Powering the Planet

Sign in Subscribe

oil and gas

Fossil Fuel Companies’ Tough Sell: Oil and Gas Sites With Costly Environmental Clean-up

Fossil Fuel Companies’ Tough Sell: Oil and Gas Sites With Costly Environmental Clean-up

Last year was rough for major oil companies. BP, Chevron, ExxonMobil, Shell, and Total suffered a combined $77 billion in losses for 2020. And now, as Reuters reports, many are trying to sell-off “dozens of oil and gas fields and refineries worth more than $110 billion to curb both their

Fossil Fuel Tax Programs to Cut Emissions Lead to Lots of Industry Profit, Little Climate Action

Fossil Fuel Tax Programs to Cut Emissions Lead to Lots of Industry Profit, Little Climate Action

Reuters revealed that financial institutions, including Goldman Sachs, were making huge profits off the program, despite it not effectively reducing emissions.

Analysis: Some Fracking Companies Are Admitting Shale Was a Bad Bet — Others Are Not

Analysis: Some Fracking Companies Are Admitting Shale Was a Bad Bet — Others Are Not

In February, Equinor CEO Anders Opedal had a brutally honest assessment of the Norwegian energy company’s foray into U.S. shale. “We should not have made these investments,” Opedal told Bloomberg. After losing billions of dollars,

Analysis: How Exxon Is Being Forced To Accept The Reality Of Bad Fossil Fuel Investments

Analysis: How Exxon Is Being Forced To Accept The Reality Of Bad Fossil Fuel Investments

Last August, ExxonMobil warned that it may need to remove 20 percent of its oil and gas proved reserves from its books. While that was a shocking number from the oil major, reality proved to be even more of a shock to the company.

Analysis: The Natural Gas Industry Is Trying To Deny How Affordable Renewable Energy Is

Analysis: The Natural Gas Industry Is Trying To Deny How Affordable Renewable Energy Is

Fossil fuel industry supporters and climate deniers are pushing a new climate falsehood when it comes to renewable energy: that natural gas offers a more affordable future. And they’re focusing their misinformation campaign on New Jersey. Rather than denying the existence of climate change, the industry has switched to

How U.S. Crude Oil Exports Are Hastening the Demise of the Oil Industry

How U.S. Crude Oil Exports Are Hastening the Demise of the Oil Industry

This post originally appeared on DeSmog When Congress lifted the export ban on U.S. crude oil in December of 2015 to allow for exports beginning in 2016, the oil industry celebrated. However, looking back at the impact of lifting the 40-year-old ban, it appears the move has helped hasten

Oil Companies Can’t Find Any Buyers For Refineries Struggling Amid Pandemic Crisis

Oil Companies Can’t Find Any Buyers For Refineries Struggling Amid Pandemic Crisis

Major players in the U.S. petroleum refining industry — which is experiencing a historic downturn due to the coronavirus pandemic — are attempting to sell refineries, with little luck. Unable to find any buyers, several refineries are becoming stranded assets as they are permanently shut down. The pandemic continues to set