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Big Oil Reality Check

By David Tong, et. al. - Oil Change International, September 2020

As oil and gas companies claim to be part of the solution of the climate crisis, the reality couldn’t be more different. Our new discussion paper analyzes the current climate commitments of eight of the largest integrated oil and fossil gas companies, and reveals that none come close to aligning their actions with the urgent 1.5°C global warming limit as outlined by the Paris Agreement.

This discussion paper measures oil and gas company climate plans against ten minimum criteria, focusing on the ambition, integrity, and ability necessary to implement a just transition and achieve a 1.5°C aligned managed decline of oil and fossil gas. Focusing on the oil majors, BP, Chevron, Eni, Equinor, ExxonMobil, Repsol, Shell, and Total, we find that only one company has committed to cutting oil and gas production over the next decade, and even that pledge (BP’s stated commitment to cut production by 40% by 2030) excludes around a third of the oil and gas it invests in extracting via its major share in oil giant Rosneft. Below is a summary table of these criteria included in the discussion paper.

Read the text (PDF).

Exposing a Ticking Time Bomb: How fossil fuel industry fraud is setting us up for a financial implosion, and what whistleblowers can do about it

By John Kostyack, Karen Torrent, Laura Peterson, and Carly Fabian - National Whistleblower Center - July 2020

In the past several years, U.S. states, cities, counties and individuals concerned about climate change have filed important lawsuits against fossil fuel companies, asserting that the companies are responsible for climaterelated damage due to their carbon pollution. These cases confront “what might be the greatest scam in history,” in the words of historian Naomi Oreskes: the massive disinformation campaign designed to stall action on climate change by persuading decision makers and the public that it is not a problem to be taken seriously.

In this report, the National Whistleblower Center focuses on a related deception that, with a small handful of notable exceptions, is unaddressed in the climate change lawsuits filed to date: the dramatic understatement of risks posed by climate change to fossil fuel companies’ own financial condition and to the economy at large. We describe an important pathway to ensuring proper disclosures of climate risks: collaborative work by whistleblowers, prosecutors and regulators to enforce anti-fraud laws.

This report is a call to action for executives of fossil fuel companies and others with knowledge of improper accounting and disclosure practices, such as external auditors, to take the steps needed to obtain protected whistleblower status and work with the Securities and Exchange Commission (SEC), other regulators and law enforcement officials to help expose and prosecute fraud. For the first time, legal strategies are provided for whistleblowers and others to expose and prosecute climate risk fraud in the fossil fuel industry. This is also the first report to use the methods of professional fraud investigators to identify fossil fuel industry financial disclosure practices that are likely to be fraudulent.

Climate risks—comprised of “transition risks,” the financial risks to some companies due to the world’s shift away from fossil fuels, and “physical risks,” those associated with climate change- related damage to property— uniquely threaten the finances of fossil fuel companies. Fossil fuel companies, fearful of losing access to investment capital and loans, are therefore highly motivated to conceal their exposure to these risks.

Concealment of climate risks is a matter of great public interest because when it is successful, it harms investors, the environment and the economy. Investors who provide capital to these companies suffer because they invest based on a false sense of the companies’ readiness for the transition to a low-carbon economy and for the physical shocks of climate change. This deception undercuts efforts to address climate change because it slows the shift of investments to businesses developing and deploying low-carbon technologies. It harms the economy by leaving financial institutions such as banks and insurers less prepared for the stresses of rapid asset deflation.

Read the report (PDF).

Why “Good Liberals” Won’t Save the Climate

By Scott Parkin - CounterPunch, October 24, 2018

“Shallow understanding from people of good will is more frustrating than absolute misunderstanding from people of ill will. Lukewarm acceptance is much more bewildering than outright rejection.”
–Martin Luther King Jr.

Greed Has Poisoned Their Souls

By Demand Climate Justice - The World at 1°C, September 9, 2017

Unless you are an environmental geographer or a regular reader of The World at 1°C, chances are you apply the term “natural disaster” to events such as Hurricane Harvey, the landslides in Sierra Leone which claimed 1000 lives, or any of the other countless climatic shocks felt over the last month.

The fact is that nothing could be more unnatural:

In every phase and aspect of a disaster […] the contours of disaster and the difference between who lives and who dies is to a greater or lesser extent a social calculus.”

This is true enough of events which occur irrespective of human activity, such as volcanic eruptions, but when it comes to the droughts, storms, floods, and famines (and, actually, even some earthquakes) caused by climate change or extractive industries, the term natural disaster hides not only a truth about differentiated impacts — it also masks a truth about where responsibility lies.

ExxonMobil, for example, has known that its continued existence causes climate change for decades. And ExxonMobil lied about having this knowledge with such abandon that now even their ex-employees are suing them (in addition to Californian communities affected by climate change). A journal article published this month was the first to analyse all of Exxon’s communications about climate change. It concluded that the corporation knew the facts thanks to its own scientists, yet continued to peddle doubt and foster confusion (including through paid editorials in liberal papers like the New York Times).

The very same ExxonMobil, which now has a major ‘in’ at the White House via Secretary of State Rex Tillerson, has been repeatedly let off the hook by authorities. One emblematic story recently published in The Intercept explains how the company has been poisoning a black community in Beaumont, Texas, for decades, by pumping millions of tonnes of toxic chemicals into the air while refining “sour crude.” The community, where people suffer from high rates of hair loss, birth defects, asthma, and cancer, tried to get the EPA to do something (the Exxon refinery regularly broke the law), but were ignored for 17 years. Those who could afford to moved away. Those who could not still live in the shadow of Exxon’s stacks, which stand as monuments to greed and indifference to human suffering.

The market-based “logic” of greenwashed capitalism is that if corporations must pay for doing things like ruining people’s lives or even ruining the planet, then they won’t do it, or at least not as much. But that is demonstrably untrue. Last year, Exxon’s Beaumont refinery illegally released 2,125 pounds of carbon monoxide, sulfur oxide, nitrogen dioxide, and hydrogen sulfide. They were fined $7001. Even when companies are fined much more — as Exxon was when one of its decrepit pipelines burst in 2013, flooding an Arkansas community with 200,000 gallons of Tar Sands oil — they are often able to appeal, as Exxon did.

If a conviction somehow sticks, corporations are sometimes able to ignore the ruling altogether, as these 3 companies appear to be doing in Indonesia. Following successful convictions with penalties in billions of dollars, the Indonesian government has been unable to collect. While the corporations make billions exploiting Indonesia’s vast mineral reserves and precious forests, the communities in the way are left destitute and savaged by both corporate mercenaries and state military forces.

Cognizant of (negative) publicity, corporations are careful to cover themselves with the fig leaf of “corporate social responsibility” and other such meaningless phrases which sound good but don’t mean much in practice. In a case that has echoes of ExxonMobil’s climate change cover-up, Monsanto was recently exposed in The Poison Papers as having made and sold a toxic industrial chemical known as PCB almost a decade after being told by their scientists that:

The evidence proving the persistence of these compounds and their universal presence in the environment is beyond questioning.”

In addition to covering up the horrendous health impacts of its PCB products, newly revealed documents show that Monsanto also conspired with a consultancy firm to “ghost write” a supposedly independent review of the health impacts of its flagship herbicide Roundup. Monsanto has since attempted to force the documents offline, out of sight.

What these examples make clear is that the ways in which people are made to suffer under the dominant social, political, and economic systems are not natural or innate. People suffer by design. And the designers have names like Exxon and Monsanto.

By Delaying Chemical Safety Rule, Pruitt Endangers First Responders and Refinery Towns

By Daniel Ross - Truthout, May 18, 2017

At 8:48 a.m. on the morning of February 18, 2015, an explosion at the ExxonMobil Torrance refinery in Southern California ripped through the facility with such ferocity, the resulting shockwaves registered on the Richter scale. Dust was scattered over the densely populated neighborhood up to a mile away from the blast. Four workers suffered minor injuries. A hulking 40-ton chunk of debris from the refinery's Electrostatic Precipitator narrowly avoided hitting a tank containing tens of thousands of pounds of highly toxic modified hydrofluoric acid.

The damning findings of a Chemical Safety Board (CSB) review of the accident were made public earlier this month. Among some of the problems identified in the report: the refinery repeatedly violated ExxonMobil's corporate safety standards leading up to the incident, while multiple gaps existed in the refinery's safety systems.

"It was only sheer luck that the hydrofluoric acid tank wasn't hit," said Dr. Sally Hayati, president of the Torrance Refinery Action Alliance. If it had been hit, the collision could have released a toxic ground-hugging cloud with the potential to kill for nine miles and cause serious and irreversible injuries for up to 16 miles under worst-case scenario projections, she added.

"This is yet another symptom of how in our country we always put profit ahead of safety," Hayati said.

Just before Obama exited office, his Environmental Protection Agency (EPA) put in place a new federal rule setting tougher safety procedures at facilities covered by the EPA's Risk Management Program (RMP). The rule is designed to prevent accidents like the 2015 Torrance refinery explosion from happening again, and to better protect first-responders and the communities perched in the shadow of facilities that store and use potentially dangerous chemicals.

According to EPA data, over 1,500 accidents were reported by RMP facilities between 2004 and 2013, causing more than $2 billion in property damages.

The new rule was supposed to come into effect in March. But after a petition opposing the rule was filed by a coalition of trade associations, the EPA initially stayed its implementation for three months. Then, after various states and companies in the refining, oil and gas, chemical and manufacturing sector filed further petitions, the EPA proposed to extend the stay an additional 20 months -- until February 19, 2019 -- in order to win time to consider these various petitions, and to possibly "revise" the RMP amendments.

Fearing that the EPA under Scott Pruitt will take the side of industry and further delay, weaken or even try to abrogate the new rule entirely, a coalition of community groups, scientists and environmental organizations filed a motion to intervene in the lawsuit last month.

"We don't expect Pruitt to defend [the rule]," said Gordon Sommers, associate attorney with Earthjustice, who filed the motion on behalf of the coalition. In a letter to the EPA last year when still Oklahoma attorney general, Pruitt asked the agency to withdraw the rule, citing national security concerns.

"We know where he stands and we know that his arguments are the same arguments that the big industries are making," said Sommers. "We know his priority is not protecting these communities."

Capital Blight News #122

Compiled by x344543 - IWW Environmental Unionism Caucus, September 20, 2016

A supplement to Eco Unionist News:

Lead Stories:

The Man Behind the Curtain:

Green is the New Red:

Capital Blight News #117

Compiled by x344543 - IWW Environmental Unionism Caucus, August 17, 2016

A supplement to Eco Unionist News:

Lead Stories:

The Man Behind the Curtain:

Green is the New Red:

Greenwashers:

Disaster Capitalism:

Other News:

For more green news, please visit our news feeds section on ecology.iww.org; Twitter #IWWEUC; Hashtags: #greenunionism #greensyndicalism #IWW. Please send suggested news items to include in this series to euc [at] iww.org.

Capital Blight News #116

Compiled by x344543 - IWW Environmental Unionism Caucus, August 10, 2016

A supplement to Eco Unionist News:

Lead Stories:

The Man Behind the Curtain:

Green is the New Red:

Greenwashers:

Disaster Capitalism:

Other News:

For more green news, please visit our news feeds section on ecology.iww.org; Twitter #IWWEUC; Hashtags: #greenunionism #greensyndicalism #IWW. Please send suggested news items to include in this series to euc [at] iww.org.

Capital Blight News #115

Compiled by x344543 - IWW Environmental Unionism Caucus, August 2, 2016

A supplement to Eco Unionist News:

Lead Stories:

The Man Behind the Curtain:

Green is the New Red:

Greenwashers:

Disaster Capitalism:

Other News:

For more green news, please visit our news feeds section on ecology.iww.org; Twitter #IWWEUC; Hashtags: #greenunionism #greensyndicalism #IWW. Please send suggested news items to include in this series to euc [at] iww.org.

Capital Blight News #114

Compiled by x344543 - IWW Environmental Unionism Caucus, July 27, 2016

A supplement to Eco Unionist News:

Lead Stories:

The Man Behind the Curtain:

Green is the New Red:

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