fossil fuel capitalism

By Andreas Malm - International Viewpoint, September 12, 2022

Andreas Malm is a Swedish ecosocialist activist and author of several books on fossil capital, global warming and the need to change the course of events initiated by the burning of fossil fuels over the last two centuries of capitalist development. The Jeunes Anticapitalistes (the youth branch of the Gauche Anticapitaliste, the Belgian section of the Fourth International) met him at the 37th Revolutionary Youth Camp organized in solidarity with the Fourth International in France this summer, where he was invited as a speaker.

As left-wing activists in the climate movement, we sometimes feel stuck by what can be seen as a lack of strategic perspectives within the movement. How can we radicalize the climate movement and why does the movement need a strategic debate in your opinion?

I share the feeling, but of course it depends on the local circumstances – this Belgian “Code Red” action, this sort of Ende Gelände or any similar kind of thing, sounds promising to me, but you obviously know much more about it than I do. In any case, the efforts to radicalize the climate movement and let it grow can look different in different circumstances.

One way is to try to organize this kind of big mass actions of the Ende Gelände type, and I think that’s perhaps the most useful thing we can do. But of course, there are also sometimes opportunities for working within movements like Fridays for Future or Extinction Rebellion for that matter and try to pull them in a progressive direction as well as to make them avoid making tactical mistakes and having an apolitical discourse. In some places, I think that this strategy can be successful. Of course, one can also consider forming new more radical climate groups that might initially be pretty small, but that can be more radical in terms of tactics and analysis, and sort of pull others along, or have a “radical flank” effect. So, I don’t have one model for how to do this – it really depends on the state of the movement in the community where you live and obviously the movement has ups and downs (it went quite a lot down recently after the outbreak of the pandemic, but hopefully we’ll see it move back up).

Finally, it’s obviously extremely important to have our own political organizations that kind of act as vessels for continuity and for accumulating experiences, sharing them and exchanging ideas. Our own organizations can also be used as platforms for taking initiatives within movements or together with movements.

By unknown - Golden State Grid, September 9, 2022

What You Need To Know:

• The California Building and Construction Trades Council came down on the losing side of key legislative fights and party platform disputes this legislative session, and found itself crosswise with Governor Newsom and other leading unions on a much-hyped electric vehicle ballot measure.

• These losses reflect a stunning fall from grace for The Trades, an organization that political insiders and journalists often treat as an all powerful force in Sacramento with the juice to successfully back, or block, key legislation.

• This year’s losses worsened an already rapidly widening rift between The Trades and key Democratic power players, including other key labor unions, the Newsom Administration, and even senior leadership within the Democratic Party. 

• This sudden loss of influence corresponds with the tenure of Andrew Meredith, the new and largely untested leader of The Trades, who has positioned the organization as a juggernaut that could threaten and bully the Democratic Party and its leaders into submission—a strategy that appears to be backfiring. 

By R.C. Smith - PhD Dissertation, September 1, 2022

Oil and finance have long played central roles in defining how the global economy has developed and this is especially true of the modern neoliberal economic system. One factor of their relationship that is often unexamined is how oil industry profits and liquid capital influence the developments of finance. Understanding their relationship during the modern period first requires understanding this petrocapital cycle, how it influences economic development, and the ways that its rise to prominence in the 1970s transformed the global capitalist financial system.

We are living in a world that has been shaped by the demands of oil and finance. Under the neoliberal capitalist order these two sectors enjoyed central roles in setting the pace of the global economy. Shocks in the price of oil, as recent events like the record-high oil prices experienced following Russia’s 2022 invasion of Ukraine have reminded us, tend not to stay confined to the fuel pump and radiate throughout our economic system. One particular avenue of influence that is often not seen but is widely felt is the reinvestment of oil profits in global financial markets. This question was first thoroughly examined in Mahmoud el-Gamal and Amy Myers Jaffe’s Oil, Dollars, Debt, and Crises: The Global Curse of Black Gold which traced the relationships that formed the endogenous petrocapital cycle, which is the reinvestment of the profits reaped by oil exporters in financial markets and how this changed global credit and financial markets. The Real Oil Shock builds on their earlier work by digging deeper into the birth of this process in the Oil Shocks of the 1970s. It will do this by examining how OPEC’s windfall capital fundamentally changed financial markets, practices, and the creation of money.

What The Real Oil Shock is examining is not a new phenomenon in economic history. The human experience abounds with instances where dramatic redistributions of wealth and resources created significant changes in the existing social and economic order. An excellent example comes from the Spanish colonization of the Americas. Exploitation of gold, silver, and other precious metals in the Americas provided the Spanish monarchy with an enormous windfall of liquid capital. This was spent by the Spanish monarchy on projects of the state, fighting wars, and expanding their influence in Europe. This put increasing quantities of Spanish doubloons in circulation outside of domestic markets. Spanish gold had become the capital for Dutch, English, and French merchants for financing their own commercial, industrial, and colonial enterprises whose activities were the foundation of early modern capitalism in Europe.

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By staff - Fight the Fire, September 2022

There are three aspects to the war in Ukraine.

First, the war began as a Russian invasion. A large majority of Ukrainians support the resistance by the Ukrainian armed forces. This is a fight for democracy. Invasion is always an act of dictatorship, whether in Ukraine, Vietnam, Afghanistan, Iraq or Palestine.

Putin’s invasion is of a piece with his previous military interventions in Chechnya, Georgia, Kazakhstan, Kirghizstan and Syria. This is part of reestablishing Russian power and influence in the region of the old Soviet Union and the previous Russian Empire.

But Putin is also afraid of the spreading movements for democracy in Belarus and Central Asia. And he is afraid of the growing internal opposition in Russia. Military excursions to solidify internal power are a constant in the history of Putin’s Russia.

A victory for Ukraine would make the movements for democracy in Central Asia and Eastern Europe stronger.

But then there is the second aspect: this is a real war between Russia and Ukraine. But it is also a proxy war between the United States / NATO and Russia.

What this is not is a confrontation between the forces of democracy led by Biden, Scholtz and Macron and the forces of dictatorship led by Putin. What Russia is doing to Ukraine now, the US has done to many countries. Joe Biden supported the American invasions of Vietnam, Somalia, Afghanistan and Iraq. Washington, Paris and Frankfurt have supported the Israelis, the Assads in Syria, the Saudis in Yemen and Sisi in Egypt. The list goes on and on.

The most important climate crime in the world right now is the US economic blockade of Afghanistan. The purpose of this blockade is to punish the Taliban and the Afghan people for defeating the American military. The blockade has turned a serious drought caused by climate change and a massive earthquake into a serious famine.

A victory of Ukraine over Russian invasion would also strengthen the power of NATO and American imperialism in many parts of the world.

The third aspect of the war is political. Putin is the leading figure in the growing global movement of the racist right. Other leading figures include Modi in India, Bolsonaro in Brazil, Trump in the United States, Orban in Hungary, Le Pen in France and Duterte and Marcos in the Philippines. There are many more leaders, in many more countries, that constitute this reactionary international, which is a bullwark for climate chaos.

By staff - Labor Network for Sustainability, September 2022

Passage of the Inflation Reduction Act reveals the power that can arise when the movements for worker protection, climate protection, and justice protection join forces.

The fossil fuel industry, the Republican Party, conservative fossil-fuel Democrats, and right-wing ideologues combined to block the climate, labor, and social justice programs of the Green New Deal and Build Back Better. They almost succeeded. But at the last minute, the combined power of climate protectors, worker advocates, and justice fighters was enough to force passage of the Inflation Reduction Act, the most significant climate legislation in U.S. history.[1]

That power was enough to include important positive elements in the Inflation Reduction Act. It will provide the largest climate protection investment ever made. It will create an estimated 1 to 1.5 million jobs annually for a ten-year period.[2] It includes modest but significant funding to address pollution in frontline communities.[3]

But the power of the fossil fuel industry and its allies was still enough to gut important parts of a program for climate, jobs, and justice – and to add provisions that promote injustice and climate change. The legislation includes only one-quarter of the investment necessary to meet the Paris climate goals and prevent the worst consequences of global warming. It allows much of its funding to be squandered on unproven technologies that claim to reduce greenhouse gas emissions but whose primary effect may simply be to permit the continued burning of fossil fuels – and enrich their promoters. It allows increased extraction of fossil fuels, especially on federal lands. It allows massive drilling and pipeline construction that will turn areas like the Gulf Coast and Appalachia into de facto “sacrifice zones” where expanded fossil fuel infrastructure will devastate the environment – and the people. It does not guarantee that the jobs it creates will be good jobs. It makes few “just transition” provisions for workers and communities whose livelihoods may be threatened by the changes it will fund.

By staff - Extinction Rebellion UK, August 25, 2022

The cost of living crisis is escalating week on week, the movement to refuse to pay energy bills is gaining momentum and workers from an increasing range of industries are voting to take strike action for livable wages and secure jobs. Railway and tube staff, bus drivers, communications workers, warehouse workers and postal workers are among those striking or staging protests in recent weeks. 

At the same time the UK just recorded it’s hottest ever temperature and Extinction Rebellion is seeing a spike in interest from people who have decided now is the time to step-up and take action – over 1000 people registered for our last Open Call and the ‘Welcome to XR’ sessions have seen a significant increase in attendees. 

In this context we need to speak clearly about the common interests of striking workers and the environmental movement.

By Yessenia Funes - Atmos, August 10, 2022

Depending on whom you ask, the United States is on the verge of passing one of its most beneficial climate bills—or one of its most harmful. The Inflation Reduction Act is historic, hands down, but it’s also imperfect in the way it continues to prop up the fossil fuel industry at a time when we need to urgently invest in new energy sources. 

The Senate voted to pass the bill Sunday (which all Republicans opposed), and it’s now in the hands of the House of Representatives, which is slated to vote on it later this week. For the first time in my lifetime at least, the U.S. government is on course to pass a climate policy that can actually reduce emissions on a national scale—but at what cost?

Welcome to The Frontline, where we’re still awaiting climate justice. I’m Yessenia Funes, climate director of Atmos. President Joe Biden promised us sweeping climate action, and he finally delivered. However, the Inflation Reduction Act is not built on the foundations of climate and environmental justice. It continues the traumatic legacy of sacrificing Black and Brown communities—of handing over their lives to the fossil fuel sector. Leaders on the frontlines are preparing to fight back.

By staff - Labor Network for Sustainability, August 8, 2022

The fossil fuel industry, the Republican Party, conservative fossil-fuel Democrats, and right-wing ideologues combined to block the climate, labor, and social justice programs of the Green New Deal and Build Back Better resulting in compromise legislation, the Inflation Reduction Act. 

Passage of the IRA, despite its drawbacks and limitations, is the most significant climate legislation ever passed into law. It could represent a huge opportunity for the labor-climate movement to shape the significant federal subsidies provided for non-fossil energy development, manufacturing, and for consumers. It will create an estimated 1 to 1.5 million jobs. It includes very modest funding to address pollution in frontline communities.

But the power of the fossil fuel industry and its allies was still enough to gut important parts of a program for climate, jobs and justice – and to add provisions that promote injustice and climate change. The legislation includes only one-quarter of the investment necessary to meet the Paris climate goals and prevent the worst consequences of global warming. It allows much of its funding to be squandered on unproven technologies that claim to reduce greenhouse gas emissions but whose primary effect may simply be to permit the continued burning of fossil fuels – and enrich their promoters. 

It allows increased drilling for fossil fuels, especially on federal lands. It allows drilling and pipeline construction that will continue to see areas like the Gulf Coast and Appalachia turned into de facto “sacrifice zones” where expanded fossil fuel infrastructure will devastate the environment – and the people. It does not guarantee that the jobs it creates will be good union jobs. It makes no “just transition” provisions for workers and communities whose livelihoods may be threatened by the transition to a climate-safe economy. 

The Inflation Reduction Act can provide the basis for an unprecedented people’s mobilization for climate, labor, and justice. That is what it will take to provide a sustainable future for our environment and a fairer economy.

By staff - Green Workers Alliance, August 8, 2022

Green Workers Alliance Praises Clean Energy Provisions of Reconciliation Bill, Opposes Fossil Fuel Concessions

“This bill is just a first step - and we will continue by taking the fight directly to utility companies to force them to use more renewable energy and help create millions of good, green jobs.”

Washington D.C. - In response to the Senate passing the climate and tax package now known as the Inflation Reduction Act, the Green Workers Alliance, an organization made of renewable energy workers, released the following statement:

The reconciliation bill which includes $260 billion in funding for renewable energy projects is a significant victory for people and the planet as we transition to an economy based on renewable energy. The bill is also a welcome boost for more than 400,000 renewable energy workers, many of whom have been laid off due to supply chain issues. The tax credits and other financial incentives will help kick-start renewables projects across the nation and put people back to work, and the labor provisions incentivizing prevailing wages and apprenticeships will help ensure these projects create good, middle-class jobs.

But while much of the bill is a noteworthy achievement given the current political landscape, we strongly oppose the provisions greenlighting more fossil fuel projects in protected natural lands and offshore and speeding up approval of pipeline projects. Continued investment in fossil fuel projects not only contributes to climate change, but also causes serious harm to local communities, especially people of color. We will continue to stand with front-line communities and fight for a renewable energy future, one that is free from the corruption and pollution of the fossil fuel industry.

The concessions in this bill are just another example of the long-running campaign by the fossil fuel industry and investor-owned utilities to continue pumping out fossil fuels, raking in huge profits while emitting harmful and deadly pollution at the expense of the people, the planet, and workers. Utilities emit 25 percent of the nation’s greenhouse gas emissions. This bill is just a first step - and we will continue by taking the fight directly to utility companies to force them to use more renewable energy and help create millions of good, green jobs.

Together, renewable energy workers, front-line communities, and citizens everywhere can take on corporate power and win a just, green economy.

Green Workers Alliance is an organization made of renewable energy workers demanding more and better jobs in the field and a just transition off fossil fuels.