Climate Movement is the “Greatest Threat” to Oil Industry
by Lucie Machin
What's Going On Here?
Earlier this week, Mohammed Barkindo a.k.a. the leader of OPEC (Organization of the Petroleum Exporting Countries), said that climate activists and the “growing mass mobilisation of world opinion” against oil are perhaps the “greatest threat” to the oil industry. In other words, people power is WORKING!
What Does This Mean?
The oil and gas industry is feeling the heat from the climate movement. A report released this week shows that more lawsuits than ever are being filed against governments and an increasing number of the highest-greenhouse-gas-emitting companies. Investors and insurance companies are also increasingly divesting from fossil fuels (i.e. putting their money elsewhere) in a move which is very damaging to the oil and gas industry.
The same speech also criticised the “unscientific” claims of the climate activism movement, so apparently this guy doesn’t know much about the unequivocal scientific evidence calling for action...
Why Should We Care?
100 oil and gas companies have been responsible for a whopping 71% of greenhouse-gas-emissions with Saudi Aramcom, Gazprom, National Iranian Oil, Coal India, Shenhua Group, Rosnett, CNPC, ADNOC, Exxon Mobil, Pemex, Shell, Soatrach, Kuwait Petroleum, BP and Qatar Petroleum being the top offenders!
To top it off, these guys love splashing their cash lobbying against climate change policies spending millions every year!
BP has the highest annual expenditure on climate dropping $53 million, followed by Shell with $49 million and ExxonMobil with $41 million.
We just sent you an email. Please click the link in the email to confirm your subscription!