Tag Archives: Center for Climate Integrity

Bye Bye, Big Oil? BP Admits Demand May Have Already Peaked, Predicts Growth of Renewable Energy

Welcoming news that oil demand may never recover to pre-pandemic levels, Greenpeace noted that “a #GreenRecovery will hasten its demise.”

By Jessica Corbett, staff writer for Common Dreams. Published 9-14-2020

BP’s annual report on the future of energy, released Monday, says demand for oil may have peaked last year and projects significant growth in renewables over the next three decades. (Photo: tolkien1914/flickr/cc)

As communities worldwide face off against and file suit over the devastating impacts of a climate crisis notably driven by fossil fuel giants, BP on Monday gave just the latest signal that the dirty energy industry is dying—admitting that global demand for oil may have already peaked while projecting significant growth in renewables over the next few decades.

The new edition of BP’s annual Energy Outlook features three potential transition scenarios to 2050, the year by which the British firm says it intends to deliver its net-zero ambition. The forecast, Reuters reported, “underpins chief executive Bernard Looney’s new strategy to ‘reinvent’ the 111-year old oil and gas company by shifting renewables and power.” Continue reading

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Supreme Court Blocks ExxonMobil’s Effort to Conceal Decades of Documents in Probe of Oil Giant’s Climate Deception

The high court’s ruling means the company must hand over records to the Massachusetts attorney general for her ongoing investigation

By Jessica Corbett, staff writer for Common Dreams. Published 1-7-2019

Photo: @NextGen_NH/Twitter

In a win for climate campaigners and Massachusetts’ Democratic Attorney General Maura Healey on Monday, the U.S. Supreme Court rejected ExxonMobil’s attempt to block Healey’s demand for documents related to her state’s ongoing investigation into allegations that one of the world’s largest oil and gas corporations deceived the public and investors for decades about how fossil fuels drive global warming.

“The public deserves answers from this company about what it knew about the impacts of burning fossil fuels, and when,” Healey said, responding on Twitter to the ruling. This victory, she added, “clears the way for our office to investigate Exxon’s conduct toward consumers and investors.” Continue reading

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