Billion dollar bills on the way for cleaning up US wells
Investors and taxpayers face paying out billions in clean-up costs as oil and gas companies prematurely close wells, according to latest research.The study by think-tank Carbon Tracker suggests there are between 3.3 to 4 million active, idle or abandoned but unplugged wells in the USA. But a failure to plan for an orderly energy transition an
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UK chancellor Rishi Sunak has today confirmed a temporary windfall tax on the profits of oil and gas firms to help with the cost-of-living crisis.
The climate targets of oil and gas majors rely heavily on emissions mitigation technologies (EMTs) that are expensive and unproven at scale, analysis by Carbon Tracker has uncovered.
Acoalition of NGOs and environmental groups have called on financial institutions to stop “propping up” the war in Ukraine by cutting ties with Russia’s fossil fuel industry. In a letter to CEOs, they call on insurers, banks and asset managers to end financing, investment, insurance coverage and other financial services to companies in the Russian industry, and divest from existing assets.