prices, and the impact of new technologies such as solar and storage.

 

Fossil-Fuel Limits Emerge as Target for Deal on Warming

fossilfuellimits

http://www.bloomberg.com/news/articles/2015-02-13/fossil-fuel-limits-emerge-as-target-for-deal-on-warming

Envoys from some 190 nations are taking more seriously the idea of setting a goal for phasing out the pollution from fossil fuels, lending support to the movement against investments in oil and coal companies.

After a week of discussions in Geneva, delegates convened by the United Nations adopted an 86-page draft document with options including the near-elimination of greenhouse-gas emissions by 2050 or 2100 — or to suck the most destructive fumes out of the atmosphere by 2080.

“Fossil fuel promises are being broken, report says”

fossilfuelpromises

http://www.bbc.co.uk/news/uk-politics-29985382

The Overseas Development Institute says G20 nations spent almost £56bn ($90bn) a year finding oil, gas and coal.

It comes despite evidence that two thirds of existing reserves must be left in the ground if the world is to avoid dangerous climate change.

Harvard Seeks the Truth

harvard

Harvard Faculty Urges University to Divest From Fossil Fuels

http://www.bloomberg.com/news/2014-04-10/harvard-faculty-urges-university-to-divest-from-fossil-fuels.html

A group of Harvard University faculty has joined a student-led effort to force the Ivy League school to divest from fossil-fuel companies.

An open letter released today and signed by almost 100 members of the faculty calls on Harvard to sell interests in oil, gas and coal companies held in its $32.7 billion endowment. It was addressed to Drew Faust, the university’s president, and the fellows of the Harvard Corporation, the group of trustees that oversees the Cambridge, Massachusetts-based Ivy League school.

 

“Phasing Out Fossil Fuel Subsidies”

energy_subsidy_figure_1_0

http://vitalsigns.worldwatch.org/vs-trend/phasing-out-fossil-fuel-subsidies

Efforts to quantify global support for fossil fuels by the International Energy Agency (IEA), the Organisation for Economic Co-operation and Development (OECD), the International Monetary Fund (IMF), and a variety of nongovernmental organizations have generated a wide range of estimates. The amounts identified range from $523 billion to over $1.9 trillion, depending on the calculation and what measures are included. What is clear is that the level of support has rebounded to 2008 levels following a dip in 2009–10 during the global financial crisis.

lightbulblogo

Would the economic recovery have been as strong without subsidized energy prices? If economic growth is dependent on subsidized energy this seems unsustainable in the long-term.

Have the people who benefited from these subsidized energy prices paid their fair share of the taxes that funded these subsidies?

“Boeing Seeks to Add Diesel From Vegetable Oils to Flights”

vegetableoil

http://www.bloomberg.com/news/2014-01-14/boeing-seeks-to-add-diesel-from-vegetable-oils-to-flights.html

Boeing Co. (BA), the biggest commercial airplane maker, is seeking approval from U.S. regulators to fuel jets with a “green” diesel made from vegetable oils and fats that will reduce consumption of fossil fuels and curb greenhouse-gas emissions.

The fuel produces less than half the carbon dioxide emissions over its life cycle than fossil fuels and will cost about $3 a gallon in the U.S., Chicago-based Boeing said today in a statement.

Approval to use a fuel made from vegetable fats would increase options for airlines that are already using other types of biofuels made from inedible plant material.