Economy & Business

Bank Regulators Give Dire Warning of Financial Risks From Climate Change

"Home values could fall significantly. Banks could stop lending to flood-prone communities. Towns could lose the tax money they need to build sea walls and other protections. These are a few of the warnings published on Thursday by the Federal Reserve Bank of San Francisco regarding the financial risks of climate change."

Source: NY Times, 10/18/2019

Despite Promises, Energy Giants Burn Away Vast Amounts of Natural Gas

"When leaders from Exxon Mobil and BP gathered last month with other fossil-fuel executives to declare they were serious about climate change, they cited progress in curbing an energy-wasting practice called flaring — the intentional burning of natural gas as companies drill faster than pipelines can move the energy away. But in recent years, some of these same companies have significantly increased their flaring ... ."

Source: NY Times, 10/18/2019

"Interior: BLM Chief's Financial Ties To Law Group Run Deep"

"The Bureau of Land Management's top official recused himself last month from decisionmaking tied to nearly five dozen organizations and individuals — including a two-year ban on clients represented by his former law firm — but newly disclosed documents show his financial ties to some of those interests will last a lifetime."

Source: Greenwire, 10/17/2019

"Revealed: The 20 Firms Behind A Third Of All Carbon Emissions"

"The Guardian today reveals the 20 fossil fuel companies whose relentless exploitation of the world’s oil, gas and coal reserves can be directly linked to more than one-third of all greenhouse gas emissions in the modern era.

New data from world-renowned researchers reveals how this cohort of state-owned and multinational firms are driving the climate emergency that threatens the future of humanity, and details how they have continued to expand their operations despite being aware of the industry’s devastating impact on the planet.

Source: Guardian, 10/15/2019

"After Avoiding Safety Upgrades, PG&E Hired Lobbyists and PR Instead"

"Power shutoffs affecting more than 1 million residents, scheduled by PG&E this week throughout the San Francisco Bay Area and Northern California, have sparked a massive backlash, with many community members telling reporters that they are shocked that the company has not done more to upgrade its transmission lines."

Source: The Intercept, 10/14/2019

"Biofuels: Trump Admin Proposes Boost For Ethanol Blending"

"The Trump administration plans to boost biofuel blending in the nation's fuel supplies beginning next year, while continuing to let small petroleum refineries avoid the mandates in certain circumstances, officials said today [Friday]."

Source: Greenwire, 10/07/2019

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