COP26 politicians give thumbs up to oil and gas

January 11, 2022

No sooner had politicians signed the Glasgow Climate Pact in November, than the US government paved the way for new oil and gas output, by selling $191 million of new drilling licences.

ExxonMobil, Chevron, BP, Shell and 29 other companies bid at an auction for blocks in the Gulf of Mexico, in an area twice the size of Florida.

The sale came after the Joe Biden administration’s moratorium on new drilling was overturned in the courts. Earthjustice said the sale was a “climate bombshell”: if all that production goes ahead, an extra 600 million tonnes of carbon dioxide goes into the atmosphere.

On the plus side, the UK’s biggest new oil project, Cambo, suffered a blow, as Shell pulled out, after forceful mobilisation by climate campaigners. Siccar Point Energy, which owns 70% of the project, then said it is pausing work.

Extinction Rebellion in London, September 2020. Photo by Steve Eason

Cambo could still go ahead, though, and if it does, that will be thanks in part to the UK’s lavish tax breaks for North Sea producers. Siccar Point says the project is “not forecasted to pay taxes for many years”.

The company-friendly tax regime means that in 2020 the treasury collected a paltry £255 million from oil and gas producers, while handing rebates of £39 million to BP and £110 million to Shell. 

These tax breaks are just one part of a multi-billion-dollar mountain of subsidies for fossil fuel producers from rich countries’ governments.

And those subsidies form the background to COP26’s failure to tackle global heating, and to the decisions made there, which Climate Action Tracker estimates will lead to 2.1-2.7 degrees of warming, far above the 1.5 degree target.  

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Don’t expect real climate solutions from COP26. It works for corporations

September 10, 2021

This article by SIMON PIRANI first appeared on Truthout

In the run-up to the United Nations climate change conference (COP26) in the UK in November — the 26th session of the talks that were launched in Rio de Janeiro in 1992 — the governments of the world’s richest countries are making ever-louder claims that they are effectively confronting global warming.

Nothing could be more dangerous than for social, labour and environmental movements to take this rhetoric at face value and assume that political leaders have the situation under control.

There are three huge falsehoods running through these leaders’ narratives: that rich nations are supporting their poorer counterparts; that “net zero” targets will do what is needed; and that technology-focused “green growth” is the way to decarbonize.

On Extinction Rebellion’s London demonstration last month. Photo by Steve Eason

First, wealthier countries claim to be supporting poorer nations — which are contributing least to global warming, and suffering most from its effects — to make the transition away from fossil fuels.

But at the G7 summit in June, the rich countries again failed to keep their own promise, made more than a decade ago, to provide $100 billion per year in climate finance for developing countries. Of the $60 billion per year they have actually come up with, more than half is bogus: analysis by Oxfam has shown that it is mostly loans and non-concessional finance, and that the amounts are often overstated.

Compare this degrading treatment of the global south with the mobilisation of many hundreds of billions for the post-pandemic recovery. Of $657 billion (public money alone) pledged by G20 nations to energy-producing or energy-consuming projects, $296 billion supports fossil fuels, nearly a third greater than the amount supporting clean energy ($228 billion).

Meanwhile, the impacts of climate change are magnified by poverty. This year’s floodswildfires and record temperatures in Europe and north America have been frightful enough. The same phenomena cause far greater devastation outside the global north.

In 2020, “very extensive” flooding caused deaths, significant displacement of populations and further impacts from disease in 16 African countries, the World Meteorological Organisation (WMO) annual climate report recorded. India, China and parts of Southeast Asia suffered from record-breaking rainfall and flooding, too.

Climate and weather events had “major and diverse impacts on population movements, and on the vulnerability of people on the move,” the WMO reported. Cyclone Amphan displaced 2.5 million people in India and Bangladesh last May. Many could return soon, but 2.8 million homes were damaged, leading to prolonged displacement. Severe storms in Mozambique piled on dangers for tens of thousands of people displaced by the previous year’s floods and who had not been able to return home.

The political leaders’ second fiction is their pledge to attain “net zero” greenhouse gas emissions by 2050 (the U.S., U.K. and Europe) or 2060 (China).

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