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Sun, 2014-04-06 11:18Sharon Kelly
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Responding to Investor Pressure, ExxonMobil Agrees to Disclose Fracking Risks

ExxonMobil, the nation's largest oil and gas company, will begin disclosing risks associated with shale drilling and fracking to investors, in response to a long-running campaign by a coalition of shareholders.

In February, the groups of investors in a handful of major oil and gas companies including Exxon, Chevron and EOG Resources, demanded for the fifth year in a row more information from companies about the risks associated with fracking. The motion won the support of over 30 percent of Exxon shareholders — an unusually strong showing for a shareholder resolution.

On Thursday, the investors’ coalition announced that Exxon was the first company to agree to disclose risks. The company will publish a report by September that will describe fracking’s potential harm to air quality, water and roads, as well as risks associated with the chemicals used. Exxon agreed to follow criteria identified in a 2013 report, cited by the coalition and called Disclosing the Facts: Transparency and Risk in Hydraulic Fracturing Operations, in which Exxon received a failing grade for its transparency.

We have seen the significant risks that come from hydraulic fracturing activities,” said New York City Comptroller Scott M. Stringer, custodian and investment advisor for the New York City Pension Funds’ $144 billion in assets, including $1.02 billion in ExxonMobil stock. “Corporate transparency in this arena is truly necessary for assessing risk and ensuring that all stakeholders have the information they need to make informed decisions.”

However, Exxon’s first report will not disclose data on methane leaks – information that shareholders argued strongly should be made public. Natural gas is primarily made of methane, a potent greenhouse gas that has climate changing effects over 80 times more powerful than carbon dioxide during the first two decades after it escapes to the Earth’s atmosphere.

Mon, 2014-03-17 13:39Steve Horn
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Why ExxonMobil's Partnerships With Russia's Rosneft Challenge the Narrative of U.S. Exports As Energy Weapon

In a long-awaited moment in a hotly contested zone currently occupied by the Russian military, Ukraine's citizens living in the peninsula of Crimea voted overwhelmingly to become part of Russia.

Responding to the referendum, President Barack Obama and numerous U.S. officials rejected the results out of hand and the Obama Administration has confirmed he will authorize economic sanctions against high-ranking Russian officials.

“As I told President Putin yesterday, the referendum in Crimea was a clear violation of Ukrainian constitutions and international law and it will not be recognized by the international community,” Obama said in a press briefing. “Today I am announcing a series of measures that will continue to increase the cost on Russia and those responsible for what is happening in Ukraine.” 

But even before the vote and issuing of sanctions, numerous key U.S. officials hyped the need to expedite U.S. oil and gas exports to fend off Europe's reliance on importing Russia's gas bounty. In short, gas obtained via hydraulic fracturing (“fracking”) is increasingly seen as a “geopolitical tool” for U.S. power-brokers, as The New York Times explained. 

Perhaps responding to the repeated calls to use gas as a “diplomatic tool,” the U.S. Department of Energy (DOE) recently announced it will sell 5 million barrels of oil from the seldom-tapped Strategic Petroleum Reserve. Both the White House and DOE deny the decision had anything to do with the situation in Ukraine.

Yet even as some say we are witnessing the beginning of a “new cold war,” few have discussed the ties binding major U.S. oil and gas companies with Russian state oil and gas companies.

The ties that bind, as well as other real logistical and economic issues complicate the narrative of exports as an “energy weapon.”

Fri, 2014-03-14 14:30Mike G
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Chevron RICO Verdict Sets Dangerous Precedent For Activists

Last week, Chevron's RICO suit against the lawyers representing 30,000 Ecuadoreans impacted by the company's oil pollution in the Amazon came to its inevitable conclusion when the judge presiding over the case, Lewis Kaplan of the Southern District of New York, ruled in Chevron's favor.

Yes, that's RICO as in the Racketeer Influenced and Corrupt Organizations Act, the law written so that mob bosses could be prosecuted for running their criminal empires.

Faced with a $9.5 billion judgement in Ecuador's courts, Chevron came back to the US and counter-sued under RICO statutes, essentially saying the organized opposition to its attempts to evade responsibility in Ecuador amounted to a criminal conspiracy.

Let that sink in for a minute: The lawyers who were trying to help 30,000 Indigenous villagers, farmers, and other poor, rural Ecuadoreans demand accountability from a multinational corporation with a $221.3 billion market cap were charged with corruption by that very same multinational corporation, and a US judge went along with it.

What this means is that the Ecuadoreans are barred from seeking Chevron assets in the US to force the company to pay the $9.5 billion. Chevron has refused to comply with the Ecuador court's ruling, even though Chevron itself argued that Ecuador was the proper jurisdiction for the lawsuit over its 18 billion gallons of oil pollution in the Ecuadorean Amazon. Since the Ecuadoreans had no plans of pursuing Chevron on its own turf, this ruling doesn't have much practical impact on the matter.

What Kaplan's ruling does do, however, is set a terrifying precedent for any company looking to evade responsibility for the consequences of its business operations.

Thu, 2014-03-13 01:59Steve Horn
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General James Jones Didn't Disclose Industry Ties Before Testimony at Keystone XL Hearing

The U.S. Senate Foreign Relations Committee held a hearing today (March 13) on the U.S. State Department's national interest determination for the northern half of the proposed TransCanada Keystone XL tar sands pipeline. 

Four witnesses will testify: Keystone XL proponent Karen Alderman Harbert, the president and CEO of the U.S. Chamber of Commerce's Institute for 21st Century Energy; retired NASA climatologist James Hansen, an adjunct professor at Columbia University's Earth Institute and Keystone XL opponent; and Sierra Club Executive Director Michael Brune, another critic of the Keystone XL

And then there's James Jones. He's set to testify on behalf of the pipeline, with his affiliation listed as President of Jones Group International. He won't be testifying at the request of the committee's Democrats, but rather its Republicans, even though he formerly served as national security advisor to President Barack Obama.

Described as offering “high level advisory and consulting services in the areas of international energy policy,” Jones Group — which doesn't list its clients — is far from Jones' only career gig.

A DeSmogBlog investigation has revealed Jones has several oil and gas industry ties that weren't disclosed to the Senate Foreign Relations Committee before the hearing.

Among other ties, BuzzFeed recently revealed Jones currently serves as a consultant for the American Petroleum Institute (API), which has spent over $22 million lobbying on behalf of Keystone XL since 2008. Environmental Resources Management, Inc. (ERM Group) — the contractor chosen by the State Department to conduct the environmental review for the pipeline — is an API member.

Friends of the Earth made a public call to Jones to reveal his client list ahead of his Senate testimony.

“Our representatives in Congress have a right to learn all of the pertinent facts about the Keystone XL pipeline unfiltered by corporate special interests,” reads the letter. “Disclosing all relevant payments from interests advocating for or against the pipeline will help our representatives decide how to balance the competing information they are sure to receive.”

Below are some of Jones' clients, revealed by a DeSmogBlog investigation.

Tue, 2014-02-18 15:31Mike G
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Chevron Tries A New PR Trick: Free Pizza to Neighbors of Exploded Gas Well

Chevron is known for responding aggresively to anyone who tries to hold the company accountable. The creativity the company applies to evading responsibility for its messes is arguably unparalleled.

Even still, Chevron's latest PR move, after one of its natural gas pipelines exploded and burned for five days in southwestern Pennsylvania, is probably the first time free pizza was involved.

When the city of Richmond, CA sued Chevron for damages related to an explosion at one of the company's refineries in 2012, a Chevron spokesman responded by attacking the city's “failed leadership.”

When 30,000 Indigenous and rural Ecuadoreans won a $9bn judgement against Chevron in compensation for the decades-worth of oil pollution the company left in their Amazonian home, Chevron pulled every dirty legal trick in the book, including filing racketeering charges against the plaintiffs, to delay justice.

So what did the residents of Bobtown, PA get if they were concerned about the massive column of flame and toxic fallout from Chevron's natural gas pipeline explosion? Aside from a pretty standard apology letter, they got a coupon for a free pizza (“special combo only,” per the coupon itself, so don't even think about getting extra toppings you moochers) and two-liter soft drink.

Philly.com calls it: “The Chevron Guarantee: Our well won't explode…or your pizza is free!”

It's probably best if I just let the late-night comedians take it from here…

Tue, 2014-02-11 13:01Mike G
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Disastrous Day in Fossil Fuels: WV coal slurry spill, PA gas well explosion, ND gas explosion

West Virginia officials are reporting that a coal slurry line at the Kanawha Eagle Prep Plant, which belongs to Patriot Coal, ruptured and spilled a toxic byproduct from the coal mining and preparation process into a creek that feeds the Kanawha River early this morning. More than 100,000 gallons of slurry spilled, and state officials are monitoring potential impacts on public health and the local water supply.

West Virginia Department of Environmental Protection (DEP) officials say the leak is “significant” and are comparing it to last month's Freedom Industries’ coal chemical spill into the Elk River, which contaminated the tapwater of 300,000 West Virginians.

Incredibly, that’s just one of the fossil fuels disasters that happened today. Just a few miles across the border from West Virginia, a natural gas well operated by Chevron in Dilliner, Pennsylvania exploded and continues to burn, as firefighters cannot get close enough to extinguish it, due to the intense heat. One person was injured and taken to the hospital, and another person remains missing.

Another natural gas explosion was reported last night, this one in Tioga, North Dakota. Hiland Partners operates the pipeline that ruptured, leading to an explosion and fire that could be seen, apparently, for miles. Randall Pederson of the Tioga Fire and Ambulance Department told the Bismarck Tribune that he “could see a large glow south of town” so he knew it was a big blaze even before he got to the scene.

Here is one YouTube user's video of the scene in Tioga last night:



We’ll keep you updated on all of these stories as the day progresses.

Image credit: WSAZ via Twitter

**UPDATE**

Mon, 2013-12-16 14:56Caroline Selle
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Carbon Emissions And Financial Risk Concentrated In 90 Top Emitters Responsible For 60% Of Emissions

A survey released last week indicates many major institutional investors, such as retirement funds and insurance companies, are putting their investments at risk by neglecting to address the negative financial impacts posed by climate change.

It’s no wonder that some of these investments are dicey when you consider the findings of another paper released last month, which indicated 90 companies are responsible for two-thirds of manmade carbon emissions. That’s not just a huge concentration of carbon emissions — it’s a concentrated dose of financial risk.

Published in the journal of Climatic Change, the report, “Tracing anthropogenic carbon dioxide and methane emissions to fossil fuel and cement producers, 1854–2010,” uses public records and data from the U.S. Department of Energy to calculate emissions based on the companies’ entire supply chains.

All but seven of the 90 companies identified are part of the fossil fuel industry.

Nearly 30 percent of emissions were produced by just the top 20 companies. Together, ExxonMobil, Chevron, BP, Royal Dutch Shell, ConocoPhillips and Peabody Energy, all investor-owned companies, are responsible for more than 13 percent of manmade carbon emissions.

These companies also have a disproportionate amount of political influence in North America. In the United States alone, ExxonMobilChevron and BP have contributed more than $12 million to lawmakers since 1999.

Half of the emissions traced by the report were produced in the last 25 years, when awareness of global warming was increasing. Concerted efforts to deny climate science and halt climate policy began in the early 1990s. As an updated Greenpeace report released in September 2013 shows, the climate denial machine has its roots in Exxon’s funding of front groups.

Thu, 2013-11-07 09:00Sharon Kelly
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Could California's Shale Oil Boom Be Just a Mirage?

Since the shale rush took off starting in 2005 in Texas, drillers have sprinted from one state to the next, chasing the promise of cheaper, easier, more productive wells. This land rush was fueled by a wild spike in natural gas prices that helped make shale gas drilling attractive even though the costs of fracking were high.

As the selling price of natural gas sank from its historic highs in 2008, much of the luster wore off entire regions that had initially captivated investors, like Louisiana’s Haynesville shale or Arkansas’s Fayetteville, now in decline.

But unlike natural gas prices, oil prices remain high to this day, and investors and policymakers alike remain dazzled by the heady promise of oil from shale rock. Oil and gas companies have wrung significant amounts of black gold from shale oil plays like Texas’s Eagle Ford and North Dakota’s Bakken.

Shale oil, they say, is the next big thing.

“After years of talking about it, we’re finally poised to control our own energy future,” President Obama said in his most recent State of the Union address. “We produce more oil at home than we have in 15 years.”

But once again, the reality may be nothing like the hype. Consider California.

Fri, 2013-10-25 06:00Mike G
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Chevron’s Scorched Earth Strategy To Derail Justice for Its Victims

From Richmond, CA to Ecuador to Romania, communities impacted by oil giant Chevron’s operations are rising up to demand justice. Chevron’s response in each case has been consistently irresponsible: Deny any wrongdoing, cover up the extent of corporate malfeasance and environmental contamination, and go on the offensive against anyone demanding the company take responsibility for its messes.

But lately, the company has really been on a tear, taking its anti-democratic attacks to bold new heights.

No one knows this better than Steven Donziger, the US lawyer who has worked with the Indigenous and rural communities of the Ecuadorian Amazon who are seeking to hold Chevron accountable for its massive oil pollution in their rainforest home. Chevron is, put simply, out to destroy Donziger for the crime of having a conscience and speaking up.

After Donziger helped 30,000 Ecuadorean plaintiffs sue Chevron in a US court in 1993, lawyers for Texaco (which was bought by Chevron in 2001) successfully argued that the proper jurisdiction was Ecuador. The plaintiffs re-filed their lawsuit in the oil company’s preferred venue in 2003, and secured a $19 billion verdict against Chevron last year.

Chevron then promptly refused to pay, alleged the verdict was the product of fraud, and attempted to have the whole case re-tried by proxy back in the US.

In a move that almost defied logic - and certainly defied all precedent - Chevron’s lawyers filed a RICO suit–that’s RICO as in the anti-racketeering law used by the Justice Department to bring down organized crime syndicates–against Donziger and others working to bring Chevron to justice.

Thu, 2013-10-24 05:00Farron Cousins
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US Chamber President Tom Donohue Pushes Deceitful Dirty Energy Talking Points

Tom Donohue, the president of the massive business lobbying group the U.S. Chamber of Commerce, is once again doing the bidding of the dirty energy industry by claiming that America is on the verge of complete “energy security.”

On the pages of the U.S. Chamber’s Free Enterprise website, Donohue claimed that America has become an “energy rich” nation, no longer susceptible to problems like the gas shortage of the 1970’s.  In Donohue’s own words:

We’re sitting on a 200-year supply of oil and have enough natural gas to last us 115 years. And we’re discovering more resources every day. Thanks to new technology, entrepreneurship, and access to private lands, we’re able to develop more of it than ever—particularly the unconventional oil and gas, which was previously too costly to reach…

…Our national energy policy is still based on the false assumption that we are an energy-poor nation. The federal government continues to keep 87% of federal lands off limits for energy development. Our affordable and abundant coal resources are under constant regulatory threat by EPA. The administration is proposing new regulations on shale energy development, even though it is already stringently regulated at the state level. And some in the government still want to pick winners and losers among energy industries.

Donohue would have us believe that the United States is sitting on vast energy reserves that would quench our dirty energy addiction for centuries, but the pesky federal government is trying to keep those honest energy companies down. 

This is the same government that, a few paragraphs earlier Donohue inadvertently admitted, had allowed increased oil and gas drilling in the United States and reduced our need for imports:

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