Ukraine war: Fossil fuel ‘gold rush’ could make global warming irreversible

Ukraine war: Fossil fuel ‘gold rush’ could make global warming irreversible

The Ukraine war has caused a “gold rush” for new fossil fuel projects, threatening to lock us into irreversible global warming, according to leading climate researchers. A new report from Climate Action Tracker (CAT) has found that soaring energy prices in the wake of Russia’s invasion have caused more investment in oil and gas projects. … Read more

Fossil Fuels Aren’t Going Away Anytime Soon

Fossil Fuels Aren’t Going Away Anytime Soon

Calls for the end of all investments in new oil and gas production, protests demanding the immediate suspension of oil production, and denunciatory reports from environmental NGOs slamming banks for still financing fossil fuels have become fixtures of today’s life in the West. But fossil fuels are going nowhere, at least in the observable future. … Read more

The Oil And Gas Industry Is Booming Despite Net-Zero Ambitions

The Oil And Gas Industry Is Booming Despite Net-Zero Ambitions

Both the European Union and the United States are firmly on the path to a net-zero economy. This much has been made clear by officials from both sides of the Atlantic despite the EU’s hunt for more gas and the Biden administration’s calls for more oil production. Yet before net-zero is achieved—if it is ever … Read more

High Prices Make Oil And Gas Much More Appealing To Big Banks

High Prices Make Oil And Gas Much More Appealing To Big Banks

Banks have been actively seeking ways to distance themselves from the oil and gas industry in recent years under growing pressure from pro-energy transition activists. Their efforts have been quite productive, too, with funding of renewable energy loans rising significantly. But the tables are turning as fossil fuel prices soar in the face of tight … Read more

UK banks on nuclear to escape Russian fuels – POLITICO

UK banks on nuclear to escape Russian fuels – POLITICO

LONDON — The UK government has pledged to put new nuclear power at the heart of its plan to wean Britain off imported fossil fuels. In a fresh energy strategy, ministers pledged to deliver the equivalent of one nuclear reactor each year instead of one a decade, alongside major boosts in renewable energy schemes. But … Read more