The Southern U.S. is now the world’s largest producer and exporter of wood pellets. Under the guise of “renewable energy,” the voracious European demand for wood pellets has put forests and communities in this region at increased risk.
A growing chorus agrees the expansion of the natural gas industry, which feeds plastics and petrochemical plants like Shell’s, is moving the U.S. in the wrong direction to prevent catastrophic impacts from climate change.
European fund managers are casting an increasingly skeptical eye towards the oil industry, concluding that the industry’s financial future looks grim, according to a new survey published by a London-based organization today.
Trillions of dollars of investments are being taken out of carbon-intensive companies. Governments must now take notice
A big chunk of money coming out of Pennsylvania is financing the dog siccers and the pepper sprayers -- including tax dollars. It turns out that one of the major investors in Energy Transfer Partners is...the Commonwealth of Pennsylvania. Records show that as of this June, the commonwealth -- through its pension funds -- owned some 5 million shares of ETP -- valued at some $192 million. That's more than any other governmental or quasi-governmental agency.
The financial infrastructure of the new economy is under-developed. Waiting for Wall Street to deliver the financial instruments we need for a sustainable economy is like waiting for Exxon to build the renewable energy system we need to avert climate catastrophe. It is not going to happen. The movement needs to be equally focused on moving capital out of fossil fuels and into the new economy as it is readying the economy to absorb this new flow of capital.
In the US the movement must stop the energy corporations from searching for carbon, digging it up, and burning it.
In recent months -- and it’s the curse of an author that sometimes you change your mind after your book is in type -- I’ve come to like the idea of capital L leaders less and less. It seems to me to miss the particular promise of this moment: that we could conceive of, and pursue, movements in new ways.
"This resolution becomes a model for all faith communities who care about God’s creation and recognize the urgent scientific mandate to keep at least 80% of the known oil, gas and coal reserves in the ground." Jim Antal, Minister and President, MACUCC
Spread the word