Category: Daily News

Cities Suing Big Oil Over Climate Change Forced To Answer About The Benefits Of Fossil Fuels

California cities suing over climate change must examine the benefits fossil fuels have had on civilization, per an assignment from a federal judge.

San Francisco and Oakland have initiated a lawsuit against five major oil companies in an attempt to hold them financially responsible for climate change. The case is being heard in the United States District Court in San Francisco. The oil companies being targeted — Chevron, BP, ConocoPhillips, ExxonMobil and Royal Dutch Shell — have urged U.S. District Judge William Alsup to dismiss the case.

Environmentalists have increasing taken to the judicial branch to wage war against energy companies, with a similar lawsuit taking place in Colorado.

On Thursday, Judge Alsup gave attorneys for Oakland, San Francisco and Chevron Corp. an interesting homework assignment: create a 10-page legal analysis on whether the benefits of years of U.S. dependence on fossil fuels were worth the climate change it caused. (RELATED: An Oil Company Just Earned A Huge Settlement After Environmentalists Brought False Charges)

“We needed oil and fossil fuels to get from 1859 to the present,” Judge Alsup stated. “Yes, that’s causing global warming. But against that negative, we need to weigh-in the larger benefits that have flowed from the use of fossil fuels. It’s been a huge, huge benefit.”

Judge Alsup centered his questions on the “broader sweep of history” and the role fossil fuels played in both World Wars and the economic boom the U.S. experienced afterward. All five oil companies are seeking dismissal, but only Chevron will respond to the judge’s assignment since the other defendants are seeking dismissal on jurisdictional grounds.

“You’re asking for billions of dollars for something that hasn’t happened yet,” Alsup said during a back-and-forth with Steve Berman, the plaintiff’s attorney. “We’re trying to predict how bad global warming will be in 75 years.”

Full story

via The Global Warming Policy Forum (GWPF)

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May 28, 2018 at 03:50AM

Britain’s supply of electric cars at risk from Brexit: think-tank

Credit: mining.com

As with climate, there’s always another Brexit scare story coming off the production line. This one comes via news agency AFP.

Britain risks a shortage of electric cars after Brexit as carmakers will lose an incentive to sell low-emission vehicles there, a Brussels-based think-tank warned.

Because British sales will no longer count towards carmakers’ EU carbon dioxide targets, they may choose to sell to other European countries instead, the Transport and Environment (T&E) group warned.

Britain was the third largest market for zero emission vehicles in the EU last year and the largest for plug-in hybrids, the group said in the report obtained by AFP.

“Carmakers may simply opt to dump their less efficient models in the UK market,” said Cecile Toubeau of T&E.

Full report here.

via Tallbloke’s Talkshop

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May 28, 2018 at 03:31AM

Looking for Reasons Why Wind Power Can Never Work? Here’s the Top 21

It doesn’t take a genius to work out that wind power is the greatest economic and environmental fraud of all time. All it takes is a little cognitive power and a sense of inquiry. Once people work out that they’ve been conned, they never turn back. In our travels we’ve met plenty who’ve started out … Continue reading "Looking for Reasons Why Wind Power Can Never Work? Here’s the Top 21"

via STOP THESE THINGS

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May 28, 2018 at 02:31AM

GREEN GROUPS CAUGHT OUT INVESTING IN FOSSIL FUELS


InsideSources, 22 May 2018

Divesting From Fossil Fuels Is Harder Than Green Groups, Liberal Cities Might Have Thought

Environmental groups, including the World Wildlife Fund (WWF), the American Museum of Natural History, and several left-leaning funds have investments in private equity firms specializing in oil and gas even as their public messaging hyped concerns about the role of fossil fuel use in climate change.

Over the last several years, divestment has become a more and more common goal for environmental protesters, who have tried to get cities, universities, and other groups to stop investing in fossil fuel production. What is more surprising is that nonprofits who loudly support these causes also invest in conventional energy, even as they encourage others to divest.
 

According to leaked documents, environmental groups, including the World Wildlife Fund (WWF), the American Museum of Natural History, and several left-leaning funds had investments in private equity firms specializing in oil and gas even as their public messaging hyped concerns about the role of fossil fuel use in climate change.

According to documents revealed in the Paradise Papers, a trove of 13 million documents detailing offshore investments, nonprofits including the American Museum of Natural History, the World Wildlife Fund, and the University of Washington invested in a fund known for its investments in oil, natural gas, and mining.

The papers show that the WWF invested $2 million with Denham Capital, an international private equity firm specializing in oil and gas investments. The WWF entered into an agreement with the firm in 2008 and which is not slated to expire until 2020. Getting out of the deal early would be difficult, say financial observers.

WWF was not the only environmental group to invest with Denham. The American Museum of Natural History in New York City committed $5 million to the fund even after putting on a series of exhibits highlighting the connection between fossil fuels and global warming.

The Museum has told reporters that it is working to both reduce its investments in fossil fuels and to consider opportunities for renewable energy investments. WWF says that it offset the proceeds of its fossil fuel investments through other financial instruments and that in the future, it will not invest in fossil fuels.

The University of Washington in Seattle also invested in the fund. The David and Lucile Packard Foundation and the William Penn Foundation, both groups which awarded grants to environmental projects, did not invest with Denham specifically, but still had fossil fuel investments.

Because the investments were through a private equity firm, their existence was hidden prior to the release of the Paradise Papers. Tax forms filed by nonprofits do not require a detailed list of these types of investments. Without the leak, most of the investments would likely not have been uncovered.

The papers are another example of the difficulty of severing all ties to fossil fuels when putting together an investment portfolio. Despite widespread pushes for divestment on the part of green groups, large institutions like cities and universities have found it next to impossible to cut all ties.

via climate science

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May 28, 2018 at 01:30AM