The Sacramento Bee published a video showing dozens of oil tankers anchored off California’s coast as the current demand for oil plummets. But looking toward the future, they’ve also published along with it a special warning from the director of the nonprofit Center for Biological Diversity’s Climate Law Institute: California Resources Corporation, the state’s largest oil and gas producer, is the…
Tag: Bankruptcies
Millions of Abandoned Oil Wells Are Leaking Methane, a Climate Menace
More than a century of oil and gas drilling has left behind millions of abandoned wells, many of which are leaching pollutants into the air and water. And drilling companies are likely to abandon many more wells due to bankruptcies, as oil prices struggle to recover from historic lows after the coronavirus pandemic crushed global fuel demand, according to bankruptcy lawyers,…
Bankrupt US Coal Producer Was Funding Climate Change Denial
The bankruptcy of one of America’s largest coal producers revealed that the company was helping to fund “think tanks that have attacked the link between the burning of fossil fuels and climate change, as well as to several conservative advocacy groups that have attempted to undermine policies intended to shift the economy toward renewable energy,” reports the Intercept. The document shows…