The fossil fuel lobby is still at it. The advocates of traditional fuels are determined to push their case at the climate change talks here – even though all the evidence says that the continued use of coal, oil and gas threatens severe climate change and the whole future of the planet. According to a new report those lobbyists are not only endangering future generations – they are also digging a deep financial hole for themselves, virtually throwing away multi-million dollar investments. The report by Carbon Tracker, an independent financial think-tank specialising in the energy sector, looks specifically at the oil-refining sector and has some distinctly uncomfortable news for investors in the industry. It says that by 2035 a growing tide of climate regulations, along with rapid advances in clean technologies, will lead to big cuts in the demand for oil and result in at least a quarter of the world’s more than 500 refineries having to close
Climate News Network 9th Nov 2017 read more »
Michael Bloomberg is taking his campaign to reduce greenhouse gasses and reduce reliance on coal internationally, after a massive campaign in the United States that has seen success. Mr Bloomberg is a United Nations special envoy on climate change and a former mayor of New York City, and has funded a $164 million campaign to reduce greenhouse gasses in America since 2010. During that time, more than half of the nation’s coal-fired power plants closed down.
Independent 9th Nov 2017 read more »