fossil fuel capitalism

By Susan Price, Rika Müller-Vahl, Jeremy Brecher, Ferron Pedro, and Luke Esoiritu
- Global Ecosocialist Network, June 18, 2023

By Betony Jones and David Roberts - Volts, June 16, 2023

Will the US clean-energy transition be hampered by a shortage of electricians, plumbers, and skilled construction workers? In this episode, Betony Jones, director of the DOE’s Office of Energy Jobs, talks about the challenge of bringing a clean energy workforce to full capacity and the need for job opportunities in communities impacted by diminished reliance on fossil fuels.

• Listen HERE
• Transcript HERE

By Kenny Stancil - Common Dreams, May 31, 2023

"Total employment in the nationwide U.S. energy sector could double or even triple by 2050 to meet the demand for wind turbines, solar panels, and transmission lines," according to a new study.

Achieving net-zero greenhouse gas emissions in the United States by mid-century would lead to a net increase in energy-related employment nationwide, and Republican-voting states whose leaders have done the most to disparage climate action would see the largest growth in green jobs.

That's according to research published in the latest issue of the peer-reviewed journal Energy Policy. The new study, summarized Tuesday by Carbon Brief, undercuts the old right-wing canard that environmentally friendly policies are inherently bad for workers.

Four academics led by Dartmouth College engineering professor Erin Mayfield found that shifting to a net-zero economy could create millions of jobs in low-carbon sectors—enough to "offset" losses in the declining fossil fuel industry, not only in the aggregate but also in most dirty energy-producing states, which tend to be GOP strongholds.

"Total employment in the nationwide U.S. energy sector could double or even triple by 2050 to meet the demand for wind turbines, solar panels, and transmission lines," Carbon Brief reported. Such growth in clean power generation and dissemination "would outweigh losses in most of the country's fossil fuel-rich regions, as oil, coal, and gas operations close down."

The study adds to mounting evidence that so-called "red" states now dominated by Republicans and fossil fuel interests—including particularly sunny and windy ones like Oklahoma, Texas, and Wyoming—stand to reap the biggest rewards from the green industrial policy provisions in the Inflation Reduction Act passed by congressional Democrats and signed into law by President Joe Biden last year.

At the same time, the authors acknowledge that some GOP-controlled dirty energy-producing states, such as North Dakota, are likely to see net decreases in energy sector employment, and they stress that "many communities will still require help to ensure a 'just transition' away from fossil fuels," as Carbon Brief noted.

By Katt Ramos, et. al. - Maya Media, May 28, 2023

By Virginia Parks, Robert Zardeneta, Norman Rogers, and Tracy Scott - The Climate Center, May 24, 2023

By Kenny Stancil - Common Dreams, May 24, 2023

"It's time that the steel industry take the growing need and demand for fossil-free steel seriously," said one advocate.

Progressive organizers on Wednesday urged steelmakers to swiftly adopt the clean manufacturing methods needed to achieve a shift from coal-based steel to "green steel."

At the Great Designs in Steel conference held in a Detroit suburb, Public Citizen and Mighty Earth activists used a series of digital ads and mobile billboards to call on industry insiders and automotive executives to accelerate the nascent transition from dirty to clean steel by fully embracing low- to zero-carbon production processes—one of many changes that scientists say are necessary to avert the worst consequences of the fossil fuel-driven climate crisis.

"Steel manufacturing remains one of the most energy-intensive and polluting aspects of making a vehicle, but there are solutions to clean it up," Erika Thi Patterson, supply chain campaigns director at Public Citizen, said in a statement. "As companies and governments work to meet net-zero climate commitments, it's time that the steel industry take the growing need and demand for fossil-free steel seriously and embrace the cleaner technologies that exist today."

"Insiders at this conference," Patterson continued, "need to recognize the inevitability of green transportation and move in that direction quickly and forcefully."

At the conference venue, mobile billboards denounced steelmaker Cleveland-Cliffs Inc.'s recent announcement that it plans to stick with coal-powered blast furnaces in the near term. Rival company U.S. Steel, by contrast, is ramping up the use of lower-emission electric arc furnaces at its mini-mills.

Billboards with the message, "Cleveland-Cliffs: Ditch the past, embrace the Green Steel future!" circled the venue for the duration of the meeting.

By Nina Pušić and Claire O’Manique - Oil Change International, May 23, 2023

This new Oil Change International report shows that Organisation for Economic Co-operation and Development (OECD) countries supported fossil fuel exports by an average of USD 41 billion from 2018 to 2020, almost five times more than clean energy exports. This directly contradicts internationally agreed climate goals, including the Paris Agreement objective to align financial flows with the low-carbon energy transition.

A majority of international public finance for fossil fuels is provided by OECD governed Export Credit Agencies (ECAs), with 71 percent of export financing for energy going to oil and gas.

OECD ECAs play a particularly influential role in getting large fossil infrastructure projects built. They invested in 56 percent of new hazardous liquified gas (LNG) export terminal capacity built in the last decade (providing at least USD 81 billion), helping drive the global fossil gas boom by getting these large keystone projects built. Overall, about 42 percent of all fossil fuel finance from ECAs under the OECD supported midstream infrastructure activities, such as pipelines, LNG ports, and shipping.

This new report recommends that OECD countries present an ambitious proposal to prohibit financing all oil and fossil gas projects in order to align with a 1.5ºC warming limit.

Authors of the report recommend that:

• Australia, Norway, Turkey, Korea, and Japan, urgently sign onto the Clean Energy Transition Partnership (CETP);
• OECD members that have already signed onto the CEPT, including the United Kingdom and Canada, fulfill their commitment to “driv[e] multilateral negotiations in international bodies, in particular in the OECD” to align with the Paris Agreement goals and present a proposal for an OECD oil and gas export finance prohibition;
• OECD members close the existing coal loopholes, to extend the coal-fired power prohibition to cover coal mining, transport, and associated infrastructure;
• OECD members ensure that under the Climate Change Sector Understanding (CCSU) no favorable investment conditions are offered to any project or technology derived from fossil gas, including but not limited to blue, gray, and black hydrogen and ammonia, or projects that extend the lifetime of fossil fuel assets.

Download a copy of this publication here (PDF).

By Harrison Tasoff - The Current, May 18, 2023

As society reckons with climate change, there’s a growing call to keep fossil fuels right where they are, in the ground. But the impact of curtailing oil production will depend on the policies we implement to achieve this.

An interdisciplinary team of researchers investigated the carbon emissions, labor and health implications of several policies to reduce oil extraction, with a special focus on how the effects vary across different communities in California. Their results, published in Nature Energy, illustrate the tradeoffs between different strategies. For instance, models banning oil extraction near communities produced greater health benefits across the state, but they also led to more job losses, with disadvantaged communities feeling about one third of both the costs and the benefits.

With a goal to reach carbon neutrality by 2045, California is currently implementing some of the world’s most ambitious climate policies. As the country’s seventh largest oil-producing state and the world’s fifth largest economy, California provides a unique setting to study supply-side decarbonization policies. It already has a carbon cap-and-trade program and is currently debating a setback policy that would ban new oil production near communities.

Many considerations

Petroleum production is a multifaceted endeavor. The greenhouse gas emissions from burning fossil fuels are the main driver of climate change. Extracting these resources also emits CO₂ into the environment, in addition to air pollution and toxic substances. Any policies seeking to curb oil production will affect people for better and worse. The industry employed 25,000 Californians in 2019, and provides tax revenue to local governments. “Our analysis is trying to quantify what those tradeoffs look like as the state considers different policies,” said co-author Kyle Meng, an associate professor in UC Santa Barbara’s economics department and the Environmental Markets Lab (emLab) at the Bren School of Environmental Science & Management.

By James Tapper - The Guardian, May 14, 2023

People investing their pensions in funds that claim green credentials are being warned they may actually be backing the world’s largest oil and gas companies.

Carbon Tracker Initiative said that asset managers have invested $376bn (£295bn) in oil and gas companies, despite publicly pledging to back efforts to limit global temperature rises to 1.5C. The environmental thinktank based in London and New York found that more than 160 funds with a green label held $4.6bn in 15 companies including ExxonMobil, Chevron and TotalEnergies.

It also found that 25 members of the Net Zero Asset Managers initiative had invested in those companies and some had increased their holdings in 2022. NZAM said its international initiative started two years ago and investors needed time to change their strategies.

The warning comes as the UK’s Financial Conduct Authority prepares to publish anti-greenwashing rules that are intended to clean up how investment funds are labelled.